Data as of .
NVBW vs OCTM: which one stands where?
As of Sep 21, 2026 NVBW can fall 9.2% before its buffer engages and OCTM 6.2%, and OCTM resets 15 days sooner.
ETFIQ Downside Cover Score: OCTM 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
OCTM resets first, on Oct 16, 2026, 25 days from now; NVBW runs to Oct 31, 2026, 40 days. NVBW can still gain 1.3% before its cap, OCTM 0.4%. A fall from here reaches NVBW’s buffer after 9.2% and OCTM’s after 6.2%. 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 | ||
|---|---|---|---|---|
| NVBW | OCTM | NVBW | OCTM | |
| 3 months | +2.5% | +1.7% | +0.3 pts | −0.6 pts |
| 6 months | +9.8% | +5.1% | −8.2 pts | −12.9 pts |
| 1 year | +9.8% | +6.3% | −6.7 pts | −10.3 pts |
| 3 years | +29.1% | not published | −49.3 pts | not published |
| NVBW AllianzIM U.S. Equity Buffer20 ETF - Nov Absorbs the first 20% of loss on SPY and caps the gain at 11.4%, over a period ending Oct 31, 2026 | OCTM FT Vest U.S. Equity Max Buffer ETF - October Absorbs the first 44% of loss on SPY and caps the gain at 7.0%, over a period ending Oct 16, 2026 | |
|---|---|---|
| Issuer | AllianzIM | First Trust |
| Reference index | SPY | SPY |
| Buffer | 20% | 44% |
| Outcome period | Nov 1, 2025 to Oct 31, 2026 | Oct 20, 2025 to Oct 16, 2026 |
| Days left | 40 | 25 |
| Starting cap | +11.4% | +7.0% |
| Can still gain | 1.3% | 0.4% |
| Fall before buffer | 9.2% | 6.2% |
| Protection left, index points | 20.0% of 20.0% | 43.7% of 43.7% |
| Index return this period | +13.5% | +16.5% |
| Fund return this period | +9.2% | +5.7% |
| State today | At cap | At cap |
| Expense ratio | 0.74% | 0.85% |
| Net assets | $97m | $32m |
NVBW in plain words
SPY had already risen past this fund's cap of +11.4% 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 1.3% as the period runs out. The fund's price can fall 9.2% 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: 20.0% of the 20.0% 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.
OCTM in plain words
SPY had already risen past this fund's cap of +7.0% 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 0.4% as the period runs out. The fund's price can fall 6.2% 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: 43.7% of the 43.7% 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.
Questions people ask
- Which has more room to gain, NVBW or OCTM?
- From their prices on Sep 21, 2026, NVBW can gain about 1.3% before its cap and OCTM about 0.4%, so NVBW has more room left this period.
- Which resets first, NVBW or OCTM?
- NVBW ends its outcome period on Oct 31, 2026 and OCTM on Oct 16, 2026. A new cap is set the day after each.
- Which is cheaper, NVBW or OCTM?
- NVBW charges 0.74% a year and OCTM charges 0.85%, so NVBW 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, NVBW against OCTM, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/nvbw-vs-octm Free to use with attribution; the underlying files are at Open data.