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 | $17M | $814.4B | |
| Dividend Yield | 0.02% | 1.01% | |
| Holdings | 106 | 505 | |
| YTD Return | +4.36% | +12.60% | |
| 1Y Return | - | +20.83% | |
| 3Y Return (annualized) | - | +20.98% | |
| 5Y Return (annualized) | - | +12.56% | |
| 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 4.36% versus a gain of 12.60% 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 34 holdings out of 510 unique holdings combined, representing a 44.9% 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 34 common holdings with a 44.9% weight overlap. Combined, they hold 510 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.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.