Data as of Nov 4, 2026.

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Buffer ETFs

FEBU vs SIXF: Cap, Buffer & Days Left

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As of Nov 4, 2026 FEBU can fall 7.4% before its buffer engages and SIXF 2.7%.

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Net assets on Nov 3, 2026: $47m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Feb and $53m for AllianzIM U.S. Equity Buffer10 ETF - Feb.

At a glance
7.4%
FEBU can fall this far before its buffer
2.7%
SIXF can fall this far before its buffer
uncapped
FEBU can still gain
4.8%
SIXF can still gain
FEBU No cap
No capFEBU: reference +10.8% since period start, fund +7.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.15 pts of buffer+10.8% gained, no cap−15.0% floor0% period startno capTODAY · SPY +10.8%No capFEBU: reference +10.8% since period start, fund +7.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.15 pts−15.0% floor0% startno cap+10.8% gained, no capTODAY · SPY +10.8%

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.
SIXF Between buffer and cap
Between buffer and capSIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer−10.0% floor0% period start+7.8% cap+2.6% gain captured+5.1% more to the capTODAY · SPY +2.6%Between buffer and capSIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.10 pts−10.0% floor0% start+7.8% cap+2.6% gain captured+5.1% more to the capTODAY · SPY +2.6%

SIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.

SIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.74% a year; their one-year returns differ by 4.4 points; SIXF is 1.1 times larger.

Points (pts) are percentage points.

FEBU vs SIXF: Cap, Buffer & Days Left
MeasureFEBUSIXF
Return
Total return, 1 year+9.0%+13.4%
Drawdown
Index fall to the buffer9.8%2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.74%0.74%
Net assets, as of Nov 3, 2026$47m$53m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · FEBU scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score64.6FEBU38.7SIXF

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: FEBU vs SIXF: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowFEBUSIXFFEBUSIXF
3 months−1.3%+1.2%−0.9 pts+1.6 pts
6 months+2.3%+5.8%−2.2 pts+1.3 pts
1 year+9.0%+13.4%−4.6 pts−0.2 pts
Since launchNot the same days: FEBU Feb 2025 · SIXF Feb 2024+19.7%+40.7%−8.6 pts−16.0 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

FEBU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Feb · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Jan 31, 2027 SIXF AllianzIM U.S. Equity Buffer10 ETF - Feb · Absorbs the first 10% of loss on SPY and caps the gain at 7.8%, over a period ending Jan 31, 2027
Reference index SPY SPY
Buffer 15% 10%
Outcome period Feb 1, 2026 to Jan 31, 2027 Aug 1, 2026 to Jan 31, 2027
Days left 88 88
Starting cap uncapped +7.8%
Can still gain uncapped 4.8%
Fall before buffer 7.4% 2.7%
Protection left, index points 15.0% of 15.0% 10.0% of 10.0%
Index return this period +10.8% +2.6%
Fund return this period +7.1% +2.4%
State today Uncapped Open
Expense ratio 0.74% 0.74%
Net assets, as of Nov 3, 2026 $47m $53m

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

FEBU resets first, on Jan 31, 2027, 88 days from now; SIXF runs to Jan 31, 2027, 88 days. A fall from here reaches FEBU’s buffer after 7.4% and SIXF’s after 2.7%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
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. In index terms, SPY can fall 9.8% 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. 88 days remained on Nov 4, 2026. On Jan 31, 2027 the period ends and new terms are set.

SIXF

From its price on Nov 4, 2026, the fund can gain about 4.8% more before it reaches its cap. The fund's price can fall 2.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% 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. On Jan 31, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, FEBU or SIXF?
FEBU ends its outcome period on Jan 31, 2027 and SIXF on Jan 31, 2027. New terms are set the day after each.
Which is cheaper, FEBU or SIXF?
FEBU and SIXF both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

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, FEBU against SIXF, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febu-vs-sixf

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