DFEB vs. BUFD

Last updated Jun 6, 2026

DFEB (FT Vest U.S. Equity Deep Buffer ETF - February) and BUFD (FT Vest Laddered Deep Buffer ETF) are both Defined Outcome funds from FT Vest. Both are actively managed. Over the past 5 years, DFEB returned 8.07%/yr vs 7.48%/yr for BUFD. Their correlation of 0.84 suggests significant overlap in exposure. DFEB charges 0.85%/yr vs 0.95%/yr for BUFD.

Performance

DFEB 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 - February (DFEB) and FT Vest Laddered Deep Buffer ETF (BUFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFEB achieves a 5.07% return, which is significantly higher than BUFD's 4.43% return.

DFEB

• 1D: -0.83%
• 1M: 0.37%
• YTD: 5.07%
• 6M: 5.87%
• 1Y: 15.29%
• 3Y*: 13.15%
• 5Y*: 8.07%
• 10Y*: —

BUFD

• 1D: -0.77%
• 1M: 0.37%
• YTD: 4.43%
• 6M: 4.83%
• 1Y: 14.04%
• 3Y*: 11.82%
• 5Y*: 7.48%
• 10Y*: —

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

DFEB vs. BUFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFEB FT Vest U.S. Equity Deep Buffer ETF - February	5.07%	11.79%	13.87%	12.47%	-5.41%	8.23%
BUFD FT Vest Laddered Deep Buffer ETF	4.43%	10.66%	12.42%	15.40%	-7.70%	5.97%

Correlation

The correlation between DFEB and BUFD is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.84

The correlation between DFEB and BUFD has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

DFEB vs. BUFD - Sectors Allocation Comparison

Sectors	DFEB	BUFD
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

DFEB vs. BUFD — Risk / Return Rank

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

DFEB

DFEB Risk / Return Rank: 88
DFEB Sharpe Ratio Rank: 89
DFEB Sortino Ratio Rank: 92
DFEB Omega Ratio Rank: 92
DFEB Calmar Ratio Rank: 78
DFEB Martin Ratio Rank: 90

BUFD

BUFD Risk / Return Rank: 88
BUFD Sharpe Ratio Rank: 85
BUFD Sortino Ratio Rank: 91
BUFD Omega Ratio Rank: 90
BUFD Calmar Ratio Rank: 81
BUFD Martin Ratio Rank: 92

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.

DFEB 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 - February (DFEB) 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.

	DFEB	BUFD	Difference
Sharpe ratio: Return per unit of total volatility	2.83	2.69	+0.14
Sortino ratio: Return per unit of downside risk	4.17	4.11	+0.06
Omega ratio: Gain probability vs. loss probability	1.59	1.56	+0.03
Calmar ratio: Return relative to maximum drawdown	3.76	4.11	-0.35
Martin ratio: Return relative to average drawdown	19.61	22.33	-2.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFEB vs. BUFD - Sharpe Ratio Comparison

The current DFEB Sharpe Ratio is 2.83, which is comparable to the BUFD Sharpe Ratio of 2.69. The chart below compares the historical Sharpe Ratios of DFEB 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.

Sharpe Ratios by Period

	DFEB	BUFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	2.69	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.11	0.97	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.98	-0.05

Drawdowns

DFEB vs. BUFD - Drawdown Comparison

The maximum DFEB drawdown since its inception was -14.07%, which is greater than BUFD's maximum drawdown of -10.75%. Use the drawdown chart below to compare losses from any high point for DFEB and BUFD.

Drawdown Indicators

	DFEB	BUFD	Difference
Max Drawdown Largest peak-to-trough decline	-14.07%	-10.75%	-3.32%
Max Drawdown (1Y) Largest decline over 1 year	-4.09%	-3.43%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-8.33%	-10.15%	+1.82%
Max Drawdown (5Y) Largest decline over 5 years	-10.02%	-10.75%	+0.73%
Current Drawdown Current decline from peak	-0.83%	-0.77%	-0.06%
Average Drawdown Average peak-to-trough decline	-2.04%	-1.97%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.63%	+0.15%

Volatility

DFEB vs. BUFD - Volatility Comparison

FT Vest U.S. Equity Deep Buffer ETF - February (DFEB) has a higher volatility of 1.18% compared to FT Vest Laddered Deep Buffer ETF (BUFD) at 1.08%. This indicates that DFEB'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

	DFEB	BUFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	1.08%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	4.11%	4.03%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	5.46%	5.25%	+0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.32%	7.73%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.96%	7.55%	+1.41%

DFEB vs. BUFD - Expense Ratio Comparison

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

Dividends

DFEB vs. BUFD - Dividend Comparison

Neither DFEB nor BUFD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DFEB and BUFD in my portfolio?

With a correlation of 0.91, DFEB 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, DFEB or BUFD?

DFEB has higher volatility (1.18%) compared to BUFD (1.08%). In terms of maximum drawdown, DFEB dropped -14.07% vs BUFD's -10.75%.

Which ETF is better, DFEB or BUFD?

On 5-year performance, DFEB leads with 8.07% vs 7.48% for BUFD. On fees, DFEB is cheaper at 0.85% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFEB or BUFD?

Over the 5-year period, DFEB has performed better with a 8.07% return vs 7.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFEB or BUFD?

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

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

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

What is the main difference between DFEB and BUFD?

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

Which has better risk-adjusted returns?

DFEB currently has the higher Sharpe Ratio (2.83 vs 2.69), 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.