FBUF vs. JULB

Last updated Jun 4, 2026

FBUF (Fidelity Dynamic Buffered Equity ETF) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.90 suggests significant overlap in exposure. FBUF charges 0.48%/yr vs 0.25%/yr for JULB.

Performance

FBUF vs. JULB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dynamic Buffered Equity ETF (FBUF) and Aptus July Buffer ETF (JULB). 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 JULB's 6.35% return.

FBUF

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

JULB

• 1D: -0.07%
• 1M: 2.40%
• YTD: 6.35%
• 6M: 6.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBUF vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
FBUF Fidelity Dynamic Buffered Equity ETF	5.32%	3.87%
JULB Aptus July Buffer ETF	6.35%	2.56%

Correlation

The correlation between FBUF and JULB is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.90

Return for Risk

FBUF vs. JULB — 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

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. JULB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dynamic Buffered Equity ETF (FBUF) and Aptus July Buffer ETF (JULB). 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	JULB	Difference
Sharpe ratio: Return per unit of total volatility	2.63	—	—
Sortino ratio: Return per unit of downside risk	3.55	—	—
Omega ratio: Gain probability vs. loss probability	1.53	—	—
Calmar ratio: Return relative to maximum drawdown	3.51	—	—
Martin ratio: Return relative to average drawdown	15.68	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FBUF	JULB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.47	2.17	-0.70

Drawdowns

FBUF vs. JULB - Drawdown Comparison

The maximum FBUF drawdown since its inception was -11.09%, which is greater than JULB's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for FBUF and JULB.

Drawdown Indicators

	FBUF	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-11.09%	-5.24%	-5.85%
Max Drawdown (1Y) Largest decline over 1 year	-5.61%	—	—
Current Drawdown Current decline from peak	-0.22%	-0.07%	-0.15%
Average Drawdown Average peak-to-trough decline	-1.38%	-0.87%	-0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	—	—

Volatility

Volatility by Period

	FBUF	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	6.81%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.55%	6.81%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.55%	6.81%	+2.74%

FBUF vs. JULB - Expense Ratio Comparison

FBUF has a 0.48% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

FBUF vs. JULB - Dividend Comparison

FBUF's dividend yield for the trailing twelve months is around 0.63%, while JULB has not paid dividends to shareholders.

Position	TTM	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	0.63%	0.64%	0.54%
JULB Aptus July Buffer ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBUF and JULB in my portfolio?

FBUF and JULB have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBUF or JULB?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBUF or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.48% for FBUF.

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

FBUF has the higher dividend yield at 0.63%, compared with 0.00% for JULB.

What is the main difference between FBUF and JULB?

They also come from different issuers: Fidelity and Aptus Capital Advisors. Their fees differ too: 0.48% for FBUF and 0.25% for JULB.