{"url":"https://etfiq.com/research/library/allianzim-allianzim-buffered-etfs-investor-guide/","section":"research","title":"AllianzIM Buffered ETFs Investor Guide | ETFIQ","description":"Allianz Investment Management\u2019s paper \u201cAllianzIM Buffered ETFs Investor Guide\u201d, summarized by ETFIQ with its own data beside it. Summary by ETFIQ.","as_of":"Oct 21, 2026","structured_data":[{"@type":"Report","name":"Summary: AllianzIM Buffered ETFs Investor Guide","headline":"AllianzIM Buffered ETFs Investor Guide","url":"https://etfiq.com/research/library/allianzim-allianzim-buffered-etfs-investor-guide/","datePublished":"2026-10-21","dateModified":"2026-10-21","author":{"@id":"https://etfiq.com/#org"},"publisher":{"@id":"https://etfiq.com/#org"},"about":"Buffer ETFs","abstract":"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.","isBasedOn":"https://www.allianzim.com/wp-content/uploads/files/Buffered_ETF_Investor_Guide.pdf","citation":{"@type":"Report","name":"AllianzIM Buffered ETFs Investor Guide","url":"https://www.allianzim.com/wp-content/uploads/files/Buffered_ETF_Investor_Guide.pdf","datePublished":"2026-05-06","publisher":{"@type":"Organization","name":"Allianz Investment Management","url":"https://www.allianzim.com/"},"author":{"@type":"Organization","name":"Allianz Investment Management"}},"inLanguage":"en"},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What does the Allianz Investment Management paper conclude?","acceptedAnswer":{"@type":"Answer","text":"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\u2019s own words are at the link above."}},{"@type":"Question","name":"What does ETFIQ\u2019s data show on the same question?","acceptedAnswer":{"@type":"Answer","text":"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."}},{"@type":"Question","name":"What is a buffer ETF?","acceptedAnswer":{"@type":"Answer","text":"A fund that holds options so that, over a stated outcome period, it absorbs a stated part of an index\u2019s fall and gives up gains above a cap."}},{"@type":"Question","name":"Where can I read \u201cAllianzIM Buffered ETFs Investor Guide\u201d?","acceptedAnswer":{"@type":"Answer","text":"On Allianz Investment Management\u2019s own site. ETFIQ summarizes the paper and does not host it."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Research","item":"https://etfiq.com/research/"},{"@type":"ListItem","position":3,"name":"Library","item":"https://etfiq.com/research/library/"},{"@type":"ListItem","position":4,"name":"Allianz Investment Management","item":"https://etfiq.com/research/library/allianzim/"},{"@type":"ListItem","position":5,"name":"AllianzIM Buffered ETFs Investor Guide","item":"https://etfiq.com/research/library/allianzim-allianzim-buffered-etfs-investor-guide/"}]},{"@type":"WebPage","name":"AllianzIM Buffered ETFs Investor Guide","description":"Allianz Investment Management\u2019s paper \u201cAllianzIM Buffered ETFs Investor Guide\u201d, summarized by ETFIQ with its own data beside it. Summary by ETFIQ.","url":"https://etfiq.com/research/library/allianzim-allianzim-buffered-etfs-investor-guide/","dateModified":"2026-10-21","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":3894,"truncated":false,"content":"ETFIQ / Research / Library / Allianz Investment Management / AllianzIM Buffered ETFs Investor Guide \n \n Published May 6, 2026 by Allianz Investment Management. Summary by ETFIQ as of Oct 21, 2026.\n AllianzIM Buffered ETFs Investor Guide\n 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. \n Allianz Investment Management \u00b7 Issuer \u00b7 Read the full paper at Allianz Investment Management \u2197 \n What it says\n Figures as stated by Allianz Investment Management, May 6, 2026\n 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)\n 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)\n 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)\n 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)\n 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)\n The ETFIQ take\n ETFIQ data to Oct 21, 2026 \u00b7 431 buffer ETFs on Oct 21, 2026\n 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.\n 107 of 431 buffer ETFs at their cap , Oct 21, 2026. ETFIQ \n 8 issuers with a buffer ETF , Oct 21, 2026. ETFIQ \n\n 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. Method Data \n\n Related ETFs\n The funds the paper names that ETFIQ covers\n SPY SPDR S&P 500 ETF Trust: +16.4%\n Figure: total return, 1 year, to Oct 21, 2026, from each fund\u2019s page. All 431 buffer ETFs \u2192 \n Related papers\n Allianz Investment Management \u00b7 Issuer \u00b7 Apr 22, 2026 \u00b7 ETFIQ take\n Deconstructing buffered ETFs \n In an April 2026 explainer, Allianz Investment Management describes how its buffered ETFs stack three options layers to provide a 10% or 20% cushion against losses.\n Buffer Read the paper \u2197 \n All 2 papers on buffer \u2192 \n Questions people ask\n 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\u2019s own words are at the link above. What does ETFIQ\u2019s 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\u2019s fall and gives up gains above a cap. Where can I read \u201cAllianzIM Buffered ETFs Investor Guide\u201d? On Allianz Investment Management\u2019s own site. ETFIQ summarizes the paper and does not host it. 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/ Free to use with attribution . Open data \n Summary by ETFIQ. ETFIQ is not affiliated with Allianz Investment Management; logos identify the source.","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"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, 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/"}