ARLU vs. NVBT

Last updated Jun 5, 2026

ARLU (Allianzim U.S. Equity Buffer15 Uncapped Apr ETF) and NVBT (Allianzim U.S. Large Cap Buffer10 Nov ETF) are both Options Trading funds from Allianz. Both are actively managed. Over the past year, ARLU returned 19.57% vs 18.88% for NVBT. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

ARLU vs. NVBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU) and Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARLU achieves a 6.62% return, which is significantly lower than NVBT's 7.83% return.

ARLU

• 1D: 0.20%
• 1M: 3.91%
• YTD: 6.62%
• 6M: 6.46%
• 1Y: 19.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVBT

• 1D: 0.24%
• 1M: 2.95%
• YTD: 7.83%
• 6M: 8.17%
• 1Y: 18.88%
• 3Y*: 13.11%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARLU vs. NVBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ARLU Allianzim U.S. Equity Buffer15 Uncapped Apr ETF	6.62%	11.27%	9.00%
NVBT Allianzim U.S. Large Cap Buffer10 Nov ETF	7.83%	12.84%	7.42%

Correlation

The correlation between ARLU and NVBT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.92

The correlation between ARLU and NVBT has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

ARLU vs. NVBT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARLU

ARLU Risk / Return Rank: 50
ARLU Sharpe Ratio Rank: 52
ARLU Sortino Ratio Rank: 50
ARLU Omega Ratio Rank: 53
ARLU Calmar Ratio Rank: 42
ARLU Martin Ratio Rank: 54

NVBT

NVBT Risk / Return Rank: 76
NVBT Sharpe Ratio Rank: 76
NVBT Sortino Ratio Rank: 79
NVBT Omega Ratio Rank: 81
NVBT Calmar Ratio Rank: 62
NVBT Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARLU vs. NVBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU) and Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARLU	NVBT	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.43	-0.67
Sortino ratio: Return per unit of downside risk	2.42	3.50	-1.07
Omega ratio: Gain probability vs. loss probability	1.32	1.48	-0.16
Calmar ratio: Return relative to maximum drawdown	2.03	3.06	-1.02
Martin ratio: Return relative to average drawdown	9.11	15.23	-6.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARLU vs. NVBT - Sharpe Ratio Comparison

The current ARLU Sharpe Ratio is 1.77, which is comparable to the NVBT Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of ARLU and NVBT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ARLU	NVBT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.43	-0.67
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.34	-0.34

Drawdowns

ARLU vs. NVBT - Drawdown Comparison

The maximum ARLU drawdown since its inception was -15.38%, which is greater than NVBT's maximum drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for ARLU and NVBT.

Drawdown Indicators

	ARLU	NVBT	Difference
Max Drawdown Largest peak-to-trough decline	-15.38%	-12.90%	-2.48%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-6.21%	-3.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.90%	—
Current Drawdown Current decline from peak	-0.34%	-0.05%	-0.29%
Average Drawdown Average peak-to-trough decline	-2.23%	-1.35%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.24%	+0.91%

Volatility

ARLU vs. NVBT - Volatility Comparison

Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU) has a higher volatility of 2.56% compared to Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) at 1.47%. This indicates that ARLU's price experiences larger fluctuations and is considered to be riskier than NVBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARLU	NVBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	1.47%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	8.73%	6.32%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	11.12%	7.79%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.55%	10.32%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.55%	10.32%	+2.23%

ARLU vs. NVBT - Expense Ratio Comparison

Both ARLU and NVBT have an expense ratio of 0.74%.

Dividends

ARLU vs. NVBT - Dividend Comparison

Neither ARLU nor NVBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ARLU and NVBT in my portfolio?

With a correlation of 0.96, ARLU and NVBT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ARLU or NVBT?

ARLU has higher volatility (2.56%) compared to NVBT (1.47%). In terms of maximum drawdown, ARLU dropped -15.38% vs NVBT's -12.90%.

Which ETF is better, ARLU or NVBT?

On 1-year performance, ARLU leads with 19.57% vs 18.88% for NVBT. Both ETFs have the same 0.74% expense ratio. On volatility, NVBT has been the lower-risk option at 1.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARLU or NVBT?

Over the 1-year period, ARLU has performed better with a 19.57% return vs 18.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARLU or NVBT?

ARLU and NVBT have the same expense ratio: 0.74% per year.

Which ETF pays a higher dividend yield, ARLU or NVBT?

ARLU and NVBT have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

NVBT currently has the higher Sharpe Ratio (2.43 vs 1.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.