FDEC vs. BUFD

Last updated Jun 4, 2026

FDEC (FT Vest U.S. Equity Buffer ETF - December) and BUFD (FT Vest Laddered Deep Buffer ETF) are both Defined Outcome funds from FT Vest. Both are actively managed. Over the past 5 years, FDEC returned 10.58%/yr vs 7.62%/yr for BUFD. Their correlation of 0.87 suggests significant overlap in exposure. FDEC charges 0.85%/yr vs 0.95%/yr for BUFD.

Performance

FDEC vs. BUFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Buffer ETF - December (FDEC) and FT Vest Laddered Deep Buffer ETF (BUFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDEC achieves a 6.38% return, which is significantly higher than BUFD's 5.08% return.

FDEC

• 1D: -0.19%
• 1M: 2.64%
• YTD: 6.38%
• 6M: 7.86%
• 1Y: 20.01%
• 3Y*: 15.93%
• 5Y*: 10.58%
• 10Y*: —

BUFD

• 1D: -0.08%
• 1M: 1.70%
• YTD: 5.08%
• 6M: 5.68%
• 1Y: 14.40%
• 3Y*: 12.09%
• 5Y*: 7.62%
• 10Y*: —

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

FDEC vs. BUFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FDEC FT Vest U.S. Equity Buffer ETF - December	6.38%	14.82%	14.32%	22.76%	-9.18%	12.57%
BUFD FT Vest Laddered Deep Buffer ETF	5.08%	10.66%	12.42%	15.40%	-7.70%	5.97%

Correlation

The correlation between FDEC and BUFD is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.87

The correlation between FDEC and BUFD has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

FDEC vs. BUFD - Sectors Allocation Comparison

Sectors	FDEC	BUFD
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

FDEC vs. BUFD — Risk / Return Rank

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

FDEC

FDEC Risk / Return Rank: 81
FDEC Sharpe Ratio Rank: 81
FDEC Sortino Ratio Rank: 85
FDEC Omega Ratio Rank: 85
FDEC Calmar Ratio Rank: 70
FDEC Martin Ratio Rank: 85

BUFD

BUFD Risk / Return Rank: 87
BUFD Sharpe Ratio Rank: 84
BUFD Sortino Ratio Rank: 91
BUFD Omega Ratio Rank: 89
BUFD Calmar Ratio Rank: 80
BUFD Martin Ratio Rank: 92

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.

FDEC vs. BUFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Buffer ETF - December (FDEC) and FT Vest Laddered Deep Buffer ETF (BUFD). 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.

	FDEC	BUFD	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.79	-0.15
Sortino ratio: Return per unit of downside risk	3.83	4.32	-0.49
Omega ratio: Gain probability vs. loss probability	1.52	1.58	-0.06
Calmar ratio: Return relative to maximum drawdown	3.44	4.21	-0.77
Martin ratio: Return relative to average drawdown	17.84	22.97	-5.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDEC vs. BUFD - Sharpe Ratio Comparison

The current FDEC Sharpe Ratio is 2.64, which is comparable to the BUFD Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of FDEC and BUFD, 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

	FDEC	BUFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.79	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.99	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.00	+0.04

Drawdowns

FDEC vs. BUFD - Drawdown Comparison

The maximum FDEC drawdown since its inception was -15.67%, which is greater than BUFD's maximum drawdown of -10.75%. Use the drawdown chart below to compare losses from any high point for FDEC and BUFD.

Drawdown Indicators

	FDEC	BUFD	Difference
Max Drawdown Largest peak-to-trough decline	-15.67%	-10.75%	-4.92%
Max Drawdown (1Y) Largest decline over 1 year	-5.83%	-3.43%	-2.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.04%	-10.15%	-2.89%
Max Drawdown (5Y) Largest decline over 5 years	-15.67%	-10.75%	-4.92%
Current Drawdown Current decline from peak	-0.19%	-0.15%	-0.04%
Average Drawdown Average peak-to-trough decline	-2.57%	-1.97%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.12%	0.63%	+0.49%

Volatility

FDEC vs. BUFD - Volatility Comparison

FT Vest U.S. Equity Buffer ETF - December (FDEC) has a higher volatility of 1.27% compared to FT Vest Laddered Deep Buffer ETF (BUFD) at 0.79%. This indicates that FDEC's price experiences larger fluctuations and is considered to be riskier than BUFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDEC	BUFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	0.79%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	5.92%	3.94%	+1.98%
Volatility (1Y) Calculated over the trailing 1-year period	7.62%	5.19%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.21%	7.73%	+3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.01%	7.55%	+3.46%

FDEC vs. BUFD - Expense Ratio Comparison

FDEC has a 0.85% expense ratio, which is lower than BUFD's 0.95% expense ratio.

Dividends

FDEC vs. BUFD - Dividend Comparison

Neither FDEC nor BUFD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FDEC and BUFD in my portfolio?

With a correlation of 0.93, FDEC and BUFD move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FDEC or BUFD?

FDEC has higher volatility (1.27%) compared to BUFD (0.79%). In terms of maximum drawdown, FDEC dropped -15.67% vs BUFD's -10.75%.

Which ETF is better, FDEC or BUFD?

On 5-year performance, FDEC leads with 10.58% vs 7.62% for BUFD. On fees, FDEC is cheaper at 0.85% per year. On volatility, BUFD has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDEC or BUFD?

Over the 5-year period, FDEC has performed better with a 10.58% return vs 7.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDEC or BUFD?

FDEC is cheaper with a 0.85% expense ratio, compared with 0.95% for BUFD.

Which ETF pays a higher dividend yield, FDEC or BUFD?

FDEC and BUFD have nearly identical dividend yields, around 0.00%.

What is the main difference between FDEC and BUFD?

Their fees differ too: 0.85% for FDEC and 0.95% for BUFD.

Which has better risk-adjusted returns?

BUFD currently has the higher Sharpe Ratio (2.79 vs 2.64), 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.