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MAYW

GradeCChicago Board Options Exchange

AllianzIM U.S. Equity Buffer20 May ETF

Buffered · AllianzIM · Inception 2023-04-28

$35.53−0.12 (−0.34%)

As of Sep 23, 2026, 3:05 PM EDT

History starts May 1, 2023.
Intraday session: down, 45 prints from 35.65 to 35.53. Range 35.39 to 35.59. Use the arrow keys to read each point.$35.40$35.45$35.50$35.6010 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$456M
1Y return
+8.1%
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0.2M sh
NAV per share
$35.59
52W range
low $32.74high $35.66

The ETF.net MAYW Grade

C

50/ 100

Rank 13 of 24 in S&P 500 Buffer 20%⁠

Confidence Medium

Six-pillar profile for MAYW. Scores out of 100: Cost 37, Risk 59, Mission not scored, Tradability 60, Holdings 62, Durability 61. Strongest: Holdings (62). Weakest: Cost (37). 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.
    DScore 37
    Category rank18/24 · bottom quartile

  • 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.
    BScore 59
    Category rank4/22 · top 18%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 60
    Category rank10/24 · top 42%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 62
    Category rank5/12 · top 42%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 61
    Category rank8/24 · top 33%

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

Our read on MAYW

ETF.net Research

CA 20% cushion on the S&P 500, reset every May. MAYW holds a year of FLEX options on the SPDR S&P 500 ETF Trust: the first 20% of a drop gets absorbed, and upside stops at a cap set fresh each period.

Stated mandate

The Fund uses FLEX Options tied to the SPDR S&P 500 ETF Trust to seek the ETF’s share-price return through the current Outcome Period, subject to an upside cap and a 20% downside buffer.

Why people hold it

  1. 01Deep cushion by design: the options package aims to absorb the first 20% of the SPDR S&P 500 ETF Trust's price decline over the outcome period.
  2. 02Terms are known upfront. Each May 1 the fund starts a new 12-month period with a new cap, so the trade-off is spelled out before the clock runs.
  3. 03One of the stronger builds in the 20% S&P 500 buffer group, with enough size and turnover to trade without drama.

Worth knowing

  1. 01The cap is what pays for the buffer. Gains above it stay on the table, and the fund targets share-price return, so S&P dividends aren't part of the package.
  2. 02Buffer and cap are measured May 1 to April 30. Step in mid-period and your actual cushion and ceiling differ from the headline terms.
  3. 03At 0.74% it sits right at the group median, but cheaper 20% buffer builds exist (PBFR at 0.50%, PSFM at 0.49%).

MAYW Holdings

As of Sep 20, 2026, 9:12 AM
Asset class
Stocks
Holdings
5
Top-10 weight
104%
Largest holding
4SPY 270430C00005390101.6%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
0014SPY 270430C00005390SPY 04/30/2027 5.39 C101.65%6,124$461M1
0024SPY 270430P00718730SPY 04/30/2027 718.73 P2.53%6,124$11M1

Showing 1–2 of 2 holdings

MAYW Performance

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

MAYW$10,812
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. MAYW $10,812. 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 MAYW. Periods over one year show the average yearly return.
PeriodMAYW
Year to date+6.0%
1 month+0.7%
3 months+2.5%
1 year+8.1%
3 years+11.4%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 MAYW
YearReturn barMAYW
2026 YTD+6.0%
2025+10.3%
2024+12.1%
2023+8.2%

History from May 1, 2023

MAYW in the news

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

MAYW Dividends

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

No distributions in the last 12 months.

MAYW Risk

How much the fund’s monthly returns vary, scaled to a year.
3.8%
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.
1.51
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.
−7.9%
40 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.
0.25
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.

MAYW 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.

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