XFEB vs. TWOX

Last updated Aug 1, 2026

XFEB (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February) and TWOX (iShares Large Cap Accelerated Outcome ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, XFEB returned 10.47% vs 14.89% for TWOX. Their correlation of 0.85 means they have usually moved in the same direction. XFEB charges 0.85%/yr vs 0.50%/yr for TWOX.

Performance

XFEB vs. TWOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February (XFEB) and iShares Large Cap Accelerated Outcome ETF (TWOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XFEB achieves a 5.40% return, which is significantly higher than TWOX's 3.60% return.

XFEB

• 1D: 0.27%
• 1M: 0.68%
• 6M: 4.78%
• YTD: 5.40%
• 1Y: 10.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.76%

TWOX

• 1D: 0.81%
• 1M: 0.81%
• 6M: 2.32%
• YTD: 3.60%
• 1Y: 14.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.80%

*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)
TWOX iShares Large Cap Accelerated Outcome ETF	$60.75K	$39.12K	$186.08K
XFEB FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February	$48.22K	$43.62K	$38.05K

XFEB vs. TWOX - Yearly Performance Comparison

	2026 (YTD)	2025
XFEB FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February	5.40%	8.79%
TWOX iShares Large Cap Accelerated Outcome ETF	3.60%	12.99%

Correlation

The correlation between XFEB and TWOX is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (All Time) Calculated using the full available price history since Jan 16, 2025	0.85

The correlation between XFEB and TWOX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

XFEB vs. TWOX — Risk / Return Rank

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

XFEB

XFEB Risk / Return Rank: 86
XFEB Sharpe Ratio Rank: 89
XFEB Sortino Ratio Rank: 91
XFEB Omega Ratio Rank: 93
XFEB Calmar Ratio Rank: 69
XFEB Martin Ratio Rank: 89

TWOX

TWOX Risk / Return Rank: 49
TWOX Sharpe Ratio Rank: 50
TWOX Sortino Ratio Rank: 46
TWOX Omega Ratio Rank: 57
TWOX Calmar Ratio Rank: 40
TWOX Martin Ratio Rank: 55

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.

XFEB vs. TWOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February (XFEB) and iShares Large Cap Accelerated Outcome ETF (TWOX). 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.

	XFEB	TWOX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	1.23	+0.97
Sortino ratio: Return per unit of downside risk	3.32	1.72	+1.60
Omega ratio: Gain probability vs. loss probability	1.49	1.25	+0.24
Calmar ratio: Return relative to maximum drawdown	2.42	1.41	+1.01
Martin ratio: Return relative to average drawdown	13.92	6.58	+7.34

XFEB vs. TWOX - Sharpe Ratio Comparison

The current XFEB Sharpe Ratio is 2.20, which is higher than the TWOX Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of XFEB and TWOX, 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

XFEB vs. TWOX - Drawdown Comparison

The maximum XFEB drawdown since its inception was -9.07%, smaller than the maximum TWOX drawdown of -19.35%. Use the drawdown chart below to compare losses from any high point for XFEB and TWOX.

Drawdown Indicators

	XFEB	TWOX	Difference
Max Drawdown Largest peak-to-trough decline	-9.07%	-19.35%	+10.28%
Max Drawdown (1Y) Largest decline over 1 year	-4.12%	-9.51%	+5.39%
Current Drawdown Current decline from peak	0.00%	-0.58%	+0.58%
Average Drawdown Average peak-to-trough decline	-0.52%	-2.41%	+1.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	2.04%	-1.32%

Volatility

XFEB vs. TWOX - Volatility Comparison

The current volatility for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February (XFEB) is 1.06%, while iShares Large Cap Accelerated Outcome ETF (TWOX) has a volatility of 3.59%. This indicates that XFEB experiences smaller price fluctuations and is considered to be less risky than TWOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XFEB	TWOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	3.59%	-2.53%
Volatility (6M) Calculated over the trailing 6-month period	4.05%	8.10%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.54%	10.89%	-6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.95%	16.13%	-9.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.95%	16.13%	-9.18%

XFEB vs. TWOX - Expense Ratio Comparison

XFEB has a 0.85% expense ratio, which is higher than TWOX's 0.50% expense ratio.

Dividends

XFEB vs. TWOX - Dividend Comparison

XFEB has not paid dividends to shareholders, while TWOX's dividend yield for the trailing twelve months is around 0.55%.

Position	TTM	2025
TWOX iShares Large Cap Accelerated Outcome ETF	0.55%	0.57%
XFEB FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February	0.00%	0.00%

Frequently Asked Questions

Can I hold both XFEB and TWOX in my portfolio?

XFEB and TWOX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XFEB or TWOX?

TWOX has higher volatility (3.59%) compared to XFEB (1.06%). In terms of maximum drawdown, XFEB dropped -9.07% vs TWOX's -19.35%.

Which ETF is better, XFEB or TWOX?

On 1-year performance, TWOX leads with 14.89% vs 10.47% for XFEB. On fees, TWOX is cheaper at 0.50% per year. On volatility, XFEB has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XFEB or TWOX?

Over the 1-year period, TWOX has performed better with a 14.89% return vs 10.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XFEB or TWOX?

TWOX is cheaper with a 0.50% expense ratio, compared with 0.85% for XFEB.

Which ETF pays a higher dividend yield, XFEB or TWOX?

TWOX has the higher dividend yield at 0.55%, compared with 0.00% for XFEB.

What is the main difference between XFEB and TWOX?

They also come from different issuers: First Trust and iShares. Their fees differ too: 0.85% for XFEB and 0.50% for TWOX.

Which has better risk-adjusted returns?

XFEB currently has the higher Sharpe Ratio (2.20 vs 1.23), 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.