Which resets first, AIOO or FDEC?

AIOO ends its outcome period on Dec 31, 2026 and FDEC on Dec 18, 2026. New terms are set the day after each.

Which is cheaper, AIOO or FDEC?

AIOO charges 0.64% a year and FDEC charges 0.85%, so AIOO is cheaper. Fees come from each fund's prospectus.

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AIOO vs FDEC: Cap, Buffer & Days Left

As of Oct 13, 2026 FDEC can fall 10.7% before its buffer engages and AIOO 0.5%, and FDEC resets 13 days sooner. Net assets on Oct 13, 2026: $63m for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan and $1.3bn for FT Vest U.S. Equity Buffer ETF - December.

AIOO costs 0.21 points a year less; their one-year returns differ by 11.2 points; FDEC is far larger, $1.3bn against $63m.

Points (pts) are percentage points.

AIOO vs FDEC: Cap, Buffer & Days Left
	AIOO	FDEC
Expense ratio	0.64%	0.85%
Net assets	$63m	$1.3bn
Total return, 1 year	+4.0%	+15.2%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	2.0%	12.5%

0.5%

AIOO can fall this far before its buffer

10.7%

FDEC can fall this far before its buffer

uncapped

AIOO can still gain

2.6%

FDEC can still gain

AIOONo cap

AIOO: reference +2.0% since period start, fund +0.5%; buffer Floor; no cap; No cap. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

FDECBetween buffer and cap

FDEC: reference +14.3% since period start, fund +11.0%; buffer 0 to −10; cap +14.8%; Between buffer and cap. Figures to Oct 13, 2026.

These are two different products. AIOO is a floor fund, which caps how far a holder can fall. FDEC 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 30% of whatever the index does, where FDEC takes all of the rise up to 14.8% and nothing above it.

Where each one stands today

FDEC resets first, on Dec 18, 2026, 66 days from now; AIOO runs to Dec 31, 2026, 79 days. A fall from here reaches AIOO’s buffer after 0.5% and FDEC’s after 10.7%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: AIOO vs FDEC: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AIOO	FDEC	AIOO	FDEC
3 months	+0.8%	+3.3%	−2.7 pts	−0.1 pts
6 months	+2.7%	+8.8%	−9.3 pts	−3.2 pts
1 year	+4.0%	+15.2%	−13.3 pts	−2.1 pts
3 years	not published	+59.6%	not published	−20.7 pts
Since launch Not the same days: AIOO Jul 2025 · FDEC Dec 2020	+6.1%	+87.2%	−19.8 pts	−24.3 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

AIOO

AllianzIM U.S. Equity Buffer100 Protection ETF - Jan · Absorbs the whole loss on SPY and does not cap the gain, over a period ending Dec 31, 2026

FDEC

FT Vest U.S. Equity Buffer ETF - December · Absorbs the first 10% of loss on SPY and caps the gain at 14.8%, over a period ending Dec 18, 2026

Issuer AllianzIM First Trust

Reference index SPY SPY

Buffer 100% 10%

Outcome period Oct 1, 2026 to Dec 31, 2026 Dec 22, 2025 to Dec 18, 2026

Days left 79 66

Starting cap uncapped +14.8%

Can still gain uncapped 2.6%

Fall before buffer 0.5% 10.7%

Protection left, index points 100.0% of 100.0% 10.0% of 10.0%

Index return this period +2.0% +14.3%

Fund return this period +0.5% +11.0%

State today Uncapped Open

Expense ratio 0.64% 0.85%

Net assets $63m $1.3bn

As of Oct 13, 2026. Source: ETFIQ.

About AIOO

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% 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. 79 days remained on Oct 13, 2026. On Dec 31, 2026 the period ends and new terms are set.

About FDEC

From its price on Oct 13, 2026, the fund can gain about 2.6% more before it reaches its cap. The fund's price can fall 10.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.5% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 66 days remained on Oct 13, 2026. On Dec 18, 2026 the period ends and a new cap is set.

Questions people ask

Which resets first, AIOO or FDEC?: AIOO ends its outcome period on Dec 31, 2026 and FDEC on Dec 18, 2026. New terms are set the day after each.
Which is cheaper, AIOO or FDEC?: AIOO charges 0.64% a year and FDEC charges 0.85%, so AIOO is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIOO vs PJAN AIOO vs FSEP AIOO vs POCT AIOO vs ZALT FDEC vs QBSF FDEC vs JANT FDEC vs PBJA FDEC vs SQMX

SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →AIOO on its own →FDEC on its own →How every figure is computed →Standards and sources →

Where these figures came from

AIOO filings on SEC EDGAR ↗AllianzIM page for AIOO ↗FDEC filings on SEC EDGAR ↗First Trust page for FDEC ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every figure from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AIOO against FDEC, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/aioo-vs-fdec

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.