FEBU vs. TMAR

Last updated Jun 4, 2026

FEBU (AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF) and TMAR (FT Vest Emerging Markets Buffer ETF - March) are both Defined Outcome funds. FEBU is actively managed, while TMAR is passively managed. Over the past year, FEBU returned 19.90% vs 28.83% for TMAR. A 0.63 correlation means they provide meaningful diversification when combined. FEBU charges 0.74%/yr vs 0.95%/yr for TMAR.

Performance

FEBU vs. TMAR - 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 FT Vest Emerging Markets Buffer ETF - March (TMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEBU achieves a 8.26% return, which is significantly lower than TMAR's 14.45% return.

FEBU

• 1D: -0.52%
• 1M: 4.11%
• YTD: 8.26%
• 6M: 7.92%
• 1Y: 19.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TMAR

• 1D: -0.72%
• 1M: 2.73%
• YTD: 14.45%
• 6M: 15.92%
• 1Y: 28.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEBU vs. TMAR - Yearly Performance Comparison

	2026 (YTD)	2025
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	8.26%	13.22%
TMAR FT Vest Emerging Markets Buffer ETF - March	14.45%	14.71%

Correlation

The correlation between FEBU and TMAR is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.63

The correlation between FEBU and TMAR has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.

Return for Risk

FEBU vs. TMAR — Risk / Return Rank

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

FEBU

FEBU Risk / Return Rank: 67
FEBU Sharpe Ratio Rank: 66
FEBU Sortino Ratio Rank: 65
FEBU Omega Ratio Rank: 65
FEBU Calmar Ratio Rank: 68
FEBU Martin Ratio Rank: 70

TMAR

TMAR Risk / Return Rank: 94
TMAR Sharpe Ratio Rank: 90
TMAR Sortino Ratio Rank: 93
TMAR Omega Ratio Rank: 96
TMAR Calmar Ratio Rank: 95
TMAR Martin Ratio Rank: 96

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.

FEBU vs. TMAR - 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 FT Vest Emerging Markets Buffer ETF - March (TMAR). 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.

	FEBU	TMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.14	3.06	-0.92
Sortino ratio: Return per unit of downside risk	2.96	4.63	-1.68
Omega ratio: Gain probability vs. loss probability	1.39	1.77	-0.38
Calmar ratio: Return relative to maximum drawdown	3.34	7.95	-4.61
Martin ratio: Return relative to average drawdown	12.90	38.42	-25.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEBU vs. TMAR - Sharpe Ratio Comparison

The current FEBU Sharpe Ratio is 2.14, which is lower than the TMAR Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of FEBU and TMAR, 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

	FEBU	TMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	3.06	-0.92
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	2.25	-0.99

Drawdowns

FEBU vs. TMAR - Drawdown Comparison

The maximum FEBU drawdown since its inception was -11.73%, which is greater than TMAR's maximum drawdown of -9.93%. Use the drawdown chart below to compare losses from any high point for FEBU and TMAR.

Drawdown Indicators

	FEBU	TMAR	Difference
Max Drawdown Largest peak-to-trough decline	-11.73%	-9.93%	-1.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.99%	-3.64%	-2.35%
Current Drawdown Current decline from peak	-0.52%	-0.72%	+0.20%
Average Drawdown Average peak-to-trough decline	-1.89%	-0.66%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	0.75%	+0.80%

Volatility

FEBU vs. TMAR - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) is 2.53%, while FT Vest Emerging Markets Buffer ETF - March (TMAR) has a volatility of 4.53%. This indicates that FEBU experiences smaller price fluctuations and is considered to be less risky than TMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEBU	TMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	4.53%	-2.00%
Volatility (6M) Calculated over the trailing 6-month period	6.85%	8.17%	-1.32%
Volatility (1Y) Calculated over the trailing 1-year period	9.36%	9.47%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.47%	11.42%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.47%	11.42%	+0.05%

FEBU vs. TMAR - Expense Ratio Comparison

FEBU has a 0.74% expense ratio, which is lower than TMAR's 0.95% expense ratio.

Dividends

FEBU vs. TMAR - Dividend Comparison

Neither FEBU nor TMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FEBU and TMAR in my portfolio?

FEBU and TMAR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEBU or TMAR?

TMAR has higher volatility (4.53%) compared to FEBU (2.53%). In terms of maximum drawdown, FEBU dropped -11.73% vs TMAR's -9.93%.

Which ETF is better, FEBU or TMAR?

On 1-year performance, TMAR leads with 28.83% vs 19.90% for FEBU. On fees, FEBU is cheaper at 0.74% per year. On volatility, FEBU has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEBU or TMAR?

Over the 1-year period, TMAR has performed better with a 28.83% return vs 19.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEBU or TMAR?

FEBU is cheaper with a 0.74% expense ratio, compared with 0.95% for TMAR.

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

FEBU and TMAR have nearly identical dividend yields, around 0.00%.

What is the main difference between FEBU and TMAR?

They also come from different issuers: Allianz and First Trust. Their fees differ too: 0.74% for FEBU and 0.95% for TMAR.

Which has better risk-adjusted returns?

TMAR currently has the higher Sharpe Ratio (3.06 vs 2.14), 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.