FOCT vs. FFEB

Last updated Jun 4, 2026

FOCT (FT Vest U.S. Equity Buffer ETF - October) and FFEB (FT Vest U.S. Equity Buffer ETF - February) are both Defined Outcome funds from FT Vest. Both are actively managed. Over the past 5 years, FOCT returned 9.14%/yr vs 11.09%/yr for FFEB. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

FOCT vs. FFEB - Performance Comparison

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

Returns By Period

In the year-to-date period, FOCT achieves a 6.65% return, which is significantly lower than FFEB's 7.65% return.

FOCT

• 1D: -0.23%
• 1M: 2.64%
• YTD: 6.65%
• 6M: 7.15%
• 1Y: 20.11%
• 3Y*: 12.77%
• 5Y*: 9.14%
• 10Y*: —

FFEB

• 1D: -0.30%
• 1M: 2.45%
• YTD: 7.65%
• 6M: 8.55%
• 1Y: 19.32%
• 3Y*: 16.35%
• 5Y*: 11.09%
• 10Y*: —

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

FOCT vs. FFEB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FOCT FT Vest U.S. Equity Buffer ETF - October	6.65%	14.92%	9.62%	17.81%	-7.59%	13.13%	6.38%
FFEB FT Vest U.S. Equity Buffer ETF - February	7.65%	13.76%	16.64%	19.95%	-7.51%	16.26%	5.62%

Correlation

The correlation between FOCT and FFEB is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 20, 2020	0.92

The correlation between FOCT and FFEB has been stable across timeframes, ranging from 0.91 to 0.96 - a consistent structural relationship.

FOCT vs. FFEB - Sectors Allocation Comparison

Sectors	FOCT	FFEB
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

FOCT vs. FFEB — Risk / Return Rank

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

FOCT

FOCT Risk / Return Rank: 79
FOCT Sharpe Ratio Rank: 77
FOCT Sortino Ratio Rank: 81
FOCT Omega Ratio Rank: 81
FOCT Calmar Ratio Rank: 70
FOCT Martin Ratio Rank: 84

FFEB

FFEB Risk / Return Rank: 82
FFEB Sharpe Ratio Rank: 83
FFEB Sortino Ratio Rank: 87
FFEB Omega Ratio Rank: 88
FFEB Calmar Ratio Rank: 68
FFEB Martin Ratio Rank: 86

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.

FOCT vs. FFEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Buffer ETF - October (FOCT) and FT Vest U.S. Equity Buffer ETF - February (FFEB). 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.

	FOCT	FFEB	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.73	-0.20
Sortino ratio: Return per unit of downside risk	3.64	3.94	-0.29
Omega ratio: Gain probability vs. loss probability	1.49	1.55	-0.05
Calmar ratio: Return relative to maximum drawdown	3.52	3.39	+0.13
Martin ratio: Return relative to average drawdown	17.32	18.01	-0.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOCT vs. FFEB - Sharpe Ratio Comparison

The current FOCT Sharpe Ratio is 2.53, which is comparable to the FFEB Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of FOCT and FFEB, 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

	FOCT	FFEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.73	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	1.03	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.87	+0.11

Drawdowns

FOCT vs. FFEB - Drawdown Comparison

The maximum FOCT drawdown since its inception was -14.07%, smaller than the maximum FFEB drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for FOCT and FFEB.

Drawdown Indicators

	FOCT	FFEB	Difference
Max Drawdown Largest peak-to-trough decline	-14.07%	-22.81%	+8.74%
Max Drawdown (1Y) Largest decline over 1 year	-5.74%	-5.73%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-13.06%	-11.89%	-1.17%
Max Drawdown (5Y) Largest decline over 5 years	-14.07%	-13.85%	-0.22%
Current Drawdown Current decline from peak	-0.23%	-0.30%	+0.07%
Average Drawdown Average peak-to-trough decline	-2.25%	-2.40%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	1.08%	+0.08%

Volatility

FOCT vs. FFEB - Volatility Comparison

FT Vest U.S. Equity Buffer ETF - October (FOCT) and FT Vest U.S. Equity Buffer ETF - February (FFEB) have volatilities of 1.22% and 1.24%, 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

	FOCT	FFEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.24%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	5.94%	5.56%	+0.38%
Volatility (1Y) Calculated over the trailing 1-year period	7.99%	7.12%	+0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.07%	10.81%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.89%	13.75%	-2.86%

FOCT vs. FFEB - Expense Ratio Comparison

Both FOCT and FFEB have an expense ratio of 0.85%.

Dividends

FOCT vs. FFEB - Dividend Comparison

Neither FOCT nor FFEB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FOCT and FFEB in my portfolio?

With a correlation of 0.96, FOCT and FFEB 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, FOCT or FFEB?

FFEB has higher volatility (1.24%) compared to FOCT (1.22%). In terms of maximum drawdown, FOCT dropped -14.07% vs FFEB's -22.81%.

Which ETF is better, FOCT or FFEB?

On 5-year performance, FFEB leads with 11.09% vs 9.14% for FOCT. Both ETFs have the same 0.85% expense ratio. 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, FOCT or FFEB?

Over the 5-year period, FFEB has performed better with a 11.09% return vs 9.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FOCT or FFEB?

FOCT and FFEB have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, FOCT or FFEB?

FOCT and FFEB have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

FFEB currently has the higher Sharpe Ratio (2.73 vs 2.53), 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.