Data as of Nov 4, 2026.
FOCT vs NVBW: Cap, Buffer & Days Left
As of Nov 4, 2026 NVBW can fall 1.4% before its buffer engages and FOCT 1.3%, and FOCT resets 16 days sooner.
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Net assets on Nov 3, 2026: $1.3bn for FT Vest U.S. Equity Buffer ETF - October and $101m for AllianzIM U.S. Equity Buffer20 ETF - Nov.
FOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −10; cap +17.2%; Between buffer and cap. Data to Nov 4, 2026.
FOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −10; cap +17.2%; Between buffer and cap. Data to Nov 4, 2026.NVBW: reference +1.5% since period start, fund +0.7%; buffer 0 to −20; cap +12.7%; Between buffer and cap. Data to Nov 4, 2026.
NVBW: reference +1.5% since period start, fund +0.7%; buffer 0 to −20; cap +12.7%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
NVBW costs 0.11 points a year less; their one-year returns differ by 2.5 points; FOCT is 12.9 times larger.
Points (pts) are percentage points.
| Measure | FOCT | NVBW |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.7% | +11.2% |
| Drawdown | ||
| Index fall to the buffer | 0.5% | 1.4% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.74% |
| Net assets, as of Nov 3, 2026 | $1.3bn | $101m |
| 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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FOCT | NVBW | FOCT | NVBW |
| 3 months | +2.9% | +2.7% | +3.3 pts | +3.1 pts |
| 6 months | +6.7% | +5.8% | +2.2 pts | +1.3 pts |
| 1 year | +13.7% | +11.2% | +0.1 pts | −2.4 pts |
| 3 years | +49.2% | +35.7% | −27.2 pts | −40.7 pts |
| Since launchNot the same days: FOCT Oct 2020 · NVBW Nov 2022 | +85.0% | +48.2% | −39.2 pts | −51.2 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
FOCT resets first, on Oct 15, 2027, 345 days from now; NVBW runs to Oct 31, 2027, 361 days. FOCT can still gain 15.8% before its cap, NVBW 11.2%. A fall from here reaches FOCT’s buffer after 1.3% and NVBW’s after 1.4%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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FOCT
From its price on Nov 4, 2026, the fund can gain about 15.8% more before it reaches its cap. The fund's price can fall 1.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% 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. 345 days remained on Nov 4, 2026. On Oct 15, 2027 the period ends and a new cap is set.
NVBW
From its price on Nov 4, 2026, the fund can gain about 11.2% more before it reaches its cap. The fund's price can fall 1.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.
Questions people ask
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.
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ETFIQ, FOCT against NVBW, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/foct-vs-nvbw
ETFIQ. (Nov 4, 2026). FOCT against NVBW. Retrieved from https://etfiq.com/compare/buffer/foct-vs-nvbw
[FOCT against NVBW (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/foct-vs-nvbw)
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