PAPI ETF Profile

Family:	Morgan Stanley
Name:	Parametric Equity Premium Income ETF

Inception Date:	16-Oct-2023
Termination Date:
Investment Objective:	The Fund is an actively managed exchange-traded fund. The investment objective of the Fund is to seek to provide consistent monthly income while maintaining prospects for capital appreciation. The Adviser and Parametric Portfolio Associates LLCseek to fulfill the Fund's objective by using two principal strategies (1) creating an actively-managed portfolio of dividend-paying equity securities that primarily include common stocks of U.S. companies selected from the Russell 3000 Index (the "long equity portfolio"); and (2) selling (writing) option contracts on the SPDR S&P 500 ETF Trust (the "Underlying ETF") or on the S&P 500 Index to generate additional yield. Gain exposure to an actively managed portfolio of U.S. companies that have demonstrated high current income with a systematic call writing program that seeks to generate additional yield.

Prospectus