MARW vs. AIOO

Last updated Jun 4, 2026

MARW (Allianzim U.S. Large Cap Buffer20 Mar ETF) and AIOO (AllianzIM U.S. Equity Buffer100 Protection ETF) are both exchange-traded funds - MARW is a Options Trading fund actively managed by Allianz, while AIOO is a Defined Outcome fund actively managed by Allianz. Both are actively managed. A 0.68 correlation means they provide meaningful diversification when combined. MARW charges 0.74%/yr vs 0.64%/yr for AIOO.

Performance

MARW vs. AIOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allianzim U.S. Large Cap Buffer20 Mar ETF (MARW) 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, MARW achieves a 5.01% return, which is significantly higher than AIOO's 2.34% return.

MARW

• 1D: -0.12%
• 1M: 1.59%
• YTD: 5.01%
• 6M: 5.94%
• 1Y: 12.91%
• 3Y*: 11.31%
• 5Y*: —
• 10Y*: —

AIOO

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

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

MARW vs. AIOO - Yearly Performance Comparison

	2026 (YTD)	2025
MARW Allianzim U.S. Large Cap Buffer20 Mar ETF	5.01%	5.69%
AIOO AllianzIM U.S. Equity Buffer100 Protection ETF	2.34%	2.67%

Correlation

The correlation between MARW and AIOO is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 2, 2025	0.68

Return for Risk

MARW vs. AIOO — Risk / Return Rank

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

MARW

MARW Risk / Return Rank: 89
MARW Sharpe Ratio Rank: 90
MARW Sortino Ratio Rank: 92
MARW Omega Ratio Rank: 95
MARW Calmar Ratio Rank: 77
MARW Martin Ratio Rank: 92

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.

MARW vs. AIOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allianzim U.S. Large Cap Buffer20 Mar ETF (MARW) 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.

	MARW	AIOO	Difference
Sharpe ratio: Return per unit of total volatility	3.07	—	—
Sortino ratio: Return per unit of downside risk	4.50	—	—
Omega ratio: Gain probability vs. loss probability	1.71	—	—
Calmar ratio: Return relative to maximum drawdown	3.83	—	—
Martin ratio: Return relative to average drawdown	22.52	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MARW	AIOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.97	2.79	-0.82

Drawdowns

MARW vs. AIOO - Drawdown Comparison

The maximum MARW drawdown since its inception was -7.58%, which is greater than AIOO's maximum drawdown of -0.74%. Use the drawdown chart below to compare losses from any high point for MARW and AIOO.

Drawdown Indicators

	MARW	AIOO	Difference
Max Drawdown Largest peak-to-trough decline	-7.58%	-0.74%	-6.84%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-7.58%	—	—
Current Drawdown Current decline from peak	-0.12%	-0.13%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.48%	-0.17%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.57%	—	—

Volatility

Volatility by Period

	MARW	AIOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.23%	1.99%	+2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.10%	1.99%	+4.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.10%	1.99%	+4.11%

MARW vs. AIOO - Expense Ratio Comparison

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

Dividends

MARW vs. AIOO - Dividend Comparison

Neither MARW nor AIOO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MARW and AIOO in my portfolio?

MARW and AIOO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MARW or AIOO?

On fees, AIOO is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MARW or AIOO?

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

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

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

What is the main difference between MARW and AIOO?

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