OCTB vs. TENJ

Last updated Jun 4, 2026

OCTB (Aptus October Buffer ETF) and TENJ (iShares Large Cap 10% Target Buffer Jun ETF) are both Defined Outcome funds. Both are actively managed. With a 0.97 correlation, they move nearly in lockstep. OCTB charges 0.25%/yr vs 0.50%/yr for TENJ.

Performance

OCTB vs. TENJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus October Buffer ETF (OCTB) and iShares Large Cap 10% Target Buffer Jun ETF (TENJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCTB achieves a 6.18% return, which is significantly lower than TENJ's 7.73% return.

OCTB

• 1D: -0.17%
• 1M: 2.41%
• YTD: 6.18%
• 6M: 6.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TENJ

• 1D: -0.15%
• 1M: 3.28%
• YTD: 7.73%
• 6M: 8.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTB vs. TENJ - Yearly Performance Comparison

	2026 (YTD)	2025
OCTB Aptus October Buffer ETF	6.18%	1.79%
TENJ iShares Large Cap 10% Target Buffer Jun ETF	7.73%	2.22%

Correlation

The correlation between OCTB and TENJ is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.97

Return for Risk

OCTB vs. TENJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus October Buffer ETF (OCTB) and iShares Large Cap 10% Target Buffer Jun ETF (TENJ). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	OCTB	TENJ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.97	2.12	-0.15

Drawdowns

OCTB vs. TENJ - Drawdown Comparison

The maximum OCTB drawdown since its inception was -4.79%, smaller than the maximum TENJ drawdown of -5.51%. Use the drawdown chart below to compare losses from any high point for OCTB and TENJ.

Drawdown Indicators

	OCTB	TENJ	Difference
Max Drawdown Largest peak-to-trough decline	-4.79%	-5.51%	+0.72%
Current Drawdown Current decline from peak	-0.17%	-0.15%	-0.02%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.83%	+0.13%

Volatility

Volatility by Period

	OCTB	TENJ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.20%	8.17%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.20%	8.17%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.20%	8.17%	-0.97%

OCTB vs. TENJ - Expense Ratio Comparison

OCTB has a 0.25% expense ratio, which is lower than TENJ's 0.50% expense ratio.

Dividends

OCTB vs. TENJ - Dividend Comparison

OCTB has not paid dividends to shareholders, while TENJ's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025
OCTB Aptus October Buffer ETF	0.00%	0.00%
TENJ iShares Large Cap 10% Target Buffer Jun ETF	0.26%	0.28%

Frequently Asked Questions

Can I hold both OCTB and TENJ in my portfolio?

With a correlation of 0.97, OCTB and TENJ 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 ETF is better, OCTB or TENJ?

On fees, OCTB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OCTB or TENJ?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.50% for TENJ.

Which ETF pays a higher dividend yield, OCTB or TENJ?

TENJ has the higher dividend yield at 0.26%, compared with 0.00% for OCTB.

What is the main difference between OCTB and TENJ?

They also come from different issuers: Aptus Capital Advisors and BlackRock. Their fees differ too: 0.25% for OCTB and 0.50% for TENJ.