APRT vs SIXJ

APRTBAllianzIM U.S. Equity Buffer10 Apr ETF

SIXJBAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

In short

APRT A 10% cushion on the S&P 500's price return, reset every April 1. APRT uses FLEX options to absorb the first slice of a decline across its 12-month period, and charges less than the typical buffer fund to do it.

SIXJ Most buffer ETFs lock you into a 12-month cycle. SIXJ runs a six-month one, resetting each January and July: it tracks SPY's share-price move, absorbs the first 10% of losses, and takes a fresh upside cap twice a year.

Stated mandate

APRT The Fund seeks to provide shareholders holding for the full Outcome Period with protection against the first 10% of losses in the S&P 500 Price Index. It pursues this strategy primarily through FLEX Options referencing that index.

SIXJ The Fund seeks to match the share-price return of SPDR S&P 500 ETF Trust over a six-month outcome period, subject to an upside cap and protection against the first 10% of losses.

Why people hold it

• APRT The contract is plain: FLEX options on the S&P 500 Price Index, structured to absorb the first 10% of losses over the April 1 to March 31 outcome period.
• A 0.74% fee undercuts the median in its shallow-buffer peer group, unusual in a corner of the market where the options plumbing normally costs more.
• Running since 2020, so it has cycled through multiple complete buffer periods, including live equity drawdowns, rather than arriving as an untested launch.
• Sits in the top quartile of its shallow-buffer cohort, one of the stronger builds among 9% to 12% S&P 500 buffer funds.

• SIXJ The 10% buffer and the cap reset every January 1 and July 1, so terms refresh twice a year instead of on the usual annual clock.
• 0.74% expense ratio, on the lean side for a defined-outcome fund and below the typical fee among its shallow-buffer peers.
• The reference asset is SPY itself, the original S&P 500 ETF, so the payoff is keyed to a plain vanilla benchmark rather than a bespoke index.
• Rates among the stronger implementations in a crowded shallow-buffer field, alongside AllianzIM's other six-month siblings like SIXZ and SIXD.

Worth knowing

• APRT The reference is the S&P 500 Price Index, so dividends sit outside the math entirely. Both the buffer and the cap track price moves only.
• The stated terms apply to holders across the full April-to-March period. Buy mid-period and your actual cushion and remaining upside differ from the headline.
• A small fund that trades thinly, so spreads can run wider than the largest buffer names. It has also made no distributions over the past year.

• SIXJ Buffer and cap are designed to work over the full six-month period. Buy mid-period and you get whatever cushion and upside room remain at that moment.
• It tracks SPY's share-price return, so dividends aren't passed through and the fund isn't structured to pay income.
• Volume is light next to the largest buffer funds, so bid-ask spreads can run wider, especially in fast-moving markets.

Full APRT profile⁠

Full SIXJ profile⁠