SPBW vs. AUGT

Last updated Aug 2, 2026

SPBW (AllianzIM Buffer20 Allocation ETF) and AUGT (AllianzIM U.S. Large Cap Buffer10 Aug ETF) are both exchange-traded funds - SPBW is a Defined Outcome fund actively managed by Allianz, while AUGT is a Options Trading fund actively managed by Allianz. Both are actively managed. Over the past year, SPBW returned 10.53% vs 15.48% for AUGT. Their correlation of 0.95 means they have usually moved in the same direction. SPBW charges 0.79%/yr vs 0.74%/yr for AUGT.

Performance

SPBW vs. AUGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM Buffer20 Allocation ETF (SPBW) 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, SPBW achieves a 5.34% return, which is significantly lower than AUGT's 7.98% return.

SPBW

• 1D: 0.30%
• 1M: 0.66%
• 6M: 4.67%
• YTD: 5.34%
• 1Y: 10.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.69%

AUGT

• 1D: 0.07%
• 1M: 1.00%
• 6M: 7.01%
• YTD: 7.98%
• 1Y: 15.48%
• 3Y*: 15.48%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.45%

*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	$226.85K	$120.21K	$180.29K
SPBW AllianzIM Buffer20 Allocation ETF	$347.20K	$445.63K	$406.98K

SPBW vs. AUGT - Yearly Performance Comparison

	2026 (YTD)	2025
SPBW AllianzIM Buffer20 Allocation ETF	5.34%	9.64%
AUGT AllianzIM U.S. Large Cap Buffer10 Aug ETF	7.98%	14.29%

Correlation

The correlation between SPBW and AUGT is 0.93, 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.	0.93
Correlation (All Time) Calculated using the full available price history since Jan 8, 2025	0.95

The correlation between SPBW and AUGT has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

SPBW vs. AUGT — Risk / Return Rank

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

SPBW

SPBW Risk / Return Rank: 92
SPBW Sharpe Ratio Rank: 92
SPBW Sortino Ratio Rank: 93
SPBW Omega Ratio Rank: 93
SPBW Calmar Ratio Rank: 87
SPBW Martin Ratio Rank: 94

AUGT

AUGT Risk / Return Rank: 84
AUGT Sharpe Ratio Rank: 84
AUGT Sortino Ratio Rank: 85
AUGT Omega Ratio Rank: 87
AUGT Calmar Ratio Rank: 75
AUGT Martin Ratio Rank: 89

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.

SPBW vs. AUGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM Buffer20 Allocation ETF (SPBW) 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.

	SPBW	AUGT	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.97	+0.40
Sortino ratio: Return per unit of downside risk	3.56	2.82	+0.74
Omega ratio: Gain probability vs. loss probability	1.48	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	3.49	2.66	+0.83
Martin ratio: Return relative to average drawdown	18.21	13.81	+4.40

SPBW vs. AUGT - Sharpe Ratio Comparison

The current SPBW Sharpe Ratio is 2.38, which is comparable to the AUGT Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of SPBW 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

SPBW vs. AUGT - Drawdown Comparison

The maximum SPBW drawdown since its inception was -8.76%, smaller than the maximum AUGT drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for SPBW and AUGT.

Drawdown Indicators

	SPBW	AUGT	Difference
Max Drawdown Largest peak-to-trough decline	-8.76%	-13.12%	+4.36%
Max Drawdown (1Y) Largest decline over 1 year	-2.86%	-5.36%	+2.50%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.12%	—
Current Drawdown Current decline from peak	-0.05%	0.00%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.73%	-1.18%	+0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	1.03%	-0.48%

Volatility

SPBW vs. AUGT - Volatility Comparison

AllianzIM Buffer20 Allocation ETF (SPBW) and AllianzIM U.S. Large Cap Buffer10 Aug ETF (AUGT) have volatilities of 0.99% and 0.95%, 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

	SPBW	AUGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	0.95%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.32%	5.41%	-2.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.20%	7.22%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	9.97%	-2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.33%	9.97%	-2.64%

SPBW vs. AUGT - Expense Ratio Comparison

SPBW has a 0.79% expense ratio, which is higher than AUGT's 0.74% expense ratio.

Dividends

SPBW vs. AUGT - Dividend Comparison

Neither SPBW nor AUGT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPBW and AUGT in my portfolio?

With a correlation of 0.93, SPBW and AUGT 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, SPBW or AUGT?

SPBW has higher volatility (0.99%) compared to AUGT (0.95%). In terms of maximum drawdown, SPBW dropped -8.76% vs AUGT's -13.12%.

Which ETF is better, SPBW or AUGT?

On 1-year performance, AUGT leads with 15.48% vs 10.53% for SPBW. On fees, AUGT is cheaper at 0.74% per year. 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, SPBW or AUGT?

Over the 1-year period, AUGT has performed better with a 15.48% return vs 10.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPBW or AUGT?

AUGT is cheaper with a 0.74% expense ratio, compared with 0.79% for SPBW.

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

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

What is the main difference between SPBW and AUGT?

SPBW is categorized as Defined Outcome, while AUGT is Options Trading. Their fees differ too: 0.79% for SPBW and 0.74% for AUGT.

Which has better risk-adjusted returns?

SPBW currently has the higher Sharpe Ratio (2.38 vs 1.97), 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.