AllianzIM U.S. Equity Buffer10 Jan ETF | JANT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Jan ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Jan ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Jan ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 14.36% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from January 1, 2025 to December 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (December 31, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Jan ETF - NAV ($16,097)	S&P 500^® Price Return Index ($18,211)
12/31/2020	$10,000	$10,000
10/31/2021	$11,187	$12,261
10/31/2022	$10,145	$10,309
10/31/2023	$10,995	$11,165
10/31/2024	$14,076	$15,190
10/31/2025	$16,097	$18,211

Footnote	Description
Footnote^*	The inception date is December 31, 2020. Shares of JANT were listed on the NYSE Arca, Inc. on January 4, 2021.

AllianzIM U.S. Equity Buffer10 Jan ETF | JANT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Jan ETF - NAV	14.36%	10.35%
S&P 500^® Price Return Index	19.89%	13.21%

^* The inception date is December 31, 2020. Shares of JANT were listed on the NYSE Arca, Inc. on January 4, 2021.

Past performance does not guarantee future results.The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption or sale of Fund shares. Call 877-429-3837 (877-4AZ-ETFS) for current performance questions or visit www.allianzim.com/etfs/jant/.

Key Fund Statistics

Total Net Assets (000s)	$52,316
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$874

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	104.0%
Time deposits	1.4%
Options written	(3.8)%
Net other assets and liabilities	(1.6)%
Total	100.0%

How has the Fund changed over the last year?

This is a summary of certain changes to the Fund since November 1, 2024. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2026, at www.allianzim.com/regulatory-documents/ or upon request by calling 877-429-3837 (877-4AZ-ETFS).

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Jan ETF to AllianzIM U.S. Equity Buffer10 Jan ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

An image of a QR code that, when scanned, navigates the user to the following URL: http://www.allianzim.com/regulatory-documents/

AllianzIM U.S. Equity Buffer10 Jan ETF

Annual Shareholder Report - October 31, 2025

If you wish to view additional information about the Fund; including but not limited to the Fund’s prospectus, financial information, holdings, and proxy voting information, please visit www.allianzim.com/regulatory-documents/. You can also access this information by scanning the QR code above.

Phone: 877-429-3837 (877-4AZ-ETFS)

JANT 1025

AllianzIM U.S. Equity Buffer10 Feb ETF | FEBT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Feb ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Feb ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Feb ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 13.68% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from February 1, 2025 to January 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Feb ETF - NAV ($15,035)	S&P 500^® Price Return Index ($16,779)
1/31/2023	$10,000	$10,000
10/31/2023	$10,317	$10,287
10/31/2024	$13,226	$13,996
10/31/2025	$15,035	$16,779

Footnote	Description
Footnote^*	The inception date is January 31, 2023. Shares of FEBT were listed on the NYSE Arca, Inc. on February 1, 2023.

AllianzIM U.S. Equity Buffer10 Feb ETF | FEBT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Feb ETF - NAV	13.68%	16.00%
S&P 500^® Price Return Index	19.89%	20.72%

^* The inception date is January 31, 2023. Shares of FEBT were listed on the NYSE Arca, Inc. on February 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$102,086
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$506

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	103.4%
Time deposits	0.3%
Options written	(3.4)%
Net other assets and liabilities	(0.3)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Feb ETF to AllianzIM U.S. Equity Buffer10 Feb ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Feb ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

FEBT 1025

AllianzIM U.S. Equity Buffer10 Mar ETF | MART | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Mar ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Mar ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Mar ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 15.97% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from March 1, 2025 to February 28, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (February 28, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Mar ETF - NAV ($15,223)	S&P 500^® Price Return Index ($17,229)
2/28/2023	$10,000	$10,000
10/31/2023	$10,549	$10,563
10/31/2024	$13,127	$14,371
10/31/2025	$15,223	$17,229

Footnote	Description
Footnote^*	The inception date is February 28, 2023. Shares of MART were listed on the NYSE Arca, Inc. on March 1, 2023.

AllianzIM U.S. Equity Buffer10 Mar ETF | MART

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Mar ETF - NAV	15.97%	17.04%
S&P 500^® Price Return Index	19.89%	22.59%

^* The inception date is February 28, 2023. Shares of MART were listed on the NYSE Arca, Inc. on March 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$26,641
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$202

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.1%
Time deposits	0.4%
Options written	(5.0)%
Net other assets and liabilities	(0.5)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Mar ETF to AllianzIM U.S. Equity Buffer10 Mar ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Mar ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

MART 1025

AllianzIM U.S. Equity Buffer10 Apr ETF | APRT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Apr ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Apr ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Apr ETF	$77	0.74%

What affected Fund performance over the last year?

The Fund returned 9.03% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from April 1, 2025 to March 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (May 28, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Apr ETF - NAV ($17,163)	S&P 500^® Price Return Index ($22,577)
5/28/2020	$10,000	$10,000
10/31/2020	$10,412	$10,793
10/31/2021	$12,102	$15,201
10/31/2022	$11,401	$12,780
10/31/2023	$12,686	$13,842
10/31/2024	$15,742	$18,832
10/31/2025	$17,163	$22,577

Footnote	Description
Footnote^*	The inception date is May 28, 2020. Shares of APRT were listed on the NYSE Arca, Inc. on June 1, 2020.

AllianzIM U.S. Equity Buffer10 Apr ETF | APRT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	5 years	Since Inception*
AllianzIM U.S. Equity Buffer10 Apr ETF - NAV	9.03%	10.51%	10.46%
S&P 500^® Price Return Index	19.89%	15.91%	16.19%

^* The inception date is May 28, 2020. Shares of APRT were listed on the NYSE Arca, Inc. on June 1, 2020.

Key Fund Statistics

Total Net Assets (000s)	$40,984
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$324

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	110.3%
Time deposits	0.4%
Options written	(10.3)%
Net other assets and liabilities	(0.4)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Apr ETF to AllianzIM U.S. Equity Buffer10 Apr ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Apr ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

APRT 1025

AllianzIM U.S. Equity Buffer10 May ETF | MAYT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 May ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 May ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 May ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 12.01% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from May 1, 2025 to April 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (April 28, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 May ETF - NAV ($14,540)	S&P 500^® Price Return Index ($16,405)
4/28/2023	$10,000	$10,000
10/31/2023	$10,149	$10,058
10/31/2024	$12,981	$13,684
10/31/2025	$14,540	$16,405

Footnote	Description
Footnote^*	The inception date is April 28, 2023. Shares of MAYT were listed on the NYSE Arca, Inc. on May 1, 2023.

AllianzIM U.S. Equity Buffer10 May ETF | MAYT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 May ETF - NAV	12.01%	16.08%
S&P 500^® Price Return Index	19.89%	21.81%

^* The inception date is April 28, 2023. Shares of MAYT were listed on the NYSE Arca, Inc. on May 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$19,084
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$123

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	110.5%
Time deposits	0.3%
Options written	(10.5)%
Net other assets and liabilities	(0.3)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 May ETF to AllianzIM U.S. Equity Buffer10 May ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 May ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

MAYT 1025

AllianzIM U.S. Equity Buffer10 Jun ETF | JUNT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Jun ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Jun ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Jun ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 13.55% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from June 1, 2025 to May 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (May 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Jun ETF - NAV ($14,326)	S&P 500^® Price Return Index ($16,365)
5/31/2023	$10,000	$10,000
10/31/2023	$10,101	$10,033
10/31/2024	$12,616	$13,650
10/31/2025	$14,326	$16,365

Footnote	Description
Footnote^*	The inception date is May 31, 2023. Shares of JUNT were listed on the NYSE Arca, Inc. on June 1, 2023.

AllianzIM U.S. Equity Buffer10 Jun ETF | JUNT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Jun ETF - NAV	13.55%	16.02%
S&P 500^® Price Return Index	19.89%	22.58%

^* The inception date is May 31, 2023. Shares of JUNT were listed on the NYSE Arca, Inc. on June 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$21,489
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$140

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	107.7%
Time deposits	0.4%
Options written	(7.8)%
Net other assets and liabilities	(0.3)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Jun ETF to AllianzIM U.S. Equity Buffer10 Jun ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Jun ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JUNT 1025

AllianzIM U.S. Equity Buffer10 Jul ETF | JULT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Jul ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Jul ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Jul ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 15.05% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from July 1, 2025 to June 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (June 30, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Jul ETF - NAV ($18,404)	S&P 500^® Price Return Index ($22,063)
6/30/2020	$10,000	$10,000
10/31/2020	$10,306	$10,547
10/31/2021	$12,000	$14,855
10/31/2022	$11,492	$12,489
10/31/2023	$12,631	$13,527
10/31/2024	$15,997	$18,403
10/31/2025	$18,404	$22,063

Footnote	Description
Footnote^*	The inception date is June 30, 2020. Shares of JULT were listed on the NYSE Arca, Inc. on July 1, 2020.

AllianzIM U.S. Equity Buffer10 Jul ETF | JULT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	5 years	Since Inception*
AllianzIM U.S. Equity Buffer10 Jul ETF - NAV	15.05%	12.30%	12.11%
S&P 500^® Price Return Index	19.89%	15.91%	15.98%

^* The inception date is June 30, 2020. Shares of JULT were listed on the NYSE Arca, Inc. on July 1, 2020.

Key Fund Statistics

Total Net Assets (000s)	$84,142
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$521

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.9%
Time deposits	0.2%
Options written	(5.9)%
Net other assets and liabilities	(0.2)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Jul ETF to AllianzIM U.S. Equity Buffer10 Jul ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Jul ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JULT 1025

AllianzIM U.S. Equity Buffer10 Aug ETF | AUGT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Aug ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Aug ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Aug ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 16.03% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from August 1, 2025 to July 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (July 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Aug ETF - NAV ($14,089)	S&P 500^® Price Return Index ($14,906)
7/31/2023	$10,000	$10,000
10/31/2023	$9,414	$9,139
10/31/2024	$12,143	$12,433
10/31/2025	$14,089	$14,906

Footnote	Description
Footnote^*	The inception date is July 31, 2023. Shares of AUGT were listed on the NYSE Arca, Inc. on August 1, 2023.

AllianzIM U.S. Equity Buffer10 Aug ETF | AUGT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Aug ETF - NAV	16.03%	16.44%
S&P 500^® Price Return Index	19.89%	19.39%

^* The inception date is July 31, 2023. Shares of AUGT were listed on the NYSE Arca, Inc. on August 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$36,984
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$364

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.6%
Time deposits	0.1%
Options written	(5.6)%
Net other assets and liabilities	(0.1)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Aug ETF to AllianzIM U.S. Equity Buffer10 Aug ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Aug ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

AUGT 1025

AllianzIM U.S. Equity Buffer10 Sep ETF | SEPT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Sep ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Sep ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Sep ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 16.40% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from September 1, 2025 to August 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (August 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Sep ETF - NAV ($13,909)	S&P 500^® Price Return Index ($15,175)
8/31/2023	$10,000	$10,000
10/31/2023	$9,511	$9,304
10/31/2024	$11,949	$12,657
10/31/2025	$13,909	$15,175

Footnote	Description
Footnote^*	The inception date is August 31, 2023. Shares of SEPT were listed on the NYSE Arca, Inc. on September 1, 2023.

AllianzIM U.S. Equity Buffer10 Sep ETF | SEPT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Sep ETF - NAV	16.40%	16.44%
S&P 500^® Price Return Index	19.89%	21.22%

^* The inception date is August 31, 2023. Shares of SEPT were listed on the NYSE Arca, Inc. on September 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$100,837
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$284

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.8%
Time deposits	0.0%^{Footnote Reference*}
Options written	(5.7)%
Net other assets and liabilities	(0.1)%
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Sep ETF to AllianzIM U.S. Equity Buffer10 Sep ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Sep ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SEPT 1025

AllianzIM U.S. Equity Buffer10 Oct ETF | OCTT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Oct ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Oct ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Oct ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 15.51% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from October 1, 2025 to September 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (September 30, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Oct ETF - NAV ($17,243)	S&P 500^® Price Return Index ($20,340)
9/30/2020	$10,000	$10,000
10/31/2020	$9,737	$9,723
10/31/2021	$11,974	$13,694
10/31/2022	$11,182	$11,513
10/31/2023	$12,461	$12,470
10/31/2024	$14,928	$16,965
10/31/2025	$17,243	$20,340

Footnote	Description
Footnote^*	The inception date is September 30, 2020. Shares of OCTT were listed on the NYSE Arca, Inc. on October 1, 2020.

AllianzIM U.S. Equity Buffer10 Oct ETF | OCTT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	5 years	Since Inception*
AllianzIM U.S. Equity Buffer10 Oct ETF - NAV	15.51%	12.11%	11.31%
S&P 500^® Price Return Index	19.89%	15.91%	14.98%

^* The inception date is September 30, 2020. Shares of OCTT were listed on the NYSE Arca, Inc. on October 1, 2020.

Key Fund Statistics

Total Net Assets (000s)	$58,195
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$863

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.3%
Time deposits	0.1%
Options written	(5.3)%
Net other assets and liabilities	(0.1)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Oct ETF to AllianzIM U.S. Equity Buffer10 Oct ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Oct ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

OCTT 1025

AllianzIM U.S. Equity Buffer10 Nov ETF | NVBT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Nov ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Nov ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Nov ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 14.61% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s return aligns with the outcome that the Fund seeks to provide over its outcome period, which is from November 1, 2024 to October 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (October 31, 2022^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Nov ETF - NAV ($14,628)	S&P 500^® Price Return Index ($17,666)
10/31/2022	$10,000	$10,000
10/31/2023	$10,738	$10,831
10/31/2024	$12,763	$14,735
10/31/2025	$14,628	$17,666

Footnote	Description
Footnote^*	The inception date is October 31, 2022. Shares of NVBT were listed on the NYSE Arca, Inc. on November 1, 2022.

AllianzIM U.S. Equity Buffer10 Nov ETF | NVBT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Nov ETF - NAV	14.61%	13.52%
S&P 500^® Price Return Index	19.89%	20.89%

^* The inception date is October 31, 2022. Shares of NVBT were listed on the NYSE Arca, Inc. on November 1, 2022.

Key Fund Statistics

Total Net Assets (000s)	$19,199
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$258

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.3%
Time deposits	1.2%
Options written	(5.1)%
Net other assets and liabilities	(1.4)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Nov ETF to AllianzIM U.S. Equity Buffer10 Nov ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Nov ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

NVBT 1025

AllianzIM U.S. Equity Buffer10 Dec ETF | DECT | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer10 Dec ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer10 Dec ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer10 Dec ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 12.62% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from December 1, 2024 to November 30, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (November 30, 2022^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer10 Dec ETF - NAV ($14,498)	S&P 500^® Price Return Index ($16,765)
11/30/2022	$10,000	$10,000
10/31/2023	$10,257	$10,279
10/31/2024	$12,874	$13,984
10/31/2025	$14,498	$16,765

Footnote	Description
Footnote^*	The inception date is November 30, 2022. Shares of DECT were listed on the NYSE Arca, Inc. on December 1, 2022.

AllianzIM U.S. Equity Buffer10 Dec ETF | DECT

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer10 Dec ETF - NAV	12.62%	13.58%
S&P 500^® Price Return Index	19.89%	19.37%

^* The inception date is November 30, 2022. Shares of DECT were listed on the NYSE Arca, Inc. on December 1, 2022.

Key Fund Statistics

Total Net Assets (000s)	$116,330
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$735

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	101.1%
Time deposits	0.6%
Options written	(1.1)%
Net other assets and liabilities	(0.6)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer10 Dec ETF to AllianzIM U.S. Equity Buffer10 Dec ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer10 Dec ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

DECT 1025

AllianzIM U.S. Equity Buffer20 Jan ETF | JANW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Jan ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Jan ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Jan ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 10.13% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from January 1, 2025 to December 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Jan ETF - NAV ($14,574)	S&P 500^® Price Return Index ($18,211)
12/31/2020	$10,000	$10,000
10/31/2021	$10,588	$12,261
10/31/2022	$10,225	$10,309
10/31/2023	$11,411	$11,165
10/31/2024	$13,234	$15,190
10/31/2025	$14,574	$18,211

Footnote	Description
Footnote^*	The inception date is December 31, 2020. Shares of JANW were listed on the NYSE Arca, Inc. on January 4, 2021.

AllianzIM U.S. Equity Buffer20 Jan ETF | JANW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Jan ETF - NAV	10.13%	8.11%
S&P 500^® Price Return Index	19.89%	13.21%

^* The inception date is December 31, 2020. Shares of JANW were listed on the NYSE Arca, Inc. on January 4, 2021.

Key Fund Statistics

Total Net Assets (000s)	$288,755
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$2,890

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	107.0%
Time deposits	0.8%
Options written	(6.9)%
Net other assets and liabilities	(0.9)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Jan ETF to AllianzIM U.S. Equity Buffer20 Jan ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Jan ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JANW 1025

AllianzIM U.S. Equity Buffer20 Feb ETF | FEBW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Feb ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Feb ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Feb ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 9.73% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from February 1, 2025 to January 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Feb ETF - NAV ($13,383)	S&P 500^® Price Return Index ($16,779)
1/31/2023	$10,000	$10,000
10/31/2023	$10,343	$10,287
10/31/2024	$12,196	$13,996
10/31/2025	$13,383	$16,779

Footnote	Description
Footnote^*	The inception date is January 31, 2023. Shares of FEBW were listed on the NYSE Arca, Inc. on February 1, 2023.

AllianzIM U.S. Equity Buffer20 Feb ETF | FEBW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Feb ETF - NAV	9.73%	11.19%
S&P 500^® Price Return Index	19.89%	20.72%

^* The inception date is January 31, 2023. Shares of FEBW were listed on the NYSE Arca, Inc. on February 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$102,725
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$678

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	106.0%
Time deposits	0.4%
Options written	(5.9)%
Net other assets and liabilities	(0.5)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Feb ETF to AllianzIM U.S. Equity Buffer20 Feb ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Feb ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

FEBW 1025

AllianzIM U.S. Equity Buffer20 Mar ETF | MARW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Mar ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Mar ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Mar ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 11.12% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from March 1, 2025 to February 28, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (February 28, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Mar ETF - NAV ($13,534)	S&P 500^® Price Return Index ($17,229)
2/28/2023	$10,000	$10,000
10/31/2023	$10,518	$10,563
10/31/2024	$12,179	$14,371
10/31/2025	$13,534	$17,229

Footnote	Description
Footnote^*	The inception date is February 28, 2023. Shares of MARW were listed on the NYSE Arca, Inc. on March 1, 2023.

AllianzIM U.S. Equity Buffer20 Mar ETF | MARW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Mar ETF - NAV	11.12%	12.00%
S&P 500^® Price Return Index	19.89%	22.59%

^* The inception date is February 28, 2023. Shares of MARW were listed on the NYSE Arca, Inc. on March 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$68,516
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$529

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	107.8%
Time deposits	0.5%
Options written	(7.8)%
Net other assets and liabilities	(0.5)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Mar ETF to AllianzIM U.S. Equity Buffer20 Mar ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Mar ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

MARW 1025

AllianzIM U.S. Equity Buffer20 Apr ETF | APRW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Apr ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Apr ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Apr ETF	$77	0.74%

What affected Fund performance over the last year?

The Fund returned 6.92% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from April 1, 2025 to March 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (May 28, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Apr ETF - NAV ($14,138)	S&P 500^® Price Return Index ($22,577)
5/28/2020	$10,000	$10,000
10/31/2020	$10,235	$10,793
10/31/2021	$11,038	$15,201
10/31/2022	$10,678	$12,780
10/31/2023	$11,406	$13,842
10/31/2024	$13,223	$18,832
10/31/2025	$14,138	$22,577

Footnote	Description
Footnote^*	The inception date is May 28, 2020. Shares of APRW were listed on the NYSE Arca, Inc. on June 1, 2020.

AllianzIM U.S. Equity Buffer20 Apr ETF | APRW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	5 years	Since Inception*
AllianzIM U.S. Equity Buffer20 Apr ETF - NAV	6.92%	6.67%	6.59%
S&P 500^® Price Return Index	19.89%	15.91%	16.19%

^* The inception date is May 28, 2020. Shares of APRW were listed on the NYSE Arca, Inc. on June 1, 2020.

Key Fund Statistics

Total Net Assets (000s)	$169,569
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$1,264

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	114.1%
Time deposits	0.3%
Options written	(14.0)%
Net other assets and liabilities	(0.4)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Apr ETF to AllianzIM U.S. Equity Buffer20 Apr ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Apr ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

APRW 1025

AllianzIM U.S. Equity Buffer20 May ETF | MAYW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 May ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 May ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 May ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 10.24% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from May 1, 2025 to April 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (April 28, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 May ETF - NAV ($13,241)	S&P 500^® Price Return Index ($16,405)
4/28/2023	$10,000	$10,000
10/31/2023	$10,171	$10,058
10/31/2024	$12,011	$13,684
10/31/2025	$13,241	$16,405

Footnote	Description
Footnote^*	The inception date is April 28, 2023. Shares of MAYW were listed on the NYSE Arca, Inc. on May 1, 2023.

AllianzIM U.S. Equity Buffer20 May ETF | MAYW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 May ETF - NAV	10.24%	11.84%
S&P 500^® Price Return Index	19.89%	21.81%

^* The inception date is April 28, 2023. Shares of MAYW were listed on the NYSE Arca, Inc. on May 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$68,689
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$476

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	114.8%
Time deposits	0.3%
Options written	(14.7)%
Net other assets and liabilities	(0.4)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 May ETF to AllianzIM U.S. Equity Buffer20 May ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 May ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

MAYW 1025

AllianzIM U.S. Equity Buffer20 Jun ETF | JUNW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Jun ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Jun ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Jun ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 11.80% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from June 1, 2025 to May 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (May 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Jun ETF - NAV ($13,188)	S&P 500^® Price Return Index ($16,365)
5/31/2023	$10,000	$10,000
10/31/2023	$10,137	$10,033
10/31/2024	$11,796	$13,650
10/31/2025	$13,188	$16,365

Footnote	Description
Footnote^*	The inception date is May 31, 2023. Shares of JUNW were listed on the NYSE Arca, Inc. on June 1, 2023.

AllianzIM U.S. Equity Buffer20 Jun ETF | JUNW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Jun ETF - NAV	11.80%	12.12%
S&P 500^® Price Return Index	19.89%	22.58%

^* The inception date is May 31, 2023. Shares of JUNW were listed on the NYSE Arca, Inc. on June 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$63,467
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$551

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	110.8%
Time deposits	0.2%
Options written	(10.7)%
Net other assets and liabilities	(0.3)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Jun ETF to AllianzIM U.S. Equity Buffer20 Jun ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Jun ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JUNW 1025

AllianzIM U.S. Equity Buffer20 Jul ETF | JULW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Jul ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Jul ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Jul ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 12.30% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from July 1, 2025 to June 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (June 30, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Jul ETF - NAV ($15,810)	S&P 500^® Price Return Index ($22,063)
6/30/2020	$10,000	$10,000
10/31/2020	$10,192	$10,547
10/31/2021	$11,024	$14,855
10/31/2022	$10,921	$12,489
10/31/2023	$11,894	$13,527
10/31/2024	$14,079	$18,403
10/31/2025	$15,810	$22,063

Footnote	Description
Footnote^*	The inception date is June 30, 2020. Shares of JULW were listed on the NYSE Arca, Inc. on July 1, 2020.

AllianzIM U.S. Equity Buffer20 Jul ETF | JULW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	5 years	Since Inception*
AllianzIM U.S. Equity Buffer20 Jul ETF - NAV	12.30%	9.18%	8.96%
S&P 500^® Price Return Index	19.89%	15.91%	15.98%

^* The inception date is June 30, 2020. Shares of JULW were listed on the NYSE Arca, Inc. on July 1, 2020.

Key Fund Statistics

Total Net Assets (000s)	$307,278
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$1,693

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	108.1%
Time deposits	0.2%
Options written	(8.0)%
Net other assets and liabilities	(0.3)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Jul ETF to AllianzIM U.S. Equity Buffer20 Jul ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Jul ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JULW 1025

AllianzIM U.S. Equity Buffer20 Aug ETF | AUGW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Aug ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Aug ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Aug ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 11.82% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from August 1, 2025 to July 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (July 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Aug ETF - NAV ($12,861)	S&P 500^® Price Return Index ($14,906)
7/31/2023	$10,000	$10,000
10/31/2023	$9,618	$9,139
10/31/2024	$11,502	$12,433
10/31/2025	$12,861	$14,906

Footnote	Description
Footnote^*	The inception date is July 31, 2023. Shares of AUGW were listed on the NYSE Arca, Inc. on August 1, 2023.

AllianzIM U.S. Equity Buffer20 Aug ETF | AUGW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Aug ETF - NAV	11.82%	11.82%
S&P 500^® Price Return Index	19.89%	19.39%

^* The inception date is July 31, 2023. Shares of AUGW were listed on the NYSE Arca, Inc. on August 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$151,117
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$1,201

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	107.2%
Time deposits	0.1%
Options written	(7.1)%
Net other assets and liabilities	(0.2)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Aug ETF to AllianzIM U.S. Equity Buffer20 Aug ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Aug ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

AUGW 1025

AllianzIM U.S. Equity Buffer20 Sep ETF | SEPW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Sep ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Sep ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Sep ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 11.18% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from September 1, 2025 to August 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (August 31, 2023^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Sep ETF - NAV ($12,632)	S&P 500^® Price Return Index ($15,175)
8/31/2023	$10,000	$10,000
10/31/2023	$9,685	$9,304
10/31/2024	$11,362	$12,657
10/31/2025	$12,632	$15,175

Footnote	Description
Footnote^*	The inception date is August 31, 2023. Shares of SEPW were listed on the NYSE Arca, Inc. on September 1, 2023.

AllianzIM U.S. Equity Buffer20 Sep ETF | SEPW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Sep ETF - NAV	11.18%	11.38%
S&P 500^® Price Return Index	19.89%	21.22%

^* The inception date is August 31, 2023. Shares of SEPW were listed on the NYSE Arca, Inc. on September 1, 2023.

Key Fund Statistics

Total Net Assets (000s)	$292,106
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$984

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	106.9%
Time deposits	0.1%
Options written	(6.9)%
Net other assets and liabilities	(0.1)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Sep ETF to AllianzIM U.S. Equity Buffer20 Sep ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Sep ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SEPW 1025

AllianzIM U.S. Equity Buffer20 Oct ETF | OCTW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Oct ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Oct ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Oct ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 10.58% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from October 1, 2025 to September 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (September 30, 2020^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Oct ETF - NAV ($15,447)	S&P 500^® Price Return Index ($20,340)
9/30/2020	$10,000	$10,000
10/31/2020	$9,745	$9,723
10/31/2021	$10,966	$13,694
10/31/2022	$10,984	$11,513
10/31/2023	$12,307	$12,470
10/31/2024	$13,969	$16,965
10/31/2025	$15,447	$20,340

Footnote	Description
Footnote^*	The inception date is September 30, 2020. Shares of OCTW were listed on the NYSE Arca, Inc. on October 1, 2020.

AllianzIM U.S. Equity Buffer20 Oct ETF | OCTW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	5 years	Since Inception*
AllianzIM U.S. Equity Buffer20 Oct ETF - NAV	10.58%	9.65%	8.93%
S&P 500^® Price Return Index	19.89%	15.91%	14.98%

^* The inception date is September 30, 2020. Shares of OCTW were listed on the NYSE Arca, Inc. on October 1, 2020.

Key Fund Statistics

Total Net Assets (000s)	$328,250
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$2,618

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.8%
Time deposits	0.1%
Options written	(5.8)%
Net other assets and liabilities	(0.1)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Oct ETF to AllianzIM U.S. Equity Buffer20 Oct ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Oct ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

OCTW 1025

AllianzIM U.S. Equity Buffer20 Nov ETF | NVBW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Nov ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Nov ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Nov ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 10.26% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s return aligns with the outcome that the Fund seeks to provide over its outcome period, which is from November 1, 2024 to October 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (October 31, 2022^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Nov ETF - NAV ($13,406)	S&P 500^® Price Return Index ($17,666)
10/31/2022	$10,000	$10,000
10/31/2023	$10,741	$10,831
10/31/2024	$12,159	$14,735
10/31/2025	$13,406	$17,666

Footnote	Description
Footnote^*	The inception date is October 31, 2022. Shares of NVBW were listed on the NYSE Arca, Inc. on November 1, 2022.

AllianzIM U.S. Equity Buffer20 Nov ETF | NVBW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Nov ETF - NAV	10.26%	10.26%
S&P 500^® Price Return Index	19.89%	20.89%

^* The inception date is October 31, 2022. Shares of NVBW were listed on the NYSE Arca, Inc. on November 1, 2022.

Key Fund Statistics

Total Net Assets (000s)	$57,815
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$502

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.1%
Time deposits	0.8%
Options written	(5.1)%
Net other assets and liabilities	(0.8)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Nov ETF to AllianzIM U.S. Equity Buffer20 Nov ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Nov ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

NVBW 1025

AllianzIM U.S. Equity Buffer20 Dec ETF | DECW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer20 Dec ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap Buffer20 Dec ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer20 Dec ETF	$78	0.74%

What affected Fund performance over the last year?

The Fund returned 9.66% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from December 1, 2024 to November 30, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (November 30, 2022^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer20 Dec ETF - NAV ($13,528)	S&P 500^® Price Return Index ($16,765)
11/30/2022	$10,000	$10,000
10/31/2023	$10,264	$10,279
10/31/2024	$12,335	$13,984
10/31/2025	$13,528	$16,765

Footnote	Description
Footnote^*	The inception date is November 30, 2022. Shares of DECW were listed on the NYSE Arca, Inc. on December 1, 2022.

AllianzIM U.S. Equity Buffer20 Dec ETF | DECW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer20 Dec ETF - NAV	9.66%	10.91%
S&P 500^® Price Return Index	19.89%	19.37%

^* The inception date is November 30, 2022. Shares of DECW were listed on the NYSE Arca, Inc. on December 1, 2022.

Key Fund Statistics

Total Net Assets (000s)	$384,874
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$2,636

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	103.5%
Time deposits	0.6%
Options written	(3.4)%
Net other assets and liabilities	(0.7)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap Buffer20 Dec ETF to AllianzIM U.S. Equity Buffer20 Dec ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity Buffer20 Dec ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

DECW 1025

AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF | JANU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF (the “Fund”) for the period of December 31, 2024^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is December 31, 2024. Shares of JANU were listed on the Cboe BZX Exchange, Inc. on January 2, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF	$65^{Footnote Reference**}	0.74%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.

What affected Fund performance over the last year?

Since its inception date of December 31, 2024, the Fund has returned 12.80% while the S&P 500^® Price Return Index has returned 16.30%. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from January 1, 2025 to December 31, 2025.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (December 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF - NAV ($11,280)	S&P 500^® Price Return Index ($11,630)
12/31/2024	$10,000	$10,000
10/31/2025	$11,280	$11,630

Footnote	Description
Footnote^*	The inception date is December 31, 2024. Shares of JANU were listed on the Cboe BZX Exchange, Inc. on January 2, 2025.

AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF | JANU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF - NAV	12.80%
S&P 500^® Price Return Index	16.30%

^* The inception date is December 31, 2024. Shares of JANU were listed on the Cboe BZX Exchange, Inc. on January 2, 2025.

Key Fund Statistics

Total Net Assets (000s)	$77,551
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$415

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.2%
Time deposits	0.4%
Options written	(0.1)%
Net other assets and liabilities	(0.5)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JANU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF | FEBU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF (the “Fund”) for the period of January 31, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is January 31, 2025. Shares of FEBU were listed on the Cboe BZX Exchange, Inc. on February 3, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	$58^{Footnote Reference**}	0.74%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.

What affected Fund performance over the last year?

Since its inception date of January 31, 2025, the Fund has returned 11.30% while the S&P 500^® Price Return Index has returned 13.24%. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from February 1, 2025 to January 31, 2026.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 31, 2025^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF - NAV ($11,130)	S&P 500^® Price Return Index ($11,324)
1/31/2025	$10,000	$10,000
10/31/2025	$11,130	$11,324

Footnote	Description
Footnote^*	The inception date is January 31, 2025. Shares of FEBU were listed on the Cboe BZX Exchange, Inc. on February 3, 2025.

AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF | FEBU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF - NAV	11.30%
S&P 500^® Price Return Index	13.24%

^* The inception date is January 31, 2025. Shares of FEBU were listed on the Cboe BZX Exchange, Inc. on February 3, 2025.

Key Fund Statistics

Total Net Assets (000s)	$47,301
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$248

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.3%
Time deposits	0.5%
Options written	(0.2)%
Net other assets and liabilities	(0.6)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

FEBU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF | MARU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF (the “Fund”) for the period of February 28, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is February 28, 2025. Shares of MARU were listed on the Cboe BZX Exchange, Inc. on March 3, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF	$53^{Footnote Reference**}	0.74%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.

What affected Fund performance over the last year?

Since its inception date of February 28, 2025, the Fund has returned 11.63% while the S&P 500^® Price Return Index has returned 14.87%. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from March 1, 2025 to February 28, 2026.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (February 28, 2025^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF - NAV ($11,163)	S&P 500^® Price Return Index ($11,487)
2/28/2025	$10,000	$10,000
10/31/2025	$11,163	$11,487

Footnote	Description
Footnote^*	The inception date is February 28, 2025. Shares of MARU were listed on the Cboe BZX Exchange, Inc. on March 3, 2025.

AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF | MARU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF - NAV	11.63%
S&P 500^® Price Return Index	14.87%

^* The inception date is February 28, 2025. Shares of MARU were listed on the Cboe BZX Exchange, Inc. on March 3, 2025.

Key Fund Statistics

Total Net Assets (000s)	$23,721
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$91

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.5%
Time deposits	0.3%
Options written	(0.3)%
Net other assets and liabilities	(0.5)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

MARU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF | ARLU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 13.96% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from April 1, 2025 to March 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (March 28, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF - NAV ($12,170)	S&P 500^® Price Return Index ($13,018)
3/28/2024	$10,000	$10,000
10/31/2024	$10,679	$10,859
10/31/2025	$12,170	$13,018

Footnote	Description
Footnote^*	The inception date is March 28, 2024. Shares of ARLU were listed on the Cboe BZX Exchange, Inc. on April 1, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF | ARLU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF - NAV	13.96%	13.11%
S&P 500^® Price Return Index	19.89%	17.99%

^* The inception date is March 28, 2024. Shares of ARLU were listed on the Cboe BZX Exchange, Inc. on April 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$48,682
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$267

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.5%
Time deposits	0.3%
Options written	(0.4)%
Net other assets and liabilities	(0.4)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

ARLU 1025

AllianzIM U.S. Equity Buffer15 Uncapped May ETF | MAYU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped May ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped May ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 13.88% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from May 1, 2025 to April 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (April 30, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped May ETF - NAV ($12,651)	S&P 500^® Price Return Index ($13,583)
4/30/2024	$10,000	$10,000
10/31/2024	$11,109	$11,330
10/31/2025	$12,651	$13,583

Footnote	Description
Footnote^*	The inception date is April 30, 2024. Shares of MAYU were listed on the Cboe BZX Exchange, Inc. on May 1, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped May ETF | MAYU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped May ETF - NAV	13.88%	16.92%
S&P 500^® Price Return Index	19.89%	22.58%

^* The inception date is April 30, 2024. Shares of MAYU were listed on the Cboe BZX Exchange, Inc. on May 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$24,511
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$144

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.7%
Time deposits	0.1%
Options written	(0.4)%
Net other assets and liabilities	(0.4)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped May ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

MAYU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF | JNEU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 14.59% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from June 1, 2025 to May 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (May 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF - NAV ($12,212)	S&P 500^® Price Return Index ($12,961)
5/31/2024	$10,000	$10,000
10/31/2024	$10,657	$10,811
10/31/2025	$12,212	$12,961

Footnote	Description
Footnote^*	The inception date is May 31, 2024. Shares of JNEU were listed on the Cboe BZX Exchange, Inc. on June 3, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF | JNEU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF - NAV	14.59%	15.12%
S&P 500^® Price Return Index	19.89%	20.05%

^* The inception date is May 31, 2024. Shares of JNEU were listed on the Cboe BZX Exchange, Inc. on June 3, 2024.

Key Fund Statistics

Total Net Assets (000s)	$25,950
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$133

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.8%
Time deposits	0.2%
Options written	(0.7)%
Net other assets and liabilities	(0.3)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JNEU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF | JULU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 14.89% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from July 1, 2025 to June 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (June 28, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF - NAV ($11,924)	S&P 500^® Price Return Index ($12,527)
6/28/2024	$10,000	$10,000
10/31/2024	$10,379	$10,449
10/31/2025	$11,924	$12,527

Footnote	Description
Footnote^*	The inception date is June 28, 2024. Shares of JULU were listed on the Cboe BZX Exchange, Inc. on July 1, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF | JULU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF - NAV	14.89%	14.01%
S&P 500^® Price Return Index	19.89%	18.27%

^* The inception date is June 28, 2024. Shares of JULU were listed on the Cboe BZX Exchange, Inc. on July 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$143,091
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$514

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	101.1%
Time deposits	0.1%
Options written	(1.0)%
Net other assets and liabilities	(0.2)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

JULU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF | AUGU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 15.16% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from August 1, 2025 to July 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (July 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF - NAV ($11,824)	S&P 500^® Price Return Index ($12,387)
7/31/2024	$10,000	$10,000
10/31/2024	$10,267	$10,332
10/31/2025	$11,824	$12,387

Footnote	Description
Footnote^*	The inception date is July 31, 2024. Shares of AUGU were listed on the Cboe BZX Exchange, Inc. on August 1, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF | AUGU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF - NAV	15.16%	14.32%
S&P 500^® Price Return Index	19.89%	18.64%

^* The inception date is July 31, 2024. Shares of AUGU were listed on the Cboe BZX Exchange, Inc. on August 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$30,298
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$205

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	101.3%
Time deposits	0.2%
Options written	(1.3)%
Net other assets and liabilities	(0.2)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

AUGU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF | SEPU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 14.94% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from September 1, 2025 to August 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (August 30, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF - NAV ($11,614)	S&P 500^® Price Return Index ($12,110)
8/30/2024	$10,000	$10,000
10/31/2024	$10,104	$10,101
10/31/2025	$11,614	$12,110

Footnote	Description
Footnote^*	The inception date is August 30, 2024. Shares of SEPU were listed on the Cboe BZX Exchange, Inc. on September 2, 2024.

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

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF - NAV	14.94%	13.64%
S&P 500^® Price Return Index	19.89%	17.78%

^* The inception date is August 30, 2024. Shares of SEPU were listed on the Cboe BZX Exchange, Inc. on September 2, 2024.

Key Fund Statistics

Total Net Assets (000s)	$129,903
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$298

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	101.7%
Time deposits	0.1%
Options written	(1.6)%
Net other assets and liabilities	(0.2)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SEPU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF | OCTU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 14.97% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from October 1, 2025 to September 30, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (September 30, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF - NAV ($11,409)	S&P 500^® Price Return Index ($11,870)
9/30/2024	$10,000	$10,000
10/31/2024	$9,923	$9,901
10/31/2025	$11,409	$11,870

Footnote	Description
Footnote^*	The inception date is September 30, 2024. Shares of OCTU were listed on the Cboe BZX Exchange, Inc. on October 1, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF | OCTU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF - NAV	14.97%	12.92%
S&P 500^® Price Return Index	19.89%	17.12%

^* The inception date is September 30, 2024. Shares of OCTU were listed on the Cboe BZX Exchange, Inc. on October 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$61,323
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$304

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	102.2%
Time deposits	0.0%^{Footnote Reference*}
Options written	(2.1)%
Net other assets and liabilities	(0.1)%
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

OCTU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF | NVBU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF	$80	0.74%

What affected Fund performance over the last year?

The Fund returned 15.80% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s return aligns with the outcome that the Fund seeks to provide over its outcome period, which is from November 1, 2024 to October 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (October 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF - NAV ($11,580)	S&P 500^® Price Return Index ($11,989)
10/31/2024	$10,000	$10,000
10/31/2025	$11,580	$11,989

Footnote	Description
Footnote^*	The inception date is October 31, 2024. Shares of NVBU were listed on the Cboe BZX Exchange, Inc. on November 1, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF | NVBU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF - NAV	15.80%	15.80%
S&P 500^® Price Return Index	19.89%	19.89%

^* The inception date is October 31, 2024. Shares of NVBU were listed on the Cboe BZX Exchange, Inc. on November 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$31,844
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$179

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	102.6%
Time deposits	0.5%
Options written	(2.7)%
Net other assets and liabilities	(0.4)%
Total	100.0%

AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

NVBU 1025

AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF | DECU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF (the “Fund”) for the period of November 29, 2024^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is November 29, 2024. Shares of DECU were listed on the Cboe BZX Exchange, Inc. on December 2, 2024.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF	$71^{Footnote Reference**}	0.74%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.

What affected Fund performance over the last year?

Since its inception date of November 29, 2024, the Fund has returned 9.69% while the S&P 500^® Price Return Index has returned 13.39%. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from December 1, 2024 to November 30, 2025.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (November 29, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF - NAV ($10,969)	S&P 500^® Price Return Index ($11,339)
11/29/2024	$10,000	$10,000
10/31/2025	$10,969	$11,339

Footnote	Description
Footnote^*	The inception date is November 29, 2024. Shares of DECU were listed on the Cboe BZX Exchange, Inc. on December 2, 2024.

AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF | DECU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF - NAV	9.69%
S&P 500^® Price Return Index	13.39%

^* The inception date is November 29, 2024. Shares of DECU were listed on the Cboe BZX Exchange, Inc. on December 2, 2024.

Key Fund Statistics

Total Net Assets (000s)	$279,708
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$742

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	100.1%
Time deposits	0.2%
Options written	0.0%^{Footnote Reference*}
Net other assets and liabilities	(0.3)%
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

DECU 1025

AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF | SIXJ | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS). This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 14.53% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from July 1, 2025 to December 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (December 31, 2021^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF - NAV ($13,459)	S&P 500^® Price Return Index ($14,352)
12/31/2021	$10,000	$10,000
10/31/2022	$9,160	$8,124
10/31/2023	$9,749	$8,799
10/31/2024	$11,751	$11,971
10/31/2025	$13,459	$14,352

Footnote	Description
Footnote^*	The inception date is December 31, 2021. Shares of SIXJ were listed on the NYSE Arca, Inc. on January 3, 2022.

AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF | SIXJ

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF - NAV	14.53%	8.06%
S&P 500^® Price Return Index	19.89%	9.88%

^* The inception date is December 31, 2021. Shares of SIXJ were listed on the NYSE Arca, Inc. on January 3, 2022.

Key Fund Statistics

Total Net Assets (000s)	$144,680
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$1,357

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	104.7%
Time deposits	0.8%
Options written	(5.0)%
Net other assets and liabilities	(0.5)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF to AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

The Fund’s classification changed from non-diversified to diversified, and therefore the Fund is now required to meet certain diversification requirements under the Investment Company Act of 1940.

AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SIXJ 1025

AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF | SIXF | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS). This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 14.04% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from August 1, 2025 to January 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF - NAV ($12,549)	S&P 500^® Price Return Index ($14,116)
1/31/2024	$10,000	$10,000
10/31/2024	$11,004	$11,774
10/31/2025	$12,549	$14,116

Footnote	Description
Footnote^*	The inception date is January 31, 2024. Shares of SIXF were listed on the NYSE Arca, Inc. on February 1, 2024.

AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF | SIXF

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF - NAV	14.04%	13.87%
S&P 500^® Price Return Index	19.89%	21.80%

^* The inception date is January 31, 2024. Shares of SIXF were listed on the NYSE Arca, Inc. on February 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$63,528
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$327

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	104.2%
Time deposits	0.4%
Options written	(4.6)%
Net other assets and liabilities	0.0%^{Footnote Reference*}
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF to AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SIXF 1025

AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF | SIXP | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS). This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 14.47% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from September 1, 2025 to February 28, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (February 29, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF - NAV ($12,437)	S&P 500^® Price Return Index ($13,422)
2/29/2024	$10,000	$10,000
10/31/2024	$10,865	$11,195
10/31/2025	$12,437	$13,422

Footnote	Description
Footnote^*	The inception date is February 29, 2024. Shares of SIXP were listed on the NYSE Arca, Inc. on March 1, 2024.

AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF | SIXP

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF - NAV	14.47%	13.94%
S&P 500^® Price Return Index	19.89%	19.26%

^* The inception date is February 29, 2024. Shares of SIXP were listed on the NYSE Arca, Inc. on March 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$322,584
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$694

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	104.2%
Time deposits	0.5%
Options written	(4.5)%
Net other assets and liabilities	(0.2)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF to AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SIXP 1025

AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF | SIXO | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS). This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF	$77	0.74%

What affected Fund performance over the last year?

The Fund returned 8.32% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from October 1, 2025 to March 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (September 30, 2021^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF - NAV ($13,717)	S&P 500^® Price Return Index ($15,880)
9/30/2021	$10,000	$10,000
10/31/2021	$10,277	$10,691
10/31/2022	$9,691	$8,989
10/31/2023	$10,797	$9,736
10/31/2024	$12,663	$13,245
10/31/2025	$13,717	$15,880

Footnote	Description
Footnote^*	The inception date is September 30, 2021. Shares of SIXO were listed on the NYSE Arca, Inc. on October 1, 2021.

AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF | SIXO

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF - NAV	8.32%	8.04%
S&P 500^® Price Return Index	19.89%	11.99%

^* The inception date is September 30, 2021. Shares of SIXO were listed on the NYSE Arca, Inc. on October 1, 2021.

Key Fund Statistics

Total Net Assets (000s)	$132,023
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$1,557

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	103.5%
Time deposits	0.4%
Options written	(3.9)%
Net other assets and liabilities	0.0%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF to AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SIXO 1025

AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF | SIXZ | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS). This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	$77	0.74%

What affected Fund performance over the last year?

The Fund returned 8.71% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from May 1, 2025 to October 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (April 30, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF - NAV ($11,723)	S&P 500^® Price Return Index ($13,583)
4/30/2024	$10,000	$10,000
10/31/2024	$10,784	$11,330
10/31/2025	$11,723	$13,583

Footnote	Description
Footnote^*	The inception date is April 30, 2024. Shares of SIXZ were listed on the NYSE Arca, Inc. on May 1, 2024.

AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF | SIXZ

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF - NAV	8.71%	11.15%
S&P 500^® Price Return Index	19.89%	22.58%

^* The inception date is April 30, 2024. Shares of SIXZ were listed on the NYSE Arca, Inc. on May 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$16,852
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$141

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	103.2%
Time deposits	0.9%
Options written	(3.6)%
Net other assets and liabilities	(0.5)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF to AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SIXZ 1025

AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF | SIXD | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF (the “Fund”) (formerly known as AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS). This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	$77	0.74%

What affected Fund performance over the last year?

The Fund returned 8.58% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from June 1, 2025 to November 30, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (May 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF - NAV ($11,433)	S&P 500^® Price Return Index ($12,961)
5/31/2024	$10,000	$10,000
10/31/2024	$10,529	$10,811
10/31/2025	$11,433	$12,961

Footnote	Description
Footnote^*	The inception date is May 31, 2024. Shares of SIXD were listed on the NYSE Arca, Inc. on June 1, 2024.

AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF | SIXD

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF - NAV	8.58%	9.90%
S&P 500^® Price Return Index	19.89%	20.05%

^* The inception date is May 31, 2024. Shares of SIXD were listed on the NYSE Arca, Inc. on June 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$32,870
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$629

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	107.7%
Time deposits	1.0%
Options written	(8.0)%
Net other assets and liabilities	(0.7)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's name changed from AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF to AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF.

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SIXD 1025

AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF | FLJJ | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF	$79	0.74%

What affected Fund performance over the last year?

The Fund returned 13.35% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from July 1, 2025 to December 31, 2025.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 31, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF - NAV ($12,602)	S&P 500^® Price Return Index ($14,116)
1/31/2024	$10,000	$10,000
10/31/2024	$11,118	$11,774
10/31/2025	$12,602	$14,116

Footnote	Description
Footnote^*	The inception date is January 31, 2024. Shares of FLJJ were listed on the NYSE Arca, Inc. on February 1, 2024.

AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF | FLJJ

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF - NAV	13.35%	14.15%
S&P 500^® Price Return Index	19.89%	21.80%

^* The inception date is January 31, 2024. Shares of FLJJ were listed on the NYSE Arca, Inc. on February 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$8,664
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$142

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	105.6%
Time deposits	0.5%
Options written	(5.8)%
Net other assets and liabilities	(0.3)%
Total	100.0%

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

FLJJ 1025

AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF | FLAO | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF (the “Fund”) for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment
AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF	$76	0.74%

What affected Fund performance over the last year?

The Fund returned 4.33% while the S&P 500^® Price Return Index returned 19.89% over the last year ending October 31, 2025. The Fund’s returns over the last year will differ from the outcomes that the Fund seeks to provide over its outcome period, which is from October 1, 2025 to March 31, 2026.
U.S. financial markets experienced notable fluctuations and developments over the last year. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied nearly 20% on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (March 28, 2024^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF - NAV ($11,286)	S&P 500^® Price Return Index ($13,018)
3/28/2024	$10,000	$10,000
10/31/2024	$10,817	$10,859
10/31/2025	$11,286	$13,018

Footnote	Description
Footnote^*	The inception date is March 28, 2024. Shares of FLAO were listed on the NYSE Arca, Inc. on April 1, 2024.

AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF | FLAO

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	1 Year	Since Inception*
AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF - NAV	4.33%	7.88%
S&P 500^® Price Return Index	19.89%	17.99%

^* The inception date is March 28, 2024. Shares of FLAO were listed on the NYSE Arca, Inc. on April 1, 2024.

Key Fund Statistics

Total Net Assets (000s)	$11,286
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$112

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	103.0%
Time deposits	0.1%
Options written	(3.1)%
Net other assets and liabilities	0.0%^{Footnote Reference*}
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

FLAO 1025

AllianzIM U.S. Equity Buffer15 ETF | QBSF | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer15 ETF (the “Fund”) for the period of June 30, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is June 30, 2025. Shares of QBSF were listed on the Cboe BZX Exchange, Inc. on July 1, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}
AllianzIM U.S. Equity Buffer15 ETF	$22^{Footnote Reference**}	0.64%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.

Key Fund Statistics

Total Net Assets (000s)	$21,965
# of Portfolio Holdings	4
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$20

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	102.1%
Time deposits	0.6%
Options written	(2.9)%
Net other assets and liabilities	0.2%
Total	100.0%

AllianzIM U.S. Equity Buffer15 ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

QBSF 1025

AllianzIM U.S. Equity Buffer100 Protection ETF | AIOO | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM U.S. Equity Buffer100 Protection ETF (the “Fund”) for the period of June 30, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is June 30, 2025. Shares of AIOO were listed on the Cboe BZX Exchange, Inc. on July 1, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}
AllianzIM U.S. Equity Buffer100 Protection ETF	$22^{Footnote Reference**}	0.64%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.

Key Fund Statistics

Total Net Assets (000s)	$21,830
# of Portfolio Holdings	3
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$40

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Options purchased	102.5%
Time deposits	0.7%
Options written	(3.1)%
Net other assets and liabilities	(0.1)%
Total	100.0%

AllianzIM U.S. Equity Buffer100 Protection ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

AIOO 1025

AllianzIM Buffer20 Allocation ETF | SPBW | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM Buffer20 Allocation ETF (the “Fund”) for the period of January 7, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

Footnote	Description
Footnote^*	The inception date is January 7, 2025. Shares of SPBW were listed on the NYSE Arca, Inc. on January 9, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment^{Footnote Reference1}	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}^{Footnote Reference1}
AllianzIM Buffer20 Allocation ETF	$4^{Footnote Reference**}	0.05%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.
Footnote¹	Reflects applicable fee waivers.

What affected Fund performance over the last year?

Since its inception date of January 7, 2025, the Fund has returned 8.35% while the S&P 500^® Price Return Index has returned 15.76%. The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a laddered portfolio of twelve AllianzIM U.S. Equity Buffer20 ETFs (“Underlying ETFs”). While the Fund itself does not pursue a buffered strategy, each Underlying ETF seeks to pursue a buffered strategy that is based on the performance of the SPDR^® S&P 500^® ETF’s (“SPY”) share price over a one-year Outcome Period. Given the strong positive performance of SPY during the period, the Fund’s diversified exposure to the Outcome Periods of the Underlying ETFs has resulted in the Fund experiencing a positive return as well.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 7, 2025^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM Buffer20 Allocation ETF - NAV ($10,835)	S&P 500^® Price Return Index ($11,576)
1/7/2025	$10,000	$10,000
10/31/2025	$10,835	$11,576

Footnote	Description
Footnote^*	The inception date is January 7, 2025. Shares of SPBW were listed on the NYSE Arca, Inc. on January 9, 2025.

AllianzIM Buffer20 Allocation ETF | SPBW

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM Buffer20 Allocation ETF - NAV	8.35%
S&P 500^® Price Return Index	15.76%

^* The inception date is January 7, 2025. Shares of SPBW were listed on the NYSE Arca, Inc. on January 9, 2025.

Key Fund Statistics

Total Net Assets (000s)	$41,249
# of Portfolio Holdings	12
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$13

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Affiliated Exchange-Traded Funds	100.0%
Time deposits	0.0%^{Footnote Reference*}
Net other assets and liabilities	0.0%^{Footnote Reference*}
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

How has the Fund changed over the last year?

This is a summary of certain changes to the Fund since January 7, 2025. For more complete information, you may review the Fund's next prospectus, which we expect to be available by March 1, 2026, at www.allianzim.com/regulatory-documents/ or upon request by calling 877-429-3837 (877-4AZ-ETFS).

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM Buffer20 Allocation ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SPBW 1025

AllianzIM Buffer15 Uncapped Allocation ETF | SPBU | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM Buffer15 Uncapped Allocation ETF (the “Fund”) for the period of March 5, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

Footnote	Description
Footnote^*	The inception date is March 5, 2025. Shares of SPBU were listed on the Cboe BZX Exchange, Inc. on March 7, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment^{Footnote Reference1}	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}^{Footnote Reference1}
AllianzIM Buffer15 Uncapped Allocation ETF	$4^{Footnote Reference**}	0.05%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.
Footnote¹	Reflects applicable fee waivers.

What affected Fund performance over the last year?

Since its inception date of March 5, 2025, the Fund has returned 12.96% while the S&P 500^® Price Return Index has returned 17.07%. The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a laddered portfolio of twelve AllianzIM U.S. Equity Buffer15 Uncapped ETFs (“Underlying ETFs”). While the Fund itself does not pursue a buffered strategy, each Underlying ETF seeks to pursue a buffered strategy that is based on the performance of the SPDR^® S&P 500^® ETF’s (“SPY”) share price over a one-year Outcome Period. Given the strong positive performance of SPY during the period, the Fund’s diversified exposure to the Outcome Periods of the Underlying ETFs has resulted in the Fund experiencing a positive return as well.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (March 5, 2025^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM Buffer15 Uncapped Allocation ETF - NAV ($11,296)	S&P 500^® Price Return Index ($11,707)
3/5/2025	$10,000	$10,000
10/31/2025	$11,296	$11,707

Footnote	Description
Footnote^*	The inception date is March 5, 2025. Shares of SPBU were listed on the Cboe BZX Exchange, Inc. on March 7, 2025.

AllianzIM Buffer15 Uncapped Allocation ETF | SPBU

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM Buffer15 Uncapped Allocation ETF - NAV	12.96%
S&P 500^® Price Return Index	17.07%

^* The inception date is March 5, 2025. Shares of SPBU were listed on the Cboe BZX Exchange, Inc. on March 7, 2025.

Key Fund Statistics

Total Net Assets (000s)	$86,874
# of Portfolio Holdings	12
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$13

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Affiliated Exchange-Traded Funds	100.0%
Time deposits	0.0%^{Footnote Reference*}
Net other assets and liabilities	0.0%^{Footnote Reference*}
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

AllianzIM Buffer15 Uncapped Allocation ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SPBU 1025

AllianzIM 6 Month Buffer10 Allocation ETF | SPBX | Cboe BZX Exchange

Annual Shareholder Report - October 31, 2025

This annual shareholder report contains important information about AllianzIM 6 Month Buffer10 Allocation ETF (the “Fund”) for the period of January 7, 2025^{Footnote
Reference*} to October 31, 2025. You can find additional information about the Fund at www.allianzim.com/regulatory-documents/. You can also request this information by contacting us at 877-429-3837 (877-4AZ-ETFS).

This report describes changes to the Fund that occurred during the reporting period.

Footnote	Description
Footnote^*	The inception date is January 7, 2025. Shares of SPBX were listed on the NYSE Arca, Inc. on January 9, 2025.

What were the Fund costs for the last year?

(based on hypothetical $10,000 investment)

Fund Name	Cost of a $10,000 Investment^{Footnote Reference1}	Cost Paid as a percentage of a $10,000 Investment^{Footnote Reference*}^{Footnote Reference1}
AllianzIM 6 Month Buffer10 Allocation ETF	$4^{Footnote Reference**}	0.05%

Footnote	Description
Footnote^*	Annualized.
Footnote^**	Represents a period less than one year, had the Fund existed for the full one year reporting period, costs would have been higher.
Footnote¹	Reflects applicable fee waivers.

What affected Fund performance over the last year?

Since its inception date of January 7, 2025, the Fund has returned 8.48% while the S&P 500^® Price Return Index has returned 15.76%. The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a laddered portfolio of six AllianzIM U.S. Equity 6 Month Buffer10 ETFs (“Underlying ETFs”). While the Fund itself does not pursue a buffered strategy, each Underlying ETF seeks to pursue a buffered strategy that is based on the performance of the SPDR^® S&P 500^® ETF’s (“SPY”) share price over a six-month Outcome Period. Given the strong positive performance of SPY during the period, the Fund’s diversified exposure to the Outcome Periods of the Underlying ETFs has resulted in the Fund experiencing a positive return as well.
U.S. financial markets experienced notable fluctuations and developments since inception of the Fund. The Federal Reserve’s monetary policy remained a focal point, as it carefully adjusted interest rates to manage inflation while supporting economic growth. Broad U.S. stock market indices had moments of heightened volatility, largely influenced by tariffs and geopolitical tensions. Nonetheless, the S&P 500^® Price Return Index rallied in strong fashion on the heels of continued strong corporate earnings and momentum from technology-related stocks.

Fund Performance

The following graph assumes an initial $10,000 investment in the Fund at net asset value (“NAV”) and compares the initial and subsequent account values at the end of each fiscal year of the Fund since its inception (January 7, 2025^{Footnote
Reference*}). For comparative purposes, the graph and chart below also show the performance of the Fund’s broad-based securities market index.

Growth of a $10,000 Investment

	AllianzIM 6 Month Buffer10 Allocation ETF - NAV ($10,848)	S&P 500^® Price Return Index ($11,576)
1/7/2025	$10,000	$10,000
10/31/2025	$10,848	$11,576

Footnote	Description
Footnote^*	The inception date is January 7, 2025. Shares of SPBX were listed on the NYSE Arca, Inc. on January 9, 2025.

AllianzIM 6 Month Buffer10 Allocation ETF | SPBX

Annual Shareholder Report - October 31, 2025

Average Annual Total Returns (%)

Name	Since Inception*
AllianzIM 6 Month Buffer10 Allocation ETF - NAV	8.48%
S&P 500^® Price Return Index	15.76%

^* The inception date is January 7, 2025. Shares of SPBX were listed on the NYSE Arca, Inc. on January 9, 2025.

Key Fund Statistics

Total Net Assets (000s)	$37,902
# of Portfolio Holdings	6
Portfolio Turnover Rate (not annualized for periods less than one year and does not include derivative holdings)	-
Advisory Fees Paid (000s)	$11

What did the Fund invest in?

Portfolio Composition (as a percentage of net assets)

Affiliated Exchange-Traded Funds	100.0%
Time deposits	0.0%^{Footnote Reference*}
Net other assets and liabilities	0.0%^{Footnote Reference*}
Total	100.0%

Footnote	Description
Footnote^*	Rounds to less than 0.05%.

How has the Fund changed over the last year?

Effective December 22, 2025, the Fund's primary listing exchange for its shares transferred from the NYSE Arca, Inc. to the Cboe BZX Exchange, Inc.

AllianzIM 6 Month Buffer10 Allocation ETF

Annual Shareholder Report - October 31, 2025

Phone: 877-429-3837 (877-4AZ-ETFS)

SPBX 1025

The following fees paid to Cohen & Company, Ltd., the Registrant’s principal accounting firm, for services rendered for the fiscal years ended October 31, 2025, and October 31, 2024.

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the Registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $429,000 for October 31, 2025, and $341,000 for October 31, 2024.

The aggregate fees billed in each of the last two fiscal years for assurance and related services rendered to the Registrant by the principal accountant that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for October 31, 2025, and $0 for October 31, 2024.

The aggregate fees billed in each of the last two fiscal years for professional services rendered to the Registrant by Cohen & Co Advisory, LLC for tax compliance, tax advice and tax planning were $171,500 for October 31, 2025, and $140,000 for October 31, 2024. These services consisted of (i) review or preparation of U.S. federal, state, local and excise tax returns; (ii) U.S. federal, state and local entity tax planning, advice and assistance regarding statutory, regulatory or administrative developments, and (iii) tax advice regarding tax qualification.

The aggregate fees billed in each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for October 31, 2025, and $0 for October 31, 2024.

Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.

	(f)	Not applicable.
	(g)	The aggregate non-audit fees billed by the Registrant’s accountant for services rendered to the Registrant, and rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant were $0 for the fiscal year ended October 31, 2025, and $0 for the fiscal year ended October 31, 2024.


			Page
Schedules of Investments and Written Options			1
Statements of Assets and Liabilities			50
Statements of Operations			63
Statements of Changes in Net Assets			76
Financial Highlights			99
Notes to Financial Statements			126
Report of Independent Registered Public Accounting Firm			165
Other Information (unaudited) (Form N-CSR Items 8-10)
Changes in and Disagreements with Accountants			170
Proxy Disclosures			170
Remuneration Paid to Directors, Officers, and Others			170
Statement Regarding Basis for Approval of Investment Advisory Contract (unaudited) (Form N-CSR Item 11)			171


	Expiration Date	Exercise Price	Contracts^(a)	Notional Amount	Value
OPTION PURCHASED - CALLS^(b)(c) – 103.7%
Options on ETF – 103.7%
SPDR S&P 500 ETF Trust	December 2025	$4.34	802	$348,068	$54,209,963
Total Options Purchased – Calls (Cost $46,389,526)				348,068	54,209,963
OPTION PURCHASED - PUTS^(b)(c) – 0.3%
Options on ETF – 0.3%
SPDR S&P 500 ETF Trust	December 2025	586.02	802	46,998,804	179,263
Total Options Purchased – Puts (Cost $2,328,888)				46,998,804	179,263
				Principal
SHORT-TERM INVESTMENTS – 1.4%
Time Deposits – 1.4%
Australia & New Zealand Banking Group Ltd., London, 3.210%, 11/03/25^(d)				$743,878	743,878
Total Short-Term Investments (Cost $743,878)					743,878
Total Investments – 105.4% (Cost $49,462,292)					55,133,104
Other assets less liabilities – (5.4)%					(2,816,843)
Net Assets – 100.0%					$52,316,261


Description	Contracts^(a)	Exercise Price	Expiration Date	Premiums Received	Notional Amount	Value
SPDR S&P 500 ETF Trust	802	$674.23	December 2025	$600,016	$54,073,246	$(1,922,113)
				$600,016	$54,073,246	$(1,922,113)


	Shares	Value
AFFILIATED EXCHANGE-TRADED FUNDS – 100.0%^(a)(b)
AllianzIM U.S. Equity Buffer20 Jul ETF	90,077	$3,477,693
AllianzIM U.S. Equity Buffer20 Dec ETF	104,031	3,471,514
AllianzIM U.S. Equity Buffer20 Aug ETF	108,008	3,470,297
AllianzIM U.S. Equity Buffer20 Jun ETF	104,948	3,461,217
AllianzIM U.S. Equity Buffer20 Sep ETF	109,410	3,451,886
AllianzIM U.S. Equity Buffer20 Oct ETF	89,002	3,438,147
AllianzIM U.S. Equity Buffer20 Mar ETF	101,553	3,433,476
AllianzIM U.S. Equity Buffer20 Nov ETF	102,262	3,431,913
AllianzIM U.S. Equity Buffer20 Jan ETF	94,151	3,428,961
AllianzIM U.S. Equity Buffer20 Feb ETF	102,634	3,427,503
AllianzIM U.S. Equity Buffer20 May ETF	103,060	3,412,440
AllianzIM U.S. Equity Buffer20 Apr ETF	96,962	3,334,019
Total Affiliated Exchange-Traded Funds (Cost $38,394,509)		41,239,066
	Principal
SHORT-TERM INVESTMENTS – 0.0%^*
Time Deposits – 0.0%^*
DBS Bank Ltd., Singapore, 3.210%, 11/03/25^(c)	$11,210	11,210
Total Short-Term Investments (Cost $11,210)		11,210
Total Investments – 100.0% (Cost $38,405,719)		41,250,276
Other assets less liabilities – 0.0%^*		(1,487)
Net Assets – 100.0%		$41,248,789


	AllianzIM U.S. Equity Buffer10 Jan ETF	AllianzIM U.S Equity Buffer10 Feb ETF	AllianzIM U.S. Equity Buffer10 Mar ETF	AllianzIM U.S. Equity Buffer10 Apr ETF
ASSETS
Investments, at value	$55,133,104	$105,893,848	$28,108,488	$45,391,183
Receivable for investments sold	—	136,247	—	—
TOTAL ASSETS	55,133,104	106,030,095	28,108,488	45,391,183
LIABILITIES
Payables:
Investments purchased	—	4,508	—	—
Options contracts written, at value	1,998,255	3,481,300	1,336,059	4,222,403
Management fees	818,588	458,280	131,315	185,072
TOTAL LIABILITIES	2,816,843	3,944,088	1,467,374	4,407,475
NET ASSETS	$52,316,261	$102,086,007	$26,641,114	$40,983,708
COMPONENTS OF NET ASSETS
Paid-in capital	$54,161,692	$93,225,332	$26,177,635	$40,148,993
Total distributable earnings (accumulated loss)	(1,845,431)	8,860,675	463,479	834,715
NET ASSETS	$52,316,261	$102,086,007	$26,641,114	$40,983,708
NET ASSET VALUE PER SHARE
Net Asset Value	$40.24	$37.46	$38.06	$40.98
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	1,300,000	2,725,000	700,000	1,000,000
COST OF INVESTMENTS
Investments, at cost	$49,462,292	$94,395,151	$25,456,425	$38,763,752
Premiums received	$1,808,031	$5,267,090	$1,026,989	$1,743,007


	AllianzIM U.S. Equity Buffer10 May ETF	AllianzIM U.S. Equity Buffer10 Jun ETF	AllianzIM U.S. Equity Buffer10 Jul ETF	AllianzIM U.S. Equity Buffer10 Aug ETF
ASSETS
Investments, at value	$21,148,596	$23,232,025	$89,275,725	$39,122,633
TOTAL ASSETS	21,148,596	23,232,025	89,275,725	39,122,633
LIABILITIES
Payables:
Options contracts written, at value	1,997,203	1,671,746	4,927,581	2,072,330
Management fees	67,826	70,786	206,066	66,324
TOTAL LIABILITIES	2,065,029	1,742,532	5,133,647	2,138,654
NET ASSETS	$19,083,567	$21,489,493	$84,142,078	$36,983,979
COMPONENTS OF NET ASSETS
Paid-in capital	$17,445,237	$21,468,069	$84,035,154	$39,520,002
Total distributable earnings (accumulated loss)	1,638,330	21,424	106,924	(2,536,023)
NET ASSETS	$19,083,567	$21,489,493	$84,142,078	$36,983,979
NET ASSET VALUE PER SHARE
Net Asset Value	$36.35	$35.82	$44.29	$35.22
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	525,000	600,000	1,900,000	1,050,000
COST OF INVESTMENTS
Investments, at cost	$18,116,558	$20,857,221	$82,729,986	$36,823,368
Premiums received	$983,423	$936,057	$3,441,035	$1,485,712


	AllianzIM U.S. Equity Buffer10 Sep ETF	AllianzIM U.S. Equity Buffer10 Oct ETF	AllianzIM U.S. Equity Buffer10 Nov ETF	AllianzIM U.S. Equity Buffer10 Dec ETF
ASSETS
Investments, at value	$106,758,121	$61,320,431	$20,447,194	$118,304,799
Receivable for investments sold	—	—	20,982,140	—
TOTAL ASSETS	106,758,121	61,320,431	41,429,334	118,304,799
LIABILITIES
Payables:
Investments purchased	—	—	20,984,613	—
Options contracts written, at value	5,801,710	3,090,990	987,752	1,251,012
Management fees	119,474	33,984	257,554	723,862
TOTAL LIABILITIES	5,921,184	3,124,974	22,229,919	1,974,874
NET ASSETS	$100,836,937	$58,195,457	$19,199,415	$116,329,925
COMPONENTS OF NET ASSETS
Paid-in capital	$99,064,655	$66,780,895	$22,359,173	$108,179,088
Total distributable earnings (accumulated loss)	1,772,282	(8,585,438)	(3,159,758)	8,150,837
NET ASSETS	$100,836,937	$58,195,457	$19,199,415	$116,329,925
NET ASSET VALUE PER SHARE
Net Asset Value	$34.77	$43.11	$36.57	$36.07
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	2,900,000	1,350,000	525,000	3,225,000
COST OF INVESTMENTS
Investments, at cost	$101,642,412	$60,226,161	$20,449,381	$109,074,963
Premiums received	$4,193,711	$2,713,638	$985,565	$3,254,487


	AllianzIM U.S. Equity Buffer20 Jan ETF	AllianzIM U.S. Equity Buffer20 Feb ETF	AllianzIM U.S. Equity Buffer20 Mar ETF	AllianzIM U.S. Equity Buffer20 Apr ETF
ASSETS
Investments, at value	$311,314,067	$109,358,049	$74,239,678	$193,987,822
TOTAL ASSETS	311,314,067	109,358,049	74,239,678	193,987,822
LIABILITIES
Payables:
Options contracts written, at value	19,904,702	6,073,199	5,339,486	23,668,314
Management fees	2,654,751	559,505	384,260	750,705
TOTAL LIABILITIES	22,559,453	6,632,704	5,723,746	24,419,019
NET ASSETS	$288,754,614	$102,725,345	$68,515,932	$169,568,803
COMPONENTS OF NET ASSETS
Paid-in capital	$303,610,065	$108,264,997	$71,448,554	$173,133,375
Total distributable earnings (accumulated loss)	(14,855,451)	(5,539,652)	(2,932,622)	(3,564,572)
NET ASSETS	$288,754,614	$102,725,345	$68,515,932	$169,568,803
NET ASSET VALUE PER SHARE
Net Asset Value	$36.44	$33.41	$33.84	$34.40
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	7,925,000	3,075,000	2,025,000	4,929,000
COST OF INVESTMENTS
Investments, at cost	$278,373,546	$99,851,565	$67,099,120	$166,068,109
Premiums received	$10,162,638	$3,532,128	$2,436,377	$7,232,357


	AllianzIM U.S. Equity Buffer20 May ETF	AllianzIM U.S. Equity Buffer20 Jun ETF	AllianzIM U.S. Equity Buffer20 Jul ETF	AllianzIM U.S. Equity Buffer20 Aug ETF
ASSETS
Investments, at value	$79,090,795	$70,480,036	$332,561,062	$162,167,324
TOTAL ASSETS	79,090,795	70,480,036	332,561,062	162,167,324
LIABILITIES
Payables:
Options contracts written, at value	10,121,162	6,814,259	24,517,905	10,759,940
Management fees	280,427	198,780	764,869	290,722
TOTAL LIABILITIES	10,401,589	7,013,039	25,282,774	11,050,662
NET ASSETS	$68,689,206	$63,466,997	$307,278,288	$151,116,662
COMPONENTS OF NET ASSETS
Paid-in capital	$67,112,619	$65,173,645	$313,114,011	$166,144,923
Total distributable earnings (accumulated loss)	1,576,587	(1,706,648)	(5,835,723)	(15,028,261)
NET ASSETS	$68,689,206	$63,466,997	$307,278,288	$151,116,662
NET ASSET VALUE PER SHARE
Net Asset Value	$33.10	$32.97	$38.65	$32.15
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	2,075,000	1,925,000	7,950,000	4,700,000
COST OF INVESTMENTS
Investments, at cost	$67,663,864	$63,096,802	$309,327,788	$152,893,072
Premiums received	$3,693,517	$2,915,386	$13,083,320	$6,091,490


	AllianzIM U.S. Equity Buffer20 Sep ETF	AllianzIM U.S. Equity Buffer20 Oct ETF	AllianzIM U.S. Equity Buffer20 Nov ETF	AllianzIM U.S. Equity Buffer20 Dec ETF
ASSETS
Investments, at value	$312,621,622	$347,420,634	$61,244,380	$400,516,514
Receivable for investments sold	—	—	65,529,700	—
TOTAL ASSETS	312,621,622	347,420,634	126,774,080	400,516,514
LIABILITIES
Payables:
Investments purchased	—	—	65,481,497	—
Options contracts written, at value	20,162,727	18,980,248	2,975,336	13,050,836
Management fees	352,517	190,649	502,100	2,592,140
TOTAL LIABILITIES	20,515,244	19,170,897	68,958,933	15,642,976
NET ASSETS	$292,106,378	$328,249,737	$57,815,147	$384,873,538
COMPONENTS OF NET ASSETS
Paid-in capital	$295,180,953	$357,581,033	$70,779,314	$369,707,057
Total distributable earnings (accumulated loss)	(3,074,575)	(29,331,296)	(12,964,167)	15,166,481
NET ASSETS	$292,106,378	$328,249,737	$57,815,147	$384,873,538
NET ASSET VALUE PER SHARE
Net Asset Value	$31.58	$38.62	$33.52	$33.39
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	9,250,000	8,500,000	1,725,000	11,525,000
COST OF INVESTMENTS
Investments, at cost	$298,001,666	$341,536,675	$61,250,956	$366,844,242
Premiums received	$12,014,684	$15,479,205	$2,968,760	$12,090,012


	AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF	AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF	AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF	AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
ASSETS
Investments, at value	$78,045,436	$47,662,501	$23,892,304	$49,042,572
TOTAL ASSETS	78,045,436	47,662,501	23,892,304	49,042,572
LIABILITIES
Payables:
Options contracts written, at value	79,603	113,797	79,835	176,841
Management fees	414,622	247,870	91,329	183,906
TOTAL LIABILITIES	494,225	361,667	171,164	360,747
NET ASSETS	$77,551,211	$47,300,834	$23,721,140	$48,681,825
COMPONENTS OF NET ASSETS
Paid-in capital	$69,637,690	$43,202,397	$21,281,788	$43,672,430
Total distributable earnings (accumulated loss)	7,913,521	4,098,437	2,439,352	5,009,395
NET ASSETS	$77,551,211	$47,300,834	$23,721,140	$48,681,825
NET ASSET VALUE PER SHARE
Net Asset Value	$28.20	$27.82	$27.91	$30.43
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	2,750,000	1,700,000	850,000	1,600,000
COST OF INVESTMENTS
Investments, at cost	$70,651,498	$43,953,964	$21,722,076	$42,551,018
Premiums received	$1,213,230	$772,663	$453,476	$902,700


	AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF	AllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETF	AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF	AllianzIM U.S. Equity 6 Month Buffer10 Apr/Oct ETF
ASSETS
Investments, at value	$152,601,882	$66,494,710	$337,550,940	$137,190,162
Receivable for investments sold	—	68,403	—	—
TOTAL ASSETS	152,601,882	66,563,113	337,550,940	137,190,162
LIABILITIES
Payables:
Investments purchased	—	3,013	—	—
Options contracts written, at value	7,257,980	2,908,840	14,530,491	5,090,025
Management fees	664,093	123,631	436,068	77,057
TOTAL LIABILITIES	7,922,073	3,035,484	14,966,559	5,167,082
NET ASSETS	$144,679,809	$63,527,629	$322,584,381	$132,023,080
COMPONENTS OF NET ASSETS
Paid-in capital	$155,386,081	$65,712,720	$317,748,979	$158,017,596
Total distributable earnings (accumulated loss)	(10,706,272)	(2,185,091)	4,835,402	(25,994,516)
NET ASSETS	$144,679,809	$63,527,629	$322,584,381	$132,023,080
NET ASSET VALUE PER SHARE
Net Asset Value	$33.65	$31.37	$31.09	$34.29
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	4,300,000	2,025,000	10,375,000	3,850,000
COST OF INVESTMENTS
Investments, at cost	$144,221,229	$63,439,491	$322,885,871	$134,940,864
Premiums received	$4,190,618	$1,750,860	$9,163,221	$4,392,588


	AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF	AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF
ASSETS
Investments, at value	$17,537,716	$35,728,996	$9,197,170	$11,642,953
Receivable for investments sold	19,446,035	1,492,610	—	—
TOTAL ASSETS	36,983,751	37,221,606	9,197,170	11,642,953
LIABILITIES
Payables:
Investments purchased	19,463,544	110,718	—	—
Fund shares repurchased	—	1,429,135	—	—
Options contracts written, at value	600,655	2,627,049	503,932	350,369
Management fees	67,194	184,629	29,400	7,048
TOTAL LIABILITIES	20,131,393	4,351,531	533,332	357,417
NET ASSETS	$16,852,358	$32,870,075	$8,663,838	$11,285,536
COMPONENTS OF NET ASSETS
Paid-in capital	$20,836,939	$35,395,460	$9,229,654	$14,111,979
Total distributable earnings (accumulated loss)	(3,984,581)	(2,525,385)	(565,816)	(2,826,443)
NET ASSETS	$16,852,358	$32,870,075	$8,663,838	$11,285,536
NET ASSET VALUE PER SHARE
Net Asset Value	$29.31	$28.58	$31.50	$28.21
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	575,000	1,150,000	275,000	400,000
COST OF INVESTMENTS
Investments, at cost	$17,539,626	$32,019,027	$8,492,971	$11,427,976
Premiums received	$598,746	$1,159,519	$167,555	$236,625


	AllianzIM U.S. Equity Buffer15 ETF	AllianzIM U.S. Equity Buffer100 Protection ETF	AllianzIM Buffer20 Allocation ETF	AllianzIM Buffer15 Uncapped Allocation ETF
ASSETS
Investments, at value - Affiliated	$—	$—	$41,239,066	$86,856,762
Investments, at value - Unaffiliated	22,556,918	22,528,180	11,210	20,224
Receivable for investments sold	17,247	—	—	—
Receivable for Fund shares sold	646,340	—	676,210	—
TOTAL ASSETS	23,220,505	22,528,180	41,926,486	86,876,986
LIABILITIES
Payables:
Investments purchased - Affiliated	—	—	676,006	—
Investments purchased - Unaffiliated	617,532	—	—	—
Options contracts written, at value	629,148	685,496	—	—
Management fees	9,068	12,228	1,691	3,210
TOTAL LIABILITIES	1,255,748	697,724	677,697	3,210
NET ASSETS	$21,964,757	$21,830,456	$41,248,789	$86,873,776
COMPONENTS OF NET ASSETS
Paid-in capital	$22,016,299	$22,199,312	$38,416,647	$80,681,392
Total distributable earnings (accumulated loss)	(51,542)	(368,856)	2,832,142	6,192,384
NET ASSETS	$21,964,757	$21,830,456	$41,248,789	$86,873,776
NET ASSET VALUE PER SHARE
Net Asset Value	$25.84	$25.68	$27.05	$28.25
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)	850,000	850,000	1,525,000	3,075,000
COST OF INVESTMENTS
Investments, at cost - Affiliated	$—	$—	$38,394,509	$80,651,490
Investments, at cost - Unaffiliated	22,258,974	22,213,743	11,210	20,224
Premiums received	$504,314	$537,004	$—	$—


			AllianzIM 6 Month Buffer10 Allocation ETF
ASSETS
Investments, at value - Affiliated			$37,895,551
Investments, at value - Unaffiliated			8,220
TOTAL ASSETS			37,903,771
LIABILITIES
Payables:
Management fees			1,549
TOTAL LIABILITIES			1,549
NET ASSETS			$37,902,222
COMPONENTS OF NET ASSETS
Paid-in capital			$35,473,430
Total distributable earnings (accumulated loss)			2,428,792
NET ASSETS			$37,902,222
NET ASSET VALUE PER SHARE
Net Asset Value			$27.07
Shares of beneficial interest outstanding (unlimited number of Shares authorized, no par value)			1,400,000
COST OF INVESTMENTS
Investments, at cost - Affiliated			$35,455,967
Investments, at cost - Unaffiliated			8,220


	AllianzIM U.S. Equity Buffer10 Jan ETF	AllianzIM U.S. Equity Buffer10 Feb ETF	AllianzIM U.S. Equity Buffer10 Mar ETF	AllianzIM U.S. Equity Buffer10 Apr ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2025	For the Year Ended October 31, 2025	For the Year Ended October 31, 2025
INVESTMENT INCOME:
Interest income	$15,751	$7,952	$6,584	$7,972
Total Investment Income	15,751	7,952	6,584	7,972
EXPENSES:
Management fees	873,725	506,235	202,264	324,436
Interest expense	—	7	9	54
Total Expenses	873,725	506,242	202,273	324,490
NET INVESTMENT INCOME (LOSS)	(857,974)	(498,290)	(195,689)	(316,518)
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on:
Redemptions In-Kind	17,653,364	6,283,511	5,299,091	5,279,532
Option contracts purchased	(3,027,834)	(1,054,855)	(1,248,380)	(1,688,809)
Option contracts written	(2,120,750)	(1,463,147)	203,837	(23,563)
Net realized gain (loss)	12,504,780	3,765,509	4,254,548	3,567,160
Net change in unrealized appreciation (depreciation) on:
Options contracts purchased	2,008,675	8,922,448	528,556	3,796,968
Options contracts written	1,254,753	2,420,968	(328,969)	(2,724,619)
Net change in unrealized appreciation (depreciation)	3,263,428	11,343,416	199,587	1,072,349
NET REALIZED AND UNREALIZED GAIN (LOSS)	15,768,208	15,108,925	4,454,135	4,639,509
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$14,910,234	$14,610,635	$4,258,446	$4,322,991


	AllianzIM U.S. Equity 6 Month Buffer10 May/Nov ETF	AllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETF	AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF	AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2025	For the Year Ended October 31, 2025	For the Year Ended October 31, 2025
INVESTMENT INCOME:
Interest income	$3,468	$19,132	$3,895	$3,100
Total Investment Income	3,468	19,132	3,895	3,100
EXPENSES:
Management fees	141,344	628,798	142,180	111,683
Interest expense	8	—	34	20
Total Expenses	141,352	628,798	142,214	111,703
NET INVESTMENT INCOME (LOSS)	(137,884)	(609,666)	(138,319)	(108,603)
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on:
Redemptions In-Kind	4,975,506	6,731,028	4,377,394	4,206,801
Option contracts purchased	(1,659,577)	(3,326,387)	(630,919)	(1,446,535)
Option contracts written	(1,617,289)	(962,753)	131,751	(1,349,632)
Net realized gain (loss)	1,698,640	2,441,888	3,878,226	1,410,634
Net change in unrealized appreciation (depreciation) on:
Options contracts purchased	(817)	3,863,266	244,472	312,547
Options contracts written	(816)	(1,304,353)	(306,517)	(184,990)
Net change in unrealized appreciation (depreciation)	(1,633)	2,558,913	(62,045)	127,557
NET REALIZED AND UNREALIZED GAIN (LOSS)	1,697,007	5,000,801	3,816,181	1,538,191
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$1,559,123	$4,391,135	$3,677,862	$1,429,588


	AllianzIM U.S. Equity Buffer15 ETF	AllianzIM U.S. Equity Buffer100 Protection ETF	AllianzIM Buffer20 Allocation ETF	AllianzIM Buffer15 Uncapped Allocation ETF
	For the Period Ended October 31, 2025*	For the Period Ended October 31, 2025*	For the Period Ended October 31, 2025**	For the Period Ended October 31, 2025***
INVESTMENT INCOME:
Interest income	$910	$1,853	$465	$399
Total Investment Income	910	1,853	465	399
EXPENSES:
Management fees	20,069	40,438	25,760	26,574
Total Expenses	20,069	40,438	25,760	26,574
Management fees waiver	—	—	(12,880)	(13,287)
Net Expenses	20,069	40,438	12,880	13,287
NET INVESTMENT INCOME (LOSS)	(19,159)	(38,585)	(12,415)	(12,888)
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on:
Redemptions In-Kind - Affiliated	—	—	130,684	414,437
Redemptions In-Kind - Unaffiliated	386,063	923,066	—	—
Option contracts purchased	7,755	108,110	—	—
Option contracts written	(213,248)	(602,895)	—	—
Net realized gain (loss)	180,570	428,281	130,684	414,437
Net change in unrealized appreciation (depreciation) on:
Affiliated Exchange-Traded Funds	—	—	2,844,557	6,205,272
Options contracts purchased	297,944	314,437	—	—
Options contracts written	(124,834)	(148,492)	—	—
Net change in unrealized appreciation (depreciation)	173,110	165,945	2,844,557	6,205,272
NET REALIZED AND UNREALIZED GAIN (LOSS)	353,680	594,226	2,975,241	6,619,709
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS	$334,521	$555,641	$2,962,826	$6,606,821


			AllianzIM 6 Month Buffer10 Allocation ETF
			For the Period Ended October 31, 2025*
INVESTMENT INCOME:
Interest income			$380
Total Investment Income			380
EXPENSES:
Management fees			22,345
Total Expenses			22,345
Management fees waiver			(11,173)
Net Expenses			11,172
NET INVESTMENT INCOME (LOSS)			(10,792)
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:
Net realized gain (loss) on:
Redemptions In-Kind - Affiliated			75,417
Net realized gain (loss)			75,417
Net change in unrealized appreciation (depreciation) on:
Affiliated Exchange-Traded Funds			2,439,584
Net change in unrealized appreciation (depreciation)			2,439,584
NET REALIZED AND UNREALIZED GAIN (LOSS)			2,515,001
INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS			$2,504,209


	AllianzIM U.S. Equity Buffer10 Jan ETF		AllianzIM U.S. Equity Buffer10 Feb ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(857,974)	$(540,443)	$(498,290)	$(379,897)
Net realized gain (loss)	12,504,780	14,182,733	3,765,509	10,172,525
Net change in unrealized appreciation (depreciation)	3,263,428	2,007,048	11,343,416	1,754,672
Net increase (decrease) in net assets resulting from operations	14,910,234	15,649,338	14,610,635	11,547,300
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	—	—	—	(100,657)
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	161,383,002	284,566,594	96,800,617	130,701,868
Cost of Shares redeemed	(168,845,080)	(277,336,685)	(34,865,977)	(145,623,705)
Net increase (decrease) in net assets from capital transactions	(7,462,078)	7,229,909	61,934,640	(14,921,837)
Total increase (decrease) in net assets	7,448,156	22,879,247	76,545,275	(3,475,194)
NET ASSETS
Beginning of Year	44,868,105	21,988,858	25,540,732	29,015,926
End of Year	$52,316,261	$44,868,105	$102,086,007	$25,540,732
CHANGES IN SHARES OUTSTANDING
Shares issued	4,475,000	9,025,000	2,975,000	4,425,000
Shares redeemed	(4,450,000)	(8,550,000)	(1,025,000)	(4,775,000)
Net increase (decrease) in Shares outstanding	25,000	475,000	1,950,000	(350,000)
Shares outstanding, Beginning of Year	1,275,000	800,000	775,000	1,125,000
Shares outstanding, End of Year	1,300,000	1,275,000	2,725,000	775,000


	AllianzIM U.S. Equity Buffer10 Mar ETF		AllianzIM U.S. Equity Buffer10 Apr ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(195,689)	$(394,671)	$(316,518)	$(440,808)
Net realized gain (loss)	4,254,548	5,822,818	3,567,160	9,175,035
Net change in unrealized appreciation (depreciation)	199,587	2,137,450	1,072,349	2,148,663
Net increase (decrease) in net assets resulting from operations	4,258,446	7,565,597	4,322,991	10,882,890
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	27,627,798	117,182,695	43,309,479	113,690,343
Cost of Shares redeemed	(38,061,725)	(99,843,418)	(54,576,667)	(104,665,450)
Net increase (decrease) in net assets from capital transactions	(10,433,927)	17,339,277	(11,267,188)	9,024,893
Total increase (decrease) in net assets	(6,175,481)	24,904,874	(6,944,197)	19,907,783
NET ASSETS
Beginning of Year	32,816,595	7,911,721	47,927,905	28,020,122
End of Year	$26,641,114	$32,816,595	$40,983,708	$47,927,905
CHANGES IN SHARES OUTSTANDING
Shares issued	800,000	3,900,000	1,175,000	3,275,000
Shares redeemed	(1,100,000)	(3,200,000)	(1,450,000)	(2,925,000)
Net increase (decrease) in Shares outstanding	(300,000)	700,000	(275,000)	350,000
Shares outstanding, Beginning of Year	1,000,000	300,000	1,275,000	925,000
Shares outstanding, End of Year	700,000	1,000,000	1,000,000	1,275,000


	AllianzIM U.S. Equity Buffer10 May ETF		AllianzIM U.S. Equity Buffer10 Jun ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(121,378)	$(162,363)	$(136,966)	$(161,857)
Net realized gain (loss)	(201,430)	8,740,163	1,372,225	5,235,139
Net change in unrealized appreciation (depreciation)	2,388,861	(1,373,061)	1,191,607	580,965
Net increase (decrease) in net assets resulting from operations	2,066,053	7,204,739	2,426,866	5,654,247
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	3,309,824	59,747,891	25,543,563	50,326,277
Cost of Shares redeemed	(3,329,937)	(93,048,145)	(22,251,385)	(69,249,987)
Net increase (decrease) in net assets from capital transactions	(20,113)	(33,300,254)	3,292,178	(18,923,710)
Total increase (decrease) in net assets	2,045,940	(26,095,515)	5,719,044	(13,269,463)
NET ASSETS
Beginning of Year	17,037,627	43,133,142	15,770,449	29,039,912
End of Year	$19,083,567	$17,037,627	$21,489,493	$15,770,449
CHANGES IN SHARES OUTSTANDING
Shares issued	100,000	2,000,000	775,000	1,700,000
Shares redeemed	(100,000)	(3,175,000)	(675,000)	(2,350,000)
Net increase (decrease) in Shares outstanding	—	(1,175,000)	100,000	(650,000)
Shares outstanding, Beginning of Year	525,000	1,700,000	500,000	1,150,000
Shares outstanding, End of Year	525,000	525,000	600,000	500,000


	AllianzIM U.S. Equity Buffer10 Jul ETF		AllianzIM U.S. Equity Buffer10 Aug ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(511,652)	$(515,579)	$(350,029)	$(598,229)
Net realized gain (loss)	10,944,271	14,610,759	9,493,886	15,564,461
Net change in unrealized appreciation (depreciation)	3,067,491	5,114,023	(2,028,725)	6,228,811
Net increase (decrease) in net assets resulting from operations	13,500,110	19,209,203	7,115,132	21,195,043
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	150,145,852	224,473,788	40,109,361	292,634,049
Cost of Shares redeemed	(141,090,695)	(270,995,837)	(133,943,777)	(246,021,968)
Net increase (decrease) in net assets from capital transactions	9,055,157	(46,522,049)	(93,834,416)	46,612,081
Total increase (decrease) in net assets	22,555,267	(27,312,846)	(86,719,284)	67,807,124
NET ASSETS
Beginning of Year	61,586,811	88,899,657	123,703,263	55,896,139
End of Year	$84,142,078	$61,586,811	$36,983,979	$123,703,263
CHANGES IN SHARES OUTSTANDING
Shares issued	3,875,000	6,225,000	1,200,000	10,275,000
Shares redeemed	(3,575,000)	(7,550,000)	(4,225,000)	(8,575,000)
Net increase (decrease) in Shares outstanding	300,000	(1,325,000)	(3,025,000)	1,700,000
Shares outstanding, Beginning of Year	1,600,000	2,925,000	4,075,000	2,375,000
Shares outstanding, End of Year	1,900,000	1,600,000	1,050,000	4,075,000


	AllianzIM U.S. Equity Buffer10 Sep ETF		AllianzIM U.S. Equity Buffer10 Oct ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(277,516)	$(197,489)	$(846,004)	$(336,756)
Net realized gain (loss)	6,734,904	3,780,425	14,744,001	7,082,989
Net change in unrealized appreciation (depreciation)	2,087,875	1,728,560	817,866	448,279
Net increase (decrease) in net assets resulting from operations	8,545,263	5,311,496	14,715,863	7,194,512
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	106,786,305	128,515,120	94,796,294	177,738,047
Cost of Shares redeemed	(107,845,620)	(53,552,852)	(183,803,950)	(89,048,507)
Net increase (decrease) in net assets from capital transactions	(1,059,315)	74,962,268	(89,007,656)	88,689,540
Total increase (decrease) in net assets	7,485,948	80,273,764	(74,291,793)	95,884,052
NET ASSETS
Beginning of Year	93,350,989	13,077,225	132,487,250	36,603,198
End of Year	$100,836,937	$93,350,989	$58,195,457	$132,487,250
CHANGES IN SHARES OUTSTANDING
Shares issued	3,200,000	4,475,000	2,325,000	4,825,000
Shares redeemed	(3,425,000)	(1,900,000)	(4,525,000)	(2,450,000)
Net increase (decrease) in Shares outstanding	(225,000)	2,575,000	(2,200,000)	2,375,000
Shares outstanding, Beginning of Year	3,125,000	550,000	3,550,000	1,175,000
Shares outstanding, End of Year	2,900,000	3,125,000	1,350,000	3,550,000


	AllianzIM U.S. Equity Buffer10 Nov ETF		AllianzIM U.S. Equity Buffer10 Dec ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(253,170)	$(78,562)	$(722,924)	$(232,022)
Net realized gain (loss)	4,885,080	1,971,306	(797,040)	8,790,524
Net change in unrealized appreciation (depreciation)	3,002	(3,911)	12,570,079	(1,197,429)
Net increase (decrease) in net assets resulting from operations	4,634,912	1,888,833	11,050,115	7,361,073
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	—	—	—	(242,065)
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	29,659,152	57,376,800	132,630,196	128,451,474
Cost of Shares redeemed	(42,216,695)	(41,539,607)	(44,166,437)	(137,986,062)
Net increase (decrease) in net assets from capital transactions	(12,557,543)	15,837,193	88,463,759	(9,534,588)
Total increase (decrease) in net assets	(7,922,631)	17,726,026	99,513,874	(2,415,580)
NET ASSETS
Beginning of Year	27,122,046	9,396,020	16,816,051	19,231,631
End of Year	$19,199,415	$27,122,046	$116,329,925	$16,816,051
CHANGES IN SHARES OUTSTANDING
Shares issued	850,000	1,850,000	4,075,000	4,450,000
Shares redeemed	(1,175,000)	(1,350,000)	(1,375,000)	(4,675,000)
Net increase (decrease) in Shares outstanding	(325,000)	500,000	2,700,000	(225,000)
Shares outstanding, Beginning of Year	850,000	350,000	525,000	750,000
Shares outstanding, End of Year	525,000	850,000	3,225,000	525,000


	AllianzIM U.S. Equity Buffer20 Jan ETF		AllianzIM U.S. Equity Buffer20 Feb ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(2,837,680)	$(1,963,291)	$(661,543)	$(820,684)
Net realized gain (loss)	19,744,701	42,625,116	5,384,731	13,936,745
Net change in unrealized appreciation (depreciation)	21,354,807	(5,808,324)	4,097,991	2,405,342
Net increase (decrease) in net assets resulting from operations	38,261,828	34,853,501	8,821,179	15,521,403
DISTRIBUTIONS TO SHAREHOLDERS
Distributions from distributable earnings	—	—	—	(74,492)
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	531,509,521	806,682,098	105,811,095	266,023,638
Cost of Shares redeemed	(480,357,167)	(739,898,635)	(78,122,488)	(265,032,795)
Net increase (decrease) in net assets from capital transactions	51,152,354	66,783,463	27,688,607	990,843
Total increase (decrease) in net assets	89,414,182	101,636,964	36,509,786	16,437,754
NET ASSETS
Beginning of Year	199,340,432	97,703,468	66,215,559	49,777,805
End of Year	$288,754,614	$199,340,432	$102,725,345	$66,215,559
CHANGES IN SHARES OUTSTANDING
Shares issued	15,825,000	26,300,000	3,400,000	9,425,000
Shares redeemed	(13,925,000)	(23,700,000)	(2,500,000)	(9,175,000)
Net increase (decrease) in Shares outstanding	1,900,000	2,600,000	900,000	250,000
Shares outstanding, Beginning of Year	6,025,000	3,425,000	2,175,000	1,925,000
Shares outstanding, End of Year	7,925,000	6,025,000	3,075,000	2,175,000


	AllianzIM U.S. Equity Buffer20 Mar ETF		AllianzIM U.S. Equity Buffer20 Apr ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(513,485)	$(867,643)	$(1,237,461)	$(1,428,234)
Net realized gain (loss)	8,386,633	12,272,128	12,204,654	22,583,342
Net change in unrealized appreciation (depreciation)	310,224	2,534,177	1,149,925	6,069,558
Net increase (decrease) in net assets resulting from operations	8,183,372	13,938,662	12,117,118	27,224,666
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	83,250,964	272,571,044	175,659,635	343,829,232
Cost of Shares redeemed	(93,710,945)	(241,355,757)	(194,498,380)	(323,930,542)
Net increase (decrease) in net assets from capital transactions	(10,459,981)	31,215,287	(18,838,745)	19,898,690
Total increase (decrease) in net assets	(2,276,609)	45,153,949	(6,721,627)	47,123,356
NET ASSETS
Beginning of Year	70,792,541	25,638,592	176,290,430	129,167,074
End of Year	$68,515,932	$70,792,541	$169,568,803	$176,290,430
CHANGES IN SHARES OUTSTANDING
Shares issued	2,650,000	9,600,000	5,475,000	11,425,000
Shares redeemed	(2,950,000)	(8,250,000)	(6,025,000)	(10,600,000)
Net increase (decrease) in Shares outstanding	(300,000)	1,350,000	(550,000)	825,000
Shares outstanding, Beginning of Year	2,325,000	975,000	5,479,000	4,654,000
Shares outstanding, End of Year	2,025,000	2,325,000	4,929,000	5,479,000


	AllianzIM U.S. Equity Buffer20 May ETF		AllianzIM U.S. Equity Buffer20 Jun ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(468,981)	$(398,237)	$(535,339)	$(651,629)
Net realized gain (loss)	7,624,232	9,471,412	2,227,670	11,899,250
Net change in unrealized appreciation (depreciation)	1,389,689	1,414,895	1,866,781	1,301,664
Net increase (decrease) in net assets resulting from operations	8,544,940	10,488,070	3,559,112	12,549,285
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	81,996,377	96,646,864	111,055,624	268,692,933
Cost of Shares redeemed	(75,902,212)	(131,270,732)	(103,491,409)	(296,056,759)
Net increase (decrease) in net assets from capital transactions	6,094,165	(34,623,868)	7,564,215	(27,363,826)
Total increase (decrease) in net assets	14,639,105	(24,135,798)	11,123,327	(14,814,541)
NET ASSETS
Beginning of Year	54,050,101	78,185,899	52,343,670	67,158,211
End of Year	$68,689,206	$54,050,101	$63,466,997	$52,343,670
CHANGES IN SHARES OUTSTANDING
Shares issued	2,750,000	3,475,000	3,625,000	9,525,000
Shares redeemed	(2,475,000)	(4,750,000)	(3,475,000)	(10,400,000)
Net increase (decrease) in Shares outstanding	275,000	(1,275,000)	150,000	(875,000)
Shares outstanding, Beginning of Year	1,800,000	3,075,000	1,775,000	2,650,000
Shares outstanding, End of Year	2,075,000	1,800,000	1,925,000	1,775,000


	AllianzIM U.S. Equity Buffer20 Jul ETF		AllianzIM U.S. Equity Buffer20 Aug ETF
	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024	For the Year Ended October 31, 2025	For the Year Ended October 31, 2024
OPERATIONS:
Net investment income (loss)	$(1,663,068)	$(1,527,300)	$(1,168,539)	$(1,295,647)
Net realized gain (loss)	24,799,066	28,895,039	25,837,767	22,071,627
Net change in unrealized appreciation (depreciation)	5,773,227	10,031,389	(3,350,650)	12,074,223
Net increase (decrease) in net assets resulting from operations	28,909,225	37,399,128	21,318,578	32,850,203
CAPITAL TRANSACTIONS:
Proceeds from Shares issued	354,038,564	482,276,640	233,381,595	557,346,687
Cost of Shares redeemed	(275,301,807)	(532,312,858)	(452,946,412)	(396,518,287)
Net increase (decrease) in net assets from capital transactions	78,736,757	(50,036,218)	(219,564,817)	160,828,400
Total increase (decrease) in net assets	107,645,982	(12,637,090)	(198,246,239)	193,678,603
NET ASSETS
Beginning of Year	199,632,306	212,269,396	349,362,901	155,684,298
End of Year	$307,278,288	$199,632,306	$151,116,662	$349,362,901
CHANGES IN SHARES OUTSTANDING
Shares issued	9,725,000	14,700,000	7,725,000	20,275,000
Shares redeemed	(7,575,000)	(16,200,000)	(15,175,000)	(14,600,000)
Net increase (decrease) in Shares outstanding	2,150,000	(1,500,000)	(7,450,000)	5,675,000
Shares outstanding, Beginning of Year	5,800,000	7,300,000	12,150,000	6,475,000
Shares outstanding, End of Year	7,950,000	5,800,000	4,700,000	12,150,000