SEPW AllianzIM U.S. Equity Buffer20 Sep ETF
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AllianzIM U.S. Equity Buffer20 Sep ETF (SEPW) ETF
No description available.
- Exchange
- BATS
- Inception
- 2023-08-31
- Has Options
- No
- Expense ratio
- 0.74% prospectus, filed Feb 27, 2026
- Assets
- $101M SEC filing, Jul 31, 2026
- Trailing yield
- —
- Average daily volume
- $706K 30 sessions
- Holdings
- 4 top 10 are 105.9%
- Listed
- Aug 31, 2023 Cboe BZX
Moves with. US large-cap stocks (78% of its variance, beta 0.30); High yield over Treasuries (4% of its variance, beta 0.14). These factors explain 83% of its daily moves over the last year.
Stated objective. 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 Buffer against the first 20% of Underlying ETF losses. The Cap and the Buffer will be reduced after taking into account management fees and other Fund fees and expenses. The current Outcome Period is from September 1, 2025 to August 31, 2026 . (from the fund's prospectus)
- Jul 2026
- −$5.0M latest reported month
- Latest 3 months
- −$191M −188.7% of assets
- Latest 12 months
- +$15M +15.1% of assets
View as a table
| Month | Net flow |
|---|---|
| Jul 2026 | −$5.0M |
| Jun 2026 | −$4.2M |
| May 2026 | −$181M |
| Apr 2026 | −$1.6M |
| Mar 2026 | +$2.4M |
| Feb 2026 | +$4.8M |
| Jan 2026 | +$132 |
| Dec 2025 | $0 |
| Nov 2025 | −$20M |
| Oct 2025 | −$8.7M |
| Sep 2025 | +$230M |
| Aug 2025 | −$1.5M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 35 months ago
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| BUFRFT Vest Laddered Buffer ETF | — | 0.95% | $10.9B | +12.7% | compare |
| BALTInnovator Defined Wealth Shield ETF | — | 0.69% | $3.2B | +6.7% | compare |
| BUFDFT Vest Laddered Deep Buffer ETF | — | 0.95% | $2.2B | +10.4% | compare |
| BUFQFT Vest Laddered Nasdaq Buffer ETF | — | 1.00% | $1.7B | +14.8% | compare |
| FJANFT Vest U.S. Equity Buffer ETF - January | — | 0.85% | $1.5B | +13.4% | compare |
The largest other funds in the Buffer category.
- Authorized participants
- 4 active of 6 with agreements; top 3 did 100%
- Created · redeemed
- $309M · $297M over the fiscal year
- Redemptions in kind
- 83% creations 30% in kind
- Creation unit
- 25,000 shares
- Securities lending
- not authorized
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | SPY 08/31/2026 4.84 C | 105.80% | Derivative (equity) | US |
| — | SPY 08/31/2026 645.11 P | 0.09% | Derivative (equity) | US |
| — | SPY 08/31/2026 516.04 P | -0.01% | Derivative (equity) | US |
| — | SPY 08/31/2026 711.30 C | -5.83% | Derivative (equity) | US |
| Category | Weight | Value | Positions |
|---|---|---|---|
| Derivative (equity) | 100.04% | $101.0M | 4 |
| Month | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|
| Jan | -- | 1.33% | 1.39% | 0.58% | 1.10% |
| Feb | -- | 1.68% | -0.01% | -0.26% | 0.47% |
| Mar | -- | 0.95% | -1.46% | -1.56% | -0.69% |
| Apr | -- | -0.70% | -0.25% | 3.60% | 0.88% |
| May | -- | 2.29% | 2.83% | 1.23% | 2.12% |
| Jun | -- | 0.98% | 2.41% | 0.40% | 1.26% |
| Jul | -- | 0.56% | 1.34% | 0.82% | 0.91% |
| Aug | -- | 0.84% | 1.79% | 0.50% | 1.04% |
| Sep | -2.51% | 2.21% | 1.71% | 0.18% | 0.40% |
| Oct | -0.98% | -0.24% | 0.42% | 0.03%* | -0.19% |
| Nov | 4.28% | 2.00% | 0.38% | -- | 2.22% |
| Dec | 2.10% | -0.53% | 0.88% | -- | 0.82% |
| Total | 2.78% | 11.92% | 11.96% | 5.58% | 8.06% |
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
Momentum Oscillators
Volume & Volatility
Data Summary
LLM Stock Analysis Report: SEPW
Executive Summary
Overall assessment: NEUTRAL (6/10)
Key drivers: Bullish momentum indicators, low volatility, and a weak trend regime.
Primary risks: Overbought RSI, potential for a pullback or consolidation.
Investment thesis: SEPW is currently in a neutral zone, with bullish momentum signals suggesting a possible continuation of the uptrend. However, the stock's low volatility and overbought RSI create uncertainty around its next move.
Recent news sentiment impact: No recent news available to influence our analysis.
Technical Analysis
Trend Direction: Medium-term uptrend (1-3 months)
Support/Resistance Levels: Critical levels to monitor:
- Lower Bollinger Band ($32.80)
- SMA 50 ($32.50)
- EMA 26 ($32.94)
Momentum Signals:
- RSI interpretation: Overbought (>70), potential sell signal
- MACD signal: Bullish, suggesting momentum continuation
- Bollinger Bands position: Neutral, with price near the middle band
Volume Analysis: Volume trends and institutional interest signals:
- Volume SMA 20: Growing volume suggests institutional interest
- On-Balance Volume (OBV): Increasing OBV confirms the uptrend
- Volume Rate of Change: 1.21%, indicating moderate volume growth
News & Sentiment Analysis
Recent Headlines Summary: No recent news available to summarize.
Sentiment Assessment: Neutral sentiment due to lack of recent news.
Catalyst Identification: No upcoming events or earnings releases that could impact the stock's price.
Market Narrative: The absence of significant news and the neutral market environment create uncertainty around SEPW's next move.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to the market (beta <0.8).
Volatility Regime: Current volatility is low, with a stock volatility score of 0.05.
Options Market Signals:
- IV rank: N/A (no options data available)
- Put/call ratios: N/A
- Unusual activity: None
Downside Protection: Support levels and risk management considerations:
- Lower Bollinger Band ($32.80) as a potential stop-loss level
- SMA 50 ($32.50) as a longer-term support level
Market Context & Positioning
Sector Performance: SEPW's sector is performing relatively well, with a strong uptrend.
Institutional Activity: Growing volume and increasing OBV suggest institutional interest in the stock.
Correlation Analysis: SEPW's correlation with the market is high (0.93), indicating that it moves similarly to the broader market.
Relative Valuation: SEPW is trading within its normal range, with no clear signs of overvaluation or undervaluation.
Key Levels & Action Items
Critical Price Levels:
- Lower Bollinger Band ($32.80) as a potential support level
- SMA 50 ($32.50) as a longer-term support level
Breakout/Breakdown Levels: No clear levels to monitor at this time.
Time-Sensitive Catalysts: No upcoming events or earnings releases that could impact the stock's price.
Risk Management: Consider setting a stop-loss around the lower Bollinger Band ($32.80) and adjusting position sizing based on risk tolerance.
This comprehensive analysis provides an in-depth look at SEPW, highlighting its technical trends, momentum indicators, and recent news sentiment. While the stock's low volatility and overbought RSI create uncertainty, the bullish MACD signal and growing volume suggest a possible continuation of the uptrend. As always, it is essential to consider multiple perspectives and develop a customized investment strategy based on individual risk tolerance and market conditions.
SEPW Options Activity & IV Rank
Each spread is ranked by a composite score built in three stages. Full documentation →
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Enter a ticker to render the implied volatility surface.
Enter a ticker to render the implied volatility smile.
Risk Metrics
Analysis Details
Data Points: 251
Period: 252 trading days
Low volatility - stock moves less than market
SEPW Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
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| # | Filer | Notional Value | % of Total | Period |
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