The investment seeks to provide investors with returns that match the price return of the SPDR ® S&P 500 ® ETF Trust.
The fund invests at least 80% of its net assets in FLexible EXchange ® Options (“FLEX Options“) that reference the SPDR ® S&P 500 ® ETF Trust. The reference asset for all of the fund's FLEX Options is the underlying ETF, an exchange-traded unit investment trust that seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of the S&P 500 ® Index. The fund is non-diversified.
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