FEBU vs. FBUF

Last updated Aug 1, 2026

FEBU (AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF) and FBUF (Fidelity Dynamic Buffered Equity ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, FEBU returned 14.95% vs 18.24% for FBUF. Their correlation of 0.93 means they have usually moved in the same direction. FEBU charges 0.74%/yr vs 0.48%/yr for FBUF.

Performance

FEBU vs. FBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) and Fidelity Dynamic Buffered Equity ETF (FBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FEBU having a 6.95% return and FBUF slightly higher at 7.24%.

FEBU

• 1D: 0.69%
• 1M: 0.09%
• 6M: 5.67%
• YTD: 6.95%
• 1Y: 14.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.02%

FBUF

• 1D: 0.75%
• 1M: 2.45%
• 6M: 5.84%
• YTD: 7.24%
• 1Y: 18.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBUF Fidelity Dynamic Buffered Equity ETF	$219.76K	$192.41K	$264.91K
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	$35.68K	$44.43K	$83.16K

FEBU vs. FBUF - Yearly Performance Comparison

	2026 (YTD)	2025
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	6.95%	10.69%
FBUF Fidelity Dynamic Buffered Equity ETF	7.24%	11.95%

Correlation

The correlation between FEBU and FBUF is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	0.93

The correlation between FEBU and FBUF has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

FEBU vs. FBUF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FEBU

FEBU Risk / Return Rank: 58
FEBU Sharpe Ratio Rank: 56
FEBU Sortino Ratio Rank: 53
FEBU Omega Ratio Rank: 53
FEBU Calmar Ratio Rank: 65
FEBU Martin Ratio Rank: 65

FBUF

FBUF Risk / Return Rank: 84
FBUF Sharpe Ratio Rank: 85
FBUF Sortino Ratio Rank: 82
FBUF Omega Ratio Rank: 86
FBUF Calmar Ratio Rank: 82
FBUF Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FEBU vs. FBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) and Fidelity Dynamic Buffered Equity ETF (FBUF). 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.

	FEBU	FBUF	Difference
Sharpe ratio: Return per unit of total volatility	1.35	1.98	-0.63
Sortino ratio: Return per unit of downside risk	1.89	2.67	-0.78
Omega ratio: Gain probability vs. loss probability	1.24	1.38	-0.14
Calmar ratio: Return relative to maximum drawdown	2.29	3.01	-0.72
Martin ratio: Return relative to average drawdown	7.87	12.57	-4.70

FEBU vs. FBUF - Sharpe Ratio Comparison

The current FEBU Sharpe Ratio is 1.35, which is lower than the FBUF Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of FEBU and FBUF, 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

FEBU vs. FBUF - Drawdown Comparison

The maximum FEBU drawdown since its inception was -11.73%, which is greater than FBUF's maximum drawdown of -11.09%. Use the drawdown chart below to compare losses from any high point for FEBU and FBUF.

Drawdown Indicators

	FEBU	FBUF	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-11.09%	-0.64%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-5.61%	-0.38%
Current Drawdown Current decline from peak	-1.73%	0.00%	-1.73%
Average Drawdown Average peak-to-trough decline	-1.89%	-1.34%	-0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	1.34%	+0.40%

Volatility

FEBU vs. FBUF - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) and Fidelity Dynamic Buffered Equity ETF (FBUF) have volatilities of 2.92% and 2.85%, 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

	FEBU	FBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	2.85%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	6.38%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	10.18%	8.52%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.48%	9.66%	+1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.48%	9.66%	+1.82%

FEBU vs. FBUF - Expense Ratio Comparison

FEBU has a 0.74% expense ratio, which is higher than FBUF's 0.48% expense ratio.

Dividends

FEBU vs. FBUF - Dividend Comparison

FEBU has not paid dividends to shareholders, while FBUF's dividend yield for the trailing twelve months is around 0.58%.

Position	TTM	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	0.58%	0.64%	0.54%
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEBU and FBUF in my portfolio?

With a correlation of 0.92, FEBU and FBUF 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, FEBU or FBUF?

FEBU has higher volatility (2.92%) compared to FBUF (2.85%). In terms of maximum drawdown, FEBU dropped -11.73% vs FBUF's -11.09%.

Which ETF is better, FEBU or FBUF?

On 1-year performance, FBUF leads with 18.24% vs 14.95% for FEBU. On fees, FBUF is cheaper at 0.48% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEBU or FBUF?

Over the 1-year period, FBUF has performed better with a 18.24% return vs 14.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEBU or FBUF?

FBUF is cheaper with a 0.48% expense ratio, compared with 0.74% for FEBU.

Which ETF pays a higher dividend yield, FEBU or FBUF?

FBUF has the higher dividend yield at 0.58%, compared with 0.00% for FEBU.

What is the main difference between FEBU and FBUF?

They also come from different issuers: Allianz and Fidelity. Their fees differ too: 0.74% for FEBU and 0.48% for FBUF.

Which has better risk-adjusted returns?

FBUF currently has the higher Sharpe Ratio (1.98 vs 1.35), 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.