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STEN vs XTR

iShares Large Cap 10% Target Buffer Sep ETF

STENBCboe

Global X S&P 500 Tail Risk ETF

XTRCNYSE Arca

Overlap

Expense ratio

XTR −0.28pt a year

STEN0.53%XTR0.25%

Avg volume · 30D

STEN 8.2×the volume

STEN13.5KXTR1.64K

STEN vs XTR Performance

Oct 31, 2025 – Oct 30, 2026

+11.8%STEN+7.9%XTR

Oct 31, 2025 to Oct 30, 2026. STEN +11.8%. XTR +7.9%. Use the arrow keys to read each point.−5%0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
STEN 0.53%
XTR 0.25%, better
Fund size
STEN $58M
XTR $5M
1Y total return
STEN +11.8%, better
XTR +7.9%
Yield (12M)
STEN No data
XTR 16.45%
Holdings
STEN 4
XTR 506
Avg volume (30D)
STEN 13.5K sh, better
XTR 1.64K sh
NAV per share
STEN $28.26
XTR $28.54
52W range

ETF.net Grade

STEN: Cost 86, Risk 40, Mission not scored, Tradability 38, Holdings 51, Durability 48. XTR: Cost 100, Risk 18, Mission not scored, Tradability 13, Holdings 85, Durability 46.
Pillar letters and Scores for STEN, XTR, with each pillar’s weight
PillarSTENXTR
Cost30% weightA86A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightC40HigherF18
Tradability15% weightD38HigherF13
Holdings10% weightC51A85Higher
Durability5% weightC48HigherC46

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. STEN and XTR 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 ›

STEN ranks 16th and XTR 57th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 16BFEBTAllianzIM U.S. Equity Buffer10 Feb ETFScore 59
  2. Rank 16BSTENiShares Large Cap 10% Target Buffer Sep ETFScore 59
  3. Rank 18BDECTAllianzIM U.S. Equity Buffer10 Dec ETFScore 58
  4. Rank 57CXIDEFT Vest U.S. Equity Buffer & Premium Income ETF - DecemberScore 40
  5. Rank 57CXTRGlobal X S&P 500 Tail Risk ETFScore 40
  6. Rank 64DJULZTrueshares Structured Outcome (July) ETFScore 39

Our read on each fund

ETF.net Research

STENBiShares Large Cap 10% Target Buffer Sep ETF

XTRCGlobal X S&P 500 Tail Risk ETF

In short

STEN No data

XTR Most downside-protection ETFs sell away your upside to pay for it. XTR pays cash instead: it owns the S&P 500 stocks and buys 10% out-of-the-money puts every quarter, leaving the upside uncapped.

Stated mandate

STEN No data

XTR The Fund seeks to track the performance of the Cboe S&P 500 Tail Risk Index before fees and expenses.

Why people hold it

STEN No data

  • XTR No cap on the gains. The hedge is bought with cash rather than funded by selling calls, so index rallies come through less the put premium and fees.sec.gov
  • Costs 0.25%, well under half of what the defined-outcome funds it competes with typically charge for downside protection.
  • Owns the roughly 500 S&P 500 stocks themselves, with the put position layered on top, rather than wrapping the index in a stack of options.sec.gov
  • Rules-based and mechanical: puts are bought at 10% below the prevailing index level each quarter and held to expiration, with no manager guessing at timing.sec.gov

Worth knowing

STEN No data

  • XTR Protection starts about 10% down and resets quarterly, so garden-variety dips are absorbed in full and the gap widens if the market rallies mid-quarter.sec.gov
  • Insurance is not free. The quarterly premium is a steady cost against plain index exposure, and in calm markets the puts expire worthless.sec.gov
  • A small fund that trades thinly, so limit orders matter and subscale products carry more risk of being closed than the category's giants.

Full STEN profile⁠

Full XTR profile⁠

STEN vs XTR 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.

STEN vs XTR Cost

Overpaying STEN vs XTR

$5,377

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

  • STEN 0.53%

    $10,536

  • XTR 0.25%

    $5,159

$10,000
30 years

Cost over time

  • STEN 0.53%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530STEN $10,536XTR $5,159

Year by year

YearSTENXTROverpaying
10$953$455$498
20$3,658$1,769$1,889
30$10,536$5,159$5,377

Expense ratio

  • 0.53%STEN
  • 0.25%XTR, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

XTR cheapest of 77 funds

STEN 11th cheapest of 77 funds

STEN vs XTR Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
STEN No data
XTR 16.45%
Payout (12M)
STEN No data
XTR $4.69
Last payment
STEN $0.08
XTR $0.08
Ex-dividend
STEN Dec 23, 2025
XTR Jun 29, 2026
Paid on
STEN Dec 29, 2025
XTR Jul 2, 2026
Frequency
STEN Irregular
XTR Twice a year

Distribution history

Per share, 2021 to 2026, same scale for both

STENIrregular · 1 paymentAll STEN payments⁠
One bar per payment. 1 payment from 2021 to 2026 YTD. Dec 23, 2025 $0.08. Use the arrow keys to read each point.$0$520232026YTD
XTRTwice a year · 10 paymentsAll XTR payments⁠
One bar per payment. 10 payments from 2021 to 2026 YTD. Dec 30, 2021 $0.64; Jun 29, 2022 $0.10; Dec 29, 2022 $0.15; Jun 29, 2023 $0.10; Dec 28, 2023 $0.19; Jun 27, 2024 $0.17; Dec 30, 2024 $5.55; Jun 27, 2025 $0.11; Dec 30, 2025 $4.61; Jun 29, 2026 $0.08. Use the arrow keys to read each point.$0$520232026YTD

STEN vs XTR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
STEN 9.3%since Nov 2025XTR 11.7%
Return per unit of riskSharpe ratio, 3 years
STEN 0.83since Nov 2025XTR 1.19
Worst fallMax drawdown, 5 years
STEN −6.2%since Oct 2025XTR −20.8%
Market sensitivityBeta, 5 years
STEN 0.69XTR 0.94

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