| Investment Objective: |
The NEOS Ethereum High Income ETF (the "Fund") seeks to generate high monthly income with the potential for appreciation based on exposure to exchange-traded products ("ETP") that have direct exposure to Ether. The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by: (i) investing in exchange-traded spot Ether ETPs (the "Spot Ether ETPs") primarily through a controlled foreign corporation and in some cases by directly investing in Spot Ether ETPs, (ii) obtaining indirect exposure to Ether by employing an options strategy that consists of selling (writing) put options and buying call options generally at the same strike price on one or more Ether-related instruments (defined below), and (iii) utilizing a call options strategy to provide high monthly income, which primarily consists of selling (writing) call options on one or more Ether-related instruments. Spot Ether ETPs are funds that track the price of Ether by directly holding actual Ether (called "spot") as their underlying asset. There are two parts to the Ether options strategy: (1) utilizing a "synthetic strategy" to gain exposure to Ether, and (2) writing (selling) call options on one or more Ether-related instruments to generate high monthly income for the Fund. |
