Industry description
The investment seeks to provide investors with returns that are twice those of the SPDR® S&P 500® ETF Trust, up to the upside cap of 12.32% while providing a buffer against the first 9% of SPDR® S&P 500® ETF Trust losses, over the period from July 1, 2024 through June 30, 2025.
The fund invests at least 80% of its net assets in a portfolio of FLexible EXchange® Options (“FLEX Options”) that reference the SPDR® S&P 500® ETF Trust (the “Underlying ETF”), an exchange-traded fund registered under the Investment Company Act of 1940 (the “1940 Act”). It is non-diversified.