OCTW vs. JULW

Last updated Jun 4, 2026

OCTW (AllianzIM U.S. Equity Buffer20 Oct ETF) and JULW (AllianzIM U.S. Large Cap Buffer20 Jul ETF) are both exchange-traded funds - OCTW is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust, while JULW is a Options Trading fund actively managed by Allianz. OCTW is passively managed, while JULW is actively managed. Over the past 5 years, OCTW returned 8.85%/yr vs 8.98%/yr for JULW. Their correlation of 0.84 suggests significant overlap in exposure. Both charge a 0.74% expense ratio.

Performance

OCTW vs. JULW - 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. Large Cap Buffer20 Jul ETF (JULW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCTW achieves a 4.65% return, which is significantly higher than JULW's 3.83% return.

OCTW

• 1D: -0.11%
• 1M: 1.67%
• YTD: 4.65%
• 6M: 5.17%
• 1Y: 12.50%
• 3Y*: 10.88%
• 5Y*: 8.85%
• 10Y*: —

JULW

• 1D: -0.04%
• 1M: 1.02%
• YTD: 3.83%
• 6M: 4.53%
• 1Y: 12.84%
• 3Y*: 11.69%
• 5Y*: 8.98%
• 10Y*: —

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

OCTW vs. JULW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	4.65%	9.68%	8.67%	17.57%	0.54%	6.48%	4.11%
JULW AllianzIM U.S. Large Cap Buffer20 Jul ETF	3.83%	11.57%	12.39%	16.06%	-1.09%	4.60%	4.04%

Correlation

The correlation between OCTW and JULW is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Oct 2, 2020	0.84

The correlation between OCTW and JULW has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.

OCTW vs. JULW - Sectors Allocation Comparison

Sectors	OCTW	JULW
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

OCTW vs. JULW — Risk / Return Rank

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

OCTW

OCTW Risk / Return Rank: 81
OCTW Sharpe Ratio Rank: 79
OCTW Sortino Ratio Rank: 84
OCTW Omega Ratio Rank: 86
OCTW Calmar Ratio Rank: 69
OCTW Martin Ratio Rank: 85

JULW

JULW Risk / Return Rank: 89
JULW Sharpe Ratio Rank: 85
JULW Sortino Ratio Rank: 91
JULW Omega Ratio Rank: 92
JULW Calmar Ratio Rank: 82
JULW Martin Ratio Rank: 93

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. JULW - 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. Large Cap Buffer20 Jul ETF (JULW). 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	JULW	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.77	-0.22
Sortino ratio: Return per unit of downside risk	3.79	4.34	-0.54
Omega ratio: Gain probability vs. loss probability	1.53	1.61	-0.08
Calmar ratio: Return relative to maximum drawdown	3.43	4.35	-0.92
Martin ratio: Return relative to average drawdown	17.68	24.47	-6.79
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. JULW - Sharpe Ratio Comparison

The current OCTW Sharpe Ratio is 2.56, which is comparable to the JULW Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of OCTW and JULW, 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	JULW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	2.77	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.41	1.31	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	1.48	1.39	+0.09

Drawdowns

OCTW vs. JULW - Drawdown Comparison

The maximum OCTW drawdown since its inception was -8.38%, smaller than the maximum JULW drawdown of -9.49%. Use the drawdown chart below to compare losses from any high point for OCTW and JULW.

Drawdown Indicators

	OCTW	JULW	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-9.49%	+1.11%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-2.96%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-8.38%	-9.49%	+1.11%
Max Drawdown (5Y) Largest decline over 5 years	-8.38%	-9.49%	+1.11%
Current Drawdown Current decline from peak	-0.11%	-0.04%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.82%	-0.91%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.53%	+0.18%

Volatility

OCTW vs. JULW - Volatility Comparison

AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) has a higher volatility of 0.73% compared to AllianzIM U.S. Large Cap Buffer20 Jul ETF (JULW) at 0.30%. This indicates that OCTW's price experiences larger fluctuations and is considered to be riskier than JULW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTW	JULW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.30%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	3.23%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	4.92%	4.67%	+0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	6.88%	-0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.14%	6.54%	-0.40%

OCTW vs. JULW - Expense Ratio Comparison

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

Dividends

OCTW vs. JULW - Dividend Comparison

Neither OCTW nor JULW has paid dividends to shareholders.

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

Frequently Asked Questions

Can I hold both OCTW and JULW in my portfolio?

With a correlation of 0.91, OCTW and JULW 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 JULW?

OCTW has higher volatility (0.73%) compared to JULW (0.30%). In terms of maximum drawdown, OCTW dropped -8.38% vs JULW's -9.49%.

Which ETF is better, OCTW or JULW?

On 5-year performance, JULW leads with 8.98% vs 8.85% for OCTW. Both ETFs have the same 0.74% expense ratio. On volatility, JULW has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTW or JULW?

Over the 5-year period, JULW has performed better with a 8.98% return vs 8.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTW or JULW?

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

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

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

What is the main difference between OCTW and JULW?

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

Which has better risk-adjusted returns?

JULW currently has the higher Sharpe Ratio (2.77 vs 2.56), 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.