AllianzIM Buffer20 Allocation ETF
$29.51+0.05 (+0.17%)
- 0.79%
- $94M
- +10.3%
- 0M sh
- $29.52
- low $26.74high $29.83
The ETF.net SPBW Grade
D
Score 35 out of 100
- 14 of 18
Score 35 of 100 falls in the D 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.F15 out of 100Rank 15 of 18Mission
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.A70 out of 100Rank 4 of 18Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F17 out of 100Rank 18 of 18Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A72 out of 100Rank 3 of 18Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D36 out of 100Rank 13 of 18
Our read on SPBW
DTwelve AllianzIM Buffer20 funds in one ticker, one for each calendar month. Instead of picking a start date and living with its cap for a year, you hold a rolling ladder built on the S&P 500.
SPBW seeks capital appreciation with downside-risk mitigation by holding a roughly equal, laddered portfolio of twelve U.S. Equity Buffer20 ETFs. The underlying funds reference SPY and seek capped upside plus protection against the first 20% of SPY losses over one-year periods; SPBW itself has no stated buffer or cap.
Why people hold it
- One ticker holds twelve Buffer20 funds, one per month, each resetting its own buffer and cap on its own annual clock. No start-date roulette, no rolling it yourself.
- The underlying funds are built to absorb the first 20% of the reference index's losses over each one-year period, in exchange for a capped upside.
- A roughly equal-weight sleeve of the issuer's own monthly Buffer20 funds, all pointed at the S&P 500. What's on the tin is what's in the box.
Worth knowing
- At 0.79% it sits above the typical fee in its buffer-ladder group, and rival ladders such as PBFR (0.50%) charge less for a similar job.
- The fund itself has no stated buffer or cap. Downside cushioning is a blend of twelve staggered periods, not a clean 20% floor at any one moment.
- Launched in 2025 and thinly traded, so there's little history to judge and spreads can run wider than the category's heavyweights.
SPBW Holdings
- Stocks
- 13
- 84%
- DECW
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%
Geography
- United States100.00%
SPBW Performance
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.Not enough history yet.
SPBW$11,025
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 | SPBW |
|---|---|
| Year to date | +7.4% |
| 1 month | +0.6% |
| 3 months | +2.1% |
| 1 year | +10.3% |
| 3 years | — |
| 5 years | — |
| 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 | SPBW |
|---|---|---|
| 2026 YTD | +7.4% | |
| 2025 | +9.6% |
SPBW in the news
Filings Digest
AllianzIM launches OCTI and resets October buffer terms
SPBW Dividends
No distributions in the last 12 months.
SPBW Risk
- 4.8%
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.
- 1.06
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.
- −8.7%
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.
- 0.36
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SPBW Cost
0.79%
SPBW0.79%
- The middle half of S&P 500 Laddered Buffer funds
- Median 0.25%
14 of the 18 S&P 500 Laddered Buffer funds charge less.
Other funds in S&P 500 Laddered Buffer
- CIVVMiShares Large Cap Moderate Quarterly Laddered ETFExpense ratio 0.53%1 year return +13.9%
- CLADMPacer Funds Trust - Pacer Swan SOS Laddered Moderate ETFExpense ratio 0.10%1 year return —
- DBFRZInnovator Equity Managed 100 Buffer ETFExpense ratio 0.89%1 year return +4.5%
- DIVVBiShares Large Cap Deep Quarterly Laddered ETFExpense ratio 0.53%1 year return +12.3%
- DSPBXAllianzIM 6 Month Buffer10 Allocation ETFExpense ratio 0.79%1 year return +13.1%