Which resets first, APRT or ARLU?

APRT ends its outcome period on Mar 31, 2027 and ARLU on Mar 31, 2027. New terms are set the day after each.

Which is cheaper, APRT or ARLU?

APRT and ARLU both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

APRT vs ARLU: Cap, Buffer & Days Left

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As of Nov 4, 2026 ARLU can fall 12.1% before its buffer engages and APRT 11.2%.

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Net assets on Nov 3, 2026: $47m for AllianzIM U.S. Equity Buffer10 ETF - Apr and $54m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr.

APRT on its own →ARLU on its own →

At a glance

11.2%

APRT can fall this far before its buffer

12.1%

ARLU can fall this far before its buffer

4.4%

APRT can still gain

uncapped

ARLU can still gain

APRT At its cap

APRT: reference +17.9% since period start, fund +11.6%; buffer 0 to −10; cap +17.3%; At its cap. Data to Nov 4, 2026.

ARLU No cap

ARLU: reference +17.9% since period start, fund +12.8%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.74% a year; their one-year returns differ by 8.3 points; ARLU is 1.1 times larger.

Points (pts) are percentage points.

APRT vs ARLU: Cap, Buffer & Days Left
Measure	APRT	ARLU
Return
Measure	APRT	ARLU
Total return, 1 year	+16.0%	+7.7%
Drawdown
Measure	APRT	ARLU
Index fall to the buffer	15.2%
Benchmark
Measure	APRT	ARLU
What it tracks	SPY	SPY
Cost and size
Measure	APRT	ARLU
Expense ratio	0.74%	0.74%
Net assets, as of Nov 3, 2026	$47m	$54m
Holdings
Measure	APRT	ARLU
Holdings in common	not published

ETFIQ Downside Cover Score · APRT scores higher If the market falls into a bear market from here, how much does the buffer absorb?

IQ Buffer Score17.3APRT11.8ARLU

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

APRT 17.3

ARLU 11.8

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Window by window

Window by window: APRT vs ARLU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	APRT	ARLU	APRT	ARLU
3 months	+1.7%	−1.2%	+2.1 pts	−0.8 pts
6 months	+4.8%	+2.7%	+0.3 pts	−1.7 pts
1 year	+16.0%	+7.7%	+2.4 pts	−5.9 pts
3 years	+51.7%	–	−24.7 pts	–
Since launchNot the same days: APRT Jun 2020 · ARLU Apr 2024	+97.4%	+29.5%	−53.6 pts	−17.3 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

APRT AllianzIM U.S. Equity Buffer10 ETF - Apr · Absorbs the first 10% of loss on SPY and caps the gain at 17.3%, over a period ending Mar 31, 2027 ARLU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Mar 31, 2027

Issuer AllianzIM AllianzIM

Reference index SPY SPY

Buffer 10% 15%

Outcome period Apr 1, 2026 to Mar 31, 2027 Apr 1, 2026 to Mar 31, 2027

Days left 147 147

Starting cap +17.3% uncapped

Can still gain 4.4% uncapped

Fall before buffer 11.2% 12.1%

Protection left, index points 10.0% of 10.0% 15.0% of 15.0%

Index return this period +17.9% +17.9%

Fund return this period +11.6% +12.8%

State today At cap Uncapped

Expense ratio 0.74% 0.74%

Net assets, as of Nov 3, 2026 $47m $54m

As of Nov 4, 2026. Source: ETFIQ.

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

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

Where each one stands today

APRT resets first, on Mar 31, 2027, 147 days from now; ARLU runs to Mar 31, 2027, 147 days. A fall from here reaches APRT’s buffer after 11.2% and ARLU’s after 12.1%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

APRT

SPY had already risen past this fund's cap of +17.3% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.4% as the period runs out. The fund's price can fall 11.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 15.2% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 147 days remained on Nov 4, 2026. On Mar 31, 2027 the period ends and a new cap is set.

ARLU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 12.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. On Mar 31, 2027 the period ends and new terms are set.

Questions people ask

Which resets first, APRT or ARLU?: APRT ends its outcome period on Mar 31, 2027 and ARLU on Mar 31, 2027. New terms are set the day after each.
Which is cheaper, APRT or ARLU?: APRT and ARLU both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

APRT vs CPSP APRT vs DDTA APRT vs APRW APRT vs TAPR ARLU vs PAPR ARLU vs DDFA ARLU vs CPSP ARLU vs MARM

Where to next

SPDR® S&P 500® ETF Trust →APRT on its own →ARLU on its own →Method →Standards and sources →

Sources and dates

APRT and ARLU filings on SEC EDGAR ↗

AllianzIM page for APRT ↗

AllianzIM page for ARLU ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, APRT against ARLU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aprt-vs-arlu

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