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SEPT vs TENJ

AllianzIM U.S. Equity Buffer10 Sep ETF

SEPTBCboe

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Overlap

Expense ratio

TENJ −0.21pt a year

SEPT0.74%TENJ0.53%

Avg volume · 30D

TENJ 6.1×the volume

SEPT4.03KTENJ24.6K

SEPT vs TENJ Performance

Oct 31, 2025 – Oct 30, 2026

+9.9%SEPT+11.7%TENJ

Oct 31, 2025 to Oct 30, 2026. SEPT +9.9%. TENJ +11.7%. Use the arrow keys to read each point.0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
SEPT 0.74%
TENJ 0.53%, better
Fund size
SEPT $38M
TENJ $47M
1Y total return
SEPT +9.9%
TENJ +11.7%, better
Holdings
SEPT 2
TENJ 4
Avg volume (30D)
SEPT 4.03K sh
TENJ 24.6K sh, better
NAV per share
SEPT $38.66
TENJ $28.09
52W range

ETF.net Grade

SEPT: Cost 68, Risk 60, Mission not scored, Tradability 38, Holdings 58, Durability 33. TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41.
Pillar letters and Scores for SEPT, TENJ, with each pillar’s weight
PillarSEPTTENJ
Cost30% weightB68A86Higher
Mission25% weightNot scoredNot scored
Risk15% weightB60HigherC49
Tradability15% weightD38B66Higher
Holdings10% weightB58HigherC51
Durability5% weightD33C41Higher

Rank among S&P 500 Buffer 9-12% funds

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

Same Category. SEPT and TENJ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

TENJ ranks 3rd and SEPT 23rd of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 4BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 65
  5. Rank 23BPJUNInnovator U.S. Equity Power Buffer ETF - JuneScore 56
  6. Rank 23BSEPTAllianzIM U.S. Equity Buffer10 Sep ETFScore 56
  7. Rank 23BSIXZAllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETFScore 56

Our read on each fund

ETF.net Research

SEPTBAllianzIM U.S. Equity Buffer10 Sep ETF

TENJBiShares Large Cap 10% Target Buffer Jun ETF

In short

SEPT The September link in AllianzIM's buffer chain: FLEX options on the SPDR S&P 500 ETF that absorb the first 10% of a year's losses in exchange for a capped upside, with terms reset every September 1. Priced below the buffer-fund median.

TENJ No data

Stated mandate

SEPT The actively managed ETF seeks to match the share-price return of the SPDR S&P 500 ETF Trust at the end of each one-year Outcome Period, subject to an upside Cap and a buffer against the first 10% of losses. It primarily uses FLEX Options referencing that ETF.

TENJ No data

Why people hold it

  • SEPT Cheaper than the typical buffer fund at 0.74% a year against a 0.79% median for its shallow-buffer cohort, and it undercuts several rival dated buffers charging 0.79%.
  • The deal is spelled out before you own it: a 10% buffer against losses in the reference ETF and a stated upside cap, both fixed for a one-year outcome period that restarts each September 1.
  • Part of a full AllianzIM buffer lineup priced at the same 0.74%, including six-month siblings SIXZ, SIXD and SIXJ, so a September start date can be laddered with other reset calendars.
  • Running since 2023 and rated among the stronger builds in a crowded 52-fund shallow-buffer field.

TENJ No data

Worth knowing

  • SEPT Upside is capped, and both cap and buffer apply across the full outcome period. Buy mid-period and your actual protection and ceiling differ from the headline terms.
  • It targets the share-price return of the SPDR S&P 500 ETF Trust, so index dividends are not passed along, and the fund has not been paying out income.
  • A small, thinly traded fund next to the category's giants, so spreads can be wider and limit orders matter more.

TENJ No data

Full SEPT profile⁠

Full TENJ profile⁠

SEPT vs TENJ Holdings

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.

SEPT vs TENJ Cost

Overpaying SEPT vs TENJ

$3,771

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

  • SEPT 0.74%

    $14,307

  • TENJ 0.53%

    $10,536

$10,000
30 years

Cost over time

  • SEPT 0.74%
  • TENJ 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530SEPT $14,307TENJ $10,536

Year by year

YearSEPTTENJOverpaying
10$1,319$953$366
20$5,015$3,658$1,357
30$14,307$10,536$3,771

Expense ratio

  • 0.74%SEPT
  • 0.53%TENJ, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

TENJ 11th cheapest of 77 funds

SEPT 17th cheapest of 77 funds

SEPT vs TENJ Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
SEPT None
TENJ No data
Last payment
SEPT No data
TENJ $0.07
Ex-dividend
SEPT No data
TENJ Dec 23, 2025
Paid on
SEPT No data
TENJ Dec 29, 2025
Frequency
SEPT No data
TENJ Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

SEPTAll SEPT payments⁠

No distribution history available.

TENJIrregular · 1 paymentAll TENJ payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.07. Use the arrow keys to read each point.$0$0.052026YTD

SEPT vs TENJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SEPT 7.7%TENJ 8.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
SEPT 1.51TENJ 0.90since Nov 2025
Worst fallMax drawdown, 5 years
SEPT −12.8%since Sep 2023TENJ −5.5%since Oct 2025
Market sensitivityBeta, 5 years
SEPT 0.61TENJ 0.63

SEPT and TENJ in the news

All news⁠

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