AIOO vs ZJAN: Cap, Buffer & Days Left
As of Oct 9, 2026 ZJAN can fall 4.8% before its buffer engages and AIOO 0.5%. Net assets: $63m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer100 Protection ETF - Jan, and $106m on Oct 9, 2026 for Innovator Equity Defined Protection ETF - 1 Yr January.
AIOO costs 0.15 points a year less; their one-year returns differ by 1.8 points; ZJAN is 1.7 times larger.
| AIOO | ZJAN | |
|---|---|---|
| Expense ratio | 0.64% | 0.79% |
| Net assets, as of Oct 8, 2026 | $63m | $106m |
| Total return, 1 year | +3.9% | +5.7% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 2.0% | 12.4% |
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.
ZJAN: reference +14.2% since period start, fund +4.4%; buffer Floor; cap +6.5%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
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, 83 days from now; ZJAN runs to Dec 31, 2026, 83 days. A fall from here reaches AIOO’s buffer after 0.5% and ZJAN’s after 4.8%. 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 | ZJAN | AIOO | ZJAN |
| 3 months | +0.8% | +1.4% | −2.3 pts | −1.7 pts |
| 6 months | +3.0% | +3.6% | −11.6 pts | −11.0 pts |
| 1 year | +3.9% | +5.7% | −12.2 pts | −10.3 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.
ZJAN in plain words
SPY had already risen past this fund's cap of +6.5% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.5% 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 12.4% 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
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 ZJAN, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/aioo-vs-zjan
ETFIQ. (Oct 9, 2026). AIOO against ZJAN. Retrieved from https://etfiq.com/compare/buffer/aioo-vs-zjan
[AIOO against ZJAN (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/aioo-vs-zjan)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.