FB vs. BUFP

Last updated Jun 27, 2026

FB (ProShares S&P 500 Dynamic Daily Buffer ETF) and BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) are both Defined Outcome funds tracking the S&P 500, from ProShares and PGIM respectively. Both are passively managed. Over the past year, FB returned 11.37% vs 13.73% for BUFP. A 0.67 correlation means they provide meaningful diversification when combined. FB charges 0.58%/yr vs 0.50%/yr for BUFP.

Performance

FB vs. BUFP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Dynamic Daily Buffer ETF (FB) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FB having a 5.25% return and BUFP slightly higher at 5.41%.

FB

• 1D: -0.21%
• 1M: -0.73%
• YTD: 5.25%
• 6M: 5.14%
• 1Y: 11.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUFP

• 1D: -0.14%
• 1M: -0.73%
• YTD: 5.41%
• 6M: 5.09%
• 1Y: 13.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FB vs. BUFP - Yearly Performance Comparison

	2026 (YTD)	2025
FB ProShares S&P 500 Dynamic Daily Buffer ETF	5.25%	6.10%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	5.41%	8.71%

Correlation

The correlation between FB and BUFP is 0.68, 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	0.68
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.67

The correlation between FB and BUFP has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.

Return for Risk

FB vs. BUFP — Risk / Return Rank

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

FB

FB Risk / Return Rank: 93
FB Sharpe Ratio Rank: 88
FB Sortino Ratio Rank: 92
FB Omega Ratio Rank: 93
FB Calmar Ratio Rank: 95
FB Martin Ratio Rank: 95

BUFP

BUFP Risk / Return Rank: 82
BUFP Sharpe Ratio Rank: 80
BUFP Sortino Ratio Rank: 84
BUFP Omega Ratio Rank: 86
BUFP Calmar Ratio Rank: 73
BUFP 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.

FB vs. BUFP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Dynamic Daily Buffer ETF (FB) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). 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.

	FB	BUFP	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.22	+0.27
Sortino ratio: Return per unit of downside risk	3.76	3.27	+0.49
Omega ratio: Gain probability vs. loss probability	1.54	1.45	+0.09
Calmar ratio: Return relative to maximum drawdown	7.04	3.20	+3.84
Martin ratio: Return relative to average drawdown	25.23	17.35	+7.88

FB vs. BUFP - Sharpe Ratio Comparison

The current FB Sharpe Ratio is 2.49, which is comparable to the BUFP Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FB and BUFP, 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

FB vs. BUFP - Drawdown Comparison

The maximum FB drawdown since its inception was -1.76%, smaller than the maximum BUFP drawdown of -11.98%. Use the drawdown chart below to compare losses from any high point for FB and BUFP.

Drawdown Indicators

	FB	BUFP	Difference
Max Drawdown Largest peak-to-trough decline	-1.76%	-11.98%	+10.22%
Max Drawdown (1Y) Largest decline over 1 year	-1.76%	-4.41%	+2.65%
Current Drawdown Current decline from peak	-0.89%	-1.04%	+0.15%
Average Drawdown Average peak-to-trough decline	-0.33%	-0.99%	+0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.49%	0.81%	-0.32%

Volatility

FB vs. BUFP - Volatility Comparison

ProShares S&P 500 Dynamic Daily Buffer ETF (FB) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) have volatilities of 2.11% and 2.11%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FB	BUFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	2.11%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	3.56%	5.13%	-1.57%
Volatility (1Y) Calculated over the trailing 1-year period	5.00%	6.36%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.00%	9.44%	-4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.00%	9.44%	-4.44%

FB vs. BUFP - Expense Ratio Comparison

FB has a 0.58% expense ratio, which is higher than BUFP's 0.50% expense ratio.

Dividends

FB vs. BUFP - Dividend Comparison

FB's dividend yield for the trailing twelve months is around 2.02%, more than BUFP's 0.01% yield.

Position	TTM	2025	2024
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%
FB ProShares S&P 500 Dynamic Daily Buffer ETF	2.02%	0.92%	0.00%

Frequently Asked Questions

Can I hold both FB and BUFP in my portfolio?

FB and BUFP have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FB or BUFP?

BUFP has higher volatility (2.11%) compared to FB (2.11%). In terms of maximum drawdown, FB dropped -1.76% vs BUFP's -11.98%.

Which ETF is better, FB or BUFP?

On 1-year performance, BUFP leads with 13.73% vs 11.37% for FB. On fees, BUFP is cheaper at 0.50% 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, FB or BUFP?

Over the 1-year period, BUFP has performed better with a 13.73% return vs 11.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FB or BUFP?

BUFP is cheaper with a 0.50% expense ratio, compared with 0.58% for FB.

Which ETF pays a higher dividend yield, FB or BUFP?

FB has the higher dividend yield at 2.02%, compared with 0.01% for BUFP.

What is the main difference between FB and BUFP?

Both ETFs track S&P 500. They also come from different issuers: ProShares and PGIM. Their fees differ too: 0.58% for FB and 0.50% for BUFP.

Which has better risk-adjusted returns?

FB currently has the higher Sharpe Ratio (2.49 vs 2.22), 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.