About AllianzIM U.S. Equity Buffer20 Apr ETF

APRW uses options to moderate losses on shares of SPDR S&P 500 ETF Trust (ticker: SPY) over a one-year period, starting in April. In exchange for preventing realization of the first 20% of losses, the fund forgoes some upside return and the dividend component of SPY, as the options are written on the price (not total) return version of the shares. Should the shares of SPY decline greater than...