JANT vs SIXJ

JANTBAllianzIM U.S. Equity Buffer10 Jan ETF

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

In short

JANT A buffer fund that runs on the calendar: the 12-month outcome period opens January 1 and closes December 31, absorbing the first 10% of S&P 500 price losses in exchange for a cap reset each New Year.

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

JANT The Fund seeks to match the stated underlying reference's returns at the end of the current Outcome Period up to an upside Cap, while providing a downside buffer against the first 10% of losses before fees and expenses.

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

• JANT Fee is 0.74%, below the typical shallow-buffer fund, and the overall build stands among the stronger ones in its peer group.
• The outcome period runs January 1 to December 31, so the reset lands with the calendar year rather than mid-quarter.allianzim.com
• Exchange-traded FLEX options held inside a 1940 Act fund and cleared by the OCC, so the payoff does not ride on one bank's credit the way a structured note does.allianzim.comsec.gov
• One of twelve monthly AllianzIM Buffer10 funds, so a January start can be laddered alongside other reset months.allianzim.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

• JANT The buffer covers the first 10% of losses before fees and expenses; deeper declines pass through, and the upside stops at the period's cap.
• The reference is the S&P 500 price index, so dividends sit outside the payoff math.
• Thinly traded, so limit orders earn their keep, and buying mid-period leaves you with a different cap and buffer than the ones set on January 1.allianzim.com

• 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 JANT profile⁠

Full SIXJ profile⁠