NBFR vs SPY
Innovator Nasdaq-100 Managed 10 Buffer ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | NBFR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $14M | $789.1B | |
| Dividend Yield | 0.02% | 1.01% | |
| Holdings | 39 | 505 | |
| YTD Return | +6.39% | +14.47% | |
| 1Y Return | - | +21.96% | |
| 3Y Return (annualized) | - | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -8.5% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 24, 2026 | Jan 22, 1993 |
NBFR vs SPY Performance
Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, NBFR is up 6.39% versus a gain of 14.47% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -8.5% for NBFR and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
NBFR charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, NBFR currently yields 0.02% against 1.01% for SPY.
Holdings Overlap
NBFR and SPY share 35 holdings out of 507 unique holdings combined, representing a 42.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, NBFR or SPY?
NBFR has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
What is the holdings overlap between NBFR and SPY?
NBFR and SPY share 35 common holdings with a 42.4% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, NBFR or SPY?
NBFR yields 0.02% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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