| Investment Objective: |
The Fund seeks to provide, at the end of the current Outcome Period, returns that track the share price returns of the SPDR S&P 500 ETF Trust (the "Underlying ETF") that are in excess of the Spread in positive market environments, while providing downside protection with a Buffer against the first 15% of Underlying ETF losses. The stated Spread and Buffer are before Fund fees and expenses. The current Outcome Period is from February 1, 2025 to January 31, 2026. The Spread represents the opportunity cost (i.e., the upside performance a shareholder forgoes) in return for the downside protection provided by the Buffer. Specifically, the Fund intends to invest substantially all of its assets in FLexible EXchange Options ("FLEX Options") that reference the Underlying ETF. FLEX Options are customized equity or index options contracts that trade on an exchange, but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. |
