| Investment Objective: |
The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in a combination of options ("Options Strategy") and U.S. Treasuries/Synthetic U.S. Treasuries ("Treasury Strategy"). The Fund primarily seeks capital appreciation by investing in options contracts on the Nasdaq 100 Index (the "Nasdaq Index"). The Fund's Options Strategy aims to capture equity market appreciation by providing synthetic long exposure to the Nasdaq Index ("Synthetic Equity Exposure"). In addition to its Synthetic Equity exposure, the Fund's Treasury Strategy allocates to U.S. Treasury securities and Synthetic U.S. Treasuries, primarily for principal protection purposes. Together, these strategies are designed to balance equity market participation with risk mitigation, establishing a "downside protection target "that seeks to limit significant market losses, generally targeting a maximum loss of approximately 18% per rolling twelve-month period, with each measurement period beginning following either (i) a risk-reduction trade, executed after gains, that reduces the Fund's target allocation to its option sleeve, or (ii) the expiration or closure of option positions and subsequent re-establishment of option exposure (the "measuring period"). |
