OCTB vs. TENM

Last updated Jun 23, 2026

OCTB (Aptus October Buffer ETF) and TENM (iShares Large Cap 10% Target Buffer Mar ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.94 suggests significant overlap in exposure. OCTB charges 0.25%/yr vs 0.50%/yr for TENM.

Performance

OCTB vs. TENM - 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 Mar ETF (TENM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OCTB having a 6.11% return and TENM slightly lower at 5.99%.

OCTB

• 1D: -0.15%
• 1M: 0.56%
• YTD: 6.11%
• 6M: 6.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TENM

• 1D: -0.22%
• 1M: 0.34%
• YTD: 5.99%
• 6M: 5.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTB vs. TENM - Yearly Performance Comparison

	2026 (YTD)	2025
OCTB Aptus October Buffer ETF	6.11%	1.45%
TENM iShares Large Cap 10% Target Buffer Mar ETF	5.99%	2.04%

Correlation

The correlation between OCTB and TENM is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 22, 2025	0.94

Return for Risk

OCTB vs. TENM - 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 Mar ETF (TENM). 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.

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

Drawdowns

OCTB vs. TENM - Drawdown Comparison

The maximum OCTB drawdown since its inception was -4.79%, which is greater than TENM's maximum drawdown of -3.61%. Use the drawdown chart below to compare losses from any high point for OCTB and TENM.

Drawdown Indicators

	OCTB	TENM	Difference
Max Drawdown Largest peak-to-trough decline	-4.79%	-3.61%	-1.18%
Current Drawdown Current decline from peak	-0.26%	-0.43%	+0.17%
Average Drawdown Average peak-to-trough decline	-0.69%	-0.70%	+0.01%

Volatility

Volatility by Period

	OCTB	TENM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.24%	6.72%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.24%	6.72%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.24%	6.72%	+0.52%

OCTB vs. TENM - Expense Ratio Comparison

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

Dividends

OCTB vs. TENM - Dividend Comparison

OCTB has not paid dividends to shareholders, while TENM's dividend yield for the trailing twelve months is around 0.28%.

Position	TTM	2025
OCTB Aptus October Buffer ETF	0.00%	0.00%
TENM iShares Large Cap 10% Target Buffer Mar ETF	0.28%	0.29%

Frequently Asked Questions

Can I hold both OCTB and TENM in my portfolio?

With a correlation of 0.94, OCTB and TENM 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 TENM?

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 TENM?

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

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

TENM has the higher dividend yield at 0.28%, compared with 0.00% for OCTB.

What is the main difference between OCTB and TENM?

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