TENM vs. OCTB

Last updated Jun 3, 2026

TENM (iShares Large Cap 10% Target Buffer Mar ETF) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. TENM charges 0.50%/yr vs 0.25%/yr for OCTB.

Performance

TENM vs. OCTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Large Cap 10% Target Buffer Mar ETF (TENM) 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 TENM having a 6.40% return and OCTB slightly lower at 6.36%.

TENM

• 1D: -0.04%
• 1M: 2.16%
• YTD: 6.40%
• 6M: 6.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

• 1D: 0.06%
• 1M: 2.36%
• YTD: 6.36%
• 6M: 7.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TENM vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
TENM iShares Large Cap 10% Target Buffer Mar ETF	6.40%	2.04%
OCTB Aptus October Buffer ETF	6.36%	1.79%

Correlation

The correlation between TENM and OCTB is 0.93, 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 23, 2025	0.93

Return for Risk

TENM vs. OCTB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap 10% Target Buffer Mar ETF (TENM) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TENM	OCTB	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.24	2.02	+0.22

Drawdowns

TENM vs. OCTB - Drawdown Comparison

The maximum TENM drawdown since its inception was -3.61%, smaller than the maximum OCTB drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for TENM and OCTB.

Drawdown Indicators

	TENM	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-3.61%	-4.79%	+1.18%
Current Drawdown Current decline from peak	-0.04%	0.00%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.70%	-0.70%	0.00%

Volatility

Volatility by Period

	TENM	OCTB	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	7.22%	-0.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	7.22%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	7.22%	-0.69%

TENM vs. OCTB - Expense Ratio Comparison

TENM has a 0.50% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

TENM vs. OCTB - Dividend Comparison

TENM's dividend yield for the trailing twelve months is around 0.28%, while OCTB has not paid dividends to shareholders.

Position	TTM	2025
OCTB Aptus October Buffer ETF	0.00%	0.00%
TENM iShares Large Cap 10% Target Buffer Mar ETF	0.28%	0.29%

Frequently Asked Questions

Can I hold both TENM and OCTB in my portfolio?

With a correlation of 0.93, TENM 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, TENM 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, TENM or OCTB?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.50% for TENM.

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

TENM has the higher dividend yield at 0.28%, compared with 0.00% for OCTB.

What is the main difference between TENM and OCTB?

They also come from different issuers: BlackRock and Aptus Capital Advisors. Their fees differ too: 0.50% for TENM and 0.25% for OCTB.