TEND vs. TMAR

Last updated Jun 4, 2026

TEND (iShares Large Cap 10% Target Buffer Dec ETF) and TMAR (FT Vest Emerging Markets Buffer ETF - March) are both Defined Outcome funds. TEND is actively managed, while TMAR is passively managed. A 0.71 correlation means they provide meaningful diversification when combined. TEND charges 0.50%/yr vs 0.95%/yr for TMAR.

Performance

TEND vs. TMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Dec ETF (TEND) and FT Vest Emerging Markets Buffer ETF - March (TMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEND achieves a 6.91% return, which is significantly lower than TMAR's 14.45% return.

TEND

• 1D: -0.28%
• 1M: 2.91%
• YTD: 6.91%
• 6M: 7.29%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMAR

• 1D: -0.72%
• 1M: 2.73%
• YTD: 14.45%
• 6M: 15.92%
• 1Y: 28.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEND vs. TMAR - Yearly Performance Comparison

	2026 (YTD)	2025
TEND iShares Large Cap 10% Target Buffer Dec ETF	6.91%	1.72%
TMAR FT Vest Emerging Markets Buffer ETF - March	14.45%	2.19%

Correlation

The correlation between TEND and TMAR is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.71

Return for Risk

TEND vs. TMAR — Risk / Return Rank

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

TMAR

TMAR Risk / Return Rank: 94
TMAR Sharpe Ratio Rank: 90
TMAR Sortino Ratio Rank: 93
TMAR Omega Ratio Rank: 96
TMAR Calmar Ratio Rank: 95
TMAR 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.

TEND vs. TMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Dec ETF (TEND) and FT Vest Emerging Markets Buffer ETF - March (TMAR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TEND	TMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.72	2.25	-0.53

Drawdowns

TEND vs. TMAR - Drawdown Comparison

The maximum TEND drawdown since its inception was -5.92%, smaller than the maximum TMAR drawdown of -9.93%. Use the drawdown chart below to compare losses from any high point for TEND and TMAR.

Drawdown Indicators

	TEND	TMAR	Difference
Max Drawdown Largest peak-to-trough decline	-5.92%	-9.93%	+4.01%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.64%	—
Current Drawdown Current decline from peak	-0.28%	-0.72%	+0.44%
Average Drawdown Average peak-to-trough decline	-0.76%	-0.66%	-0.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.75%	—

Volatility

Volatility by Period

	TEND	TMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.53%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.17%	—
Volatility (1Y) Calculated over the trailing 1-year period	8.08%	9.47%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.08%	11.42%	-3.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.08%	11.42%	-3.34%

TEND vs. TMAR - Expense Ratio Comparison

TEND has a 0.50% expense ratio, which is lower than TMAR's 0.95% expense ratio.

Dividends

TEND vs. TMAR - Dividend Comparison

TEND's dividend yield for the trailing twelve months is around 0.13%, while TMAR has not paid dividends to shareholders.

Position	TTM	2025
TEND iShares Large Cap 10% Target Buffer Dec ETF	0.13%	0.14%
TMAR FT Vest Emerging Markets Buffer ETF - March	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEND and TMAR in my portfolio?

TEND and TMAR have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEND or TMAR?

On fees, TEND is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEND or TMAR?

TEND is cheaper with a 0.50% expense ratio, compared with 0.95% for TMAR.

Which ETF pays a higher dividend yield, TEND or TMAR?

TEND has the higher dividend yield at 0.13%, compared with 0.00% for TMAR.

What is the main difference between TEND and TMAR?

They also come from different issuers: BlackRock and First Trust. Their fees differ too: 0.50% for TEND and 0.95% for TMAR.