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FLAO

GradeCChicago Board Options Exchange

AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF

Floor Protected · AllianzIM · Inception 2024-03-28

$28.71−0.01 (−0.02%)

As of Sep 23, 2026, 1:48 PM EDT

History starts Apr 1, 2024.
Intraday session: down, 13 prints from 28.71 to 28.71. Range 28.71 to 28.74. Use the arrow keys to read each point.$28.72$28.73$28.7410 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$9M
1Y return
+2.7%
Yield · Last 12 months
—
Holdings
4
Volume · 30D
0M sh
NAV per share
$28.70
52W range
low $26.58high $28.80

The ETF.net FLAO Grade

C

50/ 100

Rank 15 of 24 in Other Floor Protected⁠

Confidence Medium

Six-pillar profile for FLAO. Scores out of 100: Cost 54, Risk 51, Mission not scored, Tradability 42, Holdings 34, Durability 56. Strongest: Durability (56). Weakest: Holdings (34). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 50 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 54
    Category rank11/24 · top 46%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 51
    Category rank11/23 · top 48%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank18/24 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 34
    Category rank10/10 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 56
    Category rank12/24 · top 50%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FLAO

ETF.net Research

CSix-month defined-outcome exposure to the SPDR S&P 500 ETF Trust: a cap on the upside, 5 points of loss protection under it, and a fresh reset every April and October, at a fee below the protected-outcome median.

Stated mandate

The Fund seeks to match the share-price return of the SPDR S&P 500 ETF Trust during the outcome period, subject to an upside cap and protection against losses of up to 5%.

Why people hold it

  1. 01At 0.74% a year it sits under the median fee in its protected-outcome cohort, and below Innovator's managed-floor rival SFLR at 0.89%.
  2. 02The outcome window runs six months (April through September, then October through March), so the cap gets re-struck twice a year instead of once.
  3. 03The yardstick is the share-price return of the SPDR S&P 500 ETF Trust, a live market quote you can watch, not a model index.
  4. 04AllianzIM runs a Jan/Jul twin, FLJJ, on the same 5% protection design, so the two together cover the calendar.

Worth knowing

  1. 01The upside is capped, and the cap is set at the start of each six-month period, so the ceiling isn't known in advance and strong rallies get clipped.
  2. 02The terms apply across a full outcome period. Step in or out mid-window and your effective cap and protection differ from the stated ones.
  3. 03A smaller, thinly traded fund launched in 2024, and built around price outcomes rather than payouts, so spreads and timing matter more than yield here.

FLAO Holdings

As of Sep 20, 2026, 9:12 AM
Asset class
Stocks
Holdings
4
Top-10 weight
111%
Largest holding
4SPY 260930C00004940110.6%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0014SPY 260930C00004940SPY 09/30/2026 4.94 C110.65%126$10M1
0024SPY 260930P00617820SPY 09/30/2026 617.82 P<0.01%126$8431

Showing 1–2 of 2 holdings

FLAO Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

FLAO$10,270
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. FLAO $10,270. SPY $11,723. Use the arrow keys to read each point.$9,330$10,636$11,942Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FLAO. Periods over one year show the average yearly return.
PeriodFLAO
Year to date+1.0%
1 month+0.5%
3 months+1.7%
1 year+2.7%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FLAO
YearReturn barFLAO
2026 YTD+1.0%
2025+3.4%
2024+10.0%

History from Apr 1, 2024

FLAO in the news

ETF.net Research hasn’t filed on FLAO yet — coverage lands here as it’s written.

FLAO Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

FLAO Risk

How much the fund’s monthly returns vary, scaled to a year.
6.8%
Annualised · 28 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.41
vs 3-month T-bills · 28 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−10.1%
29 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.48
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FLAO Cost

Expense ratio0.74%
  • The middle half of Other Floor Protected funds
  • Median 0.79%

7 of the 18 Other Floor Protected funds charge less.

FLAO costs $74.00 a year on $10,000. The median Other Floor Protected fund costs $79.50.