SDRIX vs. BUIGX

Last updated Jun 24, 2026

SDRIX (Swan Defined Risk Fund) and BUIGX (Cboe Vest US Large Cap 10% Buffer Fund) are both Options Trading funds. Over the past 5 years, SDRIX returned 5.47%/yr vs 9.18%/yr for BUIGX. Their correlation of 0.86 suggests significant overlap in exposure. SDRIX charges 1.18%/yr vs 0.95%/yr for BUIGX.

Performance

SDRIX vs. BUIGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Swan Defined Risk Fund (SDRIX) and Cboe Vest US Large Cap 10% Buffer Fund (BUIGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SDRIX achieves a 5.55% return, which is significantly lower than BUIGX's 6.26% return.

SDRIX

• 1D: -0.13%
• 1M: 0.65%
• YTD: 5.55%
• 6M: 5.03%
• 1Y: 15.07%
• 3Y*: 8.87%
• 5Y*: 5.47%
• 10Y*: 5.78%

BUIGX

• 1D: -0.17%
• 1M: 0.55%
• YTD: 6.26%
• 6M: 5.78%
• 1Y: 16.80%
• 3Y*: 13.88%
• 5Y*: 9.18%
• 10Y*: —

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

SDRIX vs. BUIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SDRIX Swan Defined Risk Fund	5.55%	10.72%	4.91%	12.37%	-12.84%	17.41%	5.25%	12.75%	-8.85%	10.25%
BUIGX Cboe Vest US Large Cap 10% Buffer Fund	6.26%	11.51%	15.54%	19.05%	-9.88%	12.51%	10.57%	17.71%	-2.19%	11.41%

Correlation

The correlation between SDRIX and BUIGX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.86

The correlation between SDRIX and BUIGX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Return for Risk

SDRIX vs. BUIGX — Risk / Return Rank

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

SDRIX

SDRIX Risk / Return Rank: 59
SDRIX Sharpe Ratio Rank: 54
SDRIX Sortino Ratio Rank: 50
SDRIX Omega Ratio Rank: 53
SDRIX Calmar Ratio Rank: 66
SDRIX Martin Ratio Rank: 72

BUIGX

BUIGX Risk / Return Rank: 70
BUIGX Sharpe Ratio Rank: 50
BUIGX Sortino Ratio Rank: 51
BUIGX Omega Ratio Rank: 76
BUIGX Calmar Ratio Rank: 81
BUIGX Martin Ratio Rank: 92

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.

SDRIX vs. BUIGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Swan Defined Risk Fund (SDRIX) and Cboe Vest US Large Cap 10% Buffer Fund (BUIGX). 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.

	SDRIX	BUIGX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.93	+0.08
Sortino ratio: Return per unit of downside risk	2.74	2.75	-0.01
Omega ratio: Gain probability vs. loss probability	1.37	1.45	-0.08
Calmar ratio: Return relative to maximum drawdown	2.98	3.48	-0.50
Martin ratio: Return relative to average drawdown	12.86	17.53	-4.66

SDRIX vs. BUIGX - Sharpe Ratio Comparison

The current SDRIX Sharpe Ratio is 2.00, which is comparable to the BUIGX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of SDRIX and BUIGX, 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

SDRIX vs. BUIGX - Drawdown Comparison

The maximum SDRIX drawdown since its inception was -20.69%, smaller than the maximum BUIGX drawdown of -22.01%. Use the drawdown chart below to compare losses from any high point for SDRIX and BUIGX.

Drawdown Indicators

	SDRIX	BUIGX	Difference
Max Drawdown Largest peak-to-trough decline	-20.69%	-22.01%	+1.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.29%	-5.12%	-0.17%
Max Drawdown (3Y) Largest decline over 3 years	-14.16%	-13.94%	-0.22%
Max Drawdown (5Y) Largest decline over 5 years	-17.67%	-15.22%	-2.45%
Max Drawdown (10Y) Largest decline over 10 years	-20.69%	—	—
Current Drawdown Current decline from peak	-1.14%	-0.42%	-0.72%
Average Drawdown Average peak-to-trough decline	-3.54%	-2.31%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	1.01%	+0.21%

Volatility

SDRIX vs. BUIGX - Volatility Comparison

Swan Defined Risk Fund (SDRIX) has a higher volatility of 3.36% compared to Cboe Vest US Large Cap 10% Buffer Fund (BUIGX) at 2.21%. This indicates that SDRIX's price experiences larger fluctuations and is considered to be riskier than BUIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SDRIX	BUIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	2.21%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	6.20%	5.59%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	7.87%	9.25%	-1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.65%	11.56%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.75%	11.68%	-1.93%

SDRIX vs. BUIGX - Expense Ratio Comparison

SDRIX has a 1.18% expense ratio, which is higher than BUIGX's 0.95% expense ratio.

Dividends

SDRIX vs. BUIGX - Dividend Comparison

SDRIX's dividend yield for the trailing twelve months is around 9.99%, while BUIGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUIGX Cboe Vest US Large Cap 10% Buffer Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.68%	0.00%	0.00%	0.00%	0.00%
SDRIX Swan Defined Risk Fund	9.99%	10.55%	0.00%	12.37%	0.00%	0.00%	0.34%	1.21%	1.00%	0.76%	1.42%	0.78%

Frequently Asked Questions

Can I hold both SDRIX and BUIGX in my portfolio?

SDRIX and BUIGX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SDRIX or BUIGX?

SDRIX has higher volatility (3.36%) compared to BUIGX (2.21%). In terms of maximum drawdown, SDRIX dropped -20.69% vs BUIGX's -22.01%.

Which has better risk-adjusted returns?

SDRIX currently has the higher Sharpe Ratio (2.00 vs 1.93), 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.