NVBT vs. IVVM

Last updated Jun 24, 2026

NVBT (Allianzim U.S. Large Cap Buffer10 Nov ETF) and IVVM (iShares Large Cap Moderate Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, NVBT returned 16.41% vs 14.52% for IVVM. Their correlation of 0.88 suggests significant overlap in exposure. NVBT charges 0.74%/yr vs 0.50%/yr for IVVM.

Performance

NVBT vs. IVVM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) and iShares Large Cap Moderate Buffer ETF (IVVM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVBT achieves a 6.30% return, which is significantly higher than IVVM's 5.35% return.

NVBT

• 1D: -0.79%
• 1M: -0.33%
• YTD: 6.30%
• 6M: 5.72%
• 1Y: 16.41%
• 3Y*: 11.90%
• 5Y*: —
• 10Y*: —

IVVM

• 1D: -0.62%
• 1M: -0.24%
• YTD: 5.35%
• 6M: 4.81%
• 1Y: 14.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NVBT vs. IVVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NVBT Allianzim U.S. Large Cap Buffer10 Nov ETF	6.30%	12.84%	12.03%	3.37%
IVVM iShares Large Cap Moderate Buffer ETF	5.35%	14.24%	16.08%	5.17%

Correlation

The correlation between NVBT and IVVM is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.88

The correlation between NVBT and IVVM has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

NVBT vs. IVVM — Risk / Return Rank

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

NVBT

NVBT Risk / Return Rank: 69
NVBT Sharpe Ratio Rank: 69
NVBT Sortino Ratio Rank: 70
NVBT Omega Ratio Rank: 73
NVBT Calmar Ratio Rank: 58
NVBT Martin Ratio Rank: 75

IVVM

IVVM Risk / Return Rank: 68
IVVM Sharpe Ratio Rank: 66
IVVM Sortino Ratio Rank: 67
IVVM Omega Ratio Rank: 73
IVVM Calmar Ratio Rank: 59
IVVM Martin Ratio Rank: 76

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.

NVBT vs. IVVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) 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.

	NVBT	IVVM	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.03	+0.01
Sortino ratio: Return per unit of downside risk	2.90	2.90	0.00
Omega ratio: Gain probability vs. loss probability	1.39	1.41	-0.02
Calmar ratio: Return relative to maximum drawdown	2.66	2.75	-0.09
Martin ratio: Return relative to average drawdown	12.90	13.53	-0.63

NVBT vs. IVVM - Sharpe Ratio Comparison

The current NVBT Sharpe Ratio is 2.03, which is comparable to the IVVM Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of NVBT and IVVM, 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

NVBT vs. IVVM - Drawdown Comparison

The maximum NVBT drawdown since its inception was -12.90%, which is greater than IVVM's maximum drawdown of -11.62%. Use the drawdown chart below to compare losses from any high point for NVBT and IVVM.

Drawdown Indicators

	NVBT	IVVM	Difference
Max Drawdown Largest peak-to-trough decline	-12.90%	-11.62%	-1.28%
Max Drawdown (1Y) Largest decline over 1 year	-6.21%	-5.31%	-0.90%
Max Drawdown (3Y) Largest decline over 3 years	-12.90%	—	—
Current Drawdown Current decline from peak	-1.46%	-0.79%	-0.67%
Average Drawdown Average peak-to-trough decline	-1.35%	-0.91%	-0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	1.08%	+0.19%

Volatility

NVBT vs. IVVM - Volatility Comparison

Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) has a higher volatility of 2.89% compared to iShares Large Cap Moderate Buffer ETF (IVVM) at 1.88%. This indicates that NVBT's price experiences larger fluctuations and is considered to be riskier than IVVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVBT	IVVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	1.88%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	6.76%	5.76%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	8.13%	7.21%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.36%	9.59%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.36%	9.59%	+0.77%

NVBT vs. IVVM - Expense Ratio Comparison

NVBT has a 0.74% expense ratio, which is higher than IVVM's 0.50% expense ratio.

Dividends

NVBT vs. IVVM - Dividend Comparison

NVBT has not paid dividends to shareholders, while IVVM's dividend yield for the trailing twelve months is around 0.65%.

Position	TTM	2025	2024
IVVM iShares Large Cap Moderate Buffer ETF	0.65%	0.68%	0.62%
NVBT Allianzim U.S. Large Cap Buffer10 Nov ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVBT and IVVM in my portfolio?

With a correlation of 0.93, NVBT and IVVM 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, NVBT or IVVM?

NVBT has higher volatility (2.89%) compared to IVVM (1.88%). In terms of maximum drawdown, NVBT dropped -12.90% vs IVVM's -11.62%.

Which ETF is better, NVBT or IVVM?

On 1-year performance, NVBT leads with 16.41% vs 14.52% for IVVM. On fees, IVVM is cheaper at 0.50% per year. On volatility, IVVM has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVBT or IVVM?

Over the 1-year period, NVBT has performed better with a 16.41% return vs 14.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVBT or IVVM?

IVVM is cheaper with a 0.50% expense ratio, compared with 0.74% for NVBT.

Which ETF pays a higher dividend yield, NVBT or IVVM?

IVVM has the higher dividend yield at 0.65%, compared with 0.00% for NVBT.

What is the main difference between NVBT and IVVM?

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

Which has better risk-adjusted returns?

NVBT currently has the higher Sharpe Ratio (2.03 vs 2.03), 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.