SPBX vs. EINC

Last updated Jul 12, 2026

SPBX (AllianzIM 6 Month Buffer10 Allocation ETF) and EINC (VanEck Energy Income ETF) are both exchange-traded funds - SPBX is a Defined Outcome fund actively managed by Allianz, while EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index. SPBX is actively managed, while EINC is passively managed. Over the past year, SPBX returned 12.98% vs 30.66% for EINC. At a 0.15 correlation, their price movements are largely independent. SPBX charges 0.79%/yr vs 0.45%/yr for EINC.

Performance

SPBX vs. EINC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) and VanEck Energy Income ETF (EINC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPBX achieves a 6.84% return, which is significantly lower than EINC's 26.77% return.

SPBX

• 1D: 0.21%
• 1M: 1.64%
• 6M: 5.97%
• YTD: 6.84%
• 1Y: 12.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EINC

• 1D: 0.19%
• 1M: 0.78%
• 6M: 28.45%
• YTD: 26.77%
• 1Y: 30.66%
• 3Y*: 28.13%
• 5Y*: 21.31%
• 10Y*: 11.56%

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

SPBX vs. EINC - Yearly Performance Comparison

	2026 (YTD)	2025
SPBX AllianzIM 6 Month Buffer10 Allocation ETF	6.84%	9.79%
EINC VanEck Energy Income ETF	26.77%	5.16%

Correlation

The correlation between SPBX and EINC is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.12
Correlation (All Time) Calculated using the full available price history since Jan 8, 2025	0.15

The correlation between SPBX and EINC shifts across timeframes, from -0.12 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPBX vs. EINC — Risk / Return Rank

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

SPBX

SPBX Risk / Return Rank: 86
SPBX Sharpe Ratio Rank: 89
SPBX Sortino Ratio Rank: 91
SPBX Omega Ratio Rank: 91
SPBX Calmar Ratio Rank: 72
SPBX Martin Ratio Rank: 85

EINC

EINC Risk / Return Rank: 78
EINC Sharpe Ratio Rank: 81
EINC Sortino Ratio Rank: 78
EINC Omega Ratio Rank: 77
EINC Calmar Ratio Rank: 87
EINC Martin Ratio Rank: 68

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.

SPBX vs. EINC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) and VanEck Energy Income ETF (EINC). 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.

	SPBX	EINC	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.05	+0.29
Sortino ratio: Return per unit of downside risk	3.43	2.78	+0.65
Omega ratio: Gain probability vs. loss probability	1.46	1.36	+0.11
Calmar ratio: Return relative to maximum drawdown	2.87	3.98	-1.11
Martin ratio: Return relative to average drawdown	13.91	9.80	+4.11

SPBX vs. EINC - Sharpe Ratio Comparison

The current SPBX Sharpe Ratio is 2.34, which is comparable to the EINC Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of SPBX and EINC, 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

SPBX vs. EINC - Drawdown Comparison

The maximum SPBX drawdown since its inception was -11.11%, smaller than the maximum EINC drawdown of -87.55%. Use the drawdown chart below to compare losses from any high point for SPBX and EINC.

Drawdown Indicators

	SPBX	EINC	Difference
Max Drawdown Largest peak-to-trough decline	-11.11%	-87.55%	+76.44%
Max Drawdown (1Y) Largest decline over 1 year	-4.49%	-7.89%	+3.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-68.85%	—
Current Drawdown Current decline from peak	0.00%	-3.89%	+3.89%
Average Drawdown Average peak-to-trough decline	-1.10%	-44.02%	+42.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	3.20%	-2.27%

Volatility

SPBX vs. EINC - Volatility Comparison

The current volatility for AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) is 1.63%, while VanEck Energy Income ETF (EINC) has a volatility of 6.16%. This indicates that SPBX experiences smaller price fluctuations and is considered to be less risky than EINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPBX	EINC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	6.16%	-4.53%
Volatility (6M) Calculated over the trailing 6-month period	4.70%	12.26%	-7.56%
Volatility (1Y) Calculated over the trailing 1-year period	5.53%	15.33%	-9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.20%	19.58%	-10.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.20%	25.33%	-16.13%

SPBX vs. EINC - Expense Ratio Comparison

SPBX has a 0.79% expense ratio, which is higher than EINC's 0.45% expense ratio.

Dividends

SPBX vs. EINC - Dividend Comparison

SPBX has not paid dividends to shareholders, while EINC's dividend yield for the trailing twelve months is around 3.49%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.49%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
SPBX AllianzIM 6 Month Buffer10 Allocation ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPBX and EINC in my portfolio?

SPBX and EINC have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPBX or EINC?

EINC has higher volatility (6.16%) compared to SPBX (1.63%). In terms of maximum drawdown, SPBX dropped -11.11% vs EINC's -87.55%.

Which ETF is better, SPBX or EINC?

On 1-year performance, EINC leads with 30.66% vs 12.98% for SPBX. On fees, EINC is cheaper at 0.45% per year. On volatility, SPBX has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPBX or EINC?

Over the 1-year period, EINC has performed better with a 30.66% return vs 12.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPBX or EINC?

EINC is cheaper with a 0.45% expense ratio, compared with 0.79% for SPBX.

Which ETF pays a higher dividend yield, SPBX or EINC?

EINC has the higher dividend yield at 3.49%, compared with 0.00% for SPBX.

What is the main difference between SPBX and EINC?

SPBX is categorized as Defined Outcome, while EINC is Energy Equities. They also come from different issuers: Allianz and VanEck. Their fees differ too: 0.79% for SPBX and 0.45% for EINC.

Which has better risk-adjusted returns?

SPBX currently has the higher Sharpe Ratio (2.34 vs 2.05), 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.