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Beacon

MAYWAllianzIM U.S. Equity Buffer20 May ETF

Grow my moneyDiversifier3y track recordRanked #56 of 248 in this goal

Seeks to match the share price returns of the SPDR S&P 500 ETF Trust, up to a specified upside Cap, with a 20% loss buffer.

By AllianzIM · Launched 2023

Annual Cost

0.74%

#3,644 of 5,584 · average

Fund Size

$494M

#1,583 of 5,584 · large

Return (1Y)Goal

+8.8%

Track Record

3 years

#2,996 of 5,584 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,943+9.4%

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 04/30/2026 4.16 C4SPY 260430C00004160
113.2%
SPY 04/30/2026 554.60 P4SPY 260430P00554600
0.4%
SPY 04/30/2026 443.63 P4SPY 260430P00443630
-0.1%
SPY 04/30/2026 621.08 C4SPY 260430C00621080
-13.4%

Asset allocation

Stocks
99.8%
Cash
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
3.3%Low

Year-on-year price swings

Max drawdown
-7.9%Mild

Worst peak-to-trough loss

Sharpe (3Y)
1.03Strong risk-adjusted returns
Sortino (3Y)
1.52Good 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, up to a specified upside Cap, with a 20% loss buffer.
Strategy
Invests primarily in instruments with economic characteristics similar to U.S. equity securities. Aims to provide returns matching the Underlying ETF while offering a buffer against the first 20% of losses. The Cap and Buffer are adjusted for management fees.
Inception date
April 28, 2023
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 2026-06-22