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Data as of Oct 28, 2026.

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AIOO vs SPY: Differences, Returns & Fees

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Over the year to Oct 28, 2026, AIOO returned +3.1% to SPY's +13.6%, and SPY charges 0.09% to AIOO's 0.64%.

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Net assets on Oct 27, 2026: $63m for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan and $814.8bn for SPDR S&P 500 ETF Trust.

AIOO on its own →SPY on its own →
At a glance
+3.1%
AIOO total return, 1 year
+13.6%
SPY total return, 1 year
0.64%
AIOO expense ratio
0.09%
SPY expense ratio

Pair scorecard

SPY costs 0.55 points a year less; their one-year returns differ by 10.5 points; SPY is far larger, $814.8bn against $63m.

AIOO vs SPY: Differences, Returns & Fees
MeasureAIOOSPY
Return
Total return, 1 year+3.1%+13.6%
Drawdown
Index fall to the buffer1.3%
Fund price fall to the buffer0.4%
Benchmark
What it tracksSPYS&P 500 Index
The outcome period
Buffer left, in index points100.0% of 100.0%
Days left in the period64
Period endsDec 31, 2026
Cost and size
Expense ratio0.64%0.09%
Net assets, as of Oct 27, 2026$63m$814.8bn
Holdings
Holdings in commonnot published
Top ten holdings, share of the fund38.1%

Method

Side by side

AIOO AllianzIM U.S. Equity Buffer100 Protection ETF - Jan SPY SPDR S&P 500 ETF Trust
Where it sits Buffer ETF Stock ETF
Issuer AllianzIM State Street
What it is Defined outcome, 100% on SPY Tracks the S&P 500
Total return, 1 year +3.1% +13.6%
Its benchmark over the same days +12.4% (SPY) +13.7% (VOO)
Gap to its benchmark −9.3 pts vs SPY −0.1 pts vs VOO
Expense ratio 0.64% 0.09%
Holdings not read by ETFIQ 504
Net assets, as of Oct 27, 2026 $63m $814.8bn

AIOO and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
AIOO

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 64 days remained on Oct 28, 2026. On Dec 31, 2026 the period ends and new terms are set.

SPY

SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.

Questions people ask

Are AIOO and SPY in the same category?
AIOO is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, AIOO or SPY?
In the year to Oct 28, 2026, with distributions reinvested, AIOO returned +3.1% and SPY +13.6%.
Which is cheaper, AIOO or SPY?
SPY is cheaper, by 0.55 percentage points a year. That is about $55 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
AIOO vs IVVAIOO vs VOOAIOO vs SPYMOCTT vs SPYDDFN vs SPYDDTN vs SPYSPY vs ZMAYPBOC vs SPY
Where to next
AIOO on its own →SPY on its own →Hold both: look the portfolio through →Rankings →SPY dividend history →SPY holdings →Standards and sources →
Sources and dates
AIOO filings on SEC EDGAR ↗
AllianzIM page for AIOO ↗
SPY filings on SEC EDGAR ↗
State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, AIOO against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/aioo-vs-spy

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