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 15.15% while providing a buffer against SPDR® S&P 500® ETF Trust losses of between 5% and 35% over the period from May 1, 2024 to April 30, 2025.
he Fund has adopted a policy pursuant to Rule 35d-1 under the 1940 Act to invest, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to the SPDR® S&P 500® ETF Trust (the “Underlying ETF”). It is non-diversified.