JULW vs. AIOO

Last updated Jul 14, 2026

JULW (AllianzIM U.S. Large Cap Buffer20 Jul ETF) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both exchange-traded funds - JULW is a Options Trading fund actively managed by Allianz, while AIOO is a Defined Outcome fund actively managed by Allianz. Both are actively managed. Over the past year, JULW returned 9.57% vs 5.09% for AIOO. A 0.72 correlation means they provide meaningful diversification when combined. JULW charges 0.74%/yr vs 0.64%/yr for AIOO.

Performance

JULW vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) 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, JULW achieves a 4.34% return, which is significantly higher than AIOO's 2.42% return.

JULW

• 1D: -0.35%
• 1M: 0.38%
• 6M: 3.81%
• YTD: 4.34%
• 1Y: 9.57%
• 3Y*: 10.86%
• 5Y*: 9.02%
• 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)

JULW vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
JULW AllianzIM U.S. Large Cap Buffer20 Jul ETF	4.34%	5.25%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.42%	2.65%

Correlation

The correlation between JULW and AIOO is 0.73, 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	0.73
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.72

The correlation between JULW and AIOO has been stable across timeframes, ranging from 0.72 to 0.73 - a consistent structural relationship.

Return for Risk

JULW vs. AIOO — Risk / Return Rank

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

JULW

JULW Risk / Return Rank: 89
JULW Sharpe Ratio Rank: 89
JULW Sortino Ratio Rank: 92
JULW Omega Ratio Rank: 92
JULW Calmar Ratio Rank: 78
JULW Martin Ratio Rank: 93

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.

JULW vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) 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.

	JULW	AIOO	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.48	-0.14
Sortino ratio: Return per unit of downside risk	3.59	3.84	-0.24
Omega ratio: Gain probability vs. loss probability	1.50	1.48	+0.02
Calmar ratio: Return relative to maximum drawdown	3.24	6.90	-3.65
Martin ratio: Return relative to average drawdown	18.50	19.91	-1.40

JULW vs. AIOO - Sharpe Ratio Comparison

The current JULW Sharpe Ratio is 2.34, which is comparable to the AIOO Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of JULW 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

JULW vs. AIOO - Drawdown Comparison

The maximum JULW drawdown since its inception was -9.49%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for JULW and AIOO.

Drawdown Indicators

	JULW	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-9.49%	-0.74%	-8.75%
Max Drawdown (1Y) Largest decline over 1 year	-2.96%	-0.74%	-2.22%
Max Drawdown (3Y) Largest decline over 3 years	-9.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.49%	—	—
Current Drawdown Current decline from peak	-0.35%	-0.06%	-0.29%
Average Drawdown Average peak-to-trough decline	-0.90%	-0.18%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	0.26%	+0.26%

Volatility

JULW vs. AIOO - Volatility Comparison

AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) and AllianzIM U.S. Equity Buffer100 Protection ETF (AIOO) have volatilities of 0.73% and 0.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JULW	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.70%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	3.24%	1.42%	+1.82%
Volatility (1Y) Calculated over the trailing 1-year period	4.12%	2.06%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.89%	2.05%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.49%	2.05%	+4.44%

JULW vs. AIOO - Expense Ratio Comparison

JULW has a 0.74% expense ratio, which is higher than AIOO's 0.64% expense ratio.

Dividends

JULW vs. AIOO - Dividend Comparison

Neither JULW nor AIOO has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JULW AllianzIM U.S. Large Cap Buffer20 Jul ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.04%

Frequently Asked Questions

Can I hold both JULW and AIOO in my portfolio?

JULW and AIOO have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULW or AIOO?

JULW has higher volatility (0.73%) compared to AIOO (0.70%). In terms of maximum drawdown, JULW dropped -9.49% vs AIOO's -0.74%.

Which ETF is better, JULW or AIOO?

On 1-year performance, JULW leads with 9.57% vs 5.09% for AIOO. On fees, AIOO is cheaper at 0.64% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULW or AIOO?

Over the 1-year period, JULW has performed better with a 9.57% return vs 5.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULW or AIOO?

AIOO is cheaper with a 0.64% expense ratio, compared with 0.74% for JULW.

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

JULW and AIOO have nearly identical dividend yields, around 0.00%.

What is the main difference between JULW and AIOO?

JULW is categorized as Options Trading, while AIOO is Defined Outcome. Their fees differ too: 0.74% for JULW and 0.64% for AIOO.

Which has better risk-adjusted returns?

AIOO currently has the higher Sharpe Ratio (2.48 vs 2.34), 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.