IDAU ETF Price & Analysis

Corgi International Developed Equities 15% Structured Buffer ETF — August Series (IDAU) is a one‑year, outcome‑oriented ETF designed to give investors targeted exposure to developed international equities (the EAFE universe: Europe, Australasia and the Far East) while limiting short‑term downside risk. The Fund seeks to deliver the price return (excluding dividends) of the iShares MSCI EAFE ETF (a proxy for developed international markets) up to a predetermined upside cap, while providing a structured buffer that absorbs the first 15% of losses in that reference exposure over the outcome period running August 1, 2026, through July 31, 2027. Category and focus - Structured Outcome — Downside Hedge: IDAU is part of the structured‑outcome ETF cohort that uses options and cash management to create a defined risk/return profile rather than attempting to simply track an index. - EAFE niche: The strategy is specifically targeted at non‑U.S. developed markets, making it a focused tool for investors seeking international equity participation with downside protection features. Key features investors should know - Defined protection: The Fund cushions the first 15% of losses in the reference iShares MSCI EAFE ETF over the one‑year term; losses beyond 15% are borne by holders on a dollar‑for‑dollar basis. - Upside limitation: Participation in any gains is limited to an upside cap (to be set and disclosed before the start of the outcome period), so investors trade unlimited upside for downside mitigation. - Price‑return exposure: The Fund aims to replicate price movements only — dividends paid by underlying equities are not captured in the Fund’s return. - Implementation: The outcome is achieved via an options overlay and cash instruments housed within an ETF wrapper, offering daily liquidity but with an outcome realized at maturity; early redemptions can materially change the intended protection. - Suitability: Appropriate for investors seeking tactical or supplemental international equity exposure with explicit, time‑bounded downside protection, who accept capped upside and recognize option, market, and structural risks.