Data as of Nov 4, 2026.
OCTM vs PBNV: Cap, Buffer & Days Left
As of Nov 4, 2026 OCTM can fall 1.2% before its buffer engages and PBNV 1.2%, and OCTM resets 16 days sooner.
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Net assets: $42m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - October, and $42m on Nov 4, 2026 for PGIM S&P 500 Buffer 20 ETF - November .
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.PBNV: 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.
PBNV: 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
PBNV costs 0.35 points a year less; their one-year returns differ by 4.9 points; OCTM is 1.1 times larger.
Points (pts) are percentage points.
| Measure | OCTM | PBNV |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.3% | +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% | 0.50% |
| Net assets, as of Nov 3, 2026 | $42m | $37m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | OCTM | PBNV | OCTM | PBNV |
| 3 months | +1.6% | +2.6% | +1.9 pts | +3.0 pts |
| 6 months | +3.1% | +5.7% | −1.4 pts | +1.2 pts |
| 1 year | +6.3% | +11.2% | −7.3 pts | −2.4 pts |
| Since launchNot the same days: OCTM Oct 2024 · PBNV May 2024 | +13.2% | +29.2% | −18.1 pts | −15.5 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. PBNV 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; PBNV runs to Oct 31, 2027, 361 days. OCTM can still gain 7.0% before its cap, PBNV 11.5%. A fall from here reaches OCTM’s buffer after 1.2% and PBNV’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.
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.
PBNV
From its price on Nov 4, 2026, the fund can gain about 11.5% more before it reaches its cap. 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
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, OCTM against PBNV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/octm-vs-pbnv
ETFIQ. (Nov 4, 2026). OCTM against PBNV. Retrieved from https://etfiq.com/compare/buffer/octm-vs-pbnv
[OCTM against PBNV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/octm-vs-pbnv)
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