UNOV vs. BUFH

Last updated Jun 4, 2026

UNOV (Innovator U.S. Equity Ultra Buffer ETF - November) and BUFH (FT Vest Laddered Max Buffer ETF) are both exchange-traded funds - UNOV is a Large Cap Blend Equities fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect November Series Index, while BUFH is a Defined Outcome fund managed by First Trust. A 0.68 correlation means they provide meaningful diversification when combined. UNOV charges 0.79%/yr vs 0.95%/yr for BUFH.

Performance

UNOV vs. BUFH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) and FT Vest Laddered Max Buffer ETF (BUFH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UNOV achieves a 5.40% return, which is significantly higher than BUFH's 2.45% return.

UNOV

• 1D: -0.22%
• 1M: 2.17%
• YTD: 5.40%
• 6M: 5.64%
• 1Y: 13.88%
• 3Y*: 10.20%
• 5Y*: 6.68%
• 10Y*: —

BUFH

• 1D: -0.05%
• 1M: 0.75%
• YTD: 2.45%
• 6M: 2.82%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UNOV vs. BUFH - Yearly Performance Comparison

	2026 (YTD)	2025
UNOV Innovator U.S. Equity Ultra Buffer ETF - November	5.40%	6.40%
BUFH FT Vest Laddered Max Buffer ETF	2.45%	3.89%

Correlation

The correlation between UNOV and BUFH is 0.68, 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 Jun 26, 2025	0.68

Return for Risk

UNOV vs. BUFH — Risk / Return Rank

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

UNOV

UNOV Risk / Return Rank: 77
UNOV Sharpe Ratio Rank: 77
UNOV Sortino Ratio Rank: 81
UNOV Omega Ratio Rank: 84
UNOV Calmar Ratio Rank: 63
UNOV Martin Ratio Rank: 78

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.

UNOV vs. BUFH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - November (UNOV) and FT Vest Laddered Max Buffer ETF (BUFH). 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.

	UNOV	BUFH	Difference
Sharpe ratio: Return per unit of total volatility	2.50	—	—
Sortino ratio: Return per unit of downside risk	3.63	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.08	—	—
Martin ratio: Return relative to average drawdown	15.01	—	—
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

	UNOV	BUFH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	2.91	-1.99

Drawdowns

UNOV vs. BUFH - Drawdown Comparison

The maximum UNOV drawdown since its inception was -13.84%, which is greater than BUFH's maximum drawdown of -1.53%. Use the drawdown chart below to compare losses from any high point for UNOV and BUFH.

Drawdown Indicators

	UNOV	BUFH	Difference
Max Drawdown Largest peak-to-trough decline	-13.84%	-1.53%	-12.31%
Max Drawdown (1Y) Largest decline over 1 year	-4.52%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.10%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.10%	—	—
Current Drawdown Current decline from peak	-0.22%	-0.05%	-0.17%
Average Drawdown Average peak-to-trough decline	-1.66%	-0.18%	-1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	—	—

Volatility

Volatility by Period

	UNOV	BUFH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.58%	2.37%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.83%	2.37%	+4.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.72%	2.37%	+5.35%

UNOV vs. BUFH - Expense Ratio Comparison

UNOV has a 0.79% expense ratio, which is lower than BUFH's 0.95% expense ratio.

Dividends

UNOV vs. BUFH - Dividend Comparison

Neither UNOV nor BUFH has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both UNOV and BUFH in my portfolio?

UNOV and BUFH have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UNOV or BUFH?

On fees, UNOV is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UNOV or BUFH?

UNOV is cheaper with a 0.79% expense ratio, compared with 0.95% for BUFH.

Which ETF pays a higher dividend yield, UNOV or BUFH?

UNOV and BUFH have nearly identical dividend yields, around 0.00%.

What is the main difference between UNOV and BUFH?

UNOV is categorized as Large Cap Blend Equities, while BUFH is Defined Outcome. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for UNOV and 0.95% for BUFH.