AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF
MARU
Chicago Board Options Exchange- -
USD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 5701 Golden Hills Drive Minneapolis MN United States of America 55416
- IPO Date
- Mar 3, 2025
- CIK
- 0001797318
- Similar Companies
- Business
- AllianzIM U.S. Equity Buffer15 Uncapped Mar ETF is an actively managed, non-diversified U.S. defined-outcome exchange-traded fund launched on February 28, 2025 and listed on Cboe BZX under the ticker MARU. The fund is a series of AIM ETF Products Trust and is advised by Allianz Investment Management LLC, a registered investment adviser and wholly owned subsidiary of Allianz Life Insurance Company of North America, which is headquartered in Minneapolis, Minnesota. MARU provides U.S. large-cap equity-linked investment exposure through a portfolio consisting principally of customized Flexible Exchange, or FLEX, call and put options referencing the SPDR S&P 500 ETF Trust; the underlying ETF is designed to reflect the price and yield performance of the S&P 500 Index. The fund targets retail and institutional investors seeking a defined-outcome approach to U.S. equity participation, combining uncapped upside participation above a specified annual spread with a buffer intended to absorb the first 15% of losses in the underlying ETF over a one-year outcome period. The fund invests at least 80% of net assets in instruments with economic characteristics similar to U.S. equity securities and may also hold cash equivalents, short-term fixed-income instruments, or synthetic-yield option positions where applicable. For the outcome period from March 1, 2026 through February 28, 2027, MARU seeks to track SPDR S&P 500 ETF Trust share-price gains exceeding a 4.04% gross spread, or 4.78% after its 0.74% annual management fee, with an intended 15.00% gross downside buffer, or 14.26% after management fees; gains above the spread are not capped, while losses beyond the buffer are generally borne on a one-for-one basis. The fund does not receive dividends paid by the underlying ETF and is designed to achieve its stated outcome only for investors holding shares for the full outcome period. Its principal products and services comprise exchange-traded fund shares offering options-based buffered U.S. equity exposure; annual March-to-February outcome periods; uncapped upside participation above a market-determined spread; downside-loss buffering; daily outcome-period, spread, buffer, holdings, performance, and potential-return information; and secondary-market liquidity for ETF shares. As its principal recent operational development, MARU reset its options portfolio for the March 1, 2026 to February 28, 2027 outcome period, establishing a new 4.04% gross spread and continuing its 15% gross buffer structure; the fund is structured to reset its FLEX Options portfolio, spread, and outcome terms annually while remaining indefinitely offered.