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 14.24% while providing a buffer against the first 15% of SPDR® S&P 500® ETF Trust losses, over the period from January 1, 2024 to December 31, 2024.
The fund invests at least 80% of its net assets in FLexible EXchange® Options that reference the SPDR® S&P 500® ETF Trust. FLEX Options are exchange-traded options contracts with uniquely customizable terms. The fund is non-diversified.