SPBX vs. AUGT

Last updated Jun 6, 2026

SPBX (AllianzIM 6 Month Buffer10 Allocation ETF) and AUGT (AllianzIM U.S. Large Cap Buffer10 Aug ETF) are both exchange-traded funds - SPBX 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, SPBX returned 14.18% vs 19.09% for AUGT. With a 0.96 correlation, they move nearly in lockstep. SPBX charges 0.79%/yr vs 0.74%/yr for AUGT.

Performance

SPBX vs. AUGT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) 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, SPBX achieves a 5.05% return, which is significantly lower than AUGT's 5.63% return.

SPBX

• 1D: -0.77%
• 1M: 0.55%
• YTD: 5.05%
• 6M: 5.64%
• 1Y: 14.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AUGT

• 1D: -0.73%
• 1M: 0.79%
• YTD: 5.63%
• 6M: 6.09%
• 1Y: 19.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPBX vs. AUGT - Yearly Performance Comparison

	2026 (YTD)	2025
SPBX AllianzIM 6 Month Buffer10 Allocation ETF	5.05%	9.86%
AUGT AllianzIM U.S. Large Cap Buffer10 Aug ETF	5.63%	14.25%

Correlation

The correlation between SPBX and AUGT is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 10, 2025	0.96

The correlation between SPBX and AUGT has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

SPBX vs. AUGT — Risk / Return Rank

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

SPBX

SPBX Risk / Return Rank: 82
SPBX Sharpe Ratio Rank: 83
SPBX Sortino Ratio Rank: 87
SPBX Omega Ratio Rank: 87
SPBX Calmar Ratio Rank: 68
SPBX Martin Ratio Rank: 82

AUGT

AUGT Risk / Return Rank: 84
AUGT Sharpe Ratio Rank: 83
AUGT Sortino Ratio Rank: 85
AUGT Omega Ratio Rank: 87
AUGT Calmar Ratio Rank: 75
AUGT Martin Ratio Rank: 88

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.

SPBX vs. AUGT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) 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.

	SPBX	AUGT	Difference
Sharpe ratio: Return per unit of total volatility	2.54	2.55	-0.02
Sortino ratio: Return per unit of downside risk	3.72	3.65	+0.06
Omega ratio: Gain probability vs. loss probability	1.51	1.51	0.00
Calmar ratio: Return relative to maximum drawdown	3.17	3.57	-0.40
Martin ratio: Return relative to average drawdown	15.47	18.55	-3.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPBX vs. AUGT - Sharpe Ratio Comparison

The current SPBX Sharpe Ratio is 2.54, which is comparable to the AUGT Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of SPBX 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.

Sharpe Ratios by Period

	SPBX	AUGT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.55	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	1.53	-0.38

Drawdowns

SPBX vs. AUGT - Drawdown Comparison

The maximum SPBX drawdown since its inception was -11.11%, smaller than the maximum AUGT drawdown of -13.12%. Use the drawdown chart below to compare losses from any high point for SPBX and AUGT.

Drawdown Indicators

	SPBX	AUGT	Difference
Max Drawdown Largest peak-to-trough decline	-11.11%	-13.12%	+2.01%
Max Drawdown (1Y) Largest decline over 1 year	-4.49%	-5.36%	+0.87%
Current Drawdown Current decline from peak	-0.80%	-0.73%	-0.07%
Average Drawdown Average peak-to-trough decline	-1.15%	-1.22%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.92%	1.03%	-0.11%

Volatility

SPBX vs. AUGT - Volatility Comparison

AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) has a higher volatility of 1.13% compared to AllianzIM U.S. Large Cap Buffer10 Aug ETF (AUGT) at 0.99%. This indicates that SPBX's price experiences larger fluctuations and is considered to be riskier than AUGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPBX	AUGT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	0.99%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	4.60%	5.55%	-0.95%
Volatility (1Y) Calculated over the trailing 1-year period	5.62%	7.52%	-1.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.41%	10.19%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.41%	10.19%	-0.78%

SPBX vs. AUGT - Expense Ratio Comparison

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

Dividends

SPBX vs. AUGT - Dividend Comparison

Neither SPBX nor AUGT has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPBX and AUGT in my portfolio?

With a correlation of 0.95, SPBX 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, SPBX or AUGT?

SPBX has higher volatility (1.13%) compared to AUGT (0.99%). In terms of maximum drawdown, SPBX dropped -11.11% vs AUGT's -13.12%.

Which ETF is better, SPBX or AUGT?

On 1-year performance, AUGT leads with 19.09% vs 14.18% for SPBX. On fees, AUGT is cheaper at 0.74% per year. On volatility, AUGT has been the lower-risk option at 0.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPBX or AUGT?

Over the 1-year period, AUGT has performed better with a 19.09% return vs 14.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPBX or AUGT?

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

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

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

What is the main difference between SPBX and AUGT?

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

Which has better risk-adjusted returns?

AUGT currently has the higher Sharpe Ratio (2.55 vs 2.54), 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.