AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF (SIXF)

The AllianzIM U.S. Large Cap 6 Month Buffer10 Feb/Aug ETF is a defined-outcome exchange-traded fund from Allianz Investment Management, part of Allianz Life Insurance Company of North America. It seeks to match the return of the SPDR S&P 500 ETF Trust up to a cap while buffering the first 10% of losses over six-month outcome periods that reset in February and August.

The fund builds its payoff with options on the S&P 500 reference asset, and a new cap is set at the start of each six-month period based on prevailing market conditions. The shorter outcome period means the buffer and cap reset twice a year. Investors who buy partway through a period may experience a different buffer and upside than those who hold for the full period.