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FLAO AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF - Apr

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$28.95
+0.1% · 1 day, price
IQ’s readingComputed nightly from ETFIQ data. Not written live.

Since Oct 1, 2026, FLAO returned 0.8%, against SPY's 1.3% price return. It can gain 5.9% more before its cap.

Why did FLAO return +16.4% against SPY’s +53.1%?How much of FLAO’s cap and buffer is left?What do FLAO’s net flows of +$2.5m over the since Feb 2024 mean?
Absorbs losses from 5.0% to 100.0% on SPY and caps the gain at 7.1%, over a period ending Mar 31, 2027AllianzIM ↗Expense ratio 0.74%Fund assets $8.7m on Oct 27, 2026Benchmark SPYFund page at the issuer ↗SEC filings ↗Every AllianzIM fund ETFIQ covers

Promise check: DeliveredOver its outcome period to Sep 30, 2026, FLAO returned 5.7% against the 5.7% its cap promised after its fee, as SPY moved +17.3%.

Compare with…Trading costsPut to the committeeaskIQ about FLAOAdd to portfolioFlowsAlerts

FLAO risk and return scorecard

vs SPY · Apr 2024 to Oct 2026 · 132 weekly returns · dividend-adjusted

Short history · 30 months
FLAO +16.4%, SPY +53.1%, Apr 2024 to Oct 2026, distributions reinvested.
Return
MeasureFLAOSPYEdge
Total return+16.4%+53.1%SPY
Annualized+6.2%+18.3%SPY
Price return+16.4%+48.8%SPY
Risk
MeasureFLAOSPYEdge
Volatility6.9%14.7%FLAO
Max drawdown−9.7%−16.9%FLAO
Upside capture31.2%100.0%SPY
Downside capture53.0%100.0%FLAO
Risk-adjusted
MeasureFLAOSPYEdge
Sharpe ratio0.280.93SPY
Sortino ratio0.401.42SPY
Alpha vs SPY
MeasureFLAOSPYEdge
Alpha, a year−3.7%Not significant
Alpha t-stat−1.81
Beta to SPY0.421.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Jul 31, 2026
12 months to Jul 31, 2026
−$4.1m
Since Feb 2024
+$2.5m
askIQ: what do these flows mean? ↗

What you earned

FLAO +0.7%, SPY price return +0.9%: total return over one month to Oct 28, 2026.
FLAO+0.7%
SPY+0.9%
FLAO +2.1%, SPY price return +5.9%: total return over three months to Oct 28, 2026.
FLAO+2.1%
SPY+5.9%
FLAO +4.0%, SPY price return +8.5%: total return over six months to Oct 28, 2026.
FLAO+4.0%
SPY+8.5%
FLAO +1.8%, SPY price return +13.3%: total return over the year to Oct 28, 2026.
FLAO+1.8%
SPY+13.3%
FLAO +2.3%, SPY price return +12.4%: total return over one year to Oct 28, 2026.
FLAO+2.3%
SPY+12.4%
FLAO +15.8%, SPY price return +47.9%: total return since launch to Oct 28, 2026.
FLAO+15.8%
SPY+47.9%
askIQ: why did FLAO return +2.3% against SPY’s +12.4%? ↗

Where does it stand in this outcome period?

Outcome period Oct 1, 2026 to Mar 31, 2027
5.9%
Can still gain from today’s fund price
Report
6.1%
Fall before the buffer from today’s fund price
Report
95.0%
Protection left, index points
Report
154
Days to reset
Report
askIQ: how much of FLAO’s cap and buffer is left? ↗

More on FLAO

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Price, 1 year

$28.95+0.1%1 day, priceClose, Oct 28, 2026

Price only. No distribution was paid over these days, so total return is the same. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

Points (pts) are percentage points.

FLAO returns by window: total return, cash paid and price change
WindowTotal returnSPY price returnGap to SPY
1M Sep 28 – Oct 28, 2026+0.7%+0.9%−0.2 pts
3M Jul 29 – Oct 28, 2026+2.1%+5.9%−3.8 pts
6M Apr 29 – Oct 28, 2026+4.0%+8.5%−4.5 pts
YTD Dec 31, 2025 – Oct 28, 2026+1.8%+13.3%−11.5 pts
1Y Oct 28, 2025 – Oct 28, 2026+2.3%+12.4%−10.1 pts
Since launch Apr 1, 2024 – Oct 28, 2026+15.8%+47.9%−32.1 pts
Since launch, annualised Apr 1, 2024 – Oct 28, 2026+5.9%––

Total returns, distributions reinvested. SPY's column is its price return, dividends left out: the basis the outcome period uses. Listed Apr 2024: no 3 years windows.

Source: Tiingo end-of-day prices, with distributions reinvested.

Email me when FLAO's outcome period resets.

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Full floor
Full floorFLAO: reference +1.3% since period start, fund +0.8%; buffer −5 to floor; cap +7.1%; Full floor. Data to Oct 28, 2026.full floor beneathfull floor−5.0% buffer start0% period start+7.1% capfirst 5 pts are yours to lose+1.3% gain captured+5.8% more to the capTODAY · SPY +1.3%Full floorFLAO: reference +1.3% since period start, fund +0.8%; buffer −5 to floor; cap +7.1%; Full floor. Data to Oct 28, 2026.full floor beneathfull floor−5.0% buffer start0% start+7.1% capfirst 5 pts are yours to lose+1.3% gain captured+5.8% more to the capTODAY · SPY +1.3%

FLAO: reference +1.3% since period start, fund +0.8%; buffer −5 to floor; cap +7.1%; Full floor. Data to Oct 28, 2026.

Money in and out

Monthly data · as of Jul 31, 2026

FLAO: in the month to Jul 31, 2026, nothing net moved, by its SEC filing.

12 months
−$4.1m
−33.2% of $12.4m on Jul 31, 2025
Aug 1, 2025 to Jul 31, 2026
monthly, from SEC filings
Since Feb 2024
+$2.5m
Feb 1, 2024 to Jul 31, 2026
monthly, from SEC filings

Computed by ETFIQ from the monthly sales and redemptions FLAO files with the SEC on Form N-PORT.

How this is computed

ETFIQ reads no daily data for this fund, so its flows are monthly, and the latest month filed is Jul 2026. Every day and month ETFIQ holds for FLAO, back to Feb 2024, is in its flows file. Flows across every fund · How these flows are computed · Compare FLAO with other funds in the flows tool

Month by month, money in and money outFeb 2024 to Jul 2026

FLAO, money in and money out each month from Feb 2024 to Jul 2026: two bars a month, money in above the line and money out below. Every bar is from FLAO’s SEC filings (N-PORT item B.6). Of the 30 months listed, money came in on net in 6 and went out in 10.

Every bar is from FLAO’s SEC filings (N-PORT item B.6). Of the 30 months listed, money came in on net in 6 and went out in 10.

MonthInOutNet
Jul 2026 SEC Form N-PORT$0$0$0
Jun 2026 SEC Form N-PORT$0$0$0
May 2026 SEC Form N-PORT$0$0$0
Apr 2026 SEC Form N-PORT$0$0$0
Mar 2026 SEC Form N-PORT+$8.3m−$9.6m−$1.3m
Feb 2026 SEC Form N-PORT$0$0$0
Jan 2026 SEC Form N-PORT$0−$1.4m−$1.4m
Dec 2025 SEC Form N-PORT$0$0$0
Nov 2025 SEC Form N-PORT$0$0$0
Oct 2025 SEC Form N-PORT$0$0$0
Sep 2025 SEC Form N-PORT+$11.2m−$11.2m−$4k
Aug 2025 SEC Form N-PORT$0−$1.4m−$1.4m
Jul 2025 SEC Form N-PORT$0$0$0
Jun 2025 SEC Form N-PORT$0−$679k−$679k
May 2025 SEC Form N-PORT+$670k−$23.9m−$23.3m
Apr 2025 SEC Form N-PORT+$28.1m−$7.2m+$20.9m
Mar 2025 SEC Form N-PORT+$14.0m−$13.9m+$83k
Feb 2025 SEC Form N-PORT$0$0$0
Jan 2025 SEC Form N-PORT$0$0$0
Dec 2024 SEC Form N-PORT$0$0$0
Nov 2024 SEC Form N-PORT$0$0$0
Oct 2024 SEC Form N-PORT$0−$675k−$675k
Sep 2024 SEC Form N-PORT+$29.8m−$30.6m−$782k
Aug 2024 SEC Form N-PORT$0−$59.5m−$59.5m
Jul 2024 SEC Form N-PORT+$655k$0+$655k
Jun 2024 SEC Form N-PORT+$645k−$3.8m−$3.2m
May 2024 SEC Form N-PORT+$4.3m$0+$4.3m
Apr 2024 SEC Form N-PORT+$63.7m$0+$63.7m
Mar 2024 SEC Form N-PORT+$5.0m$0+$5.0m
Feb 2024 SEC Form N-PORT$0$0$0

Most recent first.

How this is computed

N-PORT months: money in is sales plus reinvestments; money out is redemptions.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s SEC N-PORT filings. Data as of Jul 31, 2026. Updated when the fund files its next report.

FLAO key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$29.01 on Oct 13, 2026
52-week low, daily closes to Oct 28, 2026 (ETFIQ)$26.59 on Mar 30, 2026
Close on Oct 28, 2026, within that range (ETFIQ)$28.95, 97% of the way from the low to the high
Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Oct 27, 2026
Trading · FLAOas of Oct 27, 2026
·
Not scored2 of 6 measured · Oct 27, 2026
0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant
Cost for your order · one way, half its 30-day median spread
$1,000$0.850.085%
$10,000$8.500.085%
Premium or discount to NAV, Oct 27 close+0.07%
−0.1%95% of days within ±0.07% · the 1% band is off this scale+0.1%
How to tradeLimit: midpoint + 3¢ to buy, midpoint − 3¢ to sell.At the Oct 27 close of $28.92, that’s $28.95 to buy and $28.89 to sell.
Full trading page: components, premium history, dealers →

About FLAO

Reference indexSPY
Buffer5% to 100%
Outcome periodOct 1, 2026 to Mar 31, 2027
Starting cap+7.1%
SPY return since period start+1.3%
Fund return since period start+0.8%
Net assets (issuer page, as of Oct 27, 2026)$8.7mReport
Band state today (ETFIQ)Open
Can still gain (issuer, fund price)5.9%
Fall before buffer (issuer, fund price)6.1%
Fall to the buffer in index terms (ETFIQ)6.2%
Protection left in index points (ETFIQ)95.0% of 95.0%
Days left in period154
Expense ratio (issuer page, Oct 28, 2026)0.74%Report
How we measure
Issuer-published data as of the date shown; ETFIQ calculations marked. Definitions on the learn page. Method
IQ Investment Committee on FLAO

12 seats on FLAO, as of Oct 28, 2026: 2 Supports, 2 Challenges, 6 Not enough data, 2 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges
In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data
In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data
In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data
In the tradition ofJohn TempletonTempleton-style Global ContrarianDoes not apply
In the tradition ofRay DalioDalio-style All-WeatherNot enough data
In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data
In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityDoes not apply
In the tradition ofDavid SwensenSwensen-style DiversificationChallenges
In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data
In the tradition ofJesse LivermoreLivermore-style Trend FollowingSupports
Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatSupports
Put FLAO to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about FLAO

How much can FLAO still gain?
About 5.9% from its price on Oct 28, 2026, before it reaches its cap, by the issuer's published number. The cap for the period was set at +7.1%.
How far can FLAO fall before the buffer helps?
6.1% in fund-price terms on Oct 28, 2026, by the issuer's number. In index terms SPY can fall 6.2% from that level before the buffer begins. Losses until that point are the holder's.
How much of the FLAO buffer is left?
95.0% of the 95.0% buffer sat below the SPY level on Oct 28, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.
When does FLAO reset?
The outcome period ends on Mar 31, 2027, 154 days from the data on Oct 28, 2026. A new cap is set the next day and the buffer starts again.
What does FLAO cost?
The prospectus expense ratio is 0.74% a year.
Sources and dates
Prices, FLAO and SPY price returnTiingo end-of-day · Oct 28, 2026
Fee, 0.74%Issuer page · Oct 28, 2026
Net assets, $8.7mIssuer page · Oct 27, 2026
IssuerAllianzIM page for FLAO ↗
IssuerAllianzIM product table ↗
All fund filingsProspectus filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →
Cite this pageCitation, APA and Markdown

ETFIQ, FLAO, buffer ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/flao

The outcome band for FLAO, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Buffer
The first slice of loss the fund absorbs for you over its outcome period, stated on the reference index. A 15% buffer means the index can fall 15% before you take any of it.
Cap
The most the fund can return over the period if held from the first day to the last. Quoted gross and net of fees. Set by the option market on day one, so the same fund can have a different cap each year.
Outcome period
The window, usually twelve months and sometimes six or three, over which the buffer and, where there is one, the cap apply. On its last day the options expire, the fund resets, and fresh terms are struck from that day’s option prices.
Reset
The day one outcome period ends and the next begins, with a fresh buffer and fresh terms struck at that day’s level.
Protection left
How much of the buffer still sits below today’s index level. All of it when the index is above its starting level; less once the index is inside the buffer range.
Full definitions: buffer ETFs vocabulary page. →
Embed this chart

Free to use with the credit link. Paste this where the chart should go; it updates every trading night.

FLAO: FLAO: reference +1.3% since period start, fund +0.8%; buffer −5 to floor; cap +7.1%; Full floor. Data to Oct 28, 2026.
<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/flao"><img src="https://etfiq.com/assistant/api/embed/buffer/flao.svg" alt="FLAO: FLAO: reference +1.3% since period start, fund +0.8%; buffer −5 to floor; cap +7.1%; Full floor. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">FLAO: FLAO: reference +1.3% since period start, fund +0.8%; buffer −5 to floor; cap +7.1%; Full floor. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/flao">ETFIQ</a></figcaption>
</figure>

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Snapshot, Oct 28, 2026. More on the tabs above.