JANZ vs. AIOO

Last updated Jul 14, 2026

JANZ (TrueShares Structured Outcome (January) ETF) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, JANZ returned 15.56% vs 5.09% for AIOO. A 0.79 correlation means they provide meaningful diversification when combined. JANZ charges 0.79%/yr vs 0.64%/yr for AIOO.

Performance

JANZ vs. AIOO - Performance Comparison

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

Returns By Period

In the year-to-date period, JANZ achieves a 7.59% return, which is significantly higher than AIOO's 2.42% return.

JANZ

• 1D: -0.68%
• 1M: 0.89%
• 6M: 6.02%
• YTD: 7.59%
• 1Y: 15.56%
• 3Y*: 14.54%
• 5Y*: 10.02%
• 10Y*: —

AIOO

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

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

JANZ vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
JANZ TrueShares Structured Outcome (January) ETF	7.59%	8.19%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.42%	2.65%

Correlation

The correlation between JANZ and AIOO is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.79

The correlation between JANZ and AIOO has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

JANZ vs. AIOO — Risk / Return Rank

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

JANZ

JANZ Risk / Return Rank: 58
JANZ Sharpe Ratio Rank: 57
JANZ Sortino Ratio Rank: 56
JANZ Omega Ratio Rank: 55
JANZ Calmar Ratio Rank: 58
JANZ Martin Ratio Rank: 66

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

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.

JANZ vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (January) ETF (JANZ) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO). 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.

	JANZ	AIOO	Difference
Sharpe ratio: Return per unit of total volatility	1.54	2.48	-0.94
Sortino ratio: Return per unit of downside risk	2.16	3.84	-1.68
Omega ratio: Gain probability vs. loss probability	1.27	1.48	-0.20
Calmar ratio: Return relative to maximum drawdown	2.29	6.90	-4.61
Martin ratio: Return relative to average drawdown	9.38	19.91	-10.52

JANZ vs. AIOO - Sharpe Ratio Comparison

The current JANZ Sharpe Ratio is 1.54, which is lower than the AIOO Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of JANZ and AIOO, 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

JANZ vs. AIOO - Drawdown Comparison

The maximum JANZ drawdown since its inception was -18.11%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for JANZ and AIOO.

Drawdown Indicators

	JANZ	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-18.11%	-0.74%	-17.37%
Max Drawdown (1Y) Largest decline over 1 year	-6.83%	-0.74%	-6.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.33%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.11%	—	—
Current Drawdown Current decline from peak	-1.15%	-0.06%	-1.09%
Average Drawdown Average peak-to-trough decline	-3.45%	-0.18%	-3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	0.26%	+1.40%

Volatility

JANZ vs. AIOO - Volatility Comparison

TrueShares Structured Outcome (January) ETF (JANZ) has a higher volatility of 3.71% compared to AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) at 0.70%. This indicates that JANZ's price experiences larger fluctuations and is considered to be riskier than AIOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANZ	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	0.70%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	8.11%	1.42%	+6.69%
Volatility (1Y) Calculated over the trailing 1-year period	10.19%	2.06%	+8.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.26%	2.05%	+11.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	2.05%	+10.94%

JANZ vs. AIOO - Expense Ratio Comparison

JANZ has a 0.79% expense ratio, which is higher than AIOO's 0.64% expense ratio.

Dividends

JANZ vs. AIOO - Dividend Comparison

JANZ's dividend yield for the trailing twelve months is around 1.32%, while AIOO has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JANZ TrueShares Structured Outcome (January) ETF	1.32%	1.42%	2.70%	2.58%	0.21%	4.52%

Frequently Asked Questions

Can I hold both JANZ and AIOO in my portfolio?

JANZ and AIOO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JANZ or AIOO?

JANZ has higher volatility (3.71%) compared to AIOO (0.70%). In terms of maximum drawdown, JANZ dropped -18.11% vs AIOO's -0.74%.

Which ETF is better, JANZ or AIOO?

On 1-year performance, JANZ leads with 15.56% 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, JANZ or AIOO?

Over the 1-year period, JANZ has performed better with a 15.56% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANZ or AIOO?

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

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

JANZ has the higher dividend yield at 1.32%, compared with 0.00% for AIOO.

What is the main difference between JANZ and AIOO?

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

Which has better risk-adjusted returns?

AIOO currently has the higher Sharpe Ratio (2.48 vs 1.54), 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.