TSPA vs. BUFX

Last updated Jun 4, 2026

TSPA (T. Rowe Price US Equity Research ETF) and BUFX (FT Vest Laddered Enhance & Moderate Buffer ETF) are both exchange-traded funds - TSPA is a Large Cap Blend Equities fund actively managed by T. Rowe Price, while BUFX is a Defined Outcome fund managed by First Trust. Their correlation of 0.89 suggests significant overlap in exposure. TSPA charges 0.34%/yr vs 0.96%/yr for BUFX.

Performance

TSPA vs. BUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price US Equity Research ETF (TSPA) and FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSPA achieves a 11.31% return, which is significantly higher than BUFX's 4.10% return.

TSPA

• 1D: -0.67%
• 1M: 4.87%
• YTD: 11.31%
• 6M: 11.41%
• 1Y: 27.74%
• 3Y*: 22.97%
• 5Y*: —
• 10Y*: —

BUFX

• 1D: -0.05%
• 1M: 1.35%
• YTD: 4.10%
• 6M: 4.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TSPA vs. BUFX - Yearly Performance Comparison

	2026 (YTD)	2025
TSPA T. Rowe Price US Equity Research ETF	11.31%	12.69%
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	4.10%	5.62%

Correlation

The correlation between TSPA and BUFX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.89

Return for Risk

TSPA vs. BUFX — Risk / Return Rank

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

TSPA

TSPA Risk / Return Rank: 67
TSPA Sharpe Ratio Rank: 68
TSPA Sortino Ratio Rank: 67
TSPA Omega Ratio Rank: 68
TSPA Calmar Ratio Rank: 61
TSPA Martin Ratio Rank: 74

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.

TSPA vs. BUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price US Equity Research ETF (TSPA) and FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). 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.

	TSPA	BUFX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	—	—
Sortino ratio: Return per unit of downside risk	3.12	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	3.02	—	—
Martin ratio: Return relative to average drawdown	14.04	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TSPA	BUFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	2.68	-1.82

Drawdowns

TSPA vs. BUFX - Drawdown Comparison

The maximum TSPA drawdown since its inception was -24.72%, which is greater than BUFX's maximum drawdown of -2.87%. Use the drawdown chart below to compare losses from any high point for TSPA and BUFX.

Drawdown Indicators

	TSPA	BUFX	Difference
Max Drawdown Largest peak-to-trough decline	-24.72%	-2.87%	-21.85%
Max Drawdown (1Y) Largest decline over 1 year	-9.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.04%	—	—
Current Drawdown Current decline from peak	-0.67%	-0.07%	-0.60%
Average Drawdown Average peak-to-trough decline	-5.49%	-0.24%	-5.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	—	—

Volatility

Volatility by Period

	TSPA	BUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.26%	3.98%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	3.98%	+13.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	3.98%	+13.02%

TSPA vs. BUFX - Expense Ratio Comparison

TSPA has a 0.34% expense ratio, which is lower than BUFX's 0.96% expense ratio.

Dividends

TSPA vs. BUFX - Dividend Comparison

TSPA's dividend yield for the trailing twelve months is around 0.56%, while BUFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TSPA T. Rowe Price US Equity Research ETF	0.56%	0.62%	0.50%	0.41%	1.16%	0.43%

Frequently Asked Questions

Can I hold both TSPA and BUFX in my portfolio?

TSPA and BUFX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TSPA or BUFX?

On fees, TSPA is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TSPA or BUFX?

TSPA is cheaper with a 0.34% expense ratio, compared with 0.96% for BUFX.

Which ETF pays a higher dividend yield, TSPA or BUFX?

TSPA has the higher dividend yield at 0.56%, compared with 0.00% for BUFX.

What is the main difference between TSPA and BUFX?

TSPA is categorized as Large Cap Blend Equities, while BUFX is Defined Outcome. They also come from different issuers: T. Rowe Price and First Trust. Their fees differ too: 0.34% for TSPA and 0.96% for BUFX.