Data as of .
AIOO vs BALT: which one stands where?
As of Sep 21, 2026 BALT can fall 2.2% before its buffer engages and AIOO 0.8%, and BALT resets 1 days sooner.
These are two different products. AIOO is a floor fund, which caps how far a holder can fall. BALT is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
AIOO has no cap. It takes 24% of whatever the index does, where BALT takes all of the rise up to 2.5% and nothing above it.
Where each one stands today
BALT resets first, on Sep 30, 2026, 9 days from now; AIOO runs to Sep 30, 2026, 10 days. A fall from here reaches AIOO’s buffer after 0.8% and BALT’s after 2.2%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| AIOO | BALT | AIOO | BALT | |
| 3 months | +0.5% | +1.7% | −1.7 pts | −0.6 pts |
| 6 months | +2.8% | +4.1% | −15.2 pts | −13.9 pts |
| 1 year | +3.9% | +6.3% | −12.7 pts | −10.3 pts |
| 3 years | not published | +24.3% | not published | −54.1 pts |
| AIOO AllianzIM U.S. Equity Buffer100 ETF - Jan Absorbs the whole loss on SPY and does not cap the gain, over a period ending Sep 30, 2026 | BALT Innovator Defined Wealth Shield ETF - Quarterly Absorbs the first 20% of loss on SPY and caps the gain at 2.5%, over a period ending Sep 30, 2026 | |
|---|---|---|
| Issuer | AllianzIM | Innovator |
| Reference index | SPY | SPY |
| Buffer | 100% | 20% |
| Outcome period | Jul 1, 2026 to Sep 30, 2026 | Jun 30, 2026 to Sep 30, 2026 |
| Days left | 10 | 9 |
| Starting cap | uncapped | +2.5% |
| Can still gain | uncapped | 0.3% |
| Fall before buffer | 0.8% | 2.2% |
| Protection left, index points | 100.0% of 100.0% | 20.0% of 20.0% |
| Index return this period | +3.6% | +3.6% |
| Fund return this period | +0.8% | +2.1% |
| State today | Uncapped | At cap |
| Expense ratio | 0.64% | 0.69% |
| Net assets | $50m | $2.9bn |
AIOO in plain words
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.5% 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. 10 days remained on Sep 21, 2026. On Sep 30, 2026 the period ends and a new cap is set.
BALT in plain words
SPY had already risen past this fund's cap of +2.5% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.3% as the period runs out. The fund's price can fall 2.2% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 9 days remained on Sep 21, 2026.
Questions people ask
- Which resets first, AIOO or BALT?
- AIOO ends its outcome period on Sep 30, 2026 and BALT on Sep 30, 2026. A new cap is set the day after each.
- Which is cheaper, AIOO or BALT?
- AIOO charges 0.64% a year and BALT charges 0.69%, so AIOO is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AIOO against BALT, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/aioo-vs-balt Free to use with attribution; the underlying files are at Open data.