Industry description
The investment seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 18.21% while providing a buffer against the first 9% of SPDR® S&P 500® ETF Trust losses, over the period from May 1, 2024 to April 30, 2025.
The fund invests at least 80% of its net assets in FLEX Options that reference the underlying ETF. FLEX Options are exchange-traded options contracts with uniquely customizable terms. It is non-diversified.