EBUF vs. TDEC

Last updated Jun 23, 2026

EBUF (Innovator Emerging Markets 10 Buffer ETF - Quarterly) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both Defined Outcome funds. EBUF is actively managed, while TDEC is passively managed. Over the past year, EBUF returned 16.34% vs 23.62% for TDEC. Their correlation of 0.84 suggests significant overlap in exposure. EBUF charges 0.89%/yr vs 0.95%/yr for TDEC.

Performance

EBUF vs. TDEC - Performance Comparison

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

Returns By Period

In the year-to-date period, EBUF achieves a 10.75% return, which is significantly higher than TDEC's 10.01% return.

EBUF

• 1D: 0.26%
• 1M: 1.58%
• YTD: 10.75%
• 6M: 11.89%
• 1Y: 16.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDEC

• 1D: 0.22%
• 1M: 2.09%
• YTD: 10.01%
• 6M: 11.45%
• 1Y: 23.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EBUF vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly	10.75%	11.55%	0.31%
TDEC FT Vest Emerging Markets Buffer ETF - December	10.01%	21.39%	-0.75%

Correlation

The correlation between EBUF and TDEC 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 (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.84

The correlation between EBUF and TDEC has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

EBUF vs. TDEC — 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: 89
EBUF Sortino Ratio Rank: 94
EBUF Omega Ratio Rank: 95
EBUF Calmar Ratio Rank: 96
EBUF Martin Ratio Rank: 96

TDEC

TDEC Risk / Return Rank: 73
TDEC Sharpe Ratio Rank: 73
TDEC Sortino Ratio Rank: 73
TDEC Omega Ratio Rank: 87
TDEC Calmar Ratio Rank: 61
TDEC Martin Ratio Rank: 70

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. TDEC - Risk-Adjusted Trends Comparison

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

	EBUF	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	2.87	2.27	+0.60
Sortino ratio: Return per unit of downside risk	4.72	3.13	+1.59
Omega ratio: Gain probability vs. loss probability	1.70	1.51	+0.19
Calmar ratio: Return relative to maximum drawdown	9.01	2.91	+6.10
Martin ratio: Return relative to average drawdown	35.61	12.58	+23.03

EBUF vs. TDEC - Sharpe Ratio Comparison

The current EBUF Sharpe Ratio is 2.87, which is comparable to the TDEC Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of EBUF and TDEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EBUF vs. TDEC - Drawdown Comparison

The maximum EBUF drawdown since its inception was -6.49%, smaller than the maximum TDEC drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for EBUF and TDEC.

Drawdown Indicators

	EBUF	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-6.49%	-10.30%	+3.81%
Max Drawdown (1Y) Largest decline over 1 year	-1.82%	-8.16%	+6.34%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.49%	-1.04%	+0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	1.88%	-1.42%

Volatility

EBUF vs. TDEC - Volatility Comparison

The current volatility for Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) is 1.95%, while FT Vest Emerging Markets Buffer ETF - December (TDEC) has a volatility of 3.93%. This indicates that EBUF experiences smaller price fluctuations and is considered to be less risky than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBUF	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	3.93%	-1.98%
Volatility (6M) Calculated over the trailing 6-month period	4.84%	9.72%	-4.88%
Volatility (1Y) Calculated over the trailing 1-year period	5.74%	10.50%	-4.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	11.91%	-5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.66%	11.91%	-5.25%

EBUF vs. TDEC - Expense Ratio Comparison

EBUF has a 0.89% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

EBUF vs. TDEC - Dividend Comparison

Neither EBUF nor TDEC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EBUF and TDEC in my portfolio?

EBUF and TDEC 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 is riskier, EBUF or TDEC?

TDEC has higher volatility (3.93%) compared to EBUF (1.95%). In terms of maximum drawdown, EBUF dropped -6.49% vs TDEC's -10.30%.

Which ETF is better, EBUF or TDEC?

On 1-year performance, TDEC leads with 23.62% vs 16.34% for EBUF. On fees, EBUF is cheaper at 0.89% per year. On volatility, EBUF has been the lower-risk option at 1.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBUF or TDEC?

Over the 1-year period, TDEC has performed better with a 23.62% return vs 16.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBUF or TDEC?

EBUF is cheaper with a 0.89% expense ratio, compared with 0.95% for TDEC.

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

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

What is the main difference between EBUF and TDEC?

They also come from different issuers: Innovator and FT Vest. Their fees differ too: 0.89% for EBUF and 0.95% for TDEC.

Which has better risk-adjusted returns?

EBUF currently has the higher Sharpe Ratio (2.87 vs 2.27), 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.