FEBW vs. IVVM
FEBW (Allianzim U.S. Large Cap Buffer20 Feb ETF) and IVVM (iShares Large Cap Moderate Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, FEBW returned 13.16% vs 15.78% for IVVM. Their correlation of 0.86 suggests significant overlap in exposure. FEBW charges 0.74%/yr vs 0.50%/yr for IVVM.
Performance
FEBW vs. IVVM - Performance Comparison
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Returns By Period
In the year-to-date period, FEBW achieves a 4.48% return, which is significantly lower than IVVM's 6.01% return.
FEBW
- 1D
- -0.12%
- 1M
- 0.34%
- YTD
- 4.48%
- 6M
- 4.67%
- 1Y
- 13.16%
- 3Y*
- 10.76%
- 5Y*
- —
- 10Y*
- —
IVVM
- 1D
- -0.10%
- 1M
- 0.38%
- YTD
- 6.01%
- 6M
- 5.79%
- 1Y
- 15.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FEBW vs. IVVM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FEBW Allianzim U.S. Large Cap Buffer20 Feb ETF | 4.48% | 9.63% | 11.37% | 5.84% |
IVVM iShares Large Cap Moderate Buffer ETF | 6.01% | 14.24% | 16.08% | 5.17% |
Correlation
The correlation between FEBW and IVVM is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.86 |
The correlation between FEBW and IVVM has been stable across timeframes, ranging from 0.86 to 0.87 - a consistent structural relationship.
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Return for Risk
FEBW vs. IVVM — Risk / Return Rank
FEBW
IVVM
FEBW vs. IVVM - 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 Moderate Buffer ETF (IVVM). 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 | IVVM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.45 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 2.99 | +0.32 |
| Martin ratioReturn relative to average drawdown | 17.02 | 14.72 | +2.31 |
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Drawdowns
FEBW vs. IVVM - Drawdown Comparison
The maximum FEBW drawdown since its inception was -8.82%, smaller than the maximum IVVM drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for FEBW and IVVM.
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Drawdown Indicators
| FEBW | IVVM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.82% | -11.62% | +2.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.00% | -5.31% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -8.82% | — | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.16% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -0.91% | +0.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.07% | -0.30% |
Volatility
FEBW vs. IVVM - Volatility Comparison
The current volatility for Allianzim U.S. Large Cap Buffer20 Feb ETF (FEBW) is 1.41%, while iShares Large Cap Moderate Buffer ETF (IVVM) has a volatility of 1.77%. This indicates that FEBW experiences smaller price fluctuations and is considered to be less risky than IVVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FEBW | IVVM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.77% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.99% | 5.73% | -1.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.85% | 7.19% | -2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.30% | 9.59% | -3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.30% | 9.59% | -3.29% |
FEBW vs. IVVM - Expense Ratio Comparison
FEBW has a 0.74% expense ratio, which is higher than IVVM's 0.50% expense ratio.
Dividends
FEBW vs. IVVM - Dividend Comparison
FEBW has not paid dividends to shareholders, while IVVM's dividend yield for the trailing twelve months is around 0.64%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
FEBW Allianzim U.S. Large Cap Buffer20 Feb ETF | 0.00% | 0.00% | 0.14% |
IVVM iShares Large Cap Moderate Buffer ETF | 0.64% | 0.68% | 0.62% |
Frequently Asked Questions
FEBW and IVVM 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.
IVVM has higher volatility (1.77%) compared to FEBW (1.41%). In terms of maximum drawdown, FEBW dropped -8.82% vs IVVM's -11.62%.
On 1-year performance, IVVM leads with 15.78% vs 13.16% for FEBW. On fees, IVVM 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.
Over the 1-year period, IVVM has performed better with a 15.78% return vs 13.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVM is cheaper with a 0.50% expense ratio, compared with 0.74% for FEBW.
IVVM has the higher dividend yield at 0.64%, compared with 0.00% for FEBW.
They also come from different issuers: Allianz and iShares. Their fees differ too: 0.74% for FEBW and 0.50% for IVVM.
FEBW currently has the higher Sharpe Ratio (2.73 vs 2.21), 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.
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