Which resets first, AIOO or QBSV?

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

Which is cheaper, AIOO or QBSV?

AIOO and QBSV both charge 0.64% a year, so neither is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live Compare their flows Ask IQ about these two funds

AIOO vs QBSV: Cap, Buffer & Days Left

As of Oct 9, 2026 QBSV can fall 1.4% before its buffer engages and AIOO 0.5%. Net assets on Oct 8, 2026: $63m for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan and $28m for AllianzIM U.S. Equity Buffer5 ETF - Jan.

Both cost 0.64% a year; AIOO is 2.2 times larger.

	AIOO	QBSV
Expense ratio	0.64%	0.64%
Net assets, as of Oct 8, 2026	$63m	$28m
Total return, 1 year	+3.9%	not published
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	2.0%

0.5%

AIOO can fall this far before its buffer

1.4%

QBSV can fall this far before its buffer

uncapped

AIOO can still gain

3.7%

QBSV can still gain

AIOONo cap

AIOO: reference +2.1% since period start, fund +0.5%; buffer Floor; no cap; No cap. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

QBSVBetween buffer and cap

QBSV: reference +2.1% since period start, fund +1.2%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Figures to Oct 9, 2026.

These are two different products. AIOO is a floor fund, which caps how far a holder can fall. QBSV 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 QBSV takes all of the rise up to 5.1% and nothing above it.

Both are AllianzIM funds, so the difference between them is the terms rather than the house.

Where each one stands today

AIOO resets first, on Dec 31, 2026, 83 days from now; QBSV runs to Dec 31, 2026, 83 days. A fall from here reaches AIOO’s buffer after 0.5% and QBSV’s after 1.4%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

	Total return		Gap to the reference's price return
Window	AIOO	QBSV	AIOO	QBSV
3 months	+0.8%	+2.3%	−2.3 pts	−0.8 pts
6 months	+3.0%	+6.9%	−11.6 pts	−7.7 pts
1 year	+3.9%	not published	−12.2 pts	not published

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

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

QBSV

AllianzIM U.S. Equity Buffer5 ETF - Jan · Absorbs the first 5% of loss on SPY and caps the gain at 5.1%, over a period ending Dec 31, 2026

Issuer AllianzIM AllianzIM

Reference index SPY SPY

Buffer 100% 5%

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

Days left 83 83

Starting cap uncapped +5.1%

Can still gain uncapped 3.7%

Fall before buffer 0.5% 1.4%

Protection left, index points 100.0% of 100.0% 5.0% of 5.0%

Index return this period +2.1% +2.1%

Fund return this period +0.5% +1.2%

State today Uncapped Open

Expense ratio 0.64% 0.64%

Net assets, as of Oct 8, 2026 $63m $28m

As of Oct 9, 2026. Source: ETFIQ.

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 0.5% 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. 83 days remained on Oct 9, 2026. On Dec 31, 2026 the period ends and new terms are set.

QBSV in plain words

From its price on Oct 9, 2026, the fund can gain about 3.7% more before it reaches its cap. The fund's price can fall 1.4% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 5.0% of the 5.0% buffer still sits below today's SPY level. On Dec 31, 2026 the period ends and a new cap is set.

Questions people ask

Which resets first, AIOO or QBSV?: AIOO ends its outcome period on Dec 31, 2026 and QBSV on Dec 31, 2026. New terms are set the day after each.
Which is cheaper, AIOO or QBSV?: AIOO and QBSV both charge 0.64% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIOO vs QBSF AIOO vs JANU AIOO vs XBJA AIOO vs DDSQ QBSV vs QBSF QBSV vs JANT QBSV vs PBOC QBSV vs XBOC

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

Where these figures came from

AIOO and QBSV filings on SEC EDGAR ↗AllianzIM page for AIOO ↗AllianzIM page for QBSV ↗

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 page

ETFIQ, AIOO against QBSV, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/aioo-vs-qbsv

Open data

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