FEBZ vs SIXJ

FEBZDTrueShares Structured Outcome (February) ETF

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

In short

FEBZ Most buffer ETFs sell you downside protection and quietly take your upside in return. FEBZ skips the cap: it aims to absorb the first 8% to 12% of S&P 500 price losses over a 12-month stretch with no ceiling bolted onto the gains.

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

FEBZ FEBZ seeks pre-fee, pre-expense returns tracking the S&P 500 Price Return Index while protecting against the first 8%-12% of index losses over a 12-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

• FEBZ No upside cap. Where most buffered funds hard-stop your gains at a set number, this one keeps participating as the index climbs.true-shares.comtrue-shares.com 2
• Actively managed options on the S&P 500 Price Index, aiming to buffer the first 8% to 12% of index losses over a 12-month period that resets each February.true-shares.com
• Running since 2021, part of the original uncapped buffered series rather than a me-too launch chasing the outcome-ETF boom.true-shares.com

• 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

• FEBZ Uncapped is not full upside. The issuer states the participation rate is expected to land below 100% of the market move, and it is reset with each period.true-shares.com
• The buffer is a range (8% to 12%), set at each reset and measured from the period's starting level, so buying mid-period can mean less cushion than the label suggests.true-shares.com
• Fee sits at the category median, and this is a small, lightly traded fund. Laddered rival BUFB runs 0.10%, so the uncapped design is what you are paying up for.

• 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 FEBZ profile⁠

Full SIXJ profile⁠