IVVB vs. SAUG

Last updated Jun 24, 2026

IVVB (iShares Large Cap Deep Buffer ETF) and SAUG (FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August) are both Options Trading funds. Both are actively managed. Over the past year, IVVB returned 12.68% vs 19.55% for SAUG. A 0.72 correlation means they provide meaningful diversification when combined. IVVB charges 0.50%/yr vs 0.90%/yr for SAUG.

Performance

IVVB vs. SAUG - Performance Comparison

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

Returns By Period

In the year-to-date period, IVVB achieves a 3.81% return, which is significantly lower than SAUG's 8.49% return.

IVVB

• 1D: -0.46%
• 1M: -0.43%
• YTD: 3.81%
• 6M: 2.94%
• 1Y: 12.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SAUG

• 1D: -0.15%
• 1M: 1.22%
• YTD: 8.49%
• 6M: 7.47%
• 1Y: 19.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IVVB vs. SAUG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IVVB iShares Large Cap Deep Buffer ETF	3.81%	9.60%	18.66%	3.91%
SAUG FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August	8.49%	8.23%	11.08%	6.37%

Correlation

The correlation between IVVB and SAUG is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 21, 2023	0.72

The correlation between IVVB and SAUG has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.

Return for Risk

IVVB vs. SAUG — Risk / Return Rank

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

IVVB

IVVB Risk / Return Rank: 53
IVVB Sharpe Ratio Rank: 54
IVVB Sortino Ratio Rank: 52
IVVB Omega Ratio Rank: 54
IVVB Calmar Ratio Rank: 47
IVVB Martin Ratio Rank: 56

SAUG

SAUG Risk / Return Rank: 79
SAUG Sharpe Ratio Rank: 70
SAUG Sortino Ratio Rank: 78
SAUG Omega Ratio Rank: 74
SAUG Calmar Ratio Rank: 88
SAUG Martin Ratio Rank: 84

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.

IVVB vs. SAUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Deep Buffer ETF (IVVB) and FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IVVB	SAUG	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.07	-0.35
Sortino ratio: Return per unit of downside risk	2.41	3.16	-0.74
Omega ratio: Gain probability vs. loss probability	1.32	1.40	-0.08
Calmar ratio: Return relative to maximum drawdown	2.22	4.79	-2.58
Martin ratio: Return relative to average drawdown	9.43	15.75	-6.32

IVVB vs. SAUG - Sharpe Ratio Comparison

The current IVVB Sharpe Ratio is 1.72, which is comparable to the SAUG Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of IVVB and SAUG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IVVB vs. SAUG - Drawdown Comparison

The maximum IVVB drawdown since its inception was -13.08%, smaller than the maximum SAUG drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for IVVB and SAUG.

Drawdown Indicators

	IVVB	SAUG	Difference
Max Drawdown Largest peak-to-trough decline	-13.08%	-14.62%	+1.54%
Max Drawdown (1Y) Largest decline over 1 year	-5.75%	-4.10%	-1.65%
Current Drawdown Current decline from peak	-0.88%	-0.15%	-0.73%
Average Drawdown Average peak-to-trough decline	-1.59%	-2.21%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	1.24%	+0.11%

Volatility

IVVB vs. SAUG - Volatility Comparison

iShares Large Cap Deep Buffer ETF (IVVB) has a higher volatility of 1.74% compared to FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) at 1.35%. This indicates that IVVB's price experiences larger fluctuations and is considered to be riskier than SAUG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVVB	SAUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.74%	1.35%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	5.49%	5.39%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	7.40%	9.48%	-2.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.25%	11.72%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.25%	11.72%	-2.47%

IVVB vs. SAUG - Expense Ratio Comparison

IVVB has a 0.50% expense ratio, which is lower than SAUG's 0.90% expense ratio.

Dividends

IVVB vs. SAUG - Dividend Comparison

IVVB's dividend yield for the trailing twelve months is around 1.18%, while SAUG has not paid dividends to shareholders.

Position	TTM	2025	2024
IVVB iShares Large Cap Deep Buffer ETF	1.18%	1.22%	0.87%
SAUG FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IVVB and SAUG in my portfolio?

IVVB and SAUG have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVVB or SAUG?

IVVB has higher volatility (1.74%) compared to SAUG (1.35%). In terms of maximum drawdown, IVVB dropped -13.08% vs SAUG's -14.62%.

Which ETF is better, IVVB or SAUG?

On 1-year performance, SAUG leads with 19.55% vs 12.68% for IVVB. On fees, IVVB is cheaper at 0.50% per year. On volatility, SAUG has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVVB or SAUG?

Over the 1-year period, SAUG has performed better with a 19.55% return vs 12.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVVB or SAUG?

IVVB is cheaper with a 0.50% expense ratio, compared with 0.90% for SAUG.

Which ETF pays a higher dividend yield, IVVB or SAUG?

IVVB has the higher dividend yield at 1.18%, compared with 0.00% for SAUG.

What is the main difference between IVVB and SAUG?

They also come from different issuers: iShares and FT Vest. Their fees differ too: 0.50% for IVVB and 0.90% for SAUG.

Which has better risk-adjusted returns?

SAUG currently has the higher Sharpe Ratio (2.07 vs 1.72), 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.