Investment objective & strategy
As of March 25, 2026 · prospectusObjective. The Fund seeks to match, at the end of the current Outcome Period, the share price returns of the SPDR S&P 500 ETF Trust (the Underlying ETF), up to a specified upside Cap, while providing a Floor with protection to a maximum loss of 5%. The stated Cap and Floor are before Fund fees and expenses. The current Outcome Period is from October 1, 2025 to March 31, 2026 .
Strategy. As described in the Funds prospectus, the Fund is subject to an upside return cap (the Cap ) that represents the absolute maximum percentage return an investor can achieve from an investment in the Fund held for the Outcome Period. The Funds current Outcome Period will end on March 31, 2026, following which the Fund will reset and commence a new Outcome Period beginning April 1, 2026, as shown in the table below. At the beginning of the new Outcome Period, the Cap will reset. The Funds Cap is not determined until after the end of the last market day prior to the new Outcome Period, or March 31, 2026. As of the date of this Supplement, the Cap for … As described in the Funds prospectus, the Fund is subject to an upside return cap (the Cap ) that represents the absolute maximum percentage return an investor can achieve from an investment in the Fund held for the Outcome Period. The Funds current Outcome Period will end on March 31, 2026, following which the Fund will reset and commence a new Outcome Period beginning April 1, 2026, as shown in the table below. At the beginning of the new Outcome Period, the Cap will reset. The Funds Cap is not determined until after the end of the last market day prior to the new Outcome Period, or March 31, 2026. As of the date of this Supplement, the Cap for the Fund for the new Outcome Period is expected to be within the range shown in the table below, before and after taking into account the Funds annualized unitary management fee of 0.74% of the Funds average daily net assets: Fund Name Ticker New Outcome Period Estimated Cap Range AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF FLAO April 1, 2026, to September 30, 2026 4.25% - 7.25% (before management fee) 3.88% - 6.88% (after management fee) The Funds return will be further reduced by brokerage commissions, trading fees, taxes and non-routine or extraordinary expenses not included in the Funds unitary management fee, as described in the prospectus. The expected Cap range provided here is based upon market conditions as of the date of this Supplement. The final Cap could fall outside of this range if there is a material change in market conditions between the date of this Supplement and the date on which the final Cap is established.
Top holdings
As of Jan. 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| SPY 03/31/2026 5.06 C 0.00000000 | 4SPY 260331C0000506 | $10.07M | 100.30% |
| SPY 03/31/2026 632.87 P 0.00000000 | 4SPY 260331P0063287 | $67.20K | 0.67% |
Portfolio moves
Oct 31, 2025 → Jan 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Advisers
| Firm | Role |
|---|---|
| Allianz Investment Management LLC | Adviser |
Footnotes
- Expense ratio as of February 27, 2026, from the fund's prospectus.
- Net assets and holdings count as of January 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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