AIOO vs. MMKT

Last updated Jun 4, 2026

AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - AIOO is a Defined Outcome fund actively managed by Allianz, while MMKT is a Money Market fund actively managed by Texas Capital. Both are actively managed. At a correlation of -0.03, they often move in opposite directions. AIOO charges 0.64%/yr vs 0.20%/yr for MMKT.

Performance

AIOO vs. MMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIOO achieves a 2.34% return, which is significantly higher than MMKT's 1.44% return.

AIOO

• 1D: -0.13%
• 1M: 1.13%
• YTD: 2.34%
• 6M: 2.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MMKT

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.44%
• 6M: 1.76%
• 1Y: 3.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AIOO vs. MMKT - Yearly Performance Comparison

	2026 (YTD)	2025
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.34%	2.67%
MMKT Texas Capital Government Money Market ETF	1.44%	2.04%

Correlation

The correlation between AIOO and MMKT is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	-0.03

Return for Risk

AIOO vs. MMKT — Risk / Return Rank

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

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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. MMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) and Texas Capital Government Money Market ETF (MMKT). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AIOO	MMKT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	16.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.79	17.60	-14.82

Drawdowns

AIOO vs. MMKT - Drawdown Comparison

The maximum AIOO drawdown since its inception was -0.74%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for AIOO and MMKT.

Drawdown Indicators

	AIOO	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-0.74%	-0.04%	-0.70%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Current Drawdown Current decline from peak	-0.13%	0.00%	-0.13%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.00%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	AIOO	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.99%	0.23%	+1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.99%	0.23%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.99%	0.23%	+1.76%

AIOO vs. MMKT - Expense Ratio Comparison

AIOO has a 0.64% expense ratio, which is higher than MMKT's 0.20% expense ratio.

Dividends

AIOO vs. MMKT - Dividend Comparison

AIOO has not paid dividends to shareholders, while MMKT's dividend yield for the trailing twelve months is around 3.73%.

Position	TTM	2025	2024
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%	0.00%
MMKT Texas Capital Government Money Market ETF	3.73%	3.98%	1.07%

Frequently Asked Questions

Can I hold both AIOO and MMKT in my portfolio?

AIOO and MMKT have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AIOO or MMKT?

On fees, MMKT is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AIOO or MMKT?

MMKT is cheaper with a 0.20% expense ratio, compared with 0.64% for AIOO.

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

MMKT has the higher dividend yield at 3.73%, compared with 0.00% for AIOO.

What is the main difference between AIOO and MMKT?

AIOO is categorized as Defined Outcome, while MMKT is Money Market. They also come from different issuers: Allianz and Texas Capital. Their fees differ too: 0.64% for AIOO and 0.20% for MMKT.