# AllianzIM U.S. Equity Buffer20 Apr ETF (APRW): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/aprw for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: AllianzIM · Asset class: Equity - Strategy: Actively Managed · Inception: 2020-05-28 APRW uses options to moderate losses on shares of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting in April. In exchange for preventing realization of the first 20% of losses, the fund forgoes some upside return and the dividend component of SPY, as the options are written on the price (not total) return version of the shares. Should the shares of SPY decline greater than 20%, investors participate in the downside performance on a $1 for $1 basis. The upside cap resets annually based on SPY's closing price on the business day prior to the outcome period begins. Even if... ## Key Facts | Metric | Value | |---|---| | Price | $38.01 | | Expense Ratio | 0.74% | | Assets Under Management | $203.4M | | NAV | $37.99 | | Holdings Count | 5 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | Irregular | | 52-Week Range | $32.47 – $38.06 | | Beta | 0.35 | ## Latest Distribution - Amount: $0.6989 /share - Ex-date: 2020-12-15 - Pay date: 2020-12-17 ## Frequently Asked Questions ### What does APRW invest in? APRW uses options to moderate losses on shares of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting in April. In exchange for preventing realization of the first 20% of losses, the fund forgoes some upside return and the dividend component of SPY, as the options are written on the price (not total) return version of the shares. Should the shares of SPY decline greater than 20%, investors participate in the downside performance on a $1 for $1 basis. The upside cap resets annually based on SPY's closing price on the business day prior to the outcome period begins. Even if shares are held for the entire outcome period, the intended results may differ. The issuer publishes the interim levels for the cap and downside buffer daily on its website. The targeted cap and buffer dont include the fund's expense ratio. The actively managed fund uses FLEX options on SPY shares exclusively. Before October 31, 2022, the fund traded under the ticker AZBA. Prior to Dec. 22, 2025, the fund was called AllianzIM U.S. Large Cap Buffer20 Apr ETF. ### What is the expense ratio of APRW? AllianzIM U.S. Equity Buffer20 Apr ETF (APRW) charges an expense ratio of 0.74%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is APRW? AllianzIM U.S. Equity Buffer20 Apr ETF (APRW) manages $203.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is APRW actively managed or an index fund? APRW is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (APRW's is 0.74%) in exchange for the discretion to over- or under-weight positions. ### When was APRW launched? AllianzIM U.S. Equity Buffer20 Apr ETF (APRW) launched in May 2020 and is managed by AllianzIM. ### How has APRW performed? APRW's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does APRW pay a dividend? AllianzIM U.S. Equity Buffer20 Apr ETF (APRW) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does APRW pay dividends? AllianzIM U.S. Equity Buffer20 Apr ETF pays dividends Irregular. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is APRW's dividend yield? APRW's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is APRW's next ex-dividend date? The most recently announced ex-dividend date for APRW was 2020-12-15. The next ex-date typically follows Irregular; once announced it appears at the top of the dividend history table on this page. ### How much will APRW's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.74% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does APRW charge its expense ratio? The expense ratio is deducted in tiny daily slices from APRW's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does APRW cost more than a fund like VOO? APRW is actively managed (current expense ratio 0.74%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether APRW's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to APRW? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as APRW (0.74%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/aprw - Distribution history: https://www.dividenddata.com/funds/aprw/dividend - Holdings & diversification: https://www.dividenddata.com/funds/aprw/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/aprw/expenses - Peer comparison: https://www.dividenddata.com/funds/aprw/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.