Data as of Nov 4, 2026.
FEBT vs PFEB: Cap, Buffer & Days Left
As of Nov 4, 2026 FEBT can fall 9.1% before its buffer engages and PFEB 7.9%.
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Net assets: $101m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Feb, and $884m on Nov 4, 2026 for Innovator U.S. Equity Power Buffer 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.PFEB: reference +10.8% since period start, fund +7.9%; buffer 0 to −15; cap +12.4%; Between buffer and cap. Data to Nov 4, 2026.
PFEB: reference +10.8% since period start, fund +7.9%; buffer 0 to −15; cap +12.4%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
FEBT costs 0.05 points a year less; their one-year returns differ by 2.6 points; PFEB is 8.7 times larger.
Points (pts) are percentage points.
| Measure | FEBT | PFEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.9% | +11.3% |
| Drawdown | ||
| Index fall to the buffer | 9.8% | 9.7% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $101m | $883m |
| 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 more: +68.4% to +52.0%. PFEB swung less: 7.0% to 9.0%. PFEB fell less at its worst: −9.4% to −11.6%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FEBT | PFEB | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +68.4% | +52.0% | FEBT | Price change plus distributions, reinvested. | |
| Annualized | +15.0% | +11.9% | FEBT | Total return as a yearly rate. | |
| Price return | +67.9% | +52.0% | FEBT | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 9.0% | 7.0% | PFEB | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 6.0% | 4.7% | PFEB | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −11.6% | −9.4% | PFEB | Deepest fall from a high to the low after it. | |
| Upside capture | 55.1% | 37.7% | 100.0% | FEBT | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 64.9% | 47.1% | 100.0% | PFEB | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.63 | 0.47 | 1.00 | PFEB lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.89 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.08 | 0.98 | FEBT (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.64 | 1.47 | FEBT | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.156 | 0.145 | 0.142 | FEBT (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 1.29 | 1.26 | 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 | +0.1% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.77 | 0.12 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.4% to +3.2% | −2.2% to +2.5% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.77 | −0.95 | FEBT | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.7% | 7.7% | 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 | PFEB | FEBT | PFEB |
| 3 months | +1.2% | +1.4% | +1.6 pts | +1.8 pts |
| 6 months | +5.0% | +4.4% | +0.5 pts | −0.1 pts |
| 1 year | +13.9% | +11.3% | +0.3 pts | −2.3 pts |
| 3 years | +60.0% | +44.0% | −16.4 pts | −32.4 pts |
| Since launchNot the same days: FEBT Feb 2023 · PFEB Feb 2020 | +69.2% | +80.0% | −17.5 pts | −56.6 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
FEBT resets first, on Jan 31, 2027, 88 days from now; PFEB runs to Jan 31, 2027, 88 days. FEBT can still gain 5.1% before its cap, PFEB 3.6%. A fall from here reaches FEBT’s buffer after 9.1% and PFEB’s after 7.9%. 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.
PFEB
From its price on Nov 4, 2026, the fund can gain about 3.6% more before it reaches its cap. The fund's price can fall 7.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 9.7% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.
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 PFEB, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febt-vs-pfeb
ETFIQ. (Nov 4, 2026). FEBT against PFEB. Retrieved from https://etfiq.com/compare/buffer/febt-vs-pfeb
[FEBT against PFEB (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/febt-vs-pfeb)
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