Which resets first, AIOO or PMJA?

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

Which is cheaper, AIOO or PMJA?

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

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AIOO vs PMJA: Cap, Buffer & Days Left

As of Oct 13, 2026 PMJA can fall 4.8% before its buffer engages and AIOO 0.5%. Net assets on Oct 13, 2026: $63m for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan and $6m for PGIM S&P 500 Max Buffer ETF - January.

PMJA costs 0.14 points a year less; their one-year returns differ by 2.2 points; AIOO is 11.3 times larger.

Points (pts) are percentage points.

AIOO vs PMJA: Cap, Buffer & Days Left
	AIOO	PMJA
Expense ratio	0.64%	0.50%
Net assets	$63m	$6m
Total return, 1 year	+4.0%	+6.2%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	2.0%	12.3%

0.5%

AIOO can fall this far before its buffer

4.8%

PMJA can fall this far before its buffer

uncapped

AIOO can still gain

1.6%

PMJA 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.

PMJAAt its cap

PMJA: reference +14.1% since period start, fund +4.5%; buffer Floor; cap +6.6%; At its cap. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

AIOO has no cap. It takes 30% of whatever the index does, where PMJA takes all of the rise up to 6.6% and nothing above it.

PMJA is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

AIOO resets first, on Dec 31, 2026, 79 days from now; PMJA runs to Dec 31, 2026, 79 days. A fall from here reaches AIOO’s buffer after 0.5% and PMJA’s after 4.8%. 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 PMJA: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AIOO	PMJA	AIOO	PMJA
3 months	+0.8%	+1.6%	−2.7 pts	−1.8 pts
6 months	+2.7%	+3.5%	−9.3 pts	−8.6 pts
1 year	+4.0%	+6.2%	−13.3 pts	−11.1 pts
Since launch Not the same days: AIOO Jul 2025 · PMJA Jan 2025	+6.1%	+11.7%	−19.8 pts	−21.4 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

PMJA

PGIM S&P 500 Max Buffer ETF - January · Absorbs the whole loss on SPY and caps the gain at 6.6%, over a period ending Dec 31, 2026

Issuer AllianzIM PGIM

Reference index SPY SPY

Buffer 100% 100%

Outcome period Oct 1, 2026 to Dec 31, 2026 Jan 1, 2026 to Dec 31, 2026

Days left 79 79

Starting cap uncapped +6.6%

Can still gain uncapped 1.6%

Fall before buffer 0.5% 4.8%

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

Index return this period +2.0% +14.1%

Fund return this period +0.5% +4.5%

State today Uncapped At cap

Expense ratio 0.64% 0.50%

Net assets $63m $6m

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 PMJA

SPY had already risen past this fund's cap of +6.6% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.6% as the period runs out. The fund's price can fall 4.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.3% from today's level to the point where the buffer begins. On Dec 31, 2026 the period ends and a new cap is set.

Questions people ask

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

Other comparisons

AIOO vs PMOC AIOO vs FLJJ AIOO vs FLAO AIOO vs PQX PMJA vs QBSF PMJA vs JANT PMJA vs PBJA PMJA 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 →PMJA 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 ↗PMJA filings on SEC EDGAR ↗PGIM website ↗

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 PMJA, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/aioo-vs-pmja

Open data

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