SIXZ vs. NVBT

Last updated Jul 14, 2026

SIXZ (AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF) and NVBT (Allianzim U.S. Large Cap Buffer10 Nov ETF) are both exchange-traded funds - SIXZ is a Defined Outcome fund actively managed by Allianz, while NVBT is a Options Trading fund actively managed by Allianz. Both are actively managed. Over the past year, SIXZ returned 10.87% vs 15.12% for NVBT. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

SIXZ vs. NVBT - Performance Comparison

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

Returns By Period

In the year-to-date period, SIXZ achieves a 6.92% return, which is significantly lower than NVBT's 7.89% return.

SIXZ

• 1D: -0.19%
• 1M: 1.15%
• 6M: 5.81%
• YTD: 6.92%
• 1Y: 10.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NVBT

• 1D: -0.35%
• 1M: 1.30%
• 6M: 6.48%
• YTD: 7.89%
• 1Y: 15.12%
• 3Y*: 11.27%
• 5Y*: —
• 10Y*: —

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

SIXZ vs. NVBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXZ AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	6.92%	7.24%	10.31%
NVBT Allianzim U.S. Large Cap Buffer10 Nov ETF	7.89%	12.84%	7.91%

Correlation

The correlation between SIXZ and NVBT 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 (1Y) Calculated over the trailing 1-year period	0.94
Correlation (All Time) Calculated using the full available price history since May 1, 2024	0.91

The correlation between SIXZ and NVBT has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

SIXZ vs. NVBT — Risk / Return Rank

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

SIXZ

SIXZ Risk / Return Rank: 69
SIXZ Sharpe Ratio Rank: 67
SIXZ Sortino Ratio Rank: 70
SIXZ Omega Ratio Rank: 74
SIXZ Calmar Ratio Rank: 62
SIXZ Martin Ratio Rank: 74

NVBT

NVBT Risk / Return Rank: 73
NVBT Sharpe Ratio Rank: 74
NVBT Sortino Ratio Rank: 75
NVBT Omega Ratio Rank: 76
NVBT Calmar Ratio Rank: 62
NVBT Martin Ratio Rank: 78

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.

SIXZ vs. NVBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF (SIXZ) and Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT). 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.

	SIXZ	NVBT	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.87	-0.13
Sortino ratio: Return per unit of downside risk	2.54	2.69	-0.15
Omega ratio: Gain probability vs. loss probability	1.35	1.36	-0.01
Calmar ratio: Return relative to maximum drawdown	2.45	2.45	+0.01
Martin ratio: Return relative to average drawdown	10.74	11.73	-0.99

SIXZ vs. NVBT - Sharpe Ratio Comparison

The current SIXZ Sharpe Ratio is 1.73, which is comparable to the NVBT Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of SIXZ and NVBT, 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

SIXZ vs. NVBT - Drawdown Comparison

The maximum SIXZ drawdown since its inception was -10.27%, smaller than the maximum NVBT drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for SIXZ and NVBT.

Drawdown Indicators

	SIXZ	NVBT	Difference
Max Drawdown Largest peak-to-trough decline	-10.27%	-12.90%	+2.63%
Max Drawdown (1Y) Largest decline over 1 year	-4.45%	-6.21%	+1.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.90%	—
Current Drawdown Current decline from peak	-0.19%	-0.35%	+0.16%
Average Drawdown Average peak-to-trough decline	-0.90%	-1.34%	+0.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.29%	-0.27%

Volatility

SIXZ vs. NVBT - Volatility Comparison

The current volatility for AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF (SIXZ) is 1.87%, while Allianzim U.S. Large Cap Buffer10 Nov ETF (NVBT) has a volatility of 2.62%. This indicates that SIXZ experiences smaller price fluctuations and is considered to be less risky than NVBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SIXZ	NVBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	2.62%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	5.38%	6.83%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	6.32%	8.15%	-1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.74%	10.32%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.74%	10.32%	-2.58%

SIXZ vs. NVBT - Expense Ratio Comparison

Both SIXZ and NVBT have an expense ratio of 0.74%.

Dividends

SIXZ vs. NVBT - Dividend Comparison

Neither SIXZ nor NVBT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SIXZ and NVBT in my portfolio?

With a correlation of 0.94, SIXZ and NVBT 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, SIXZ or NVBT?

NVBT has higher volatility (2.62%) compared to SIXZ (1.87%). In terms of maximum drawdown, SIXZ dropped -10.27% vs NVBT's -12.90%.

Which ETF is better, SIXZ or NVBT?

On 1-year performance, NVBT leads with 15.12% vs 10.87% for SIXZ. Both ETFs have the same 0.74% expense ratio. On volatility, SIXZ has been the lower-risk option at 1.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXZ or NVBT?

Over the 1-year period, NVBT has performed better with a 15.12% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXZ or NVBT?

SIXZ and NVBT have the same expense ratio: 0.74% per year.

Which ETF pays a higher dividend yield, SIXZ or NVBT?

SIXZ and NVBT have nearly identical dividend yields, around 0.00%.

What is the main difference between SIXZ and NVBT?

SIXZ is categorized as Defined Outcome, while NVBT is Options Trading.

Which has better risk-adjusted returns?

NVBT currently has the higher Sharpe Ratio (1.87 vs 1.73), 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.