Skip to content
etf.net

NVBW vs PSFJ

AllianzIM U.S. Equity Buffer20 Nov ETF

NVBWCCboe

Pacer Swan SOS Flex (July) ETF

PSFJBCboe

Overlap

Expense ratio

PSFJ −0.25pt a year

NVBW0.74%PSFJ0.49%

Avg volume · 30D

PSFJ 2.0×the volume

NVBW5.35KPSFJ10.6K

3Y return · a year

PSFJ +4.8pt

NVBW+11.1%PSFJ+15.9%

NVBW vs PSFJ Performance

Oct 31, 2025 – Oct 30, 2026

+10.0%NVBW+9.4%PSFJ

Oct 31, 2025 to Oct 30, 2026. NVBW +10.0%. PSFJ +9.4%. Use the arrow keys to read each point.−2.5%0%2.5%5%Oct 2025Apr 2026Oct 2026
Expense ratio
NVBW 0.74%
PSFJ 0.49%, better
Fund size
NVBW $97M
PSFJ $57M
1Y total return
NVBW +10.0%, better
PSFJ +9.4%
Holdings
NVBW 2
PSFJ 4
Avg volume (30D)
NVBW 5.35K sh
PSFJ 10.6K sh, better
NAV per share
NVBW $37.06
PSFJ $35.85
52W range

ETF.net Grade

NVBW: Cost 37, Risk 47, Mission not scored, Tradability 59, Holdings 58, Durability 57. PSFJ: Cost 85, Risk 29, Mission not scored, Tradability 50, Holdings not scored, Durability 57.
Pillar letters and Scores for NVBW, PSFJ, with each pillar’s weight
PillarNVBWPSFJ
Cost30% weightD37A85Higher
Mission25% weightNot scoredNot scored
Risk15% weightC47HigherD29
Tradability15% weightB59HigherC50
Holdings10% weightB58Not scored
Durability5% weightB57B57

Rank among S&P 500 Buffer 20% funds

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

Same Category. NVBW and PSFJ are both graded against the same 24 S&P 500 Buffer 20% funds, so their Grades compare head to head.

S&P 500 Buffer 20%⁠

Category · 24 funds
See all 24 ›

PSFJ ranks 2nd and NVBW 15th of 24 funds in the S&P 500 Buffer 20% Category.

  1. Rank 1BBALTInnovator Defined Wealth Shield ETFScore 66
  2. Rank 2BPSFDPacer Swan SOS Flex (January) ETFScore 61
  3. Rank 2BPSFJPacer Swan SOS Flex (July) ETFScore 61
  4. Rank 4BPSFOPacer Swan SOS Flex (October) ETFScore 60
  5. Rank 15CMAYWAllianzIM U.S. Equity Buffer20 May ETFScore 47
  6. Rank 15CNVBWAllianzIM U.S. Equity Buffer20 Nov ETFScore 47
  7. Rank 17CAUGWAllianzIM U.S. Equity Buffer20 Aug ETFScore 46

Our read on each fund

ETF.net Research

NVBWCAllianzIM U.S. Equity Buffer20 Nov ETF

PSFJBPacer Swan SOS Flex (July) ETF

In short

NVBW An 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.

PSFJ A 20% cushion against the S&P 500's first losses, paid for with a ceiling on the upside, reset every July 1. Pacer runs the trade for less than most of the deep-buffer crowd charges.

Stated mandate

NVBW 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.

PSFJ The Fund seeks to match, before fees and expenses, the returns of the SPDR S&P 500 ETF Trust up to a predetermined cap while buffering the first 20% of downside losses over an approximate one-year period.

Why people hold it

  • NVBW 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.
  • PSFJ Costs 0.49% a year against a 0.74% median for 20% S&P 500 buffer funds, and undercuts the 0.74% AllianzIM month-series funds (JUNW, AUGW, DECW) built on the same reference.
  • Deep cushion by design: it aims to absorb the first 20% of a decline in the SPDR S&P 500 ETF Trust over each roughly one-year period, before fees and expenses.paceretfs.com
  • Live since 2021, with several annual reset cycles behind it and sibling funds (PSFM, PSFD) covering other start months. One of the stronger builds in a crowded 20% buffer field.

Worth knowing

  • NVBW 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.
  • PSFJ The price of the cushion is a ceiling. Upside is capped at a level set when each July outcome period begins, so a roaring market leaves gains on the table.paceretfs.com
  • Buffer and cap are designed to work over the full outcome period. Buy mid-period and the cushion remaining and the room left to run differ from the stated terms.paceretfs.com
  • A smaller, thinly traded fund, so spreads can run wider than in the biggest names in the group. Income is not part of the design either.

Full NVBW profile⁠

Full PSFJ profile⁠

NVBW vs PSFJ Holdings

As of
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.

NVBW vs PSFJ Cost

Overpaying NVBW vs PSFJ

$4,515

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

  • NVBW 0.74%

    $14,307

  • PSFJ 0.49%

    $9,792

$10,000
30 years

Cost over time

  • NVBW 0.74%
  • PSFJ 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 $14,307PSFJ $9,792

Year by year

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

Expense ratio

  • 0.74%NVBW
  • 0.49%PSFJ, cheaper
  • Middle half of S&P 500 Buffer 20% funds
  • Median 0.74%

PSFJ cheapest of 24 funds

NVBW 10th cheapest of 24 funds

NVBW vs PSFJ Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
NVBW None
PSFJ None

Distribution history

NVBWAll NVBW payments⁠

No distribution history available.

PSFJAll PSFJ payments⁠

No distribution history available.

NVBW vs PSFJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NVBW 4.6%, betterPSFJ 7.1%
Return per unit of riskSharpe ratio, 3 years
NVBW 1.35PSFJ 1.51, better
Worst fallMax drawdown, 5 years
NVBW −8.4%since Nov 2022PSFJ −12.2%since Nov 2021
Market sensitivityBeta, 5 years
NVBW 0.40PSFJ 0.55

NVBW and PSFJ in the news

All news⁠

Popular comparisons

  • NVBWCvsBALTB

    AllianzIM U.S. Equity Buffer20 Nov ETF · Innovator Defined Wealth Shield ETF

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

  • PSFJBvsBALTB

    Pacer Swan SOS Flex (July) ETF · Innovator Defined Wealth Shield ETF

    Expense ratio
    0.49% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NVBWCvsPSFDB

    AllianzIM U.S. Equity Buffer20 Nov ETF · Pacer Swan SOS Flex (January) ETF

    Expense ratio
    0.74% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PSFJBvsPSFDB

    Pacer Swan SOS Flex (July) ETF · Pacer Swan SOS Flex (January) ETF

    Expense ratio
    0.49% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • NVBWCvsPSFOB

    AllianzIM U.S. Equity Buffer20 Nov ETF · Pacer Swan SOS Flex (October) ETF

    Expense ratio
    0.74% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • PSFJBvsPSFOB

    Pacer Swan SOS Flex (July) ETF · Pacer Swan SOS Flex (October) ETF

    Expense ratio
    0.49% · 0.49%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.