VanEck (JULV) launched the VanEck U.S. Equity Buffer ETF – July, its first defined outcome “buffer” ETF, subadvised by Lido Advisors. The actively managed fund seeks equity exposure linked to the price performance of the S&P 500, via FLEX options on the SPDR S&P 500 ETF Trust, while targeting a buffer against the first 20% of losses over an approximately one‑year outcome period that resets each July, in exchange for an upside cap.
The 20% buffer is measured before fees and expenses; a 0.50% management fee and other costs reduce the effective buffer, and losses beyond 20% are borne one‑for‑one by investors. VanEck plans additional buffer ETFs with different outcome periods and will publish data such as initial cap and buffer, remaining cap and buffer, and days left in each outcome period. According to VanEck, it managed about $225.7 billion in assets as of July 31, 2026, while Lido Advisors oversees more than $46 billion in regulatory assets under management.