IMAY vs QBIF

IMAYCInnovator International Developed Power Buffer ETF - May

QBIFBAllianzIM International Equity Buffer15 ETF

In short

IMAY Most buffer ETFs hedge the S&P 500. This one aims the same machinery at developed international stocks: the first 15% of the underlying ETF's price decline absorbed over a May-to-April year, in exchange for a capped upside.

QBIF —No data

Stated mandate

IMAY The fund seeks to track the return of the iShares MSCI EAFE ETF (EFA), subject to a predetermined cap, while protecting against the first 15% of losses during the outcome period.

QBIF —No data

Why people hold it

• IMAY The prospectus spells out the trade upfront: first 15% of the underlying ETF's price decline absorbed, upside capped, period running May 1 to April 30, then a new period starts instead of the fund closing.sec.gov
• At 0.85% a year it sits right at the median for international buffer funds, and it ranks among the stronger implementations in that peer group.
• The payoff is built from FLEX options on the iShares MSCI EAFE ETF, cleared through the Options Clearing Corporation rather than resting on one bank's structured note.sec.gov
• One rung of a 12-month ladder: Innovator runs this same EAFE strategy with a start month for every month of the year (IMAR, IAPR, IJUL and the rest), so entries can be staggered.

QBIF —No data

Worth knowing

• IMAY Upside stops at the cap set for each period, so a strong year in developed markets leaves gains on the table.sec.gov
• The 15% buffer is measured before fees, and the 0.85% management fee trims what you keep. Buy mid-period and you inherit whatever buffer and cap remain, not the headline pair.sec.gov
• Outcomes track the underlying ETF's price only, so its dividends don't flow through and the fund isn't a source of regular income. Shares also trade lightly, so spreads deserve a look.sec.gov

QBIF —No data

Full IMAY profile⁠

Full QBIF profile⁠