Data as of Oct 28, 2026.
IVV vs NVBU: Differences, Returns & Fees
Over the year to Oct 28, 2026, IVV returned +13.7% to NVBU's +7.7%, and IVV charges 0.03% to NVBU's 0.74%.
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Net assets on Oct 27, 2026: $885.1bn for iShares Core S&P 500 ETF and $35m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Nov.
Pair scorecard
IVV costs 0.71 points a year less; their one-year returns differ by 6.0 points; IVV is far larger, $885.1bn against $35m.
| Measure | IVV | NVBU |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.7% | +7.7% |
| Drawdown | ||
| Index fall to the buffer | 11.7% | |
| Fund price fall to the buffer | 8.6% | |
| Benchmark | ||
| What it tracks | S&P 500 | SPY |
| The outcome period | ||
| Buffer left, in index points | 15.0% of 15.0% | |
| Days left in the period | 3 | |
| Period ends | Oct 31, 2026 | |
| Cost and size | ||
| Expense ratio | 0.03% | 0.74% |
| Net assets, as of Oct 27, 2026 | $885.1bn | $35m |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 38.1% | |
Risk and return
Nov 8, 2024 to Oct 23, 2026 · 102 weekly returns · each against SPYIVV returned more: +30.1% to +18.9%. NVBU swung less: 10.0% to 14.9%. NVBU fell less at its worst: −10.7% to −16.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IVV | NVBU | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +30.1% | +18.9% | IVV | Price change plus distributions, reinvested. | |
| Annualized | +14.4% | +9.2% | IVV | Total return as a yearly rate. | |
| Price return | +27.0% | +18.9% | IVV | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 14.9% | 10.0% | NVBU | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 9.9% | 6.8% | NVBU | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −16.9% | −10.7% | NVBU | Deepest fall from a high to the low after it. | |
| Upside capture | 100.9% | 62.9% | 100.0% | IVV | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 100.4% | 80.8% | 100.0% | NVBU | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.01 | 0.66 | 1.00 | NVBU lower | How far it moves for each 1% its benchmark moves. |
| R squared | 1.00 | 0.94 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.71 | 0.53 | IVV | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.06 | 0.78 | IVV | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.105 | 0.080 | 0.104 | IVV | Return above Treasury bills per unit of beta. |
| Calmar | 0.85 | 0.86 | Tie | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | 0.0% a year | −1.6% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.05 | −0.87 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −0.5% to +0.6% | −5.2% to +2.0% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | 0.18 | −0.91 | IVV | Return against its benchmark per unit of tracking error. | |
| Tracking error | 0.4% | 5.7% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 102 weekly returns. Cash rate: the 13-week Treasury bill.
Side by side
IVV and NVBU on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IVV and NVBU do different jobs. What does each one do in a portfolio?
- What each follows. IVV follows S&P 500 and NVBU follows SPY.
- One-year total return. Over 1 year to Oct 28, 2026 IVV returned +13.7% and NVBU +7.7% with distributions reinvested, a gap of 6.0 points.
- Cost. IVV charges 0.03% of assets a year and NVBU 0.74%, a gap of 0.71 points.
Data as of Oct 28, 2026.
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IVV
IVV tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.6% for its benchmark, the S&P 500. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.1%.
NVBU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 8.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.7% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 3 days remained on Oct 28, 2026. On Oct 31, 2026 the period ends and new terms are set.
Questions people ask
- Are IVV and NVBU in the same category?
- IVV is a stock ETF and NVBU is a buffer ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, IVV or NVBU?
- In the year to Oct 28, 2026, with distributions reinvested, IVV returned +13.7% and NVBU +7.7%.
- Which is cheaper, IVV or NVBU?
- IVV is cheaper, by 0.71 percentage points a year. That is about $71 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, IVV against NVBU, data as of Oct 28, 2026. https://etfiq.com/compare/any/ivv-vs-nvbu
ETFIQ. (Oct 28, 2026). IVV against NVBU. Retrieved from https://etfiq.com/compare/any/ivv-vs-nvbu
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