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Data as of Nov 4, 2026.

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Buffer ETFs

FEBP vs FEBT: Cap, Buffer & Days Left

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As of Nov 4, 2026 FEBT can fall 9.1% before its buffer engages and FEBP 8.6%.

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Net assets: $34m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - February, and $101m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Feb.

FEBP on its own →FEBT on its own →
At a glance
8.6%
FEBP can fall this far before its buffer
9.1%
FEBT can fall this far before its buffer
4.4%
FEBP can still gain
5.1%
FEBT can still gain
FEBP Between buffer and cap
Between buffer and capFEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.12 pts of buffer+10.8% gain captured−12.0% floor0% period start+14.2% cap+3.3% more to the capTODAY · SPY +10.8%Between buffer and capFEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.12 pts+10.8%−12.0% floor0% start+14.2% cap+3.3% more to the capTODAY · SPY +10.8%

FEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.

FEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.
FEBT Between buffer and cap
Between buffer and capFEBT: reference +10.8% since period start, fund +9.2%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+10.8% gain captured+4.7% to cap−10.0% floor0% period start+15.5% capTODAY · SPY +10.8%Between buffer and capFEBT: reference +10.8% since period start, fund +9.2%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts+10.8%−10.0% floor0% start+15.5% cap+4.7% more to the capTODAY · SPY +10.8%

FEBT: reference +10.8% since period start, fund +9.2%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Data to Nov 4, 2026.

FEBT: reference +10.8% since period start, fund +9.2%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

FEBP costs 0.24 points a year less; their one-year returns differ by 1.0 point; FEBT is 3.0 times larger.

Points (pts) are percentage points.

FEBP vs FEBT: Cap, Buffer & Days Left
MeasureFEBPFEBT
Return
Total return, 1 year+12.9%+13.9%
Drawdown
Index fall to the buffer9.8%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.74%
Net assets, as of Nov 3, 2026$34m$101m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · FEBP scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score51.9FEBP38.7FEBT

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Window by window

Window by window: FEBP vs FEBT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowFEBPFEBTFEBPFEBT
3 months+1.4%+1.2%+1.8 pts+1.6 pts
6 months+4.8%+5.0%+0.3 pts+0.5 pts
1 year+12.9%+13.9%−0.6 pts+0.3 pts
3 years–+60.0%–−16.4 pts
Since launchNot the same days: FEBP Feb 2024 · FEBT Feb 2023+39.5%+69.2%−17.3 pts−17.5 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

FEBP PGIM S&P 500 Buffer 12 ETF - February · Absorbs the first 12% of loss on SPY and caps the gain at 14.2%, over a period ending Jan 31, 2027 FEBT AllianzIM U.S. Equity Buffer10 ETF - Feb · Absorbs the first 10% of loss on SPY and caps the gain at 15.5%, over a period ending Jan 31, 2027
Issuer PGIM AllianzIM
Reference index SPY SPY
Buffer 12% 10%
Outcome period Feb 1, 2026 to Jan 31, 2027 Feb 1, 2026 to Jan 31, 2027
Days left 88 88
Starting cap +14.2% +15.5%
Can still gain 4.4% 5.1%
Fall before buffer 8.6% 9.1%
Protection left, index points 12.0% of 12.0% 10.0% of 10.0%
Index return this period +10.8% +10.8%
Fund return this period +8.9% +9.2%
State today Open Open
Expense ratio 0.50% 0.74%
Net assets, FEBP as of Nov 4, 2026 and FEBT as of Nov 3, 2026 $34m $101m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

FEBP resets first, on Jan 31, 2027, 88 days from now; FEBT runs to Jan 31, 2027, 88 days. FEBP can still gain 4.4% before its cap, FEBT 5.1%. A fall from here reaches FEBP’s buffer after 8.6% and FEBT’s after 9.1%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
FEBP

From its price on Nov 4, 2026, the fund can gain about 4.4% more before it reaches its cap. 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 9.8% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 88 days remained on Nov 4, 2026. On Jan 31, 2027 the period ends and a new cap is set.

FEBT

From its price on Nov 4, 2026, the fund can gain about 5.1% more before it reaches its cap. The fund's price can fall 9.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, FEBP or FEBT?
From their prices on Nov 4, 2026, FEBP can gain about 4.4% before its cap and FEBT about 5.1%, so FEBT has more room left this period.
Which resets first, FEBP or FEBT?
FEBP ends its outcome period on Jan 31, 2027 and FEBT on Jan 31, 2027. A new cap is set the day after each.
Which is cheaper, FEBP or FEBT?
FEBP charges 0.50% a year and FEBT charges 0.74%, so FEBP is cheaper. Fees come from each fund's prospectus.
Other comparisons
FEBP vs JANMFEBP vs PMFBFEBP vs XJANFEBP vs ZFEBFEBT vs JANMFEBT vs PBFBFEBT vs FEBUFEBT vs SIXF
Where to next
SPDR S&P 500 ETF Trust →FEBP on its own →FEBT on its own →FEBT dividend history →Method →Standards and sources →
Sources and dates
FEBP filings on SEC EDGAR ↗
PGIM website ↗
FEBT filings on SEC EDGAR ↗
AllianzIM page for FEBT ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, FEBP against FEBT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febp-vs-febt

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.