IBUF vs. BUFF

Last updated Apr 7, 2026

Compare and contrast key facts about Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) and Innovator Laddered Allocation Power Buffer ETF (BUFF).

IBUF and BUFF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IBUF is an actively managed fund by Innovator. It was launched on Jun 28, 2024. BUFF is a passively managed fund by Innovator that tracks the performance of the Refinitiv Laddered Power Buffer Strategy Index. It was launched on Oct 20, 2016.

Performance

IBUF vs. BUFF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) and Innovator Laddered Allocation Power Buffer ETF (BUFF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBUF achieves a 1.93% return, which is significantly higher than BUFF's -0.14% return.

IBUF

• 1D: 0.53%
• 1M: 1.16%
• YTD: 1.93%
• 6M: 3.89%
• 1Y: 17.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUFF

• 1D: 0.24%
• 1M: -0.16%
• YTD: -0.14%
• 6M: 1.80%
• 1Y: 19.46%
• 3Y*: 11.54%
• 5Y*: 7.74%
• 10Y*: —

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

IBUF vs. BUFF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IBUF Innovator International Developed 10 Buffer ETF - Quarterly	1.93%	13.54%	2.77%
BUFF Innovator Laddered Allocation Power Buffer ETF	-0.14%	11.02%	4.56%

Correlation

The correlation between IBUF and BUFF is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined. Holding both can reduce overall portfolio volatility compared to holding either one alone.

IBUF vs. BUFF - Expense Ratio Comparison

IBUF has a 0.85% expense ratio, which is lower than BUFF's 0.89% expense ratio.

BUFF

Innovator Laddered Allocation Power Buffer ETF

IBUF

Innovator International Developed 10 Buffer ETF - Quarterly

Return for Risk

IBUF vs. BUFF — Risk / Return Rank

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

IBUF

IBUF Risk / Return Rank: 89
IBUF Sharpe Ratio Rank: 90
IBUF Sortino Ratio Rank: 97
IBUF Omega Ratio Rank: 96
IBUF Calmar Ratio Rank: 67
IBUF Martin Ratio Rank: 92

BUFF

BUFF Risk / Return Rank: 90
BUFF Sharpe Ratio Rank: 89
BUFF Sortino Ratio Rank: 96
BUFF Omega Ratio Rank: 96
BUFF Calmar Ratio Rank: 76
BUFF Martin Ratio Rank: 90

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.

IBUF vs. BUFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) and Innovator Laddered Allocation Power Buffer ETF (BUFF). 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.

	IBUF	BUFF	Difference
Sharpe ratio Return per unit of total volatility	2.67	2.27	+0.40
Sortino ratio Return per unit of downside risk	5.00	3.98	+1.03
Omega ratio Gain probability vs. loss probability	1.71	1.59	+0.12
Calmar ratio Return relative to maximum drawdown	2.43	2.70	-0.27
Martin ratio Return relative to average drawdown	16.22	13.88	+2.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBUF vs. BUFF - Sharpe Ratio Comparison

The current IBUF Sharpe Ratio is 2.67, which is comparable to the BUFF Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of IBUF and BUFF, 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

	IBUF	BUFF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.67	2.27	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.66	0.46	+1.20

Drawdowns

IBUF vs. BUFF - Drawdown Comparison

The maximum IBUF drawdown since its inception was -5.92%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for IBUF and BUFF.

Drawdown Indicators

	IBUF	BUFF	Difference
Max Drawdown Largest peak-to-trough decline	-5.92%	-46.23%	+40.31%
Max Drawdown (1Y) Largest decline over 1 year	-2.17%	-3.58%	+1.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-10.24%	—
Current Drawdown Current decline from peak	0.00%	-1.43%	+1.43%
Average Drawdown Average peak-to-trough decline	-0.47%	-6.29%	+5.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.75%	0.86%	-0.11%

Volatility

IBUF vs. BUFF - Volatility Comparison

The current volatility for Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) is 2.24%, while Innovator Laddered Allocation Power Buffer ETF (BUFF) has a volatility of 2.60%. This indicates that IBUF experiences smaller price fluctuations and is considered to be less risky than BUFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBUF	BUFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	2.60%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	3.60%	4.07%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	6.55%	8.67%	-2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	8.40%	-2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.29%	17.82%	-11.53%

Dividends

IBUF vs. BUFF - Dividend Comparison

Neither IBUF nor BUFF has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IBUF Innovator International Developed 10 Buffer ETF - Quarterly	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BUFF Innovator Laddered Allocation Power Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.78%	1.26%	1.74%	1.55%	0.18%