AllianzIM International Equity Buffer5 

QBIV seeks to track the share price return of the iSharesMSCI EAFE ETF (EFA) over a three-month calendar quarter, up to a pre-set upside maximum, while providing downside protection on the first 5% of losses. Investors are exposed to further downside losses on a 1:1 basis once the buffer level is breached. Both the cap and buffer are subject to reduction by management fees and expenses. Investors should also note they are giving up any potential dividends. Cap and buffer levels are reset at the start of each quarter and may change based on market conditions. The strategy is intended for investors who purchase immediately prior to, and hold through, the entire quarter. To pursue its strategy, the fund uses FLEX options to create the exposure.