AllianzIM International Equity Buffer15 Uncapped Jul ETF (JULI)

The AllianzIM International Equity Buffer15 Uncapped Jul ETF (JULI) is a buffered fund from Allianz Investment Management. It seeks to provide exposure to developed international stock markets outside North America while protecting against the first 15% of losses over a one-year outcome period that starts in July.

Unlike many buffer funds, this series does not impose a fixed cap on upside returns. Instead, the cost of the buffer is reflected through a reduced level of participation in gains during the outcome period.

The fund implements its strategy with options referencing an international developed-market equity benchmark. The buffer applies to investors who hold for the full period, and the options are reset each July for a new outcome period.