BUFC vs TENM: Grades, Fees and Holdings Compared

AB Conservative Buffer ETF

BUFCBNasdaq

iShares Large Cap 10% Target Buffer Mar ETF

TENMCCboe

Overlap

0.0%by weight

Expense ratio

TENM −0.16pt a year

BUFC0.69%TENM0.53%

Avg volume · 30D

BUFC 24.0×the volume

BUFC49.5KTENM2.06K

BUFC vs TENM Performance

Oct 31, 2025 – Nov 2, 2026

+5.7%BUFC+10.4%TENM

Expense ratio: BUFC 0.69%; TENM 0.53%, better
Fund size: BUFC $1.1B; TENM $47M
1Y total return: BUFC +5.7%; TENM +10.4%, better
Holdings: BUFC 5; TENM 4
Avg volume (30D): BUFC 49.5K sh, better; TENM 2.06K sh
NAV per share: BUFC $43.25; TENM $27.78
52W range

ETF.net Grade

Pillar letters and Scores for BUFC, TENM, with each pillar’s weight
Pillar	BUFC	TENM
Cost30% weight	B57	B60Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	C41	C52Higher
Tradability15% weight	B62Higher	D30
Holdings10% weight	Not scored	C48
Durability5% weight	A74Higher	C51

Rank among S&P 500 Buffer 15% funds

How we build Categories ›

Same Category. BUFC and TENM are both graded against the same 51 S&P 500 Buffer 15% funds, so their Grades compare head to head.

S&P 500 Buffer 15%⁠

Category · 51 funds

See all 51 ›

BUFC ranks 4th and TENM 11th of 51 funds in the S&P 500 Buffer 15% Category.

Rank 1BPSMOPacer Swan SOS Moderate (October) ETFScore 64
Rank 2BPSMJPacer Swan SOS Moderate (July) ETFScore 59
Rank 3BPSMRPacer Swan SOS Moderate (April) ETFScore 57
Rank 4BBUFCAB Conservative Buffer ETFScore 55
Rank 4BPOCTInnovator U.S. Equity Power Buffer ETFScore 55
Rank 11CPAPRInnovator U.S. Equity Power Buffer ETFScore 50
Rank 11CTENMiShares Large Cap 10% Target Buffer Mar ETFScore 50
Rank 13CPJULInnovator U.S. Equity Power Buffer ETFScore 49

Our read on each fund

ETF.net Research

BUFCBAB Conservative Buffer ETF

TENMCiShares Large Cap 10% Target Buffer Mar ETF

In short

BUFC Most buffer funds lock you into a 12-month outcome period. BUFC resets every three months, targeting 15% downside protection against the S&P 500 with roughly 3% of the upside per period. Deep cushion, short leash.

TENM No data

Stated mandate

BUFC The Fund is an actively managed equity ETF seeking conservative capital appreciation with potential partial downside protection. It uses options to establish an upside cap and downside protection over rolling three-month periods, targeting 15% downside protection and about 3% upside participation to the S&P 500.

TENM No data

Why people hold it

BUFC Uses options to target 15% downside protection against the S&P 500 over rolling three-month periods, so the cushion resets four times a year instead of once.alliancebernstein.com
At 0.69%, it costs less than Innovator's 0.79% Power Buffer funds (PJUL, PJAN, POCT) and less than the typical fund in its buffer cohort.
Actively managed rather than pinned to a calendar index series, running since 2023, and among the stronger implementations in its buffer peer group.

TENM No data

Worth knowing

BUFC The price of that deep cushion: upside participation is targeted near 3% per three-month period, so big rallies mostly pass you by.
Protection is partial and period-based. Losses past the targeted 15% pass through, and buying mid-period shifts your effective buffer and cap.alliancebernstein.com
Thinly traded for its size, so spreads and limit orders deserve attention.

TENM No data

Full BUFC profile⁠

Full TENM profile⁠

BUFC vs TENM Holdings

How BUFC and TENM differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BUFC and 0.0% of TENM.

Level by level

Asset classAlternatives, Equity0.0%
Holdings0 in both0.0%
Countryby domicile100%
Sector11 Sectors100%

Sector

Sector weights in BUFC and TENM, widest gap first
Sector	More in BUFCMore in TENM	BUFC	TENM
Industrials	Same weight	7.6%	7.6%
Technology	Same weight	40.1%	40.1%
Financials	Same weight	11.3%	11.3%
Communication	Same weight	9.9%	9.9%
Health Care	Same weight	9.4%	9.4%
Consumer Discretionary	Same weight	8.7%	8.7%
Consumer Staples	Same weight	4.4%	4.4%
Energy	Same weight	3.4%	3.4%
Utilities	Same weight	1.9%	1.9%
Real Estate	Same weight	1.7%	1.7%
Materials	Same weight	1.6%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in BUFC and TENM, widest gap first
Country	More in BUFCMore in TENM	BUFC	TENM
United States	TENM +0.1 points	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
Mexico	BUFC +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BUFC100.3%
TENM104.4%

Securities held

BUFC3
TENM2

Asset class

BUFC: Alternatives
TENM: Equity

Holdings

Only in BUFC3
In both0
Only in TENM2

Only in BUFC

3 securities, 100% of BUFC by weight

4SPY 11/30/26 C3.86 4SPY 11/30/26 C3.8697.28%
4SPY 11/30/26 P772.49 4SPY 11/30/26 P772.492.51%
Alliancebernstein Govt Stif Ssc Fund 64BA Agis 5870.53%

Only in TENM

2 securities, 100% of TENM by weight

Ishares Core S&P Etf Trust101.90%
APR27 Ivv Us P @ 653.211.17%

Weight gaps

BUFC and TENM share no securities.

All 7 BUFC holdings⁠All TENM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BUFC vs TENM Cost

Overpaying BUFC vs TENM

$2,893

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

BUFC 0.69%
$13,429
TENM 0.53%
$10,536

Amount$10,000

Years30 years

Cost over time

BUFC 0.69%
TENM 0.53%
Overpaying

Year by year

Year	BUFC	TENM	Overpaying
10	$1,232	$953	$279
20	$4,697	$3,658	$1,039
30	$13,429	$10,536	$2,893

Expense ratio

0.69%BUFC
0.53%TENM, cheaper

TENM0.53%BUFC0.69%

0.30%0.89%

Middle half of S&P 500 Buffer 15% funds
Median 0.79%

TENM 15th cheapest of 51 funds

BUFC 17th cheapest of 51 funds

BUFC vs TENM Dividends

Last 12 months to Nov 2, 2026

Payout (12M): BUFC None; TENM No data
Last payment: BUFC No data; TENM $0.08
Ex-dividend: BUFC No data; TENM Dec 23, 2025
Paid on: BUFC No data; TENM Dec 29, 2025
Frequency: BUFC No data; TENM Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

BUFCAll BUFC payments⁠

No distribution history available.

TENMIrregular · 1 paymentAll TENM payments⁠

BUFC vs TENM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BUFC 3.4%since Jan 2024TENM 7.0%since Nov 2025
Return per unit of riskSharpe ratio, 3 years: BUFC 0.82since Jan 2024TENM 0.94since Nov 2025
Worst fallMax drawdown, 5 years: BUFC −8.3%since Dec 2023TENM −3.6%since Oct 2025
Market sensitivityBeta, 5 years: BUFC 0.26TENM 0.52; Market = 1

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