Industry description
The investment seeks capital appreciation with a measure of downside protection by providing investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 2.73% while seeking to provide a buffer against the first 20% of SPDR® S&P 500® ETF Trust losses, over the period from July 1, 2024 to September 30, 2024.
The fund invests at least 80% of its net assets in FLexible EXchange® Options ("FLEX Options") that reference the SPDR® S&P 500® ETF Trust (the "Underlying ETF"). FLEX Options are exchange-traded options contracts with uniquely customizable terms. The fund is non-diversified.