Which resets first, FLAO or OCTU?

FLAO ends its outcome period on Mar 31, 2027 and OCTU on Sep 30, 2027. New terms are set the day after each.

Which is cheaper, FLAO or OCTU?

FLAO and OCTU 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

FLAO vs OCTU: Cap, Buffer & Days Left

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As of Nov 4, 2026 FLAO can fall 5.8% before its buffer engages and OCTU 1.0%, and FLAO resets 183 days sooner.

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Net assets on Nov 3, 2026: $8.6m for AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF - Apr and $60m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Oct.

FLAO on its own →OCTU on its own →

At a glance

5.8%

FLAO can fall this far before its buffer

1.0%

OCTU can fall this far before its buffer

6.2%

FLAO can still gain

uncapped

OCTU can still gain

FLAO Full floor

FLAO: reference +0.5% since period start, fund +0.5%; buffer −5 to floor; cap +7.1%; Full floor. Data to Nov 4, 2026.

OCTU No cap

OCTU: reference +0.5% since period start, fund +0.3%; 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 6.4 points; OCTU is 7.0 times larger.

Points (pts) are percentage points.

FLAO vs OCTU: Cap, Buffer & Days Left
Measure	FLAO	OCTU
Return
Measure	FLAO	OCTU
Total return, 1 year	+2.7%	+9.1%
Drawdown
Measure	FLAO	OCTU
Index fall to the buffer	5.5%	0.5%
Benchmark
Measure	FLAO	OCTU
What it tracks	SPY	SPY
Cost and size
Measure	FLAO	OCTU
Expense ratio	0.74%	0.74%
Net assets, as of Nov 3, 2026	$8.6m	$60m
Holdings
Measure	FLAO	OCTU
Holdings in common	not published

Method

Window by window

Window by window: FLAO vs OCTU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	FLAO	OCTU	FLAO	OCTU
3 months	+1.2%	−1.1%	+1.6 pts	−0.7 pts
6 months	+3.1%	+2.8%	−1.4 pts	−1.7 pts
1 year	+2.7%	+9.1%	−10.8 pts	−4.5 pts
Since launchNot the same days: FLAO Apr 2024 · OCTU Oct 2024	+15.5%	+24.2%	−31.4 pts	−10.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

FLAO AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct 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 OCTU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Oct · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Sep 30, 2027

Issuer AllianzIM AllianzIM

Reference index SPY SPY

Buffer 5% to 100% 15%

Outcome period Oct 1, 2026 to Mar 31, 2027 Oct 1, 2026 to Sep 30, 2027

Days left 147 330

Starting cap +7.1% uncapped

Can still gain 6.2% uncapped

Fall before buffer 5.8% 1.0%

Protection left, index points 95.0% of 95.0% 15.0% of 15.0%

Index return this period +0.5% +0.5%

Fund return this period +0.5% +0.3%

State today Open Uncapped

Expense ratio 0.74% 0.74%

Net assets, as of Nov 3, 2026 $8.6m $60m

As of Nov 4, 2026. Source: ETFIQ.

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

They do not reset together. FLAO has 147 days of its period left and OCTU has 330, so the two are not the same bet on the same months.

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

Where each one stands today

FLAO resets first, on Mar 31, 2027, 147 days from now; OCTU runs to Sep 30, 2027, 330 days. A fall from here reaches FLAO’s buffer after 5.8% and OCTU’s after 1.0%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

FLAO

From its price on Nov 4, 2026, the fund can gain about 6.2% 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 number. In index terms, SPY can fall 5.5% 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. 147 days remained on Nov 4, 2026. On Mar 31, 2027 the period ends and a new cap is set.

OCTU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 1.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and new terms are set.

Questions people ask

Which resets first, FLAO or OCTU?: FLAO ends its outcome period on Mar 31, 2027 and OCTU on Sep 30, 2027. New terms are set the day after each.
Which is cheaper, FLAO or OCTU?: FLAO and OCTU both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

FLAO vs OCTP FLAO vs PBAP FLAO vs SEPM FLAO vs APRP OCTU vs PQX OCTU vs PMOC OCTU vs TOCT OCTU vs PQXV

Where to next

SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →FLAO on its own →OCTU on its own →Method →Standards and sources →

Sources and dates

FLAO and OCTU filings on SEC EDGAR ↗

AllianzIM page for FLAO ↗

AllianzIM page for OCTU ↗

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

How this is computed

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, FLAO against OCTU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/flao-vs-octu

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