OCTW vs. ARLU

Last updated Jun 3, 2026

OCTW (AllianzIM U.S. Equity Buffer20 Oct ETF) and ARLU (Allianzim U.S. Equity Buffer15 Uncapped Apr ETF) are both exchange-traded funds - OCTW is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust, while ARLU is a Options Trading fund actively managed by Allianz. OCTW is passively managed, while ARLU is actively managed. Over the past year, OCTW returned 12.92% vs 20.65% for ARLU. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

OCTW vs. ARLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) and Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCTW achieves a 4.77% return, which is significantly lower than ARLU's 6.98% return.

OCTW

• 1D: 0.01%
• 1M: 1.63%
• YTD: 4.77%
• 6M: 5.36%
• 1Y: 12.92%
• 3Y*: 10.92%
• 5Y*: 8.90%
• 10Y*: —

ARLU

• 1D: 0.16%
• 1M: 4.51%
• YTD: 6.98%
• 6M: 7.15%
• 1Y: 20.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTW vs. ARLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	4.77%	9.68%	5.06%
ARLU Allianzim U.S. Equity Buffer15 Uncapped Apr ETF	6.98%	11.27%	9.00%

Correlation

The correlation between OCTW and ARLU is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024	0.90

The correlation between OCTW and ARLU has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

OCTW vs. ARLU — Risk / Return Rank

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

OCTW

OCTW Risk / Return Rank: 82
OCTW Sharpe Ratio Rank: 80
OCTW Sortino Ratio Rank: 85
OCTW Omega Ratio Rank: 87
OCTW Calmar Ratio Rank: 71
OCTW Martin Ratio Rank: 86

ARLU

ARLU Risk / Return Rank: 52
ARLU Sharpe Ratio Rank: 54
ARLU Sortino Ratio Rank: 52
ARLU Omega Ratio Rank: 54
ARLU Calmar Ratio Rank: 43
ARLU Martin Ratio Rank: 56

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.

OCTW vs. ARLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) and Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU). 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.

	OCTW	ARLU	Difference
Sharpe ratio Return per unit of total volatility	2.64	1.87	+0.78
Sortino ratio Return per unit of downside risk	3.92	2.54	+1.37
Omega ratio Gain probability vs. loss probability	1.55	1.34	+0.21
Calmar ratio Return relative to maximum drawdown	3.62	2.16	+1.46
Martin ratio Return relative to average drawdown	18.66	9.69	+8.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTW vs. ARLU - Sharpe Ratio Comparison

The current OCTW Sharpe Ratio is 2.64, which is higher than the ARLU Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of OCTW and ARLU, 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

	OCTW	ARLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.87	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.48	1.02	+0.46

Drawdowns

OCTW vs. ARLU - Drawdown Comparison

The maximum OCTW drawdown since its inception was -8.38%, smaller than the maximum ARLU drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for OCTW and ARLU.

Drawdown Indicators

	OCTW	ARLU	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-15.38%	+7.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-9.66%	+6.01%
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%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.82%	-2.23%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	2.15%	-1.44%

Volatility

OCTW vs. ARLU - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) is 0.74%, while Allianzim U.S. Equity Buffer15 Uncapped Apr ETF (ARLU) has a volatility of 2.64%. This indicates that OCTW experiences smaller price fluctuations and is considered to be less risky than ARLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTW	ARLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	2.64%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	8.72%	-4.91%
Volatility (1Y) Calculated over the trailing 1-year period	4.92%	11.12%	-6.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	12.57%	-6.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.14%	12.57%	-6.43%

OCTW vs. ARLU - Expense Ratio Comparison

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

Dividends

OCTW vs. ARLU - Dividend Comparison

Neither OCTW nor ARLU has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OCTW and ARLU in my portfolio?

With a correlation of 0.94, OCTW and ARLU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OCTW or ARLU?

ARLU has higher volatility (2.64%) compared to OCTW (0.74%). In terms of maximum drawdown, OCTW dropped -8.38% vs ARLU's -15.38%.

Which ETF is better, OCTW or ARLU?

On 1-year performance, ARLU leads with 20.65% vs 12.92% for OCTW. Both ETFs have the same 0.74% expense ratio. On volatility, OCTW has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTW or ARLU?

Over the 1-year period, ARLU has performed better with a 20.65% return vs 12.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTW or ARLU?

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

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

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

What is the main difference between OCTW and ARLU?

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

Which has better risk-adjusted returns?

OCTW currently has the higher Sharpe Ratio (2.64 vs 1.87), 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.