You are now leaving BlackRock’s website

You are leaving BlackRock’s website and entering a third-party website that is not controlled, maintained, or monitored by BlackRock. BlackRock is not responsible for the content or availability of the third-party website. By leaving BlackRock’s website, you will be subject to the third-party website’s terms, policies and/or notices, including those related to privacy and security, as applicable. Please review such policies and notices on the third-party website.

Buffer active ETFs

Protect against downside performance whilst also capturing market upside.

Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.

USDB

iShares US Large Cap Deep Buffer UCITS ETF

Seeks a level of downside protection against losses while maintaining US large cap exposure.

View USDB

MAXS

iShares US Large Cap Max Buffer Sep UCITS ETF

Seeks to maximise protection over one year by limiting losses during market declines, while participating in gains from US large cap equities up to a predefined maximum level.

View MAXS

TEND

iShares US Large Cap Moderate Buffer Dec UCITS ETF

Seeks to provide a level of downside protection by limiting the impact of market declines within a predefined range over a set period, while offering capped upside exposure to US large cap equities.

View TEND

Why iShares for buffer ETFs?

DOWNSIDE CUSHION

We aim to provide choice so you can select the buffer that may suit your goals: Max (up to approximately 100% protection annually), Deep (aims -5% to -20% protection quarterly), or Moderate (aims 0% to - 10% protection annually).

UPSIDE PARTICIPATION

Our products are designed to capture growth in rising markets until the strategy reaches its upside cap.

S&P 500 EXPOSURE

These active ETFs provide US Large Cap exposure through iShares’ swap platform, seeking to offer efficient access to the S&P 500.1

Risk management cannot fully eliminate the risk of investment loss

Explore the range

1Bloomberg, Market Insights, 31 November 2025

BlackRock

© 2026 BlackRock, Inc. All Rights Reserved.