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Launched

AllianzIM U.S. Equity Buffer20 Jan ETF

JANWCboeC

$39.79−0.01 (−0.03%)

As of Oct 13, 2026, 3:59 PM

C52/ 100

Rank 10 of 24 in S&P 500 Buffer 20%

C52/100Rank 10 of 24inS&P 500 Buffer 20%
Intraday session: down, 46 prints from 39.80 to 39.79. Range 39.79 to 39.85. Use the arrow keys to read each point.39.8139.8239.8339.8439.8510 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$360M
1Y total return
+10.7%
Yield · Last 12 months
—
Holdings
2
Avg volume · 30D
0M sh
NAV per share
$39.80
52W range
low $35.89high $39.82
Launched

The ETF.net JANW Grade

Based on 5 of 6 pillars

C

Score 52 out of 100

Category
S&P 500 Buffer 20%⁠
Rank
10 of 24
Six-pillar profile for JANW. Scores out of 100: Cost 37, Risk 48, Mission not scored, Tradability 80, Holdings 52, Durability 73. Strongest: Tradability (80). Weakest: Cost (37). Based on 5 of 6 pillars.

Score 52 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D37 out of 100
    Rank 10 of 24

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C48 out of 100
    Rank 11 of 23

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A80 out of 100
    Rank 2 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C52 out of 100
    Rank 10 of 12

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A73 out of 100
    Rank 4 of 24

Our read on JANW

ETF.net Research

CA 20% cushion on the S&P 500 that runs on the calendar. JANW resets every January 1 and settles December 31, trading away upside above a cap set at each reset in exchange for absorbing the first 20% of the reference ETF's decline.

Stated mandate

The Fund is designed to match the Underlying ETF’s share-price return through the outcome period up to a specified upside cap, while limiting downside losses with a 20% buffer before fees and expenses.

Why people hold it

  1. 01The outcome period runs January 1 to December 31, so the hedge lines up with the calendar year instead of some odd mid-month anniversary.
  2. 02A 20% buffer sits at the deep end of the category: it is designed to absorb the first 20% of the SPDR S&P 500 ETF Trust's price decline over the period, before fees.
  3. 03AllianzIM runs the same Buffer20 structure with other start months (MAYW, JUNW, AUGW, DECW), so a January reset is a choice and laddering across months is possible.
  4. 04Launched at the end of 2020, it has rolled through the reset cycle for years and holds a few hundred million in assets, not a launch-week experiment.

Worth knowing

  1. 01Buffer and cap are period math, before fees. Buy mid-year and you get whatever cushion and upside remain, not the terms printed each January.
  2. 02The 0.74% fee matches the deep-buffer median but runs above cohort peers PSFJ and PSFM at 0.49% and PBFR at 0.50%.
  3. 03Thinly traded next to the biggest buffer funds, which can mean wider spreads, and it has not been paying distributions.

JANW Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
2
Top-10 weight
106%
Largest holding
4SPY 261231C00005110105.3%

Sectors

  • Technology40.1%
  • Financials11.3%
  • Communication9.9%
  • Health Care9.4%
  • Consumer Discretionary8.7%
  • Industrials7.6%
  • Consumer Staples4.4%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • Materials1.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0014SPY 261231C00005110Spy 12/31/2026 5.11 C105.25%4,919$379M1
0024SPY 261231P00681990Spy 12/31/2026 681.99 P0.46%4,919$2M1

Showing 1–2 of 2 holdings

JANW Performance

Launched Dec 31, 2020

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

Not enough history yet.
JANW$11,071
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. JANW $11,071. SPY $12,044. Use the arrow keys to read each point.$9,582$10,912$12,243Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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 JANW. Periods over one year show the average yearly return.
PeriodJANW
Year to date+7.5%
1 month+0.9%
3 months+2.4%
1 year+10.7%
3 yearsper year+11.0%
5 yearsper year+8.6%
10 yearsFund is under 10 years oldper 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 JANW
YearReturn barJANW
2026 YTD+7.5%
2025+10.1%
2024+11.0%
2023+14.6%
2022−0.6%
2021+7.0%

History from Jan 4, 2021

JANW in the news

Filtered to JANW · S&P 500 Buffer 20%

JANW Dividends

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

No distributions in the last 12 months.

JANW Risk

How much the fund’s monthly returns vary, scaled to a year.
4.9%
Annualised · 36 months to Sep 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.
1.29
vs 3-month T-bills · to Sep 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.
−9.7%
Trough Jun 2022
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.
0.35
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.

JANW Cost

Expense ratio0.74%
  • The middle half of S&P 500 Buffer 20% funds
  • Median 0.74%

9 of the 24 S&P 500 Buffer 20% funds charge less.

JANW costs $74.00 a year on $10,000. The median S&P 500 Buffer 20% fund costs $74.00.

Other funds in S&P 500 Buffer 20%

See others