KJAN

KJAN is an actively managed “buffered” small-cap strategy designed to shape outcomes on the iShares Russell 2000 ETF (IWM) over a preset January-to-December holding window. It uses exchange-traded FLEX options plus collateral to try to absorb the first ~15% of losses, but it also caps upside and does not capture IWM’s dividends because the options reference price return, not total return.