FBUF vs. FDVV

Last updated Jun 4, 2026

FBUF (Fidelity Dynamic Buffered Equity ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - FBUF is a Defined Outcome fund actively managed by Fidelity, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. FBUF is actively managed, while FDVV is passively managed. Over the past year, FBUF returned 19.61% vs 23.45% for FDVV. A 0.75 correlation means they provide meaningful diversification when combined. FBUF charges 0.48%/yr vs 0.29%/yr for FDVV.

Performance

FBUF vs. FDVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dynamic Buffered Equity ETF (FBUF) and Fidelity High Dividend ETF (FDVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBUF achieves a 5.32% return, which is significantly lower than FDVV's 8.39% return.

FBUF

• 1D: -0.12%
• 1M: 2.85%
• YTD: 5.32%
• 6M: 6.28%
• 1Y: 19.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDVV

• 1D: -1.12%
• 1M: 4.44%
• YTD: 8.39%
• 6M: 8.67%
• 1Y: 23.45%
• 3Y*: 20.08%
• 5Y*: 13.36%
• 10Y*: —

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

FBUF vs. FDVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	5.32%	14.01%	10.13%
FDVV Fidelity High Dividend ETF	8.39%	17.08%	14.12%

Correlation

The correlation between FBUF and FDVV is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Apr 12, 2024	0.75

The correlation between FBUF and FDVV has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

Return for Risk

FBUF vs. FDVV — Risk / Return Rank

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

FBUF

FBUF Risk / Return Rank: 79
FBUF Sharpe Ratio Rank: 80
FBUF Sortino Ratio Rank: 79
FBUF Omega Ratio Rank: 86
FBUF Calmar Ratio Rank: 70
FBUF Martin Ratio Rank: 80

FDVV

FDVV Risk / Return Rank: 64
FDVV Sharpe Ratio Rank: 70
FDVV Sortino Ratio Rank: 71
FDVV Omega Ratio Rank: 71
FDVV Calmar Ratio Rank: 50
FDVV Martin Ratio Rank: 58

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.

FBUF vs. FDVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dynamic Buffered Equity ETF (FBUF) and Fidelity High Dividend ETF (FDVV). 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.

	FBUF	FDVV	Difference
Sharpe ratio: Return per unit of total volatility	2.63	2.35	+0.28
Sortino ratio: Return per unit of downside risk	3.55	3.28	+0.27
Omega ratio: Gain probability vs. loss probability	1.53	1.43	+0.10
Calmar ratio: Return relative to maximum drawdown	3.51	2.53	+0.98
Martin ratio: Return relative to average drawdown	15.68	10.54	+5.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBUF vs. FDVV - Sharpe Ratio Comparison

The current FBUF Sharpe Ratio is 2.63, which is comparable to the FDVV Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FBUF and FDVV, 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

	FBUF	FDVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	2.35	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	0.79	+0.68

Drawdowns

FBUF vs. FDVV - Drawdown Comparison

The maximum FBUF drawdown since its inception was -11.09%, smaller than the maximum FDVV drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for FBUF and FDVV.

Drawdown Indicators

	FBUF	FDVV	Difference
Max Drawdown Largest peak-to-trough decline	-11.09%	-40.25%	+29.16%
Max Drawdown (1Y) Largest decline over 1 year	-5.61%	-9.30%	+3.69%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.18%	—
Current Drawdown Current decline from peak	-0.22%	-1.12%	+0.90%
Average Drawdown Average peak-to-trough decline	-1.38%	-3.81%	+2.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	2.23%	-0.98%

Volatility

FBUF vs. FDVV - Volatility Comparison

The current volatility for Fidelity Dynamic Buffered Equity ETF (FBUF) is 1.11%, while Fidelity High Dividend ETF (FDVV) has a volatility of 3.14%. This indicates that FBUF experiences smaller price fluctuations and is considered to be less risky than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBUF	FDVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	3.14%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	5.37%	7.99%	-2.62%
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	10.06%	-2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.55%	14.75%	-5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.55%	17.00%	-7.45%

FBUF vs. FDVV - Expense Ratio Comparison

FBUF has a 0.48% expense ratio, which is higher than FDVV's 0.29% expense ratio.

Dividends

FBUF vs. FDVV - Dividend Comparison

FBUF's dividend yield for the trailing twelve months is around 0.63%, less than FDVV's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FBUF Fidelity Dynamic Buffered Equity ETF	0.63%	0.64%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDVV Fidelity High Dividend ETF	2.72%	2.89%	2.94%	3.77%	3.44%	2.70%	3.19%	3.93%	4.05%	3.66%	1.04%

Frequently Asked Questions

Can I hold both FBUF and FDVV in my portfolio?

FBUF and FDVV have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBUF or FDVV?

FDVV has higher volatility (3.14%) compared to FBUF (1.11%). In terms of maximum drawdown, FBUF dropped -11.09% vs FDVV's -40.25%.

Which ETF is better, FBUF or FDVV?

On 1-year performance, FDVV leads with 23.45% vs 19.61% for FBUF. On fees, FDVV is cheaper at 0.29% per year. On volatility, FBUF has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBUF or FDVV?

Over the 1-year period, FDVV has performed better with a 23.45% return vs 19.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBUF or FDVV?

FDVV is cheaper with a 0.29% expense ratio, compared with 0.48% for FBUF.

Which ETF pays a higher dividend yield, FBUF or FDVV?

FDVV has the higher dividend yield at 2.72%, compared with 0.63% for FBUF.

What is the main difference between FBUF and FDVV?

FBUF is categorized as Defined Outcome, while FDVV is Large Cap Blend Equities. Their fees differ too: 0.48% for FBUF and 0.29% for FDVV.

Which has better risk-adjusted returns?

FBUF currently has the higher Sharpe Ratio (2.63 vs 2.35), 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.