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OCTWAllianzIM U.S. Equity Buffer20 Oct ETF

Take a bet5y track recordRanked #65 of 775 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% downside buffer.

By AllianzIM · Launched 2020

Annual Cost

0.74%

#3,625 of 5,562 · average

Fund Size

$530M

#1,525 of 5,562 · large

Return (1Y)Goal

+12.4%

Track Record

5 years

#2,204 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,234+12.3%

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

Classification

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 09/30/2026 5.00 C4SPY 260930C00005000
100.5%
SPY 09/30/2026 666.25 P4SPY 260930P00666250
3.7%
SPY 09/30/2026 532.94 P4SPY 260930P00532940
-1.1%
SPY 09/30/2026 734.73 C4SPY 260930C00734730
-3.1%

Asset allocation

Stocks
99.5%
Cash
0.5%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
4.9%Low

Year-on-year price swings

Max drawdown
-8.4%Mild

Worst peak-to-trough loss

Sharpe (3Y)
1.14Strong risk-adjusted returns
Sortino (3Y)
1.67Good downside protection

Where to buy

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% downside buffer.
Strategy
Invests primarily in FLEX Options on the SPDR S&P 500 ETF Trust to achieve returns matching the Underlying ETF's performance, subject to a Cap and a 20% buffer against losses. The strategy is designed for a one-year Outcome Period, resetting annually.
Inception date
September 30, 2020
Fund family
AllianzIM

Our take

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

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

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 2026-06-20