SIXJ vs SIXZ

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

SIXZBAllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF

In short

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.

SIXZ Most buffered ETFs lock you into a 12-month cycle. SIXZ runs six-month outcome periods, so the 10% downside buffer on the S&P 500 and the upside cap both reset every May and November.

Stated mandate

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.

SIXZ The Fund uses recurring six-month Outcome Periods and resets its upside Cap at each period. For the May 1–October 31, 2026 period, the SEC disclosed an estimated pre-fee Cap range of 6.00%–9.00%.

Why people hold it

• 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.

• SIXZ Six-month outcome periods: the 10% buffer and the upside cap reset each May 1 and November 1 instead of sitting fixed for a full year.
• At 0.74% a year, it charges less than the median fund in its shallow-buffer peer group.
• Easy to trade for a defined-outcome fund, among the cleanest in its cohort, which matters most when you step in or out between reset dates.
• Built as a registered 1940 Act fund tied to the SPDR S&P 500 ETF Trust, so you hold an ETF rather than a bank-issued structured note.

Worth knowing

• 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.

• SIXZ The price of the buffer is a ceiling. Strong six-month runs get trimmed, and the new cap is only set when each period opens.
• Buffer and cap are measured from the start of each outcome period. Buy midway and your own protection and upside differ from the headline terms.
• 0.74% adds up next to plain index funds, and some buffer peers ask less (ZALT 0.69%, BUFB 0.10%). It also launched in 2024, so the record is short.

Full SIXJ profile⁠

Full SIXZ profile⁠