DECZ vs SIXJ

DECZCTrueShares Structured Outcome (December) ETF

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

In short

DECZ Most buffer ETFs trade your upside for the cushion. DECZ skips the hard cap: it aims to absorb the first 8% to 12% of S&P 500 price-index losses each 12-month period, at 0.79% with no waiver.

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

DECZ The Fund seeks to track the S&P 500 Price Return Index before fees and expenses while cushioning the first 8% to 12% of index losses during each twelve-month period.

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

• DECZ No stated ceiling on gains. TrueShares built this series around leaving the rally side open, with upside set by options pricing rather than a fixed cap.true-shares.comtrue-shares.com 2
• The buffer is spelled out in the fund's own documents: the first 8% to 12% of index losses per 12-month period, with the manager targeting 10%.true-shares.com
• The payoff is built from exchange-listed FLEX options inside a 1940 Act fund, not a bank-issued note, so no third-party credit sits behind it.sec.gov

• 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

• DECZ Uncapped is not full participation. Option costs come out of the upside, and the reference is the S&P 500 price index, so index dividends sit outside the return.true-shares.com
• Fee is 0.79% with no waiver, near the category median. Cheaper buffer builds exist, including AUGP and PQX at 0.50%.
• Small and thinly traded, and the buffer is measured from each period's start, so a mid-period buy gets a different cushion than a day-one holder.sec.gov

• 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 DECZ profile⁠

Full SIXJ profile⁠