YMAR vs. FSEP

Last updated Jun 24, 2026

YMAR (FT Vest International Equity Moderate Buffer ETF - March) and FSEP (FT Cboe Vest U.S. Equity Buffer ETF - September) are both exchange-traded funds - YMAR is a Defined Outcome fund tracking the iShares MSCI EAFE ETF, while FSEP is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index September. Both are passively managed. Over the past 5 years, YMAR returned 6.42%/yr vs 9.80%/yr for FSEP. A 0.68 correlation means they provide meaningful diversification when combined. YMAR charges 0.90%/yr vs 0.85%/yr for FSEP.

Performance

YMAR vs. FSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest International Equity Moderate Buffer ETF - March (YMAR) and FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with YMAR having a 5.63% return and FSEP slightly higher at 5.82%.

YMAR

• 1D: -0.58%
• 1M: 0.42%
• YTD: 5.63%
• 6M: 5.65%
• 1Y: 13.48%
• 3Y*: 11.01%
• 5Y*: 6.42%
• 10Y*: —

FSEP

• 1D: -0.80%
• 1M: -0.07%
• YTD: 5.82%
• 6M: 5.41%
• 1Y: 15.95%
• 3Y*: 13.62%
• 5Y*: 9.80%
• 10Y*: —

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

YMAR vs. FSEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
YMAR FT Vest International Equity Moderate Buffer ETF - March	5.63%	18.55%	3.12%	16.31%	-8.46%	3.11%
FSEP FT Cboe Vest U.S. Equity Buffer ETF - September	5.82%	12.83%	13.56%	20.23%	-7.05%	9.32%

Correlation

The correlation between YMAR and FSEP is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Mar 22, 2021	0.68

The correlation between YMAR and FSEP has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.

Return for Risk

YMAR vs. FSEP — Risk / Return Rank

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

YMAR

YMAR Risk / Return Rank: 74
YMAR Sharpe Ratio Rank: 64
YMAR Sortino Ratio Rank: 67
YMAR Omega Ratio Rank: 71
YMAR Calmar Ratio Rank: 84
YMAR Martin Ratio Rank: 87

FSEP

FSEP Risk / Return Rank: 71
FSEP Sharpe Ratio Rank: 70
FSEP Sortino Ratio Rank: 72
FSEP Omega Ratio Rank: 75
FSEP Calmar Ratio Rank: 62
FSEP 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.

YMAR vs. FSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest International Equity Moderate Buffer ETF - March (YMAR) and FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP). 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.

	YMAR	FSEP	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.11	-0.20
Sortino ratio: Return per unit of downside risk	2.78	3.02	-0.24
Omega ratio: Gain probability vs. loss probability	1.38	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	4.21	2.85	+1.36
Martin ratio: Return relative to average drawdown	16.95	14.23	+2.73

YMAR vs. FSEP - Sharpe Ratio Comparison

The current YMAR Sharpe Ratio is 1.91, which is comparable to the FSEP Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of YMAR and FSEP, 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

YMAR vs. FSEP - Drawdown Comparison

The maximum YMAR drawdown since its inception was -22.60%, which is greater than FSEP's maximum drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for YMAR and FSEP.

Drawdown Indicators

	YMAR	FSEP	Difference
Max Drawdown Largest peak-to-trough decline	-22.60%	-13.79%	-8.81%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-5.62%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	-9.37%	-12.37%	+3.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.60%	-13.79%	-8.81%
Current Drawdown Current decline from peak	-0.58%	-0.96%	+0.38%
Average Drawdown Average peak-to-trough decline	-4.00%	-2.12%	-1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	1.12%	-0.32%

Volatility

YMAR vs. FSEP - Volatility Comparison

FT Vest International Equity Moderate Buffer ETF - March (YMAR) and FT Cboe Vest U.S. Equity Buffer ETF - September (FSEP) have volatilities of 2.21% and 2.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	YMAR	FSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.20%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	5.57%	6.05%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	7.09%	7.62%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.37%	10.83%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.24%	10.53%	+0.71%

YMAR vs. FSEP - Expense Ratio Comparison

YMAR has a 0.90% expense ratio, which is higher than FSEP's 0.85% expense ratio.

Dividends

YMAR vs. FSEP - Dividend Comparison

Neither YMAR nor FSEP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both YMAR and FSEP in my portfolio?

YMAR and FSEP have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YMAR or FSEP?

YMAR has higher volatility (2.21%) compared to FSEP (2.20%). In terms of maximum drawdown, YMAR dropped -22.60% vs FSEP's -13.79%.

Which ETF is better, YMAR or FSEP?

On 5-year performance, FSEP leads with 9.80% vs 6.42% for YMAR. On fees, FSEP is cheaper at 0.85% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YMAR or FSEP?

Over the 5-year period, FSEP has performed better with a 9.80% return vs 6.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YMAR or FSEP?

FSEP is cheaper with a 0.85% expense ratio, compared with 0.90% for YMAR.

Which ETF pays a higher dividend yield, YMAR or FSEP?

YMAR and FSEP have nearly identical dividend yields, around 0.00%.

What is the main difference between YMAR and FSEP?

YMAR is categorized as Defined Outcome, while FSEP is Options Trading. YMAR tracks iShares MSCI EAFE ETF, while FSEP tracks Cboe S&P 500 Buffer Protect Index September. Their fees differ too: 0.90% for YMAR and 0.85% for FSEP.

Which has better risk-adjusted returns?

FSEP currently has the higher Sharpe Ratio (2.11 vs 1.91), 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.