XDSQ vs. BUFF

Last updated Jun 4, 2026

XDSQ (Innovator US Equity Accelerated ETF) and BUFF (Innovator Laddered Allocation Power Buffer ETF) are both exchange-traded funds - XDSQ is a Leveraged Equities fund actively managed by Innovator, while BUFF is a Defined Outcome fund tracking the Refinitiv Laddered Power Buffer Strategy Index. XDSQ is actively managed, while BUFF is passively managed. Over the past 5 years, XDSQ returned 9.80%/yr vs 8.75%/yr for BUFF. Their correlation of 0.90 suggests significant overlap in exposure. XDSQ charges 0.79%/yr vs 0.89%/yr for BUFF.

Performance

XDSQ vs. BUFF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator US Equity Accelerated ETF (XDSQ) and Innovator Laddered Allocation Power Buffer ETF (BUFF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDSQ achieves a 2.80% return, which is significantly lower than BUFF's 5.58% return.

XDSQ

• 1D: 0.01%
• 1M: 1.59%
• YTD: 2.80%
• 6M: 3.86%
• 1Y: 15.98%
• 3Y*: 15.02%
• 5Y*: 9.80%
• 10Y*: —

BUFF

• 1D: 0.15%
• 1M: 1.62%
• YTD: 5.58%
• 6M: 6.06%
• 1Y: 14.66%
• 3Y*: 12.56%
• 5Y*: 8.75%
• 10Y*: —

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

XDSQ vs. BUFF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XDSQ Innovator US Equity Accelerated ETF	2.80%	14.22%	23.12%	23.00%	-16.78%	12.75%
BUFF Innovator Laddered Allocation Power Buffer ETF	5.58%	11.02%	12.05%	16.51%	-4.44%	5.48%

Correlation

The correlation between XDSQ and BUFF is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Apr 5, 2021	0.90

The correlation between XDSQ and BUFF has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

XDSQ vs. BUFF - Sectors Allocation Comparison

Sectors	XDSQ	BUFF
Technology	35.7%	36.2%
Financial Services	11.6%	11.9%
Communication Services	11.3%	10.9%
Consumer Cyclical	10.2%	10.1%
Healthcare	8.5%	8.4%
Industrials	8.3%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.4%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

XDSQ vs. BUFF — Risk / Return Rank

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

XDSQ

XDSQ Risk / Return Rank: 43
XDSQ Sharpe Ratio Rank: 43
XDSQ Sortino Ratio Rank: 41
XDSQ Omega Ratio Rank: 50
XDSQ Calmar Ratio Rank: 34
XDSQ Martin Ratio Rank: 47

BUFF

BUFF Risk / Return Rank: 88
BUFF Sharpe Ratio Rank: 87
BUFF Sortino Ratio Rank: 91
BUFF Omega Ratio Rank: 91
BUFF Calmar Ratio Rank: 80
BUFF Martin Ratio Rank: 91

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.

XDSQ vs. BUFF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator US Equity Accelerated ETF (XDSQ) and Innovator Laddered Allocation Power Buffer ETF (BUFF). 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.

	XDSQ	BUFF	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.86	-1.34
Sortino ratio: Return per unit of downside risk	2.09	4.32	-2.23
Omega ratio: Gain probability vs. loss probability	1.32	1.60	-0.28
Calmar ratio: Return relative to maximum drawdown	1.67	4.11	-2.44
Martin ratio: Return relative to average drawdown	7.97	21.95	-13.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDSQ vs. BUFF - Sharpe Ratio Comparison

The current XDSQ Sharpe Ratio is 1.52, which is lower than the BUFF Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of XDSQ and BUFF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	XDSQ	BUFF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	2.86	-1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	1.04	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.49	+0.20

Drawdowns

XDSQ vs. BUFF - Drawdown Comparison

The maximum XDSQ drawdown since its inception was -26.06%, smaller than the maximum BUFF drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for XDSQ and BUFF.

Drawdown Indicators

	XDSQ	BUFF	Difference
Max Drawdown Largest peak-to-trough decline	-26.06%	-46.23%	+20.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.60%	-3.58%	-6.02%
Max Drawdown (3Y) Largest decline over 3 years	-19.15%	-10.24%	-8.91%
Max Drawdown (5Y) Largest decline over 5 years	-26.06%	-10.24%	-15.82%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-4.96%	-6.18%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	0.67%	+1.34%

Volatility

XDSQ vs. BUFF - Volatility Comparison

The current volatility for Innovator US Equity Accelerated ETF (XDSQ) is 0.57%, while Innovator Laddered Allocation Power Buffer ETF (BUFF) has a volatility of 1.01%. This indicates that XDSQ experiences smaller price fluctuations and is considered to be less risky than BUFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDSQ	BUFF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	1.01%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	8.40%	3.83%	+4.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	5.15%	+5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.27%	8.41%	+6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.10%	17.67%	-2.57%

XDSQ vs. BUFF - Expense Ratio Comparison

XDSQ has a 0.79% expense ratio, which is lower than BUFF's 0.89% expense ratio.

Dividends

XDSQ vs. BUFF - Dividend Comparison

Neither XDSQ nor BUFF has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BUFF Innovator Laddered Allocation Power Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.78%	1.26%	1.74%	1.55%	0.18%
XDSQ Innovator US Equity Accelerated ETF	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

Can I hold both XDSQ and BUFF in my portfolio?

XDSQ and BUFF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDSQ or BUFF?

BUFF has higher volatility (1.01%) compared to XDSQ (0.57%). In terms of maximum drawdown, XDSQ dropped -26.06% vs BUFF's -46.23%.

Which ETF is better, XDSQ or BUFF?

On 5-year performance, XDSQ leads with 9.80% vs 8.75% for BUFF. On fees, XDSQ is cheaper at 0.79% per year. On volatility, XDSQ has been the lower-risk option at 0.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDSQ or BUFF?

Over the 5-year period, XDSQ has performed better with a 9.80% return vs 8.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDSQ or BUFF?

XDSQ is cheaper with a 0.79% expense ratio, compared with 0.89% for BUFF.

Which ETF pays a higher dividend yield, XDSQ or BUFF?

XDSQ and BUFF have nearly identical dividend yields, around 0.00%.

What is the main difference between XDSQ and BUFF?

XDSQ is categorized as Leveraged Equities, while BUFF is Defined Outcome. Their fees differ too: 0.79% for XDSQ and 0.89% for BUFF.

Which has better risk-adjusted returns?

BUFF currently has the higher Sharpe Ratio (2.86 vs 1.52), 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.