This fund allocates at least 80% of its total assets to a portfolio of Flexible EXchange® Options (known as FLEX Options). These options derive their value from the performance of the SPDR® S&P 500® ETF Trust, which serves as the "Underlying ETF" and is an exchange-traded fund registered in accordance with the Investment Company Act of 1940. The Underlying ETF aims to mirror the investment outcomes of the S&P 500 Index, a benchmark composed of 500 leading U.