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Data as of Nov 4, 2026.

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Buffer ETFs

PBNV vs SIXZ: Cap, Buffer & Days Left

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As of Nov 4, 2026 SIXZ can fall 1.2% before its buffer engages and PBNV 1.2%, and SIXZ resets 184 days sooner.

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Net assets: $42m on Nov 4, 2026 for PGIM S&P 500 Buffer 20 ETF - November , and $64m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - May.

PBNV on its own →SIXZ on its own →
At a glance
1.2%
PBNV can fall this far before its buffer
1.2%
SIXZ can fall this far before its buffer
11.5%
PBNV can still gain
7.0%
SIXZ can still gain
PBNV Between buffer and cap
Between buffer and capPBNV: reference +1.5% since period start, fund +0.7%; buffer 0 to −20; cap +12.7%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer+11.3% more to the cap−20.0% floor0% period start+12.7% cap+1.5% gain capturedTODAY · SPY +1.5%Between buffer and capPBNV: reference +1.5% since period start, fund +0.7%; buffer 0 to −20; cap +12.7%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer−20.0% floor0% start+12.7% cap+1.5% gain captured+11.3% more to the capTODAY · SPY +1.5%

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.
SIXZ Between buffer and cap
Between buffer and capSIXZ: reference +1.5% since period start, fund +0.9%; buffer 0 to −10; cap +8.3%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+6.9% to cap−10.0% floor0% period start+8.3% cap+1.5% gain capturedTODAY · SPY +1.5%Between buffer and capSIXZ: reference +1.5% since period start, fund +0.9%; buffer 0 to −10; cap +8.3%; Between buffer and cap. Data to Nov 4, 2026.10 pts−10.0% floor0% start+8.3% cap+1.5% gain captured+6.9% more to the capTODAY · SPY +1.5%

SIXZ: reference +1.5% since period start, fund +0.9%; buffer 0 to −10; cap +8.3%; Between buffer and cap. Data to Nov 4, 2026.

SIXZ: reference +1.5% since period start, fund +0.9%; buffer 0 to −10; cap +8.3%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PBNV costs 0.24 points a year less; their one-year returns differ by 0.2 points; SIXZ is 1.7 times larger.

Points (pts) are percentage points.

PBNV vs SIXZ: Cap, Buffer & Days Left
MeasurePBNVSIXZ
Return
Total return, 1 year+11.2%+11.4%
Drawdown
Index fall to the buffer1.4%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.74%
Net assets, as of Nov 3, 2026$37m$64m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PBNV scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score97.4PBNV38.7SIXZ

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

0.3, the lowest in this set 99.7, the highest

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 →

Method

Window by window

Window by window: PBNV vs SIXZ: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowPBNVSIXZPBNVSIXZ
3 months+2.6%+2.3%+3.0 pts+2.7 pts
6 months+5.7%+4.7%+1.2 pts+0.2 pts
1 year+11.2%+11.4%−2.4 pts−2.1 pts
Since launchNot the same days: PBNV May 2024 · SIXZ May 2024+29.2%+30.2%−15.5 pts−23.1 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

PBNV PGIM S&P 500 Buffer 20 ETF - November · Absorbs the first 20% of loss on SPY and caps the gain at 12.7%, over a period ending Oct 31, 2027 SIXZ AllianzIM U.S. Equity Buffer10 ETF - May · Absorbs the first 10% of loss on SPY and caps the gain at 8.3%, over a period ending Apr 30, 2027
Issuer PGIM AllianzIM
Reference index SPY SPY
Buffer 20% 10%
Outcome period Nov 1, 2026 to Oct 31, 2027 Nov 1, 2026 to Apr 30, 2027
Days left 361 177
Starting cap +12.7% +8.3%
Can still gain 11.5% 7.0%
Fall before buffer 1.2% 1.2%
Protection left, index points 20.0% of 20.0% 10.0% of 10.0%
Index return this period +1.5% +1.5%
Fund return this period +0.7% +0.9%
State today Open Open
Expense ratio 0.50% 0.74%
Net assets, PBNV as of Nov 4, 2026 and SIXZ as of Nov 3, 2026 $42m $64m

As of Nov 4, 2026. Source: ETFIQ.

They do not reset together. SIXZ has 177 days of its period left and PBNV has 361, so the two are not the same bet on the same months.

Where each one stands today

SIXZ resets first, on Apr 30, 2027, 177 days from now; PBNV runs to Oct 31, 2027, 361 days. PBNV can still gain 11.5% before its cap, SIXZ 7.0%. A fall from here reaches PBNV’s buffer after 1.2% and SIXZ’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
PBNV

From its price on Nov 4, 2026, the fund can gain about 11.5% 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 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.

SIXZ

From its price on Nov 4, 2026, the fund can gain about 7.0% more before it reaches its cap. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 177 days remained on Nov 4, 2026. On Apr 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, PBNV or SIXZ?
From their prices on Nov 4, 2026, PBNV can gain about 11.5% before its cap and SIXZ about 7.0%, so PBNV has more room left this period.
Which resets first, PBNV or SIXZ?
PBNV ends its outcome period on Oct 31, 2027 and SIXZ on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, PBNV or SIXZ?
PBNV charges 0.50% a year and SIXZ charges 0.74%, so PBNV is cheaper. Fees come from each fund's prospectus.
Other comparisons
PBNV vs XOCTPBNV vs UNOVPBNV vs DDTNPBNV vs ZNOVSIXZ vs OCTMSIXZ vs APXMSIXZ vs NVBWSIXZ vs BNOV
Where to next
SPDR S&P 500 ETF Trust →PBNV on its own →SIXZ on its own →Method →Standards and sources →
Sources and dates
PBNV filings on SEC EDGAR ↗
PGIM website ↗
SIXZ filings on SEC EDGAR ↗
AllianzIM page for SIXZ ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, PBNV against SIXZ, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pbnv-vs-sixz

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.