OCTW vs. MAYW

Last updated Jun 3, 2026

OCTW (AllianzIM U.S. Equity Buffer20 Oct ETF) and MAYW (AllianzIM U.S. Large Cap Buffer20 May ETF) are both exchange-traded funds - OCTW is a Defined Outcome fund tracking the SPDR S&P 500 ETF Trust, while MAYW is a Options Trading fund actively managed by Allianz. OCTW is passively managed, while MAYW is actively managed. Over the past 3 years, OCTW returned 10.92%/yr vs 11.08%/yr for MAYW. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.74% expense ratio.

Performance

OCTW vs. MAYW - 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 May ETF (MAYW). 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 higher than MAYW's 3.89% return.

OCTW

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

MAYW

• 1D: -0.04%
• 1M: 1.63%
• YTD: 3.89%
• 6M: 4.69%
• 1Y: 10.23%
• 3Y*: 11.08%
• 5Y*: —
• 10Y*: —

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

OCTW vs. MAYW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	4.77%	9.68%	8.67%	10.93%
MAYW AllianzIM U.S. Large Cap Buffer20 May ETF	3.89%	10.24%	12.08%	8.18%

Correlation

The correlation between OCTW and MAYW is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 2, 2023	0.77

The correlation between OCTW and MAYW has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.

OCTW vs. MAYW - Sectors Allocation Comparison

Sectors	OCTW	MAYW
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. MAYW — 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

MAYW

MAYW Risk / Return Rank: 95
MAYW Sharpe Ratio Rank: 93
MAYW Sortino Ratio Rank: 95
MAYW Omega Ratio Rank: 95
MAYW Calmar Ratio Rank: 94
MAYW Martin Ratio Rank: 96

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. MAYW - 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 May ETF (MAYW). 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	MAYW	Difference
Sharpe ratio Return per unit of total volatility	2.64	3.47	-0.83
Sortino ratio Return per unit of downside risk	3.92	5.42	-1.51
Omega ratio Gain probability vs. loss probability	1.55	1.77	-0.22
Calmar ratio Return relative to maximum drawdown	3.62	7.37	-3.76
Martin ratio Return relative to average drawdown	18.66	39.18	-20.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTW vs. MAYW - Sharpe Ratio Comparison

The current OCTW Sharpe Ratio is 2.64, which is comparable to the MAYW Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of OCTW and MAYW, 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	MAYW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	3.47	-0.83
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	1.73	-0.24

Drawdowns

OCTW vs. MAYW - Drawdown Comparison

The maximum OCTW drawdown since its inception was -8.38%, which is greater than MAYW's maximum drawdown of -7.93%. Use the drawdown chart below to compare losses from any high point for OCTW and MAYW.

Drawdown Indicators

	OCTW	MAYW	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-7.93%	-0.45%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-1.40%	-2.25%
Max Drawdown (3Y) Largest decline over 3 years	-8.38%	-7.93%	-0.45%
Max Drawdown (5Y) Largest decline over 5 years	-8.38%	—	—
Current Drawdown Current decline from peak	0.00%	-0.04%	+0.04%
Average Drawdown Average peak-to-trough decline	-0.82%	-0.41%	-0.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	0.26%	+0.45%

Volatility

OCTW vs. MAYW - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) is 0.74%, while AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) has a volatility of 1.02%. This indicates that OCTW experiences smaller price fluctuations and is considered to be less risky than MAYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTW	MAYW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	1.02%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	3.81%	2.19%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	4.92%	2.96%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.29%	6.54%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.14%	6.54%	-0.40%

OCTW vs. MAYW - Expense Ratio Comparison

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

Dividends

OCTW vs. MAYW - Dividend Comparison

Neither OCTW nor MAYW has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both OCTW and MAYW in my portfolio?

OCTW and MAYW have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCTW or MAYW?

MAYW has higher volatility (1.02%) compared to OCTW (0.74%). In terms of maximum drawdown, OCTW dropped -8.38% vs MAYW's -7.93%.

Which ETF is better, OCTW or MAYW?

On 3-year performance, MAYW leads with 11.08% vs 10.92% 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 MAYW?

Over the 3-year period, MAYW has performed better with a 11.08% return vs 10.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTW or MAYW?

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

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

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

What is the main difference between OCTW and MAYW?

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

Which has better risk-adjusted returns?

MAYW currently has the higher Sharpe Ratio (3.47 vs 2.64), 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.