GAUG vs. DDEC

Last updated Jun 4, 2026

GAUG (FT Cboe Vest U.S. Equity Moderate Buffer ETF - August) and DDEC (FT Vest U.S. Equity Deep Buffer ETF - December) are both exchange-traded funds - GAUG is a Options Trading fund tracking the S&P 500, while DDEC is a Defined Outcome fund tracking the S&P 500. Both are passively managed. Over the past year, GAUG returned 14.06% vs 16.08% for DDEC. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

GAUG vs. DDEC - Performance Comparison

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

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with GAUG at 4.97% and DDEC at 4.97%.

GAUG

• 1D: -0.18%
• 1M: 1.59%
• YTD: 4.97%
• 6M: 5.40%
• 1Y: 14.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DDEC

• 1D: -0.19%
• 1M: 1.98%
• YTD: 4.97%
• 6M: 5.94%
• 1Y: 16.08%
• 3Y*: 12.69%
• 5Y*: 8.31%
• 10Y*: —

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

GAUG vs. DDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GAUG FT Cboe Vest U.S. Equity Moderate Buffer ETF - August	4.97%	11.28%	11.78%	5.84%
DDEC FT Vest U.S. Equity Deep Buffer ETF - December	4.97%	12.33%	12.26%	5.98%

Correlation

The correlation between GAUG and DDEC is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023	0.88

The correlation between GAUG and DDEC has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

GAUG vs. DDEC - Sectors Allocation Comparison

Sectors	GAUG	DDEC
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

GAUG vs. DDEC — Risk / Return Rank

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

GAUG

GAUG Risk / Return Rank: 80
GAUG Sharpe Ratio Rank: 77
GAUG Sortino Ratio Rank: 83
GAUG Omega Ratio Rank: 83
GAUG Calmar Ratio Rank: 71
GAUG Martin Ratio Rank: 86

DDEC

DDEC Risk / Return Rank: 86
DDEC Sharpe Ratio Rank: 85
DDEC Sortino Ratio Rank: 89
DDEC Omega Ratio Rank: 89
DDEC Calmar Ratio Rank: 77
DDEC Martin Ratio Rank: 88

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.

GAUG vs. DDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) and FT Vest U.S. Equity Deep Buffer ETF - December (DDEC). 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.

	GAUG	DDEC	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.79	-0.31
Sortino ratio: Return per unit of downside risk	3.71	4.12	-0.42
Omega ratio: Gain probability vs. loss probability	1.50	1.57	-0.07
Calmar ratio: Return relative to maximum drawdown	3.52	3.87	-0.34
Martin ratio: Return relative to average drawdown	18.35	19.48	-1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAUG vs. DDEC - Sharpe Ratio Comparison

The current GAUG Sharpe Ratio is 2.48, which is comparable to the DDEC Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of GAUG and DDEC, 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

	GAUG	DDEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.79	-0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.65	1.25	+0.40

Drawdowns

GAUG vs. DDEC - Drawdown Comparison

The maximum GAUG drawdown since its inception was -10.08%, roughly equal to the maximum DDEC drawdown of -10.22%. Use the drawdown chart below to compare losses from any high point for GAUG and DDEC.

Drawdown Indicators

	GAUG	DDEC	Difference
Max Drawdown Largest peak-to-trough decline	-10.08%	-10.22%	+0.14%
Max Drawdown (1Y) Largest decline over 1 year	-4.01%	-4.18%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	—	-9.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-10.22%	—
Current Drawdown Current decline from peak	-0.18%	-0.19%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.73%	-1.87%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.83%	-0.06%

Volatility

GAUG vs. DDEC - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) is 0.75%, while FT Vest U.S. Equity Deep Buffer ETF - December (DDEC) has a volatility of 0.88%. This indicates that GAUG experiences smaller price fluctuations and is considered to be less risky than DDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAUG	DDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.75%	0.88%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	4.33%	4.36%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	5.70%	5.79%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.53%	7.02%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.53%	6.87%	+0.66%

GAUG vs. DDEC - Expense Ratio Comparison

Both GAUG and DDEC have an expense ratio of 0.85%.

Dividends

GAUG vs. DDEC - Dividend Comparison

Neither GAUG nor DDEC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GAUG and DDEC in my portfolio?

GAUG and DDEC have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAUG or DDEC?

DDEC has higher volatility (0.88%) compared to GAUG (0.75%). In terms of maximum drawdown, GAUG dropped -10.08% vs DDEC's -10.22%.

Which ETF is better, GAUG or DDEC?

On 1-year performance, DDEC leads with 16.08% vs 14.06% for GAUG. Both ETFs have the same 0.85% expense ratio. On volatility, GAUG has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GAUG or DDEC?

Over the 1-year period, DDEC has performed better with a 16.08% return vs 14.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GAUG or DDEC?

GAUG and DDEC have the same expense ratio: 0.85% per year.

Which ETF pays a higher dividend yield, GAUG or DDEC?

GAUG and DDEC have nearly identical dividend yields, around 0.00%.

What is the main difference between GAUG and DDEC?

GAUG is categorized as Options Trading, while DDEC is Defined Outcome. Both ETFs track S&P 500.

Which has better risk-adjusted returns?

DDEC currently has the higher Sharpe Ratio (2.79 vs 2.48), 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.