TDEC vs. EBUF

Last updated Jun 24, 2026

TDEC (FT Vest Emerging Markets Buffer ETF - December) and EBUF (Innovator Emerging Markets 10 Buffer ETF - Quarterly) are both Defined Outcome funds. TDEC is passively managed, while EBUF is actively managed. Over the past year, TDEC returned 20.35% vs 15.73% for EBUF. Their correlation of 0.84 suggests significant overlap in exposure. TDEC charges 0.95%/yr vs 0.89%/yr for EBUF.

Performance

TDEC vs. EBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Emerging Markets Buffer ETF - December (TDEC) and Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDEC achieves a 7.66% return, which is significantly lower than EBUF's 10.32% return.

TDEC

• 1D: -2.13%
• 1M: -0.09%
• YTD: 7.66%
• 6M: 8.74%
• 1Y: 20.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EBUF

• 1D: -0.39%
• 1M: 1.18%
• YTD: 10.32%
• 6M: 11.01%
• 1Y: 15.73%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TDEC vs. EBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TDEC FT Vest Emerging Markets Buffer ETF - December	7.66%	21.39%	-0.75%
EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly	10.32%	11.55%	0.31%

Correlation

The correlation between TDEC and EBUF is 0.81, 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	0.81
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.84

The correlation between TDEC and EBUF has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

TDEC vs. EBUF — Risk / Return Rank

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

TDEC

TDEC Risk / Return Rank: 65
TDEC Sharpe Ratio Rank: 64
TDEC Sortino Ratio Rank: 62
TDEC Omega Ratio Rank: 79
TDEC Calmar Ratio Rank: 55
TDEC Martin Ratio Rank: 65

EBUF

EBUF Risk / Return Rank: 94
EBUF Sharpe Ratio Rank: 89
EBUF Sortino Ratio Rank: 94
EBUF Omega Ratio Rank: 95
EBUF Calmar Ratio Rank: 96
EBUF Martin Ratio Rank: 96

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.

TDEC vs. EBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - December (TDEC) and Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF). 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.

	TDEC	EBUF	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.75	-0.84
Sortino ratio: Return per unit of downside risk	2.63	4.53	-1.90
Omega ratio: Gain probability vs. loss probability	1.43	1.66	-0.23
Calmar ratio: Return relative to maximum drawdown	2.51	8.67	-6.17
Martin ratio: Return relative to average drawdown	10.81	34.23	-23.42

TDEC vs. EBUF - Sharpe Ratio Comparison

The current TDEC Sharpe Ratio is 1.91, which is lower than the EBUF Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of TDEC and EBUF, 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

TDEC vs. EBUF - Drawdown Comparison

The maximum TDEC drawdown since its inception was -10.30%, which is greater than EBUF's maximum drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for TDEC and EBUF.

Drawdown Indicators

	TDEC	EBUF	Difference
Max Drawdown Largest peak-to-trough decline	-10.30%	-6.49%	-3.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-1.82%	-6.34%
Current Drawdown Current decline from peak	-2.13%	-0.39%	-1.74%
Average Drawdown Average peak-to-trough decline	-1.05%	-0.49%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	0.46%	+1.43%

Volatility

TDEC vs. EBUF - Volatility Comparison

FT Vest Emerging Markets Buffer ETF - December (TDEC) has a higher volatility of 4.52% compared to Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) at 1.99%. This indicates that TDEC's price experiences larger fluctuations and is considered to be riskier than EBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDEC	EBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	1.99%	+2.53%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	4.85%	+5.13%
Volatility (1Y) Calculated over the trailing 1-year period	10.71%	5.74%	+4.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.03%	6.66%	+5.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.03%	6.66%	+5.37%

TDEC vs. EBUF - Expense Ratio Comparison

TDEC has a 0.95% expense ratio, which is higher than EBUF's 0.89% expense ratio.

Dividends

TDEC vs. EBUF - Dividend Comparison

Neither TDEC nor EBUF has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TDEC and EBUF in my portfolio?

TDEC and EBUF have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDEC or EBUF?

TDEC has higher volatility (4.52%) compared to EBUF (1.99%). In terms of maximum drawdown, TDEC dropped -10.30% vs EBUF's -6.49%.

Which ETF is better, TDEC or EBUF?

On 1-year performance, TDEC leads with 20.35% vs 15.73% for EBUF. On fees, EBUF is cheaper at 0.89% per year. On volatility, EBUF has been the lower-risk option at 1.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDEC or EBUF?

Over the 1-year period, TDEC has performed better with a 20.35% return vs 15.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDEC or EBUF?

EBUF is cheaper with a 0.89% expense ratio, compared with 0.95% for TDEC.

Which ETF pays a higher dividend yield, TDEC or EBUF?

TDEC and EBUF have nearly identical dividend yields, around 0.00%.

What is the main difference between TDEC and EBUF?

They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.95% for TDEC and 0.89% for EBUF.

Which has better risk-adjusted returns?

EBUF currently has the higher Sharpe Ratio (2.75 vs 1.91), 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.