FEBW vs. IVVB

Last updated Aug 2, 2026

FEBW (Allianzim U.S. Large Cap Buffer20 Feb ETF) and IVVB (iShares Large Cap Deep Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past 3 years, FEBW returned 10.21%/yr vs 11.17%/yr for IVVB. Their correlation of 0.86 means they have usually moved in the same direction. FEBW charges 0.74%/yr vs 0.50%/yr for IVVB.

Performance

FEBW vs. IVVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap Buffer20 Feb ETF (FEBW) 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, FEBW achieves a 5.26% return, which is significantly higher than IVVB's 4.99% return.

FEBW

• 1D: 0.17%
• 1M: 0.62%
• 6M: 4.33%
• YTD: 5.26%
• 1Y: 11.40%
• 3Y*: 10.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.78%

IVVB

• 1D: 0.62%
• 1M: 0.35%
• 6M: 3.77%
• YTD: 4.99%
• 1Y: 12.56%
• 3Y*: 11.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.56%

*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)
FEBW Allianzim U.S. Large Cap Buffer20 Feb ETF	$262.33K	$241.63K	$322.67K
IVVB iShares Large Cap Deep Buffer ETF	$448.03K	$518.51K	$884.48K

FEBW vs. IVVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FEBW Allianzim U.S. Large Cap Buffer20 Feb ETF	5.26%	9.63%	11.37%	5.84%
IVVB iShares Large Cap Deep Buffer ETF	4.99%	9.60%	18.66%	2.64%

Correlation

The correlation between FEBW and IVVB is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.86

The correlation between FEBW and IVVB has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.

Return for Risk

FEBW vs. IVVB — Risk / Return Rank

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

FEBW

FEBW Risk / Return Rank: 86
FEBW Sharpe Ratio Rank: 88
FEBW Sortino Ratio Rank: 89
FEBW Omega Ratio Rank: 91
FEBW Calmar Ratio Rank: 75
FEBW Martin Ratio Rank: 88

IVVB

IVVB Risk / Return Rank: 64
IVVB Sharpe Ratio Rank: 65
IVVB Sortino Ratio Rank: 64
IVVB Omega Ratio Rank: 64
IVVB Calmar Ratio Rank: 57
IVVB Martin Ratio Rank: 69

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.

FEBW vs. IVVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap Buffer20 Feb ETF (FEBW) 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.

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.

	FEBW	IVVB	Difference
Sharpe ratio: Return per unit of total volatility	2.15	1.50	+0.65
Sortino ratio: Return per unit of downside risk	3.11	2.11	+1.00
Omega ratio: Gain probability vs. loss probability	1.43	1.27	+0.16
Calmar ratio: Return relative to maximum drawdown	2.67	2.01	+0.66
Martin ratio: Return relative to average drawdown	13.59	8.40	+5.19

FEBW vs. IVVB - Sharpe Ratio Comparison

The current FEBW Sharpe Ratio is 2.15, which is higher than the IVVB Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FEBW 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.

Drawdowns

FEBW vs. IVVB - Drawdown Comparison

The maximum FEBW drawdown since its inception was -8.82%, smaller than the maximum IVVB drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for FEBW and IVVB.

Drawdown Indicators

	FEBW	IVVB	Difference
Max Drawdown Largest peak-to-trough decline	-8.82%	-13.08%	+4.26%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-5.75%	+1.75%
Max Drawdown (3Y) Largest decline over 3 years	-8.82%	-13.08%	+4.26%
Current Drawdown Current decline from peak	-0.07%	-0.52%	+0.45%
Average Drawdown Average peak-to-trough decline	-0.66%	-1.55%	+0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	1.37%	-0.59%

Volatility

FEBW vs. IVVB - Volatility Comparison

The current volatility for Allianzim U.S. Large Cap Buffer20 Feb ETF (FEBW) is 1.41%, while iShares Large Cap Deep Buffer ETF (IVVB) has a volatility of 2.39%. This indicates that FEBW experiences smaller price fluctuations and is considered to be less risky than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEBW	IVVB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.39%	-0.98%
Volatility (6M) Calculated over the trailing 6-month period	4.18%	5.46%	-1.28%
Volatility (1Y) Calculated over the trailing 1-year period	4.95%	7.70%	-2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	9.19%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.25%	9.19%	-2.94%

FEBW vs. IVVB - Expense Ratio Comparison

FEBW has a 0.74% expense ratio, which is higher than IVVB's 0.50% expense ratio.

Dividends

FEBW vs. IVVB - Dividend Comparison

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

Position	TTM	2025	2024
FEBW Allianzim U.S. Large Cap Buffer20 Feb ETF	0.00%	0.00%	0.14%
IVVB iShares Large Cap Deep Buffer ETF	1.17%	1.22%	0.87%

Frequently Asked Questions

Can I hold both FEBW and IVVB in my portfolio?

FEBW and IVVB have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEBW or IVVB?

IVVB has higher volatility (2.39%) compared to FEBW (1.41%). In terms of maximum drawdown, FEBW dropped -8.82% vs IVVB's -13.08%.

Which ETF is better, FEBW or IVVB?

On 3-year performance, IVVB leads with 11.17% vs 10.21% for FEBW. On fees, IVVB is cheaper at 0.50% per year. On volatility, FEBW has been the lower-risk option at 1.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEBW or IVVB?

Over the 3-year period, IVVB has performed better with a 11.17% return vs 10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEBW or IVVB?

IVVB is cheaper with a 0.50% expense ratio, compared with 0.74% for FEBW.

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

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

What is the main difference between FEBW and IVVB?

They also come from different issuers: Allianz and iShares. Their fees differ too: 0.74% for FEBW and 0.50% for IVVB.

Which has better risk-adjusted returns?

FEBW currently has the higher Sharpe Ratio (2.15 vs 1.50), 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.