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Launched

AllianzIM U.S. Equity Buffer20 Sep ETF

SEPWCboeAllianzIMC

$33.74−0.07 (−0.21%)

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

C52/ 100

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

C52/100Rank 10 of 24inS&P 500 Buffer 20%
Intraday session: down, 78 prints from 33.81 to 33.74. Range 33.74 to 34.01. Use the arrow keys to read each point.33.8533.9033.9534.0010 AM12 PM2 PM4 PM
Expense ratio
0.74%
Fund size
$213M
1Y total return
+7.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
47K sh
52W range
low $31.09high $34.71
Launched

The ETF.net SEPW 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 SEPW. Scores out of 100: Cost 37, Risk 41, Mission not scored, Tradability 83, Holdings 69, Durability 55. Strongest: Tradability (83). 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.
    C41 out of 100
    Rank 19 of 23

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A83 out of 100
    Rank 2 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B69 out of 100
    Rank 2 of 13

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B55 out of 100
    Rank 13 of 24

Our read on SEPW

ETF.net Research

In short

CSeptember's door into AllianzIM's deep-buffer series: SEPW absorbs the first 20% of a year's decline in the SPDR S&P 500 ETF Trust's share price, and trades away upside above a cap that resets every September 1.

Stated mandate

The fund seeks to track the share-price return of the SPDR S&P 500 ETF Trust through the current outcome period, subject to an upside cap, while protecting the first 20% of underlying losses. Fees reduce the stated cap and buffer.

Why people hold it

  • Deep end of the buffer world: the first 20% of the reference ETF's price decline over a full outcome period is absorbed. Fees reduce the stated buffer and cap.
  • A 1940 Act ETF, not a bank-issued note, so no single issuer's balance sheet sits between the strategy and the payoff.
  • One month in a series: March and May siblings run the same 20% buffer on the same reference, so the start date isn't dictated by a single point on the calendar.

Worth knowing

  • Cost sits at the top of the deep-buffer group: 0.74%, against 0.50% at PGIM's laddered PBFR and 0.49% at the Pacer Swan flex funds (PSFJ, PSFM).
  • The reference is a share price, so S&P 500 dividends don't count toward the capped return, and income isn't part of the design.
  • Bought mid-period, the effective buffer and cap differ from the headline terms, which apply across a complete outcome period.

SEPW 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.
SEPW$10,716
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. SEPW $10,716. 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 SEPW. Periods over one year show the average yearly return.
PeriodSEPW
Year to date+5.9%
1 month−0.2%
3 months+0.4%
1 year+7.2%
3 yearsper year+11.8%
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 SEPW
YearReturn barSEPW
2026 YTD+5.9%
2025+10.4%
2024+11.1%
2023+3.7%

History from Sep 1, 2023

SEPW in the news

SEPW Dividends

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

No distributions in the last 12 months.

SEPW Risk

Risk pillarC41 out of 100Rank 19 of 23 in S&P 500 Buffer 20%
How much the fund’s monthly returns vary, scaled to a year.
4.9%
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.
1.41
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.
−8.4%
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.
0.39
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.

SEPW Cost

Compare SEPW and PSFD

Overpaying vs PSFD, tied cheapest in S&P 500 Buffer 20%

$4,515

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

  • SEPW 0.74%

    $14,307

  • PSFD 0.49% Tied cheapest

    $9,792

$10,000
30 years

Cost over time

  • SEPW 0.74%
  • PSFD 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530SEPW $14,307PSFD $9,792

Year by year

YearSEPWPSFDOverpaying
10$1,319$883$436
20$5,015$3,394$1,621
30$14,307$9,792$4,515

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