Data as of Nov 4, 2026.
NVBU vs OCTM: Cap, Buffer & Days Left
As of Nov 4, 2026 NVBU can fall 1.7% before its buffer engages and OCTM 1.2%, and OCTM resets 16 days sooner.
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Net assets on Nov 3, 2026: $34m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Nov and $42m for FT Vest U.S. Equity Max Buffer ETF - October.
NVBU: reference +1.5% since period start, fund +0.9%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
NVBU: reference +1.5% since period start, fund +0.9%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.OCTM: reference +0.5% since period start, fund +0.4%; buffer Floor; cap +8.3%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
NVBU costs 0.11 points a year less; their one-year returns differ by 1.4 points; OCTM is 1.2 times larger.
Points (pts) are percentage points.
| Measure | NVBU | OCTM |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.7% | +6.3% |
| Drawdown | ||
| Index fall to the buffer | 1.4% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.85% |
| Net assets, as of Nov 3, 2026 | $34m | $42m |
| Holdings | ||
| Holdings in common | not published | |
Risk and return
Nov 8, 2024 to Oct 30, 2026 · 103 weekly returns · each against SPYFrom Nov 2024 to Oct 2026, NVBU returned more: +18.0% to +12.5%. OCTM swung less: 2.7% to 10.0%. OCTM fell less at its worst: −3.0% to −10.7%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | NVBU | OCTM | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +18.0% | +12.5% | NVBU | Price change plus distributions, reinvested. | |
| Annualized | +8.7% | +6.1% | NVBU | Total return as a yearly rate. | |
| Price return | +18.0% | +12.5% | NVBU | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 10.0% | 2.7% | OCTM | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 6.7% | 1.7% | OCTM | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −10.7% | −3.0% | OCTM | Deepest fall from a high to the low after it. | |
| Upside capture | 62.9% | 15.3% | 100.0% | NVBU | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 81.1% | 16.8% | 100.0% | OCTM | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.66 | 0.17 | 1.00 | OCTM lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.88 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.48 | 0.71 | OCTM | Return above Treasury bills per unit of volatility. | |
| Sortino | 0.72 | 1.12 | OCTM | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.074 | 0.112 | 0.100 | OCTM | Return above Treasury bills per unit of beta. |
| Calmar | 0.82 | 2.03 | OCTM | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | −1.7% a year | +0.2% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.97 | 0.30 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −5.3% to +1.8% | −1.2% to +1.6% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.92 | −0.66 | OCTM | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.6% | 12.2% | 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, 103 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | NVBU | OCTM | NVBU | OCTM |
| 3 months | −1.9% | +1.6% | −1.5 pts | +1.9 pts |
| 6 months | +1.6% | +3.1% | −2.9 pts | −1.4 pts |
| 1 year | +7.7% | +6.3% | −5.9 pts | −7.3 pts |
| Since launchNot the same days: NVBU Nov 2024 · OCTM Oct 2024 | +23.4% | +13.2% | −10.9 pts | −18.1 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.
These are two different products. OCTM is a floor fund, which caps how far a holder can fall. NVBU is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
OCTM resets first, on Oct 15, 2027, 345 days from now; NVBU runs to Oct 31, 2027, 361 days. A fall from here reaches NVBU’s buffer after 1.7% and OCTM’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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NVBU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 1.7% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and new terms are set.
OCTM
From its price on Nov 4, 2026, the fund can gain about 7.0% more before it reaches its cap. The fund's price can fall 1.2% 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: 100.0% of the 100.0% 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.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
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, NVBU against OCTM, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/nvbu-vs-octm
ETFIQ. (Nov 4, 2026). NVBU against OCTM. Retrieved from https://etfiq.com/compare/buffer/nvbu-vs-octm
[NVBU against OCTM (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/nvbu-vs-octm)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.