FEBP vs. IVVB

Last updated Jun 5, 2026

FEBP (PGIM US Large-Cap Buffer 12 ETF - February) and IVVB (iShares Large Cap Deep Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, FEBP returned 18.66% vs 14.71% for IVVB. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.50% expense ratio.

Performance

FEBP vs. IVVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 12 ETF - February (FEBP) and iShares Large Cap Deep Buffer ETF (IVVB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEBP achieves a 7.00% return, which is significantly higher than IVVB's 4.66% return.

FEBP

• 1D: 0.20%
• 1M: 2.26%
• YTD: 7.00%
• 6M: 7.97%
• 1Y: 18.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IVVB

• 1D: 0.08%
• 1M: 1.64%
• YTD: 4.66%
• 6M: 4.54%
• 1Y: 14.71%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEBP vs. IVVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FEBP PGIM US Large-Cap Buffer 12 ETF - February	7.00%	12.06%	12.73%
IVVB iShares Large Cap Deep Buffer ETF	4.66%	9.60%	16.16%

Correlation

The correlation between FEBP and IVVB is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.89

The correlation between FEBP and IVVB has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

FEBP vs. IVVB — Risk / Return Rank

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

FEBP

FEBP Risk / Return Rank: 83
FEBP Sharpe Ratio Rank: 84
FEBP Sortino Ratio Rank: 87
FEBP Omega Ratio Rank: 88
FEBP Calmar Ratio Rank: 70
FEBP Martin Ratio Rank: 86

IVVB

IVVB Risk / Return Rank: 61
IVVB Sharpe Ratio Rank: 62
IVVB Sortino Ratio Rank: 62
IVVB Omega Ratio Rank: 65
IVVB Calmar Ratio Rank: 53
IVVB Martin Ratio Rank: 62

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.

FEBP vs. IVVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 12 ETF - February (FEBP) and iShares Large Cap Deep Buffer ETF (IVVB). 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.

	FEBP	IVVB	Difference
Sharpe ratio: Return per unit of total volatility	2.69	2.03	+0.66
Sortino ratio: Return per unit of downside risk	3.87	2.84	+1.03
Omega ratio: Gain probability vs. loss probability	1.54	1.39	+0.15
Calmar ratio: Return relative to maximum drawdown	3.43	2.57	+0.86
Martin ratio: Return relative to average drawdown	17.70	11.04	+6.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEBP vs. IVVB - Sharpe Ratio Comparison

The current FEBP Sharpe Ratio is 2.69, which is higher than the IVVB Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FEBP and IVVB, 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

	FEBP	IVVB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	2.03	+0.66
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	1.31	+0.23

Drawdowns

FEBP vs. IVVB - Drawdown Comparison

The maximum FEBP drawdown since its inception was -12.11%, smaller than the maximum IVVB drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for FEBP and IVVB.

Drawdown Indicators

	FEBP	IVVB	Difference
Max Drawdown Largest peak-to-trough decline	-12.11%	-13.08%	+0.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.47%	-5.75%	+0.28%
Current Drawdown Current decline from peak	-0.06%	-0.07%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.91%	-1.60%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	1.34%	-0.28%

Volatility

FEBP vs. IVVB - Volatility Comparison

PGIM US Large-Cap Buffer 12 ETF - February (FEBP) has a higher volatility of 1.39% compared to iShares Large Cap Deep Buffer ETF (IVVB) at 0.69%. This indicates that FEBP's price experiences larger fluctuations and is considered to be riskier than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEBP	IVVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	0.69%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	5.44%	5.49%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	6.96%	7.26%	-0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.98%	9.27%	-0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.98%	9.27%	-0.29%

FEBP vs. IVVB - Expense Ratio Comparison

Both FEBP and IVVB have an expense ratio of 0.50%.

Dividends

FEBP vs. IVVB - Dividend Comparison

FEBP has not paid dividends to shareholders, while IVVB's dividend yield for the trailing twelve months is around 1.17%.

Position	TTM	2025	2024
FEBP PGIM US Large-Cap Buffer 12 ETF - February	0.00%	0.00%	0.00%
IVVB iShares Large Cap Deep Buffer ETF	1.17%	1.22%	0.87%

Frequently Asked Questions

Can I hold both FEBP and IVVB in my portfolio?

FEBP and IVVB have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEBP or IVVB?

FEBP has higher volatility (1.39%) compared to IVVB (0.69%). In terms of maximum drawdown, FEBP dropped -12.11% vs IVVB's -13.08%.

Which ETF is better, FEBP or IVVB?

On 1-year performance, FEBP leads with 18.66% vs 14.71% for IVVB. Both ETFs have the same 0.50% expense ratio. On volatility, IVVB has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEBP or IVVB?

Over the 1-year period, FEBP has performed better with a 18.66% return vs 14.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEBP or IVVB?

FEBP and IVVB have the same expense ratio: 0.50% per year.

Which ETF pays a higher dividend yield, FEBP or IVVB?

IVVB has the higher dividend yield at 1.17%, compared with 0.00% for FEBP.

What is the main difference between FEBP and IVVB?

They also come from different issuers: PGIM and iShares.

Which has better risk-adjusted returns?

FEBP currently has the higher Sharpe Ratio (2.69 vs 2.03), 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.