Which resets first, AIOO or OCTP?

AIOO ends its outcome period on Dec 31, 2026 and OCTP on Sep 30, 2027. New terms are set the day after each.

Which is cheaper, AIOO or OCTP?

AIOO charges 0.64% a year and OCTP charges 0.50%, so OCTP is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

AIOO vs OCTP: Cap, Buffer & Days Left

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As of Nov 4, 2026 OCTP can fall 1.1% before its buffer engages and AIOO 0.3%, and AIOO resets 273 days sooner.

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Net assets: $67m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan, and $52m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - October.

AIOO on its own →OCTP on its own →

At a glance

0.3%

AIOO can fall this far before its buffer

1.1%

OCTP can fall this far before its buffer

uncapped

AIOO can still gain

15.1%

OCTP can still gain

AIOO No cap

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.

OCTP Between buffer and cap

OCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

OCTP costs 0.14 points a year less; their one-year returns differ by 9.7 points; AIOO is 1.3 times larger.

Points (pts) are percentage points.

AIOO vs OCTP: Cap, Buffer & Days Left
Measure	AIOO	OCTP
Return
Measure	AIOO	OCTP
Total return, 1 year	+3.3%	+13.0%
Drawdown
Measure	AIOO	OCTP
Index fall to the buffer	0.5%
Benchmark
Measure	AIOO	OCTP
What it tracks	SPY	SPY
Cost and size
Measure	AIOO	OCTP
Expense ratio	0.64%	0.50%
Net assets, as of Nov 3, 2026	$67m	$52m
Holdings
Measure	AIOO	OCTP
Holdings in common	not published

Method

Window by window

Window by window: AIOO vs OCTP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AIOO	OCTP	AIOO	OCTP
3 months	+0.1%	+2.4%	+0.5 pts	+2.8 pts
6 months	+1.4%	+6.2%	−3.1 pts	+1.7 pts
1 year	+3.3%	+13.0%	−10.2 pts	−0.6 pts
Since launchNot the same days: AIOO Jul 2025 · OCTP May 2024	+5.9%	+34.7%	−18.3 pts	−10.1 pts

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

Side by side

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 OCTP PGIM S&P 500 Buffer 12 ETF - October · Absorbs the first 12% of loss on SPY and caps the gain at 16.3%, over a period ending Sep 30, 2027

Issuer AllianzIM PGIM

Reference index SPY SPY

Buffer 100% 12%

Outcome period Oct 1, 2026 to Dec 31, 2026 Oct 1, 2026 to Sep 30, 2027

Days left 57 330

Starting cap uncapped +16.3%

Can still gain uncapped 15.1%

Fall before buffer 0.3% 1.1%

Protection left, index points 100.0% of 100.0% 12.0% of 12.0%

Index return this period +0.5% +0.6%

Fund return this period +0.3% +0.6%

State today Uncapped Open

Expense ratio 0.64% 0.50%

Net assets, AIOO as of Nov 3, 2026 and OCTP as of Nov 4, 2026 $67m $52m

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. OCTP 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 OCTP takes all of the rise up to 16.3% and nothing above it.

They do not reset together. AIOO has 57 days of its period left and OCTP has 330, 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; OCTP runs to Sep 30, 2027, 330 days. A fall from here reaches AIOO’s buffer after 0.3% and OCTP’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.

Alert

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 0.3% 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.

OCTP

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 1.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, AIOO or OCTP?: AIOO ends its outcome period on Dec 31, 2026 and OCTP on Sep 30, 2027. New terms are set the day after each.
Which is cheaper, AIOO or OCTP?: AIOO charges 0.64% a year and OCTP charges 0.50%, so OCTP is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIOO vs CPSD AIOO vs XBOC AIOO vs OCTU AIOO vs AJAN OCTP vs AOCT OCTP vs CPST OCTP vs DDSQ OCTP vs DDTO

Where to next

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

Sources and dates

AIOO filings on SEC EDGAR ↗

AllianzIM page for AIOO ↗

OCTP filings on SEC EDGAR ↗

PGIM website ↗

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 OCTP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aioo-vs-octp

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