| Investment Objective: |
The Fund seeks to provide investors with returns that generally match the price return (excluding dividends) of the Invesco QQQ Trust, Series 1, up to the upside cap while providing a buffer against the first 15% of Invesco QQQ Trust, Series 1 losses, over the period from May 1, 2026 to April 30, 2027. The Fund obtains this exposure primarily through FLEXible EXchange Options ("FLEX Options") on the Underlying ETF. FLEX Options are exchange-traded options with terms that may be customized within exchange guidelines. The Fund is designed to seek certain target results (the "Outcomes"), including an upside cap (the "Cap") and a downside buffer of 15% (the "Buffer"), based on the performance of the Underlying ETF's share price (i.e., its "price return") over an approximately one-year period beginning May 1, 2026 and ending April 30, 2027 (each, an "Outcome Period"). At the end of an Outcome Period, the Fund expects to realize the cash value of the FLEX Options held for that period and then establish a new set of FLEX Options with expirations generally about one year out, beginning a new Outcome Period. |
