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JANW

GradeCChicago Board Options Exchange

AllianzIM U.S. Equity Buffer20 Jan ETF

Buffered · AllianzIM · Inception 2020-12-31

$39.58−0.05 (−0.13%)

As of Sep 23, 2026, 3:06 PM EDT

Intraday session: down, 57 prints from 39.63 to 39.58. Range 39.55 to 39.63. Use the arrow keys to read each point.$39.56$39.60$39.6210 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$356M
1Y return
+9.8%
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0M sh
NAV per share
$39.61
52W range
low $35.89high $39.66

The ETF.net JANW Grade

C

52/ 100

Rank 8 of 24 in S&P 500 Buffer 20%⁠

Confidence Medium

Six-pillar profile for JANW. Scores out of 100: Cost 37, Risk 49, Mission not scored, Tradability 82, Holdings 54, Durability 70. Strongest: Tradability (82). Weakest: Cost (37). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 52 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.
    DScore 37
    Category rank14/24 · mid-pack

  • 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 49
    Category rank10/22 · top 45%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 82
    Category rank2/24 · top 8%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 54
    Category rank9/12 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 70
    Category rank4/24 · top 17%

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

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 Sep 20, 2026, 9:12 AM
Asset class
Stocks
Holdings
5
Top-10 weight
105%
Largest holding
4SPY 261231C00005110103.9%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0014SPY 261231C00005110SPY 12/31/2026 5.11 C103.88%4,895$369M1
0024SPY 261231P00681990SPY 12/31/2026 681.99 P0.83%4,895$3M1

Showing 1–2 of 2 holdings

JANW Performance

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

JANW$10,978
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. JANW $10,978. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 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 JANW. Periods over one year show the average yearly return.
PeriodJANW
Year to date+7.0%
1 month+0.7%
3 months+2.6%
1 year+9.8%
3 years+11.1%per year
5 years+8.5%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 JANW
YearReturn barJANW
2026 YTD+7.0%
2025+10.1%
2024+11.0%
2023+14.6%
2022−0.6%
2021+7.0%

History from Jan 4, 2021

JANW in the news

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

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.
5.0%
Annualised · 36 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.
1.11
vs 3-month T-bills · 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.
−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.