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Launched

AllianzIM 6 Month Buffer10 Allocation ETF

SPBXCboeAllianzIMC

$29.59−0.10 (−0.35%)

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

C52/ 100

Rank 8 of 18 in S&P 500 Laddered Buffer

C52/100Rank 8 of 18inS&P 500 Laddered Buffer
Intraday session: down, 77 prints from 29.70 to 29.59. Range 29.59 to 29.92. Use the arrow keys to read each point.29.6529.7529.8029.8529.9010 AM12 PM2 PM4 PM
Expense ratio
0.79%*
Fund size
$107M
1Y total return
+9.6%
Yield · Last 12 months
No data
Holdings
7
Avg volume · 30D
28.4K sh
52W range
low $26.61high $33.67
Launched

*After a fee waiver that ends Feb 28, 2027. Without it: 0.84%.

The ETF.net SPBX Grade

Based on 5 of 6 pillars

C

Score 52 out of 100

Category
S&P 500 Laddered Buffer⁠
Rank
8 of 18
Six-pillar profile for SPBX. Scores out of 100: Cost 62, Risk 57, Mission not scored, Tradability 48, Holdings 41, Durability 21. Strongest: Cost (62). Weakest: Durability (21). 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.
    B62 out of 100
    Rank 7 of 18

  • 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.
    B57 out of 100
    Rank 10 of 18

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C48 out of 100
    Rank 8 of 18

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C41 out of 100
    Rank 14 of 18

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F21 out of 100
    Rank 16 of 18

Our read on SPBX

ETF.net Research

In short

CMost buffer ETFs make you pick a start month and babysit the roll. SPBX holds AllianzIM's entire six-month Buffer10 lineup in equal weight, so one sleeve resets to a fresh 10% buffer and a new cap every month.

Stated mandate

The Fund seeks capital appreciation while mitigating downside risk through a laddered portfolio of six U.S. equity buffered ETFs tied to SPY exposure.

Why people hold it

  • One ticker, six sleeves. Each underlying fund buffers the first 10% of SPDR S&P 500 ETF Trust losses over its own six-month window, and one of them resets with a fresh buffer and a new cap each month.allianzim.comsec.gov
  • Six-month outcome periods re-strike twice a year, so the buffer and cap reset against more recent index levels than the standard 12-month buffered ETF.allianzim.comallianzim.com 2
  • Laddering across the full suite means no single start date defines your result. You hold six staggered periods at once instead of one, and the rebalancing work sits with the manager.allianzim.com
  • At 0.79% all-in, it prices right at the middle of the buffer-fund pack rather than at a premium for the wrapper.

Worth knowing

  • Most of that 0.79% is the underlying funds' own fees. The 0.10% management fee is cut to 0.05% only through at least February 2027, and cheaper ladders exist (BUFP at 0.50%).allianzim.com
  • Every sleeve's upside stops at its cap, and the 10% buffer is stated before fees and measured over that sleeve's six-month period, not from the day you buy.allianzim.comallianzim.com 2
  • Launched in 2025 and lightly traded, so the record is short by buffer-fund standards and spreads can run wider than the category's largest names.

SPBX Performance

Launched Jan 7, 2025

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.
SPBX$10,963
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. SPBX $10,963. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 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 SPBX. Periods over one year show the average yearly return.
PeriodSPBX
Year to date+8.1%
1 month−0.5%
3 months+1.0%
1 year+9.6%
3 yearsFund is under 3 years oldper yearNo data
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 SPBX
YearReturn barSPBX
2026 YTD+8.1%
2025+9.9%

History from Jan 8, 2025

SPBX in the news

SPBX Dividends

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

No distributions in the last 12 months.

SPBX Risk

Risk pillarB57 out of 100Rank 10 of 18 in S&P 500 Laddered Buffer
How much the fund’s monthly returns vary, scaled to a year.
6.3%
Annualised · 21 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.
0.84
vs 3-month T-bills · 21 months 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.
−11.1%
21 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.
0.49
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.

SPBX Cost

Compare SPBX and ALDB

Overpaying vs ALDB, cheapest in S&P 500 Laddered Buffer

$9,025

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

  • SPBX 0.79%

    $15,174

  • ALDB 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • SPBX 0.79%
  • ALDB 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SPBX $15,174ALDB $6,149

Year by year

YearSPBXALDBOverpaying
10$1,405$545$860
20$5,331$2,113$3,218
30$15,174$6,149$9,025
How the 0.79% is worked out

Full fee 0.84%− waiver 0.05%= you pay 0.79%

The waiver ends Feb 28, 2027. After that the fee is 0.84% unless AllianzIM renews it. Source: prospectus, Feb 2026.

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