Skip to content
etf.net

NVBT vs TENJ

AllianzIM U.S. Equity Buffer10 Nov ETF

NVBTCCboe

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Overlap

0.0%by weight

Expense ratio

TENJ −0.21pt a year

NVBT0.74%TENJ0.53%

Avg volume · 30D

TENJ 11.2×the volume

NVBT2.2KTENJ24.6K

NVBT vs TENJ Performance

Oct 31, 2025 – Oct 30, 2026

+10.1%NVBT+11.7%TENJ

Oct 31, 2025 to Oct 30, 2026. NVBT +10.1%. TENJ +11.7%. Use the arrow keys to read each point.−5%0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
NVBT 0.74%
TENJ 0.53%, better
Fund size
NVBT $29M
TENJ $47M
1Y total return
NVBT +10.1%
TENJ +11.7%, better
Holdings
NVBT 2
TENJ 4
Avg volume (30D)
NVBT 2.2K sh
TENJ 24.6K sh, better
NAV per share
NVBT $40.99
TENJ $28.09
52W range

ETF.net Grade

NVBT: Cost 68, Risk 49, Mission 82, Tradability 33, Holdings 49, Durability 28. TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41.
Pillar letters and Scores for NVBT, TENJ, with each pillar’s weight
PillarNVBTTENJ
Cost30% weightB68A86Higher
Mission25% weightA82Not scored
Risk15% weightC49C49
Tradability15% weightD33B66Higher
Holdings10% weightC49C51Higher
Durability5% weightD28C41Higher

Rank among S&P 500 Buffer 9-12% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. NVBT and TENJ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

TENJ ranks 3rd and NVBT 34th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 4BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 65
  5. Rank 34CBMARInnovator U.S. Equity Buffer ETFScore 52
  6. Rank 34CNVBTAllianzIM U.S. Equity Buffer10 Nov ETFScore 52
  7. Rank 37CBAUGInnovator U.S. Equity Buffer ETFScore 51

Our read on each fund

ETF.net Research

NVBTCAllianzIM U.S. Equity Buffer10 Nov ETF

TENJBiShares Large Cap 10% Target Buffer Jun ETF

In short

NVBT A 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.

TENJ No data

Stated mandate

NVBT 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.

TENJ No data

Why people hold it

  • NVBT 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.

TENJ No data

Worth knowing

  • NVBT 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.

TENJ No data

Full NVBT profile⁠

Full TENJ profile⁠

NVBT vs TENJ Holdings

How NVBT and TENJ differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of NVBT and 0.0% of TENJ.

Level by level

  • Holdings0 in both0.0%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

No Sector split for TENJ.

Country, concentration and asset class

Country by domicile

Country weights in NVBT and TENJ, widest gap first
CountryMore in NVBTMore in TENJ
United StatesTENJ +0.1 points
SwitzerlandSame weight
ChinaSame weight
MexicoNVBT +0.1 points
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • NVBT100.2%
  • TENJ102.6%

Securities held

  • NVBT2
  • TENJ2

Asset class

NVBT
Equity
TENJ
Equity

Holdings

  • Only in NVBT2
  • In both0
  • Only in TENJ2

Only in NVBT

2 securities, 100% of NVBT by weight

  • Spy 10/30/2026 5.05 C100.16%
  • Spy 10/30/2026 681.99 P<0.01%

Only in TENJ

2 securities, 100% of TENJ by weight

  • Ishares Core S&P Etf Trust97.64%
  • JUL27 Ivv Us P @ 748.894.03%

Weight gaps

NVBT and TENJ share no securities.

All 5 NVBT holdings⁠All TENJ 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.

NVBT vs TENJ Cost

Overpaying NVBT vs TENJ

$3,771

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

  • NVBT 0.74%

    $14,307

  • TENJ 0.53%

    $10,536

$10,000
30 years

Cost over time

  • NVBT 0.74%
  • TENJ 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530NVBT $14,307TENJ $10,536

Year by year

YearNVBTTENJOverpaying
10$1,319$953$366
20$5,015$3,658$1,357
30$14,307$10,536$3,771

Expense ratio

  • 0.74%NVBT
  • 0.53%TENJ, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

TENJ 11th cheapest of 77 funds

NVBT 17th cheapest of 77 funds

NVBT vs TENJ Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
NVBT None
TENJ No data
Last payment
NVBT No data
TENJ $0.07
Ex-dividend
NVBT No data
TENJ Dec 23, 2025
Paid on
NVBT No data
TENJ Dec 29, 2025
Frequency
NVBT No data
TENJ Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

NVBTAll NVBT payments⁠

No distribution history available.

TENJIrregular · 1 paymentAll TENJ payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.07. Use the arrow keys to read each point.$0$0.052026YTD

NVBT vs TENJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NVBT 7.5%TENJ 8.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
NVBT 1.25TENJ 0.90since Nov 2025
Worst fallMax drawdown, 5 years
NVBT −12.9%since Nov 2022TENJ −5.5%since Oct 2025
Market sensitivityBeta, 5 years
NVBT 0.65TENJ 0.63

NVBT and TENJ in the news

All news⁠

Popular comparisons

  • NVBTCvsZALTA

    AllianzIM U.S. Equity Buffer10 Nov ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.74% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TENJBvsZALTA

    iShares Large Cap 10% Target Buffer Jun ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.53% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NVBTCvsAUGPB

    AllianzIM U.S. Equity Buffer10 Nov ETF · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.74% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TENJBvsAUGPB

    iShares Large Cap 10% Target Buffer Jun ETF · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.53% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NVBTCvsSIXJB

    AllianzIM U.S. Equity Buffer10 Nov ETF · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.74% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TENJBvsSIXJB

    iShares Large Cap 10% Target Buffer Jun ETF · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.53% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.