TMAR vs. TDEC

Last updated Jun 23, 2026

TMAR (FT Vest Emerging Markets Buffer ETF - March) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both Defined Outcome funds - TMAR tracks the iShares MSCI Emerging Markets ETF (EEM) Price Return while TDEC tracks the MSCI Emerging Markets. Both are passively managed. Over the past year, TMAR returned 29.13% vs 23.62% for TDEC. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.95% expense ratio.

Performance

TMAR vs. TDEC - Performance Comparison

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

Returns By Period

In the year-to-date period, TMAR achieves a 15.63% return, which is significantly higher than TDEC's 10.01% return.

TMAR

• 1D: 0.15%
• 1M: 2.88%
• YTD: 15.63%
• 6M: 16.19%
• 1Y: 29.13%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TDEC

• 1D: 0.22%
• 1M: 2.09%
• YTD: 10.01%
• 6M: 11.45%
• 1Y: 23.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMAR vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025
TMAR FT Vest Emerging Markets Buffer ETF - March	15.63%	15.97%
TDEC FT Vest Emerging Markets Buffer ETF - December	10.01%	16.33%

Correlation

The correlation between TMAR and TDEC is 0.83, 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	0.83
Correlation (All Time) Calculated using the full available price history since Mar 24, 2025	0.84

The correlation between TMAR and TDEC has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

TMAR vs. TDEC — Risk / Return Rank

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

TMAR

TMAR Risk / Return Rank: 92
TMAR Sharpe Ratio Rank: 88
TMAR Sortino Ratio Rank: 90
TMAR Omega Ratio Rank: 95
TMAR Calmar Ratio Rank: 93
TMAR Martin Ratio Rank: 96

TDEC

TDEC Risk / Return Rank: 73
TDEC Sharpe Ratio Rank: 73
TDEC Sortino Ratio Rank: 73
TDEC Omega Ratio Rank: 87
TDEC Calmar Ratio Rank: 61
TDEC Martin Ratio Rank: 70

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.

TMAR vs. TDEC - Risk-Adjusted Trends Comparison

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

	TMAR	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	2.78	2.27	+0.51
Sortino ratio: Return per unit of downside risk	4.03	3.13	+0.90
Omega ratio: Gain probability vs. loss probability	1.70	1.51	+0.19
Calmar ratio: Return relative to maximum drawdown	6.24	2.91	+3.33
Martin ratio: Return relative to average drawdown	31.24	12.58	+18.65

TMAR vs. TDEC - Sharpe Ratio Comparison

The current TMAR Sharpe Ratio is 2.78, which is comparable to the TDEC Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of TMAR and TDEC, 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

TMAR vs. TDEC - Drawdown Comparison

The maximum TMAR drawdown since its inception was -9.93%, roughly equal to the maximum TDEC drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for TMAR and TDEC.

Drawdown Indicators

	TMAR	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-9.93%	-10.30%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.69%	-8.16%	+3.47%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.71%	-1.04%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	1.88%	-0.95%

Volatility

TMAR vs. TDEC - Volatility Comparison

FT Vest Emerging Markets Buffer ETF - March (TMAR) has a higher volatility of 5.53% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 3.93%. This indicates that TMAR's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMAR	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	3.93%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	9.72%	-0.17%
Volatility (1Y) Calculated over the trailing 1-year period	10.55%	10.50%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.08%	11.91%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.08%	11.91%	+0.17%

TMAR vs. TDEC - Expense Ratio Comparison

Both TMAR and TDEC have an expense ratio of 0.95%.

Dividends

TMAR vs. TDEC - Dividend Comparison

Neither TMAR nor TDEC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TMAR and TDEC in my portfolio?

TMAR and TDEC have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMAR or TDEC?

TMAR has higher volatility (5.53%) compared to TDEC (3.93%). In terms of maximum drawdown, TMAR dropped -9.93% vs TDEC's -10.30%.

Which ETF is better, TMAR or TDEC?

On 1-year performance, TMAR leads with 29.13% vs 23.62% for TDEC. Both ETFs have the same 0.95% expense ratio. On volatility, TDEC has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TMAR or TDEC?

Over the 1-year period, TMAR has performed better with a 29.13% return vs 23.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TMAR or TDEC?

TMAR and TDEC have the same expense ratio: 0.95% per year.

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

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

What is the main difference between TMAR and TDEC?

TMAR tracks iShares MSCI Emerging Markets ETF (EEM) Price Return, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: First Trust and FT Vest.

Which has better risk-adjusted returns?

TMAR currently has the higher Sharpe Ratio (2.78 vs 2.27), 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.