BUFD vs BUFP: Grades, Fees and Holdings Compared

FT Vest Laddered Deep Buffer ETF

BUFDCCboe

PGIM Laddered S&P 500 Buffer 12 ETF

BUFPBCboe

Overlap

0.0%by weight

Expense ratio

BUFP −0.45pt a year

BUFD0.95%BUFP0.50%

Avg volume · 30D

BUFD 4.2×the volume

BUFD303KBUFP72.1K

BUFD vs BUFP Performance

Oct 31, 2025 – Oct 30, 2026

+9.0%BUFD+10.7%BUFP

Expense ratio: BUFD 0.95%; BUFP 0.50%, better
Fund size: BUFD $2.22B; BUFP $338M
1Y total return: BUFD +9.0%; BUFP +10.7%, better
Yield (12M): BUFD No data; BUFP 0.01%
Holdings: BUFD 13; BUFP 15
Avg volume (30D): BUFD 303K sh, better; BUFP 72.1K sh
NAV per share: BUFD $30.34; BUFP $33.11
52W range

ETF.net Grade

Pillar letters and Scores for BUFD, BUFP, with each pillar’s weight
Pillar	BUFD	BUFP
Cost30% weight	F24	A85Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B61	B61
Tradability15% weight	A80Higher	C48
Holdings10% weight	A71	A71
Durability5% weight	A88Higher	C53

Rank among S&P 500 Laddered Buffer funds

How we build Categories ›

Same Category. BUFD and BUFP are both graded against the same 18 S&P 500 Laddered Buffer funds, so their Grades compare head to head.

S&P 500 Laddered Buffer⁠

Category · 18 funds

See all 18 ›

BUFP ranks 1st and BUFD 8th of 18 funds in the S&P 500 Laddered Buffer Category.

Rank 1BBUFPPGIM Laddered S&P 500 Buffer 12 ETFScore 69
Rank 2BPBFRPGIM Laddered S&P 500 Buffer 20 ETFScore 68
Rank 7CSPBWAllianzIM Buffer20 Allocation ETFScore 53
Rank 8CBUFDFT Vest Laddered Deep Buffer ETFScore 52
Rank 8CBUFRFT Vest Laddered Buffer ETFScore 52

Our read on each fund

ETF.net Research

BUFDCFT Vest Laddered Deep Buffer ETF

BUFPBPGIM Laddered S&P 500 Buffer 12 ETF

In short

BUFD Twelve First Trust deep buffer funds in one ticker, one resetting every month, so you never have to time an outcome period. The trade: a deeper cushion means a lower ceiling, and the ladder wrapper runs 0.95% a year.

BUFP Most buffer funds make you pick a start month and live with it. BUFP skips the choice: it owns twelve PGIM S&P 500 Buffer 12 ETFs, one per calendar month, so part of the ladder resets on a rolling basis.

Stated mandate

BUFD The Fund seeks capital appreciation by providing U.S. large-cap equity exposure while limiting downside risk through a laddered portfolio of twelve FT Vest U.S. Equity Deep Buffer ETFs.

BUFP The Fund seeks capital appreciation through U.S. large-cap equity exposure obtained via a laddered portfolio of twelve PGIM US Large-Cap Buffer 12 ETFs. The underlying ETFs seek limited downside protection and capped upside over a specified period, while the Fund itself has no stated buffer.

Why people hold it

BUFD One ticker holds twelve deep buffer funds on a monthly ladder, so there's no start month to pick and no buying in with a cushion that's already half spent.ftportfolios.com
Laddering spreads reset risk across twelve staggered outcome periods instead of one all-or-nothing 12-month window tied to a single entry date.
A multi-billion-dollar fund running since 2021, with U.S. large-cap exposure referenced to the SPDR S&P 500 ETF Trust.

BUFP Twelve underlying buffer ETFs, one for each month, spread the entry point instead of locking everything to a single outcome period and a single cap.pgim.com
Each underlying ETF targets a buffer against the first 12% (before fees) of SPY's price-return losses over a one-year period, paired with an upside cap.pgim.com
A 0.50% fee sits well under the 0.79% typical of buffer peers, and the package ranks among the stronger implementations in that group.

Worth knowing

BUFD At 0.95%, it prices above the 0.79% median in its buffer peer group, and rival laddered wrappers charge less: BUFP at 0.50%, PSFF at 0.10%.
Each underlying fund sets its own buffer and cap at its reset, for its own outcome period, so the protection and ceiling you hold shift month to month.ftportfolios.com
Income isn't part of the mandate. The stated objective is capital appreciation, and the fund has not been making distributions.

BUFP The wrapper itself has no stated buffer. PGIM notes it likely won't get the full benefit of the underlying buffers, and their caps limit its upside.pgim.com
Small and thinly traded, so spreads can run wider than at the category's giants. Matters most on larger orders.
Live since 2024, so the record is short. PSFF, the other fund-of-buffer-ETFs in the group, carries a lower fee.

Full BUFD profile⁠

Full BUFP profile⁠

BUFD vs BUFP Holdings

How BUFD and BUFP differ

Overlap by weight

0.0%

Shared holdings make up 0.1% of BUFD and 0.0% of BUFP.

Level by level

Holdings0 in both0.0%
Countryby domicile100%
Sector11 Sectors100%

Sector

Sector weights in BUFD and BUFP, widest gap first
Sector	More in BUFDMore in BUFP	BUFD	BUFP
Technology	Same weight	40.1%	40.1%
Financials	Same weight	11.3%	11.3%
Communication	Same weight	9.9%	9.9%
Health Care	Same weight	9.4%	9.4%
Consumer Discretionary	Same weight	8.7%	8.7%
Industrials	Same weight	7.6%	7.6%
Consumer Staples	Same weight	4.4%	4.4%
Energy	Same weight	3.4%	3.4%
Utilities	Same weight	1.9%	1.9%
Real Estate	Same weight	1.7%	1.7%
Materials	Same weight	1.6%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in BUFD and BUFP, widest gap first
Country	More in BUFDMore in BUFP	BUFD	BUFP
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

BUFD83.4%
BUFP83.3%

Securities held

BUFD12
BUFP13

Asset class

BUFD: Multi-Asset
BUFP: Alternatives

Holdings

Only in BUFD12
In both0
Only in BUFP13

Only in BUFD

12 securities, 99.9% of BUFD by weight

FT Vest U.S. Equity Deep Buffer ETF - November8.38%
FT Vest U.S. Equity Deep Buffer ETF - October8.37%
FT Vest U.S. Equity Deep Buffer ETF - March8.35%
FT Vest U.S. Equity Deep Buffer ETF - February8.35%
FT Vest U.S. Equity Deep Buffer ETF - December8.35%
FT Vest U.S. Equity Deep Buffer ETF - September8.34%
FT Vest U.S. Equity Deep Buffer ETF - January8.34%
FT Vest U.S. Equity Deep Buffer ETF - April8.34%
FT Vest U.S. Equity Deep Buffer ETF - July8.29%
FT Vest U.S. Equity Deep Buffer ETF - May8.28%
FT Vest U.S. Equity Deep Buffer ETF - June8.27%
FT Vest U.S. Equity Deep Buffer ETF - August8.27%

Only in BUFP

13 securities, 100% of BUFP by weight

Pgim S&P 500 Buffer 12 Etf - February8.39%
Pgim S&P 500 Buffer 12 Etf - July8.34%
Pgim S&P 500 Buffer 12 Etf - November8.33%
Pgim S&P 500 Buffer 12 Etf - April8.33%
Pgim S&P 500 Buffer 12 Etf - March8.33%
Pgim S&P 500 Buffer 12 Etf - December8.33%
Pgim S&P 500 Buffer 12 Etf - August8.33%
Pgim S&P 500 Buffer 12 Etf - January8.32%
Pgim S&P 500 Buffer 12 Etf - May8.32%
Pgim S&P 500 Buffer 12 Etf - September8.32%
Pgim S&P 500 Buffer 12 Etf - October8.32%
Pgim S&P 500 Buffer 12 Etf - June8.32%
Net Current Assets0.00%

Weight gaps

BUFD and BUFP share no securities.

All 12 BUFD holdings⁠All BUFP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BUFD vs BUFP Cost

Overpaying BUFD vs BUFP

$7,890

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BUFD 0.95%
$17,869
BUFP 0.50%
$9,979

Amount$10,000

Years30 years

Cost over time

BUFD 0.95%
BUFP 0.50%
Overpaying

Year by year

Year	BUFD	BUFP	Overpaying
10	$1,678	$900	$778
20	$6,322	$3,460	$2,862
30	$17,869	$9,979	$7,890

Expense ratio

0.95%BUFD
0.50%BUFP, cheaper

BUFP0.50%BUFD0.95%

0.30%1.21%

Middle half of S&P 500 Laddered Buffer funds
Median 0.89%

BUFP 2nd cheapest of 18 funds

BUFD 12th cheapest of 18 funds

BUFD vs BUFP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BUFD No data; BUFP 0.01%
Payout (12M): BUFD None; BUFP $0.0024
Last payment: BUFD No data; BUFP $0.0024
Ex-dividend: BUFD No data; BUFP Dec 30, 2025
Paid on: BUFD No data; BUFP Jan 2, 2026
Frequency: BUFD No data; BUFP Irregular

Distribution history

Per share, 2024 to 2026, same scale for both

BUFDAll BUFD payments⁠

No distribution history available.

BUFPIrregular · 2 paymentsAll BUFP payments⁠

BUFD vs BUFP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BUFD 5.8%BUFP 6.0%since Jul 2024
Return per unit of riskSharpe ratio, 3 years: BUFD 1.41BUFP 1.21since Jul 2024
Worst fallMax drawdown, 5 years: BUFD −10.8%BUFP −12.0%since Jun 2024
Market sensitivityBeta, 5 years: BUFD 0.42BUFP 0.50; Market = 1

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