Data as of .
FOCT vs NVBU: which one stands where?
As of Sep 21, 2026 FOCT can fall 12.4% before its buffer engages and NVBU 9.1%, and FOCT resets 15 days sooner.
ETFIQ Downside Cover Score: NVBU scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it · How it is computed
Where each one stands today
FOCT resets first, on Oct 16, 2026, 25 days from now; NVBU runs to Oct 31, 2026, 40 days. A fall from here reaches FOCT’s buffer after 12.4% and NVBU’s after 9.1%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| FOCT | NVBU | FOCT | NVBU | |
| 3 months | +3.2% | +0.7% | +0.9 pts | −1.6 pts |
| 6 months | +13.5% | +10.6% | −4.6 pts | −7.4 pts |
| 1 year | +14.1% | +10.6% | −2.4 pts | −6.0 pts |
| 3 years | +42.6% | not published | −35.8 pts | not published |
| FOCT FT Vest U.S. Equity Buffer ETF - October Absorbs the first 10% of loss on SPY and caps the gain at 15.1%, over a period ending Oct 16, 2026 | NVBU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Nov Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Oct 31, 2026 | |
|---|---|---|
| Issuer | First Trust | AllianzIM |
| Reference index | SPY | SPY |
| Buffer | 10% | 15% |
| Outcome period | Oct 20, 2025 to Oct 16, 2026 | Nov 1, 2025 to Oct 31, 2026 |
| Days left | 25 | 40 |
| Starting cap | +15.1% | uncapped |
| Can still gain | 0.9% | uncapped |
| Fall before buffer | 12.4% | 9.1% |
| Protection left, index points | 10.0% of 10.0% | 15.0% of 15.0% |
| Index return this period | +16.5% | +13.5% |
| Fund return this period | +13.2% | +9.1% |
| State today | At cap | Uncapped |
| Expense ratio | 0.85% | 0.74% |
| Net assets | $1.2bn | $34m |
FOCT in plain words
SPY had already risen past this fund's cap of +15.1% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.9% as the period runs out. The fund's price can fall 12.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 14.1% 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. 25 days remained on Sep 21, 2026. On Oct 16, 2026 the period ends and a new cap is set.
NVBU in plain words
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 9.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.9% 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. 40 days remained on Sep 21, 2026. On Oct 31, 2026 the period ends and a new cap is set.
Questions people ask
- Which resets first, FOCT or NVBU?
- FOCT ends its outcome period on Oct 16, 2026 and NVBU on Oct 31, 2026. A new cap is set the day after each.
- Which is cheaper, FOCT or NVBU?
- FOCT charges 0.85% a year and NVBU charges 0.74%, so NVBU is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, FOCT against NVBU, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/foct-vs-nvbu Free to use with attribution; the underlying files are at Open data.