DDTO vs. BUFF

Last updated Aug 1, 2026

DDTO (Innovator Equity Dual Directional 10 Buffer ETF - October) and BUFF (Innovator Laddered Allocation Power Buffer ETF) are both Defined Outcome funds from Innovator. DDTO is actively managed, while BUFF is passively managed. Their correlation of 0.90 means they have usually moved in the same direction. DDTO charges 0.79%/yr vs 0.89%/yr for BUFF.

Performance

DDTO vs. BUFF - Performance Comparison

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

Returns By Period

In the year-to-date period, DDTO achieves a 6.80% return, which is significantly higher than BUFF's 6.26% return.

DDTO

• 1D: 0.26%
• 1M: 0.92%
• 6M: 5.98%
• YTD: 6.80%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BUFF

• 1D: 0.26%
• 1M: 0.61%
• 6M: 5.31%
• YTD: 6.26%
• 1Y: 11.26%
• 3Y*: 11.19%
• 5Y*: 8.65%
• 10Y*: —
• ALL TIME*: 8.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUFF Innovator Laddered Allocation Power Buffer ETF	$6.70M	$5.20M	$4.32M
DDTO Innovator Equity Dual Directional 10 Buffer ETF - October	$79.99K	$109.02K	$145.87K

DDTO vs. BUFF - Yearly Performance Comparison

	2026 (YTD)	2025
DDTO Innovator Equity Dual Directional 10 Buffer ETF - October	6.80%	2.21%
BUFF Innovator Laddered Allocation Power Buffer ETF	6.26%	2.06%

Correlation

The correlation between DDTO and BUFF is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025	0.90

Return for Risk

DDTO vs. BUFF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DDTO

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

BUFF

BUFF Risk / Return Rank: 89
BUFF Sharpe Ratio Rank: 88
BUFF Sortino Ratio Rank: 90
BUFF Omega Ratio Rank: 90
BUFF Calmar Ratio Rank: 84
BUFF Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DDTO vs. BUFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 10 Buffer ETF - October (DDTO) 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.

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.

	DDTO	BUFF	Difference
Sharpe ratio: Return per unit of total volatility	—	2.13	—
Sortino ratio: Return per unit of downside risk	—	3.20	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	3.15	—
Martin ratio: Return relative to average drawdown	—	16.12	—

Drawdowns

DDTO vs. BUFF - Drawdown Comparison

The maximum DDTO drawdown since its inception was -4.98%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for DDTO and BUFF.

Drawdown Indicators

	DDTO	BUFF	Difference
Max Drawdown Largest peak-to-trough decline	-4.98%	-46.23%	+41.25%
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	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-0.61%	-6.09%	+5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.70%	—

Volatility

Volatility by Period

	DDTO	BUFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	7.11%	5.31%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.11%	8.45%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.11%	17.54%	-10.43%

DDTO vs. BUFF - Expense Ratio Comparison

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

Dividends

DDTO vs. BUFF - Dividend Comparison

Neither DDTO 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%
DDTO Innovator Equity Dual Directional 10 Buffer ETF - October	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 DDTO and BUFF in my portfolio?

With a correlation of 0.90, DDTO and BUFF 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 ETF is better, DDTO or BUFF?

On fees, DDTO 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, DDTO or BUFF?

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

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

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

What is the main difference between DDTO and BUFF?

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