DDEC vs. BUFD

Last updated Jun 24, 2026

DDEC (FT Vest U.S. Equity Deep Buffer ETF - December) and BUFD (FT Vest Laddered Deep Buffer ETF) are both Defined Outcome funds from FT Vest. DDEC is passively managed, while BUFD is actively managed. Over the past 5 years, DDEC returned 8.08%/yr vs 7.32%/yr for BUFD. Their correlation of 0.84 suggests significant overlap in exposure. DDEC charges 0.85%/yr vs 0.95%/yr for BUFD.

Performance

DDEC vs. BUFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) and FT Vest Laddered Deep Buffer ETF (BUFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DDEC having a 4.35% return and BUFD slightly higher at 4.55%.

DDEC

• 1D: -0.42%
• 1M: -0.04%
• YTD: 4.35%
• 6M: 4.05%
• 1Y: 14.63%
• 3Y*: 12.16%
• 5Y*: 8.08%
• 10Y*: —

BUFD

• 1D: -0.49%
• 1M: -0.08%
• YTD: 4.55%
• 6M: 4.29%
• 1Y: 13.12%
• 3Y*: 11.59%
• 5Y*: 7.32%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DDEC vs. BUFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DDEC FT Vest U.S. Equity Deep Buffer ETF - December	4.35%	12.33%	12.26%	16.82%	-6.71%	6.70%
BUFD FT Vest Laddered Deep Buffer ETF	4.55%	10.66%	12.42%	15.40%	-7.70%	5.86%

Correlation

The correlation between DDEC and BUFD is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021	0.84

The correlation between DDEC and BUFD has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

DDEC vs. BUFD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DDEC

DDEC Risk / Return Rank: 84
DDEC Sharpe Ratio Rank: 84
DDEC Sortino Ratio Rank: 87
DDEC Omega Ratio Rank: 87
DDEC Calmar Ratio Rank: 74
DDEC Martin Ratio Rank: 87

BUFD

BUFD Risk / Return Rank: 86
BUFD Sharpe Ratio Rank: 83
BUFD Sortino Ratio Rank: 88
BUFD Omega Ratio Rank: 88
BUFD Calmar Ratio Rank: 78
BUFD Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DDEC vs. BUFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) and FT Vest Laddered Deep Buffer ETF (BUFD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DDEC	BUFD	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.51	-0.01
Sortino ratio: Return per unit of downside risk	3.65	3.81	-0.16
Omega ratio: Gain probability vs. loss probability	1.50	1.51	-0.02
Calmar ratio: Return relative to maximum drawdown	3.52	3.84	-0.32
Martin ratio: Return relative to average drawdown	17.42	20.61	-3.18

DDEC vs. BUFD - Sharpe Ratio Comparison

The current DDEC Sharpe Ratio is 2.50, which is comparable to the BUFD Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of DDEC and BUFD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DDEC vs. BUFD - Drawdown Comparison

The maximum DDEC drawdown since its inception was -10.22%, roughly equal to the maximum BUFD drawdown of -10.75%. Use the drawdown chart below to compare losses from any high point for DDEC and BUFD.

Drawdown Indicators

	DDEC	BUFD	Difference
Max Drawdown Largest peak-to-trough decline	-10.22%	-10.75%	+0.53%
Max Drawdown (1Y) Largest decline over 1 year	-4.18%	-3.43%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-9.40%	-10.15%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-10.22%	-10.75%	+0.53%
Current Drawdown Current decline from peak	-0.78%	-0.72%	-0.06%
Average Drawdown Average peak-to-trough decline	-1.85%	-1.95%	+0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.84%	0.64%	+0.20%

Volatility

DDEC vs. BUFD - Volatility Comparison

FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) has a higher volatility of 1.77% compared to FT Vest Laddered Deep Buffer ETF (BUFD) at 1.67%. This indicates that DDEC's price experiences larger fluctuations and is considered to be riskier than BUFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDEC	BUFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.77%	1.67%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	4.64%	4.18%	+0.46%
Volatility (1Y) Calculated over the trailing 1-year period	5.91%	5.29%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.06%	7.75%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.88%	7.54%	-0.66%

DDEC vs. BUFD - Expense Ratio Comparison

DDEC has a 0.85% expense ratio, which is lower than BUFD's 0.95% expense ratio.

Dividends

DDEC vs. BUFD - Dividend Comparison

Neither DDEC nor BUFD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DDEC and BUFD in my portfolio?

With a correlation of 0.90, DDEC and BUFD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DDEC or BUFD?

DDEC has higher volatility (1.77%) compared to BUFD (1.67%). In terms of maximum drawdown, DDEC dropped -10.22% vs BUFD's -10.75%.

Which ETF is better, DDEC or BUFD?

On 5-year performance, DDEC leads with 8.08% vs 7.32% for BUFD. On fees, DDEC is cheaper at 0.85% per year. On volatility, BUFD has been the lower-risk option at 1.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DDEC or BUFD?

Over the 5-year period, DDEC has performed better with a 8.08% return vs 7.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DDEC or BUFD?

DDEC is cheaper with a 0.85% expense ratio, compared with 0.95% for BUFD.

Which ETF pays a higher dividend yield, DDEC or BUFD?

DDEC and BUFD have nearly identical dividend yields, around 0.00%.

What is the main difference between DDEC and BUFD?

Their fees differ too: 0.85% for DDEC and 0.95% for BUFD.

Which has better risk-adjusted returns?

BUFD currently has the higher Sharpe Ratio (2.51 vs 2.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.