AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jan ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.4%
Options on ETF – 100.4%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
$   4.34
 
 
2,532
 
 
$1,098,888
 
 
$158,109,702
Total Options Purchased – Calls
(Cost $146,027,629)
 
 
 
 
 
 
 
 
1,098,888
 
 
158,109,702
OPTION PURCHASED – PUTS(b)(c) – 1.8%
Options on ETF – 1.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
586.02
 
 
2,532
 
 
148,380,264
 
 
2,787,884
Total Options Purchased – Puts
(Cost $7,281,461)
 
 
 
 
 
 
 
 
148,380,264
 
 
2,787,884
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.3%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.3%
 
 
 
 
 
 
 
 
 
 
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$537,300
 
 
537,300
Total Short-Term Investments
(Cost $537,300)
 
 
 
 
 
 
 
 
 
 
537,300
Total Investments – 102.5%
(Cost $153,846,390)
 
 
 
 
 
 
 
 
 
 
161,434,886
Other assets less liabilities – (2.5)%
 
 
 
 
 
 
 
 
 
 
(3,945,953)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$157,488,933
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
2,532
 
 
$674.23
 
 
December 2025
 
 
$1,921,872
 
 
$170,715,036
 
 
$(1,999,926)
 
 
 
 
 
 
 
 
$1,921,872
 
 
$170,715,036
 
 
$(1,999,926)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
2,532
 
 
$527.47
 
 
December 2025
 
 
$3,913,619
 
 
$133,555,404
 
 
$(1,295,498)
 
 
 
 
 
 
 
 
$3,913,619
 
 
$133,555,404
 
 
$(1,295,498)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$5,835,491
 
 
$304,270,440
 
 
$(3,295,424)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
1
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jan ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Jan ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
2
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jan ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Jan ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$158,109,702
 
 
$   —
 
 
$158,109,702
Option Purchased - Puts
 
 
—
 
 
2,787,884
 
 
—
 
 
2,787,884
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
537,300
 
 
—
 
 
—
 
 
537,300
Total Assets
 
 
$537,300
 
 
$160,897,586
 
 
$—
 
 
$161,434,886
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(1,999,926)
 
 
$—
 
 
$(1,999,926)
Put Options Written
 
 
—
 
 
(1,295,498)
 
 
—
 
 
(1,295,498)
Total Liabilities
 
 
$—
 
 
$(3,295,424)
 
 
$—
 
 
$(3,295,424)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
3
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Feb ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.8%
Options on ETF – 99.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
$4.45
 
 
1,596
 
 
$710,220
 
 
$99,737,216
Total Options Purchased – Calls
(Cost $87,882,721)
 
 
 
 
 
 
 
 
710,220
 
 
99,737,216
OPTION PURCHASED – PUTS(b)(c) – 2.4%
Options on ETF – 2.4%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
601.76
 
 
1,596
 
 
96,040,896
 
 
2,430,373
Total Options Purchased – Puts
(Cost $8,946,617)
 
 
 
 
 
 
 
 
96,040,896
 
 
2,430,373
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
Time Deposits – 0.2%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$203,721
 
 
203,721
Total Short-Term Investments
(Cost $203,721)
 
 
 
 
 
 
 
 
 
 
203,721
Total Investments – 102.4%
(Cost $97,033,059)
 
 
 
 
 
 
 
 
 
 
102,371,310
Other assets less liabilities – (2.4)%
 
 
 
 
 
 
 
 
 
 
(2,443,328)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$99,927,982
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,596
 
 
$690.29
 
 
January 2026
 
 
$600,362
 
 
$110,170,284
 
 
$(1,001,761)
 
 
 
 
 
 
 
 
$600,362
 
 
$110,170,284
 
 
$(1,001,761)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,596
 
 
$541.64
 
 
January 2026
 
 
$4,848,412
 
 
$86,445,744
 
 
$(1,171,751)
 
 
 
 
 
 
 
 
$4,848,412
 
 
$86,445,744
 
 
$(1,171,751)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$5,448,774
 
 
$196,616,028
 
 
$(2,173,512)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
4
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Feb ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Feb ETF’s (the “Fund”) investments are valued daily at market or, in the absence of
market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
5
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Feb ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Feb ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$99,737,216
 
 
$—
 
 
$99,737,216
Option Purchased - Puts
 
 
—
 
 
2,430,373
 
 
—
 
 
2,430,373
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
203,721
 
 
—
 
 
—
 
 
203,721
Total Assets
 
 
$203,721
 
 
$102,167,589
 
 
$—
 
 
$102,371,310
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(1,001,761)
 
 
$—
 
 
$(1,001,761)
Put Options Written
 
 
—
 
 
(1,171,751)
 
 
—
 
 
(1,171,751)
Total Liabilities
 
 
$—
 
 
$(2,173,512)
 
 
$—
 
 
$(2,173,512)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Mar ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.6%
Options on ETF – 100.6%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
February 2026
 
 
$4.40
 
 
440
 
 
$193,600
 
 
$27,511,137
Total Options Purchased – Calls
(Cost $25,751,811)
 
 
 
 
 
 
 
 
193,600
 
 
27,511,137
OPTION PURCHASED – PUTS(b)(c) – 2.5%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.5%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
February 2026
 
 
594.12
 
 
440
 
 
26,141,280
 
 
671,642
Total Options Purchased – Puts
(Cost $1,388,166)
 
 
 
 
 
 
 
 
26,141,280
 
 
671,642
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.2%
 
 
 
 
 
 
 
 
 
 
JP Morgan Chase & Co.,
New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$61,942
 
 
61,942
Total Short-Term Investments
(Cost $61,942)
 
 
 
 
 
 
 
 
 
 
61,942
Total Investments – 103.3%
(Cost $27,201,919)
 
 
 
 
 
 
 
 
 
 
28,244,721
Other assets less liabilities – (3.3)%
 
 
 
 
 
 
 
 
 
 
(893,590)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$27,351,131
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
440
 
 
$682.95
 
 
February 2026
 
 
$366,737
 
 
$30,049,800
 
 
$(470,452)
 
 
 
 
 
 
 
 
$366,737
 
 
$30,049,800
 
 
$(470,452)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
440
 
 
$534.76
 
 
February 2026
 
 
$745,731
 
 
$23,529,440
 
 
$(343,306)
 
 
 
 
 
 
 
 
$745,731
 
 
$23,529,440
 
 
$(343,306)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,112,468
 
 
$53,579,240
 
 
$(813,758)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
7
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Mar ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Mar ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
8
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Mar ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Mar ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$27,511,137
 
 
$—
 
 
$27,511,137
Option Purchased - Puts
 
 
—
 
 
671,642
 
 
—
 
 
671,642
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
61,942
 
 
—
 
 
—
 
 
61,942
Total Assets
 
 
$61,942
 
 
$28,182,779
 
 
$—
 
 
$28,244,721
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(470,452)
 
 
$—
 
 
$(470,452)
Put Options Written
 
 
—
 
 
(343,306)
 
 
—
 
 
(343,306)
Total Liabilities
 
 
$—
 
 
$(813,758)
 
 
$—
 
 
$(813,758)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Apr ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 104.3%
Options on ETF – 104.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
March 2026
 
 
$   4.14
 
 
732
 
 
$303,048
 
 
$45,673,938
Total Options Purchased – Calls
(Cost $39,805,205)
 
 
 
 
 
 
 
 
303,048
 
 
45,673,938
OPTION PURCHASED – PUTS(b)(c) – 2.0%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.0%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
March 2026
 
 
559.33
 
 
732
 
 
40,942,956
 
 
870,912
Total Options Purchased – Puts
(Cost $2,501,237)
 
 
 
 
 
 
 
 
40,942,956
 
 
870,912
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.2%
 
 
 
 
 
 
 
 
 
 
Australia & New Zealand Banking Group Ltd., New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$72,061
 
 
72,061
Total Short-Term Investments
(Cost $72,061)
 
 
 
 
 
 
 
 
 
 
72,061
Total Investments – 106.5%
(Cost $42,378,503)
 
 
 
 
 
 
 
 
 
 
46,616,911
Other assets less liabilities – (6.5)%
 
 
 
 
 
 
 
 
 
 
(2,862,667)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$43,754,244
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
732
 
 
$646.10
 
 
March 2026
 
 
$612,642
 
 
$47,294,520
 
 
$(2,277,237)
 
 
 
 
 
 
 
 
$612,642
 
 
$47,294,520
 
 
$(2,277,237)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
732
 
 
$503.45
 
 
March 2026
 
 
$1,422,265
 
 
$36,852,540
 
 
$(479,753)
 
 
 
 
 
 
 
 
$1,422,265
 
 
$36,852,540
 
 
$(479,753)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$2,034,907
 
 
$84,147,060
 
 
$(2,756,990)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
10
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Apr ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Apr ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
11
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Apr ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Apr ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$45,673,938
 
 
$   —
 
 
$45,673,938
Option Purchased - Puts
 
 
—
 
 
870,912
 
 
—
 
 
870,912
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
72,061
 
 
—
 
 
—
 
 
72,061
Total Assets
 
 
$72,061
 
 
$46,544,850
 
 
$—
 
 
$46,616,911
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(2,277,237)
 
 
$—
 
 
$(2,277,237)
Put Options Written
 
 
—
 
 
(479,753)
 
 
—
 
 
(479,753)
Total Liabilities
 
 
$—
 
 
$(2,756,990)
 
 
$—
 
 
$(2,756,990)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
12
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 May ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 104.5%
Options on ETF – 104.5%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
April 2026
 
 
$4.10
 
 
310
 
 
$127,100
 
 
$19,352,255
Total Options Purchased – Calls
(Cost $16,981,568)
 
 
 
 
 
 
 
 
127,100
 
 
19,352,255
OPTION PURCHASED – PUTS(b)(c) – 2.1%
Options on ETF – 2.1%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
April 2026
 
 
554.48
 
 
310
 
 
17,188,880
 
 
383,278
Total Options Purchased – Puts
(Cost $1,130,577)
 
 
 
 
 
 
 
 
17,188,880
 
 
383,278
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$5,032
 
 
5,032
Total Short-Term Investments
(Cost $5,032)
 
 
 
 
 
 
 
 
 
 
5,032
Total Investments – 106.6%
(Cost $18,117,177)
 
 
 
 
 
 
 
 
 
 
19,740,565
Other assets less liabilities – (6.6)%
 
 
 
 
 
 
 
 
 
 
(1,225,914)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$18,514,651
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
310
 
 
$651.53
 
 
April 2026
 
 
$329,553
 
 
$20,197,430
 
 
$(975,995)
 
 
 
 
 
 
 
 
$329,553
 
 
$20,197,430
 
 
$(975,995)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
310
 
 
$499.09
 
 
April 2026
 
 
$656,165
 
 
$15,471,790
 
 
$(217,217)
 
 
 
 
 
 
 
 
$656,165
 
 
$15,471,790
 
 
$(217,217)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$985,718
 
 
$35,669,220
 
 
$(1,193,212)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
13
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 May ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 May ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
14
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 May ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 May ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$19,352,255
 
 
$—
 
 
$19,352,255
Option Purchased - Puts
 
 
—
 
 
383,278
 
 
—
 
 
383,278
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
5,032
 
 
—
 
 
—
 
 
5,032
Total Assets
 
 
$5,032
 
 
$19,735,533
 
 
$—
 
 
$19,740,565
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(975,995)
 
 
$—
 
 
$(975,995)
Put Options Written
 
 
—
 
 
(217,217)
 
 
—
 
 
(217,217)
Total Liabilities
 
 
$—
 
 
$(1,193,212)
 
 
$—
 
 
$(1,193,212)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
15
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jun ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 101.8%
Options on ETF – 101.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
May 2026
 
 
$4.36
 
 
380
 
 
$165,680
 
 
$23,728,218
Total Options Purchased – Calls
(Cost $22,149,727)
 
 
 
 
 
 
 
 
165,680
 
 
23,728,218
OPTION PURCHASED – PUTS(b)(c) – 3.1%
Options on ETF – 3.1%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
May 2026
 
 
589.33
 
 
380
 
 
22,394,540
 
 
711,079
Total Options Purchased – Puts
(Cost $1,232,090)
 
 
 
 
 
 
 
 
22,394,540
 
 
711,079
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.1%
Time Deposits – 0.1%
JP Morgan Chase & Co.,
New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$30,525
 
 
30,525
Total Short-Term Investments
(Cost $30,525)
 
 
 
 
 
 
 
 
 
 
30,525
Total Investments – 105.0%
(Cost $23,412,342)
 
 
 
 
 
 
 
 
 
 
24,469,822
Other assets less liabilities – (5.0)%
 
 
 
 
 
 
 
 
 
 
(1,154,530)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$23,315,292
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
380
 
 
$681.97
 
 
May 2026
 
 
$375,028
 
 
$25,914,860
 
 
$(727,115)
 
 
 
 
 
 
 
 
$375,028
 
 
$25,914,860
 
 
$(727,115)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
380
 
 
$530.45
 
 
May 2026
 
 
$699,924
 
 
$20,157,100
 
 
$(400,391)
 
 
 
 
 
 
 
 
$699,924
 
 
$20,157,100
 
 
$(400,391)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,074,952
 
 
$46,071,960
 
 
$(1,127,506)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
16
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jun ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Jun ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
17
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jun ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Jun ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$23,728,218
 
 
$—
 
 
$23,728,218
Option Purchased - Puts
 
 
—
 
 
711,079
 
 
—
 
 
711,079
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
30,525
 
 
—
 
 
—
 
 
30,525
Total Assets
 
 
$30,525
 
 
$24,439,297
 
 
$—
 
 
$24,469,822
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(727,115)
 
 
$—
 
 
$(727,115)
Put Options Written
 
 
—
 
 
(400,391)
 
 
—
 
 
(400,391)
Total Liabilities
 
 
$—
 
 
$(1,127,506)
 
 
$—
 
 
$(1,127,506)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
18
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jul ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.9%
Options on ETF – 99.9%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
June 2026
 
 
$   4.57
 
 
1,326
 
 
$605,982
 
 
$82,553,405
Total Options Purchased – Calls
(Cost $80,553,085)
 
 
 
 
 
 
 
 
605,982
 
 
82,553,405
OPTION PURCHASED – PUTS(b)(c) – 4.3%
Options on ETF – 4.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
June 2026
 
 
617.79
 
 
1,326
 
 
81,918,954
 
 
3,517,401
Total Options Purchased – Puts
(Cost $4,358,529)
 
 
 
 
 
 
 
 
81,918,954
 
 
3,517,401
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$11,381
 
 
11,381
Total Short-Term Investments
(Cost $11,381)
 
 
 
 
 
 
 
 
 
 
11,381
Total Investments – 104.2%
(Cost $84,922,995)
 
 
 
 
 
 
 
 
 
 
86,082,187
Other assets less liabilities – (4.2)%
 
 
 
 
 
 
 
 
 
 
(3,474,733)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$82,607,454
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,326
 
 
$712.26
 
 
June 2026
 
 
$1,093,052
 
 
$94,445,676
 
 
$(1,438,551)
 
 
 
 
 
 
 
 
$1,093,052
 
 
$94,445,676
 
 
$(1,438,551)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,326
 
 
$556.07
 
 
June 2026
 
 
$2,444,041
 
 
$73,734,882
 
 
$(1,985,526)
 
 
 
 
 
 
 
 
$2,444,041
 
 
$73,734,882
 
 
$(1,985,526)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$3,537,093
 
 
$168,180,558
 
 
$(3,424,077)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
19
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Jul ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
20
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Jul ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$82,553,405
 
 
$   —
 
 
$82,553,405
Option Purchased - Puts
 
 
—
 
 
3,517,401
 
 
—
 
 
3,517,401
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
11,381
 
 
—
 
 
—
 
 
11,381
Total Assets
 
 
$11,381
 
 
$86,070,806
 
 
$—
 
 
$86,082,187
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(1,438,551)
 
 
$—
 
 
$(1,438,551)
Put Options Written
 
 
—
 
 
(1,985,526)
 
 
—
 
 
(1,985,526)
Total Liabilities
 
 
$—
 
 
$(3,424,077)
 
 
$—
 
 
$(3,424,077)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
21
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Aug ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.3%
Options on ETF – 99.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
July 2026
 
 
$4.68
 
 
496
 
 
$232,128
 
 
$30,877,984
Total Options Purchased – Calls
(Cost $30,879,893)
 
 
 
 
 
 
 
 
232,128
 
 
30,877,984
OPTION PURCHASED – PUTS(b)(c) – 5.0%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 5.0%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
July 2026
 
 
632.02
 
 
496
 
 
31,348,192
 
 
1,558,432
Total Options Purchased – Puts
(Cost $1,560,342)
 
 
 
 
 
 
 
 
31,348,192
 
 
1,558,432
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.8%
Time Deposits – 1.8%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$575,639
 
 
575,639
Total Short-Term Investments
(Cost $575,639)
 
 
 
 
 
 
 
 
 
 
575,639
Total Investments – 106.1%
(Cost $33,015,874)
 
 
 
 
 
 
 
 
 
 
33,012,055
Other assets less liabilities – (6.1)%
 
 
 
 
 
 
 
 
 
 
(1,905,804)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$31,106,251
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
496
 
 
$728.35
 
 
July 2026
 
 
$432,090
 
 
$36,126,160
 
 
$(434,000)
 
 
 
 
 
 
 
 
$432,090
 
 
$36,126,160
 
 
$(434,000)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
496
 
 
$568.87
 
 
July 2026
 
 
$880,970
 
 
$28,215,952
 
 
$(882,880)
 
 
 
 
 
 
 
 
$880,970
 
 
$28,215,952
 
 
$(882,880)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,313,060
 
 
$64,342,112
 
 
$(1,316,880)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
22
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Aug ETF’s (the “Fund”) investments are valued daily at market or, in the absence of
market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
23
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Aug ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$30,877,984
 
 
$—
 
 
$—
 
 
$30,877,984
Option Purchased - Puts
 
 
1,558,432
 
 
—
 
 
—
 
 
1,558,432
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
575,639
 
 
—
 
 
—
 
 
575,639
Total Assets
 
 
$33,012,055
 
 
$—
 
 
$—
 
 
$33,012,055
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$(434,000)
 
 
$—
 
 
$—
 
 
$(434,000)
Put Options Written
 
 
(882,880)
 
 
—
 
 
—
 
 
(882,880)
Total Liabilities
 
 
$(1,316,880)
 
 
$—
 
 
$—
 
 
$(1,316,880)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
24
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Sep ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.5%
Options on ETF – 100.5%
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
$4.17
 
 
276
 
 
$115,092
 
 
$17,331,677
Total Options Purchased – Calls
(Cost $15,621,958)
 
 
 
 
 
 
 
 
115,092
 
 
17,331,677
OPTION PURCHASED – PUTS(b)(c) – 0.2%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 0.2%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
563.62
 
 
276
 
 
15,555,912
 
 
24,144
Total Options Purchased – Puts
(Cost $863,028)
 
 
 
 
 
 
 
 
15,555,912
 
 
24,144
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.5%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 1.5%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$264,030
 
 
264,030
Total Short-Term Investments
(Cost $264,030)
 
 
 
 
 
 
 
 
 
 
264,030
Total Investments – 102.2%
(Cost $16,749,016)
 
 
 
 
 
 
 
 
 
 
17,619,851
Other assets less liabilities – (2.2)%
 
 
 
 
 
 
 
 
 
 
(371,294)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$17,248,557
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
276
 
 
$645.58
 
 
August 2025
 
 
$140,780
 
 
$17,818,008
 
 
$(106,194)
 
 
 
 
 
 
 
 
$140,780
 
 
$17,818,008
 
 
$(106,194)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
276
 
 
$507.31
 
 
August 2025
 
 
$351,038
 
 
$14,001,756
 
 
$(9,743)
 
 
 
 
 
 
 
 
$351,038
 
 
$14,001,756
 
 
$(9,743)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$491,818
 
 
$31,819,764
 
 
$(115,937)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
25
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Sep ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
26
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Sep ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$17,331,677
 
 
$—
 
 
$17,331,677
Option Purchased - Puts
 
 
—
 
 
24,144
 
 
—
 
 
24,144
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
264,030
 
 
—
 
 
—
 
 
264,030
Total Assets
 
 
$264,030
 
 
$17,355,821
 
 
$—
 
 
$17,619,851
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(106,194)
 
 
$—
 
 
$(106,194)
Put Options Written
 
 
—
 
 
(9,743)
 
 
—
 
 
(9,743)
Total Liabilities
 
 
$—
 
 
$(115,937)
 
 
$—
 
 
$(115,937)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
27
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Oct ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.5%
Options on ETF – 100.5%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$4.25
 
 
967
 
 
$410,975
 
 
$60,551,712
Total Options Purchased – Calls
(Cost $56,033,085)
 
 
 
 
 
 
 
 
410,975
 
 
60,551,712
OPTION PURCHASED – PUTS(b)(c) – 0.5%
Options on ETF – 0.5%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
573.70
 
 
967
 
 
55,476,790
 
 
318,559
Total Options Purchased – Puts
(Cost $3,028,499)
 
 
 
 
 
 
 
 
55,476,790
 
 
318,559
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.3%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 1.3%
 
 
 
 
 
 
 
 
 
 
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$758,599
 
 
758,599
Total Short-Term Investments
(Cost $758,599)
 
 
 
 
 
 
 
 
 
 
758,599
Total Investments – 102.3%
(Cost $59,820,183)
 
 
 
 
 
 
 
 
 
 
61,628,870
Other assets less liabilities – (2.3)%
 
 
 
 
 
 
 
 
 
 
(1,352,225)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$60,276,645
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
967
 
 
$655.81
 
 
September 2025
 
 
$613,820
 
 
$63,416,827
 
 
$(402,688)
 
 
 
 
 
 
 
 
$613,820
 
 
$63,416,827
 
 
$(402,688)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
967
 
 
$516.38
 
 
September 2025
 
 
$1,149,851
 
 
$49,933,946
 
 
$(112,694)
 
 
 
 
 
 
 
 
$1,149,851
 
 
$49,933,946
 
 
$(112,694)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,763,671
 
 
$113,350,773
 
 
$(515,382)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
28
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Oct ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
29
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Oct ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$60,551,712
 
 
$—
 
 
$60,551,712
Option Purchased - Puts
 
 
—
 
 
318,559
 
 
—
 
 
318,559
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
758,599
 
 
—
 
 
—
 
 
758,599
Total Assets
 
 
$758,599
 
 
$60,870,271
 
 
$—
 
 
$61,628,870
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(402,688)
 
 
$—
 
 
$(402,688)
Put Options Written
 
 
—
 
 
(112,694)
 
 
—
 
 
(112,694)
Total Liabilities
 
 
$—
 
 
$(515,382)
 
 
$—
 
 
$(515,382)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
30
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Nov ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.9%
Options on ETF – 100.9%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
$   4.21
 
 
647
 
 
$272,387
 
 
$40,520,465
Total Options Purchased – Calls
(Cost $36,544,359)
 
 
 
 
 
 
 
 
272,387
 
 
40,520,465
OPTION PURCHASED – PUTS(b)(c) – 0.8%
Options on ETF – 0.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
568.58
 
 
647
 
 
36,787,126
 
 
332,254
Total Options Purchased – Puts
(Cost $1,793,830)
 
 
 
 
 
 
 
 
36,787,126
 
 
332,254
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.5%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.5%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$182,003
 
 
182,003
Total Short-Term Investments
(Cost $182,003)
 
 
 
 
 
 
 
 
 
 
182,003
Total Investments – 102.2%
(Cost $38,520,192)
 
 
 
 
 
 
 
 
 
 
41,034,722
Other assets less liabilities – (2.2)%
 
 
 
 
 
 
 
 
 
 
(872,714)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$40,162,008
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
647
 
 
$656.04
 
 
October 2025
 
 
$589,500
 
 
$42,445,788
 
 
$(528,036)
 
 
 
 
 
 
 
 
$589,500
 
 
$42,445,788
 
 
$(528,036)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
647
 
 
$511.78
 
 
October 2025
 
 
$995,505
 
 
$33,112,166
 
 
$(139,105)
 
 
 
 
 
 
 
 
$995,505
 
 
$33,112,166
 
 
$(139,105)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,585,005
 
 
$75,557,954
 
 
$(667,141)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
31
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Nov ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
32
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Nov ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$40,520,465
 
 
$   —
 
 
$40,520,465
Option Purchased - Puts
 
 
—
 
 
332,254
 
 
—
 
 
332,254
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
182,003
 
 
—
 
 
—
 
 
182,003
Total Assets
 
 
$182,003
 
 
$40,852,719
 
 
$—
 
 
$41,034,722
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(528,036)
 
 
$—
 
 
$(528,036)
Put Options Written
 
 
—
 
 
(139,105)
 
 
—
 
 
(139,105)
Total Liabilities
 
 
$—
 
 
$(667,141)
 
 
$—
 
 
$(667,141)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
33
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Dec ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.4%
Options on ETF – 99.4%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
$4.46
 
 
1,696
 
 
$756,416
 
 
$106,183,643
Total Options Purchased – Calls
(Cost $100,889,566)
 
 
 
 
 
 
 
 
756,416
 
 
106,183,643
OPTION PURCHASED – PUTS(b)(c) – 1.8%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 1.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
602.49
 
 
1,696
 
 
102,182,304
 
 
1,887,173
Total Options Purchased – Puts
(Cost $4,392,470)
 
 
 
 
 
 
 
 
102,182,304
 
 
1,887,173
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.4%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.4%
 
 
 
 
 
 
 
 
 
 
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$476,027
 
 
476,027
Total Short-Term Investments
(Cost $476,027)
 
 
 
 
 
 
 
 
 
 
476,027
Total Investments – 101.6%
(Cost $105,758,063)
 
 
 
 
 
 
 
 
 
 
108,546,843
Other assets less liabilities – (1.6)%
 
 
 
 
 
 
 
 
 
 
(1,669,923)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$106,876,920
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,696
 
 
$691.73
 
 
November 2025
 
 
$1,264,445
 
 
$117,317,408
 
 
$(383,042)
 
 
 
 
 
 
 
 
$1,264,445
 
 
$117,317,408
 
 
$(383,042)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,696
 
 
$542.30
 
 
November 2025
 
 
$2,277,671
 
 
$91,974,080
 
 
$(779,940)
 
 
 
 
 
 
 
 
$2,277,671
 
 
$91,974,080
 
 
$(779,940)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$3,542,116
 
 
$209,291,488
 
 
$(1,162,982)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
34
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer10 Dec ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
35
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer10 Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer10 Dec ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$106,183,643
 
 
$—
 
 
$106,183,643
Option Purchased - Puts
 
 
—
 
 
1,887,173
 
 
—
 
 
1,887,173
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
476,027
 
 
—
 
 
—
 
 
476,027
Total Assets
 
 
$476,027
 
 
$108,070,816
 
 
$—
 
 
$108,546,843
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(383,042)
 
 
$—
 
 
$(383,042)
Put Options Written
 
 
—
 
 
(779,940)
 
 
—
 
 
(779,940)
Total Liabilities
 
 
$—
 
 
$(1,162,982)
 
 
$—
 
 
$(1,162,982)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
36
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jan ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 101.7%
Options on ETF – 101.7%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
$4.40
 
 
8,028
 
 
$3,532,320
 
 
$501,316,488
Total Options Purchased – Calls
(Cost $462,589,721)
 
 
 
 
 
 
 
 
3,532,320
 
 
501,316,488
OPTION PURCHASED – PUTS(b)(c) – 1.8%
Options on ETF – 1.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
586.14
 
 
8,028
 
 
470,553,192
 
 
8,806,716
Total Options Purchased – Puts
(Cost $23,384,139)
 
 
 
 
 
 
 
 
470,553,192
 
 
8,806,716
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.3%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.3%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$1,495,584
 
 
1,495,584
Total Short-Term Investments
(Cost $1,495,584)
 
 
 
 
 
 
 
 
 
 
1,495,584
Total Investments – 103.8%
(Cost $487,469,444)
 
 
 
 
 
 
 
 
 
 
511,618,788
Other assets less liabilities – (3.8)%
 
 
 
 
 
 
 
 
 
 
(18,719,327)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$492,899,461
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
8,028
 
 
$649.38
 
 
December 2025
 
 
$11,469,179
 
 
$521,322,264
 
 
$(14,996,304)
 
 
 
 
 
 
 
 
$11,469,179
 
 
$521,322,264
 
 
$(14,996,304)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
8,028
 
 
$468.86
 
 
December 2025
 
 
$6,636,268
 
 
$376,400,808
 
 
$(2,095,308)
 
 
 
 
 
 
 
 
$6,636,268
 
 
$376,400,808
 
 
$(2,095,308)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$18,105,447
 
 
$897,723,072
 
 
$(17,091,612)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
37
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jan ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Jan ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
38
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jan ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Jan ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$501,316,488
 
 
$—
 
 
$—
 
 
$501,316,488
Option Purchased - Puts
 
 
8,806,716
 
 
—
 
 
—
 
 
8,806,716
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
1,495,584
 
 
—
 
 
—
 
 
1,495,584
Total Assets
 
 
$511,618,788
 
 
$—
 
 
$—
 
 
$511,618,788
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$(14,996,304)
 
 
$—
 
 
$—
 
 
$(14,996,304)
Put Options Written
 
 
(2,095,308)
 
 
—
 
 
—
 
 
(2,095,308)
Total Liabilities
 
 
$(17,091,612)
 
 
$—
 
 
$—
 
 
$(17,091,612)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
39
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Feb ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.5%
Options on ETF – 100.5%
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
$4.51
 
 
1,717
 
 
$774,367
 
 
$107,288,668
Total Options Purchased – Calls
(Cost $101,523,442)
 
 
 
 
 
 
 
 
774,367
 
 
107,288,668
OPTION PURCHASED – PUTS(b)(c) – 2.5%
Options on ETF – 2.5%
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
601.88
 
 
1,717
 
 
103,342,796
 
 
2,618,442
Total Options Purchased – Puts
(Cost $4,979,956)
 
 
 
 
 
 
 
 
103,342,796
 
 
2,618,442
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.3%
Time Deposits – 0.3%
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$317,987
 
 
317,987
Total Short-Term Investments
(Cost $317,987)
 
 
 
 
 
 
 
 
 
 
317,987
Total Investments – 103.3%
(Cost $106,821,385)
 
 
 
 
 
 
 
 
 
 
110,225,097
Other assets less liabilities – (3.3)%
 
 
 
 
 
 
 
 
 
 
(3,474,225)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 106,750,872
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,717
 
 
$665.37
 
 
January 2026
 
 
$ 2,460,409
 
 
$114,244,029
 
 
$(2,474,145)
 
 
 
 
 
 
 
 
$ 2,460,409
 
 
$114,244,029
 
 
$(2,474,145)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,717
 
 
$481.46
 
 
January 2026
 
 
$ 1,385,528
 
 
$82,666,682
 
 
$(636,990)
 
 
 
 
 
 
 
 
$ 1,385,528
 
 
$82,666,682
 
 
$(636,990)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 3,845,937
 
 
$196,910,711
 
 
$(3,111,135)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
40
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Feb ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Feb ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
41
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Feb ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Feb ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$107,288,668
 
 
$—
 
 
$107,288,668
Option Purchased - Puts
 
 
—
 
 
2,618,442
 
 
—
 
 
2,618,442
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
317,987
 
 
—
 
 
—
 
 
317,987
Total Assets
 
 
$ 317,987
 
 
$109,907,110
 
 
$—
 
 
$110,225,097
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(2,474,145)
 
 
$—
 
 
$(2,474,145)
Put Options Written
 
 
—
 
 
(636,990)
 
 
—
 
 
(636,990)
Total Liabilities
 
 
$—
 
 
$(3,111,135)
 
 
$—
 
 
$(3,111,135)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
42
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Mar ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 101.8%
Options on ETF – 101.8%
SPDR S&P 500 ETF Trust
 
 
February 2026
 
 
$4.46
 
 
1,392
 
 
$620,832
 
 
$87,027,088
Total Options Purchased – Calls
(Cost $80,202,669)
 
 
 
 
 
 
 
 
620,832
 
 
87,027,088
OPTION PURCHASED – PUTS(b)(c) – 2.5%
Options on ETF – 2.5%
SPDR S&P 500 ETF Trust
 
 
February 2026
 
 
594.24
 
 
1,392
 
 
82,718,208
 
 
2,127,714
Total Options Purchased – Puts
(Cost $4,808,006)
 
 
 
 
 
 
 
 
82,718,208
 
 
2,127,714
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
Time Deposits – 0.2%
JP Morgan Chase & Co.,
New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$197,389
 
 
197,389
Total Short-Term Investments
(Cost $197,389)
 
 
 
 
 
 
 
 
 
 
197,389
Total Investments – 104.5%
(Cost $85,208,064)
 
 
 
 
 
 
 
 
 
 
89,352,191
Other assets less liabilities – (4.5)%
 
 
 
 
 
 
 
 
 
 
(3,818,884)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 85,533,307
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,392
 
 
$657.52
 
 
February 2026
 
 
$ 1,904,033
 
 
$91,526,784
 
 
$(2,999,496)
 
 
 
 
 
 
 
 
$ 1,904,033
 
 
$91,526,784
 
 
$(2,999,496)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,392
 
 
$475.34
 
 
February 2026
 
 
$ 1,395,679
 
 
$66,167,328
 
 
$(571,736)
 
 
 
 
 
 
 
 
$ 1,395,679
 
 
$66,167,328
 
 
$(571,736)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 3,299,712
 
 
$157,694,112
 
 
$(3,571,232)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
43
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Mar ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Mar ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
44
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Mar ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Mar ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$87,027,088
 
 
$—
 
 
$87,027,088
Option Purchased - Puts
 
 
—
 
 
2,127,714
 
 
—
 
 
2,127,714
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
197,389
 
 
—
 
 
—
 
 
197,389
Total Assets
 
 
$197,389
 
 
$89,154,802
 
 
$—
 
 
$89,352,191
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(2,999,496)
 
 
$—
 
 
$(2,999,496)
Put Options Written
 
 
—
 
 
(571,736)
 
 
—
 
 
(571,736)
Total Liabilities
 
 
$—
 
 
$(3,571,232)
 
 
$—
 
 
$(3,571,232)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
45
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Apr ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
 
OPTION PURCHASED – CALLS(b)(c) – 107.0%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 107.0%
 
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
March 2026
 
 
$4.20
 
 
2,960
 
 
$1,243,200
 
 
$184,675,170
 
Total Options Purchased – Calls
(Cost $162,323,966)
 
 
 
 
 
 
 
 
1,243,200
 
 
184,675,170
 
OPTION PURCHASED – PUTS(b)(c) – 2.0%
 
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.0%
 
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
March 2026
 
 
559.45
 
 
2,960
 
 
165,597,200
 
 
3,526,218
 
Total Options Purchased – Puts
(Cost $9,939,769)
 
 
 
 
 
 
 
 
165,597,200
 
 
3,526,218
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.2%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$285,574
 
 
285,574
Total Short-Term Investments
(Cost $285,574)
 
 
 
 
 
 
 
 
 
 
285,574
Total Investments – 109.2%
(Cost $172,549,309)
 
 
 
 
 
 
 
 
 
 
188,486,962
Other assets less liabilities – (9.2)%
 
 
 
 
 
 
 
 
 
 
(15,815,706)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 172,671,256
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
   
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
2,960
 
 
$620.53
 
 
March 2026
 
 
$ 4,847,070
 
 
$183,676,880
 
 
$(14,269,390)
 
 
 
 
 
 
 
 
$ 4,847,070
 
 
$183,676,880
 
 
$(14,269,390)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
2,960
 
 
$447.51
 
 
March 2026
 
 
$ 2,742,970
 
 
$132,462,960
 
 
$(1,117,903)
 
 
 
 
 
 
 
 
$ 2,742,970
 
 
$132,462,960
 
 
$(1,117,903)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 7,590,040
 
 
$316,139,840
 
 
$(15,387,293)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
46
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Apr ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Apr ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
47
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Apr ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Apr ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$184,675,170
 
 
$—
 
 
$184,675,170
Option Purchased - Puts
 
 
—
 
 
3,526,218
 
 
—
 
 
3,526,218
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
285,574
 
 
—
 
 
—
 
 
285,574
Total Assets
 
 
$285,574
 
 
$188,201,388
 
 
$—
 
 
$188,486,962
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(14,269,390)
 
 
$—
 
 
$(14,269,390)
Put Options Written
 
 
—
 
 
(1,117,903)
 
 
—
 
 
(1,117,903)
Total Liabilities
 
 
$—
 
 
$(15,387,293)
 
 
$—
 
 
$(15,387,293)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
48
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 May ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
 
OPTION PURCHASED – CALLS(b)(c) – 107.6%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 107.6%
 
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
April 2026
 
 
$4.16
 
 
1,326
 
 
$551,616
 
 
$82,770,007
 
Total Options Purchased – Calls
(Cost $72,448,940)
 
 
 
 
 
 
 
 
551,616
 
 
82,770,007
 
OPTION PURCHASED – PUTS(b)(c) – 2.1%
 
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.1%
 
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
April 2026
 
 
554.60
 
 
1,326
 
 
73,539,960
 
 
1,641,442
 
Total Options Purchased – Puts
(Cost $4,938,666)
 
 
 
 
 
 
 
 
73,539,960
 
 
1,641,442
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.1%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.1%
 
 
 
 
 
 
 
 
 
 
Skandinaviska Enskilda Banken AB,
Stockholm, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$52,863
 
 
52,863
Total Short-Term Investments
(Cost $52,863)
 
 
 
 
 
 
 
 
 
 
52,863
Total Investments – 109.8%
(Cost $77,440,469)
 
 
 
 
 
 
 
 
 
 
84,464,312
Other assets less liabilities – (9.8)%
 
 
 
 
 
 
 
 
 
 
(7,517,404)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 76,946,908
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,326
 
 
$621.08
 
 
April 2026
 
 
$ 2,662,379
 
 
$82,355,208
 
 
$(6,833,276)
 
 
 
 
 
 
 
 
$ 2,662,379
 
 
$82,355,208
 
 
$(6,833,276)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,326
 
 
$443.63
 
 
April 2026
 
 
$ 1,601,083
 
 
$58,825,338
 
 
$(543,819)
 
 
 
 
 
 
 
 
$ 1,601,083
 
 
$58,825,338
 
 
$(543,819)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 4,263,462
 
 
$141,180,546
 
 
$(7,377,095)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
49
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 May ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 May ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
50
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 May ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 May ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$82,770,007
 
 
$—
 
 
$82,770,007
Option Purchased - Puts
 
 
—
 
 
1,641,442
 
 
—
 
 
1,641,442
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
52,863
 
 
—
 
 
—
 
 
52,863
Total Assets
 
 
$52,863
 
 
$84,411,449
 
 
$—
 
 
$84,464,312
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(6,833,276)
 
 
$—
 
 
$(6,833,276)
Put Options Written
 
 
—
 
 
(543,819)
 
 
—
 
 
(543,819)
Total Liabilities
 
 
$—
 
 
$(7,377,095)
 
 
$—
 
 
$(7,377,095)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
51
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jun ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
 
OPTION PURCHASED – CALLS(b)(c) – 103.5%
 
 
Options on ETF – 103.5%
 
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
May 2026
 
 
$4.42
 
 
1,066
 
 
$471,172
 
 
$66,557,736
 
Total Options Purchased – Calls
(Cost $62,016,044)
 
 
 
 
 
 
 
 
471,172
 
 
66,557,736
 
OPTION PURCHASED – PUTS(b)(c) – 3.1%
 
 
 
 
 
 
 
 
 
 
 
Options on ETF – 3.1%
 
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
May 2026
 
 
589.45
 
 
1,066
 
 
62,835,370
 
 
1,997,076
 
Total Options Purchased – Puts
(Cost $3,488,655)
 
 
 
 
 
 
 
 
62,835,370
 
 
1,997,076
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
 
 
 
 
 
 
Skandinaviska Enskilda Banken AB,
Stockholm, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$17,238
 
 
17,238
Total Short-Term Investments
(Cost $17,238)
 
 
 
 
 
 
 
 
 
 
17,238
Total Investments – 106.6%
(Cost $65,521,937)
 
 
 
 
 
 
 
 
 
 
68,572,050
Other assets less liabilities – (6.6)%
 
 
 
 
 
 
 
 
 
 
(4,245,566)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$64,326,484
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,066
 
 
$654.41
 
 
May 2026
 
 
$1,964,523
 
 
$69,760,106
 
 
$(3,539,685)
 
 
 
 
 
 
 
 
$1,964,523
 
 
$69,760,106
 
 
$(3,539,685)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,066
 
 
$471.51
 
 
May 2026
 
 
$1,087,038
 
 
$50,262,966
 
 
$(628,087)
 
 
 
 
 
 
 
 
$1,087,038
 
 
$50,262,966
 
 
$(628,087)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$3,051,561
 
 
$120,023,072
 
 
$(4,167,772)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
52
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jun ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Jun ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
53
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jun ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Jun ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$66,557,736
 
 
$—
 
 
$66,557,736
Option Purchased - Puts
 
 
—
 
 
1,997,076
 
 
—
 
 
1,997,076
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
17,238
 
 
—
 
 
—
 
 
17,238
Total Assets
 
 
$17,238
 
 
$68,554,812
 
 
$—
 
 
$68,572,050
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(3,539,685)
 
 
$—
 
 
$(3,539,685)
Put Options Written
 
 
—
 
 
(628,087)
 
 
—
 
 
(628,087)
Total Liabilities
 
 
$—
 
 
$(4,167,772)
 
 
$—
 
 
$(4,167,772)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
54
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jul ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.4%
Options on ETF – 100.4%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
June 2026
 
 
$4.63
 
 
5,446
 
 
$2,521,498
 
 
$ 339,022,758
Total Options Purchased - Calls
(Cost $332,163,299)
 
 
 
 
 
 
 
 
2,521,498
 
 
339,022,758
OPTION PURCHASED – PUTS(b)(c) – 4.3%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 4.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
June 2026
 
 
617.91
 
 
5,446
 
 
336,513,786
 
 
14,462,343
Total Options Purchased – Puts
(Cost $17,470,411)
 
 
 
 
 
 
 
 
336,513,786
 
 
14,462,343
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.1%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.1%
 
 
 
 
 
 
 
 
 
 
Sumitomo Corporation,
Tokyo, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$188,856
 
 
188,856
Total Short-Term Investments
(Cost $188,856)
 
 
 
 
 
 
 
 
 
 
188,856
Total Investments – 104.8%
(Cost $349,822,566)
 
 
 
 
 
 
 
 
 
 
353,673,957
Other assets less liabilities – (4.8)%
 
 
 
 
 
 
 
 
 
 
(16,060,390)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 337,613,567
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
5,446
 
 
$ 683.22
 
 
June 2026
 
 
$9,609,484
 
 
$ 372,081,612
 
 
$ (11,383,502)
 
 
 
 
 
 
 
 
$9,609,484
 
 
$ 372,081,612
 
 
$ (11,383,502)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
5,446
 
 
$ 494.28
 
 
June 2026
 
 
$5,387,679
 
 
$ 269,184,888
 
 
$(4,501,065)
 
 
 
 
 
 
 
 
$5,387,679
 
 
$ 269,184,888
 
 
$(4,501,065)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 14,997,163
 
 
$ 641,266,500
 
 
$ (15,884,567)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
55
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Jul ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
56
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Jul ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$ 339,022,758
 
 
$—
 
 
$ 339,022,758
Option Purchased - Puts
 
 
—
 
 
14,462,343
 
 
—
 
 
14,462,343
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
188,856
 
 
—
 
 
—
 
 
188,856
Total Assets
 
 
$188,856
 
 
$ 353,485,101
 
 
$—
 
 
$ 353,673,957
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(11,383,502)
 
 
$—
 
 
$(11,383,502)
Put Options Written
 
 
—
 
 
(4,501,065)
 
 
—
 
 
(4,501,065)
Total Liabilities
 
 
$—
 
 
$(15,884,567)
 
 
$—
 
 
$(15,884,567)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
57
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Aug ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.2%
Options on ETF – 99.2%
SPDR S&P 500 ETF Trust
 
 
July 2026
 
 
$4.74
 
 
1,885
 
 
$893,490
 
 
$117,356,330
Total Options Purchased – Calls
(Cost $117,363,588)
 
 
 
 
 
 
 
 
893,490
 
 
117,356,330
OPTION PURCHASED – PUTS(b)(c) – 5.0%
Options on ETF – 5.0%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
July 2026
 
 
632.14
 
 
1,885
 
 
119,158,390
 
 
5,933,980
Total Options Purchased – Puts
(Cost $5,941,237)
 
 
 
 
 
 
 
 
119,158,390
 
 
5,933,980
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.2%
Time Deposits – 1.2%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$1,358,873
 
 
1,358,873
Total Short-Term Investments
(Cost $1,358,873)
 
 
 
 
 
 
 
 
 
 
1,358,873
Total Investments – 105.4%
(Cost $124,663,698)
 
 
 
 
 
 
 
 
 
 
124,649,183
Other assets less liabilities – (5.4)%
 
 
 
 
 
 
 
 
 
 
(6,343,308)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$118,305,875
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,885
 
 
$700.16
 
 
July 2026
 
 
$ 3,197,243
 
 
$131,980,160
 
 
$(3,204,500)
 
 
 
 
 
 
 
 
$ 3,197,243
 
 
$131,980,160
 
 
$(3,204,500)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,885
 
 
$505.66
 
 
July 2026
 
 
$ 1,830,618
 
 
$95,316,910
 
 
$(1,837,875)
 
 
 
 
 
 
 
 
$ 1,830,618
 
 
$95,316,910
 
 
$(1,837,875)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 5,027,861
 
 
$227,297,070
 
 
$(5,042,375)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
58
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Aug ETF’s (the “Fund”) investments are valued daily at market or, in the absence of
market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
59
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Aug ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$117,356,330
 
 
$—
 
 
$—
 
 
$117,356,330
Option Purchased - Puts
 
 
5,933,980
 
 
—
 
 
—
 
 
5,933,980
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
1,358,873
 
 
—
 
 
—
 
 
1,358,873
Total Assets
 
 
$ 124,649,183
 
 
$—
 
 
$—
 
 
$124,649,183
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$(3,204,500)
 
 
$—
 
 
$—
 
 
$(3,204,500)
Put Options Written
 
 
(1,837,875)
 
 
—
 
 
—
 
 
(1,837,875)
Total Liabilities
 
 
$(5,042,375)
 
 
$—
 
 
$—
 
 
$(5,042,375)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
60
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Sep ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 102.7%
Options on ETF – 102.7%
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
$4.23
 
 
1,063
 
 
$449,649
 
 
$66,745,728
Total Options Purchased – Calls
(Cost $59,796,873)
 
 
 
 
 
 
 
 
449,649
 
 
66,745,728
OPTION PURCHASED – PUTS(b)(c) – 0.1%
Options on ETF – 0.1%
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
563.74
 
 
1,063
 
 
59,925,562
 
 
93,246
Total Options Purchased – Puts
(Cost $3,320,580)
 
 
 
 
 
 
 
 
59,925,562
 
 
93,246
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.4%
Time Deposits – 1.4%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$878,445
 
 
878,445
Total Short-Term Investments
(Cost $878,445)
 
 
 
 
 
 
 
 
 
 
878,445
Total Investments – 104.2%
(Cost $63,995,898)
 
 
 
 
 
 
 
 
 
 
67,717,419
Other assets less liabilities – (4.2)%
 
 
 
 
 
 
 
 
 
 
(2,732,386)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 64,985,033
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,063
 
 
$623.15
 
 
August 2025
 
 
$1,082,692
 
 
$66,240,845
 
 
$(1,818,963)
 
 
 
 
 
 
 
 
$ 1,082,692
 
 
$66,240,845
 
 
$(1,818,963)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,063
 
 
$450.94
 
 
August 2025
 
 
$690,547
 
 
$47,934,922
 
 
$(16,477)
 
 
 
 
 
 
 
 
$690,547
 
 
$47,934,922
 
 
$(16,477)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 1,773,239
 
 
$114,175,767
 
 
$(1,835,440)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
61
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Sep ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
62
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Sep ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$66,745,728
 
 
$—
 
 
$66,745,728
Option Purchased - Puts
 
 
—
 
 
93,246
 
 
—
 
 
93,246
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
878,445
 
 
—
 
 
—
 
 
878,445
Total Assets
 
 
$ 878,445
 
 
$66,838,974
 
 
$—
 
 
$67,717,419
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(1,818,963)
 
 
$—
 
 
$(1,818,963)
Put Options Written
 
 
—
 
 
(16,477)
 
 
—
 
 
(16,477)
Total Liabilities
 
 
$—
 
 
$(1,835,440)
 
 
$—
 
 
$(1,835,440)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
63
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Oct ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 102.2%
Options on ETF – 102.2%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$4.30
 
 
3,764
 
 
$1,618,520
 
 
$235,675,897
Total Options Purchased – Calls
(Cost $217,233,262)
 
 
 
 
 
 
 
 
1,618,520
 
 
235,675,897
OPTION PURCHASED – PUTS(b)(c) – 0.5%
Options on ETF – 0.5%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
573.82
 
 
3,764
 
 
215,985,848
 
 
1,243,136
Total Options Purchased – Puts
(Cost $11,535,442)
 
 
 
 
 
 
 
 
215,985,848
 
 
1,243,136
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.0%
Time Deposits – 1.0%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$2,211,793
 
 
2,211,793
Total Short-Term Investments
(Cost $2,211,793)
 
 
 
 
 
 
 
 
 
 
2,211,793
Total Investments – 103.7%
(Cost $230,980,497)
 
 
 
 
 
 
 
 
 
 
239,130,826
Other assets less liabilities – (3.7)%
 
 
 
 
 
 
 
 
 
 
(8,465,375)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 230,665,451
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
3,764
 
 
$631.82
 
 
September 2025
 
 
$ 5,096,327
 
 
$237,817,048
 
 
$(5,910,910)
 
 
 
 
 
 
 
 
$ 5,096,327
 
 
$237,817,048
 
 
$(5,910,910)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
3,764
 
 
$459.01
 
 
September 2025
 
 
$ 2,463,566
 
 
$172,771,364
 
 
$(219,027)
 
 
 
 
 
 
 
 
$ 2,463,566
 
 
$172,771,364
 
 
$(219,027)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 7,559,893
 
 
$410,588,412
 
 
$(6,129,937)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
64
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Oct ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
65
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Oct ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$235,675,897
 
 
$—
 
 
$235,675,897
Option Purchased - Puts
 
 
—
 
 
1,243,136
 
 
—
 
 
1,243,136
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
2,211,793
 
 
—
 
 
—
 
 
2,211,793
Total Assets
 
 
$2,211,793
 
 
$236,919,033
 
 
$—
 
 
$239,130,826
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(5,910,910)
 
 
$—
 
 
$(5,910,910)
Put Options Written
 
 
—
 
 
(219,027)
 
 
—
 
 
(219,027)
Total Liabilities
 
 
$—
 
 
$(6,129,937)
 
 
$—
 
 
$(6,129,937)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
66
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Nov ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 103.0%
Options on ETF – 103.0%
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
$4.26
 
 
1,193
 
 
$508,218
 
 
$74,709,585
Total Options Purchased – Calls
(Cost $67,384,824)
 
 
 
 
 
 
 
 
508,218
 
 
74,709,585
OPTION PURCHASED – PUTS(b)(c) – 0.8%
Options on ETF – 0.8%
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
568.70
 
 
1,193
 
 
67,845,910
 
 
613,870
Total Options Purchased – Puts
(Cost $3,441,946)
 
 
 
 
 
 
 
 
67,845,910
 
 
613,870
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.4%
Time Deposits – 0.4%
JP Morgan Chase & Co.,
New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$320,784
 
 
320,784
Total Short-Term Investments
(Cost $320,784)
 
 
 
 
 
 
 
 
 
 
320,784
Total Investments – 104.2%
(Cost $71,147,554)
 
 
 
 
 
 
 
 
 
 
75,644,239
Other assets less liabilities – (4.2)%
 
 
 
 
 
 
 
 
 
 
(3,099,297)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 72,544,942
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,193
 
 
$631.25
 
 
October 2025
 
 
$ 1,778,758
 
 
$75,308,125
 
 
$(2,586,376)
 
 
 
 
 
 
 
 
$ 1,778,758
 
 
$75,308,125
 
 
$(2,586,376)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,193
 
 
$454.91
 
 
October 2025
 
 
$966,350
 
 
$54,270,763
 
 
$(135,048)
 
 
 
 
 
 
 
 
$966,350
 
 
$54,270,763
 
 
$(135,048)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 2,745,108
 
 
$129,578,888
 
 
$(2,721,424)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
67
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Nov ETF’s (the “Fund”) investments are valued daily at market or, in the absence of
market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
68
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Nov ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$74,709,585
 
 
$—
 
 
$74,709,585
Option Purchased - Puts
 
 
—
 
 
613,870
 
 
—
 
 
613,870
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
320,784
 
 
—
 
 
—
 
 
320,784
Total Assets
 
 
$ 320,784
 
 
$75,323,455
 
 
$—
 
 
$75,644,239
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(2,586,376)
 
 
$—
 
 
$(2,586,376)
Put Options Written
 
 
—
 
 
(135,048)
 
 
—
 
 
(135,048)
Total Liabilities
 
 
$—
 
 
$(2,721,424)
 
 
$—
 
 
$(2,721,424)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
69
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Dec ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.7%
Options on ETF – 99.7%
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
$4.52
 
 
6,272
 
 
$2,834,944
 
 
$392,642,064
Total Options Purchased – Calls
(Cost $372,874,622)
 
 
 
 
 
 
 
 
2,834,944
 
 
392,642,064
OPTION PURCHASED – PUTS(b)(c) – 1.8%
Options on ETF – 1.8%
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
602.61
 
 
6,272
 
 
377,956,992
 
 
6,991,587
Total Options Purchased – Puts
(Cost $16,316,966)
 
 
 
 
 
 
 
 
377,956,992
 
 
6,991,587
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.4%
Time Deposits – 0.4%
JP Morgan Chase & Co.,
New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$1,712,270
 
 
1,712,270
Total Short-Term Investments
(Cost $1,712,270)
 
 
 
 
 
 
 
 
 
 
1,712,270
Total Investments – 101.9%
(Cost $390,903,858)
 
 
 
 
 
 
 
 
 
 
401,345,921
Other assets less liabilities – (1.9)%
 
 
 
 
 
 
 
 
 
 
(7,599,311)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 393,746,610
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
6,272
 
 
$668.23
 
 
November 2025
 
 
$8,533,551
 
 
$419,113,856
 
 
$(4,442,019)
 
 
 
 
 
 
 
 
$8,533,551
 
 
$419,113,856
 
 
$(4,442,019)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
6,272
 
 
$482.04
 
 
November 2025
 
 
$4,422,859
 
 
$302,335,488
 
 
$(1,338,319)
 
 
 
 
 
 
 
 
$4,422,859
 
 
$302,335,488
 
 
$(1,338,319)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 12,956,410
 
 
$721,449,344
 
 
$(5,780,338)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
70
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap Buffer20 Dec ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
71
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap Buffer20 Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap Buffer20 Dec ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$392,642,064
 
 
$—
 
 
$392,642,064
Option Purchased - Puts
 
 
—
 
 
6,991,587
 
 
—
 
 
6,991,587
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
1,712,270
 
 
—
 
 
—
 
 
1,712,270
Total Assets
 
 
$ 1,712,270
 
 
$399,633,651
 
 
$—
 
 
$401,345,921
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(4,442,019)
 
 
$—
 
 
$(4,442,019)
Put Options Written
 
 
—
 
 
(1,338,319)
 
 
—
 
 
(1,338,319)
Total Liabilities
 
 
$—
 
 
$(5,780,338)
 
 
$—
 
 
$(5,780,338)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
72
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 98.3%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 98.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
$22.80
 
 
1,220
 
 
$2,781,600
 
 
$ 73,971,723
Total Options Purchased – Calls
(Cost $68,759,933)
 
 
 
 
 
 
 
 
2,781,600
 
 
73,971,723
OPTION PURCHASED – PUTS(b)(c) – 2.3%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
604.48
 
 
1,220
 
 
73,746,560
 
 
1,714,966
Total Options Purchased – Puts
(Cost $4,055,492)
 
 
 
 
 
 
 
 
73,746,560
 
 
1,714,966
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.3%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.3%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$259,695
 
 
259,695
Total Short-Term Investments
(Cost $259,695)
 
 
 
 
 
 
 
 
 
 
259,695
Total Investments – 100.9%
(Cost $73,075,120)
 
 
 
 
 
 
 
 
 
 
75,946,384
Other assets less liabilities – (0.9)%
 
 
 
 
 
 
 
 
 
 
(707,998)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 75,238,386
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,220
 
 
$ 498.17
 
 
December 2025
 
 
$ 1,272,934
 
 
$ 60,776,740
 
 
$ (435,869)
 
 
 
 
 
 
 
 
$ 1,272,934
 
 
$ 60,776,740
 
 
$ (435,869)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 1,272,934
 
 
$ 60,776,740
 
 
$ (435,869)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
73
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
74
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$ 73,971,723
 
 
$—
 
 
$ 73,971,723
Option Purchased - Puts
 
 
—
 
 
1,714,966
 
 
—
 
 
1,714,966
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
259,695
 
 
—
 
 
—
 
 
259,695
Total Assets
 
 
$259,695
 
 
$ 75,686,689
 
 
$—
 
 
$ 75,946,384
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(435,869)
 
 
$—
 
 
$(435,869)
Total Liabilities
 
 
$—
 
 
$(435,869)
 
 
$—
 
 
$(435,869)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
75
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 98.0%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 98.0%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
$17.45
 
 
835
 
 
$1,457,075
 
 
$ 51,119,026
Total Options Purchased – Calls
(Cost $47,955,889)
 
 
 
 
 
 
 
 
1,457,075
 
 
51,119,026
OPTION PURCHASED – PUTS(b)(c) – 2.9%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.9%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
614.76
 
 
835
 
 
51,332,460
 
 
1,490,959
Total Options Purchased – Puts
(Cost $3,091,080)
 
 
 
 
 
 
 
 
51,332,460
 
 
1,490,959
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.2%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$115,133
 
 
115,133
Total Short-Term Investments
(Cost $115,133)
 
 
 
 
 
 
 
 
 
 
115,133
Total Investments – 101.1%
(Cost $51,162,102)
 
 
 
 
 
 
 
 
 
 
52,725,118
Other assets less liabilities – (1.1)%
 
 
 
 
 
 
 
 
 
 
(587,833)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 52,137,285
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
835
 
 
$ 511.55
 
 
January 2026
 
 
$ 972,269
 
 
$ 42,714,425
 
 
$ (429,891)
 
 
 
 
 
 
 
 
$ 972,269
 
 
$ 42,714,425
 
 
$ (429,891)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 972,269
 
 
$ 42,714,425
 
 
$ (429,891)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
76
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
77
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$51,119,026
 
 
$—
 
 
$ 51,119,026
Option Purchased - Puts
 
 
—
 
 
1,490,959
 
 
—
 
 
1,490,959
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
115,133
 
 
—
 
 
—
 
 
115,133
Total Assets
 
 
$115,133
 
 
$ 52,609,985
 
 
$—
 
 
$52,725,118
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(429,891)
 
 
$—
 
 
$(429,891)
Total Liabilities
 
 
$—
 
 
$(429,891)
 
 
$—
 
 
$(429,891)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
78
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 97.9%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 97.9%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
February 2026
 
 
$25.91
 
 
328
 
 
$849,848
 
 
$19,820,512
Total Options Purchased – Calls
(Cost $18,258,399)
 
 
 
 
 
 
 
 
849,848
 
 
19,820,512
OPTION PURCHASED – PUTS(b)(c) – 3.2%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 3.2%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
February 2026
 
 
615.63
 
 
328
 
 
20,192,664
 
 
640,466
Total Options Purchased – Puts
(Cost $1,379,730)
 
 
 
 
 
 
 
 
20,192,664
 
 
640,466
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.1%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.1%
 
 
 
 
 
 
 
 
 
 
DBS Bank Ltd.,
Singapore, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$21,431
 
 
21,431
Total Short-Term Investments
(Cost $21,431)
 
 
 
 
 
 
 
 
 
 
21,431
Total Investments – 101.2%
(Cost $19,659,560)
 
 
 
 
 
 
 
 
 
 
20,482,409
Other assets less liabilities – (1.2)%
 
 
 
 
 
 
 
 
 
 
(235,616)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$20,246,793
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
328
 
 
$505.05
 
 
February 2026
 
 
$443,668
 
 
$16,565,640
 
 
$(183,923)
 
 
 
 
 
 
 
 
$443,668
 
 
$16,565,640
 
 
$(183,923)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$443,668
 
 
$16,565,640
 
 
$(183,923)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
79
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
80
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$19,820,512
 
 
$—
 
 
$19,820,512
Option Purchased - Puts
 
 
—
 
 
640,466
 
 
—
 
 
640,466
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
21,431
 
 
—
 
 
—
 
 
21,431
Total Assets
 
 
$21,431
 
 
$20,460,978
 
 
$—
 
 
$20,482,409
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(183,923)
 
 
$—
 
 
$(183,923)
Total Liabilities
 
 
$—
 
 
$(183,923)
 
 
$—
 
 
$(183,923)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
81
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 98.3%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 98.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
March 2026
 
 
$27.41
 
 
719
 
 
$1,970,779
 
 
$43,238,036
Total Options Purchased – Calls
(Cost $38,129,184)
 
 
 
 
 
 
 
 
1,970,779
 
 
43,238,036
OPTION PURCHASED – PUTS(b)(c) – 2.5%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 2.5%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
March 2026
 
 
582.60
 
 
719
 
 
41,888,940
 
 
1,094,512
Total Options Purchased – Puts
(Cost $2,835,407)
 
 
 
 
 
 
 
 
41,888,940
 
 
1,094,512
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.2%
 
 
 
 
 
 
 
 
 
 
Skandinaviska Enskilda Banken AB,
Stockholm, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$67,690
 
 
67,690
Total Short-Term Investments
(Cost $67,690)
 
 
 
 
 
 
 
 
 
 
67,690
Total Investments – 101.0%
(Cost $41,032,281)
 
 
 
 
 
 
 
 
 
 
44,400,238
Other assets less liabilities – (1.0)%
 
 
 
 
 
 
 
 
 
 
(454,127)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$43,946,111
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
719
 
 
$475.48
 
 
March 2026
 
 
$ 899,035
 
 
$34,187,012
 
 
$(354,043)
 
 
 
 
 
 
 
 
$ 899,035
 
 
$34,187,012
 
 
$(354,043)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 899,035
 
 
$34,187,012
 
 
$(354,043)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
82
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
83
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$43,238,036
 
 
$—
 
 
$43,238,036
Option Purchased - Puts
 
 
—
 
 
1,094,512
 
 
—
 
 
1,094,512
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
67,690
 
 
—
 
 
—
 
 
67,690
Total Assets
 
 
$67,690
 
 
$44,332,548
 
 
$—
 
 
$44,400,238
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(354,043)
 
 
$—
 
 
$(354,043)
Total Liabilities
 
 
$—
 
 
$(354,043)
 
 
$—
 
 
$(354,043)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
84
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped May ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 98.2%
Options on ETF – 98.2%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
April 2026
 
 
$  31.28
 
 
387
 
 
$1,210,536
 
 
$23,141,300
Total Options Purchased – Calls
(Cost $20,236,310)
 
 
 
 
 
 
 
 
1,210,536
 
 
23,141,300
OPTION PURCHASED – PUTS(b)(c) – 2.7%
Options on ETF – 2.7%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
April 2026
 
 
581.66
 
 
387
 
 
22,510,242
 
 
629,796
Total Options Purchased – Puts
(Cost $1,792,022)
 
 
 
 
 
 
 
 
22,510,242
 
 
629,796
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.2%
Time Deposits – 0.2%
 
 
 
 
 
 
 
 
 
 
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$37,862
 
 
37,862
Total Short-Term Investments
(Cost $37,862)
 
 
 
 
 
 
 
 
 
 
37,862
Total Investments – 101.1%
(Cost $22,066,194)
 
 
 
 
 
 
 
 
 
 
23,808,958
Other assets less liabilities – (1.1)%
 
 
 
 
 
 
 
 
 
 
(246,265)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$23,562,693
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
387
 
 
$471.36
 
 
April 2026
 
 
$613,468
 
 
$18,241,632
 
 
$(205,749)
 
 
 
 
 
 
 
 
$613,468
 
 
$18,241,632
 
 
$(205,749)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$613,468
 
 
$18,241,632
 
 
$(205,749)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
85
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped May ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped May ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
86
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped May ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped May ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$23,141,300
 
 
$   —
 
 
$23,141,300
Option Purchased - Puts
 
 
—
 
 
629,796
 
 
—
 
 
629,796
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
37,862
 
 
—
 
 
—
 
 
37,862
Total Assets
 
 
$37,862
 
 
$23,771,096
 
 
$—
 
 
$23,808,958
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(205,749)
 
 
$—
 
 
$(205,749)
Total Liabilities
 
 
$—
 
 
$(205,749)
 
 
$—
 
 
$(205,749)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
87
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 97.6%
Options on ETF – 97.6%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
May 2026
 
 
$  27.70
 
 
335
 
 
$927,950
 
 
$20,164,172
Total Options Purchased – Calls
(Cost $18,773,051)
 
 
 
 
 
 
 
 
927,950
 
 
20,164,172
OPTION PURCHASED – PUTS(b)(c) – 3.8%
Options on ETF – 3.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
May 2026
 
 
612.67
 
 
335
 
 
20,524,445
 
 
785,947
Total Options Purchased – Puts
(Cost $1,357,642)
 
 
 
 
 
 
 
 
20,524,445
 
 
785,947
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
 
 
 
 
 
 
Skandinaviska Enskilda Banken AB, Stockholm, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$4,431
 
 
4,431
Total Short-Term Investments
(Cost $4,431)
 
 
 
 
 
 
 
 
 
 
4,431
Total Investments – 101.4%
(Cost $20,135,124)
 
 
 
 
 
 
 
 
 
 
20,954,550
Other assets less liabilities – (1.4)%
 
 
 
 
 
 
 
 
 
 
(287,083)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$20,667,467
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
335
 
 
$500.98
 
 
May 2026
 
 
$473,633
 
 
$16,782,830
 
 
$(263,350)
 
 
 
 
 
 
 
 
$473,633
 
 
$16,782,830
 
 
$(263,350)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$473,633
 
 
$16,782,830
 
 
$(263,350)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
88
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
89
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$20,164,172
 
 
$   —
 
 
$20,164,172
Option Purchased - Puts
 
 
—
 
 
785,947
 
 
—
 
 
785,947
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
4,431
 
 
—
 
 
—
 
 
4,431
Total Assets
 
 
$4,431
 
 
$20,950,119
 
 
$—
 
 
$20,954,550
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(263,350)
 
 
$—
 
 
$(263,350)
Total Liabilities
 
 
$—
 
 
$(263,350)
 
 
$—
 
 
$(263,350)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
90
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 96.5%
Options on ETF – 96.5%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
June 2026
 
 
$27.06
 
 
762
 
 
$2,061,972
 
 
$45,793,030
Total Options Purchased – Calls
(Cost $44,714,555)
 
 
 
 
 
 
 
 
2,061,972
 
 
45,793,030
OPTION PURCHASED – PUTS(b)(c) – 5.3%
Options on ETF – 5.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
June 2026
 
 
640.28
 
 
762
 
 
48,789,336
 
 
2,498,362
Total Options Purchased – Puts
(Cost $3,069,984)
 
 
 
 
 
 
 
 
48,789,336
 
 
2,498,362
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.1%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.1%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$45,727
 
 
45,727
Total Short-Term Investments
(Cost $45,727)
 
 
 
 
 
 
 
 
 
 
45,727
Total Investments – 101.9%
(Cost $47,830,266)
 
 
 
 
 
 
 
 
 
 
48,337,119
Other assets less liabilities – (1.9)%
 
 
 
 
 
 
 
 
 
 
(887,369)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$47,449,750
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
762
 
 
$525.17
 
 
June 2026
 
 
$1,044,186
 
 
$40,017,954
 
 
$(848,678)
 
 
 
 
 
 
 
 
$1,044,186
 
 
$40,017,954
 
 
$(848,678)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,044,186
 
 
$40,017,954
 
 
$(848,678)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
91
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
92
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$45,793,030
 
 
$   —
 
 
$45,793,030
Option Purchased - Puts
 
 
—
 
 
2,498,362
 
 
—
 
 
2,498,362
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
45,727
 
 
—
 
 
—
 
 
45,727
Total Assets
 
 
$45,727
 
 
$48,291,392
 
 
$—
 
 
$48,337,119
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(848,678)
 
 
$—
 
 
$(848,678)
Total Liabilities
 
 
$—
 
 
$(848,678)
 
 
$—
 
 
$(848,678)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
93
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 96.0%
Options on ETF – 96.0%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
July 2026
 
 
$25.60
 
 
486
 
 
$1,244,160
 
 
$29,264,976
Total Options Purchased – Calls
(Cost $29,266,847)
 
 
 
 
 
 
 
 
1,244,160
 
 
29,264,976
OPTION PURCHASED – PUTS(b)(c) – 6.2%
Options on ETF – 6.2%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
July 2026
 
 
652.94
 
 
486
 
 
31,732,884
 
 
1,874,988
Total Options Purchased – Puts
(Cost $1,876,859)
 
 
 
 
 
 
 
 
31,732,884
 
 
1,874,988
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.5%
Time Deposits – 0.5%
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$147,796
 
 
147,796
Total Short-Term Investments
(Cost $147,796)
 
 
 
 
 
 
 
 
 
 
147,796
Total Investments – 102.7%
(Cost $31,291,502)
 
 
 
 
 
 
 
 
 
 
31,287,760
Other assets less liabilities – (2.7)%
 
 
 
 
 
 
 
 
 
 
(810,440)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$30,477,320
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
486
 
 
$537.27
 
 
July 2026
 
 
$649,855
 
 
$26,111,322
 
 
$(651,726)
 
 
 
 
 
 
 
 
$649,855
 
 
$26,111,322
 
 
$(651,726)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$649,855
 
 
$26,111,322
 
 
$(651,726)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
94
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
95
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$29,264,976
 
 
$   —
 
 
$   —
 
 
$29,264,976
Option Purchased - Puts
 
 
1,874,988
 
 
—
 
 
—
 
 
1,874,988
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
147,796
 
 
—
 
 
—
 
 
147,796
Total Assets
 
 
$31,287,760
 
 
$—
 
 
$—
 
 
$31,287,760
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$(651,726)
 
 
$—
 
 
$—
 
 
$(651,726)
Total Liabilities
 
 
$(651,726)
 
 
$—
 
 
$—
 
 
$(651,726)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
96
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.8%
Options on ETF – 99.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
$21.42
 
 
444
 
 
$951,048
 
 
$27,118,649
Total Options Purchased – Calls
(Cost $24,042,540)
 
 
 
 
 
 
 
 
951,048
 
 
27,118,649
OPTION PURCHASED – PUTS(b)(c) – 0.2%
Options on ETF – 0.2%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
580.87
 
 
444
 
 
25,790,628
 
 
61,117
Total Options Purchased – Puts
(Cost $1,442,284)
 
 
 
 
 
 
 
 
25,790,628
 
 
61,117
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.6%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.6%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$155,646
 
 
155,646
Total Short-Term Investments
(Cost $155,646)
 
 
 
 
 
 
 
 
 
 
155,646
Total Investments – 100.6%
(Cost $25,640,470)
 
 
 
 
 
 
 
 
 
 
27,335,412
Other assets less liabilities – (0.6)%
 
 
 
 
 
 
 
 
 
 
(163,317)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$27,172,095
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
444
 
 
$479.13
 
 
August 2025
 
 
$430,613
 
 
$21,273,372
 
 
$(10,532)
 
 
 
 
 
 
 
 
$430,613
 
 
$21,273,372
 
 
$(10,532)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$430,613
 
 
$21,273,372
 
 
$(10,532)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
97
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
98
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$27,118,649
 
 
$   —
 
 
$27,118,649
Option Purchased - Puts
 
 
—
 
 
61,117
 
 
—
 
 
61,117
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
155,646
 
 
—
 
 
—
 
 
155,646
Total Assets
 
 
$155,646
 
 
$27,179,766
 
 
$—
 
 
$27,335,412
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(10,532)
 
 
$—
 
 
$(10,532)
Total Liabilities
 
 
$—
 
 
$(10,532)
 
 
$—
 
 
$(10,532)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
99
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.3%
Options on ETF – 99.3%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$23.98
 
 
862
 
 
$2,067,076
 
 
$52,290,067
Total Options Purchased – Calls
(Cost $48,270,306)
 
 
 
 
 
 
 
 
2,067,076
 
 
52,290,067
OPTION PURCHASED – PUTS(b)(c) – 0.8%
Options on ETF – 0.8%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
593.44
 
 
862
 
 
51,154,528
 
 
435,327
Total Options Purchased – Puts
(Cost $2,696,031)
 
 
 
 
 
 
 
 
51,154,528
 
 
435,327
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.4%
Time Deposits – 0.4%
Sumitomo Corporation,
Tokyo, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$222,888
 
 
222,888
Total Short-Term Investments
(Cost $222,888)
 
 
 
 
 
 
 
 
 
 
222,888
Total Investments – 100.5%
(Cost $51,189,225)
 
 
 
 
 
 
 
 
 
 
52,948,282
Other assets less liabilities – (0.5)%
 
 
 
 
 
 
 
 
 
 
(283,764)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$52,664,518
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
862
 
 
$487.70
 
 
September 2025
 
 
$569,562
 
 
$42,039,740
 
 
$(69,374)
 
 
 
 
 
 
 
 
$569,562
 
 
$42,039,740
 
 
$(69,374)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$569,562
 
 
$42,039,740
 
 
$(69,374)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
100
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
101
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$52,290,067
 
 
$   —
 
 
$52,290,067
Option Purchased - Puts
 
 
—
 
 
435,327
 
 
—
 
 
435,327
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
222,888
 
 
—
 
 
—
 
 
222,888
Total Assets
 
 
$222,888
 
 
$52,725,394
 
 
$—
 
 
$52,948,282
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(69,374)
 
 
$—
 
 
$(69,374)
Total Liabilities
 
 
$—
 
 
$(69,374)
 
 
$—
 
 
$(69,374)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
102
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.1%
Options on ETF – 99.1%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
$23.60
 
 
463
 
 
$1,092,680
 
 
$28,109,193
Total Options Purchased – Calls
(Cost $26,506,682)
 
 
 
 
 
 
 
 
1,092,680
 
 
28,109,193
OPTION PURCHASED – PUTS(b)(c) – 1.2%
Options on ETF – 1.2%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
587.97
 
 
463
 
 
27,223,011
 
 
329,077
Total Options Purchased – Puts
(Cost $1,271,254)
 
 
 
 
 
 
 
 
27,223,011
 
 
329,077
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.4%
Time Deposits – 0.4%
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$99,552
 
 
99,552
Total Short-Term Investments
(Cost $99,552)
 
 
 
 
 
 
 
 
 
 
99,552
Total Investments – 100.7%
(Cost $27,877,488)
 
 
 
 
 
 
 
 
 
 
28,537,822
Other assets less liabilities – (0.7)%
 
 
 
 
 
 
 
 
 
 
(193,858)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$28,343,964
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
463
 
 
$483.34
 
 
October 2025
 
 
$252,375
 
 
$22,378,642
 
 
$(70,334)
 
 
 
 
 
 
 
 
$252,375
 
 
$22,378,642
 
 
$(70,334)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$252,375
 
 
$22,378,642
 
 
$(70,334)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
103
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
104
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$28,109,193
 
 
$   —
 
 
$28,109,193
Option Purchased - Puts
 
 
—
 
 
329,077
 
 
—
 
 
329,077
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
99,552
 
 
—
 
 
—
 
 
99,552
Total Assets
 
 
$99,552
 
 
$28,438,270
 
 
$—
 
 
$28,537,822
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(70,334)
 
 
$—
 
 
$(70,334)
Total Liabilities
 
 
$—
 
 
$(70,334)
 
 
$—
 
 
$(70,334)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
105
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 98.1%
Options on ETF – 98.1%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
$23.32
 
 
4,226
 
 
$9,855,032
 
 
$256,728,359
Total Options Purchased – Calls
(Cost $252,198,095)
 
 
 
 
 
 
 
 
9,855,032
 
 
256,728,359
OPTION PURCHASED – PUTS(b)(c) – 2.4%
Options on ETF – 2.4%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
621.35
 
 
4,226
 
 
262,582,510
 
 
6,299,233
Total Options Purchased – Puts
(Cost $8,881,801)
 
 
 
 
 
 
 
 
262,582,510
 
 
6,299,233
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.1%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.1%
 
 
 
 
 
 
 
 
 
 
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$139,004
 
 
139,004
Total Short-Term Investments
(Cost $139,004)
 
 
 
 
 
 
 
 
 
 
139,004
Total Investments – 100.6%
(Cost $261,218,900)
 
 
 
 
 
 
 
 
 
 
263,166,596
Other assets less liabilities – (0.6)%
 
 
 
 
 
 
 
 
 
 
(1,530,230)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$261,636,366
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
4,226
 
 
$512.17
 
 
November 2025
 
 
$2,052,926
 
 
$216,443,042
 
 
$(1,291,043)
 
 
 
 
 
 
 
 
$2,052,926
 
 
$216,443,042
 
 
$(1,291,043)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$2,052,926
 
 
$216,443,042
 
 
$(1,291,043)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
106
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
107
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$256,728,359
 
 
$   —
 
 
$256,728,359
Option Purchased - Puts
 
 
—
 
 
6,299,233
 
 
—
 
 
6,299,233
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
139,004
 
 
—
 
 
—
 
 
139,004
Total Assets
 
 
$139,004
 
 
$263,027,592
 
 
$—
 
 
$263,166,596
Liabilities
 
 
 
 
 
 
 
 
Put Options Written
 
 
$—
 
 
$(1,291,043)
 
 
$—
 
 
$(1,291,043)
Total Liabilities
 
 
$—
 
 
$(1,291,043)
 
 
$—
 
 
$(1,291,043)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
108
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.1%
Options on ETF – 100.1%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$4.63
 
 
111
 
 
$51,393
 
 
$6,946,430
Total Options Purchased – Calls
(Cost $6,811,822)
 
 
 
 
 
 
 
 
51,393
 
 
6,946,430
OPTION PURCHASED – PUTS(b)(c) – 1.4%
Options on ETF – 1.4%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
617.79
 
 
111
 
 
6,857,469
 
 
97,209
Total Options Purchased – Puts
(Cost $167,704)
 
 
 
 
 
 
 
 
6,857,469
 
 
97,209
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 1.0%
Time Deposits – 1.0%
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$66,721
 
 
66,721
Total Short-Term Investments
(Cost $66,721)
 
 
 
 
 
 
 
 
 
 
66,721
Total Investments – 102.5%
(Cost $7,046,247)
 
 
 
 
 
 
 
 
 
 
7,110,360
Other assets less liabilities – (2.5)%
 
 
 
 
 
 
 
 
 
 
(170,272)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$6,940,088
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
111
 
 
$634.90
 
 
September 2025
 
 
$132,341
 
 
$7,047,390
 
 
$(152,219)
 
 
 
 
 
 
 
 
$132,341
 
 
$7,047,390
 
 
$(152,219)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
111
 
 
$525.17
 
 
September 2025
 
 
$29,801
 
 
$5,829,387
 
 
$(14,749)
 
 
 
 
 
 
 
 
$29,801
 
 
$5,829,387
 
 
$(14,749)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$162,142
 
 
$12,876,777
 
 
$(166,968)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
109
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer15 ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
110
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer15 ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer15 ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$6,946,430
 
 
$—
 
 
$6,946,430
Option Purchased - Puts
 
 
—
 
 
97,209
 
 
—
 
 
97,209
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
66,721
 
 
—
 
 
—
 
 
66,721
Total Assets
 
 
$66,721
 
 
$7,043,639
 
 
$—
 
 
$7,110,360
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(152,219)
 
 
$—
 
 
$(152,219)
Put Options Written
 
 
—
 
 
(14,749)
 
 
—
 
 
(14,749)
Total Liabilities
 
 
$—
 
 
$(166,968)
 
 
$—
 
 
$(166,968)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
111
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.9%
Options on ETF – 99.9%
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
$4.57
 
 
6,839
 
 
$3,125,423
 
 
$426,904,194
Total Options Purchased – Calls
(Cost $420,292,305)
 
 
 
 
 
 
 
 
3,125,423
 
 
426,904,194
OPTION PURCHASED – PUTS(b)(c) – 2.7%
Options on ETF – 2.7%
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
617.79
 
 
6,839
 
 
422,506,581
 
 
11,523,305
Total Options Purchased – Puts
(Cost $14,902,790)
 
 
 
 
 
 
 
 
422,506,581
 
 
11,523,305
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.4%
Time Deposits – 0.4%
Bank of Nova Scotia,
Toronto, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$1,682,953
 
 
1,682,953
Total Short-Term Investments
(Cost $1,682,953)
 
 
 
 
 
 
 
 
 
 
1,682,953
Total Investments – 103.0%
(Cost $436,878,048)
 
 
 
 
 
 
 
 
 
 
440,110,452
Other assets less liabilities – (3.0)%
 
 
 
 
 
 
 
 
 
 
(12,994,358)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$427,116,094
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
6,839
 
 
$664.37
 
 
December 2025
 
 
$7,337,345
 
 
$454,362,643
 
 
$(7,721,641)
 
 
 
 
 
 
 
 
$7,337,345
 
 
$454,362,643
 
 
$(7,721,641)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
6,839
 
 
$556.07
 
 
December 2025
 
 
$6,667,844
 
 
$380,296,273
 
 
$(5,077,068)
 
 
 
 
 
 
 
 
$6,667,844
 
 
$380,296,273
 
 
$(5,077,068)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$14,005,189
 
 
$834,658,916
 
 
$(12,798,709)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
112
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
113
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap 6 Month Buffer10 Jan/Jul ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$426,904,194
 
 
$—
 
 
$426,904,194
Option Purchased - Puts
 
 
—
 
 
11,523,305
 
 
—
 
 
11,523,305
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
1,682,953
 
 
—
 
 
—
 
 
1,682,953
Total Assets
 
 
$1,682,953
 
 
$438,427,499
 
 
$—
 
 
$440,110,452
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(7,721,641)
 
 
$—
 
 
$(7,721,641)
Put Options Written
 
 
—
 
 
(5,077,068)
 
 
—
 
 
(5,077,068)
Total Liabilities
 
 
$—
 
 
$(12,798,709)
 
 
$—
 
 
$(12,798,709)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
114
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 99.2%
Options on ETF – 99.2%
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
$4.68
 
 
874
 
 
$409,032
 
 
$54,578,678
Total Options Purchased – Calls
(Cost $54,582,043)
 
 
 
 
 
 
 
 
409,032
 
 
54,578,678
OPTION PURCHASED – PUTS(b)(c) – 3.5%
Options on ETF – 3.5%
SPDR S&P 500 ETF Trust
 
 
January 2026
 
 
632.02
 
 
874
 
 
55,238,548
 
 
1,921,052
Total Options Purchased – Puts
(Cost $1,924,417)
 
 
 
 
 
 
 
 
55,238,548
 
 
1,921,052
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.5%
Time Deposits – 0.5%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$285,056
 
 
285,056
Total Short-Term Investments
(Cost $285,056)
 
 
 
 
 
 
 
 
 
 
285,056
Total Investments – 103.2%
(Cost $56,791,516)
 
 
 
 
 
 
 
 
 
 
56,784,786
Other assets less liabilities – (3.2)%
 
 
 
 
 
 
 
 
 
 
(1,758,148)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$55,026,638
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
874
 
 
$679.55
 
 
January 2026
 
 
$790,227
 
 
$59,392,670
 
 
$(793,592)
 
 
 
 
 
 
 
 
$790,227
 
 
$59,392,670
 
 
$(793,592)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
874
 
 
$568.87
 
 
January 2026
 
 
$867,139
 
 
$49,719,238
 
 
$(870,504)
 
 
 
 
 
 
 
 
$867,139
 
 
$49,719,238
 
 
$(870,504)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,657,366
 
 
$109,111,908
 
 
$(1,664,096)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
115
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
116
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$54,578,678
 
 
$—
 
 
$—
 
 
$54,578,678
Option Purchased - Puts
 
 
1,921,052
 
 
—
 
 
—
 
 
1,921,052
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
285,056
 
 
—
 
 
—
 
 
285,056
Total Assets
 
 
$56,784,786
 
 
$—
 
 
$—
 
 
$56,784,786
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$(793,592)
 
 
$—
 
 
$—
 
 
$(793,592)
Put Options Written
 
 
(870,504)
 
 
—
 
 
—
 
 
(870,504)
Total Liabilities
 
 
$(1,664,096)
 
 
$—
 
 
$—
 
 
$(1,664,096)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
117
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.6%
Options on ETF – 100.6%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
$4.40
 
 
773
 
 
$340,120
 
 
$ 48,523,559
Total Options Purchased – Calls
(Cost $45,305,860)
 
 
 
 
 
 
 
 
340,120
 
 
48,523,559
OPTION PURCHASED – PUTS(b)(c) – 0.3%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 0.3%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
August 2025
 
 
594.12
 
 
773
 
 
45,925,476
 
 
162,400
Total Options Purchased – Puts
(Cost $1,820,703)
 
 
 
 
 
 
 
 
45,925,476
 
 
162,400
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.6%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.6%
 
 
 
 
 
 
 
 
 
 
Skandinaviska Enskilda Banken AB,
Stockholm, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$309,731
 
 
309,731
Total Short-Term Investments
(Cost $309,731)
 
 
 
 
 
 
 
 
 
 
309,731
Total Investments – 101.5%
(Cost $47,436,294)
 
 
 
 
 
 
 
 
 
 
48,995,690
Other assets less liabilities – (1.5)%
 
 
 
 
 
 
 
 
 
 
(708,325)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$ 48,287,365
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
773
 
 
$ 638.68
 
 
August 2025
 
 
$387,011
 
 
$ 49,369,964
 
 
$ (531,329)
 
 
 
 
 
 
 
 
$387,011
 
 
$ 49,369,964
 
 
$ (531,329)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
773
 
 
$ 534.76
 
 
August 2025
 
 
$634,643
 
 
$ 41,336,948
 
 
$(40,111)
 
 
 
 
 
 
 
 
$634,643
 
 
$ 41,336,948
 
 
$(40,111)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$ 1,021,654
 
 
$ 90,706,912
 
 
$ (571,440)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
118
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
119
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap 6 Month Buffer10 Mar/Sep ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$ 48,523,559
 
 
$—
 
 
$ 48,523,559
Option Purchased - Puts
 
 
—
 
 
162,400
 
 
—
 
 
162,400
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
309,731
 
 
—
 
 
—
 
 
309,731
Total Assets
 
 
$309,731
 
 
$ 48,685,959
 
 
$—
 
 
$ 48,995,690
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(531,329)
 
 
$—
 
 
$(531,329)
Put Options Written
 
 
—
 
 
(40,111)
 
 
—
 
 
(40,111)
Total Liabilities
 
 
$—
 
 
$(571,440)
 
 
$—
 
 
$(571,440)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
120
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 105.9%
Options on ETF – 105.9%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$4.14
 
 
1,796
 
 
$743,544
 
 
$112,481,684
Total Options Purchased – Calls
(Cost $99,272,653)
 
 
 
 
 
 
 
 
743,544
 
 
112,481,684
OPTION PURCHASED – PUTS(b)(c) – 0.4%
Options on ETF – 0.4%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
559.33
 
 
1,796
 
 
100,455,668
 
 
439,463
Total Options Purchased – Puts
(Cost $4,414,745)
 
 
 
 
 
 
 
 
100,455,668
 
 
439,463
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.9%
Time Deposits – 0.9%
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$904,013
 
 
904,013
Total Short-Term Investments
(Cost $904,013)
 
 
 
 
 
 
 
 
 
 
904,013
Total Investments – 107.2%
(Cost $104,591,411)
 
 
 
 
 
 
 
 
 
 
113,825,160
Other assets less liabilities – (7.2)%
 
 
 
 
 
 
 
 
 
 
(7,623,575)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$106,201,585
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,796
 
 
$602.69
 
 
September 2025
 
 
$1,873,936
 
 
$108,243,124
 
 
$(6,893,102)
 
 
 
 
 
 
 
 
$1,873,936
 
 
$108,243,124
 
 
$(6,893,102)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
1,796
 
 
$503.45
 
 
September 2025
 
 
$1,878,993
 
 
$90,419,620
 
 
$(175,487)
 
 
 
 
 
 
 
 
$1,878,993
 
 
$90,419,620
 
 
$(175,487)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$3,752,929
 
 
$198,662,744
 
 
$(7,068,589)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
121
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
122
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap 6 Month Buffer10 Apr/Oct ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$112,481,684
 
 
$—
 
 
$112,481,684
Option Purchased - Puts
 
 
—
 
 
439,463
 
 
—
 
 
439,463
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
904,013
 
 
—
 
 
—
 
 
904,013
Total Assets
 
 
$904,013
 
 
$112,921,147
 
 
$—
 
 
$113,825,160
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(6,893,102)
 
 
$—
 
 
$(6,893,102)
Put Options Written
 
 
—
 
 
(175,487)
 
 
—
 
 
(175,487)
Total Liabilities
 
 
$—
 
 
$(7,068,589)
 
 
$—
 
 
$(7,068,589)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
123
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 106.1%
Options on ETF – 106.1%
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
$4.10
 
 
267
 
 
$109,470
 
 
$16,724,642
Total Options Purchased – Calls
(Cost $14,671,229)
 
 
 
 
 
 
 
 
109,470
 
 
16,724,642
OPTION PURCHASED – PUTS(b)(c) – 0.7%
Options on ETF – 0.7%
SPDR S&P 500 ETF Trust
 
 
October 2025
 
 
554.48
 
 
267
 
 
14,804,616
 
 
108,736
Total Options Purchased – Puts
(Cost $792,683)
 
 
 
 
 
 
 
 
14,804,616
 
 
108,736
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.5%
Time Deposits – 0.5%
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$81,215
 
 
81,215
Total Short-Term Investments
(Cost $81,215)
 
 
 
 
 
 
 
 
 
 
81,215
Total Investments – 107.3%
(Cost $15,545,127)
 
 
 
 
 
 
 
 
 
 
16,914,593
Other assets less liabilities – (7.3)%
 
 
 
 
 
 
 
 
 
 
(1,144,239)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$15,770,354
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
267
 
 
$607.55
 
 
October 2025
 
 
$313,231
 
 
$16,221,585
 
 
$(1,058,401)
 
 
 
 
 
 
 
 
$313,231
 
 
$16,221,585
 
 
$(1,058,401)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
267
 
 
$499.09
 
 
October 2025
 
 
$375,131
 
 
$13,325,703
 
 
$(48,768)
 
 
 
 
 
 
 
 
$375,131
 
 
$13,325,703
 
 
$(48,768)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$688,362
 
 
$29,547,288
 
 
$(1,107,169)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
124
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
125
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap 6 Month Buffer10 May/Nov ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$16,724,642
 
 
$—
 
 
$16,724,642
Option Purchased - Puts
 
 
—
 
 
108,736
 
 
—
 
 
108,736
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
81,215
 
 
—
 
 
—
 
 
81,215
Total Assets
 
 
$81,215
 
 
$16,833,378
 
 
$—
 
 
$16,914,593
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(1,058,401)
 
 
$—
 
 
$(1,058,401)
Put Options Written
 
 
—
 
 
(48,768)
 
 
—
 
 
(48,768)
Total Liabilities
 
 
$—
 
 
$(1,107,169)
 
 
$—
 
 
$(1,107,169)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
126
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 102.5%
Options on ETF – 102.5%
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
$4.36
 
 
545
 
 
$237,620
 
 
$34,126,880
Total Options Purchased – Calls
(Cost $31,738,539)
 
 
 
 
 
 
 
 
237,620
 
 
34,126,880
OPTION PURCHASED – PUTS(b)(c) – 1.5%
Options on ETF – 1.5%
SPDR S&P 500 ETF Trust
 
 
November 2025
 
 
589.33
 
 
545
 
 
32,118,485
 
 
498,343
Total Options Purchased – Puts
(Cost $1,364,053)
 
 
 
 
 
 
 
 
32,118,485
 
 
498,343
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.7%
Time Deposits – 0.7%
Citibank, New York, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$248,332
 
 
248,332
Total Short-Term Investments
(Cost $248,332)
 
 
 
 
 
 
 
 
 
 
248,332
Total Investments – 104.7%
(Cost $33,350,924)
 
 
 
 
 
 
 
 
 
 
34,873,555
Other assets less liabilities – (4.7)%
 
 
 
 
 
 
 
 
 
 
(1,566,071)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$33,307,484
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
545
 
 
$636.29
 
 
November 2025
 
 
$579,417
 
 
$34,677,805
 
 
$(1,232,245)
 
 
 
 
 
 
 
 
$579,417
 
 
$34,677,805
 
 
$(1,232,245)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
PUT OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
545
 
 
$530.45
 
 
November 2025
 
 
$631,192
 
 
$28,909,525
 
 
$(212,337)
 
 
 
 
 
 
 
 
$631,192
 
 
$28,909,525
 
 
$(212,337)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$1,210,609
 
 
$63,587,330
 
 
$(1,444,582)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
127
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
128
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Large Cap 6 Month Buffer10 Jun/Dec ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$34,126,880
 
 
$—
 
 
$34,126,880
Option Purchased - Puts
 
 
—
 
 
498,343
 
 
—
 
 
498,343
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
248,332
 
 
—
 
 
—
 
 
248,332
Total Assets
 
 
$248,332
 
 
$34,625,223
 
 
$—
 
 
$34,873,555
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(1,232,245)
 
 
$—
 
 
$(1,232,245)
Put Options Written
 
 
—
 
 
(212,337)
 
 
—
 
 
(212,337)
Total Liabilities
 
 
$—
 
 
$(1,444,582)
 
 
$—
 
 
$(1,444,582)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
129
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 100.0%
Options on ETF – 100.0%
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
$4.70
 
 
147
 
 
$69,090
 
 
$9,174,161
Total Options Purchased – Calls
(Cost $8,964,038)
 
 
 
 
 
 
 
 
69,090
 
 
9,174,161
OPTION PURCHASED – PUTS(b)(c) – 1.8%
Options on ETF – 1.8%
SPDR S&P 500 ETF Trust
 
 
December 2025
 
 
586.96
 
 
147
 
 
8,628,312
 
 
163,870
Total Options Purchased – Puts
(Cost $233,561)
 
 
 
 
 
 
 
 
8,628,312
 
 
163,870
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.7%
Time Deposits – 0.7%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$65,246
 
 
65,246
Total Short-Term Investments
(Cost $65,246)
 
 
 
 
 
 
 
 
 
 
65,246
Total Investments – 102.5%
(Cost $9,262,845)
 
 
 
 
 
 
 
 
 
 
9,403,277
Other assets less liabilities – (2.5)%
 
 
 
 
 
 
 
 
 
 
(229,351)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$9,173,926
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
147
 
 
$656.53
 
 
December 2025
 
 
$182,449
 
 
$9,650,991
 
 
$(215,894)
 
 
 
 
 
 
 
 
$182,449
 
 
$9,650,991
 
 
$(215,894)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$182,449
 
 
$9,650,991
 
 
$(215,894)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
130
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
131
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$9,174,161
 
 
$—
 
 
$9,174,161
Option Purchased - Puts
 
 
—
 
 
163,870
 
 
—
 
 
163,870
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
65,246
 
 
—
 
 
—
 
 
65,246
Total Assets
 
 
$65,246
 
 
$9,338,031
 
 
$—
 
 
$9,403,277
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(215,894)
 
 
$—
 
 
$(215,894)
Total Liabilities
 
 
$—
 
 
$(215,894)
 
 
$—
 
 
$(215,894)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
132
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 106.7%
Options on ETF – 106.7%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$4.26
 
 
212
 
 
$90,312
 
 
$13,274,828
Total Options Purchased – Calls
(Cost $11,252,927)
 
 
 
 
 
 
 
 
90,312
 
 
13,274,828
OPTION PURCHASED – PUTS(b)(c) – 0.3%
Options on ETF – 0.3%
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
531.42
 
 
212
 
 
11,266,104
 
 
31,119
Total Options Purchased – Puts
(Cost $963,932)
 
 
 
 
 
 
 
 
11,266,104
 
 
31,119
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.8%
Time Deposits – 0.8%
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$95,445
 
 
95,445
Total Short-Term Investments
(Cost $95,445)
 
 
 
 
 
 
 
 
 
 
95,445
Total Investments – 107.8%
(Cost $12,312,304)
 
 
 
 
 
 
 
 
 
 
13,401,392
Other assets less liabilities – (7.8)%
 
 
 
 
 
 
 
 
 
 
(970,727)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$12,430,665
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
212
 
 
$596.59
 
 
September 2025
 
 
$97,128
 
 
$12,647,708
 
 
$(925,414)
 
 
 
 
 
 
 
 
$97,128
 
 
$12,647,708
 
 
$(925,414)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$97,128
 
 
$12,647,708
 
 
$(925,414)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
133
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
134
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$13,274,828
 
 
$—
 
 
$13,274,828
Option Purchased - Puts
 
 
—
 
 
31,119
 
 
—
 
 
31,119
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
95,445
 
 
—
 
 
—
 
 
95,445
Total Assets
 
 
$95,445
 
 
$13,305,947
 
 
$—
 
 
$13,401,392
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(925,414)
 
 
$—
 
 
$(925,414)
Total Liabilities
 
 
$—
 
 
$(925,414)
 
 
$—
 
 
$(925,414)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
135
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer100 Protection ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration Date
 
 
Exercise Price
 
 
Contracts(a)
 
 
Notional Amount
 
 
Value
OPTION PURCHASED – CALLS(b)(c) – 101.0%
 
 
 
 
 
 
Options on ETF – 101.0%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
$4.57
 
 
304
 
 
$138,928
 
 
$19,026,266
Total Options Purchased – Calls
(Cost $18,749,811)
 
 
 
 
 
 
 
 
138,928
 
 
19,026,266
OPTION PURCHASED – PUTS(b)(c) – 1.4%
 
 
 
 
 
 
 
 
 
 
Options on ETF – 1.4%
 
 
 
 
 
 
 
 
 
 
SPDR S&P 500 ETF Trust
 
 
September 2025
 
 
617.85
 
 
304
 
 
18,782,640
 
 
266,611
Total Options Purchased – Puts
(Cost $418,008)
 
 
 
 
 
 
 
 
18,782,640
 
 
266,611
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.7%
 
 
 
 
 
 
 
 
 
 
Time Deposits – 0.7%
 
 
 
 
 
 
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd.,
London, 3.680%, 8/01/25(d)
 
 
 
 
 
 
 
 
$133,461
 
 
133,461
Total Short-Term Investments
(Cost $133,461)
 
 
 
 
 
 
 
 
 
 
133,461
Total Investments – 103.1%
(Cost $19,301,280)
 
 
 
 
 
 
 
 
 
 
19,426,338
Other assets less liabilities – (3.1)%
 
 
 
 
 
 
 
 
 
 
(590,085)
Net Assets – 100.0%
 
 
 
 
 
 
 
 
 
 
$18,836,253
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
SCHEDULE OF WRITTEN OPTIONS AS OF JULY 31, 2025
CALL OPTIONS WRITTEN(b)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Description
 
 
Contracts(a)
 
 
Exercise
Price
 
 
Expiration
Date
 
 
Premiums
Received
 
 
Notional
Amount
 
 
Value
SPDR S&P 500 ETF Trust
 
 
225
 
 
$617.85
 
 
September 2025
 
 
$523,788
 
 
$13,901,625
 
 
$(582,917)
 
 
 
 
 
 
 
 
$523,788
 
 
$13,901,625
 
 
$(582,917)
TOTAL OPTIONS WRITTEN
 
 
 
 
 
 
 
 
$523,788
 
 
$13,901,625
 
 
$(582,917)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(a)
Each contract equals 100 shares.
(b)
Non-income producing.
(c)
Held in connection with a written option, see Schedule of Written Options for more detail.
(d)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
136
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer100 Protection ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM U.S. Equity Buffer100 Protection ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
137
 
AIM ETF PRODUCTS TRUST
AllianzIM U.S. Equity Buffer100 Protection ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM U.S. Equity Buffer100 Protection ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Option Purchased - Calls
 
 
$—
 
 
$19,026,266
 
 
$—
 
 
$19,026,266
Option Purchased - Puts
 
 
—
 
 
266,611
 
 
—
 
 
266,611
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
133,461
 
 
—
 
 
—
 
 
133,461
Total Assets
 
 
$133,461
 
 
$19,292,877
 
 
$—
 
 
$19,426,338
Liabilities
 
 
 
 
 
 
 
 
Call Options Written
 
 
$—
 
 
$(582,917)
 
 
$—
 
 
$(582,917)
Total Liabilities
 
 
$—
 
 
$(582,917)
 
 
$—
 
 
$(582,917)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
138
 
AIM ETF PRODUCTS TRUST
AllianzIM Buffer20 Allocation ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
AFFILIATED EXCHANGE-TRADED FUNDS – 100.0%(a)(b)
 
 
 
 
AllianzIM U.S. Large Capital Buffer20 Jul ETF
 
 
88,656
 
 
$3,324,804
AllianzIM U.S. Large Capital Buffer20 Jun ETF
 
 
103,269
 
 
3,318,332
AllianzIM U.S. Large Capital Buffer20 Aug ETF
 
 
106,293
 
 
3,312,749
AllianzIM U.S. Large Capital Buffer20 Sep ETF
 
 
107,647
 
 
3,289,811
AllianzIM U.S. Large Capital Buffer20 May ETF
 
 
101,339
 
 
3,282,401
AllianzIM U.S. Large Capital Buffer20 Mar ETF
 
 
99,883
 
 
3,282,355
AllianzIM U.S. Large Capital Buffer20 Oct ETF
 
 
87,543
 
 
3,279,588
AllianzIM U.S. Large Capital Buffer20 Nov ETF
 
 
100,573
 
 
3,277,221
AllianzIM U.S. Large Capital Buffer20 Jan ETF
 
 
92,593
 
 
3,274,088
AllianzIM U.S. Large Capital Buffer20 Dec ETF
 
 
102,365
 
 
3,273,633
AllianzIM U.S. Large Capital Buffer20 Feb ETF
 
 
100,934
 
 
3,262,399
AllianzIM U.S. Large Capital Buffer20 Apr ETF
 
 
95,226
 
 
3,203,203
Total Affiliated Exchange-Traded Funds
(Cost $37,585,652)
 
 
 
 
39,380,584
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
Citibank, New York, 3.680%, 8/01/25(c)
 
 
$ 16,342
 
 
16,342
Total Short-Term Investments
(Cost $16,342)
 
 
 
 
16,342
Total Investments – 100.0%
(Cost $37,601,994)
 
 
 
 
39,396,926
Other assets less liabilities – 0.0%*
 
 
 
 
(1,641)
Net Assets – 100.0%
 
 
 
 
$39,395,285
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Affiliated investment.
(b)
Non-income producing.
(c)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
139
 
AIM ETF PRODUCTS TRUST
AllianzIM Buffer20 Allocation ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM Buffer20 Allocation ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
140
 
AIM ETF PRODUCTS TRUST
AllianzIM Buffer20 Allocation ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM Buffer20 Allocation ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Affiliated Exchange-Traded Funds
 
 
$39,380,584
 
 
$   —
 
 
$   —
 
 
$39,380,584
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
16,342
 
 
—
 
 
—
 
 
16,342
Total Assets
 
 
$39,396,926
 
 
$—
 
 
$—
 
 
$39,396,926
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in issuers considered to be affiliates of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
Investment
Company
 
 
Value as of
January 7,
2025*
 
 
Purchases
 
 
Sales
 
 
Realized Gain
(Loss) on
Investment
Securities
 
 
Change in
Unrealized
Appreciation
(Depreciation)
of Investment
Securities
 
 
Value as of
July 31,
2025
 
 
Dividend
Income
 
 
Shares as of
July 31,
2025
AllianzIM U.S. Large Capital Buffer20 Jul ETF
 
 
$   —
 
 
$3,132,384
 
 
$   —
 
 
$   —
 
 
$192,420
 
 
$3,324,804
 
 
$   —
 
 
88,656
AllianzIM U.S. Large Capital Buffer20 Jun ETF
 
 
—
 
 
3,132,869
 
 
—
 
 
—
 
 
185,463
 
 
3,318,332
 
 
—
 
 
103,269
AllianzIM U.S. Large Capital Buffer20 Aug ETF
 
 
—
 
 
3,134,020
 
 
—
 
 
—
 
 
178,729
 
 
3,312,749
 
 
—
 
 
106,293
AllianzIM U.S. Large Capital Buffer20 Sep ETF
 
 
—
 
 
3,131,557
 
 
—
 
 
—
 
 
158,254
 
 
3,289,811
 
 
—
 
 
107,647
AllianzIM U.S. Large Capital Buffer20 May ETF
 
 
—
 
 
3,132,761
 
 
—
 
 
—
 
 
149,640
 
 
3,282,401
 
 
—
 
 
101,339
AllianzIM U.S. Large Capital Buffer20 Mar ETF
 
 
—
 
 
3,133,662
 
 
—
 
 
—
 
 
148,693
 
 
3,282,355
 
 
—
 
 
99,883
AllianzIM U.S. Large Capital Buffer20 Oct ETF
 
 
—
 
 
3,130,822
 
 
—
 
 
—
 
 
148,766
 
 
3,279,588
 
 
—
 
 
87,543
AllianzIM U.S. Large Capital Buffer20 Nov ETF
 
 
—
 
 
3,131,618
 
 
—
 
 
—
 
 
145,603
 
 
3,277,221
 
 
—
 
 
100,573
AllianzIM U.S. Large Capital Buffer20 Jan ETF
 
 
—
 
 
3,130,195
 
 
—
 
 
—
 
 
143,893
 
 
3,274,088
 
 
—
 
 
92,593
AllianzIM U.S. Large Capital Buffer20 Dec ETF
 
 
—
 
 
3,130,151
 
 
—
 
 
—
 
 
143,482
 
 
3,273,633
 
 
—
 
 
102,365
AllianzIM U.S. Large Capital Buffer20 Feb ETF
 
 
—
 
 
3,134,957
 
 
—
 
 
—
 
 
127,442
 
 
3,262,399
 
 
—
 
 
100,934
AllianzIM U.S. Large Capital Buffer20 Apr ETF
 
 
—
 
 
3,130,656
 
 
—
 
 
—
 
 
72,547
 
 
3,203,203
 
 
—
 
 
95,226
 
 
$—
 
 
$37,585,652
 
 
$—
 
 
$—
 
 
$1,794,932
 
 
$39,380,584
 
 
$—
 
 
1,186,321
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
The Fund commenced operations on January 7, 2025.
 
141
 
AIM ETF PRODUCTS TRUST
AllianzIM Buffer15 Uncapped Allocation ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
AFFILIATED EXCHANGE-TRADED FUNDS – 100.0%(a)(b)
 
 
 
 
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF
 
 
149,595
 
 
$4,142,838
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF
 
 
148,094
 
 
4,134,000
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
 
 
145,681
 
 
4,129,182
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF
 
 
152,917
 
 
4,127,413
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF
 
 
151,901
 
 
4,127,226
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF
 
 
144,769
 
 
4,126,988
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF
 
 
156,231
 
 
4,124,405
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
 
 
157,852
 
 
4,123,884
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF
 
 
158,154
 
 
4,121,414
AllianzIM U.S. Equity Buffer15 Uncapped May ETF
 
 
139,933
 
 
4,121,027
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF
 
 
154,340
 
 
4,114,859
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF
 
 
159,082
 
 
4,101,627
Total Affiliated Exchange-Traded Funds
(Cost $47,455,301)
 
 
 
 
49,494,863
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
DBS Bank Ltd., Singapore, 3.680%, 8/01/25(c)
 
 
$18,693
 
 
18,693
Total Short-Term Investments
(Cost $18,693)
 
 
 
 
18,693
Total Investments – 100.0%
(Cost $47,473,994)
 
 
 
 
49,513,556
Other assets less liabilities – 0.0%*
 
 
 
 
(1,715)
Net Assets – 100.0%
 
 
 
 
$49,511,841
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Affiliated investment.
(b)
Non-income producing.
(c)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
142
 
AIM ETF PRODUCTS TRUST
AllianzIM Buffer15 Uncapped Allocation ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM Buffer15 Uncapped Allocation ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
143
 
AIM ETF PRODUCTS TRUST
AllianzIM Buffer15 Uncapped Allocation ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM Buffer15 Uncapped Allocation ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Affiliated Exchange-Traded Funds
 
 
$49,494,863
 
 
$   —
 
 
$   —
 
 
$49,494,863
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
18,693
 
 
—
 
 
—
 
 
18,693
Total Assets
 
 
$49,513,556
 
 
$—
 
 
$—
 
 
$49,513,556
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in issuers considered to be affiliates of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
Investment
Company
 
 
Value as of
March 5,
2025*
 
 
Purchases
 
 
Sales
 
 
Realized Gain
(Loss) on
Investment
Securities
 
 
Change in
Unrealized
Appreciation
(Depreciation)
of Investment
Securities
 
 
Value as of
July 31,
2025
 
 
Dividend
Income
 
 
Shares as of
July 31,
2025
AllianzIM U.S. Equity Buffer15 Uncapped Aug ETF
 
 
$   —
 
 
$4,051,323
 
 
$(108,432)
 
 
$11,245
 
 
$188,702
 
 
$4,142,838
 
 
$   —
 
 
149,595
AllianzIM U.S. Equity Buffer15 Uncapped Jul ETF
 
 
—
 
 
4,050,874
 
 
(108,853)
 
 
11,575
 
 
180,404
 
 
4,134,000
 
 
—
 
 
148,094
AllianzIM U.S. Equity Buffer15 Uncapped Apr ETF
 
 
—
 
 
4,052,184
 
 
(108,241)
 
 
13,063
 
 
172,176
 
 
4,129,182
 
 
—
 
 
145,681
AllianzIM U.S. Equity Buffer15 Uncapped Nov ETF
 
 
—
 
 
4,052,268
 
 
(108,390)
 
 
11,303
 
 
172,232
 
 
4,127,413
 
 
—
 
 
152,917
AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF
 
 
—
 
 
4,051,078
 
 
(108,189)
 
 
10,789
 
 
173,548
 
 
4,127,226
 
 
—
 
 
151,901
AllianzIM U.S. Equity Buffer15 Uncapped Jun ETF
 
 
—
 
 
4,049,700
 
 
(108,290)
 
 
12,169
 
 
173,409
 
 
4,126,988
 
 
—
 
 
144,769
AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF
 
 
—
 
 
4,051,777
 
 
(108,352)
 
 
11,157
 
 
169,823
 
 
4,124,405
 
 
—
 
 
156,231
AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
 
 
—
 
 
4,051,152
 
 
(108,270)
 
 
11,307
 
 
169,695
 
 
4,123,884
 
 
—
 
 
157,852
AllianzIM U.S. Equity Buffer15 Uncapped Feb ETF
 
 
—
 
 
4,053,027
 
 
(108,248)
 
 
11,324
 
 
165,311
 
 
4,121,414
 
 
—
 
 
158,154
AllianzIM U.S. Equity Buffer15 Uncapped May ETF
 
 
—
 
 
4,052,330
 
 
(107,810)
 
 
13,783
 
 
162,724
 
 
4,121,027
 
 
—
 
 
139,933
AllianzIM U.S. Equity Buffer15 Uncapped Oct ETF
 
 
—
 
 
4,050,884
 
 
(107,941)
 
 
10,344
 
 
161,572
 
 
4,114,859
 
 
—
 
 
154,340
AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF
 
 
—
 
 
4,049,503
 
 
(107,730)
 
 
9,888
 
 
149,966
 
 
4,101,627
 
 
—
 
 
159,082
 
 
$—
 
 
$48,616,100
 
 
$(1,298,746)
 
 
$137,947
 
 
$2,039,562
 
 
$49,494,863
 
 
$—
 
 
1,818,549
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
The Fund commenced operations on March 5, 2025.
 
144
 
AIM ETF PRODUCTS TRUST
AllianzIM 6 Month Buffer10 Allocation ETF
Schedule of Investments
July 31, 2025 (unaudited)
 
 
 
 
 
 
 
 
 
 
Shares
 
 
Value
AFFILIATED EXCHANGE-TRADED FUNDS – 100.0%(a)(b)
 
 
 
 
AllianzIM U.S. Large Capital 6 Month Buffer10 Feb/Aug ETF
 
 
175,825
 
 
$5,306,400
AllianzIM U.S. Large Capital 6 Month Buffer10 Mar/Sep ETF
 
 
178,373
 
 
5,296,001
AllianzIM U.S. Large Capital 6 Month Buffer10 Jan/Jul ETF
 
 
163,401
 
 
5,295,826
AllianzIM U.S. Large Capital 6 Month Buffer10 Jun/Dec ETF
 
 
187,434
 
 
5,204,292
AllianzIM U.S. Large Capital 6 Month Buffer10 May/Nov ETF
 
 
180,433
 
 
5,169,622
AllianzIM U.S. Large Capital 6 Month Buffer10 Apr/Oct ETF
 
 
153,851
 
 
5,141,700
Total Affiliated Exchange-Traded Funds
(Cost $30,087,077)
 
 
 
 
31,413,841
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Principal
 
 
 
SHORT-TERM INVESTMENTS – 0.0%*
 
 
 
 
Time Deposits – 0.0%*
 
 
 
 
Sumitomo Mitsui Trust Bank Ltd., London, 3.680%, 8/01/25(c)
 
 
$11,781
 
 
11,781
Total Short-Term Investments
(Cost $11,781)
 
 
 
 
11,781
Total Investments – 100.0%
(Cost $30,098,858)
 
 
 
 
31,425,622
Other assets less liabilities – 0.0%*
 
 
 
 
(1,327)
Net Assets – 100.0%
 
 
 
 
$31,424,295
 
 
 
 
 
 
 
*
Rounds to less than 0.05%.
(a)
Affiliated investment.
(b)
Non-income producing.
(c)
Time deposits bear interest at a variable rate that is based on a variety of factors, including but not limited to relevant overnight and short-term reference rates, the range of distribution between and among the interest rates paid by each eligible institution on their respective deposits, and the weighted average distribution of interest rates on the deposits. The rate shown is as of July 31, 2025.
The accompanying notes are an integral part of the financial statements.
 
145
 
AIM ETF PRODUCTS TRUST
AllianzIM 6 Month Buffer10 Allocation ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited)
Investment Valuation
The AllianzIM 6 Month Buffer10 Allocation ETF’s (the “Fund”) investments are valued daily at market or, in the absence of market value with respect to any investments, at fair value. Market value prices generally represent last sale or official closing prices from a national or foreign exchange (i.e., a regulated market) and are primarily obtained from third-party pricing services. The Board of Trustees (the “Board”) has designated the Allianz Investment Management LLC (the “Adviser”) to fair value the Fund’s portfolio securities and other assets for which market quotations are not readily available or reliable in accordance with valuation procedures approved by the Board. As a general principle, the current “fair value” of a security would be the amount which the owner might reasonably expect to receive for the security upon its current sale. Valuing a Fund’s assets using fair value pricing can result in using prices for those assets that may differ from current market valuations and the Fund’s NAV will be subject to the judgment of the Adviser. The Adviser’s fair valuation process is subject to the oversight of the Board.
FLEX Options listed on an exchange (e.g., Cboe) generally are valued using a model-based price provided by the exchange at the official close of that exchange’s trading day. The close of trading for some options exchanges may occur later than the closing of the New York Stock Exchange (“NYSE”). However, on days when a trade in the FLEX Options held by the Fund occurs, the same-day market trade price will be used to value such FLEX Options in lieu of the model-based price. If there is no same-day market trade price for the FLEX Options and/or the exchange is unable to provide a model price, or if such prices are deemed by the Adviser, in its judgment, to be unreliable, the value of the FLEX Options may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the Investment Company Act of 1940 (the “1940 Act”).
Options (other than FLEX Options) generally are valued at the last sale price on the principal exchange on which the option is traded, as of the close of the NYSE. If market quotations are not available or reliable, the value of an option may be priced at fair value as determined in accordance with valuation procedures approved by the Board and the requirements of the 1940 Act.
The Fund places excess cash balances into overnight time deposits with one or more eligible deposit institutions that meet credit and risk standards approved by the Fund. These are classified as short-term investments in the Funds’ Schedule of Investments.
Fair value pricing is used by a Fund when reliable market valuations are not readily available or are not deemed to reflect current market values. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations or whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next net asset value calculation time that may materially affect the value of the Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair-value pricing is employed, the prices of securities used by a Fund to calculate its net asset value may differ from quoted or published prices for the same securities.
Various inputs are used in determining the value of the Fund’s investments. The three levels defined by the hierarchy are as follows:
•
Level 1 — unadjusted quoted prices in active markets for identical assets
•
Level 2 — other significant inputs (including quoted prices of similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Adviser’s own assumptions in determining the fair value of assets and liabilities)
The inputs or methodology used for valuing assets and liabilities are not necessarily an indication of the risk associated with investing in those assets and liabilities.
 
146
 
AIM ETF PRODUCTS TRUST
AllianzIM 6 Month Buffer10 Allocation ETF
Notes to Schedule of Investments
July 31, 2025 (unaudited) (continued)
The following table summarizes the valuation of the Fund’s assets and liabilities under the fair value hierarchy levels as of July 31, 2025:
AllianzIM 6 Month Buffer10 Allocation ETF
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Level 1
 
 
Level 2
 
 
Level 3
 
 
Total
Assets
 
 
 
 
 
 
 
 
Affiliated Exchange-Traded Funds
 
 
$31,413,841
 
 
$   —
 
 
$   —
 
 
$31,413,841
Short-Term Investments
 
 
 
 
 
 
 
 
Time Deposits
 
 
11,781
 
 
—
 
 
—
 
 
11,781
Total Assets
 
 
$31,425,622
 
 
$—
 
 
$—
 
 
$31,425,622
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments in issuers considered to be affiliates of the Fund during the period ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Affiliated
Investment
Company
 
 
Value as of
January 7,
2025*
 
 
Purchases
 
 
Sales
 
 
Realized Gain
(Loss) on
Investment
Securities
 
 
Change in
Unrealized
Appreciation
(Depreciation)
of Investment
Securities
 
 
Value as of
July 31,
2025
 
 
Dividend
Income
 
 
Shares as of
July 31,
2025
AllianzIM U.S. Large Capital 6 Month Buffer10 Feb/Aug ETF
 
 
$   —
 
 
$5,115,810
 
 
$(105,669)
 
 
$4,539
 
 
$291,720
 
 
$5,306,400
 
 
$   —
 
 
175,825
AllianzIM U.S. Large Capital 6 Month Buffer10 Mar/Sep ETF
 
 
—
 
 
5,115,718
 
 
(105,819)
 
 
4,759
 
 
281,343
 
 
5,296,001
 
 
—
 
 
178,373
AllianzIM U.S. Large Capital 6 Month Buffer10 Jan/Jul ETF
 
 
—
 
 
5,113,626
 
 
(105,136)
 
 
4,102
 
 
283,234
 
 
5,295,826
 
 
—
 
 
163,401
AllianzIM U.S. Large Capital 6 Month Buffer10 Jun/Dec ETF
 
 
—
 
 
5,116,158
 
 
(104,621)
 
 
3,238
 
 
189,517
 
 
5,204,292
 
 
—
 
 
187,434
AllianzIM U.S. Large Capital 6 Month Buffer10 May/Nov ETF
 
 
—
 
 
5,117,598
 
 
(104,598)
 
 
3,666
 
 
152,956
 
 
5,169,622
 
 
—
 
 
180,433
AllianzIM U.S. Large Capital 6 Month Buffer10 Apr/Oct ETF
 
 
—
 
 
5,114,633
 
 
(104,194)
 
 
3,267
 
 
127,994
 
 
5,141,700
 
 
—
 
 
153,851
 
 
$—
 
 
$30,693,543
 
 
$(630,037)
 
 
$23,571
 
 
$1,326,764
 
 
$31,413,841
 
 
$—
 
 
1,039,317
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
*
The Fund commenced operations on January 7, 2025.
 
147