AIOO vs SQMX: Cap, Buffer & Days Left
As of Oct 9, 2026 SQMX can fall 1.0% before its buffer engages and AIOO 0.5%, and SQMX resets 13 days sooner. Net assets: $63m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan, and $55m on Oct 9, 2026 for FT Vest U.S. Equity Quarterly Max Buffer ETF.
AIOO costs 0.21 points a year less; their one-year returns differ by 3.5 points.
| AIOO | SQMX | |
|---|---|---|
| Expense ratio | 0.64% | 0.85% |
| Net assets, as of Oct 8, 2026 | $63m | $58m |
| Total return, 1 year | +3.9% | +7.4% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 2.0% | 2.2% |
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.
SQMX: reference +2.2% since period start, fund +0.8%; buffer 0 to −12; cap +3.0%; Between buffer and cap. Figures to Oct 9, 2026.
SQMX: reference +2.2% since period start, fund +0.8%; buffer 0 to −12; cap +3.0%; 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. SQMX 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 SQMX takes all of the rise up to 3.0% and nothing above it.
Where each one stands today
SQMX resets first, on Dec 18, 2026, 70 days from now; AIOO runs to Dec 31, 2026, 83 days. A fall from here reaches AIOO’s buffer after 0.5% and SQMX’s after 1.0%. 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 | SQMX | AIOO | SQMX |
| 3 months | +0.8% | +2.0% | −2.3 pts | −1.1 pts |
| 6 months | +3.0% | +4.2% | −11.6 pts | −10.4 pts |
| 1 year | +3.9% | +7.4% | −12.2 pts | −8.6 pts |
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
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.
SQMX in plain words
From its price on Oct 9, 2026, the fund can gain about 1.9% more before it reaches its cap. The fund's price can fall 1.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.2% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level. 70 days remained on Oct 9, 2026. On Dec 18, 2026 the period ends and a new cap is set.
Questions people ask
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.
ETFIQ, AIOO against SQMX, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/aioo-vs-sqmx
ETFIQ. (Oct 9, 2026). AIOO against SQMX. Retrieved from https://etfiq.com/compare/buffer/aioo-vs-sqmx
[AIOO against SQMX (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/aioo-vs-sqmx)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.