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Trending ETFs

AllianzIM U.S. Large Cap Buffer20 Oct ETF

Active ETF
AZBO
Payout Change
None
Price as of:
$26.24 +0.1 +0.38%
primary theme
N/A
AZBO (ETF)

AllianzIM U.S. Large Cap Buffer20 Oct ETF

Payout Change
None
Price as of:
$26.24 +0.1 +0.38%
primary theme
N/A
AZBO (ETF)

AllianzIM U.S. Large Cap Buffer20 Oct ETF

Payout Change
None
Price as of:
$26.24 +0.1 +0.38%
primary theme
N/A

Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$26.24

$42.3 M

0.00%

0.74%

Vitals

YTD Return

-2.1%

1 yr return

0.5%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$42.3 M

Holdings in Top 10

N/A

52 WEEK LOW AND HIGH

$26.1
$25.82
$27.75

Expenses

OPERATING FEES

Expense Ratio 0.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

Price

Aum/Mkt Cap

YIELD

Exp Ratio

Watchlist

$26.24

$42.3 M

0.00%

0.74%

AZBO - Profile

Distributions

  • YTD Total Return -5.2%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -0.74%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    AllianzIM U.S. Large Cap Buffer20 Oct ETF
  • Fund Family Name
    AllianzIM
  • Inception Date
    Sep 30, 2020
  • Shares Outstanding
    1575000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Thomas Paustian

Fund Description

The Fund pursues a buffered outcome strategy that seeks to match the share price returns of the SPDR® S&P 500® ETF Trust (the “Underlying ETF”) (i.e., the market price returns of the Underlying ETF), at the end of a specified one-year period, from October 1 to September 30, as described below (the “Outcome Period”), subject to an upside maximum percentage return (the “Cap”) and a downside buffer against the first 20% of losses (the “Buffer”). The Fund’s intended return measured across different market conditions (e.g., rising or declining markets) is referred to as “outcomes” in this prospectus. The Underlying ETF’s share price returns reflect the price at which the Underlying ETF’s shares trade on the secondary market (not the Underlying ETF’s net asset value).

Under normal market conditions, the Fund invests at least 80% of its net assets in instruments with economic characteristics similar to U.S. large cap equity securities. Specifically, the Fund intends to invest substantially all of its assets in FLexible EXchange Options (“FLEX Options”) that reference the Underlying ETF. FLEX Options are customized equity or index options contracts that trade on an exchange, but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. An options contract is an agreement between a buyer and seller that gives the purchaser of the option the right, but not the obligation, to buy (in the case of a call option), or to sell (in the case of a put option), a particular asset at a specified future date at an agreed upon price (commonly known as the “strike price”).

The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).

The Underlying ETF is an exchange-traded unit investment trust that seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500® Index (the “Underlying Index”). The Underlying Index is a large-cap, market-weighted, U.S. equities index. The Underlying ETF seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the Underlying Index, with the weight of each stock in the Underlying ETF’s portfolio substantially corresponding to the weight of such stock in the Underlying Index. Although the Underlying ETF seeks to track the performance of the Underlying Index, the Underlying ETF’s return may not match or achieve a high degree of correlation with the return of the Underlying Index due to fees, expenses and transaction costs incurred by the Underlying ETF, among other factors. In addition, it is possible that the Underlying ETF may not always fully replicate the Underlying Index, including due to the unavailability of certain Underlying Index securities in the secondary market or due to other extraordinary circumstances (e.g., if trading in a security has been halted). As of August 31, 2022, the Underlying Index was comprised of 503 constituent securities, representing 500 companies, with a market capitalization range of between $3.4 billion and $2.5 trillion.

The Cap is set at or near the close of the market on the business day prior to the first day of the Outcome Period, based on market conditions. Specifically, the Cap is based on the market costs associated with a series of FLEX Options that are purchased and sold in order to seek to obtain the relevant market exposure and the Buffer. The market conditions and other factors that influence the Cap can include market volatility, risk free rates, and time to expiration of the FLEX Options. The Cap for the current Outcome Period is expected to be between 14.10% and 17.10% prior to taking into account any fees or expenses charged to the Fund. When the Fund’s annualized management fee of 0.74% of the Fund’s average daily net assets is taken into account, the expected Cap is reduced to between 13.36% and 16.36%. The Fund’s return will be further reduced by brokerage commissions, trading fees, taxes and non-routine or extraordinary expenses not included in the Fund’s unitary management fee. For the purpose of this prospectus, “non-routine or extraordinary expenses” are non-recurring expenses that may be incurred by the Fund outside of the ordinary course of its business, including, without limitation, costs incurred in connection with any claim, litigation, arbitration, mediation, government investigation or similar proceedings, indemnification expenses and expenses in connection with holding or soliciting proxies for a meeting of Fund shareholders. The returns that the Fund seeks to provide also do not include the costs associated with purchasing Shares of the Fund. The Fund will not receive or benefit from any dividend payments made by the Underlying ETF. It is expected that the Cap will change from one Outcome Period to the next. There is no guarantee, and it is unlikely, that the Cap will remain the same after the end of the Outcome Period. The Cap may increase or decrease, and it may change significantly, depending upon the market conditions at that time.

The Fund seeks to achieve its objective by buying and selling call and put FLEX Options that reference the Underlying ETF. Generally, the Fund will enter into the FLEX Options for an Outcome Period on the business day immediately prior to the first day of the Outcome Period, and the FLEX Options of an Outcome Period will expire on the last business day of the Outcome Period, at which time the Fund will invest in a new set of FLEX Options for the next Outcome Period.

In general, the Fund seeks to achieve the following outcomes for each Outcome Period, although there can be no guarantee these results will be achieved:

If the Underlying ETF’s share price has increased as of the end of the Outcome Period, the combination of FLEX Options held by the Fund is designed to provide positive returns that match the return of the Underlying ETF’s share price, up to the Cap.
If the Underlying ETF’s share price has decreased as of the end of the Outcome Period, the combination of FLEX Options held by the Fund is designed to compensate for the first 20% of losses experienced by the Underlying ETF’s share price.
If the Underlying ETF’s share price has decreased by more than 20% as of the end of the Outcome Period, the Fund is expected to experience all subsequent losses experienced by the Underlying ETF’s share price beyond 20% on a one-to-one basis, meaning that the Fund will decrease 1% for every 1% decrease in the Underlying ETF’s share price (i.e., if the Underlying ETF loses 30%, the Fund is designed to lose 10%).

The outcomes described here are before taking into account Fund fees and expenses, brokerage commissions, trading fees, taxes and non-routine or extraordinary expenses not included in the Fund’s unitary management fee. An investor that purchases Shares after the Outcome Period has begun or sells Shares prior to the end of the Outcome Period may experience results that are very different from the investment objective sought by the Fund for that Outcome Period.

The following charts illustrate the hypothetical returns that the Fund seeks to provide where a shareholder holds Shares for the entire Outcome Period. The Cap Level illustrated in these charts is the Fund’s Cap for the current Outcome Period which is expected to be between 14.10% and 17.10%. The returns shown in the charts are based on hypothetical performance of the Underlying ETF’s share price in certain illustrative scenarios and do not take into account payment by the Fund of fees and expenses, brokerage commissions, trading fees, taxes and non-routine or extraordinary expenses not included in the Fund’s unitary management fee. There is no guarantee that the Fund will be successful in providing these investment outcomes for any Outcome Period.

Despite the intended Buffer, a shareholder who holds Shares for the entire Outcome Period could lose their entire investment. An investment in the Fund is only appropriate for shareholders willing to bear the loss of their entire investment.

The outcomes may only be achieved if Shares are held over a complete Outcome Period. An investor that purchases or sells Shares during an Outcome Period may experience results that are very different from the outcomes sought by the Fund for that Outcome Period. For example, if an investor purchases Shares during an Outcome Period at a time when the Underlying ETF’s share price has decreased from its price at the beginning of the Outcome Period, that investor’s buffer will essentially be decreased by the amount of the decrease in the Underlying ETF’s share price. Conversely, if an investor purchases Shares during an Outcome Period at a time when the Underlying ETF’s share price has increased from its price at the beginning of the Outcome Period, that investor’s cap will essentially be decreased by the amount of the increase in the Underlying ETF’s share price. The strategy is designed to realize the outcomes only on the final day of the Outcome Period. To achieve the target outcomes sought by the Fund for an Outcome Period, an investor must hold Shares for that entire Outcome Period. This means investors should hold or purchase the Shares prior to the beginning of the Outcome Period to achieve the intended results.

Both the Cap and Buffer are fixed at levels calculated in relation to the Outcome NAV and the Underlying ETF’s share price. The Outcome NAV is the Fund’s net asset value (or “NAV”, which is the per share value of the Fund’s assets) calculated at the close of the market on the business day prior to the first day of the Outcome Period. An investor purchasing Shares on the secondary market on the first day of the Outcome Period may pay a price that is different from the Fund’s Outcome NAV. As a result, the investor may not experience the same investment results as the Fund, even if the Fund is successful in achieving the outcomes. Furthermore, an investor cannot expect to purchase Shares precisely at the beginning of the Outcome Period, or sell Shares precisely at the end of the Outcome Period, and thereby experience precisely the investment returns sought by the Fund for the Outcome Period.

Following the current Outcome Period of October 1, 2022 to September 30, 2023, each subsequent Outcome Period will be a one-year period from October 1 to September 30. The Fund resets each Outcome Period by investing in a new set of FLEX Options that will provide a new Cap for the new Outcome Period. This means that the Cap is expected to change for each Outcome Period and is determined by market conditions on the business day immediately prior to the first day of each Outcome Period. The Cap may increase or decrease. The Cap and Buffer, and the Fund’s position relative to each, should be considered before investing in the Fund. The Fund will be indefinitely offered with a new Outcome Period beginning at the end of each Outcome Period; the Fund is not intended to terminate after the current or any subsequent Outcome Period.

The Fund’s website, at www.AllianzIM.com, provides information relating to the outcomes, including the Fund’s position relative to the Cap and Buffer, of an investment in the Fund on a daily basis.

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AZBO - Performance

Return Ranking - Trailing

Period AZBO Return Category Return Low Category Return High Rank in Category (%)
YTD -2.1% -71.2% 44.1% 99.21%
1 Yr 0.5% 6.4% 91.4% N/A
3 Yr N/A* -0.6% 25.5% N/A
5 Yr N/A* 4.5% 26.6% N/A
10 Yr N/A* 3.0% 16.4% N/A

* Annualized

Return Ranking - Calendar

Period AZBO Return Category Return Low Category Return High Rank in Category (%)
2022 6.5% -94.0% 2181.7% N/A
2021 N/A -22.7% 41.1% N/A
2020 N/A -100.0% 17.1% N/A
2019 N/A -100.0% 33.2% N/A
2018 N/A -44.8% 25.0% N/A

Total Return Ranking - Trailing

Period AZBO Return Category Return Low Category Return High Rank in Category (%)
YTD -5.2% -71.4% 44.1% 99.21%
1 Yr 0.5% 6.4% 108.6% N/A
3 Yr N/A* -0.6% 26.6% N/A
5 Yr N/A* 4.5% 26.6% N/A
10 Yr N/A* 3.0% 16.4% N/A

* Annualized

Total Return Ranking - Calendar

Period AZBO Return Category Return Low Category Return High Rank in Category (%)
2022 6.5% -94.0% 2181.7% N/A
2021 N/A -21.6% 41.1% N/A
2020 N/A -100.0% 17.1% N/A
2019 N/A -100.0% 33.2% N/A
2018 N/A -13.4% 26.8% N/A

AZBO - Holdings

Concentration Analysis

AZBO Category Low Category High AZBO % Rank
Net Assets 42.3 M 20 1.26 T 88.41%
Number of Holdings 15 2 3910 96.31%
Net Assets in Top 10 42.5 M -472 M 279 B 67.41%
Weighting of Top 10 N/A 2.3% 100.0% N/A

Top 10 Holdings

  1. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  2. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  3. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  4. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  5. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  6. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  7. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  8. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  9. Call Option On Spx 09/30/2021 2185.75 C 126.21%
  10. Call Option On Spx 09/30/2021 2185.75 C 126.21%

Asset Allocation

Weighting Return Low Return High AZBO % Rank
Stocks
99.91% 0.00% 152.50% 28.12%
Cash
0.09% -87.42% 100.00% 70.88%
Preferred Stocks
0.00% 0.00% 5.20% 68.53%
Other
0.00% -15.82% 100.00% 67.69%
Convertible Bonds
0.00% 0.00% 8.98% 67.02%
Bonds
0.00% -0.36% 82.68% 67.64%

Stock Sector Breakdown

Weighting Return Low Return High AZBO % Rank
Technology
24.69% 0.00% 77.03% 51.72%
Healthcare
14.29% 0.00% 58.76% 59.97%
Financial Services
13.16% 0.00% 67.99% 39.13%
Consumer Cyclical
11.21% 0.00% 53.56% 45.85%
Communication Services
8.64% 0.00% 36.08% 39.58%
Industrials
8.27% 0.00% 62.09% 59.12%
Consumer Defense
7.33% 0.00% 51.01% 48.96%
Energy
4.17% 0.00% 19.92% 38.00%
Real Estate
2.92% 0.00% 68.36% 46.87%
Utilities
2.87% 0.00% 32.20% 32.52%
Basic Materials
2.44% 0.00% 31.64% 52.74%

Stock Geographic Breakdown

Weighting Return Low Return High AZBO % Rank
US
98.85% 0.00% 149.97% 21.19%
Non US
1.06% 0.00% 63.63% 63.89%

AZBO - Expenses

Operational Fees

AZBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.74% 0.01% 4.53% 46.30%
Management Fee 0.74% 0.00% 2.00% 80.80%
12b-1 Fee 0.00% 0.00% 1.00% 17.18%
Administrative Fee N/A 0.00% 0.95% N/A

Sales Fees

AZBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

AZBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.25% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

AZBO Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 363.00% N/A

AZBO - Distributions

Dividend Yield Analysis

AZBO Category Low Category High AZBO % Rank
Dividend Yield 0.00% 0.00% 1.23% 70.33%

Dividend Distribution Analysis

AZBO Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Annually

Net Income Ratio Analysis

AZBO Category Low Category High AZBO % Rank
Net Income Ratio -0.74% -3.04% 2.71% 99.35%

Capital Gain Distribution Analysis

AZBO Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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AZBO - Fund Manager Analysis

Managers

Thomas Paustian


Start Date

Tenure

Tenure Rank

Sep 30, 2020

1.67

1.7%

Thomas Paustian, CFA, is a Hedge Portfolio Manager and Senior Vice President at Allianz Investment Management LLC. Mr. Paustian has served as Portfolio Manager for the Fund since its inception in September 2020. Mr. Paustian also serves as Hedge Portfolio Manager on other institutional strategies since 2014 and as a lead Portfolio Manager since 2016. Mr. Paustian joined Allianz Life Insurance Company of North America, parent of Allianz Investment Management LLC, in April of 2009. Mr. Paustian has 15 years of experience in derivative markets and market risk management primarily focused on interest rate, credit, and equity derivatives.

Josiah Highmark


Start Date

Tenure

Tenure Rank

Dec 09, 2020

1.47

1.5%

Josiah Highmark is an Assistant Vice President at the Adviser. Mr. Highmark has served as Portfolio Manager for the Fund since December 2020. Mr. Highmark joined the Adviser in June of 2020. Previously, Mr. Highmark managed ETF and indexed funds at Invesco from 2014 to 2020, most recently as Manager, Portfolio Management Analysts.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 38.11 6.49 1.5