EIPI vs. BUYW

Last updated Jun 4, 2026

EIPI (FT Energy Income Partners Enhanced Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, EIPI returned 21.45% vs 9.76% for BUYW. At a 0.32 correlation, their price movements are largely independent. EIPI charges 1.11%/yr vs 1.29%/yr for BUYW.

Performance

EIPI vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Energy Income Partners Enhanced Income ETF (EIPI) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIPI achieves a 14.55% return, which is significantly higher than BUYW's 3.39% return.

EIPI

• 1D: 0.05%
• 1M: -2.14%
• YTD: 14.55%
• 6M: 13.67%
• 1Y: 21.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

EIPI vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EIPI FT Energy Income Partners Enhanced Income ETF	14.55%	12.38%	12.83%
BUYW Main Buywrite ETF	3.39%	9.08%	5.92%

Correlation

The correlation between EIPI and BUYW is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since May 7, 2024	0.32

The correlation between EIPI and BUYW shifts across timeframes, from 0.13 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

EIPI vs. BUYW - Sectors Allocation Comparison

Sectors	EIPI	BUYW
Energy	62.8%	13.6%
Utilities	31.0%	1.3%
Industrials	5.5%	4.4%
Basic Materials	0.7%	1.0%
Communication Services	-	16.9%
Consumer Cyclical	-	6.4%
Consumer Defensive	-	3.2%
Financial Services	-	15.3%
Healthcare	-	13.0%
Real Estate	-	1.0%
Technology	-	24.0%

Return for Risk

EIPI vs. BUYW — Risk / Return Rank

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

EIPI

EIPI Risk / Return Rank: 75
EIPI Sharpe Ratio Rank: 68
EIPI Sortino Ratio Rank: 72
EIPI Omega Ratio Rank: 63
EIPI Calmar Ratio Rank: 89
EIPI Martin Ratio Rank: 81

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

EIPI vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Energy Income Partners Enhanced Income ETF (EIPI) and Main Buywrite ETF (BUYW). 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.

	EIPI	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.03	+0.23
Sortino ratio: Return per unit of downside risk	3.30	3.08	+0.22
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.02
Calmar ratio: Return relative to maximum drawdown	5.39	3.79	+1.60
Martin ratio: Return relative to average drawdown	16.30	20.24	-3.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIPI vs. BUYW - Sharpe Ratio Comparison

The current EIPI Sharpe Ratio is 2.26, which is comparable to the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of EIPI and BUYW, 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

	EIPI	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.03	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	1.17	+0.35

Drawdowns

EIPI vs. BUYW - Drawdown Comparison

The maximum EIPI drawdown since its inception was -12.33%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for EIPI and BUYW.

Drawdown Indicators

	EIPI	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-12.33%	-9.36%	-2.97%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-2.59%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-2.62%	-0.21%	-2.41%
Average Drawdown Average peak-to-trough decline	-1.67%	-0.61%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	0.48%	+0.84%

Volatility

EIPI vs. BUYW - Volatility Comparison

FT Energy Income Partners Enhanced Income ETF (EIPI) has a higher volatility of 3.59% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that EIPI's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIPI	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	1.02%	+2.57%
Volatility (6M) Calculated over the trailing 6-month period	7.30%	4.03%	+3.27%
Volatility (1Y) Calculated over the trailing 1-year period	9.55%	4.85%	+4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.08%	8.47%	+4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.08%	8.47%	+4.61%

EIPI vs. BUYW - Expense Ratio Comparison

EIPI has a 1.11% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

EIPI vs. BUYW - Dividend Comparison

EIPI's dividend yield for the trailing twelve months is around 6.78%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
EIPI FT Energy Income Partners Enhanced Income ETF	6.78%	9.71%	6.31%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EIPI and BUYW in my portfolio?

EIPI and BUYW have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIPI or BUYW?

EIPI has higher volatility (3.59%) compared to BUYW (1.02%). In terms of maximum drawdown, EIPI dropped -12.33% vs BUYW's -9.36%.

Which ETF is better, EIPI or BUYW?

On 1-year performance, EIPI leads with 21.45% vs 9.76% for BUYW. On fees, EIPI is cheaper at 1.11% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIPI or BUYW?

Over the 1-year period, EIPI has performed better with a 21.45% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIPI or BUYW?

EIPI is cheaper with a 1.11% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, EIPI or BUYW?

EIPI has the higher dividend yield at 6.78%, compared with 5.91% for BUYW.

What is the main difference between EIPI and BUYW?

They also come from different issuers: First Trust and Main Funds. Their fees differ too: 1.11% for EIPI and 1.29% for BUYW.

Which has better risk-adjusted returns?

EIPI currently has the higher Sharpe Ratio (2.26 vs 2.03), 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.