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OCTW vs PSFD

AllianzIM U.S. Equity Buffer20 Oct ETF

OCTWCCboe

Pacer Swan SOS Flex (January) ETF

PSFDBCboe

Overlap

Expense ratio

PSFD −0.25pt a year

OCTW0.74%PSFD0.49%

Avg volume · 30D

OCTW 63.1×the volume

OCTW57.1KPSFD905

5Y return · a year

PSFD +2.4pt

OCTW+8.9%PSFD+11.3%

OCTW vs PSFD Performance

Oct 29, 2021 – Oct 30, 2026

+52.8%OCTW+70.8%PSFD

Oct 29, 2021 to Oct 30, 2026. OCTW +52.8%. PSFD +70.8%. Use the arrow keys to read each point.0%20%40%Oct 2021Apr 2024Oct 2026
Expense ratio
OCTW 0.74%
PSFD 0.49%, better
Fund size
OCTW $448M
PSFD $60M
1Y total return
OCTW +8.6%
PSFD +11.4%, better
Holdings
OCTW 3
PSFD 4
Avg volume (30D)
OCTW 57.1K sh, better
PSFD 905 sh
NAV per share
OCTW $42.27
PSFD $40.88
52W range

ETF.net Grade

OCTW: Cost 37, Risk 47, Mission 61, Tradability 80, Holdings 67, Durability 80. PSFD: Cost 85, Risk 30, Mission not scored, Tradability 45, Holdings not scored, Durability 69.
Pillar letters and Scores for OCTW, PSFD, with each pillar’s weight
PillarOCTWPSFD
Cost30% weightD37A85Higher
Mission25% weightB61Not scored
Risk15% weightC47HigherD30
Tradability15% weightA80HigherC45
Holdings10% weightB67Not scored
Durability5% weightA80HigherB69

Rank among S&P 500 Buffer 20% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. OCTW and PSFD are both graded against the same 24 S&P 500 Buffer 20% funds, so their Grades compare head to head.

S&P 500 Buffer 20%⁠

Category · 24 funds
See all 24 ›

PSFD ranks 2nd and OCTW 8th of 24 funds in the S&P 500 Buffer 20% Category.

  1. Rank 1BBALTInnovator Defined Wealth Shield ETFScore 66
  2. Rank 2BPSFDPacer Swan SOS Flex (January) ETFScore 61
  3. Rank 2BPSFJPacer Swan SOS Flex (July) ETFScore 61
  4. Rank 7BPBJNPGIM S&P 500 Buffer 20 ETF - JuneScore 56
  5. Rank 8COCTWAllianzIM U.S. Equity Buffer20 Oct ETFScore 54
  6. Rank 9CJANWAllianzIM U.S. Equity Buffer20 Jan ETFScore 53

Our read on each fund

ETF.net Research

OCTWCAllianzIM U.S. Equity Buffer20 Oct ETF

PSFDBPacer Swan SOS Flex (January) ETF

In short

OCTW A 20% buffer against S&P 500 price losses over a 12-month stretch that resets every October 1, built by Allianz Life's investment arm. Deep-end downside protection, paid for with a cap and no dividends.

PSFD Absorbs the first 20% of a drop in the SPDR S&P 500 ETF Trust over each 12-month period, with your upside capped in exchange. One of the original 2020 Pacer/Swan buffer funds, and priced under most deep-buffer rivals.

Stated mandate

OCTW The Fund seeks to match the S&P 500 Price Index over a complete one-year outcome period, subject to an upside cap, while buffering the first 20% of index losses.

PSFD The fund seeks to match the returns of the SPDR S&P 500 ETF Trust up to a stated cap while mitigating specified downside losses through a structured buffer strategy over an approximately one-year period.

Why people hold it

  • OCTW Buffers the first 20% of S&P 500 price-index losses over each 12-month outcome period, the deep end of the buffer range, with the clock resetting every October 1.
  • Run by the investment arm of Allianz Life, which builds and manages the hedge in-house, and has been resetting this October series since 2020.allianzlife.com
  • The 0.74% fee sits right at the median for deep-buffer funds, and the overall build ranks in the upper half of that peer group.
  • PSFD 0.49% a year versus a 0.74% median for 20%-buffer S&P 500 funds, undercutting the AllianzIM month-series lineup (JANW, APRW, JUNW). When upside is capped, fees come straight out of the ceiling.
  • Deep cushion, clean reset: FLEX options are structured to absorb the first 20% of underlying losses over the roughly one-year period, with a new cap struck at the start of each period.paceretfs.com
  • Siblings run the same recipe on other calendars (PSFM in April, PSFJ in July), so start dates can be staggered instead of pinned to one January strike. Standing sits in the upper half of the deep-buffer group.

Worth knowing

  • OCTW The upside is capped, and a fresh cap is set each October based on market conditions. Full buffer and full cap apply only if you hold the whole outcome period.allianzim.com
  • The reference is the S&P 500 price index, which excludes reinvested dividends, and the fund has not been paying distributions.allianzim.com
  • Cheaper 20% buffer wrappers exist, including PBFR at 0.50% and PSFJ at 0.49%.
  • PSFD Thinly traded. Spreads can be wider and larger orders harder to fill than in the giants of the buffer aisle.
  • No income stream: the fund holds options on an S&P 500 tracker rather than the stocks, and it has not paid a distribution.paceretfs.com
  • Buffer and cap run start to finish of the period and are set before fees and expenses. Shares bought mid-period carry different remaining cushion and headroom.paceretfs.com

Full OCTW profile⁠

Full PSFD profile⁠

OCTW vs PSFD Holdings

As of
How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

OCTW vs PSFD Cost

Overpaying OCTW vs PSFD

$4,515

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • OCTW 0.74%

    $14,307

  • PSFD 0.49%

    $9,792

$10,000
30 years

Cost over time

  • OCTW 0.74%
  • PSFD 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530OCTW $14,307PSFD $9,792

Year by year

YearOCTWPSFDOverpaying
10$1,319$883$436
20$5,015$3,394$1,621
30$14,307$9,792$4,515

Expense ratio

  • 0.74%OCTW
  • 0.49%PSFD, cheaper
  • Middle half of S&P 500 Buffer 20% funds
  • Median 0.74%

PSFD cheapest of 24 funds

OCTW 10th cheapest of 24 funds

OCTW vs PSFD Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
OCTW None
PSFD None

Distribution history

OCTWAll OCTW payments⁠

No distribution history available.

PSFDAll PSFD payments⁠

No distribution history available.

OCTW vs PSFD Risk

Fall from peak · 5 years

  • OCTW
  • PSFD
Oct 29, 2021 to Oct 30, 2026. Worst fall: PSFD −14.9% · Jun 2022. Use the arrow keys to read each point.−15%−10%−5%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
OCTW 4.7%, betterPSFD 7.4%
Return per unit of riskSharpe ratio, 3 years
OCTW 1.28PSFD 1.50, better
Worst fallMax drawdown, 5 years
OCTW −8.4%, betterPSFD −14.9%
Market sensitivityBeta, 5 years
OCTW 0.34PSFD 0.56

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