Data as of Nov 4, 2026.
AIOO vs FSEP: Cap, Buffer & Days Left
As of Nov 4, 2026 FSEP can fall 1.5% before its buffer engages and AIOO 0.3%, and AIOO resets 260 days sooner.
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Net assets on Nov 3, 2026: $67m for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan and $1.4bn for FT Vest U.S. Equity Buffer ETF - September.
AIOO: reference +0.5% since period start, fund +0.3%; buffer Floor; no cap; No cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.FSEP: reference +0.7% since period start, fund +0.7%; buffer 0 to −10; cap +16.7%; Between buffer and cap. Data to Nov 4, 2026.
FSEP: reference +0.7% since period start, fund +0.7%; buffer 0 to −10; cap +16.7%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
AIOO costs 0.21 points a year less; their one-year returns differ by 9.9 points; FSEP is far larger, $1.4bn against $67m.
Points (pts) are percentage points.
| Measure | AIOO | FSEP |
|---|---|---|
| Return | ||
| Total return, 1 year | +3.3% | +13.2% |
| Drawdown | ||
| Index fall to the buffer | 0.5% | 0.7% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.64% | 0.85% |
| Net assets, as of Nov 3, 2026 | $67m | $1.4bn |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | AIOO | FSEP | AIOO | FSEP |
| 3 months | +0.1% | +2.2% | +0.5 pts | +2.6 pts |
| 6 months | +1.4% | +6.1% | −3.1 pts | +1.6 pts |
| 1 year | +3.3% | +13.2% | −10.2 pts | −0.4 pts |
| 3 years | – | +52.7% | – | −23.7 pts |
| Since launchNot the same days: AIOO Jul 2025 · FSEP Sep 2020 | +5.9% | +94.7% | −18.3 pts | −39.8 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. AIOO is a floor fund, which caps how far a holder can fall. FSEP 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 FSEP takes all of the rise up to 16.7% and nothing above it.
They do not reset together. AIOO has 57 days of its period left and FSEP has 317, so the two are not the same bet on the same months.
Where each one stands today
AIOO resets first, on Dec 31, 2026, 57 days from now; FSEP runs to Sep 17, 2027, 317 days. A fall from here reaches AIOO’s buffer after 0.3% and FSEP’s after 1.5%. Both track SPY, so what separates them is where each is in its own period.
AIOO
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% 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. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and new terms are set.
FSEP
From its price on Nov 4, 2026, the fund can gain about 15.1% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.7% 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. 317 days remained on Nov 4, 2026. On Sep 17, 2027 the period ends and a new cap is set.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, AIOO against FSEP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aioo-vs-fsep
ETFIQ. (Nov 4, 2026). AIOO against FSEP. Retrieved from https://etfiq.com/compare/buffer/aioo-vs-fsep
[AIOO against FSEP (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/aioo-vs-fsep)
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