DECU vs. NVBU

Last updated Jun 23, 2026

DECU (AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF) and NVBU (AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF) are both Defined Outcome funds from AllianzIM. Both are actively managed. Over the past year, DECU returned 17.35% vs 19.35% for NVBU. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.74% expense ratio.

Performance

DECU vs. NVBU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF (DECU) and AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (NVBU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with DECU at 6.35% and NVBU at 6.35%.

DECU

• 1D: -0.41%
• 1M: -0.33%
• YTD: 6.35%
• 6M: 6.35%
• 1Y: 17.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVBU

• 1D: -0.37%
• 1M: -0.11%
• YTD: 6.35%
• 6M: 6.16%
• 1Y: 19.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DECU vs. NVBU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DECU AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF	6.35%	11.52%	-2.03%
NVBU AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF	6.35%	13.27%	-2.26%

Correlation

The correlation between DECU and NVBU 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 Dec 2, 2024	0.97

The correlation between DECU and NVBU has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

DECU vs. NVBU — Risk / Return Rank

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

DECU

DECU Risk / Return Rank: 58
DECU Sharpe Ratio Rank: 56
DECU Sortino Ratio Rank: 54
DECU Omega Ratio Rank: 55
DECU Calmar Ratio Rank: 64
DECU Martin Ratio Rank: 62

NVBU

NVBU Risk / Return Rank: 67
NVBU Sharpe Ratio Rank: 63
NVBU Sortino Ratio Rank: 62
NVBU Omega Ratio Rank: 63
NVBU Calmar Ratio Rank: 73
NVBU Martin Ratio Rank: 75

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.

DECU vs. NVBU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF (DECU) and AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (NVBU). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DECU	NVBU	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.03	-0.18
Sortino ratio: Return per unit of downside risk	2.54	2.82	-0.29
Omega ratio: Gain probability vs. loss probability	1.33	1.37	-0.03
Calmar ratio: Return relative to maximum drawdown	3.08	3.61	-0.53
Martin ratio: Return relative to average drawdown	10.98	13.72	-2.74

DECU vs. NVBU - Sharpe Ratio Comparison

The current DECU Sharpe Ratio is 1.85, which is comparable to the NVBU Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DECU and NVBU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DECU vs. NVBU - Drawdown Comparison

The maximum DECU drawdown since its inception was -10.66%, smaller than the maximum NVBU drawdown of -11.97%. Use the drawdown chart below to compare losses from any high point for DECU and NVBU.

Drawdown Indicators

	DECU	NVBU	Difference
Max Drawdown Largest peak-to-trough decline	-10.66%	-11.97%	+1.31%
Max Drawdown (1Y) Largest decline over 1 year	-5.65%	-5.38%	-0.27%
Current Drawdown Current decline from peak	-1.75%	-1.70%	-0.05%
Average Drawdown Average peak-to-trough decline	-1.73%	-1.78%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.41%	+0.17%

Volatility

DECU vs. NVBU - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF (DECU) and AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (NVBU) have volatilities of 3.71% and 3.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DECU	NVBU	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	3.61%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	6.92%	6.76%	+0.16%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	9.57%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.77%	11.19%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.77%	11.19%	-0.42%

DECU vs. NVBU - Expense Ratio Comparison

Both DECU and NVBU have an expense ratio of 0.74%.

Dividends

DECU vs. NVBU - Dividend Comparison

Neither DECU nor NVBU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DECU and NVBU in my portfolio?

With a correlation of 0.96, DECU and NVBU 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, DECU or NVBU?

DECU has higher volatility (3.71%) compared to NVBU (3.61%). In terms of maximum drawdown, DECU dropped -10.66% vs NVBU's -11.97%.

Which ETF is better, DECU or NVBU?

On 1-year performance, NVBU leads with 19.35% vs 17.35% for DECU. Both ETFs have the same 0.74% expense ratio. On volatility, NVBU has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DECU or NVBU?

Over the 1-year period, NVBU has performed better with a 19.35% return vs 17.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DECU or NVBU?

DECU and NVBU have the same expense ratio: 0.74% per year.

Which ETF pays a higher dividend yield, DECU or NVBU?

DECU and NVBU have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

NVBU currently has the higher Sharpe Ratio (2.03 vs 1.85), 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.