GAUG vs. IVVB

Last updated Apr 1, 2026

Compare and contrast key facts about FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) and iShares Large Cap Deep Buffer ETF (IVVB).

GAUG and IVVB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GAUG is a passively managed fund by FT Vest that tracks the performance of the S&P 500. It was launched on Aug 17, 2023. IVVB is an actively managed fund by iShares. It was launched on Jun 28, 2023.

Performance

GAUG vs. IVVB - 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 iShares Large Cap Deep Buffer ETF (IVVB). The values are adjusted to include any dividend payments, if applicable.

GAUG vs. IVVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GAUG FT Cboe Vest U.S. Equity Moderate Buffer ETF - August	-1.41%	11.28%	11.78%	5.84%
IVVB iShares Large Cap Deep Buffer ETF	-3.11%	9.60%	18.66%	3.50%

Returns By Period

In the year-to-date period, GAUG achieves a -1.41% return, which is significantly higher than IVVB's -3.11% return.

GAUG

• 1D: 1.62%
• 1M: -2.13%
• YTD: -1.41%
• 6M: 0.25%
• 1Y: 11.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVB

• 1D: 1.06%
• 1M: -3.96%
• YTD: -3.11%
• 6M: -0.88%
• 1Y: 10.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GAUG vs. IVVB - Expense Ratio Comparison

GAUG has a 0.85% expense ratio, which is higher than IVVB's 0.50% expense ratio.

GAUG

FT Cboe Vest U.S. Equity Moderate Buffer ETF - August

IVVB

iShares Large Cap Deep Buffer ETF

Return for Risk

GAUG vs. IVVB — Risk / Return Rank

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

GAUG

GAUG Risk / Return Rank: 71
GAUG Sharpe Ratio Rank: 66
GAUG Sortino Ratio Rank: 70
GAUG Omega Ratio Rank: 75
GAUG Calmar Ratio Rank: 65
GAUG Martin Ratio Rank: 82

IVVB

IVVB Risk / Return Rank: 63
IVVB Sharpe Ratio Rank: 59
IVVB Sortino Ratio Rank: 60
IVVB Omega Ratio Rank: 62
IVVB Calmar Ratio Rank: 64
IVVB Martin Ratio Rank: 72

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. IVVB - 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 iShares Large Cap Deep Buffer ETF (IVVB). 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	IVVB	Difference
Sharpe ratio Return per unit of total volatility	1.15	1.00	+0.15
Sortino ratio Return per unit of downside risk	1.76	1.49	+0.27
Omega ratio Gain probability vs. loss probability	1.28	1.22	+0.06
Calmar ratio Return relative to maximum drawdown	1.64	1.57	+0.08
Martin ratio Return relative to average drawdown	9.23	7.14	+2.09
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. IVVB - Sharpe Ratio Comparison

The current GAUG Sharpe Ratio is 1.15, which is comparable to the IVVB Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of GAUG and IVVB, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GAUG	IVVB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	1.00	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	1.38	1.04	+0.34

Correlation

The correlation between GAUG and IVVB is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GAUG vs. IVVB - Dividend Comparison

GAUG has not paid dividends to shareholders, while IVVB's dividend yield for the trailing twelve months is around 1.26%.

	TTM	2025	2024
GAUG FT Cboe Vest U.S. Equity Moderate Buffer ETF - August	0.00%	0.00%	0.00%
IVVB iShares Large Cap Deep Buffer ETF	1.26%	1.22%	0.87%

Drawdowns

GAUG vs. IVVB - Drawdown Comparison

The maximum GAUG drawdown since its inception was -10.08%, smaller than the maximum IVVB drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for GAUG and IVVB.

Drawdown Indicators

	GAUG	IVVB	Difference
Max Drawdown Largest peak-to-trough decline	-10.08%	-13.08%	+3.00%
Max Drawdown (1Y) Largest decline over 1 year	-7.14%	-6.90%	-0.24%
Current Drawdown Current decline from peak	-2.45%	-4.75%	+2.30%
Average Drawdown Average peak-to-trough decline	-0.76%	-1.66%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	1.51%	-0.24%

Volatility

GAUG vs. IVVB - Volatility Comparison

FT Cboe Vest U.S. Equity Moderate Buffer ETF - August (GAUG) has a higher volatility of 2.99% compared to iShares Large Cap Deep Buffer ETF (IVVB) at 2.68%. This indicates that GAUG's price experiences larger fluctuations and is considered to be riskier than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAUG	IVVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	2.68%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	4.66%	6.26%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	9.92%	10.63%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.69%	9.47%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.69%	9.47%	-1.78%