{
 "ticker": "SPBW",
 "name": "AllianzIM Buffer20 Allocation ETF",
 "issuer": "AllianzIM",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/spbw",
 "html": "https://etfiq.com/funds/spbw",
 "markdown": "https://etfiq.com/funds/spbw.md",
 "as_of": "2026-10-09",
 "verdict": "As of Oct 9, 2026, SPBW's 12 sleeves can still gain 5.5% on average and can fall 5.6% before their buffers.",
 "key_facts": [
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "5.5%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SPBW, can still gain, weighted: 5.5%, as of Oct 9, 2026."
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "5.6%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SPBW, fall before the buffers, weighted: 5.6%, as of Oct 9, 2026."
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "20.0%",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SPBW, protection left, weighted, index points: 20.0%, as of Oct 9, 2026."
  },
  {
   "key": "days_to_the_next_reset",
   "label": "Days to the next reset",
   "value": "21",
   "source": null,
   "as_of": "2026-10-09",
   "sentence": "SPBW, days to the next reset: 21, as of Oct 9, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$84m on Jul 31, 2026",
   "source": "N-PORT",
   "as_of": "2026-10-09",
   "sentence": "SPBW, net assets: $84m on Jul 31, 2026 (N-PORT)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.79%",
   "source": "485BPOS XBRL, Feb 27, 2026",
   "as_of": "2026-10-09",
   "sentence": "SPBW, expense ratio: 0.79% (485BPOS XBRL, Feb 27, 2026)."
  }
 ],
 "fields": [
  {
   "key": "kind",
   "label": "Kind",
   "value": "Laddered buffer ETF: a fund of 12 buffer ETFs",
   "source": null
  },
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "SPY",
   "source": null
  },
  {
   "key": "sleeves",
   "label": "Sleeves",
   "value": "NVBW, DECW, JANW, FEBW, MARW, APRW, MAYW, JUNW, JULW, AUGW, SEPW, OCTW",
   "source": null
  },
  {
   "key": "sleeve_outcome_periods",
   "label": "Sleeve outcome periods",
   "value": "about 12 months each, ending on 12 different dates",
   "source": null
  },
  {
   "key": "weights",
   "label": "Weights",
   "value": "its report for Jul 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "share_of_net_assets_in_the_sleeves_etfiq_reads",
   "label": "Share of net assets in the sleeves ETFIQ reads",
   "value": "100.00%",
   "source": null
  },
  {
   "key": "can_still_gain_weighted",
   "label": "Can still gain, weighted",
   "value": "5.5%",
   "source": "ETFIQ"
  },
  {
   "key": "fall_before_the_buffers_weighted",
   "label": "Fall before the buffers, weighted",
   "value": "5.6%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_weighted_index_points",
   "label": "Protection left, weighted, index points",
   "value": "20.0%",
   "source": "ETFIQ"
  },
  {
   "key": "next_sleeve_to_reset",
   "label": "Next sleeve to reset",
   "value": "NVBW on Oct 31, 2026, in 21 days",
   "source": null
  },
  {
   "key": "days_left_weighted",
   "label": "Days left, weighted",
   "value": "188",
   "source": "ETFIQ"
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$84m on Jul 31, 2026",
   "source": "N-PORT"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.79%",
   "source": "485BPOS XBRL, Feb 27, 2026"
  },
  {
   "key": "sleeve_nvbw_8_36_of_net_assets",
   "label": "Sleeve NVBW, 8.36% of net assets",
   "value": "SPY, period ends Oct 31, 2026, can still gain 0.6%, fall before buffer 9.8%",
   "source": null
  },
  {
   "key": "sleeve_decw_8_42_of_net_assets",
   "label": "Sleeve DECW, 8.42% of net assets",
   "value": "SPY, period ends Nov 30, 2026, can still gain 1.3%, fall before buffer 9.1%",
   "source": null
  },
  {
   "key": "sleeve_janw_8_34_of_net_assets",
   "label": "Sleeve JANW, 8.34% of net assets",
   "value": "SPY, period ends Dec 31, 2026, can still gain 1.9%, fall before buffer 7.9%",
   "source": null
  },
  {
   "key": "sleeve_febw_8_34_of_net_assets",
   "label": "Sleeve FEBW, 8.34% of net assets",
   "value": "SPY, period ends Jan 31, 2027, can still gain 2.7%, fall before buffer 7.2%",
   "source": null
  },
  {
   "key": "sleeve_marw_8_37_of_net_assets",
   "label": "Sleeve MARW, 8.37% of net assets",
   "value": "SPY, period ends Feb 28, 2027, can still gain 3.2%, fall before buffer 7.0%",
   "source": null
  },
  {
   "key": "sleeve_aprw_8_30_of_net_assets",
   "label": "Sleeve APRW, 8.30% of net assets",
   "value": "SPY, period ends Mar 31, 2027, can still gain 3.3%, fall before buffer 7.8%",
   "source": null
  },
  {
   "key": "sleeve_mayw_8_22_of_net_assets",
   "label": "Sleeve MAYW, 8.22% of net assets",
   "value": "SPY, period ends Apr 30, 2027, can still gain 5.6%, fall before buffer 5.1%",
   "source": null
  },
  {
   "key": "sleeve_junw_8_20_of_net_assets",
   "label": "Sleeve JUNW, 8.20% of net assets",
   "value": "SPY, period ends May 31, 2027, can still gain 8.5%, fall before buffer 3.2%",
   "source": null
  },
  {
   "key": "sleeve_julw_8_33_of_net_assets",
   "label": "Sleeve JULW, 8.33% of net assets",
   "value": "SPY, period ends Jun 30, 2027, can still gain 8.4%, fall before buffer 3.5%",
   "source": null
  },
  {
   "key": "sleeve_augw_8_38_of_net_assets",
   "label": "Sleeve AUGW, 8.38% of net assets",
   "value": "SPY, period ends Jul 31, 2027, can still gain 8.8%, fall before buffer 3.0%",
   "source": null
  },
  {
   "key": "sleeve_sepw_8_36_of_net_assets",
   "label": "Sleeve SEPW, 8.36% of net assets",
   "value": "SPY, period ends Aug 31, 2027, can still gain 10.4%, fall before buffer 1.8%",
   "source": null
  },
  {
   "key": "sleeve_octw_8_36_of_net_assets",
   "label": "Sleeve OCTW, 8.36% of net assets",
   "value": "SPY, period ends Sep 30, 2027, can still gain 10.9%, fall before buffer 1.7%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+2.5%",
   "SPY price return": "+3.1%",
   "Gap to SPY": "\u22120.6 pts"
  },
  {
   "window": "6 months",
   "Total return": "+6.5%",
   "SPY price return": "+14.6%",
   "Gap to SPY": "\u22128.1 pts"
  },
  {
   "window": "1 year",
   "Total return": "+9.7%",
   "SPY price return": "+16.0%",
   "Gap to SPY": "\u22126.3 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+18.1%",
   "SPY price return": "+32.1%",
   "Gap to SPY": "\u221214.0 pts"
  }
 ],
 "questions": [
  {
   "q": "What does SPBW hold?",
   "a": "SPBW holds 12 buffer ETFs: NVBW, DECW, JANW, FEBW, MARW, APRW, MAYW, JUNW, JULW, AUGW, SEPW, OCTW. Its N-PORT for Jul 31, 2026 puts 100.0% of its net assets in them."
  },
  {
   "q": "How much can SPBW still gain?",
   "a": "Weighted by its N-PORT, SPBW's sleeves can still gain 5.5% as of Oct 9, 2026, each sleeve's issuer figure in fund-price terms."
  },
  {
   "q": "When does SPBW reset?",
   "a": "SPBW itself does not reset. Each sleeve resets on its own date; the next is NVBW on Oct 31, 2026, in 21 days."
  }
 ],
 "generated": "2026-10-09",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, SPBW, buffer ETFs, data as of Oct 9, 2026. https://etfiq.com/funds/spbw"
}