MAYZ vs SIXJ

MAYZDTrueShares Structured Outcome (May) ETF

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

In short

MAYZ A May-reset buffer fund with a twist: it aims to cushion the first 8% to 12% of S&P 500 price-index losses over each 12-month period, and its terms set no ceiling on the upside.

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

MAYZ The fund seeks to track the S&P 500 Price Return Index before fees while buffering the first 8% to 12% of index losses over a 12-month period. It uses an options-based buffer-protect strategy.

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

• MAYZ The options-based buffer-protect design targets the first 8% to 12% of S&P 500 price-index losses over a 12-month stretch, with no stated upside cap in its buffer terms.
• The outcome period resets each May 1 and runs a full year, so the calendar is known in advance rather than improvised.
• Built as a 1940 Act ETF holding index options, not a bank-issued structured note, so the wrapper carries no single-issuer credit risk.
• At 0.79%, the fee sits level with the best-known dated buffer funds, including Innovator's May-series fund (PMAY).

• 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

• MAYZ The buffer is a range, not a fixed line, and it is measured across the whole outcome period. Entering mid-period changes both the remaining cushion and the return path.
• Cheaper paths to buffered S&P 500 exposure exist, including laddered rivals PSFF (0.10%) and BUFP (0.50%).
• A small fund that trades lightly, so bid-ask spreads can run wider than in the largest buffer ETFs.

• 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 MAYZ profile⁠

Full SIXJ profile⁠