OCTU vs. FBUF

Last updated Aug 4, 2026

OCTU (AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF) and FBUF (Fidelity Dynamic Buffered Equity ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, OCTU returned 16.47% vs 19.00% for FBUF. Their correlation of 0.92 means they have usually moved in the same direction. OCTU charges 0.74%/yr vs 0.48%/yr for FBUF.

Performance

OCTU vs. FBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) and Fidelity Dynamic Buffered Equity ETF (FBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with OCTU having a 7.80% return and FBUF slightly higher at 7.94%.

OCTU

• 1D: 1.20%
• 1M: 1.32%
• 6M: 6.56%
• YTD: 7.80%
• 1Y: 16.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.86%

FBUF

• 1D: 0.65%
• 1M: 3.11%
• 6M: 5.93%
• YTD: 7.94%
• 1Y: 19.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBUF Fidelity Dynamic Buffered Equity ETF	$202.49K	$184.01K	$259.55K
OCTU AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	$48.73K	$80.14K	$305.60K

OCTU vs. FBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTU AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	7.80%	12.37%	1.43%
FBUF Fidelity Dynamic Buffered Equity ETF	7.94%	14.01%	3.45%

Correlation

The correlation between OCTU and FBUF is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.92

The correlation between OCTU and FBUF has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

OCTU vs. FBUF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OCTU

OCTU Risk / Return Rank: 67
OCTU Sharpe Ratio Rank: 65
OCTU Sortino Ratio Rank: 65
OCTU Omega Ratio Rank: 60
OCTU Calmar Ratio Rank: 72
OCTU Martin Ratio Rank: 73

FBUF

FBUF Risk / Return Rank: 88
FBUF Sharpe Ratio Rank: 89
FBUF Sortino Ratio Rank: 87
FBUF Omega Ratio Rank: 90
FBUF Calmar Ratio Rank: 85
FBUF Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OCTU vs. FBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) and Fidelity Dynamic Buffered Equity ETF (FBUF). 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.

	OCTU	FBUF	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.26	-0.59
Sortino ratio: Return per unit of downside risk	2.37	3.04	-0.67
Omega ratio: Gain probability vs. loss probability	1.29	1.44	-0.15
Calmar ratio: Return relative to maximum drawdown	2.79	3.40	-0.61
Martin ratio: Return relative to average drawdown	10.04	14.19	-4.16

OCTU vs. FBUF - Sharpe Ratio Comparison

The current OCTU Sharpe Ratio is 1.67, which is comparable to the FBUF Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of OCTU and FBUF, 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

OCTU vs. FBUF - Drawdown Comparison

The maximum OCTU drawdown since its inception was -11.24%, roughly equal to the maximum FBUF drawdown of -11.09%. Use the drawdown chart below to compare losses from any high point for OCTU and FBUF.

Drawdown Indicators

	OCTU	FBUF	Difference
Max Drawdown Largest peak-to-trough decline	-11.24%	-11.09%	-0.15%
Max Drawdown (1Y) Largest decline over 1 year	-5.92%	-5.61%	-0.31%
Current Drawdown Current decline from peak	-0.58%	0.00%	-0.58%
Average Drawdown Average peak-to-trough decline	-1.70%	-1.34%	-0.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	1.34%	+0.30%

Volatility

OCTU vs. FBUF - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (OCTU) has a higher volatility of 3.37% compared to Fidelity Dynamic Buffered Equity ETF (FBUF) at 2.89%. This indicates that OCTU's price experiences larger fluctuations and is considered to be riskier than FBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTU	FBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	2.89%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	6.41%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	9.94%	8.46%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	9.66%	+1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.71%	9.66%	+1.05%

OCTU vs. FBUF - Expense Ratio Comparison

OCTU has a 0.74% expense ratio, which is higher than FBUF's 0.48% expense ratio.

Dividends

OCTU vs. FBUF - Dividend Comparison

OCTU has not paid dividends to shareholders, while FBUF's dividend yield for the trailing twelve months is around 0.57%.

Position	TTM	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	0.57%	0.64%	0.54%
OCTU AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OCTU and FBUF in my portfolio?

With a correlation of 0.90, OCTU and FBUF 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, OCTU or FBUF?

OCTU has higher volatility (3.37%) compared to FBUF (2.89%). In terms of maximum drawdown, OCTU dropped -11.24% vs FBUF's -11.09%.

Which ETF is better, OCTU or FBUF?

On 1-year performance, FBUF leads with 19.00% vs 16.47% for OCTU. On fees, FBUF is cheaper at 0.48% per year. On volatility, FBUF has been the lower-risk option at 2.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTU or FBUF?

Over the 1-year period, FBUF has performed better with a 19.00% return vs 16.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTU or FBUF?

FBUF is cheaper with a 0.48% expense ratio, compared with 0.74% for OCTU.

Which ETF pays a higher dividend yield, OCTU or FBUF?

FBUF has the higher dividend yield at 0.57%, compared with 0.00% for OCTU.

What is the main difference between OCTU and FBUF?

They also come from different issuers: Allianz and Fidelity. Their fees differ too: 0.74% for OCTU and 0.48% for FBUF.

Which has better risk-adjusted returns?

FBUF currently has the higher Sharpe Ratio (2.26 vs 1.67), 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.