
AllianzIM U.S. Equity Buffer20 Jan ETF
$39.79−0.01 (−0.03%)
- 0.74%
- $360M
- +10.7%
- 0M sh
- $39.80
- low $35.89high $39.82
The ETF.net JANW Grade
Score 52 out of 100
- 10 of 24
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 100Rank 10 of 24Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C48 out of 100Rank 11 of 23Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A80 out of 100Rank 2 of 24Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C52 out of 100Rank 10 of 12Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A73 out of 100Rank 4 of 24
Our read on JANW
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.
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
- The outcome period runs January 1 to December 31, so the hedge lines up with the calendar year instead of some odd mid-month anniversary.
- A 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.
- AllianzIM 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.
- Launched 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
- Buffer and cap are period math, before fees. Buy mid-year and you get whatever cushion and upside remain, not the terms printed each January.
- The 0.74% fee matches the deep-buffer median but runs above cohort peers PSFJ and PSFM at 0.49% and PBFR at 0.50%.
- Thinly traded next to the biggest buffer funds, which can mean wider spreads, and it has not been paying distributions.
JANW Holdings
- Stocks
- 2
- 106%
- 4SPY 261231C00005110
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%
JANW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | JANW |
|---|---|
| Year to date | +7.5% |
| 1 month | +0.9% |
| 3 months | +2.4% |
| 1 year | +10.7% |
| 3 years | +11.0% |
| 5 years | +8.6% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | JANW |
|---|---|---|
| 2026 YTD | +7.5% | |
| 2025 | +10.1% | |
| 2024 | +11.0% | |
| 2023 | +14.6% | |
| 2022 | −0.6% | |
| 2021 | +7.0% |
JANW in the news
JANW Dividends
No distributions in the last 12 months.
JANW Risk
- 4.9%
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.
- 1.29
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.
- −9.7%
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.
- 0.35
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
- 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.
Other funds in S&P 500 Buffer 20%
- CJULWAllianzIM U.S. Equity Buffer20 Jul ETFExpense ratio 0.74%1 year return +9.9%
- CAPRWAllianzIM U.S. Equity Buffer20 Apr ETFExpense ratio 0.74%1 year return +11.6%
- CJUNWAllianzIM U.S. Equity Buffer20 Jun ETFExpense ratio 0.74%1 year return +8.0%
- CMAYWAllianzIM U.S. Equity Buffer20 May ETFExpense ratio 0.74%1 year return +8.9%
- CSEPWAllianzIM U.S. Equity Buffer20 Sep ETFExpense ratio 0.74%1 year return +10.0%

