Which has more room to gain, APRT or FLAO?

From their prices on Oct 2, 2026, APRT can gain about 4.9% before its cap and FLAO about 6.3%, so FLAO has more room left this period.

Which resets first, APRT or FLAO?

APRT ends its outcome period on Mar 31, 2027 and FLAO on Mar 31, 2027. A new cap is set the day after each.

Which is cheaper, APRT or FLAO?

APRT charges 0.74% a year and FLAO charges 0.74%, so APRT is cheaper. Fees come from each fund's prospectus.

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APRT vs FLAO: which one stands where?

As of Oct 2, 2026 APRT can fall 10.8% before its buffer engages and FLAO 5.8%. AllianzIM U.S. Equity Buffer10 ETF - Apr and AllianzIM U.S. Equity Floor5 ETF - Apr.

their one-year returns differ by 12.9 points; APRT is 5.5 times larger.

	APRT	FLAO
Expense ratio	0.74%	0.74%
Net assets	$47m	$9m
Total return, 1 year	+15.8%	+2.9%
What it tracks	SPY	SPY
Holdings in common	not published

10.8%

APRT can fall this far before its buffer

5.8%

FLAO can fall this far before its buffer

4.9%

APRT can still gain

6.3%

FLAO can still gain

APRTAt its cap

APRT: reference +18.3% since period start, fund +11.1%; buffer 0 to −10; cap +17.3%; At its cap.

FLAOFull floor

FLAO: reference +0.9% since period start, fund +0.4%; buffer −5 to floor; cap +7.1%; Full floor.

These are two different products. FLAO is a floor fund, which caps how far a holder can fall. APRT is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

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, 180 days from now; FLAO runs to Mar 31, 2027, 180 days. APRT can still gain 4.9% before its cap, FLAO 6.3%. A fall from here reaches APRT’s buffer after 10.8% and FLAO’s after 5.8%. 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	APRT	FLAO	APRT	FLAO
3 months	+2.9%	+2.0%	−0.7 pts	−1.6 pts
6 months	+10.4%	+5.8%	−7.5 pts	−12.1 pts
1 year	+15.8%	+2.9%	−0.5 pts	−13.3 pts
3 years	+54.7%	not published	−34.6 pts	not published

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

On the same fields

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

FLAO

AllianzIM U.S. Equity Floor5 ETF - Apr · Absorbs losses from 5.0% to 100.0% on SPY and caps the gain at 7.1%, over a period ending Mar 31, 2027

Issuer AllianzIM AllianzIM

Reference index SPY SPY

Buffer 10% 5% to 100%

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

Days left 180 180

Starting cap +17.3% +7.1%

Can still gain 4.9% 6.3%

Fall before buffer 10.8% 5.8%

Protection left, index points 10.0% of 10.0% 95.0% of 95.0%

Index return this period +18.3% +0.9%

Fund return this period +11.1% +0.4%

State today At cap Open

Expense ratio 0.74% 0.74%

Net assets $47m $9m

APRT and FLAO on the same fields, as of Oct 2, 2026. Source: ETFIQ.

APRT in plain words

SPY had already risen past this fund's cap of +17.3% for the period on Oct 2, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.9% as the period runs out. The fund's price can fall 10.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.5% 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. 180 days remained on Oct 2, 2026. On Mar 31, 2027 the period ends and a new cap is set.

FLAO in plain words

From its price on Oct 2, 2026, the fund can gain about 6.3% more before it reaches its cap. The fund's price can fall 5.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.9% from today's level to the point where the buffer begins. Protection left, in index points: 95.0% of the 95.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, APRT or FLAO?: From their prices on Oct 2, 2026, APRT can gain about 4.9% before its cap and FLAO about 6.3%, so FLAO has more room left this period.
Which resets first, APRT or FLAO?: APRT ends its outcome period on Mar 31, 2027 and FLAO on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, APRT or FLAO?: APRT charges 0.74% a year and FLAO charges 0.74%, so APRT is cheaper. Fees come from each fund's prospectus.

Other comparisons

APRT vs TAPR APRT vs UAPR APRT vs XBAP APRT vs XMAR FLAO vs TOCT FLAO vs UOCT FLAO vs XBOC FLAO vs XSEP

SPDR® S&P 500® ETF Trust →APRT on its own →FLAO on its own →How every figure is computed →Standards and sources →

Where these figures came from

APRT and FLAO filings on SEC EDGAR ↗AllianzIM page for APRT ↗AllianzIM page for FLAO ↗

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, APRT against FLAO, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/aprt-vs-flao

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.