SEPT vs. OCTB

Last updated Jun 4, 2026

SEPT (AllianzIM U.S. Equity Buffer10 Sep ETF) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.94 suggests significant overlap in exposure. SEPT charges 0.74%/yr vs 0.25%/yr for OCTB.

Performance

SEPT vs. OCTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer10 Sep ETF (SEPT) and Aptus October Buffer ETF (OCTB). 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 SEPT having a 6.29% return and OCTB slightly lower at 6.18%.

SEPT

• 1D: -0.14%
• 1M: 2.40%
• YTD: 6.29%
• 6M: 6.89%
• 1Y: 19.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

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

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

SEPT vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
SEPT AllianzIM U.S. Equity Buffer10 Sep ETF	6.29%	2.74%
OCTB Aptus October Buffer ETF	6.18%	2.37%

Correlation

The correlation between SEPT and OCTB 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 15, 2025	0.94

Return for Risk

SEPT vs. OCTB — Risk / Return Rank

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

SEPT

SEPT Risk / Return Rank: 82
SEPT Sharpe Ratio Rank: 81
SEPT Sortino Ratio Rank: 85
SEPT Omega Ratio Rank: 86
SEPT Calmar Ratio Rank: 73
SEPT Martin Ratio Rank: 87

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.

SEPT vs. OCTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer10 Sep ETF (SEPT) and Aptus October Buffer ETF (OCTB). 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.

	SEPT	OCTB	Difference
Sharpe ratio: Return per unit of total volatility	2.62	—	—
Sortino ratio: Return per unit of downside risk	3.78	—	—
Omega ratio: Gain probability vs. loss probability	1.52	—	—
Calmar ratio: Return relative to maximum drawdown	3.64	—	—
Martin ratio: Return relative to average drawdown	18.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SEPT	OCTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.97	-0.37

Drawdowns

SEPT vs. OCTB - Drawdown Comparison

The maximum SEPT drawdown since its inception was -12.83%, which is greater than OCTB's maximum drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for SEPT and OCTB.

Drawdown Indicators

	SEPT	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-12.83%	-4.79%	-8.04%
Max Drawdown (1Y) Largest decline over 1 year	-5.39%	—	—
Current Drawdown Current decline from peak	-0.14%	-0.17%	+0.03%
Average Drawdown Average peak-to-trough decline	-1.09%	-0.70%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	—	—

Volatility

Volatility by Period

	SEPT	OCTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	7.20%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.87%	7.20%	+2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.87%	7.20%	+2.67%

SEPT vs. OCTB - Expense Ratio Comparison

SEPT has a 0.74% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

SEPT vs. OCTB - Dividend Comparison

Neither SEPT nor OCTB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SEPT and OCTB in my portfolio?

With a correlation of 0.94, SEPT and OCTB 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, SEPT or OCTB?

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, SEPT or OCTB?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.74% for SEPT.

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

SEPT and OCTB have nearly identical dividend yields, around 0.00%.

What is the main difference between SEPT and OCTB?

They also come from different issuers: Allianz and Aptus Capital Advisors. Their fees differ too: 0.74% for SEPT and 0.25% for OCTB.