PIEQ vs. BUFI

Last updated Jun 23, 2026

PIEQ (Principal International Equity ETF) and BUFI (AB International Buffer ETF) are both exchange-traded funds - PIEQ is a Foreign Large Cap Equities fund actively managed by Principal, while BUFI is a Defined Outcome fund actively managed by AllianceBernstein. Both are actively managed. Over the past year, PIEQ returned 29.79% vs 14.67% for BUFI. Their correlation of 0.81 suggests significant overlap in exposure. PIEQ charges 0.48%/yr vs 0.69%/yr for BUFI.

Performance

PIEQ vs. BUFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal International Equity ETF (PIEQ) and AB International Buffer ETF (BUFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PIEQ achieves a 9.31% return, which is significantly higher than BUFI's 6.10% return.

PIEQ

• 1D: -0.93%
• 1M: 2.59%
• YTD: 9.31%
• 6M: 10.51%
• 1Y: 29.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUFI

• 1D: 0.16%
• 1M: 1.31%
• YTD: 6.10%
• 6M: 6.39%
• 1Y: 14.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PIEQ vs. BUFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PIEQ Principal International Equity ETF	9.31%	38.10%	-4.52%
BUFI AB International Buffer ETF	6.10%	16.50%	-1.18%

Correlation

The correlation between PIEQ and BUFI is 0.80, 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	0.80
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024	0.81

The correlation between PIEQ and BUFI has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.

Return for Risk

PIEQ vs. BUFI — Risk / Return Rank

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

PIEQ

PIEQ Risk / Return Rank: 59
PIEQ Sharpe Ratio Rank: 54
PIEQ Sortino Ratio Rank: 53
PIEQ Omega Ratio Rank: 55
PIEQ Calmar Ratio Rank: 65
PIEQ Martin Ratio Rank: 68

BUFI

BUFI Risk / Return Rank: 55
BUFI Sharpe Ratio Rank: 52
BUFI Sortino Ratio Rank: 54
BUFI Omega Ratio Rank: 56
BUFI Calmar Ratio Rank: 54
BUFI Martin Ratio Rank: 60

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.

PIEQ vs. BUFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal International Equity ETF (PIEQ) and AB International Buffer ETF (BUFI). 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.

	PIEQ	BUFI	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.72	+0.07
Sortino ratio: Return per unit of downside risk	2.51	2.53	-0.02
Omega ratio: Gain probability vs. loss probability	1.33	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	3.14	2.59	+0.55
Martin ratio: Return relative to average drawdown	12.26	10.30	+1.96

PIEQ vs. BUFI - Sharpe Ratio Comparison

The current PIEQ Sharpe Ratio is 1.79, which is comparable to the BUFI Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PIEQ and BUFI, 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

PIEQ vs. BUFI - Drawdown Comparison

The maximum PIEQ drawdown since its inception was -15.17%, which is greater than BUFI's maximum drawdown of -7.43%. Use the drawdown chart below to compare losses from any high point for PIEQ and BUFI.

Drawdown Indicators

	PIEQ	BUFI	Difference
Max Drawdown Largest peak-to-trough decline	-15.17%	-7.43%	-7.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.53%	-5.69%	-3.84%
Current Drawdown Current decline from peak	-1.56%	0.00%	-1.56%
Average Drawdown Average peak-to-trough decline	-1.94%	-0.84%	-1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	1.43%	+1.01%

Volatility

PIEQ vs. BUFI - Volatility Comparison

Principal International Equity ETF (PIEQ) has a higher volatility of 6.66% compared to AB International Buffer ETF (BUFI) at 2.16%. This indicates that PIEQ's price experiences larger fluctuations and is considered to be riskier than BUFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PIEQ	BUFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.66%	2.16%	+4.50%
Volatility (6M) Calculated over the trailing 6-month period	14.64%	7.27%	+7.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.74%	8.58%	+8.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	9.14%	+8.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	9.14%	+8.55%

PIEQ vs. BUFI - Expense Ratio Comparison

PIEQ has a 0.48% expense ratio, which is lower than BUFI's 0.69% expense ratio.

Dividends

PIEQ vs. BUFI - Dividend Comparison

PIEQ's dividend yield for the trailing twelve months is around 1.17%, while BUFI has not paid dividends to shareholders.

Position	TTM	2025	2024
BUFI AB International Buffer ETF	0.00%	0.00%	0.00%
PIEQ Principal International Equity ETF	1.17%	1.28%	0.10%

Frequently Asked Questions

Can I hold both PIEQ and BUFI in my portfolio?

PIEQ and BUFI have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PIEQ or BUFI?

PIEQ has higher volatility (6.66%) compared to BUFI (2.16%). In terms of maximum drawdown, PIEQ dropped -15.17% vs BUFI's -7.43%.

Which ETF is better, PIEQ or BUFI?

On 1-year performance, PIEQ leads with 29.79% vs 14.67% for BUFI. On fees, PIEQ is cheaper at 0.48% per year. On volatility, BUFI has been the lower-risk option at 2.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PIEQ or BUFI?

Over the 1-year period, PIEQ has performed better with a 29.79% return vs 14.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PIEQ or BUFI?

PIEQ is cheaper with a 0.48% expense ratio, compared with 0.69% for BUFI.

Which ETF pays a higher dividend yield, PIEQ or BUFI?

PIEQ has the higher dividend yield at 1.17%, compared with 0.00% for BUFI.

What is the main difference between PIEQ and BUFI?

PIEQ is categorized as Foreign Large Cap Equities, while BUFI is Defined Outcome. They also come from different issuers: Principal and AllianceBernstein. Their fees differ too: 0.48% for PIEQ and 0.69% for BUFI.

Which has better risk-adjusted returns?

PIEQ currently has the higher Sharpe Ratio (1.79 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.