MART vs. FEBU

Last updated Jun 24, 2026

MART (Allianzim U.S. Large Cap Buffer10 Mar ETF) and FEBU (AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF) are both exchange-traded funds - MART is a Options Trading fund actively managed by Allianz, while FEBU is a Defined Outcome fund actively managed by Allianz. Both are actively managed. Over the past year, MART returned 17.70% vs 16.85% for FEBU. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

MART vs. FEBU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap Buffer10 Mar ETF (MART) and AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MART achieves a 7.12% return, which is significantly higher than FEBU's 6.09% return.

MART

• 1D: -0.75%
• 1M: -0.26%
• YTD: 7.12%
• 6M: 7.01%
• 1Y: 17.70%
• 3Y*: 15.49%
• 5Y*: —
• 10Y*: —

FEBU

• 1D: -0.88%
• 1M: -0.99%
• YTD: 6.09%
• 6M: 5.20%
• 1Y: 16.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MART vs. FEBU - Yearly Performance Comparison

	2026 (YTD)	2025
MART Allianzim U.S. Large Cap Buffer10 Mar ETF	7.12%	12.66%
FEBU AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	6.09%	10.69%

Correlation

The correlation between MART and FEBU is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	0.95

The correlation between MART and FEBU has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

MART vs. FEBU — Risk / Return Rank

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

MART

MART Risk / Return Rank: 84
MART Sharpe Ratio Rank: 84
MART Sortino Ratio Rank: 87
MART Omega Ratio Rank: 88
MART Calmar Ratio Rank: 72
MART Martin Ratio Rank: 89

FEBU

FEBU Risk / Return Rank: 58
FEBU Sharpe Ratio Rank: 56
FEBU Sortino Ratio Rank: 54
FEBU Omega Ratio Rank: 54
FEBU Calmar Ratio Rank: 62
FEBU Martin Ratio Rank: 64

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.

MART vs. FEBU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap Buffer10 Mar ETF (MART) and AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU). 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.

	MART	FEBU	Difference
Sharpe ratio: Return per unit of total volatility	2.47	1.72	+0.75
Sortino ratio: Return per unit of downside risk	3.59	2.37	+1.22
Omega ratio: Gain probability vs. loss probability	1.50	1.31	+0.19
Calmar ratio: Return relative to maximum drawdown	3.35	2.83	+0.53
Martin ratio: Return relative to average drawdown	18.30	10.45	+7.85

MART vs. FEBU - Sharpe Ratio Comparison

The current MART Sharpe Ratio is 2.47, which is higher than the FEBU Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of MART and FEBU, 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

MART vs. FEBU - Drawdown Comparison

The maximum MART drawdown since its inception was -11.61%, roughly equal to the maximum FEBU drawdown of -11.73%. Use the drawdown chart below to compare losses from any high point for MART and FEBU.

Drawdown Indicators

	MART	FEBU	Difference
Max Drawdown Largest peak-to-trough decline	-11.61%	-11.73%	+0.12%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-5.99%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-11.61%	—	—
Current Drawdown Current decline from peak	-1.31%	-2.52%	+1.21%
Average Drawdown Average peak-to-trough decline	-0.90%	-1.89%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	1.62%	-0.65%

Volatility

MART vs. FEBU - Volatility Comparison

The current volatility for Allianzim U.S. Large Cap Buffer10 Mar ETF (MART) is 2.35%, while AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (FEBU) has a volatility of 3.69%. This indicates that MART experiences smaller price fluctuations and is considered to be less risky than FEBU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MART	FEBU	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	3.69%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	5.97%	7.43%	-1.46%
Volatility (1Y) Calculated over the trailing 1-year period	7.24%	9.88%	-2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.69%	11.62%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.69%	11.62%	-1.93%

MART vs. FEBU - Expense Ratio Comparison

Both MART and FEBU have an expense ratio of 0.74%.

Dividends

MART vs. FEBU - Dividend Comparison

Neither MART nor FEBU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MART and FEBU in my portfolio?

With a correlation of 0.95, MART and FEBU 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, MART or FEBU?

FEBU has higher volatility (3.69%) compared to MART (2.35%). In terms of maximum drawdown, MART dropped -11.61% vs FEBU's -11.73%.

Which ETF is better, MART or FEBU?

On 1-year performance, MART leads with 17.70% vs 16.85% for FEBU. Both ETFs have the same 0.74% expense ratio. On volatility, MART has been the lower-risk option at 2.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MART or FEBU?

Over the 1-year period, MART has performed better with a 17.70% return vs 16.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MART or FEBU?

MART and FEBU have the same expense ratio: 0.74% per year.

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

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

What is the main difference between MART and FEBU?

MART is categorized as Options Trading, while FEBU is Defined Outcome.

Which has better risk-adjusted returns?

MART currently has the higher Sharpe Ratio (2.47 vs 1.72), 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.