The AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) is an exchange-traded fund that seeks to provide investors with exposure to the U.S. large-cap equity market while offering a level of downside protection through a buffered strategy. The fund is managed by Allianz Investment Management LLC and tracks the performance of the S&P 500 Price Index.
The buffered strategy of JANW provides investors with a level of downside protection by buffering the first 20% of losses in the S&P 500 Price Index over the course of an annual period, subject to certain limitations. This means that if the S&P 500 Price Index were to decline by 20% or less over the course of an annual period, investors would not experience any loss of principal. However, if the index were to decline by more than 20%, investors would be exposed to losses beyond that 20% buffer.
JANW has an expense ratio of 0.74%, which is higher than the average expense ratio for ETFs. As of February 18, 2023, the fund had total net assets of approximately $79.1 million. The fund's top holdings include large-cap companies such as Apple, Microsoft, and Amazon. The fund is traded on the NYSE Arca exchange.
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