SIXO vs. FEBT

Last updated Jun 23, 2026

SIXO (AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF) and FEBT (Allianzim U.S. Large Cap Buffer10 Feb ETF) are both Options Trading funds from Allianz. SIXO is passively managed, while FEBT is actively managed. Over the past 3 years, SIXO returned 9.39%/yr vs 15.72%/yr for FEBT. Their correlation of 0.88 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

SIXO vs. FEBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (SIXO) and Allianzim U.S. Large Cap Buffer10 Feb ETF (FEBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXO achieves a 3.05% return, which is significantly lower than FEBT's 7.54% return.

SIXO

• 1D: 0.02%
• 1M: 0.65%
• YTD: 3.05%
• 6M: 3.05%
• 1Y: 9.55%
• 3Y*: 9.39%
• 5Y*: —
• 10Y*: —

FEBT

• 1D: -0.19%
• 1M: 0.35%
• YTD: 7.54%
• 6M: 7.41%
• 1Y: 19.91%
• 3Y*: 15.72%
• 5Y*: —
• 10Y*: —

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

SIXO vs. FEBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SIXO AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF	3.05%	7.19%	12.22%	13.28%
FEBT Allianzim U.S. Large Cap Buffer10 Feb ETF	7.54%	12.72%	17.29%	15.47%

Correlation

The correlation between SIXO and FEBT is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.88

The correlation between SIXO and FEBT has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

SIXO vs. FEBT — Risk / Return Rank

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

SIXO

SIXO Risk / Return Rank: 56
SIXO Sharpe Ratio Rank: 56
SIXO Sortino Ratio Rank: 55
SIXO Omega Ratio Rank: 66
SIXO Calmar Ratio Rank: 48
SIXO Martin Ratio Rank: 53

FEBT

FEBT Risk / Return Rank: 81
FEBT Sharpe Ratio Rank: 83
FEBT Sortino Ratio Rank: 86
FEBT Omega Ratio Rank: 85
FEBT Calmar Ratio Rank: 68
FEBT Martin Ratio Rank: 84

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.

SIXO vs. FEBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (SIXO) and Allianzim U.S. Large Cap Buffer10 Feb ETF (FEBT). 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.

	SIXO	FEBT	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.56	-0.72
Sortino ratio: Return per unit of downside risk	2.55	3.66	-1.12
Omega ratio: Gain probability vs. loss probability	1.38	1.50	-0.11
Calmar ratio: Return relative to maximum drawdown	2.32	3.31	-0.99
Martin ratio: Return relative to average drawdown	8.80	16.57	-7.77

SIXO vs. FEBT - Sharpe Ratio Comparison

The current SIXO Sharpe Ratio is 1.84, which is comparable to the FEBT Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of SIXO and FEBT, 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

SIXO vs. FEBT - Drawdown Comparison

The maximum SIXO drawdown since its inception was -12.04%, smaller than the maximum FEBT drawdown of -13.19%. Use the drawdown chart below to compare losses from any high point for SIXO and FEBT.

Drawdown Indicators

	SIXO	FEBT	Difference
Max Drawdown Largest peak-to-trough decline	-12.04%	-13.19%	+1.15%
Max Drawdown (1Y) Largest decline over 1 year	-4.13%	-6.04%	+1.91%
Max Drawdown (3Y) Largest decline over 3 years	-11.95%	-13.19%	+1.24%
Current Drawdown Current decline from peak	0.00%	-0.67%	+0.67%
Average Drawdown Average peak-to-trough decline	-1.99%	-1.17%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	1.20%	-0.11%

Volatility

SIXO vs. FEBT - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (SIXO) is 1.02%, while Allianzim U.S. Large Cap Buffer10 Feb ETF (FEBT) has a volatility of 2.31%. This indicates that SIXO experiences smaller price fluctuations and is considered to be less risky than FEBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXO	FEBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.02%	2.31%	-1.29%
Volatility (6M) Calculated over the trailing 6-month period	4.08%	6.26%	-2.18%
Volatility (1Y) Calculated over the trailing 1-year period	5.21%	7.82%	-2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.04%	9.75%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.04%	9.75%	-0.71%

SIXO vs. FEBT - Expense Ratio Comparison

Both SIXO and FEBT have an expense ratio of 0.74%.

Dividends

SIXO vs. FEBT - Dividend Comparison

Neither SIXO nor FEBT has paid dividends to shareholders.

Position	TTM	2025	2024
FEBT Allianzim U.S. Large Cap Buffer10 Feb ETF	0.00%	0.00%	0.28%
SIXO AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXO and FEBT in my portfolio?

SIXO and FEBT have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXO or FEBT?

FEBT has higher volatility (2.31%) compared to SIXO (1.02%). In terms of maximum drawdown, SIXO dropped -12.04% vs FEBT's -13.19%.

Which ETF is better, SIXO or FEBT?

On 3-year performance, FEBT leads with 15.72% vs 9.39% for SIXO. Both ETFs have the same 0.74% expense ratio. On volatility, SIXO has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXO or FEBT?

Over the 3-year period, FEBT has performed better with a 15.72% return vs 9.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXO or FEBT?

SIXO and FEBT have the same expense ratio: 0.74% per year.

Which ETF pays a higher dividend yield, SIXO or FEBT?

SIXO and FEBT have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

FEBT currently has the higher Sharpe Ratio (2.56 vs 1.84), 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.