AllianzIM U.S. Equity Buffer15 Uncapped Jan ETF (JANU) Stock Price, Quote, News & History | Benzinga

The Fund pursues a buffered strategy that seeks to provide returns that track the share price returns of the SPDR S&P 500 ETF Trust (the Underlying ETF) (i.e., the market price returns of the Underlying ETF), at the end of a specified one-year period, from January 1 to December 31, as described below (the Outcome Period), subject to a Spread, and to provide downside protection with a buffer against the first 15 percent of Underlying ETF losses for the Outcome Period (the Buffer). The Spread represents the opportunity cost (i.e., the upside performance a shareholder forgoes) in return for the downside protection provided by the Buffer. The Funds intended return measured across different market conditions (e.g., rising or declining markets) is referred to as outcomes in this prospectus. The Underlying ETFs share price returns reflect the price at which the Underlying ETFs shares trade on the secondary market (not the Underlying ETFs net asset value).