iShares Large Cap 10% Target Buffer Mar ETF (TENM)

The iShares Large Cap 10% Target Buffer Mar ETF (TENM) is an exchange-traded fund from BlackRock's iShares business that provides defined-outcome exposure to large-cap U.S. equities.

The fund uses options on an iShares S&P 500 ETF to seek a buffer against approximately the first 10% of losses in that reference fund over an outcome period that starts each March, while capping potential gains at a level set at the beginning of each period.

Its objective is to combine participation in large-cap U.S. stock returns with protection against moderate declines. The targeted buffer and cap apply to shares held from the start to the end of the outcome period.