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AllianzIM Buffered ETFs Investor Guide

Allianz Investment Management's May 2026 investor guide explains its buffered ETFs, which aim to cushion reference asset losses of 5%, 10%, 15% or 20% per outcome period.

Read the full paper at Allianz Investment Management ↗
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Buffer· 12 pages · PDF

What it says

Figures as stated by Allianz Investment Management, May 6, 2026
  • Allianz Investment Management reports a 5yr annualized NAV return of 10.93% for its U.S. Equity Buffer10 Jul ETF as of 12/31/25, net of a 0.74% fee.AllianzIM, p. 10
  • Allianz Investment Management puts the 5yr annualized NAV return of its U.S. Equity Buffer20 Jul ETF at 8.57% over the same span ending 12/31/25.AllianzIM, p. 10
  • Allianz Investment Management states that holders bear losses past the buffer in full, and yearly management fees range from 0.64% to 0.79% of daily net assets.AllianzIM, p. 12
  • Allianz Investment Management, citing Morningstar Direct, notes that since 1957 the S&P 500 fell more than 20% in only three years and more than 10% in 12 years.AllianzIM, p. 4
  • Allianz Investment Management shows that a 20% loss needs a 25% gain unbuffered versus 11.11% when a 10% buffer applies, before fees.AllianzIM, p. 4

The ETFIQ take

ETFIQ data to Oct 21, 2026 · 431 buffer ETFs on Oct 21, 2026

Allianz Investment Management reports its buffered ETFs seek to cushion reference asset losses of 5%, 10%, 15% or 20% over each outcome period. On Oct 21, 2026, 107 of 431 buffer ETFs from 8 issuers sat at their cap, so they had no further upside this outcome period.

107 of 431buffer ETFs at their capOct 21, 2026 · ETFIQ →8issuers with a buffer ETFOct 21, 2026 · ETFIQ →
Paper: AllianzIM buffered ETFs, 3, 6 and 12 month outcome periods. ETFIQ: 431 buffer ETFs on Oct 21, 2026. Each fund is read against its own outcome period and the cap its issuer states. The two sets and windows differ; the figures are stated, not reconciled.MethodData

Related ETFs

The funds the paper names that ETFIQ covers
SPYSPDR S&P 500 ETF Trust+16.4%

Figure: total return, 1 year, to Oct 21, 2026, from each fund’s page. All 431 buffer ETFs →

Related papers

Same topic, other sources
aAllianz Investment ManagementIssuer
Deconstructing buffered ETFsApr 22, 2026 · ETFIQ take
All 2 papers on buffer →

Questions people ask

What does the Allianz Investment Management paper conclude?

Allianz Investment Management's May 2026 investor guide explains its buffered ETFs, which aim to cushion reference asset losses of 5%, 10%, 15% or 20% per outcome period. The paper’s own words are at the link above.

What does ETFIQ’s data show on the same question?

On Oct 21, 2026, 107 of 431 buffer ETFs from 8 issuers sat at their cap, so they had no further upside this outcome period. ETFIQ states both figures and does not reconcile them.

What is a buffer ETF?

A fund that holds options so that, over a stated outcome period, it absorbs a stated part of an index’s fall and gives up gains above a cap. More on this →

Where can I read “AllianzIM Buffered ETFs Investor Guide”?

On Allianz Investment Management’s own site. ETFIQ summarizes the paper and does not host it. Allianz Investment Management’s page ↗
Cite this pageCitation, APA and Markdown

ETFIQ, AllianzIM Buffered ETFs Investor Guide (Allianz Investment Management), summary and ETFIQ take, as of Oct 21, 2026. https://etfiq.com/research/library/allianzim-allianzim-buffered-etfs-investor-guide/

Open data →

Summary by ETFIQ. ETFIQ is not affiliated with Allianz Investment Management; logos identify the source.