TSEP vs. DRLL

Last updated Aug 6, 2026

TSEP (FT Vest Emerging Markets Buffer ETF - September) and DRLL (Strive U.S. Energy ETF) are both exchange-traded funds - TSEP is a Defined Outcome fund actively managed by First Trust, while DRLL is a Energy Equities fund tracking the Bloomberg US Energy Select Index. TSEP is actively managed, while DRLL is passively managed. Over the past year, TSEP returned 18.78% vs 37.23% for DRLL. Their 0.00 correlation means their historical movements had little consistent relationship. TSEP charges 0.95%/yr vs 0.41%/yr for DRLL.

Performance

TSEP vs. DRLL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Emerging Markets Buffer ETF - September (TSEP) and Strive U.S. Energy ETF (DRLL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSEP achieves a 10.69% return, which is significantly lower than DRLL's 29.95% return.

TSEP

• 1D: 0.19%
• 1M: 1.27%
• 6M: 6.62%
• YTD: 10.69%
• 1Y: 18.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.66%

DRLL

• 1D: -2.68%
• 1M: 8.84%
• 6M: 11.16%
• YTD: 29.95%
• 1Y: 37.23%
• 3Y*: 11.02%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DRLL Strive U.S. Energy ETF	$478.10K	$507.89K	$528.94K
TSEP FT Vest Emerging Markets Buffer ETF - September	$42.85K	$58.95K	$86.10K

TSEP vs. DRLL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TSEP FT Vest Emerging Markets Buffer ETF - September	10.69%	20.91%	-1.99%
DRLL Strive U.S. Energy ETF	29.95%	7.74%	-2.65%

Correlation

The correlation between TSEP and DRLL is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.15
Correlation (All Time) Calculated using the full available price history since Sep 23, 2024	0.00

The correlation between TSEP and DRLL shifts across timeframes, from -0.15 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TSEP vs. DRLL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSEP

TSEP Risk / Return Rank: 70
TSEP Sharpe Ratio Rank: 68
TSEP Sortino Ratio Rank: 68
TSEP Omega Ratio Rank: 75
TSEP Calmar Ratio Rank: 65
TSEP Martin Ratio Rank: 74

DRLL

DRLL Risk / Return Rank: 53
DRLL Sharpe Ratio Rank: 59
DRLL Sortino Ratio Rank: 53
DRLL Omega Ratio Rank: 52
DRLL Calmar Ratio Rank: 54
DRLL Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSEP vs. DRLL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - September (TSEP) and Strive U.S. Energy ETF (DRLL). 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.

	TSEP	DRLL	Difference
Sharpe ratio: Return per unit of total volatility	1.81	1.62	+0.19
Sortino ratio: Return per unit of downside risk	2.54	2.13	+0.41
Omega ratio: Gain probability vs. loss probability	1.35	1.27	+0.08
Calmar ratio: Return relative to maximum drawdown	2.60	2.20	+0.40
Martin ratio: Return relative to average drawdown	10.49	5.57	+4.92

TSEP vs. DRLL - Sharpe Ratio Comparison

The current TSEP Sharpe Ratio is 1.81, which is comparable to the DRLL Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of TSEP and DRLL, 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

TSEP vs. DRLL - Drawdown Comparison

The maximum TSEP drawdown since its inception was -9.83%, smaller than the maximum DRLL drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for TSEP and DRLL.

Drawdown Indicators

	TSEP	DRLL	Difference
Max Drawdown Largest peak-to-trough decline	-9.83%	-23.73%	+13.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.25%	-16.99%	+9.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.73%	—
Current Drawdown Current decline from peak	0.00%	-9.02%	+9.02%
Average Drawdown Average peak-to-trough decline	-1.62%	-8.14%	+6.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	6.71%	-4.92%

Volatility

TSEP vs. DRLL - Volatility Comparison

The current volatility for FT Vest Emerging Markets Buffer ETF - September (TSEP) is 2.76%, while Strive U.S. Energy ETF (DRLL) has a volatility of 7.42%. This indicates that TSEP experiences smaller price fluctuations and is considered to be less risky than DRLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSEP	DRLL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	7.42%	-4.66%
Volatility (6M) Calculated over the trailing 6-month period	8.57%	18.67%	-10.10%
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	23.14%	-12.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.27%	23.82%	-12.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.27%	23.82%	-12.55%

TSEP vs. DRLL - Expense Ratio Comparison

TSEP has a 0.95% expense ratio, which is higher than DRLL's 0.41% expense ratio.

Dividends

TSEP vs. DRLL - Dividend Comparison

TSEP has not paid dividends to shareholders, while DRLL's dividend yield for the trailing twelve months is around 2.34%.

Position	TTM	2025	2024	2023	2022
DRLL Strive U.S. Energy ETF	2.34%	2.99%	3.00%	3.01%	1.18%
TSEP FT Vest Emerging Markets Buffer ETF - September	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSEP and DRLL in my portfolio?

TSEP and DRLL have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSEP or DRLL?

DRLL has higher volatility (7.42%) compared to TSEP (2.76%). In terms of maximum drawdown, TSEP dropped -9.83% vs DRLL's -23.73%.

Which ETF is better, TSEP or DRLL?

On 1-year performance, DRLL leads with 37.23% vs 18.78% for TSEP. On fees, DRLL is cheaper at 0.41% per year. On volatility, TSEP has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSEP or DRLL?

Over the 1-year period, DRLL has performed better with a 37.23% return vs 18.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSEP or DRLL?

DRLL is cheaper with a 0.41% expense ratio, compared with 0.95% for TSEP.

Which ETF pays a higher dividend yield, TSEP or DRLL?

DRLL has the higher dividend yield at 2.34%, compared with 0.00% for TSEP.

What is the main difference between TSEP and DRLL?

TSEP is categorized as Defined Outcome, while DRLL is Energy Equities. They also come from different issuers: First Trust and Strive. Their fees differ too: 0.95% for TSEP and 0.41% for DRLL.

Which has better risk-adjusted returns?

TSEP currently has the higher Sharpe Ratio (1.81 vs 1.62), 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.