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Data as of Oct 28, 2026.

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QBSV vs SPY: Differences, Returns & Fees

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QBSV and SPY are measured over different days, and SPY charges 0.09% to QBSV's 0.64%.

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Net assets on Oct 27, 2026: $28m for AllianzIM U.S. Equity Buffer5 ETF - Jan and $814.8bn for SPDR S&P 500 ETF Trust.

QBSV on its own →SPY on its own →
At a glance
+8.9%
QBSV total return, since launch, Apr 1, 2026
+13.6%
SPY total return, 1 year
0.64%
QBSV expense ratio
0.09%
SPY expense ratio

Pair scorecard

SPY costs 0.55 points a year less; SPY is far larger, $814.8bn against $28m.

QBSV vs SPY: Differences, Returns & Fees
MeasureQBSVSPY
Return
Total return, 1 yearnot published+13.6%
Drawdown
Index fall to the buffer1.3%
Fund price fall to the buffer1.1%
Benchmark
What it tracksSPYS&P 500 Index
The outcome period
Room to the cap4.0%
Buffer left, in index points5.0% of 5.0%
Days left in the period64
Period endsDec 31, 2026
Cost and size
Expense ratio0.64%0.09%
Net assets, as of Oct 27, 2026$28m$814.8bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight100%
Top ten holdings, share of the fund38.1%

Method

Side by side

QBSV AllianzIM U.S. Equity Buffer5 ETF - Jan SPY SPDR S&P 500 ETF Trust
Where it sits Buffer ETF Stock ETF
Issuer AllianzIM State Street
What it is Defined outcome, 5% on SPY Tracks the S&P 500
Total return, 1 year +8.9% (since launch, Apr 1, 2026) +13.6%
Its benchmark over the same days +17.9% (SPY) (since launch, Apr 1, 2026) +13.7% (VOO)
Gap to its benchmark −9.0 pts vs SPY (since launch, Apr 1, 2026) −0.1 pts vs VOO
Expense ratio 0.64% 0.09%
Holdings not read by ETFIQ 504
Net assets, as of Oct 27, 2026 $28m $814.8bn

QBSV and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
QBSV

From its price on Oct 28, 2026, the fund can gain about 4.0% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% from today's level to the point where the buffer begins. Protection left, in index points: 5.0% of the 5.0% buffer still sits below today's SPY level. 64 days remained on Oct 28, 2026. On Dec 31, 2026 the period ends and a new cap is set.

SPY

SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% 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 504 positions, with the top ten at 38.1%.

Questions people ask

Are QBSV and SPY in the same category?
QBSV is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which is cheaper, QBSV or SPY?
SPY is cheaper, by 0.55 percentage points a year. That is about $55 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
QBSV vs VOOQBSV vs SPYMIVV vs QBSVCPSU vs SPYCPSY vs SPYMART vs SPYSPY vs XNOVSPY vs XAUG
Where to next
QBSV on its own →SPY on its own →Hold both: look the portfolio through →Rankings →SPY dividend history →SPY holdings →Standards and sources →
Sources and dates
QBSV filings on SEC EDGAR ↗
AllianzIM page for QBSV ↗
SPY filings on SEC EDGAR ↗
State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, QBSV against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/qbsv-vs-spy

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