EBUF vs. BUFF

Last updated Jun 5, 2026

EBUF (Innovator Emerging Markets 10 Buffer ETF - Quarterly) and BUFF (Innovator Laddered Allocation Power Buffer ETF) are both Defined Outcome funds from Innovator. EBUF is actively managed, while BUFF is passively managed. Over the past year, EBUF returned 16.13% vs 14.66% for BUFF. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.89% expense ratio.

Performance

EBUF vs. BUFF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) 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, EBUF achieves a 9.96% return, which is significantly higher than BUFF's 5.58% return.

EBUF

• 1D: -0.13%
• 1M: 1.04%
• YTD: 9.96%
• 6M: 11.41%
• 1Y: 16.13%
• 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)

EBUF vs. BUFF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly	9.96%	11.55%	2.86%
BUFF Innovator Laddered Allocation Power Buffer ETF	5.58%	11.02%	4.56%

Correlation

The correlation between EBUF and BUFF is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Jul 2, 2024	0.60

The correlation between EBUF and BUFF has been stable across timeframes, ranging from 0.60 to 0.62 - a consistent structural relationship.

EBUF vs. BUFF - Sectors Allocation Comparison

Sectors	EBUF	BUFF
Technology	36.9%	36.2%
Financial Services	19.5%	11.9%
Consumer Cyclical	9.5%	10.1%
Industrials	7.5%	8.1%
Communication Services	6.9%	10.9%
Basic Materials	6.5%	1.8%
Energy	4.1%	3.5%
Consumer Defensive	3.0%	4.9%
Healthcare	2.9%	8.4%
Utilities	2.1%	2.3%
Real Estate	1.1%	1.9%

Return for Risk

EBUF vs. BUFF — Risk / Return Rank

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

EBUF

EBUF Risk / Return Rank: 94
EBUF Sharpe Ratio Rank: 88
EBUF Sortino Ratio Rank: 94
EBUF Omega Ratio Rank: 95
EBUF Calmar Ratio Rank: 96
EBUF Martin Ratio Rank: 96

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.

EBUF vs. BUFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) 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.

	EBUF	BUFF	Difference
Sharpe ratio: Return per unit of total volatility	2.92	2.86	+0.06
Sortino ratio: Return per unit of downside risk	4.94	4.32	+0.62
Omega ratio: Gain probability vs. loss probability	1.73	1.60	+0.13
Calmar ratio: Return relative to maximum drawdown	8.90	4.11	+4.79
Martin ratio: Return relative to average drawdown	36.42	21.95	+14.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EBUF vs. BUFF - Sharpe Ratio Comparison

The current EBUF Sharpe Ratio is 2.92, which is comparable to the BUFF Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of EBUF and BUFF, 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

	EBUF	BUFF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.92	2.86	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.04	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.94	0.49	+1.45

Drawdowns

EBUF vs. BUFF - Drawdown Comparison

The maximum EBUF drawdown since its inception was -6.49%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for EBUF and BUFF.

Drawdown Indicators

	EBUF	BUFF	Difference
Max Drawdown Largest peak-to-trough decline	-6.49%	-46.23%	+39.74%
Max Drawdown (1Y) Largest decline over 1 year	-1.82%	-3.58%	+1.76%
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	-0.13%	-0.11%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.49%	-6.18%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.67%	-0.23%

Volatility

EBUF vs. BUFF - Volatility Comparison

Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) has a higher volatility of 1.69% compared to Innovator Laddered Allocation Power Buffer ETF (BUFF) at 1.01%. This indicates that EBUF's price experiences larger fluctuations and is considered to be riskier than BUFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBUF	BUFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.69%	1.01%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	4.72%	3.83%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	5.55%	5.15%	+0.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.65%	8.41%	-1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.65%	17.67%	-11.02%

EBUF vs. BUFF - Expense Ratio Comparison

Both EBUF and BUFF have an expense ratio of 0.89%.

Dividends

EBUF vs. BUFF - Dividend Comparison

Neither EBUF 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%
EBUF Innovator Emerging Markets 10 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 EBUF and BUFF in my portfolio?

EBUF and BUFF have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EBUF or BUFF?

EBUF has higher volatility (1.69%) compared to BUFF (1.01%). In terms of maximum drawdown, EBUF dropped -6.49% vs BUFF's -46.23%.

Which ETF is better, EBUF or BUFF?

On 1-year performance, EBUF leads with 16.13% vs 14.66% for BUFF. Both ETFs have the same 0.89% expense ratio. On volatility, BUFF has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBUF or BUFF?

Over the 1-year period, EBUF has performed better with a 16.13% return vs 14.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBUF or BUFF?

EBUF and BUFF have the same expense ratio: 0.89% per year.

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

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

Which has better risk-adjusted returns?

EBUF currently has the higher Sharpe Ratio (2.92 vs 2.86), 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.