| Investment Objective: |
The Fund employs a "defined outcome strategy." 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 (the "Underlying ETF"), over an approximately one-year period from May 1 through April 30 of the following year (the "Outcome Period"). The current Outcome Period is from August 1, 2026 through July 31, 2027. The Fund seeks to provide investors with (1) capital appreciation by (i) participating in the positive returns of the Underlying ETF, up to the Upside Cap (prior to taking into account management fees and other fees) over the Outcome Period and (ii) if the Underlying ETF experiences negative returns over the course of the Outcome Period that are less than or equal to Inverse Performance Threshold, provide positive returns that match the absolute value of the Underlying ETF losses for the Outcome Period; and (2) buffered returns against Underlying ETF losses that are 15% less than the Underlying ETF's losses over the course of the Outcome Period (prior to taking into account management fees and other fees), if Underlying ETF losses exceed the Inverse Performance Threshold. |
