Industry description
The investment seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust.
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 option contracts with uniquely customizable terms. The underlying ETF invests in equity securities of companies, including companies with large capitalizations. The fund is non-diversified.