Data as of Nov 4, 2026.
FEBT vs FJAN: Cap, Buffer & Days Left
As of Nov 4, 2026 FEBT can fall 9.1% before its buffer engages and FJAN 9.1%, and FJAN resets 16 days sooner.
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Net assets on Nov 3, 2026: $101m for AllianzIM U.S. Equity Buffer10 ETF - Feb and $1.5bn for FT Vest U.S. Equity Buffer ETF - January.
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.FJAN: reference +10.8% since period start, fund +9.1%; buffer 0 to −10; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
FEBT costs 0.11 points a year less; their one-year returns differ by 1.0 point; FJAN is 14.9 times larger.
Points (pts) are percentage points.
| Measure | FEBT | FJAN |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.9% | +12.9% |
| Drawdown | ||
| Index fall to the buffer | 9.8% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.85% |
| Net assets, as of Nov 3, 2026 | $101m | $1.5bn |
| 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 →
Risk and return
Feb 10, 2023 to Oct 30, 2026 · 194 weekly returns · each against SPYFrom Feb 2023 to Oct 2026, FEBT returned slightly more: +68.4% to +63.3%. FJAN swung slightly less: 8.6% to 9.0%. FEBT and FJAN fell about the same at their worst: −11.6% and −11.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FEBT | FJAN | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +68.4% | +63.3% | FEBT (slight) | Price change plus distributions, reinvested. | |
| Annualized | +15.0% | +14.0% | FEBT (slight) | Total return as a yearly rate. | |
| Price return | +67.9% | +63.3% | FEBT (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 9.0% | 8.6% | FJAN (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 6.0% | 5.7% | FJAN (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −11.6% | −11.7% | Tie | Deepest fall from a high to the low after it. | |
| Upside capture | 55.1% | 49.3% | 100.0% | FEBT | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 64.9% | 59.4% | 100.0% | FJAN (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.63 | 0.59 | 1.00 | FJAN lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.92 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.08 | 1.04 | FEBT (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.64 | 1.56 | FEBT (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.156 | 0.151 | 0.142 | FEBT (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 1.29 | 1.20 | FEBT (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +0.9% a year | +0.5% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.77 | 0.41 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.4% to +3.2% | −2.0% to +3.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.77 | −0.85 | FEBT (slight) | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.7% | 6.2% | 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, 194 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FEBT | FJAN | FEBT | FJAN |
| 3 months | +1.2% | +1.3% | +1.6 pts | +1.7 pts |
| 6 months | +5.0% | +4.9% | +0.5 pts | +0.4 pts |
| 1 year | +13.9% | +12.9% | +0.3 pts | −0.7 pts |
| 3 years | +60.0% | +54.1% | −16.4 pts | −22.3 pts |
| Since launchNot the same days: FEBT Feb 2023 · FJAN Jan 2021 | +69.2% | +88.2% | −17.5 pts | −14.3 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
Where each one stands today
FJAN resets first, on Jan 15, 2027, 72 days from now; FEBT runs to Jan 31, 2027, 88 days. FEBT can still gain 5.1% before its cap, FJAN 4.3%. A fall from here reaches FEBT’s buffer after 9.1% and FJAN’s after 9.1%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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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.
FJAN
From its price on Nov 4, 2026, the fund can gain about 4.3% more before it reaches its cap. 72 days remained on Nov 4, 2026. On Jan 15, 2027 the period ends and a new cap is set.
Questions people ask
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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 FJAN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febt-vs-fjan
ETFIQ. (Nov 4, 2026). FEBT against FJAN. Retrieved from https://etfiq.com/compare/buffer/febt-vs-fjan
[FEBT against FJAN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/febt-vs-fjan)
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