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Launched

AllianzIM U.S. Equity Buffer10 Sep ETF

SEPTCboeAllianzIMB

$38.08−0.11 (−0.29%)

As of Nov 2, 2026, 3:59 PM ET

B56/ 100

Rank 23 of 77 in S&P 500 Buffer 9-12%

B56/100Rank 23 of 77inS&P 500 Buffer 9-12%
Intraday session: down, 78 prints from 38.19 to 38.08. Range 38.08 to 38.47. Use the arrow keys to read each point.38.3038.4010 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$38M
1Y total return
+9.9%
Yield · Last 12 months
No data
Holdings
2
Avg volume · 30D
4.03K sh
52W range
low $33.63high $38.99
Launched

The ETF.net SEPT Grade

Based on 5 of 6 pillars

B

Score 56 out of 100

Category
S&P 500 Buffer 9-12%⁠
Rank
23 of 77
Six-pillar profile for SEPT. Scores out of 100: Cost 68, Risk 60, Mission not scored, Tradability 38, Holdings 58, Durability 33. Strongest: Cost (68). Weakest: Durability (33). Based on 5 of 6 pillars.

Score 56 of 100 falls in the B 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.
    B68 out of 100
    Rank 17 of 77

  • 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.
    B60 out of 100
    Rank 24 of 77

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D38 out of 100
    Rank 50 of 77

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B58 out of 100
    Rank 22 of 45

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D33 out of 100
    Rank 64 of 77

Our read on SEPT

ETF.net Research

In short

BThe September link in AllianzIM's buffer chain: FLEX options on the SPDR S&P 500 ETF that absorb the first 10% of a year's losses in exchange for a capped upside, with terms reset every September 1. Priced below the buffer-fund median.

Stated mandate

The actively managed ETF seeks to match the share-price return of the SPDR S&P 500 ETF Trust at the end of each one-year Outcome Period, subject to an upside Cap and a buffer against the first 10% of losses. It primarily uses FLEX Options referencing that ETF.

Why people hold it

  • Cheaper than the typical buffer fund at 0.74% a year against a 0.79% median for its shallow-buffer cohort, and it undercuts several rival dated buffers charging 0.79%.
  • The deal is spelled out before you own it: a 10% buffer against losses in the reference ETF and a stated upside cap, both fixed for a one-year outcome period that restarts each September 1.
  • Part of a full AllianzIM buffer lineup priced at the same 0.74%, including six-month siblings SIXZ, SIXD and SIXJ, so a September start date can be laddered with other reset calendars.
  • Running since 2023 and rated among the stronger builds in a crowded 52-fund shallow-buffer field.

Worth knowing

  • Upside is capped, and both cap and buffer apply across the full outcome period. Buy mid-period and your actual protection and ceiling differ from the headline terms.
  • It targets the share-price return of the SPDR S&P 500 ETF Trust, so index dividends are not passed along, and the fund has not been paying out income.
  • A small, thinly traded fund next to the category's giants, so spreads can be wider and limit orders matter more.

SEPT Performance

Launched Aug 31, 2023

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.Not enough history yet.
SEPT$10,995
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SEPT $10,995. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 SEPT. Periods over one year show the average yearly return.
PeriodSEPT
Year to date+8.6%
1 month−0.6%
3 months+0.7%
1 year+9.9%
3 yearsper year+16.9%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 SEPT
YearReturn barSEPT
2026 YTD+8.6%
2025+14.9%
2024+16.4%
2023+4.8%

History from Sep 1, 2023

SEPT in the news

SEPT Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

SEPT Risk

Risk pillarB60 out of 100Rank 24 of 77 in S&P 500 Buffer 9-12%
How much the fund’s monthly returns vary, scaled to a year.
7.7%
Annualised · 36 months to Oct 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 Oct 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.
−12.8%
37 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.
0.61
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.

FMP measures it over up to five years of monthly returns.

SEPT Cost

Compare SEPT and XTR

Overpaying vs XTR, cheapest in S&P 500 Buffer 9-12%

$9,148

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SEPT 0.74%

    $14,307

  • XTR 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • SEPT 0.74%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530SEPT $14,307XTR $5,159

Year by year

YearSEPTXTROverpaying
10$1,319$455$864
20$5,015$1,769$3,246
30$14,307$5,159$9,148

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