iShares Large Cap Max Buffer Jun ETF (MAXJ)

iShares Large Cap Max Buffer Jun ETF is a defined outcome fund from BlackRock's iShares family. It seeks to track the share price return of the iShares Core S&P 500 ETF up to a cap, while providing a buffer against the full amount of that fund's losses over an outcome period that resets each June.

The fund holds the S&P 500 ETF and a set of options designed to create this payoff. In return for very deep downside protection, potential gains are limited to an upside cap determined at the start of each period, which is typically modest. Dividends are generally not part of the targeted return.

Investors purchasing shares after an outcome period has started may experience a different level of protection and upside than the stated terms.