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EBUF vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EBUF vs. EEM

Last updated Apr 7, 2026

Compare and contrast key facts about Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) and iShares MSCI Emerging Markets ETF (EEM).

EBUF and EEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EBUF is an actively managed fund by Innovator. It was launched on Jun 28, 2024. EEM is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Index. It was launched on Apr 11, 2003.

Performance

EBUF vs. EEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) and iShares MSCI Emerging Markets ETF (EEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EBUF achieves a 3.34% return, which is significantly lower than EEM's 4.39% return.

EBUF

1D
0.35%
1M
2.27%
YTD
3.34%
6M
5.18%
1Y
15.77%
3Y*
—
5Y*
—
10Y*
—

EEM

1D
0.92%
1M
-0.37%
YTD
4.39%
6M
6.33%
1Y
44.13%
3Y*
16.01%
5Y*
3.68%
10Y*
7.88%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EBUF vs. EEM - Yearly Performance Comparison

2026 (YTD)20252024
EBUF
Innovator Emerging Markets 10 Buffer ETF - Quarterly		3.34%11.55%2.86%
EEM
iShares MSCI Emerging Markets ETF		4.39%33.98%-0.38%

Correlation

The correlation between EBUF and EEM is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they'll tend to fall together during downturns. For meaningful risk reduction, look for holdings with correlations below 0.5.

EBUF vs. EEM - Expense Ratio Comparison

EBUF has a 0.89% expense ratio, which is higher than EEM's 0.72% expense ratio.

EBUF
Innovator Emerging Markets 10 Buffer ETF - Quarterly
EEM
iShares MSCI Emerging Markets ETF

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Innovator Emerging Markets 10 Buffer ETF - Quarterly

iShares MSCI Emerging Markets ETF

Often compared with EBUF:
EBUF vs. LJULEBUF vs. BUFFEBUF vs. JAJLEBUF vs. EAPREBUF vs. BOUTEBUF vs. PJULEBUF vs. IBUF
Often compared with EEM:
EEM vs. VWOEEM vs. IEMGEEM vs. SPYEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. EEMV

Return for Risk

EBUF vs. EEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EBUF
EBUF Risk / Return Rank: 8484
Overall Rank
EBUF Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
EBUF Sortino Ratio Rank: 9191
Sortino Ratio Rank
EBUF Omega Ratio Rank: 9595
Omega Ratio Rank
EBUF Calmar Ratio Rank: 5959
Calmar Ratio Rank
EBUF Martin Ratio Rank: 9393
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 8585
Overall Rank
EEM Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 9494
Sortino Ratio Rank
EEM Omega Ratio Rank: 9393
Omega Ratio Rank
EEM Calmar Ratio Rank: 7373
Calmar Ratio Rank
EEM Martin Ratio Rank: 7272
Martin Ratio Rank
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. EEM - Risk-Adjusted Trends Comparison

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

EBUFEEMDifference

Sharpe ratio

Return per unit of total volatility

2.24

2.30

-0.06

Sortino ratio

Return per unit of downside risk

3.79

3.09

+0.70

Omega ratio

Gain probability vs. loss probability

1.64

1.44

+0.20

Calmar ratio

Return relative to maximum drawdown

2.11

2.46

-0.35

Martin ratio

Return relative to average drawdown

17.00

9.45

+7.55

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. EEM - Sharpe Ratio Comparison

The current EBUF Sharpe Ratio is 2.24, which is comparable to the EEM Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of EBUF and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EBUFEEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.24

2.30

-0.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.20

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.39

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.56

0.35

+1.21

Drawdowns

EBUF vs. EEM - Drawdown Comparison

The maximum EBUF drawdown since its inception was -6.49%, smaller than the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for EBUF and EEM.

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Drawdown Indicators

EBUFEEMDifference

Max Drawdown

Largest peak-to-trough decline

-6.49%

-66.43%

+59.94%

Max Drawdown (1Y)

Largest decline over 1 year

-1.82%

-13.52%

+11.70%

Max Drawdown (5Y)

Largest decline over 5 years

—

-37.82%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.82%

—

Current Drawdown

Current decline from peak

-0.13%

-9.79%

+9.66%

Average Drawdown

Average peak-to-trough decline

-0.53%

-16.12%

+15.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.71%

3.52%

-2.81%

Volatility

EBUF vs. EEM - Volatility Comparison

The current volatility for Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) is 3.03%, while iShares MSCI Emerging Markets ETF (EEM) has a volatility of 9.24%. This indicates that EBUF experiences smaller price fluctuations and is considered to be less risky than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EBUFEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.03%

9.24%

-6.21%

Volatility (6M)

Calculated over the trailing 6-month period

4.48%

15.18%

-10.70%

Volatility (1Y)

Calculated over the trailing 1-year period

7.11%

19.42%

-12.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.57%

18.44%

-11.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.57%

20.31%

-13.74%

Dividends

EBUF vs. EEM - Dividend Comparison

EBUF has not paid dividends to shareholders, while EEM's dividend yield for the trailing twelve months is around 2.13%.

TTM20252024202320222021202020192018201720162015
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%0.00%
EEM
iShares MSCI Emerging Markets ETF		2.13%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%