Data as of Nov 4, 2026.
APRW vs ARLU: Cap, Buffer & Days Left
As of Nov 4, 2026 ARLU can fall 12.1% before its buffer engages and APRW 8.0%.
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Net assets on Nov 3, 2026: $203m for AllianzIM U.S. Equity Buffer20 ETF - Apr and $54m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr.
APRW: reference +17.9% since period start, fund +7.8%; buffer 0 to −20; cap +11.9%; At its cap. Data to Nov 4, 2026.
APRW: reference +17.9% since period start, fund +7.8%; buffer 0 to −20; cap +11.9%; At its cap. Data to Nov 4, 2026.ARLU: reference +17.9% since period start, fund +12.8%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
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 3.3 points; APRW is 3.8 times larger.
Points (pts) are percentage points.
| Measure | APRW | ARLU |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.0% | +7.7% |
| Drawdown | ||
| Index fall to the buffer | 15.2% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.74% |
| Net assets, as of Nov 3, 2026 | $203m | $54m |
| Holdings | ||
| Holdings in common | not published | |
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
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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | APRW | ARLU | APRW | ARLU |
| 3 months | +1.5% | −1.2% | +1.9 pts | −0.8 pts |
| 6 months | +3.7% | +2.7% | −0.8 pts | −1.7 pts |
| 1 year | +11.0% | +7.7% | −2.6 pts | −5.9 pts |
| 3 years | +34.6% | – | −41.9 pts | – |
| Since launchNot the same days: APRW Jun 2020 · ARLU Apr 2024 | +57.5% | +29.5% | −93.4 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
As of Nov 4, 2026. Source: ETFIQ.
APRW 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
APRW resets first, on Mar 31, 2027, 147 days from now; ARLU runs to Mar 31, 2027, 147 days. A fall from here reaches APRW’s buffer after 8.0% and ARLU’s after 12.1%. Both track SPY, so what separates them is where each is in its own period.
APRW
SPY had already risen past this fund's cap of +11.9% 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 3.1% as the period runs out. The fund's price can fall 8.0% 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: 20.0% of the 20.0% 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
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.
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ETFIQ, APRW against ARLU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aprw-vs-arlu
ETFIQ. (Nov 4, 2026). APRW against ARLU. Retrieved from https://etfiq.com/compare/buffer/aprw-vs-arlu
[APRW against ARLU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/aprw-vs-arlu)
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