TMAR vs. AIRR
TMAR (FT Vest Emerging Markets Buffer ETF - March) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - TMAR is a Defined Outcome fund tracking the iShares MSCI Emerging Markets ETF (EEM) Price Return, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance (TR). Both are passively managed. Over the past year, TMAR returned 28.83% vs 65.82% for AIRR. At a 0.49 correlation, their price movements are largely independent. TMAR charges 0.95%/yr vs 0.70%/yr for AIRR.
Performance
TMAR vs. AIRR - Performance Comparison
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Returns By Period
In the year-to-date period, TMAR achieves a 14.45% return, which is significantly lower than AIRR's 31.77% return.
TMAR
- 1D
- -0.72%
- 1M
- 2.73%
- YTD
- 14.45%
- 6M
- 15.92%
- 1Y
- 28.83%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
AIRR
- 1D
- 0.54%
- 1M
- 3.36%
- YTD
- 31.77%
- 6M
- 31.32%
- 1Y
- 65.82%
- 3Y*
- 37.10%
- 5Y*
- 25.40%
- 10Y*
- 21.89%
TMAR vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TMAR FT Vest Emerging Markets Buffer ETF - March | 14.45% | 14.71% |
AIRR First Trust RBA American Industrial Renaissance ETF | 31.77% | 37.02% |
Correlation
The correlation between TMAR and AIRR is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025 | 0.49 |
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Return for Risk
TMAR vs. AIRR — Risk / Return Rank
TMAR
AIRR
TMAR vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - March (TMAR) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| TMAR | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.77 | 1.41 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 7.95 | 5.05 | +2.90 |
| Martin ratioReturn relative to average drawdown | 38.42 | 18.68 | +19.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TMAR | AIRR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 2.61 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.01 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.84 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.25 | 0.67 | +1.59 |
Drawdowns
TMAR vs. AIRR - Drawdown Comparison
The maximum TMAR drawdown since its inception was -9.93%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for TMAR and AIRR.
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Drawdown Indicators
| TMAR | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.93% | -42.37% | +32.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.64% | -13.09% | +9.45% |
Max Drawdown (3Y)Largest decline over 3 years | — | -27.95% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.37% | — |
Current DrawdownCurrent decline from peak | -0.72% | -1.86% | +1.14% |
Average DrawdownAverage peak-to-trough decline | -0.66% | -7.43% | +6.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 3.53% | -2.78% |
Volatility
TMAR vs. AIRR - Volatility Comparison
The current volatility for FT Vest Emerging Markets Buffer ETF - March (TMAR) is 4.53%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 7.87%. This indicates that TMAR experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMAR | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.53% | 7.87% | -3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 19.82% | -11.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.47% | 25.40% | -15.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.42% | 25.29% | -13.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.42% | 26.29% | -14.87% |
TMAR vs. AIRR - Expense Ratio Comparison
TMAR has a 0.95% expense ratio, which is higher than AIRR's 0.70% expense ratio.
Dividends
TMAR vs. AIRR - Dividend Comparison
TMAR has not paid dividends to shareholders, while AIRR's dividend yield for the trailing twelve months is around 0.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
TMAR FT Vest Emerging Markets Buffer ETF - March | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TMAR and AIRR have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIRR has higher volatility (7.87%) compared to TMAR (4.53%). In terms of maximum drawdown, TMAR dropped -9.93% vs AIRR's -42.37%.
On 1-year performance, AIRR leads with 65.82% vs 28.83% for TMAR. On fees, AIRR is cheaper at 0.70% per year. On volatility, TMAR has been the lower-risk option at 4.53%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AIRR has performed better with a 65.82% return vs 28.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AIRR is cheaper with a 0.70% expense ratio, compared with 0.95% for TMAR.
AIRR has the higher dividend yield at 0.13%, compared with 0.00% for TMAR.
TMAR is categorized as Defined Outcome, while AIRR is Building & Construction. TMAR tracks iShares MSCI Emerging Markets ETF (EEM) Price Return, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance (TR). Their fees differ too: 0.95% for TMAR and 0.70% for AIRR.
TMAR currently has the higher Sharpe Ratio (3.06 vs 2.61), 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.
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