AllianzIM U.S. Small Cap Buffer15 ETF (QBKF)

The AllianzIM U.S. Small Cap Buffer15 ETF is a defined-outcome fund from Allianz Investment Management (AllianzIM), the investment arm affiliated with the Allianz insurance group.

The fund provides options-based exposure to U.S. small-capitalization stocks, referencing an ETF that tracks the Russell 2000 Index. It aims to absorb the first 15% of losses in that index over each outcome period, in exchange for reduced participation in gains.

The option positions are reset at the end of each outcome period. Because it uses options, the fund's returns differ from the Russell 2000 and it does not receive dividends directly. It trades on Cboe BZX under the ticker QBKF.