| Investment Objective: |
The Fund is an actively managed ETF that seeks to achieve its investment objective through a combination of options ("Options Strategy") and U.S. Treasuries ("Treasury Strategy"). The Fund primarily seeks capital appreciation by investing in options contracts on the S&P 500 Index (the "Index") which are considered synthetic holdings of the Index. The Fund's Options Strategy aims to capture equity market appreciation by providing synthetic long exposure to the Index. In addition to its synthetic equity exposure, the Fund allocates to U.S. Treasury securities primarily for principal protection. Together, these strategies are designed to balance equity market participation with risk mitigation, establishing a "floor" that seeks to limit significant market losses, generally targeting a maximum loss of approximately 15% per one-year rolling period. The Fund's Options Strategy seeks to capture equity market appreciation through synthetic long exposure (the use of derivatives designed to derive performance over the long term from a direct investment) to the Index. The majority of the Fund's portfolio will be allocated to U.S. Treasury securities, primarily seeking to provide principal protection through the safety of short-duration U.S. Treasuries. |
