Data as of Nov 4, 2026.
FEBT vs FEBU: Cap, Buffer & Days Left
As of Nov 4, 2026 FEBT can fall 9.1% before its buffer engages and FEBU 7.4%.
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Net assets on Nov 3, 2026: $101m for AllianzIM U.S. Equity Buffer10 ETF - Feb and $47m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Feb.
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.FEBU: reference +10.8% since period start, fund +7.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
FEBU: reference +10.8% since period start, fund +7.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.Pair scorecard
Both cost 0.74% a year; their one-year returns differ by 4.9 points; FEBT is 2.1 times larger.
Points (pts) are percentage points.
| Measure | FEBT | FEBU |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.9% | +9.0% |
| Drawdown | ||
| Index fall to the buffer | 9.8% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.74% |
| Net assets, as of Nov 3, 2026 | $101m | $47m |
| 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 | FEBT | FEBU | FEBT | FEBU |
| 3 months | +1.2% | −1.3% | +1.6 pts | −0.9 pts |
| 6 months | +5.0% | +2.3% | +0.5 pts | −2.2 pts |
| 1 year | +13.9% | +9.0% | +0.3 pts | −4.6 pts |
| 3 years | +60.0% | – | −16.4 pts | – |
| Since launchNot the same days: FEBT Feb 2023 · FEBU Feb 2025 | +69.2% | +19.7% | −17.5 pts | −8.6 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.
Both are AllianzIM funds, so the difference between them is the terms rather than the house.
Where each one stands today
FEBT resets first, on Jan 31, 2027, 88 days from now; FEBU runs to Jan 31, 2027, 88 days. A fall from here reaches FEBT’s buffer after 9.1% and FEBU’s after 7.4%. Both track SPY, so what separates them is where each is in its own period.
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. In index terms, SPY can fall 9.8% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% 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.
FEBU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 7.4% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. On Jan 31, 2027 the period ends and new terms are set.
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, FEBT against FEBU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febt-vs-febu
ETFIQ. (Nov 4, 2026). FEBT against FEBU. Retrieved from https://etfiq.com/compare/buffer/febt-vs-febu
[FEBT against FEBU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/febt-vs-febu)
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