Allianz Investment Management LLC

BUFFERED Exchange-Traded Funds

AllianzIM U.S. Large Cap Buffer10 Jan ETF | JANT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Jan ETF | JANW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Feb ETF | FEBT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Feb ETF | FEBW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Mar ETF | MART | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Mar ETF | MARW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Apr ETF | APRT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Apr ETF | APRW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 May ETF | MAYT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 May ETF | MAYW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Jun ETF | JUNT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Jun ETF | JUNW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Jul ETF | JULT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Jul ETF | JULW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Aug ETF | AUGT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Aug ETF | AUGW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Sep ETF | SEPT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Sep ETF | SEPW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Oct ETF | OCTT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Oct ETF | OCTW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Nov ETF | NVBT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Nov ETF | NVBW | NYSE Arca

AllianzIM U.S. Large Cap Buffer10 Dec ETF | DECT | NYSE Arca

AllianzIM U.S. Large Cap Buffer20 Dec ETF | DECW | NYSE Arca

AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF | SIXJ | NYSE Arca

AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF | SIXO | NYSE Arca

Want to know more?

→       www.allianzIMetfs.com

→       1-877-429-3837

ETF-151 (R-10/2023)

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST

Letter from the President (unaudited)

Dear Shareholders,

Thank you for being an investor in AllianzIM Exchange-Traded Funds (“ETFs”). As part of one of the largest asset management and diversified insurance companies in the world, Allianz Investment Management LLC (“AllianzIM”) specializes in the development and execution of innovative risk management strategies. The AllianzIM Buffered ETFs (the “Funds”) are risk mitigation solutions which seek to provide downside risk mitigation through a buffer against the first 10% and 20% of market losses and to offer upside potential by tracking market returns up to a stated cap. The AllianzIM ETF platform offers 26 Buffered ETFs.

For the twelve month period that ended October 31, 2023, equities, as measured by the S&P 500 Price Return Index^{SM 1}, gained 8.31%, while fixed income, as measured by the Bloomberg U.S. Aggregate Bond Index², edged out a small gain of 0.36%. Monetary policy headwinds were overshadowed by fiscal policy tailwinds this year as what was expected to be a gloomy backdrop for equity investors turned into an extended run of economic prosperity. Going into 2023, many economists had penciled in an economic correction as Federal Reserve (the “Fed”) policy took a bite into the American consumer. However, those views were decidedly pushed out further on the calendar as consumer spending proved to withstand a higher rate regime from the Fed. In turn, equity investors enjoyed a nice ride throughout most of 2023 as strong fundamentals, including three quarters of sequential earnings growth, lifted the S&P 500 Index to nearly 4,600.

Notwithstanding, many investors are beginning to ask, “is this as good as it gets?” There is no doubt consumers were on a spending frenzy over the summer months given the culmination of a 4.9% Gross Domestic Product (GDP) print for the third quarter 2023. This was likely the point when many market participants realized the Taylor Rule was not just referring to an economic model for monetary policy, but rather a boost to GDP from Taylor Swift’s concert tour. All jokes aside, the fundamentals were strong for equity investors and the performance of the S&P 500 Index reflected that. Lastly, the lower trajectory monthly inflation data over the summer helped the Fed refrain from being as aggressive on policy tightening and acted as an additional tailwind for investors.

It has been difficult to gauge what stage of the economic cycle we are in as recession projections continue to be pushed out for the time being, but it is becoming harder to argue the path forward is becoming more clear as indicated by sluggish equity returns in recent months. Geopolitical tensions have ratcheted up again, the U.S. is trying to avert a government shutdown, the Fed has not yet declared victory on inflation, and on top of all of that we are heading into an election year. As a result, buckle-up, as 2024 could prove to be a wild ride.

Despite positive equity returns over the fiscal year ended October 31, 2023, lingering concerns on market prospects remain from investors. The Allianz Life Insurance Company of North America (“Allianz Life”) Q3 2023 Quarterly Market Perceptions Study³ indicated that a majority of Americans (53%) fear another big market crash. A similar number have concerns that another recession is right around the corner. Given the economic backdrop and investor sentiment, we believe investment solutions that offer built-in risk mitigation with upside potential can be an important component of a diversified portfolio by seeking to keep investors in the market and to attempt to eliminate challenges in trying to time the market.

For more information regarding the Funds, please contact your investment professional or call 877-4AZ-ETFS. Furthermore, please visit our website at www.allianzIMetfs.com to learn more about the Funds.

Sincerely,

Brian J. Muench, CFA^®

President

AIM ETF Products Trust

Allianz Investment Management LLC is a registered investment adviser and a wholly owned subsidiary of Allianz Life Insurance Company of North America.

AIM ETF PRODUCTS TRUST

Letter from the President (unaudited) (continued)

The views expressed above reflect the views of Allianz Investment Management LLC as of 11/2023. These views may change as the market or conditions change. This report is not intended to be used to provide financial advice and does not address or account for an individual’s circumstances. Past performance does not guarantee future results and no forecast should be considered a guarantee either.

Must be preceded or accompanied by a prospectus.

Investment involves risk, including possible loss of principal. There is no guarantee the funds will achieve their investment objectives and may not be suitable for all investors.

Investors may lose their entire investment, regardless of when they purchase shares, and even if they hold shares for an entire outcome period. Full extent of caps and buffers only apply if held for stated outcome period and are not guaranteed. The cap may increase or decrease and may vary significantly. An investor who purchases Fund shares after the outcome period has begun or sells Fund Shares prior to the end of the outcome period may experience results that are very different from the investment objective sought by the Fund for that outcome period. There is no guarantee that the cap will remain the same after the end of the outcome period.

The Buffered ETFs’ investment strategies are different from more typical investment products, and the Funds may be unsuitable for some investors. It is important that investors understand the investment strategy before making an investment. For more information regarding whether an investment in the Funds is right for you, please see the prospectus including “Investor Considerations.”

Distributed by Foreside Fund Services, LLC. Foreside Fund Services, LLC is not affiliated with Allianz Investment Management LLC or Allianz Life Insurance Company of North America.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 JAN ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 JAN ETF

Fund Performance Overview (unaudited)

As of January 1, 2023, the Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on January 1, 2023. Prior to January 1, 2023, the Funds sought to match the returns of the S&P 500 Price Return Index^SM, up to a specified upside cap, while limiting downside losses of the Fund by the amount of the stated buffer over a twelve-month outcome period. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Jan ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Jan ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 JAN ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Jan ETF (‘‘JANT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (December 31, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Jan ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Jan ETF (NAV) ($10,995)

AllianzIM U.S. Large Cap Buffer10 Jan ETF (Market) ($11,002)

S&P 500 Price Return Index^SM ($11,165)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 JAN ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Jan ETF (‘‘JANW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (December 31, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Jan ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Jan ETF (NAV) ($11,411)

AllianzIM U.S. Large Cap Buffer20 Jan ETF (Market) ($11,418)

S&P 500 Price Return Index^SM ($11,165)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 FEB ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 FEB ETF

Fund Performance Overview (unaudited)

The Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on February 1, 2023. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Feb ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Feb ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal period January 31, 2023 (commencement of Fund operations) through October 31, 2023, the S&P 500 Price Return Index^SM returned 2.87%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 FEB ETF

Fund Performance Overview (unaudited) (continued)

The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Feb ETF (‘‘FEBT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (January 31, 2023*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Feb ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Feb ETF (NAV) ($10,317)

AllianzIM U.S. Large Cap Buffer10 Feb ETF (Market) ($10,329)

S&P 500 Price Return Index^SM ($10,287)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 FEB ETF

Fund Performance Overview (unaudited) (continued)

The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Feb ETF (‘‘FEBW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (January 31, 2023*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Feb ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Feb ETF (NAV) ($10,343)

AllianzIM U.S. Large Cap Buffer20 Feb ETF (Market) ($10,356)

S&P 500 Price Return Index^SM ($10,287)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 MAR ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 MAR ETF

Fund Performance Overview (unaudited)

The Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on March 1, 2023. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Mar ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Mar ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal period February 28, 2023 (commencement of Fund operations) through October 31, 2023, the S&P 500 Price Return Index^SM returned 5.63%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 MAR ETF

Fund Performance Overview (unaudited) (continued)

The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Mar ETF (‘‘MART’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (February 28, 2023*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Mar ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Mar ETF (NAV) ($10,549)

AllianzIM U.S. Large Cap Buffer10 Mar ETF (Market) ($10,559)

S&P 500 Price Return Index^SM ($10,563)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 MAR ETF

Fund Performance Overview (unaudited) (continued)

The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Mar ETF (‘‘MARW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (February 28, 2023*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Mar ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Mar ETF (NAV) ($10,518)

AllianzIM U.S. Large Cap Buffer20 Mar ETF (Market) ($10,526)

S&P 500 Price Return Index^SM ($10,563)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 APR ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 APR ETF

Fund Performance Overview (unaudited)

As of April 1, 2023, the Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on April 1, 2023. Prior to April 1, 2023, the Funds sought to match the returns of the S&P 500 Price Return Index^SM, up to a specified upside cap, while limiting downside losses of the Fund by the amount of the stated buffer over a twelve-month outcome period. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Apr ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Apr ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 APR ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Apr ETF (‘‘APRT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (May 28, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Apr ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Apr ETF (NAV) ($12,686)

AllianzIM U.S. Large Cap Buffer10 Apr ETF (Market) ($12,702)

S&P 500 Price Return Index^SM ($13,842)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 APR ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Apr ETF (‘‘APRW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (May 28, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Apr ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Apr ETF (NAV) ($11,406)

AllianzIM U.S. Large Cap Buffer20 Apr ETF (Market) ($11,406)

S&P 500 Price Return Index^SM ($13,842)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 MAY ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 MAY ETF

Fund Performance Overview (unaudited)

The Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on May 1, 2023. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 May ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 May ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal period April 28, 2023 (commencement of Fund operations) through October 31, 2023, the S&P 500 Price Return Index^SM returned 0.58%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 MAY ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 May ETF (‘‘MAYT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (April 28, 2023*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 May ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 May ETF (NAV) ($10,149)

AllianzIM U.S. Large Cap Buffer10 May ETF (Market) ($10,154)

S&P 500 Price Return Index^SM ($10,058)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 MAY ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 May ETF (‘‘MAYW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (April 28, 2023*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 May ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 May ETF (NAV) ($10,171)

AllianzIM U.S. Large Cap Buffer20 May ETF (Market) ($10,201)

S&P 500 Price Return Index^SM ($10,058)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 JUL ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 JUL ETF

Fund Performance Overview (unaudited)

As of July 1, 2023, the Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on July 1, 2023. Prior to July 1, 2023, the Funds sought to match the returns of the S&P 500 Price Return Index^SM, up to a specified upside cap, while limiting downside losses of the Fund by the amount of the stated buffer over a twelve-month outcome period. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Jul ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Jul ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 JUL ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Jul ETF (‘‘JULT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (June 30, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Jul ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Jul ETF (NAV) ($12,631)

AllianzIM U.S. Large Cap Buffer10 Jul ETF (Market) ($12,666)

S&P 500 Price Return Index^SM ($13,527)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 JUL ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Jul ETF (‘‘JULW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (June 30, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Jul ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Jul ETF (NAV) ($11,894)

AllianzIM U.S. Large Cap Buffer20 Jul ETF (Market) ($11,895)

S&P 500 Price Return Index^SM ($13,527)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 OCT ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 OCT ETF

Fund Performance Overview (unaudited)

The Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on October 1, 2023. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Oct ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Oct ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 OCT ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Oct ETF (‘‘OCTT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (September 30, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Oct ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Oct ETF (NAV) ($12,461)

AllianzIM U.S. Large Cap Buffer10 Oct ETF (Market) ($12,491)

S&P 500 Price Return Index^SM ($12,470)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 OCT ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Oct ETF (‘‘OCTW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (September 30, 2020*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Oct ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Oct ETF (NAV) ($12,307)

AllianzIM U.S. Large Cap Buffer20 Oct ETF (Market) ($12,340)

S&P 500 Price Return Index^SM ($12,470)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 NOV ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 NOV ETF

Fund Performance Overview (unaudited)

The Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on November 1, 2022. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Nov ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Nov ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 NOV ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Nov ETF (‘‘NVBT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (October 31, 2022*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Nov ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Nov ETF (NAV) ($10,746)

AllianzIM U.S. Large Cap Buffer10 Nov ETF (Market) ($10,764)

S&P 500 Price Return Index^SM ($10,831)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 NOV ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Nov ETF (‘‘NVBW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (October 31, 2022*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Nov ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Nov ETF (NAV) ($10,749)

AllianzIM U.S. Large Cap Buffer20 Nov ETF (Market) ($10,757)

S&P 500 Price Return Index^SM ($10,831)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 DEC ETF

ALLIANZIM U.S. LARGE CAP BUFFER20 DEC ETF

Fund Performance Overview (unaudited)

The Funds seek to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses of the Fund by the amount of the stated Buffer over a twelve-month Outcome Period. The Funds’ most recent Outcome Period initiated on December 1, 2022. AllianzIM’s Buffered ETF solutions seek to provide downside risk mitigation through a Buffer against the first 10% and 20% of market losses. The buffer for the AllianzIM U.S. Large Cap Buffer10 Dec ETF is 10% and the AllianzIM U.S. Large Cap Buffer20 Dec ETF is 20%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Funds, the Fund performance stated over the last year does not align with the investment objective of the Funds.

For the fiscal period November 30, 2022 (commencement of Fund operations) through October 31, 2023, the S&P 500 Price Return Index^SM returned 2.79%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% and 20% Buffer enabled the Funds to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER10 DEC ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Dec ETF (‘‘DECT’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (November 30, 2022*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer10 Dec ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer10 Dec ETF (NAV) ($10,257)

AllianzIM U.S. Large Cap Buffer10 Dec ETF (Market) ($10,265)

S&P 500 Price Return Index^SM ($10,279)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP BUFFER20 DEC ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Dec ETF (‘‘DECW’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (November 30, 2022*) to October 31, 2023.

AllianzIM U.S. Large Cap Buffer20 Dec ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap Buffer20 Dec ETF (NAV) ($10,264)

AllianzIM U.S. Large Cap Buffer20 Dec ETF (Market) ($10,280)

S&P 500 Price Return Index^SM ($10,279)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP 6 MONTH BUFFER10 JAN/JUL ETF

Fund Performance Overview (unaudited)

As of January 1, 2023, the Fund seeks to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses to the Fund by the amount of the stated Buffer over a six-month Outcome Period. The Fund’s most recent Outcome Period initiated on July 1, 2023. Prior to January 1, 2023, the Fund sought to match the returns of the S&P 500 Price Return Index^SM up to a specified upside cap, while limiting downside losses of the Fund by the amount of the stated buffer over a six-month outcome period. The Fund’s previous Outcome Period was from January 1, 2023 to June 30, 2023 and the Fund sought to match the returns of the Underlying ETF up to a stated upside Cap, while limiting downside losses to the Underlying ETF by the amount of the stated Buffer. The buffer for the AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF is 10%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Fund, the Fund performance stated over the last year does not align with the investment objective of the Fund.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% Buffer enabled the Fund to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP 6 MONTH BUFFER10 JAN/JUL ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (‘‘SIXJ’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (December 31, 2021*) to October 31, 2023.

AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (NAV) ($9,749)

AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF (Market) ($9,784)

S&P 500 Price Return Index^SM ($8,799)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP 6 MONTH BUFFER10 APR/OCT ETF

Fund Performance Overview (unaudited)

The Fund seeks to match the share price returns of the SPDR^® S&P 500^® ETF Trust (the “Underlying ETF”) up to a stated upside Cap, while limiting downside losses to the Fund by the amount of the stated Buffer over a six-month Outcome Period. The Fund’s most recent Outcome Period initiated on October 1, 2023 and the Fund sought to match the returns of the Underlying ETF up to a stated upside Cap, while limiting downside losses to the Underlying ETF by the amount of the stated Buffer. The buffer for the AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF is 10%. This market commentary will primarily focus on factors influencing the S&P 500 Price Return Index^SM for the period covered by this report. Because this period does not align with the Outcome Period of the Fund, the Fund performance stated over the last year does not align with the investment objective of the Fund.

For the fiscal year ended October 31, 2023, the S&P 500 Price Return Index^SM returned 8.31%. While volatility and inflation have subdued over the past calendar year, rising interest rates, geopolitical uncertainty, and macro risks influenced the market. Positive returns in the S&P 500 Price Return Index^SM, which is a market capitalization-weighted index, throughout the first half of the calendar year have become more concentrated with a select group of securities driving returns of the index. The Federal Reserve (the “Fed”) continued to raise its key rate in 2023 to a range between 5.25% - 5.50% which left investors wondering if these actions will produce the lower inflation environment they expect without pushing the U.S. economy into a recession, with rising rates putting downward pricing pressure on bonds. Even with the strong equity markets early in the calendar year, investor sentiment was cautious as equity markets began to pull back toward the end of the fiscal year with negative index returns in August, September and October.

The risk mitigation attributes of the 10% Buffer enabled the Fund to soften market fluctuations during the reporting period relative to the S&P 500 Price Return Index^SM. Against a backdrop of rapidly rising rates, the potential of a recession, and continuing geopolitical risks, we believe it makes sense for investors to prepare for the possibility of more volatile market events and look for ways to mitigate risks along the uncertain road ahead.

Each AllianzIM Buffered ETF is subject to an upside return Cap that represents the absolute maximum percentage return that the Fund can achieve for its Outcome Period. Therefore, even though the Fund seeks to provide returns based upon the performance of the SPDR^® S&P 500^® ETF Trust, if the return of the SPDR^® S&P 500^® ETF Trust for the Outcome Period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.allianzIMetfs.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

AIM ETF PRODUCTS TRUST

ALLIANZIM U.S. LARGE CAP 6 MONTH BUFFER10 APR/OCT ETF

Fund Performance Overview (unaudited) (continued)

The following graphs depict the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/ Oct ETF (‘‘SIXO’’) at net asset value (‘‘NAV’’) and market price as compared to the S&P 500 Price Return Index^SM(1) from the Fund’s inception date (September 30, 2021*) to October 31, 2023.

AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF Growth of a Hypothetical $10,000 Investment at October 31, 2023

AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (NAV) ($10,797)

AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF (Market) ($10,814)

S&P 500 Price Return Index^SM ($9,736)

Average Annual Return as of October 31, 2023

The performance shown represents past performance. Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when sold may be worth more or less than the original cost. The Fund’s most recent month-end performance can be obtained and is available upon request and without charge on the Fund’s website at www.allianzIMetfs.com, or by calling 877-429-3837 (877-4AZ-ETFS).

NAV returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund.

One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.74%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer10 Jan ETF

Schedule of Investments

October 31, 2023

SCHEDULE OF WRITTEN OPTIONS AS OF OCTOBER 31, 2023

CALL OPTIONS WRITTEN^(b)

The accompanying notes are an integral part of the financial statements.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer20 Jan ETF

Schedule of Investments

October 31, 2023

SCHEDULE OF WRITTEN OPTIONS AS OF OCTOBER 31, 2023

CALL OPTIONS WRITTEN^(b)

PUT OPTIONS WRITTEN^(b)

The accompanying notes are an integral part of the financial statements.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer10 Feb ETF

Schedule of Investments

October 31, 2023

SCHEDULE OF WRITTEN OPTIONS AS OF OCTOBER 31, 2023

CALL OPTIONS WRITTEN^(b)

The accompanying notes are an integral part of the financial statements.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer20 Feb ETF

Schedule of Investments

October 31, 2023

SCHEDULE OF WRITTEN OPTIONS AS OF OCTOBER 31, 2023

CALL OPTIONS WRITTEN^(b)

The accompanying notes are an integral part of the financial statements.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer10 Mar ETF

Schedule of Investments

October 31, 2023

SCHEDULE OF WRITTEN OPTIONS AS OF OCTOBER 31, 2023

CALL OPTIONS WRITTEN^(b)

PUT OPTIONS WRITTEN^(b)

The accompanying notes are an integral part of the financial statements.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer20 Mar ETF

Schedule of Investments

October 31, 2023

SCHEDULE OF WRITTEN OPTIONS AS OF OCTOBER 31, 2023

CALL OPTIONS WRITTEN^(b)

PUT OPTIONS WRITTEN^(b)

The accompanying notes are an integral part of the financial statements.

AIM ETF PRODUCTS TRUST

AllianzIM U.S. Large Cap Buffer10 Apr ETF

Schedule of Investments

October 31, 2023