AllianzIM 6 Month Buffer10 Allocation ETF (SPBX)

AllianzIM 6 Month Buffer10 Allocation ETF (SPBX) is an actively managed fund of funds from Allianz Investment Management. It invests in a set of AllianzIM six-month buffered ETFs tied to the S&P 500, each designed to protect against the first 10% of index losses over a six-month outcome period, subject to a cap on gains.

Because the underlying funds reset at different points throughout the year, the allocation ETF holds a ladder of overlapping outcome periods. This reduces timing risk associated with buying a single buffered fund and offers an ongoing, buffered exposure to U.S. large-cap equities.