Under normal market conditions, the Fund will invest substantially all of its assets in FLexible EXchange Options (FLEX Options) that reference the price performance of the Underlying ETF and short-term (one year or less) U.S. Treasury securities. The Fund uses FLEX Options to employ a target outcome strategy. Target outcome strategies seek to produce pre-determined investment outcomes based upon the performance of an underlying security or index. The pre-determined outcomes sought by the Fund include a buffer against the first 10% of Underlying ETF losses and a consistent level of income (from a combination of any interest on the U.S. Treasury securities and premiums on the FLEX Options) that, when annualized, is approximately 8.19% (before fees and expenses) over an approximate one-year period (the Target Outcome Period). Investors that hold shares for the entire Target Outcome Period will not participate in any positive price returns of the Underlying ETF above the Underlying ETF price on the first day of the Target Outcome Period, however, investors will be subject to losses of the Underlying ETF below the buffer level. The Fund's performance will not reflect the payment of dividends by the Underlying ETF. When the Fund's fees and expenses are taken into account, the approximate annualized level of income is 7.34%. The income level and buffer will be further reduced by any brokerage commissions, trading fees, taxes and extraordinary expenses not included in the Fund's management fee. In general, the target outcomes the Fund seeks for investors that hold Fund shares for an entire Target Outcome Period are as follows, though there can be no guarantee these results will be achieved: