AIOO vs. AUGZ

Last updated Jul 14, 2026

AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) and AUGZ (TrueShares Structured Outcome (August) ETF) are both Defined Outcome funds. AIOO is actively managed, while AUGZ is passively managed. Over the past year, AIOO returned 5.09% vs 15.35% for AUGZ. Their correlation of 0.81 suggests significant overlap in exposure. AIOO charges 0.64%/yr vs 0.79%/yr for AUGZ.

Performance

AIOO vs. AUGZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and TrueShares Structured Outcome (August) ETF (AUGZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIOO achieves a 2.42% return, which is significantly lower than AUGZ's 7.34% return.

AIOO

• 1D: -0.06%
• 1M: 0.32%
• 6M: 2.23%
• YTD: 2.42%
• 1Y: 5.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUGZ

• 1D: -0.76%
• 1M: 0.80%
• 6M: 5.67%
• YTD: 7.34%
• 1Y: 15.35%
• 3Y*: 14.75%
• 5Y*: 10.00%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIOO vs. AUGZ - Yearly Performance Comparison

	2026 (YTD)	2025
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.42%	2.65%
AUGZ TrueShares Structured Outcome (August) ETF	7.34%	8.18%

Correlation

The correlation between AIOO and AUGZ is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.81

The correlation between AIOO and AUGZ has been stable across timeframes, ranging from 0.81 to 0.82 - a consistent structural relationship.

Return for Risk

AIOO vs. AUGZ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIOO

AIOO Risk / Return Rank: 93
AIOO Sharpe Ratio Rank: 91
AIOO Sortino Ratio Rank: 94
AIOO Omega Ratio Rank: 91
AIOO Calmar Ratio Rank: 96
AIOO Martin Ratio Rank: 94

AUGZ

AUGZ Risk / Return Rank: 56
AUGZ Sharpe Ratio Rank: 56
AUGZ Sortino Ratio Rank: 55
AUGZ Omega Ratio Rank: 54
AUGZ Calmar Ratio Rank: 54
AUGZ Martin Ratio Rank: 61

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIOO vs. AUGZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and TrueShares Structured Outcome (August) ETF (AUGZ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AIOO	AUGZ	Difference
Sharpe ratio: Return per unit of total volatility	2.48	1.50	+0.97
Sortino ratio: Return per unit of downside risk	3.84	2.11	+1.73
Omega ratio: Gain probability vs. loss probability	1.48	1.27	+0.21
Calmar ratio: Return relative to maximum drawdown	6.90	2.13	+4.76
Martin ratio: Return relative to average drawdown	19.91	8.50	+11.41

AIOO vs. AUGZ - Sharpe Ratio Comparison

The current AIOO Sharpe Ratio is 2.48, which is higher than the AUGZ Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of AIOO and AUGZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AIOO vs. AUGZ - Drawdown Comparison

The maximum AIOO drawdown since its inception was -0.74%, smaller than the maximum AUGZ drawdown of -15.67%. Use the drawdown chart below to compare losses from any high point for AIOO and AUGZ.

Drawdown Indicators

	AIOO	AUGZ	Difference
Max Drawdown Largest peak-to-trough decline	-0.74%	-15.67%	+14.93%
Max Drawdown (1Y) Largest decline over 1 year	-0.74%	-7.23%	+6.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.67%	—
Current Drawdown Current decline from peak	-0.06%	-1.41%	+1.35%
Average Drawdown Average peak-to-trough decline	-0.18%	-3.09%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.81%	-1.55%

Volatility

AIOO vs. AUGZ - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) is 0.70%, while TrueShares Structured Outcome (August) ETF (AUGZ) has a volatility of 3.89%. This indicates that AIOO experiences smaller price fluctuations and is considered to be less risky than AUGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIOO	AUGZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	3.89%	-3.19%
Volatility (6M) Calculated over the trailing 6-month period	1.42%	8.32%	-6.90%
Volatility (1Y) Calculated over the trailing 1-year period	2.06%	10.27%	-8.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.05%	12.09%	-10.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.05%	12.14%	-10.09%

AIOO vs. AUGZ - Expense Ratio Comparison

AIOO has a 0.64% expense ratio, which is lower than AUGZ's 0.79% expense ratio.

Dividends

AIOO vs. AUGZ - Dividend Comparison

AIOO has not paid dividends to shareholders, while AUGZ's dividend yield for the trailing twelve months is around 3.38%.

Position	TTM	2025	2024	2023	2022
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%	0.00%	0.00%	0.00%
AUGZ TrueShares Structured Outcome (August) ETF	3.38%	3.63%	4.08%	3.42%	0.41%

Frequently Asked Questions

Can I hold both AIOO and AUGZ in my portfolio?

AIOO and AUGZ have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIOO or AUGZ?

AUGZ has higher volatility (3.89%) compared to AIOO (0.70%). In terms of maximum drawdown, AIOO dropped -0.74% vs AUGZ's -15.67%.

Which ETF is better, AIOO or AUGZ?

On 1-year performance, AUGZ leads with 15.35% vs 5.09% for AIOO. On fees, AIOO is cheaper at 0.64% per year. On volatility, AIOO has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIOO or AUGZ?

Over the 1-year period, AUGZ has performed better with a 15.35% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIOO or AUGZ?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.79% for AUGZ.

Which ETF pays a higher dividend yield, AIOO or AUGZ?

AUGZ has the higher dividend yield at 3.38%, compared with 0.00% for AIOO.

What is the main difference between AIOO and AUGZ?

They also come from different issuers: Allianz and TrueShares. Their fees differ too: 0.64% for AIOO and 0.79% for AUGZ.

Which has better risk-adjusted returns?

AIOO currently has the higher Sharpe Ratio (2.48 vs 1.50), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.