DDSQ vs. BUFF

Last updated Jun 5, 2026

DDSQ (Innovator Equity Dual Directional 5 Buffer ETF - Quarterly) and BUFF (Innovator Laddered Allocation Power Buffer ETF) are both Defined Outcome funds from Innovator. DDSQ is actively managed, while BUFF is passively managed. Their correlation of 0.81 suggests significant overlap in exposure. DDSQ charges 0.79%/yr vs 0.89%/yr for BUFF.

Performance

DDSQ vs. BUFF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 5 Buffer ETF - Quarterly (DDSQ) and Innovator Laddered Allocation Power Buffer ETF (BUFF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DDSQ

• 1D: 0.09%
• 1M: 1.03%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUFF

• 1D: 0.15%
• 1M: 1.62%
• YTD: 5.58%
• 6M: 6.06%
• 1Y: 14.66%
• 3Y*: 12.56%
• 5Y*: 8.75%
• 10Y*: —

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

DDSQ vs. BUFF - Yearly Performance Comparison

	2026 (YTD)
DDSQ Innovator Equity Dual Directional 5 Buffer ETF - Quarterly	9.64%
BUFF Innovator Laddered Allocation Power Buffer ETF	5.30%

Correlation

The correlation between DDSQ and BUFF is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 5, 2026	0.81

DDSQ vs. BUFF - Sectors Allocation Comparison

Sectors	DDSQ	BUFF
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

DDSQ vs. BUFF — Risk / Return Rank

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

BUFF

BUFF Risk / Return Rank: 88
BUFF Sharpe Ratio Rank: 87
BUFF Sortino Ratio Rank: 91
BUFF Omega Ratio Rank: 91
BUFF Calmar Ratio Rank: 80
BUFF 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.

DDSQ vs. BUFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 5 Buffer ETF - Quarterly (DDSQ) and Innovator Laddered Allocation Power Buffer ETF (BUFF). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DDSQ	BUFF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.86	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.12	0.49	+1.63

Drawdowns

DDSQ vs. BUFF - Drawdown Comparison

The maximum DDSQ drawdown since its inception was -3.69%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for DDSQ and BUFF.

Drawdown Indicators

	DDSQ	BUFF	Difference
Max Drawdown Largest peak-to-trough decline	-3.69%	-46.23%	+42.54%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.24%	—
Current Drawdown Current decline from peak	-0.02%	-0.11%	+0.09%
Average Drawdown Average peak-to-trough decline	-0.35%	-6.18%	+5.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.67%	—

Volatility

Volatility by Period

	DDSQ	BUFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.83%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	5.15%	+6.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.71%	8.41%	+3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.71%	17.67%	-5.96%

DDSQ vs. BUFF - Expense Ratio Comparison

DDSQ has a 0.79% expense ratio, which is lower than BUFF's 0.89% expense ratio.

Dividends

DDSQ vs. BUFF - Dividend Comparison

Neither DDSQ nor BUFF has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BUFF Innovator Laddered Allocation Power Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.78%	1.26%	1.74%	1.55%	0.18%
DDSQ Innovator Equity Dual Directional 5 Buffer ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DDSQ and BUFF in my portfolio?

DDSQ and BUFF have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDSQ or BUFF?

On fees, DDSQ is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDSQ or BUFF?

DDSQ is cheaper with a 0.79% expense ratio, compared with 0.89% for BUFF.

Which ETF pays a higher dividend yield, DDSQ or BUFF?

DDSQ and BUFF have nearly identical dividend yields, around 0.00%.

What is the main difference between DDSQ and BUFF?

Their fees differ too: 0.79% for DDSQ and 0.89% for BUFF.