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Launched

AllianzIM U.S. Equity Buffer10 Nov ETF

NVBTCboeAllianzIMC

$40.13−0.13 (−0.31%)

As of Nov 2, 2026, 3:59 PM ET

C52/ 100

Rank 34 of 77 in S&P 500 Buffer 9-12%

C52/100Rank 34 of 77inS&P 500 Buffer 9-12%
Intraday session: down, 79 prints from 40.26 to 40.13. Range 40.13 to 40.54. Use the arrow keys to read each point.40.2040.4040.5010 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$29M
1Y total return
+10.1%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
2.2K sh
52W range
low $35.05high $41.41
Launched

The ETF.net NVBT Grade

C

Score 52 out of 100

Category
S&P 500 Buffer 9-12%⁠
Rank
34 of 77
Six-pillar profile for NVBT. Scores out of 100: Cost 68, Risk 49, Mission 82, Tradability 33, Holdings 49, Durability 28. Strongest: Mission (82). Weakest: Durability (28). Leans toward Mission.

Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B68 out of 100
    Rank 17 of 77

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A82 out of 100
    Rank 8 of 9

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C49 out of 100
    Rank 46 of 77

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D33 out of 100
    Rank 58 of 77

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C49 out of 100
    Rank 37 of 45

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D28 out of 100
    Rank 68 of 77

Our read on NVBT

ETF.net Research

In short

CA one-year hedge that starts its clock on November 1. NVBT absorbs the first 10% of an S&P 500 price decline over each outcome period, and in exchange your upside stops at a cap reset every November.

Stated mandate

The actively managed ETF is designed to provide S&P 500-linked returns over a defined Outcome Period, subject to an upside cap and protection against the first 10% of index losses.

Why people hold it

  • The deal is written down before you take it: the first 10% of S&P 500 price losses in each outcome period are absorbed by the fund's options, with a cap set the same day.
  • At 0.74%, it runs below the median fee for shallow-buffer S&P 500 funds, and matches AllianzIM's own November-, January- and April-start siblings JANT and APRT.
  • AllianzIM runs the calendar, not just one month: twelve-month starts plus six-month Buffer10 pairs like SIXZ, so November is one rung on a ladder rather than a lone bet.
  • Actively managed and self-rolling since its 2022 launch: the options book is rebuilt each November instead of leaving you to reset a collar yourself.

Worth knowing

  • The reference is the S&P 500 Price Index, so dividends sit outside the buffer-and-cap math entirely. The fund has paid no distributions.
  • Buffer and cap describe a full outcome period, November 1 to October 31. Buy midstream and your own protection and headroom differ from the headline terms.
  • One of the smaller, more thinly traded funds in a crowded buffer field, so spreads can run wider than at the giants. Limit orders do more work here.

NVBT Holdings

Holdings pillarC49 out of 100Rank 37 of 45 in S&P 500 Buffer 9-12%
Asset class
Stocks
Holdings
2
Top-10 weight
100%
Largest holding
Spy 10/30/2026 5.05 C100.2%

Sectors

  • Technology40.1%
  • Financials11.3%
  • Communication9.9%
  • Health Care9.4%
  • Consumer Discretionary8.7%
  • Industrials7.6%
  • Consumer Staples4.4%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • Materials1.6%

Geography

  • United States99.53%
  • Switzerland0.26%
  • China0.10%
  • Mexico0.05%
  • Ireland0.03%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataSpy 10/30/2026 5.05 C100.16%376$28.7M1
2No dataSpy 10/30/2026 681.99 P<0.01%376$2291

Showing 1–2 of 2 holdings

NVBT Performance

Launched Oct 31, 2022

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
NVBT$11,005
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. NVBT $11,005. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for NVBT. Periods over one year show the average yearly return.
PeriodNVBT
Year to date+9.3%
1 month−0.9%
3 months+1.2%
1 year+10.1%
3 yearsper year+14.4%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for NVBT
YearReturn barNVBT
2026 YTD+9.3%
2025+12.8%
2024+12.0%
2023+16.3%
2022+0.2%

History from Nov 1, 2022

NVBT in the news

NVBT Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

NVBT Risk

Risk pillarC49 out of 100Rank 46 of 77 in S&P 500 Buffer 9-12%
How much the fund’s monthly returns vary, scaled to a year.
7.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.25
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−12.9%
47 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.65
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

NVBT Cost

Compare NVBT and XTR

Overpaying vs XTR, cheapest in S&P 500 Buffer 9-12%

$9,148

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • NVBT 0.74%

    $14,307

  • XTR 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • NVBT 0.74%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NVBT $14,307XTR $5,159

Year by year

YearNVBTXTROverpaying
10$1,319$455$864
20$5,015$1,769$3,246
30$14,307$5,159$9,148

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