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Launched

AllianzIM U.S. Equity Buffer20 Nov ETF

NVBWCboeAllianzIMC

$36.84−0.08 (−0.22%)

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

C47/ 100

Rank 15 of 24 in S&P 500 Buffer 20%

C47/100Rank 15 of 24inS&P 500 Buffer 20%
Intraday session: down, 79 prints from 36.92 to 36.84. Range 36.83 to 37.14. Use the arrow keys to read each point.37.0037.0537.1037.1510 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$97M
1Y total return
+10.0%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
5.35K sh
52W range
low $32.83high $37.22
Launched

The ETF.net NVBW Grade

Based on 5 of 6 pillars

C

Score 47 out of 100

Category
S&P 500 Buffer 20%⁠
Rank
15 of 24
Six-pillar profile for NVBW. Scores out of 100: Cost 37, Risk 47, Mission not scored, Tradability 59, Holdings 58, Durability 57. Strongest: Tradability (59). Weakest: Cost (37). Based on 5 of 6 pillars.

Score 47 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.
    D37 out of 100
    Rank 10 of 24

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 13 of 23

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B59 out of 100
    Rank 8 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B58 out of 100
    Rank 8 of 13

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 11 of 24

Our read on NVBW

ETF.net Research

In short

CAn insurance hedging desk in ETF form: NVBW absorbs the first 20% of a year's losses in the SPDR S&P 500 ETF Trust, and in exchange your upside stops at a cap reset each November.

Stated mandate

The Fund seeks to track the share-price returns of the SPDR® S&P 500® ETF Trust over its one-year Outcome Period up to an upside cap, while buffering the first 20% of losses in the Underlying ETF.

Why people hold it

  • The 20% buffer is at the deep end of the buffer shelf, and it resets on a fresh one-year clock every November.allianzim.com
  • AllianzIM runs the options itself, on the same in-house hedging platform Allianz Life uses for its annuity book, instead of outsourcing the trade.allianzlife.com
  • At 0.74%, the fee sits right at the middle of its deep-buffer peer group. No premium for the Allianz name.
  • Live since 2022, with multiple full outcome periods completed.

Worth knowing

  • Buffer and cap apply in full only if you hold from the start of the November outcome period to its end. Buy mid-period and your terms differ.allianzlife.com
  • Cheaper deep-buffer alternatives exist: PSFJ and PSFM both charge 0.49%.
  • You track SPY's share-price returns, so dividends aren't part of the deal, and the fund trades lightly enough that limit orders matter.

NVBW 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.
NVBW$11,001
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. NVBW $11,001. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 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 NVBW. Periods over one year show the average yearly return.
PeriodNVBW
Year to date+9.1%
1 month+1.1%
3 months+3.0%
1 year+10.0%
3 yearsper year+11.1%
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 NVBW
YearReturn barNVBW
2026 YTD+9.1%
2025+9.2%
2024+9.0%
2023+12.7%
2022+0.5%

History from Nov 1, 2022

NVBW in the news

NVBW Dividends

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

No distributions in the last 12 months.

NVBW Risk

Risk pillarC47 out of 100Rank 13 of 23 in S&P 500 Buffer 20%
How much the fund’s monthly returns vary, scaled to a year.
4.6%
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.
1.35
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.
−8.4%
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.
0.40
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.

NVBW Cost

Compare NVBW and PSFD

Overpaying vs PSFD, tied cheapest in S&P 500 Buffer 20%

$4,515

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

  • NVBW 0.74%

    $14,307

  • PSFD 0.49% Tied cheapest

    $9,792

$10,000
30 years

Cost over time

  • NVBW 0.74%
  • PSFD 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NVBW $14,307PSFD $9,792

Year by year

YearNVBWPSFDOverpaying
10$1,319$883$436
20$5,015$3,394$1,621
30$14,307$9,792$4,515

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