ALLIANZ INVESTMENT MANAGEMENT LLC
AIM ETF Products Trust
ANNUAL REPORT
September 30, 2021
 
 
 
 
 
Buffered Outcome Exchange-Traded Funds
 
 
BUFFER10 SERIES: 10% Buffer on the S&P 500® Price Index with a one year Outcome Period
 
AllianzIM U.S. Large Cap Buffer10 Jan ETF | AZAJ | NYSE Arca
AllianzIM U.S. Large Cap Buffer10 Apr ETF | AZAA | NYSE Arca
AllianzIM U.S. Large Cap Buffer10 Jul ETF | AZAL | NYSE Arca
AllianzIM U.S. Large Cap Buffer10 Oct ETF | AZAO | NYSE Arca
 
 
 
BUFFER20 SERIES: 20% Buffer on the S&P 500® Price Index with a one year Outcome Period
 
AllianzIM U.S. Large Cap Buffer20 Jan ETF | AZBJ | NYSE Arca
AllianzIM U.S. Large Cap Buffer20 Apr ETF | AZBA | NYSE Arca
AllianzIM U.S. Large Cap Buffer20 Jul ETF | AZBL | NYSE Arca
AllianzIM U.S. Large Cap Buffer20 Oct ETF | AZBO | NYSE Arca
 
 
 
6 MONTH BUFFER10 SERIES: 10% Buffer on the S&P 500® Price Index with a six month Outcome Period
 
AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF | SIXO | NYSE Arca
 
 
 
Want to know more?
AllianzIM.com | 1-877-429-3837

 


TABLE OF CONTENTS


TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
Letter from the President (unaudited)
Dear Shareholders,
Thank you for being an investor in the AllianzIM Buffered Outcome 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”) maintains a long track record of developing and executing risk management strategies. The AllianzIM Buffered Outcome ETFs (the “Funds”) are designed to provide risk mitigation solutions by allowing investors to participate in the growth potential of equity markets up to a stated Cap with an explicit downside Buffer. The AllianzIM ETF platform now offers nine Buffered Outcome ETFs including our first 6-month outcome period solution. This Annual Report covers the last twelve months as of September 30, 2021.
Favorable economic conditions have led to a one-way ticket to higher levels as the S&P 500® Price Return Index (“S&P 500 Price Index”) was up 28.09% over the last year, but not without some turbulence along the way. Prolonged monetary support from the Federal Reserve (the “Fed”) has led to a swell of liquidity within financial markets, driving up valuations amongst risk assets. Significant progress towards vaccinating the U.S population allowed the economy to open back up and become less restrictive while much of the pent up household savings was deployed. The strong economic rebound during the first half of the year led to impressive equity gains that did not go unnoticed. However, the swift recovery has brought on some unintended consequences with bottlenecks in global supply chains and elevated consumer demand driving up consumer prices. Imbalances of supply and demand have driven inflation well above expectations this year and the Fed has pulled forward their plans to reduce monetary accommodation as a result. After reaching a peak in early September, the S&P 500 Price Index experienced a bout of volatility as a byproduct of the building uncertainty around the path of the economy going forward and expected changes in policy from the Fed.
As a whole, markets have remained mostly calm throughout the year, but the shifting tide from the Fed and persisting inflation levels has dialed up uncertainty and cast doubts on the path of growth for the U.S. economy in the months ahead. In turn, volatility measured by the Cboe Volatility Index (VIX) has experienced brief spikes when investors dialed back their risk appetite. However, against a market backdrop flush with liquidity, every dip in equity prices was met with strong buying demand throughout the year. As the Fed is expected to begin removing liquidity in the near future by slowing its bond purchase program, there is a chance that future market downturns may not recover as quickly as before. The reflation trade started losing steam in the second half of this year as technical factors overcame fundamentals and kept pressure on long-term rates, but the 10-year Treasury yield is still up over 0.60% since the beginning of the year. What is becoming more apparent to market participants is that the transitory message on inflation from the Fed is beginning to overstay its welcome. The rise in consumer prices hasn’t moderated much and imbalances of supply and demand have kept inflation well above expectations this year. A higher rate regime should be something investors pay close attention to as changes in monetary policy and elevated uncertainty surrounding inflation may have an impact on equity valuations and bonds.
The economy appears to be entrenched in the mid-cycle stage, but investors may have become too comfortable with the levels of monetary stimulus the Fed has injected over the last 18 months. The future could be an unpleasant period for market participants as the removal of Fed support will be underway soon and equity markets will have to learn how to stand on their own again. Overall, we remain positive on the economic recovery, but it is evident that there is no shortage of potential risks that could derail the current trajectory.
We believe investment solutions with built-in risk mitigation can be an important cornerstone of an investor’s portfolio. This sentiment resonates with investors based on findings from the Allianz Life Insurance Company of North America Q3 Quarterly Market Perceptions Study. The study found that people are increasingly likely to say it’s important to have some retirement savings in products that protect from market loss (70% in Q3 compared with 64% in Q2). Further, nearly three quarters (72%) say they would be willing to trade off some upside growth potential to have some protection from market loss. Finally, those with high investable assets (>$200k), are even more likely to agree that it is important to protect retirement savings from loss (83%), and that they are willing to sacrifice gains for this protection (81%). Risk management is in our DNA at AllianzIM. While the future path for equity and bond markets is uncertain, investors can place their confidence with our Buffered Outcome ETFs. For more information regarding the Funds, please contact your investment professional or call 877-4AZ-ETFS for additional information. Furthermore, please visit our website at www.AllianzIM.com to learn more about the Funds.

Sincerely,
Brian Muench
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.
The views expressed above reflect the views of Allianz Investment Management LLC as of 10/2021. 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.
1

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 JAN ETF
ALLIANZIM U.S. LARGE CAP BUFFER20 JAN ETF
Fund Performance Overview (unaudited)
The January series of AllianzIM Buffered Outcome ETFs seek to match the returns of the S&P 500® Price Return Index (“S&P 500 Price Index”) up to a stated upside Cap, while limiting downside losses to the S&P 500 Price Index by the amount of the stated Buffer each as defined in the Fund’s prospectus over a twelve-month outcome period (the “outcome”), which initiated on January 1, 2021. The AllianzIM Buffered Outcome ETFs seek to provide capital appreciation to U.S. large-cap equity markets, subject to the Cap, while limiting downside risk through the Buffer structure. This market commentary will primarily focus on factors influencing the S&P 500 Price Index over the period from the Funds’ inception (December 31, 2020) through September 30, 2021.
During the period from the Funds’ inception (December 31, 2020) through September 30, 2021, the S&P 500 Price Index gained 14.68%.
With the economic recovery underway at the start of 2021, market concerns started to shift to inflationary pressures with global supply chain disruptions and an ongoing supply-demand imbalance creating a headwind for many sectors of the economy. The stock market continued to advance looking past the near-term spike in inflation and shrugging off indications that the Federal Reserve may raise interest rates sooner than expected given the inflationary signals. The economy hit a soft patch at the end of the period as the delta variant of COVID-19 appeared to have slowed the near-term growth outlook and the regulatory crackdown in China led to a global risk-off sentiment.
The AllianzIM Buffered Outcome ETFs performed as expected during this period – providing upside appreciation relative to the Cap, while mitigating risk during drawdowns (defined as peak-to-trough market declines). With elevated equity valuations and the potential for rising interest rates on the horizon, the conditions could be ripe for higher volatility going forward. Against this backdrop, the AllianzIM Buffered Outcome ETFs could serve as a valuable option within a total portfolio allocation.
Each AllianzIM Buffered Outcome 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 S&P 500 Price Index, if the return of the S&P 500 Price Index for the outcome period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.AllianzIM.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund.
2

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 JAN ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Jan ETF (“AZAJ”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (December 31, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer10 Jan ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer10 Jan ETF (NAV) ($10,948)
Allianz U.S. Large Cap Buffer10 Jan ETF (Market) ($10,956)
S&P 500 Price Return IndexSM ($11,468)

Average Annual Return as of September 30, 2021
 
Since Inception
(December 31, 2020)*
Allianz U.S. Large Cap Buffer10 Jan ETF (NAV)
9.48%
Allianz U.S. Large Cap Buffer10 Jan ETF (Market Price)
9.56%
S&P 500 Price Return IndexSM
14.68%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, December 31, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZAJ were listed on the NYSE Arca, Inc. on January 4, 2021.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
3

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER20 JAN ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Jan ETF (“AZBJ”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (December 31, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer20 Jan ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer20 Jan ETF (NAV) ($10,490)
Allianz U.S. Large Cap Buffer20 Jan ETF (Market) ($10,506)
S&P 500 Price Return IndexSM ($11,468)

Average Annual Return as of September 30, 2021
 
Since Inception
(December 31, 2020)*
Allianz U.S. Large Cap Buffer20 Jan ETF (NAV)
4.90%
Allianz U.S. Large Cap Buffer20 Jan ETF (Market Price)
5.06%
S&P 500 Price Return IndexSM
14.68%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, December 31, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZBJ were listed on the NYSE Arca, Inc. on January 4, 2021.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
4

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 APR ETF
ALLIANZIM U.S. LARGE CAP BUFFER20 APR ETF
Fund Performance Overview (unaudited)
The April series of AllianzIM Buffered Outcome ETFs seek to match the returns of the S&P 500® Price Return Index (“S&P 500 Price Index”) up to a stated upside Cap, while limiting downside losses to the S&P 500 Price Index by the amount of the stated Buffer each as defined in the Fund’s prospectus over a twelve-month outcome period (the “outcome”), the most recent of which began on April 1, 2021. The AllianzIM Buffered Outcome ETFs seek to provide capital appreciation to U.S. large-cap equity markets, subject to the Cap, while limiting downside risk through the Buffer structure. This market commentary will primarily focus on factors influencing the S&P 500 Price Index over the last year ended September 30, 2021. Because this period does not align with the outcome period of the April series of AllianzIM Buffered Outcome ETFs, the Funds’ performance information provided below for periods ended September 30, 2021 does not align with the outcome the Funds seek to achieve over the applicable outcome period.
During the twelve-month period ended September 30, 2021, the S&P 500 Price Index gained 28.09%. Stocks rallied at the end of 2020 on optimism following the announcement of an effective COVID-19 vaccine. While equity markets briefly experienced a bout of volatility heading into the November U.S. elections, the economic rebound proved resilient and stocks climbed higher after being supported by the unprecedented U.S. fiscal stimulus and aggressive actions by the Federal Reserve throughout the last year.
With the economic recovery underway at the start of 2021, market concerns started to shift to inflationary pressures with global supply chain disruptions and an ongoing supply-demand imbalance creating a headwind for many sectors of the economy. The stock market continued to advance looking past the near-term spike in inflation and shrugging off indications that the Federal Reserve may raise interest rates sooner than expected given the inflationary signals. The economy hit a soft patch at the end of the period as the delta variant of COVID-19 appeared to have slowed the near-term growth outlook and the regulatory crackdown in China led to a global risk-off sentiment.
The AllianzIM Buffered Outcome ETFs performed as expected during this period – providing upside appreciation relative to the Cap, while mitigating risk during drawdowns (defined as peak-to-trough market declines). With elevated equity valuations and the potential for rising interest rates on the horizon, the conditions could be ripe for higher volatility going forward. Against this backdrop, the AllianzIM Buffered Outcome ETFs could serve as a valuable option within a total portfolio allocation.
Each AllianzIM Buffered Outcome 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 S&P 500 Price Index, if the return of the S&P 500 Price Index for the outcome period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.AllianzIM.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund.
5

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 APR ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Apr ETF (“AZAA”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (May 28, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer10 Apr ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer10 Apr ETF (NAV) ($11,749)
Allianz U.S. Large Cap Buffer10 Apr ETF (Market) ($11,744)
S&P 500 Price Return IndexSM ($14,218)

Average Annual Return as of September 30, 2021
 
One Year
Since Inception
(May 28, 2020)*
Allianz U.S. Large Cap Buffer10 Apr ETF (NAV)
12.13%
12.76%
Allianz U.S. Large Cap Buffer10 Apr ETF (Market Price)
11.77%
12.80%
S&P 500 Price Return IndexSM
28.09%
29.97%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, May 28, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZAA were listed on the NYSE Arca, Inc. on June 1, 2020.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
6

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER20 APR ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Apr ETF (“AZBA”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (May 28, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer20 Apr ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer20 Apr ETF (NAV) ($10,885)
Allianz U.S. Large Cap Buffer20 Apr ETF (Market) ($10,901)
S&P 500 Price Return IndexSM ($14,218)

Average Annual Return as of September 30, 2021
 
One Year
Since Inception
(May 28, 2020)*
Allianz U.S. Large Cap Buffer20 Apr ETF (NAV)
5.90%
6.52%
Allianz U.S. Large Cap Buffer20 Apr ETF (Market Price)
5.81%
6.68%
S&P 500 Price Return IndexSM
28.09%
29.97%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, May 28, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZBA were listed on the NYSE Arca, Inc. on June 1, 2020.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
7

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 JUL ETF
ALLIANZIM U.S. LARGE CAP BUFFER20 JUL ETF
Fund Performance Overview (unaudited)
The July series of AllianzIM Buffered Outcome ETFs seek to match the returns of the S&P 500® Price Return Index (“S&P 500 Price Index”) up to a stated upside Cap, while limiting downside losses to the S&P 500 Price Index by the amount of the stated Buffer each as defined in the Fund’s prospectus over a twelve-month outcome period (the “outcome”), the most recent of which began on July 1, 2021. The AllianzIM Buffered Outcome ETFs seek to provide capital appreciation to U.S. large-cap equity markets, subject to the Cap, while limiting downside risk through the Buffer structure. This market commentary will primarily focus on factors influencing the S&P 500 Price Index over the last year ended September 30, 2021. Because this period does not align with the outcome period of the July series of AllianzIM Buffered Outcome ETFs, the Funds’ performance information provided below for periods ended September 30, 2021 does not align with the outcome the Funds seek to achieve over the applicable outcome period.
During the twelve-month period ended September 30, 2021, the S&P 500 Price Index gained 28.09%. Stocks rallied at the end of 2020 on optimism following the announcement of an effective COVID-19 vaccine. While equity markets briefly experienced a bout of volatility heading into the November U.S. elections, the economic rebound proved resilient and stocks climbed higher after being supported by the unprecedented U.S. fiscal stimulus and aggressive actions by the Federal Reserve throughout the last year.
With the economic recovery underway at the start of 2021, market concerns started to shift to inflationary pressures with global supply chain disruptions and an ongoing supply-demand imbalance creating a headwind for many sectors of the economy. The stock market continued to advance looking past the near-term spike in inflation and shrugging off indications that the Federal Reserve may raise interest rates sooner than expected given the inflationary signals. The economy hit a soft patch at the end of the period as the delta variant of COVID-19 appeared to have slowed the near-term growth outlook and the regulatory crackdown in China led to a global risk-off sentiment.
The AllianzIM Buffered Outcome ETFs performed as expected during this period – providing upside appreciation relative to the Cap, while mitigating risk during drawdowns (defined as peak-to-trough market declines). With elevated equity valuations and the potential for rising interest rates on the horizon, the conditions could be ripe for higher volatility going forward. Against this backdrop, the AllianzIM Buffered Outcome ETFs could serve as a valuable option within a total portfolio allocation.
Each AllianzIM Buffered Outcome 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 S&P 500 Price Index, if the return of the S&P 500 Price Index for the outcome period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.AllianzIM.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund.
8

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 JUL ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Jul ETF (“AZAL”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (June 30, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer10 Jul ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer10 Jul ETF (NAV) ($11,581)
Allianz U.S. Large Cap Buffer10 Jul ETF (Market) ($11,574)
S&P 500 Price Return IndexSM ($13,894)

Average Annual Return as of September 30, 2021
 
One Year
Since Inception
(June 30, 2020)*
Allianz U.S. Large Cap Buffer10 Jul ETF (NAV)
10.64%
12.44%
Allianz U.S. Large Cap Buffer10 Jul ETF (Market Price)
10.14%
12.38%
S&P 500 Price Return IndexSM
28.09%
30.04%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, June 30, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZAL were listed on the NYSE Arca, Inc. on July 1, 2020.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
9

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER20 JUL ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Jul ETF (“AZBL”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (June 30, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer20 Jul ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer20 Jul ETF (NAV) ($10,829)
Allianz U.S. Large Cap Buffer20 Jul ETF (Market) ($10,845)
S&P 500 Price Return IndexSM ($13,894)

Average Annual Return as of September 30, 2021
 
One Year
Since Inception
(June 30, 2020)*
Allianz U.S. Large Cap Buffer20 Jul ETF (NAV)
5.43%
6.57%
Allianz U.S. Large Cap Buffer20 Jul ETF (Market Price)
5.23%
6.69%
S&P 500 Price Return IndexSM
28.09%
30.04%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, June 30, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZBL were listed on the NYSE Arca, Inc. on July 1, 2020.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
10

TABLE OF CONTENTS

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 October series of AllianzIM Buffered Outcome ETFs seek to match the returns of the S&P 500® Price Return Index (“S&P 500 Price Index”) up to a stated upside Cap, while limiting downside losses to the S&P 500 Price Index by the amount of the stated Buffer each as defined in the Fund’s prospectus over a twelve-month outcome period, (the “outcome”), the most recent of which began on October 1, 2021. The AllianzIM Buffered Outcome ETFs seek to provide capital appreciation to U.S. large-cap equity markets, subject to the Cap, while limiting downside risk through the Buffer structure. This market commentary will primarily focus on factors influencing the S&P 500 Price Index over the last year ended September 30, 2021.
During the twelve-month period ended September 30, 2021, the S&P 500 Price Index gained 28.09%. Stocks rallied at the end of 2020 on optimism following the announcement of an effective COVID-19 vaccine. While equity markets briefly experienced a bout of volatility heading into the November U.S. elections, the economic rebound proved resilient and stocks climbed higher after being supported by the unprecedented U.S. fiscal stimulus and aggressive actions by the Federal Reserve throughout the last year.
With the economic recovery underway at the start of 2021, market concerns started to shift to inflationary pressures with global supply chain disruptions and an ongoing supply-demand imbalance creating a headwind for many sectors of the economy. The stock market continued to advance looking past the near-term spike in inflation and shrugging off indications that the Federal Reserve may raise interest rates sooner than expected given the inflationary signals. The economy hit a soft patch at the end of the period as the delta variant of COVID-19 appeared to have slowed the near-term growth outlook and the regulatory crackdown in China led to a global risk-off sentiment.
The AllianzIM Buffered Outcome ETFs performed as expected during this period – providing upside appreciation relative to the Cap, while mitigating risk during drawdowns (defined as peak-to-trough market declines). With elevated equity valuations and the potential for rising interest rates on the horizon, the conditions could be ripe for higher volatility going forward. Against this backdrop, the AllianzIM Buffered Outcome ETFs could serve as a valuable option within a total portfolio allocation.
Each AllianzIM Buffered Outcome 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 S&P 500 Price Index, if the return of the S&P 500 Price Index for the outcome period exceeds the Cap, the Fund will not experience those excess gains. The Funds’ website, www.AllianzIM.com, provides important information relating to each Fund, including potential outcomes of an investment in the Fund.
11

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER10 OCT ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer10 Oct ETF (“AZAO”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (September 30, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer10 Oct ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer10 Oct ETF (NAV) ($11,522)
Allianz U.S. Large Cap Buffer10 Oct ETF (Market) ($11,535)
S&P 500 Price Return IndexSM ($12,809)

Average Annual Return as of September 30, 2021
 
One Year
Since Inception
(September 30, 2020)*
Allianz U.S. Large Cap Buffer10 Oct ETF (NAV)
15.23%
15.23%
Allianz U.S. Large Cap Buffer10 Oct ETF (Market Price)
15.35%
15.35%
S&P 500 Price Return IndexSM
28.09%
28.09%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, September 30, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZAO were listed on the NYSE Arca, Inc. on October 1, 2020.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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.
12

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
ALLIANZIM U.S. LARGE CAP BUFFER20 OCT ETF
Fund Performance Overview (unaudited) (continued)
The following graph depicts the hypothetical $10,000 investment in the AllianzIM U.S. Large Cap Buffer20 Oct ETF (“AZBO”) at net asset value and market price as compared to the S&P 500 Price Return IndexSM(1) from the Fund’s inception date (September 30, 2020*) to September 30, 2021.
AllianzIM U.S. Large Cap Buffer20 Oct ETF Growth of a Hypothetical $10,000 Investment
 
Allianz U.S. Large Cap Buffer20 Oct ETF (NAV) ($10,755)
Allianz U.S. Large Cap Buffer20 Oct ETF (Market) ($10,768)
S&P 500 Price Return IndexSM ($12,809)

Average Annual Return as of September 30, 2021
 
One Year
Since Inception
(September 30, 2020)*
Allianz U.S. Large Cap Buffer20 Oct ETF (NAV)
7.57%
7.57%
Allianz U.S. Large Cap Buffer20 Oct ETF (Market Price)
7.68%
7.68%
S&P 500 Price Return IndexSM
28.09%
28.09%
(1)
The S&P 500 Price Return IndexSM is a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the leading companies that reflect the industries of the U.S. economy and is often considered a proxy for the stock market in general. As of September 30, 2021, the S&P 500 Price IndexSM was comprised of 505 constituent securities, representing 500 companies, with a market capitalization range of between $3.8 billion and $2.3 trillion.
*
The inception date, September 30, 2020, is the date the Fund started accruing expenses and commenced operations. Shares of AZBO were listed on the NYSE Arca, Inc. on October 1, 2020.
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.AllianzIM.com, or by calling 877-429-3837 (877-4AZ-ETFS).
Net asset value (“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 share.
13

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jan ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED - CALLS(b) - 90.5%
Options on Equity Indices - 90.5%
S&P 500 Index
December 2021
$2,441.48
202
$49,317,896
$37,626,313
S&P 500 Mini Index
December 2021
244.18
76
1,855,768
1,415,403
Total Options Purchased - Calls
 
 
 
51,173,664
39,041,716
(Cost $41,953,078)
OPTION PURCHASED - PUTS(b) - 15.4%
Options on Equity Indices - 15.4%
S&P 500 Index
December 2021
3,756.11
101
37,936,711
513,281
S&P 500 Index
December 2021
4,882.97
101
49,317,997
5,865,661
S&P 500 Mini Index
December 2021
375.64
38
1,427,432
19,323
S&P 500 Mini Index
December 2021
488.36
38
1,855,768
220,923
Total Options Purchased - Puts
 
 
 
90,537,908
6,619,188
(Cost $14,493,292)
 
 
 
 
 
Total Investments – 105.9%
 
 
 
141,711,572
45,660,904
(Cost $56,446,370)
 
 
 
 
 
Other assets less liabilities – (5.9)%
 
 
 
 
(2,551,825)
Net Assets – 100.0%
 
 
 
 
$43,109,079
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
The accompanying notes are an integral part of the financial statements.
14

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jan ETF
Schedule of Investments
September 30, 2021 (continued)
SCHEDULE OF WRITTEN OPTIONS AS OF SEPTEMBER 30, 2021
CALL OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
101
$4,261.26
December 2021
$849,198
$43,038,726
$(1,926,229)
S&P 500 Index
101
4,882.97
December 2021
86,968
49,317,997
(22,590)
S&P 500 Mini Index
38
426.13
December 2021
58,715
1,619,294
(72,462)
S&P 500 Mini Index
38
488.36
December 2021
2,771
1,855,768
(846)
 
 
 
 
$997,652
$95,831,785
$(2,022,127)
PUT OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
202
$2,441.48
December 2021
$97,336
$49,317,896
$(88,564)
S&P 500 Index
101
3,380.50
December 2021
249,097
34,143,050
(235,839)
S&P 500 Mini Index
76
244.18
December 2021
3,325
1,855,768
(3,334)
S&P 500 Mini Index
38
338.08
December 2021
9,106
1,284,704
(8,878)
 
 
 
 
$358,864
$86,601,418
$(336,615)
TOTAL OPTIONS WRITTEN
 
 
 
$1,356,516
$182,433,203
$(2,358,742)
(a)
Non-income producing.
(b)
Each contract equals 100 shares.
The accompanying notes are an integral part of the financial statements.
15

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jan ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED - CALLS(b) - 94.5%
Options on Equity Indices - 94.5%
S&P 500 Index
December 2021
$2,441.45
274
$66,895,730
$51,038,486
S&P 500 Mini Index
December 2021
244.14
220
5,371,080
4,098,090
Total Options Purchased - Calls
 
 
 
72,266,810
55,136,576
(Cost $59,234,945)
 
 
 
 
 
OPTION PURCHASED - PUTS(b) - 16.0%
Options on Equity Indices - 16.0%
S&P 500 Index
December 2021
3,756.03
137
51,457,611
696,114
S&P 500 Index
December 2021
4,882.89
137
66,895,593
7,955,319
S&P 500 Mini Index
December 2021
375.57
110
4,131,270
55,853
S&P 500 Mini Index
December 2021
488.29
110
5,371,190
638,759
Total Options Purchased - Puts
 
 
 
127,855,664
9,346,045
(Cost $18,947,703)
 
 
 
 
 
Total Investments – 110.5%
 
 
 
200,122,474
64,482,621
(Cost $78,182,648)
 
 
 
 
 
Other assets less liabilities – (10.5)%
 
 
 
 
(6,132,566)
Net Assets – 100.0%
 
 
 
 
$58,350,055
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
The accompanying notes are an integral part of the financial statements.
16

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jan ETF
Schedule of Investments
September 30, 2021 (continued)
SCHEDULE OF WRITTEN OPTIONS AS OF SEPTEMBER 30, 2021
CALL OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
137
$4,015.61
December 2021
$2,856,454
$55,013,857
$(5,144,568)
S&P 500 Index
137
4,882.89
December 2021
118,029
66,895,593
(30,662)
S&P 500 Mini Index
110
401.56
December 2021
357,293
4,417,160
(413,076)
S&P 500 Mini Index
110
488.29
December 2021
8,656
5,371,190
(2,462)
 
 
 
 
$3,340,432
$131,697,800
$(5,590,768)
PUT OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
274
$2,441.45
December 2021
$132,471
$66,895,730
$(120,125)
S&P 500 Index
137
3,004.86
December 2021
179,611
41,166,582
(154,556)
S&P 500 Mini Index
220
244.14
December 2021
10,187
5,371,080
(9,644)
S&P 500 Mini Index
110
300.49
December 2021
14,248
3,305,390
(12,411)
 
 
 
 
$336,517
$116,738,782
$(296,736)
TOTAL OPTIONS WRITTEN
 
 
 
$3,676,949
$248,436,582
$(5,887,504)
(a)
Non-income producing.
(b)
Each contract equals 100 shares.
The accompanying notes are an integral part of the financial statements.
17

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Apr ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED – CALLS(b) - 82.0%
Options on Equity Indices - 82.0%
S&P 500 Index
March 2022
$2,582.66
72
$18,595,152
$12,413,947
S&P 500 Mini Index
March 2022
258.27
14
361,578
241,377
Total Options Purchased - Calls
 
 
 
18,956,730
12,655,324
(Cost $13,681,559)
 
 
 
 
 
OPTION PURCHASED - PUTS(b) - 24.4%
 
 
 
 
 
Options on Equity Indices - 24.4%
 
 
 
 
 
S&P 500 Index
March 2022
3,973.33
36
14,303,988
545,143
S&P 500 Index
March 2022
5,165.33
36
18,595,188
3,141,768
S&P 500 Mini Index
March 2022
397.33
7
278,131
10,600
S&P 500 Mini Index
March 2022
516.53
7
361,571
61,088
Total Options Purchased - Puts
 
 
 
33,538,878
3,758,599
(Cost $5,632,605)
 
 
 
 
 
Total Investments – 106.4%
 
 
 
52,495,608
16,413,923
(Cost $19,314,164)
 
 
 
 
 
Other assets less liabilities – (6.4)%
 
 
 
 
(983,201)
Net Assets – 100.0%
 
 
 
 
$15,430,722
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
The accompanying notes are an integral part of the financial statements.
18

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Apr ETF
Schedule of Investments
September 30, 2021 (continued)
SCHEDULE OF WRITTEN OPTIONS AS OF SEPTEMBER 30, 2021
CALL OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
36
$4,489.86
March 2022
$224,843
$16,163,496
$(464,557)
S&P 500 Index
36
5,165.33
March 2022
29,615
18,595,188
(15,119)
S&P 500 Mini Index
7
448.99
March 2022
11,077
314,293
(9,032)
S&P 500 Mini Index
7
516.53
March 2022
669
361,571
(294)
 
 
 
 
$266,204
$35,434,548
$(489,002)
PUT OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
72
$2,582.66
March 2022
$129,755
$18,595,152
$(122,963)
S&P 500 Index
36
3,576.00
March 2022
273,065
12,873,600
(298,726)
S&P 500 Mini Index
14
258.27
March 2022
2,494
361,578
(2,391)
S&P 500 Mini Index
7
357.60
March 2022
5,293
250,320
(5,809)
 
 
 
 
$410,607
$32,080,650
$(429,889)
TOTAL OPTIONS WRITTEN
 
 
 
$676,811
$67,515,198
$(918,891)
(a)
Non-income producing.
(b)
Each contract equals 100 shares.
The accompanying notes are an integral part of the financial statements.
19

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Apr ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED - CALLS(b) - 84.3%
Options on Equity Indices - 84.3%
S&P 500 Index
March 2022
$2,582.70
108
$27,893,160
$18,620,502
S&P 500 Mini Index
March 2022
258.31
58
1,498,198
999,765
Total Options Purchased - Calls
 
 
 
29,391,358
19,620,267
(Cost $21,195,755)
 
 
 
 
 
OPTION PURCHASED - PUTS(b) - 25.0%
Options on Equity Indices - 25.0%
S&P 500 Index
March 2022
3,973.37
54
21,456,198
817,762
S&P 500 Index
March 2022
5,165.41
54
27,893,214
4,713,075
S&P 500 Mini Index
March 2022
397.37
29
1,152,373
43,938
S&P 500 Mini Index
March 2022
516.61
29
1,498,169
253,305
Total Options Purchased - Puts
 
 
 
51,999,954
5,828,080
(Cost $8,236,865)
 
 
 
 
 
Total Investments – 109.3%
 
 
 
81,391,312
25,448,347
(Cost $29,432,620)
 
 
 
 
 
Other assets less liabilities – (9.3)%
 
 
 
 
(2,167,288)
Net Assets – 100.0%
 
 
 
 
$23,281,059
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
The accompanying notes are an integral part of the financial statements.
20

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Apr ETF
Schedule of Investments
September 30, 2021 (continued)
SCHEDULE OF WRITTEN OPTIONS AS OF SEPTEMBER 30, 2021
CALL OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
54
$4,229.61
March 2022
$934,700
$22,839,894
$(1,536,693)
S&P 500 Index
54
5,165.41
March 2022
46,696
27,893,214
(22,671)
S&P 500 Mini Index
29
422.96
March 2022
63,955
1,226,584
(82,528)
S&P 500 Mini Index
29
516.61
March 2022
2,526
1,498,169
(1,214)
 
 
 
 
$1,047,877
$53,457,861
$(1,643,106)
PUT OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
108
$2,582.70
March 2022
$194,632
$27,893,160
$(184,457)
S&P 500 Index
54
3,178.66
March 2022
235,340
17,164,764
(241,160)
S&P 500 Mini Index
58
258.31
March 2022
10,593
1,498,198
(9,912)
S&P 500 Mini Index
29
317.87
March 2022
13,023
921,823
(12,952)
 
 
 
 
$453,588
$47,477,945
$(448,481)
TOTAL OPTIONS WRITTEN
 
 
 
$1,501,465
$100,935,806
$(2,091,587)
(a)
Non-income producing.
(b)
Each contract equals 100 shares.
The accompanying notes are an integral part of the financial statements.
21

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jul ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED - CALLS(b) - 70.9%
Options on Equity Indices - 70.9%
S&P 500 Index
June 2022
$2,793.34
148
$41,341,432
$22,619,147
S&P 500 Mini Index
June 2022
279.33
38
1,061,454
580,776
Total Options Purchased - Calls
 
 
 
42,402,886
23,199,923
(Cost $25,295,112)
 
 
 
 
 
OPTION PURCHASED - PUTS(b) - 37.4%
Options on Equity Indices - 37.4%
S&P 500 Index
June 2022
4,297.45
74
31,801,130
2,308,828
S&P 500 Index
June 2022
5,586.69
74
41,341,506
9,631,655
S&P 500 Mini Index
June 2022
429.75
19
816,525
59,284
S&P 500 Mini Index
June 2022
558.67
19
1,061,473
247,301
Total Options Purchased - Puts
 
 
 
75,020,634
12,247,068
(Cost $12,432,136)
 
 
 
 
 
Total Investments – 108.3%
 
 
 
117,423,520
35,446,991
(Cost $37,727,248)
 
 
 
 
 
Other assets less liabilities – (8.3)%
 
 
 
 
(2,702,281)
Net Assets – 100.0%
 
 
 
 
$32,744,710
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
The accompanying notes are an integral part of the financial statements.
22

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jul ETF
Schedule of Investments
September 30, 2021 (continued)
SCHEDULE OF WRITTEN OPTIONS AS OF SEPTEMBER 30, 2021
CALL OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
74
$4,757.28
June 2022
$519,751
$35,203,872
$(547,023)
S&P 500 Index
74
5,586.69
June 2022
37,122
41,341,506
(21,216)
S&P 500 Mini Index
19
475.73
June 2022
16,743
903,887
(14,044)
S&P 500 Mini Index
19
558.67
June 2022
939
1,061,473
(545)
 
 
 
 
$574,555
$78,510,738
$(582,828)
PUT OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
148
$2,793.34
June 2022
$622,811
$41,341,432
$(641,754)
S&P 500 Index
74
3,867.71
June 2022
1,204,534
28,621,054
(1,369,303)
S&P 500 Mini Index
38
279.33
June 2022
15,574
1,061,454
(16,476)
S&P 500 Mini Index
19
386.77
June 2022
30,648
734,863
(35,157)
 
 
 
 
$1,873,567
$71,758,803
$(2,062,690)
TOTAL OPTIONS WRITTEN
 
 
 
$2,448,122
$150,269,541
$(2,645,518)
(a)
Non-income producing.
(b)
Each contract equals 100 shares.
The accompanying notes are an integral part of the financial statements.
23

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jul ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED - CALLS(b) - 70.9%
Options on Equity Indices - 70.9%
S&P 500 Index
June 2022
$2,793.39
194
$54,191,766
$29,648,534
S&P 500 Mini Index
June 2022
279.38
58
1,620,404
886,182
Total Options Purchased - Calls
 
 
 
55,812,170
30,534,716
(Cost $33,292,578)
 
 
 
 
 
OPTION PURCHASED - PUTS(b) - 37.5%
Options on Equity Indices - 37.5%
S&P 500 Index
June 2022
4,297.49
97
41,685,653
3,026,568
S&P 500 Index
June 2022
5,586.77
97
54,191,669
12,626,040
S&P 500 Mini Index
June 2022
429.79
29
1,246,391
90,526
S&P 500 Mini Index
June 2022
558.75
29
1,620,375
377,688
Total Options Purchased - Puts
 
 
 
98,744,088
16,120,822
(Cost $16,201,052)
 
 
 
 
 
Total Investments – 108.4%
 
 
 
154,556,258
46,655,538
(Cost $49,493,630)
 
 
 
 
 
Other assets less liabilities – (8.4)%
 
 
 
 
(3,634,962)
Net Assets – 100.0%
 
 
 
 
$43,020,576
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
The accompanying notes are an integral part of the financial statements.
24

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jul ETF
Schedule of Investments
September 30, 2021 (continued)
SCHEDULE OF WRITTEN OPTIONS AS OF SEPTEMBER 30, 2021
CALL OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
97
$4,532.09
June 2022
$1,514,708
$43,961,273
$(1,581,797)
S&P 500 Index
97
5,586.77
June 2022
49,230
54,191,669
(27,803)
S&P 500 Mini Index
29
453.21
June 2022
51,655
1,314,309
(47,289)
S&P 500 Mini Index
29
558.75
June 2022
1,420
1,620,375
(829)
 
 
 
 
$1,617,013
$101,087,626
$(1,657,718)
PUT OPTIONS WRITTEN(a)
Description
Contracts(b)
Exercise
Price
Expiration
Date
Premiums
Received
Notional
Amount
U.S. $
Value
S&P 500 Index
194
$2,793.39
June 2022
$817,157
$54,191,766
$(841,283)
S&P 500 Index
97
3,437.96
June 2022
940,915
33,348,212
(1,034,648)
S&P 500 Mini Index
58
279.38
June 2022
23,926
1,620,404
(25,168)
S&P 500 Mini Index
29
343.80
June 2022
28,076
997,020
(30,935)
 
 
 
 
$1,810,074
$90,157,402
$(1,932,034)
TOTAL OPTIONS WRITTEN
 
 
 
$3,427,087
$191,245,028
$(3,589,752)
(a)
Non-income producing.
(b)
Each contract equals 100 shares.
The accompanying notes are an integral part of the financial statements.
25

TABLE OF CONTENTS

AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Oct ETF
Schedule of Investments
September 30, 2021
 
Expiration Date
Exercise Price
Contracts(a)
Notional Amount
U.S. $ Value
OPTION PURCHASED - CALLS(b) - 70.4%
Options on Equity Indices - 70.4%
S&P 500 Index
September 2022
$2,799.90
182
$50,958,180
$27,735,890
S&P 500 Mini Index
September 2022
279.99
10
279,990
152,390
Total Options Purchased - Calls
 
 
 
51,238,170
27,888,280
(Cost $27,889,373)