Industry description
The investment seeks to provide investors, over the period from April 1, 2025 to March 31, 2026, with an investment that provides a high level of income through a Defined Distribution Rate of 6.16% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% of SPDR® S&P 500® ETF Trust losses.
The fund is an actively managed exchange-traded fund (“ETF”) that invests in U.S. Treasury bills (the “U.S. Treasuries”) and FLexible EXchange® Options (“FLEX Options”) that use as a reference asset, the SPDR® S&P 500® ETF Trust (the “Underlying ETF”). The fund is non-diversified.