FBUF vs. XCLR

Last updated Jun 20, 2026

FBUF (Fidelity Dynamic Buffered Equity ETF) and XCLR (Global X S&P 500 Collar 95-110 ETF) are both exchange-traded funds - FBUF is a Defined Outcome fund actively managed by Fidelity, while XCLR is a Equity Hedged fund tracking the Cboe S&P 500 3-Month Collar 95-110 Index. FBUF is actively managed, while XCLR is passively managed. Over the past year, FBUF returned 18.61% vs 13.47% for XCLR. Their correlation of 0.91 suggests significant overlap in exposure. FBUF charges 0.48%/yr vs 0.25%/yr for XCLR.

Performance

FBUF vs. XCLR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dynamic Buffered Equity ETF (FBUF) and Global X S&P 500 Collar 95-110 ETF (XCLR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBUF achieves a 4.81% return, which is significantly higher than XCLR's 2.50% return.

FBUF

• 1D: 0.80%
• 1M: 0.79%
• YTD: 4.81%
• 6M: 5.15%
• 1Y: 18.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XCLR

• 1D: -0.31%
• 1M: 0.76%
• YTD: 2.50%
• 6M: 2.65%
• 1Y: 13.47%
• 3Y*: 13.24%
• 5Y*: —
• 10Y*: —

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

FBUF vs. XCLR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	4.81%	14.01%	10.55%
XCLR Global X S&P 500 Collar 95-110 ETF	2.50%	10.25%	11.91%

Correlation

The correlation between FBUF and XCLR is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Apr 11, 2024	0.91

The correlation between FBUF and XCLR has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.

Return for Risk

FBUF vs. XCLR — Risk / Return Rank

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

FBUF

FBUF Risk / Return Rank: 76
FBUF Sharpe Ratio Rank: 77
FBUF Sortino Ratio Rank: 73
FBUF Omega Ratio Rank: 82
FBUF Calmar Ratio Rank: 69
FBUF Martin Ratio Rank: 78

XCLR

XCLR Risk / Return Rank: 43
XCLR Sharpe Ratio Rank: 47
XCLR Sortino Ratio Rank: 45
XCLR Omega Ratio Rank: 48
XCLR Calmar Ratio Rank: 33
XCLR Martin Ratio Rank: 42

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. XCLR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dynamic Buffered Equity ETF (FBUF) and Global X S&P 500 Collar 95-110 ETF (XCLR). 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.

	FBUF	XCLR	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.58	+0.74
Sortino ratio: Return per unit of downside risk	3.10	2.19	+0.91
Omega ratio: Gain probability vs. loss probability	1.46	1.29	+0.17
Calmar ratio: Return relative to maximum drawdown	3.33	1.59	+1.74
Martin ratio: Return relative to average drawdown	14.29	6.42	+7.87

FBUF vs. XCLR - Sharpe Ratio Comparison

The current FBUF Sharpe Ratio is 2.32, which is higher than the XCLR Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of FBUF and XCLR, 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

FBUF vs. XCLR - Drawdown Comparison

The maximum FBUF drawdown since its inception was -11.09%, smaller than the maximum XCLR drawdown of -14.63%. Use the drawdown chart below to compare losses from any high point for FBUF and XCLR.

Drawdown Indicators

	FBUF	XCLR	Difference
Max Drawdown Largest peak-to-trough decline	-11.09%	-14.63%	+3.54%
Max Drawdown (1Y) Largest decline over 1 year	-5.61%	-8.29%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.46%	—
Current Drawdown Current decline from peak	-0.70%	-0.31%	-0.39%
Average Drawdown Average peak-to-trough decline	-1.38%	-4.66%	+3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	2.05%	-0.74%

Volatility

FBUF vs. XCLR - Volatility Comparison

Fidelity Dynamic Buffered Equity ETF (FBUF) has a higher volatility of 3.33% compared to Global X S&P 500 Collar 95-110 ETF (XCLR) at 0.96%. This indicates that FBUF's price experiences larger fluctuations and is considered to be riskier than XCLR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBUF	XCLR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	0.96%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	6.15%	6.10%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	8.05%	8.34%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.68%	10.39%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.68%	10.39%	-0.71%

FBUF vs. XCLR - Expense Ratio Comparison

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

Dividends

FBUF vs. XCLR - Dividend Comparison

FBUF's dividend yield for the trailing twelve months is around 0.77%, less than XCLR's 12.83% yield.

Position	TTM	2025	2024	2023	2022	2021
FBUF Fidelity Dynamic Buffered Equity ETF	0.59%	0.64%	0.54%	0.00%	0.00%	0.00%
XCLR Global X S&P 500 Collar 95-110 ETF	12.83%	13.15%	18.76%	1.40%	1.01%	1.70%

Frequently Asked Questions

Can I hold both FBUF and XCLR in my portfolio?

FBUF and XCLR have a correlation of 0.87, 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 XCLR?

FBUF has higher volatility (3.33%) compared to XCLR (0.96%). In terms of maximum drawdown, FBUF dropped -11.09% vs XCLR's -14.63%.

Which ETF is better, FBUF or XCLR?

On 1-year performance, FBUF leads with 18.61% vs 13.47% for XCLR. On fees, XCLR is cheaper at 0.25% per year. On volatility, XCLR has been the lower-risk option at 0.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FBUF or XCLR?

Over the 1-year period, FBUF has performed better with a 18.61% return vs 13.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FBUF or XCLR?

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

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

XCLR has the higher dividend yield at 12.83%, compared with 0.59% for FBUF.

What is the main difference between FBUF and XCLR?

FBUF is categorized as Defined Outcome, while XCLR is Equity Hedged. They also come from different issuers: Fidelity and Global X. Their fees differ too: 0.48% for FBUF and 0.25% for XCLR.

Which has better risk-adjusted returns?

FBUF currently has the higher Sharpe Ratio (2.32 vs 1.58), 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.