MARW vs. AUGT

Last updated Aug 4, 2026

MARW (Allianzim U.S. Large Cap Buffer20 Mar ETF) and AUGT (AllianzIM U.S. Large Cap Buffer10 Aug ETF) are both Options Trading funds from Allianz. Both are actively managed. Over the past 3 years, MARW returned 10.87%/yr vs 16.42%/yr for AUGT. Their correlation of 0.89 means they have usually moved in the same direction. Both charge a 0.74% expense ratio.

Performance

MARW vs. AUGT - 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. Large Cap Buffer10 Aug ETF (AUGT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MARW achieves a 6.02% return, which is significantly lower than AUGT's 8.95% return.

MARW

• 1D: 0.21%
• 1M: 0.80%
• 6M: 5.24%
• YTD: 6.02%
• 1Y: 11.36%
• 3Y*: 10.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.52%

AUGT

• 1D: 0.90%
• 1M: 1.91%
• 6M: 7.62%
• YTD: 8.95%
• 1Y: 16.51%
• 3Y*: 16.42%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AUGT AllianzIM U.S. Large Cap Buffer10 Aug ETF	$375.41K	$191.67K	$205.84K
MARW Allianzim U.S. Large Cap Buffer20 Mar ETF	$38.44K	$36.97K	$82.02K

MARW vs. AUGT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MARW Allianzim U.S. Large Cap Buffer20 Mar ETF	6.02%	10.61%	11.11%	4.02%
AUGT AllianzIM U.S. Large Cap Buffer10 Aug ETF	8.95%	14.64%	19.69%	3.82%

Correlation

The correlation between MARW and AUGT is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (All Time) Calculated using the full available price history since Aug 1, 2023	0.89

The correlation between MARW and AUGT has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

Return for Risk

MARW vs. AUGT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MARW

MARW Risk / Return Rank: 92
MARW Sharpe Ratio Rank: 93
MARW Sortino Ratio Rank: 93
MARW Omega Ratio Rank: 95
MARW Calmar Ratio Rank: 83
MARW Martin Ratio Rank: 94

AUGT

AUGT Risk / Return Rank: 88
AUGT Sharpe Ratio Rank: 89
AUGT Sortino Ratio Rank: 90
AUGT Omega Ratio Rank: 92
AUGT Calmar Ratio Rank: 80
AUGT Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MARW vs. AUGT - 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. Large Cap Buffer10 Aug ETF (AUGT). 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.

	MARW	AUGT	Difference
Sharpe ratio: Return per unit of total volatility	2.62	2.31	+0.30
Sortino ratio: Return per unit of downside risk	3.79	3.32	+0.46
Omega ratio: Gain probability vs. loss probability	1.58	1.46	+0.12
Calmar ratio: Return relative to maximum drawdown	3.37	3.09	+0.27
Martin ratio: Return relative to average drawdown	19.17	16.06	+3.11

MARW vs. AUGT - Sharpe Ratio Comparison

The current MARW Sharpe Ratio is 2.62, which is comparable to the AUGT Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of MARW and AUGT, 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

MARW vs. AUGT - Drawdown Comparison

The maximum MARW drawdown since its inception was -7.58%, smaller than the maximum AUGT drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for MARW and AUGT.

Drawdown Indicators

	MARW	AUGT	Difference
Max Drawdown Largest peak-to-trough decline	-7.58%	-13.12%	+5.54%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-5.36%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-7.58%	-13.12%	+5.54%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.47%	-1.18%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.59%	1.03%	-0.44%

Volatility

MARW vs. AUGT - Volatility Comparison

Allianzim U.S. Large Cap Buffer20 Mar ETF (MARW) and AllianzIM U.S. Large Cap Buffer10 Aug ETF (AUGT) have volatilities of 1.22% and 1.27%, 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

	MARW	AUGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.27%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	3.71%	5.47%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	4.37%	7.19%	-2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.03%	9.98%	-3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.03%	9.98%	-3.95%

MARW vs. AUGT - Expense Ratio Comparison

Both MARW and AUGT have an expense ratio of 0.74%.

Dividends

MARW vs. AUGT - Dividend Comparison

Neither MARW nor AUGT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MARW and AUGT in my portfolio?

MARW and AUGT have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MARW or AUGT?

AUGT has higher volatility (1.27%) compared to MARW (1.22%). In terms of maximum drawdown, MARW dropped -7.58% vs AUGT's -13.12%.

Which ETF is better, MARW or AUGT?

On 3-year performance, AUGT leads with 16.42% vs 10.87% for MARW. Both ETFs have the same 0.74% expense ratio. 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, MARW or AUGT?

Over the 3-year period, AUGT has performed better with a 16.42% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MARW or AUGT?

MARW and AUGT have the same expense ratio: 0.74% per year.

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

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

Which has better risk-adjusted returns?

MARW currently has the higher Sharpe Ratio (2.62 vs 2.31), 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.