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 a predetermined upside cap of 15.93% while providing a buffer against the first 10% of Underlying ETF losses, over the period from June 24, 2024 through June 20, 2025.
Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange® Options that reference the price performance of the SPDR® S&P 500® ETF Trust. It is non-diversified.