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Beacon

APRWAllianzIM U.S. Equity Buffer20 Apr ETF

Grow my money6y track recordRanked #1,646 of 2,998 in this goal

Seeks to match the share price returns of the SPDR S&P 500 ETF Trust with a 20% buffer against losses.

By AllianzIM · Launched 2020

Annual Cost

0.74%

#3,781 of 5,861 · average

Fund Size

$199M

#2,360 of 5,861 · mid-size

Return (1Y)Goal

+10.9%

Track Record

6 years

#2,070 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,103+11.0%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 4 holdings = 100.1% of fundconcentrated

SPY 03/31/2027 4.88 C4SPY 270331C00004880
105.9%
SPY 03/31/2027 650.41 P4SPY 270331P00650410
3.5%
SPY 03/31/2027 520.27 P4SPY 270331P00520270
-1.2%
SPY 03/31/2027 727.67 C4SPY 270331C00727670
-8.1%

Asset allocation

Stocks
99.7%
Cash
0.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.8%Low

Year-on-year price swings

Max drawdown
-9.6%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.90Decent risk-adjusted returns
Sortino (3Y)
1.29Good downside protection

Listing

Exchange
NYSE Arca, Cboe BZX

Full fund details

Objective
Seeks to match the share price returns of the SPDR S&P 500 ETF Trust with a 20% buffer against losses.
Strategy
Pursues a buffered strategy to match the share price returns of the SPDR S&P 500 ETF Trust, providing a 20% buffer against losses. Invests primarily in FLEX Options referencing the Underlying ETF, with an Outcome Period from April 1 to March 31.
Inception date
May 28, 2020
Fund family
AllianzIM

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

You can build this cheaper yourself

Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.

Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04