Aptus January Buffer ETF (JANB)

Aptus January Buffer ETF is a defined outcome fund from Aptus Capital Advisors that seeks to provide exposure to U.S. large-cap stocks with a buffer against a portion of losses over an annual outcome period starting each January.

The fund uses options on a broad U.S. equity index or index ETF, typically alongside Treasury holdings, to create its payoff. In exchange for the downside buffer, gains above a cap set at the start of each period are forgone. The stated buffer and cap apply to investors who hold for the entire outcome period, and new terms are established at each annual reset.