Invest in a full portfolio of buffered ETFs with one ticker. SPBW offers diversified exposure to the S&P 500® with a level of downside protection by investing in the entire suite of AllianzIM U.S. Large Cap Buffer20 ETFs. Each month, one of the underlying ETFs resets back to a full 20% buffer for its new 12-month outcome period, with an adjusted cap based on market volatility.
| Ticker | SPBW |
| Fund Name | AllianzIM Buffer20 Allocation ETF |
| Strategy | U.S. Buffer Allocation |
| Inception Date | 1/7/2025 |
| Management Fee | 0.10% |
| + Acquired Fund Fees and Expenses | 0.74% |
| - Fee WaiverMore info Management Fee reduced from 0.10% to 0.05% through at least 2/28/2026, at which time the fee waiver may be terminated or renewed. |
0.05% |
| = Net Expense Ratio | 0.79% |
| CUSIP | 00888H463 |
| ISIN | US00888H4636 |
| Exchange | NYSE Arca |
| NAV Per Share | |
| Net Assets | |
| Shares of ETF Outstanding |
As of
| Closing Price | $25.03 |
| Premium/Discount | 0.17% / $0.04 |
As of 1/8/2025
The underlying Buffered Outcome ETFs investment strategies are different from more typical investment products, and the funds may be unsuitable for some investors. It is important that investors understand the investment strategy before making an investment.
Premium/Discounts are as of the end of each business day. Rounding is to the hundredth decimal point as a percentage. Data is provided by ETF Global LLC.
|
Name
|
Ticker
|
CUSIP
|
Shares
|
Market Value
|
% of Market Value
|
|---|
The following chart shows outcome period performance for the fund and reference asset, including starting caps and buffers for each of the underlying ETFs.
Unlike the Underlying ETFs, the Fund itself does not pursue a buffered strategy nor is it subject to a Cap. The Buffer is only provided by the Underlying ETFs and the Fund itself does not provide any stated Buffer against losses. The laddered approach of the Fund may cause the Fund to not receive the full intended benefit of any individual Underlying ETF’s Buffer. The Fund could have limited upside potential and its return is limited by the Caps of the Underlying ETFs.
Underlying buffers and caps will be reduced after taking into account management fees and other fund fees and expenses.
|
|
YTD
|
1 Year
|
3 Year
|
5 Year
|
Inception
|
|---|---|---|---|---|---|
| Monthly (As of ) | |||||
| ETF NAV | |||||
| ETF closing price | |||||
| S&P 500® Price Return Index | |||||
| Quarterly (As of ) | |||||
| ETF NAV | |||||
| ETF closing price | |||||
| S&P 500® Price Return Index |
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Returns less than one year are cumulative.
Investors cannot directly invest in an index.
|
|
|
|
|---|---|---|
| Days traded at Premium | ||
| Days traded at NAV | ||
| Days traded at Discount |
The above table and line graphs are provided to show the frequency at which the closing price of the Fund was at a premium (above), discount (below) or equal to the daily net asset value ("NAV'') as compared to the Fund's NAV.
Content herein provides premium/discount data for the recently completed calendar year and the most recently completed calendar quarters since that year (or the life of the exchange-traded fund, if shorter).
Talk to a financial professional
The fund seeks to provide capital appreciation with downside risk mitigation. Fees and expenses will reduce performance. There is no guarantee the funds will achieve their investment objectives. You may lose your entire investment, regardless of when you purchase shares, and even if you hold shares for an entire Outcome Period. The Fund may not be suitable for all investors.
Shareholders of these funds will experience investment returns that are different than the investment returns sought by the underlying ETFs.
Unlike the Underlying ETFs, the Buffer Allocation Funds do not pursue a buffered strategy. The buffer is only provided by the Underlying ETFs and the Buffer Allocation Funds themselves do not provide any stated buffer against losses. The Buffer Allocation Funds will not receive the full benefit of the Underlying ETFs’ Buffers. The Buffer Allocation Funds could have limited upside potential, and their return may be limited to the Caps of the Underlying ETFs. The underlying Buffered Outcome ETFs investment strategies are different from more typical investment products, and the funds may be unsuitable for some investors. It is important that investors understand the investment strategy before making an investment. For more information regarding whether an investment in the Funds is right for you, please see the prospectus including “Investor Considerations." There is no guarantee the Funds will achieve their investment objectives.
The underlying fund's assets are expected to be principally composed of FLEX Options, the value of which is derived from the performance of their underlying reference asset. However, because the value of the underlying FLEX Options is affected by, among other things, changes in the value of the reference asset, changes in interest rates, changes in the actual and implied volatility of the reference asset, and the remaining time until the FLEX Options expire, the underlying fund's NAV will not directly correlate on a day-to-day basis with the returns experienced by their reference asset. While the fund’s investment adviser, Allianz Investment Management LLC, generally anticipates that the fund’s NAV will move in a similar direction as their reference asset, the fund’s NAV may not increase or decrease at the same rate as their reference asset, and it is possible they may move in different directions. During the underlying funds outcome period, the movement of the fund’s NAV is not anticipated to match that of the reference asset.
The Funds are classified as non-diversified and may invest a relatively high percentage of its assets in a limited number of issuers. The funds may engage in active and frequent trading of portfolio securities in attempting to meet its investment objective.
The Buffer Allocation Funds’ Principal Risks include fund-of-funds risk, management risk, underlying ETF risk, non-diversification risk, tax risk from investment in underlying ETFs, market risk, premium/discount risk, large shareholder risk, active markets risk, operational risk, authorized participant concentration risk, trading issues risk, and market maker risk. In addition, the Funds bear the investment risks of the investments of the Underlying ETFs. The principal risks associated with each Underlying ETF include FLEX options risk, buffered loss risk, capped upside return risk, upside participation risk, correlation risk, cap change risk, investment objective risk, outcome period risk, downside risk, counterparty risk, valuation risk, liquidity risk, tax risk, SPY ETF risk, equity securities risk, large-cap companies risk, information technology sector risk, and cash transactions risk.
Shares of the Fund trade on the Exchange at market prices that may be below, at or above the Fund’s NAV. The market prices of the Shares generally will fluctuate in accordance with changes in NAV, as well as the relative supply of and demand for Shares on the Exchange. Brokerage commission will reduce returns.
Investing involves risk including possible loss of principal. Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the Fund, please call 877.429.3837 or review the prospectus. Read the prospectus carefully before investing.
Allianz Investment Management LLC serves as the ETFs’ investment adviser.
Allianz Investment Management LLC (AllianzIM) is a registered investment adviser and wholly owned subsidiary of Allianz Life Insurance Company of North America.
Distributed by Foreside Fund Services, LLC, Foreside Fund Services, LLC is not affiliated with Allianz Investment Management LLC or Allianz Life Insurance Company of North America.