MARZ vs SIXJ

MARZDTrueShares Structured Outcome (March) ETF

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

In short

MARZ A March-dated buffer fund with an unusual twist: TrueShares defines the downside (the first 8% to 12% of S&P 500 price-index losses each 12-month period, dividends excluded) without naming an upside cap in its objective.

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

MARZ The fund seeks returns tracking the S&P 500 Price Return Index while buffering the first 8%–12% of index losses during each 12-month March-to-March investment 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

• MARZ No stated upside cap in its mandate. The floor is spelled out, the ceiling isn't, which is rare in a category built on trading away the top end.
• Part of a monthly ladder. Sister funds run the same strategy off other start months (FEBZ, JULZ, AUGZ, SEPZ), so the entry calendar isn't only March.
• Live since 2021, so its March-to-March reset has been through multiple full cycles rather than existing only on paper.

• 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

• MARZ The buffer is a range, not a fixed number. Where it lands between 8% and 12% is set at the start of each March period, not known in advance.
• At 0.79% the fee sits right at the median for its buffer peer group, and cheaper structures exist there (ZALT at 0.69%, BUFB at 0.10%).
• One of the smaller, lightly traded funds in its category, which typically shows up as wider bid-ask spreads at the moment you transact.

• 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 MARZ profile⁠

Full SIXJ profile⁠