AUGW vs. OCTW

Last updated Jun 5, 2026

AUGW (AllianzIM U.S. Large Cap Buffer20 Aug ETF) and OCTW (AllianzIM U.S. Equity Buffer20 Oct ETF) are both exchange-traded funds - AUGW is a Options Trading fund actively managed by Allianz, while OCTW is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust. AUGW is actively managed, while OCTW is passively managed. Over the past year, AUGW returned 13.10% vs 12.57% for OCTW. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

AUGW vs. OCTW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Aug ETF (AUGW) and AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUGW achieves a 4.26% return, which is significantly lower than OCTW's 4.72% return.

AUGW

• 1D: 0.09%
• 1M: 1.25%
• YTD: 4.26%
• 6M: 4.69%
• 1Y: 13.10%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTW

• 1D: 0.06%
• 1M: 1.52%
• YTD: 4.72%
• 6M: 5.16%
• 1Y: 12.57%
• 3Y*: 10.88%
• 5Y*: 8.86%
• 10Y*: —

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

AUGW vs. OCTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AUGW AllianzIM U.S. Large Cap Buffer20 Aug ETF	4.26%	11.19%	13.19%	3.32%
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	4.72%	9.68%	8.67%	6.82%

Correlation

The correlation between AUGW and OCTW is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Aug 2, 2023	0.84

The correlation between AUGW and OCTW has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

AUGW vs. OCTW - Sectors Allocation Comparison

Sectors	AUGW	OCTW
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

AUGW vs. OCTW — Risk / Return Rank

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

AUGW

AUGW Risk / Return Rank: 88
AUGW Sharpe Ratio Rank: 86
AUGW Sortino Ratio Rank: 91
AUGW Omega Ratio Rank: 91
AUGW Calmar Ratio Rank: 80
AUGW Martin Ratio Rank: 92

OCTW

OCTW Risk / Return Rank: 82
OCTW Sharpe Ratio Rank: 81
OCTW Sortino Ratio Rank: 86
OCTW Omega Ratio Rank: 88
OCTW Calmar Ratio Rank: 70
OCTW Martin Ratio Rank: 86

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.

AUGW vs. OCTW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Aug ETF (AUGW) and AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW). 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.

	AUGW	OCTW	Difference
Sharpe ratio: Return per unit of total volatility	2.81	2.57	+0.24
Sortino ratio: Return per unit of downside risk	4.24	3.81	+0.42
Omega ratio: Gain probability vs. loss probability	1.59	1.53	+0.06
Calmar ratio: Return relative to maximum drawdown	4.11	3.45	+0.66
Martin ratio: Return relative to average drawdown	22.30	17.79	+4.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUGW vs. OCTW - Sharpe Ratio Comparison

The current AUGW Sharpe Ratio is 2.81, which is comparable to the OCTW Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of AUGW and OCTW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AUGW	OCTW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.81	2.57	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.68	1.48	+0.20

Drawdowns

AUGW vs. OCTW - Drawdown Comparison

The maximum AUGW drawdown since its inception was -8.76%, roughly equal to the maximum OCTW drawdown of -8.38%. Use the drawdown chart below to compare losses from any high point for AUGW and OCTW.

Drawdown Indicators

	AUGW	OCTW	Difference
Max Drawdown Largest peak-to-trough decline	-8.76%	-8.38%	-0.38%
Max Drawdown (1Y) Largest decline over 1 year	-3.20%	-3.65%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.38%	—
Current Drawdown Current decline from peak	0.00%	-0.05%	+0.05%
Average Drawdown Average peak-to-trough decline	-0.74%	-0.82%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	0.71%	-0.12%

Volatility

AUGW vs. OCTW - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Aug ETF (AUGW) is 0.45%, while AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) has a volatility of 0.72%. This indicates that AUGW experiences smaller price fluctuations and is considered to be less risky than OCTW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUGW	OCTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.45%	0.72%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	3.41%	3.80%	-0.39%
Volatility (1Y) Calculated over the trailing 1-year period	4.69%	4.91%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.76%	6.29%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.76%	6.14%	+0.62%

AUGW vs. OCTW - Expense Ratio Comparison

Both AUGW and OCTW have an expense ratio of 0.74%.

Dividends

AUGW vs. OCTW - Dividend Comparison

Neither AUGW nor OCTW has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AUGW and OCTW in my portfolio?

AUGW and OCTW have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUGW or OCTW?

OCTW has higher volatility (0.72%) compared to AUGW (0.45%). In terms of maximum drawdown, AUGW dropped -8.76% vs OCTW's -8.38%.

Which ETF is better, AUGW or OCTW?

On 1-year performance, AUGW leads with 13.10% vs 12.57% for OCTW. Both ETFs have the same 0.74% expense ratio. On volatility, AUGW has been the lower-risk option at 0.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AUGW or OCTW?

Over the 1-year period, AUGW has performed better with a 13.10% return vs 12.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AUGW or OCTW?

AUGW and OCTW have the same expense ratio: 0.74% per year.

Which ETF pays a higher dividend yield, AUGW or OCTW?

AUGW and OCTW have nearly identical dividend yields, around 0.00%.

What is the main difference between AUGW and OCTW?

AUGW is categorized as Options Trading, while OCTW is Defined Outcome.

Which has better risk-adjusted returns?

AUGW currently has the higher Sharpe Ratio (2.81 vs 2.57), 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.