Which resets first, AIOO or ZJAN?

AIOO ends its outcome period on Dec 31, 2026 and ZJAN on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, AIOO or ZJAN?

AIOO charges 0.64% a year and ZJAN charges 0.79%, so AIOO is cheaper. Fees come from each fund's prospectus.

AIOO vs ZJAN: which one stands where?

As of Oct 1, 2026 ZJAN can fall 4.4% before its buffer engages and AIOO 0.0%. AllianzIM U.S. Equity Buffer100 ETF - Jan and Innovator Equity Defined Protection ETF - 1 Yr January.

0.0%

AIOO can fall this far before its buffer

4.4%

ZJAN can fall this far before its buffer

uncapped

AIOO can still gain

1.9%

ZJAN can still gain

AIOONo cap

AIOO: reference 0.0% since period start, fund 0.0%; buffer Floor; no cap; No cap.

ZJANAt its cap

ZJAN: reference +11.8% since period start, fund +4.0%; buffer Floor; cap +6.5%; At its cap.

AIOO has no cap. It takes 30% of whatever the index does, where ZJAN takes all of the rise up to 6.5% and nothing above it.

ZJAN 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, 92 days from now; ZJAN runs to Dec 31, 2026, 92 days. A fall from here reaches AIOO’s buffer after 0.0% and ZJAN’s after 4.4%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	AIOO	ZJAN	AIOO	ZJAN
3 months	+0.4%	+1.5%	−2.1 pts	−1.0 pts
6 months	+2.9%	+4.2%	−14.1 pts	−12.8 pts
1 year	+3.6%	+5.8%	−12.1 pts	−9.9 pts

AIOO and ZJAN over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AIOO

AllianzIM U.S. Equity Buffer100 ETF - Jan · Absorbs the whole loss on SPY and does not cap the gain, over a period ending Dec 31, 2026

ZJAN

Innovator Equity Defined Protection ETF - 1 Yr January · Absorbs the whole loss on SPY and caps the gain at 6.5%, over a period ending Dec 31, 2026

Issuer AllianzIM Innovator

Reference index SPY SPY

Buffer 100% 100%

Outcome period Oct 1, 2026 to Dec 31, 2026 Dec 31, 2025 to Dec 31, 2026

Days left 92 92

Starting cap uncapped +6.5%

Can still gain uncapped 1.9%

Fall before buffer 0.0% 4.4%

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

Index return this period 0.0% +11.8%

Fund return this period 0.0% +4.0%

State today Uncapped At cap

Expense ratio 0.64% 0.79%

Net assets $50m $106m

AIOO and ZJAN on the same fields, as of Oct 1, 2026. Source: ETFIQ.

AIOO in plain words

This fund has no cap. It takes a share of any further rise in SPY. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

ZJAN in plain words

SPY had already risen past this fund's cap of +6.5% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.9% as the period runs out. The fund's price can fall 4.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% from today's level to the point where the buffer begins.

Questions people ask

Which resets first, AIOO or ZJAN?: AIOO ends its outcome period on Dec 31, 2026 and ZJAN on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, AIOO or ZJAN?: AIOO charges 0.64% a year and ZJAN charges 0.79%, so AIOO is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIOO vs PQX AIOO vs PQXV AIOO vs PQXX AIOO vs QBSF ZJAN vs AJAN ZJAN vs BALT ZJAN vs BJAN ZJAN vs CPSD

SPDR® S&P 500® ETF Trust →AIOO on its own →ZJAN 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 ↗ZJAN filings on SEC EDGAR ↗Innovator page for ZJAN ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AIOO against ZJAN, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/aioo-vs-zjan

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.