FTKI vs. BUYW

Last updated Jun 4, 2026

FTKI (First Trust Small Cap BuyWrite Income ETF) and BUYW (Main Buywrite ETF) are both Derivative Income funds. Both are actively managed. Over the past year, FTKI returned 18.90% vs 9.76% for BUYW. A 0.54 correlation means they provide meaningful diversification when combined. FTKI charges 0.85%/yr vs 1.29%/yr for BUYW.

Performance

FTKI vs. BUYW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap BuyWrite Income ETF (FTKI) and Main Buywrite ETF (BUYW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTKI achieves a 9.41% return, which is significantly higher than BUYW's 3.39% return.

FTKI

• 1D: -0.19%
• 1M: 0.46%
• YTD: 9.41%
• 6M: 9.82%
• 1Y: 18.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUYW

• 1D: 0.35%
• 1M: 0.99%
• YTD: 3.39%
• 6M: 4.27%
• 1Y: 9.76%
• 3Y*: 8.73%
• 5Y*: —
• 10Y*: —

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

FTKI vs. BUYW - Yearly Performance Comparison

	2026 (YTD)	2025
FTKI First Trust Small Cap BuyWrite Income ETF	9.41%	4.33%
BUYW Main Buywrite ETF	3.39%	8.30%

Correlation

The correlation between FTKI and BUYW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Feb 28, 2025	0.54

The correlation between FTKI and BUYW shifts across timeframes, from 0.41 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.

FTKI vs. BUYW - Sectors Allocation Comparison

Sectors	FTKI	BUYW
Financial Services	21.8%	15.3%
Technology	14.9%	24.0%
Industrials	12.8%	4.4%
Consumer Cyclical	11.2%	6.4%
Energy	9.6%	13.6%
Healthcare	9.0%	13.0%
Real Estate	7.4%	1.0%
Basic Materials	4.3%	1.0%
Communication Services	3.2%	16.9%
Consumer Defensive	2.1%	3.2%
Utilities	2.1%	1.3%

Return for Risk

FTKI vs. BUYW — Risk / Return Rank

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

FTKI

FTKI Risk / Return Rank: 63
FTKI Sharpe Ratio Rank: 59
FTKI Sortino Ratio Rank: 61
FTKI Omega Ratio Rank: 61
FTKI Calmar Ratio Rank: 70
FTKI Martin Ratio Rank: 64

BUYW

BUYW Risk / Return Rank: 71
BUYW Sharpe Ratio Rank: 59
BUYW Sortino Ratio Rank: 66
BUYW Omega Ratio Rank: 66
BUYW Calmar Ratio Rank: 75
BUYW Martin Ratio Rank: 89

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.

FTKI vs. BUYW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap BuyWrite Income ETF (FTKI) and Main Buywrite ETF (BUYW). 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.

	FTKI	BUYW	Difference
Sharpe ratio: Return per unit of total volatility	1.96	2.03	-0.07
Sortino ratio: Return per unit of downside risk	2.81	3.08	-0.27
Omega ratio: Gain probability vs. loss probability	1.37	1.40	-0.04
Calmar ratio: Return relative to maximum drawdown	3.41	3.79	-0.37
Martin ratio: Return relative to average drawdown	11.54	20.24	-8.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FTKI vs. BUYW - Sharpe Ratio Comparison

The current FTKI Sharpe Ratio is 1.96, which is comparable to the BUYW Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FTKI and BUYW, 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

	FTKI	BUYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	2.03	-0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.17	-0.44

Drawdowns

FTKI vs. BUYW - Drawdown Comparison

The maximum FTKI drawdown since its inception was -15.17%, which is greater than BUYW's maximum drawdown of -9.36%. Use the drawdown chart below to compare losses from any high point for FTKI and BUYW.

Drawdown Indicators

	FTKI	BUYW	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-9.36%	-5.81%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-2.59%	-2.97%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.36%	—
Current Drawdown Current decline from peak	-0.97%	-0.21%	-0.76%
Average Drawdown Average peak-to-trough decline	-2.59%	-0.61%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	0.48%	+1.16%

Volatility

FTKI vs. BUYW - Volatility Comparison

First Trust Small Cap BuyWrite Income ETF (FTKI) has a higher volatility of 2.54% compared to Main Buywrite ETF (BUYW) at 1.02%. This indicates that FTKI's price experiences larger fluctuations and is considered to be riskier than BUYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTKI	BUYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.54%	1.02%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	7.44%	4.03%	+3.41%
Volatility (1Y) Calculated over the trailing 1-year period	9.69%	4.85%	+4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	8.47%	+6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.31%	8.47%	+6.84%

FTKI vs. BUYW - Expense Ratio Comparison

FTKI has a 0.85% expense ratio, which is lower than BUYW's 1.29% expense ratio.

Dividends

FTKI vs. BUYW - Dividend Comparison

FTKI's dividend yield for the trailing twelve months is around 11.51%, more than BUYW's 5.91% yield.

Position	TTM	2025	2024	2023	2022
BUYW Main Buywrite ETF	5.91%	5.89%	5.93%	5.95%	0.50%
FTKI First Trust Small Cap BuyWrite Income ETF	11.51%	8.99%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTKI and BUYW in my portfolio?

FTKI and BUYW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTKI or BUYW?

FTKI has higher volatility (2.54%) compared to BUYW (1.02%). In terms of maximum drawdown, FTKI dropped -15.17% vs BUYW's -9.36%.

Which ETF is better, FTKI or BUYW?

On 1-year performance, FTKI leads with 18.90% vs 9.76% for BUYW. On fees, FTKI is cheaper at 0.85% per year. On volatility, BUYW has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTKI or BUYW?

Over the 1-year period, FTKI has performed better with a 18.90% return vs 9.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTKI or BUYW?

FTKI is cheaper with a 0.85% expense ratio, compared with 1.29% for BUYW.

Which ETF pays a higher dividend yield, FTKI or BUYW?

FTKI has the higher dividend yield at 11.51%, compared with 5.91% for BUYW.

What is the main difference between FTKI and BUYW?

They also come from different issuers: First Trust and Main Funds. Their fees differ too: 0.85% for FTKI and 1.29% for BUYW.

Which has better risk-adjusted returns?

BUYW currently has the higher Sharpe Ratio (2.03 vs 1.96), 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.