Data as of Nov 4, 2026.
FFEB vs SIXP: Cap, Buffer & Days Left
As of Nov 4, 2026 FFEB can fall 8.9% before its buffer engages and SIXP 1.1%, and FFEB resets 9 days sooner.
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Net assets on Nov 3, 2026: $1.4bn for FT Vest U.S. Equity Buffer ETF - February and $215m for AllianzIM U.S. Equity Buffer10 ETF - Mar.
FFEB: reference +11.2% since period start, fund +8.9%; buffer 0 to −10; cap +15.0%; Between buffer and cap. Data to Nov 4, 2026.
FFEB: reference +11.2% since period start, fund +8.9%; buffer 0 to −10; cap +15.0%; Between buffer and cap. Data to Nov 4, 2026.SIXP: reference 0.0% since period start, fund +0.8%; buffer 0 to −10; cap +7.6%; Buffer working. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
SIXP costs 0.11 points a year less; their one-year returns differ by 1.8 points; FFEB is 6.5 times larger.
Points (pts) are percentage points.
| Measure | FFEB | SIXP |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.7% | +11.9% |
| Drawdown | ||
| Index fall to the buffer | 10.1% | 0.0% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.74% |
| Net assets, as of Nov 3, 2026 | $1.4bn | $215m |
| 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
Mar 8, 2024 to Oct 30, 2026 · 138 weekly returns · each against SPYFrom Mar 2024 to Oct 2026, FFEB returned slightly more: +40.2% to +37.0%. SIXP swung less: 7.6% to 8.7%. SIXP fell slightly less at its worst: −9.8% to −10.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FFEB | SIXP | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +40.2% | +37.0% | FFEB (slight) | Price change plus distributions, reinvested. | |
| Annualized | +13.6% | +12.6% | FFEB (slight) | Total return as a yearly rate. | |
| Price return | +40.2% | +37.0% | FFEB (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 8.7% | 7.6% | SIXP | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 5.8% | 5.2% | SIXP | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −10.7% | −9.8% | SIXP (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 48.7% | 42.0% | 100.0% | FFEB | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 57.1% | 49.8% | 100.0% | SIXP | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.58 | 0.51 | 1.00 | SIXP lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.95 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.02 | 1.03 | Tie | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.51 | 1.52 | Tie | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.151 | 0.153 | 0.126 | Tie | Return above Treasury bills per unit of beta. |
| Calmar | 1.27 | 1.29 | Tie | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +1.4% a year | +1.4% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 1.13 | 1.24 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −1.1% to +3.9% | −0.8% to +3.6% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.60 | −0.66 | FFEB (slight) | Return against its benchmark per unit of tracking error. | |
| Tracking error | 6.4% | 7.3% | 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, 138 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FFEB | SIXP | FFEB | SIXP |
| 3 months | +1.3% | +1.2% | +1.7 pts | +1.6 pts |
| 6 months | +4.8% | +4.4% | +0.3 pts | −0.1 pts |
| 1 year | +13.7% | +11.9% | +0.1 pts | −1.7 pts |
| 3 years | +59.7% | – | −16.7 pts | – |
| Since launchNot the same days: FFEB Feb 2020 · SIXP Mar 2024 | +109.3% | +37.9% | −28.6 pts | −11.6 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.
Where each one stands today
FFEB resets first, on Feb 19, 2027, 107 days from now; SIXP runs to Feb 28, 2027, 116 days. FFEB can still gain 4.9% before its cap, SIXP 6.4%. A fall from here reaches FFEB’s buffer after 8.9% and SIXP’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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FFEB
From its price on Nov 4, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 8.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.1% 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. 107 days remained on Nov 4, 2026. On Feb 19, 2027 the period ends and a new cap is set.
SIXP
From its price on Nov 4, 2026, the fund can gain about 6.4% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. 116 days remained on Nov 4, 2026. On Feb 28, 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, FFEB against SIXP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ffeb-vs-sixp
ETFIQ. (Nov 4, 2026). FFEB against SIXP. Retrieved from https://etfiq.com/compare/buffer/ffeb-vs-sixp
[FFEB against SIXP (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ffeb-vs-sixp)
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