Industry description
The investment seeks to provide investors with returns that match the price return of the iShares Russell 2000 ETF, up to a predetermined upside cap of 17.93% while providing a buffer against the first 15% of Underlying ETF losses, over the period from May 20, 2024 through May 16, 2025.
Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange® Options (“FLEX Options”) that reference the price performance of the iShares Russell 2000 ETF (the “Underlying ETF”). The fund is non-diversified.