Industry description
The investment seeks to provide investors with returns that, before fees and expenses of the fund, match those of the SPDR®S&P 500®ETF Trust up to a predetermined upside cap of15.50% (before fees and expenses of the fund) and 14.75% (after fees and expenses of the fund), while providing a buffer against the first 15% of Underlying ETF losses, over the period from October 2, 2023 to September 30, 2024.
The fund is an actively managed ETF that, under normal market conditions, invests substantially all of its assets in FLEX Options that reference the market price of the SPDR® S&P 500® ETF Trust. The fund is non-diversified.