Data as of Nov 4, 2026.
FEBP vs FEBW: Cap, Buffer & Days Left
As of Nov 4, 2026 FEBP can fall 8.6% before its buffer engages and FEBW 7.2%.
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Net assets: $34m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - February, and $203m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer20 ETF - Feb.
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.FEBW: reference +10.8% since period start, fund +6.9%; buffer 0 to −20; cap +10.6%; At its cap. Data to Nov 4, 2026.
FEBW: reference +10.8% since period start, fund +6.9%; buffer 0 to −20; cap +10.6%; At its cap. Data to Nov 4, 2026.Pair scorecard
FEBP costs 0.24 points a year less; their one-year returns differ by 3.0 points; FEBW is 6.0 times larger.
Points (pts) are percentage points.
| Measure | FEBP | FEBW |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.9% | +9.9% |
| Drawdown | ||
| Index fall to the buffer | 9.8% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.50% | 0.74% |
| Net assets, as of Nov 3, 2026 | $34m | $203m |
| Holdings | ||
| Holdings in common | not published | |
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
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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FEBP | FEBW | FEBP | FEBW |
| 3 months | +1.4% | +1.5% | +1.8 pts | +1.9 pts |
| 6 months | +4.8% | +4.2% | +0.3 pts | −0.3 pts |
| 1 year | +12.9% | +9.9% | −0.6 pts | −3.6 pts |
| 3 years | – | +38.2% | – | −38.2 pts |
| Since launchNot the same days: FEBP Feb 2024 · FEBW Feb 2023 | +39.5% | +45.6% | −17.3 pts | −41.1 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
As of Nov 4, 2026. Source: ETFIQ.
FEBW is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
FEBP resets first, on Jan 31, 2027, 88 days from now; FEBW runs to Jan 31, 2027, 88 days. FEBP can still gain 4.4% before its cap, FEBW 2.8%. A fall from here reaches FEBP’s buffer after 8.6% and FEBW’s after 7.2%. Both track SPY, so what separates them is where each is in its own period.
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.
FEBW
SPY had already risen past this fund's cap of +10.6% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.8% as the period runs out. The fund's price can fall 7.2% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level.
Questions people ask
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.
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ETFIQ, FEBP against FEBW, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febp-vs-febw
ETFIQ. (Nov 4, 2026). FEBP against FEBW. Retrieved from https://etfiq.com/compare/buffer/febp-vs-febw
[FEBP against FEBW (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/febp-vs-febw)
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