| Investment Objective: |
NEOS S&P 500 Hedged Equity Income ETF is an actively-managed exchange-traded fund that seeks to achieve its investment objective principally by investing in a portfolio of the stocks included in the S&P 500 Index and a put spread options collar on the S&P 500. The Fund seeks to generate tax efficient monthly income from a combination of the dividends received from the Fund's equity holdings and the premiums earned from the put spread options collar. The put spread options collar seeks to generate a net-credit by receiving premium from the sale of the call and put options that is greater than the cost of buying the protective put options. The put spread options collar is designed to reduce the Fund's volatility and provide a measure of downside protection, but upside gains will be limited. The S&P 500 is a market capitalization weighted index comprised of the securities of approximately 500 leading U.S.-listed companies representing approximately 80% of the U.S. equity market capitalization. The Fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Reference Index concentrates in an industry or group of industries. |
