| Investment Objective: |
The Fund employs a defined outcome strategy. Defined outcome strategies seek to produce pre-determined investment outcomes based upon the performance of an underlying security or index. The pre-determined outcomes sought by the Fund, which include the buffer, inverse performance and upside cap discussed below ("Outcomes"), are based upon the performance of an ETF that tracks the returns, before fees and expenses, of the S&P 500 Index, over an approximately one-year period from February 1 through January 31 of the following year. The current Outcome Period is from February 1, 2026 through January 31, 2027. The Fund invests in FLexible EXchange Options that reference the Underlying ETF and, as further described in this prospectus, may invest directly in the Underlying ETF or in the constituents of the Underlying ETF, to produce the Outcomes. FLEX Options are customizable exchange-traded option contracts guaranteed for settlement by the Options Clearing Corporation. The Fund seeks to provide shareholders that hold shares of the Fund ("Shares") for the entire Outcome Period with a "dual direction" of positive returns, meaning the possibility of positive returns regardless of the direction of performance of the Fund's reference asset. |
