SEPU ETF — AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF

AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF (SEPU)

Updated October 16, 2026.

SEPU is an ETF. its expense ratio is 0.74%. Total return is 28.2% over the past 2.1 years, 13.7 points behind SPY at 41.9%.

AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF is a structured equity ETF that invests substantially all of its assets in flexible exchange options referencing U.S. equity securities, designed to provide downside protection while maintaining upside participation. The fund does not currently distribute income, with an expense ratio of 0.74%. This ETF appeals to investors seeking equity exposure with built-in downside buffering rather than traditional dividend income.

SEPU performance versus SPY

Price and return data through 2026-10-16.

Total return is 28.2% over the past 2.1 years, 13.7 points behind SPY at 41.9%. Over the past year its total return — price change plus distributions reinvested — is 11.5%. Its deepest 1-year drawdown was 6.2%.

SEPU key facts

Issuer

AllianzIM

Asset type

ETF

Asset class

Equity

Inception date

08/30/2024

Expense ratio

0.74%

Distribution frequency

None

Last close

$31.59 (as of 2026-10-16)

AUM

$166,599,588

Average volume

8074.0

Beta

0.8008

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: AllianzIM; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

SEPU risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 6.2%.

Who may consider SEPU — and who may not

It is a weaker fit for investors who need monthly cash flow (SEPU does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on SEPU

• All tickers starting with S

Tagged: Downside Protection, Options, Target.

Frequently asked questions

More securities from AllianzIM.