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OCTW vs PSFJ

AllianzIM U.S. Equity Buffer20 Oct ETF

OCTWCCboe

Pacer Swan SOS Flex (July) ETF

PSFJBCboe

Overlap

Expense ratio

PSFJ −0.25pt a year

OCTW0.74%PSFJ0.49%

Avg volume · 30D

OCTW 5.4×the volume

OCTW57.1KPSFJ10.6K

3Y return · a year

PSFJ +5.1pt

OCTW+10.8%PSFJ+15.9%

OCTW vs PSFJ Performance

Oct 31, 2025 – Oct 30, 2026

+8.6%OCTW+9.4%PSFJ

Oct 31, 2025 to Oct 30, 2026. OCTW +8.6%. PSFJ +9.4%. Use the arrow keys to read each point.−2.5%0%2.5%5%Oct 2025Apr 2026Oct 2026
Expense ratio
OCTW 0.74%
PSFJ 0.49%, better
Fund size
OCTW $448M
PSFJ $57M
1Y total return
OCTW +8.6%
PSFJ +9.4%, better
Holdings
OCTW 3
PSFJ 4
Avg volume (30D)
OCTW 57.1K sh, better
PSFJ 10.6K sh
NAV per share
OCTW $42.27
PSFJ $35.85
52W range

ETF.net Grade

OCTW: Cost 37, Risk 47, Mission 61, Tradability 80, Holdings 67, Durability 80. PSFJ: Cost 85, Risk 29, Mission not scored, Tradability 50, Holdings not scored, Durability 57.
Pillar letters and Scores for OCTW, PSFJ, with each pillar’s weight
PillarOCTWPSFJ
Cost30% weightD37A85Higher
Mission25% weightB61Not scored
Risk15% weightC47HigherD29
Tradability15% weightA80HigherC50
Holdings10% weightB67Not scored
Durability5% weightA80HigherB57

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 PSFJ 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 ›

PSFJ 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 4BPSFOPacer Swan SOS Flex (October) ETFScore 60
  5. Rank 7BPBJNPGIM S&P 500 Buffer 20 ETF - JuneScore 56
  6. Rank 8COCTWAllianzIM U.S. Equity Buffer20 Oct ETFScore 54
  7. Rank 9CJANWAllianzIM U.S. Equity Buffer20 Jan ETFScore 53

Our read on each fund

ETF.net Research

OCTWCAllianzIM U.S. Equity Buffer20 Oct ETF

PSFJBPacer Swan SOS Flex (July) 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.

PSFJ A 20% cushion against the S&P 500's first losses, paid for with a ceiling on the upside, reset every July 1. Pacer runs the trade for less than most of the deep-buffer crowd charges.

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.

PSFJ The Fund seeks to match, before fees and expenses, the returns of the SPDR S&P 500 ETF Trust up to a predetermined cap while buffering the first 20% of downside losses over an approximate 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.
  • PSFJ Costs 0.49% a year against a 0.74% median for 20% S&P 500 buffer funds, and undercuts the 0.74% AllianzIM month-series funds (JUNW, AUGW, DECW) built on the same reference.
  • Deep cushion by design: it aims to absorb the first 20% of a decline in the SPDR S&P 500 ETF Trust over each roughly one-year period, before fees and expenses.paceretfs.com
  • Live since 2021, with several annual reset cycles behind it and sibling funds (PSFM, PSFD) covering other start months. One of the stronger builds in a crowded 20% buffer field.

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%.
  • PSFJ The price of the cushion is a ceiling. Upside is capped at a level set when each July outcome period begins, so a roaring market leaves gains on the table.paceretfs.com
  • Buffer and cap are designed to work over the full outcome period. Buy mid-period and the cushion remaining and the room left to run differ from the stated terms.paceretfs.com
  • A smaller, thinly traded fund, so spreads can run wider than in the biggest names in the group. Income is not part of the design either.

Full OCTW profile⁠

Full PSFJ profile⁠

OCTW vs PSFJ 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 PSFJ Cost

Overpaying OCTW vs PSFJ

$4,515

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

  • OCTW 0.74%

    $14,307

  • PSFJ 0.49%

    $9,792

$10,000
30 years

Cost over time

  • OCTW 0.74%
  • PSFJ 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 $14,307PSFJ $9,792

Year by year

YearOCTWPSFJOverpaying
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%PSFJ, cheaper
  • Middle half of S&P 500 Buffer 20% funds
  • Median 0.74%

PSFJ cheapest of 24 funds

OCTW 10th cheapest of 24 funds

OCTW vs PSFJ Dividends

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

Distribution history

OCTWAll OCTW payments⁠

No distribution history available.

PSFJAll PSFJ payments⁠

No distribution history available.

OCTW vs PSFJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
OCTW 4.7%, betterPSFJ 7.1%
Return per unit of riskSharpe ratio, 3 years
OCTW 1.28PSFJ 1.51, better
Worst fallMax drawdown, 5 years
OCTW −8.4%PSFJ −12.2%since Nov 2021
Market sensitivityBeta, 5 years
OCTW 0.34PSFJ 0.55

OCTW and PSFJ in the news

All news⁠

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