The issuer of the FLEXShares Agility Allocation ETF (FMAY) is PDR Services, LLC (PDR). FMAY is an exchange-traded fund that employs a target outcome strategy using Flexible Exchange® Options (FLEX Options) that reference the performance of the SPDR® S&P 500® ETF Trust (the Underlying ETF). PDR Services, LLC serves as the sponsor of the Underlying ETF, which seeks to replicate the price and yield performance of the S&P 500® Index. FMAY utilizes FLEX Options to offer investors customized exposure to the Underlying ETF's performance, with predefined outcomes such as a buffer against the first 10% of Underlying ETF losses and a cap of 17.65% over a Target Outcome Period. The fund's investment sub-advisor is Cboe VestSM Financial LLC, and it provides investors with unique risk management and return potential within the context of the S&P 500® Index.
While the Fidelity MSCI May ETF (FMAY) may not be primarily focused on dividends, it does offer investors exposure to companies within the MSCI ACWI IMI Financials Index, some of which pay dividends. Dividend distributions from FMAY typically follow the individual dividend policies and performances of these financial sector companies. Investors in FMAY may benefit from occasional dividend income alongside potential capital gains, depending on the performance of the underlying index constituents.
Tracking the SPDR® S&P 500® ETF Trust's price performance is the primary objective of the FLEXshares Morningstar US Market Factor Tilt ETF (FMAY). FMAY primarily invests in Flexible Exchange® Options (FLEX Options) tied to the SPDR® S&P 500® ETF Trust (the Underlying ETF). FLEX Options are customized equity or index option contracts that trade on an exchange and allow for customization of key contract terms. The Underlying ETF, SPY, seeks to replicate the performance of the S&P 500® Index by holding a portfolio of the common stocks included in the Index. It adjusts its portfolio periodically to match changes made by the index provider, S&P Dow Jones Indices LLC, to the identity and weightings of Index Securities in the S&P 500® Index. FMAY employs a target outcome strategy through FLEX Options, aiming to provide investors with a buffer against the first 10% of Underlying ETF losses and a cap on potential gains over an approximate one-year Target Outcome Period. The cap and buffer are adjusted at the start of each Target Outcome Period based on market conditions, offering investors a predefined risk-return profile. Investors should note that FMAY's performance is linked to the price movements of the Underlying ETF and that holding shares for an entire Target Outcome Period is crucial for achieving the intended outcomes. While FMAY provides downside protection and upside potential, it's important to understand the cap and buffer levels, which can vary from one Target Outcome Period to another. For more information on FMAY's investment strategy and details about the Target Outcome Period, cap, buffer, and risk factors, please refer to the Fund's prospectus and visit the Fund's website for regular updates on cap ranges and performance information.
The correlation aspect of the FT Cboe Vest US Equity Buffer ETF plays a crucial role in understanding its behavior in relation to the broader U.S. equity market. Since SPDR® S&P 500® ETF primarily invests in FLEX Options that reference the price performance of the SPDR® S&P 500® ETF Trust, its correlation with the S&P 500 Index is expected to be strong. This correlation makes SPDR® S&P 500® ETF an effective tool for investors looking to achieve specific investment outcomes based on the performance of the S&P 500 ETF while also providing downside protection through its buffer strategy. Investors interested in studying these correlations and exploring various investment scenarios can leverage ETF Insider's web app for in-depth data analysis and visualization.
The First Trust Target Outcome Fund (FMAY) primarily invests in flexible exchange options (FLEX Options) tied to the price performance of the SPDR® S&P 500® ETF Trust (SPY). These FLEX Options allow for customized contract terms, including exercise prices and expiration dates. SPY is an ETF that seeks to replicate the performance of the S&P 500® Index by investing in a portfolio of its constituent stocks. FMAY utilizes a target outcome strategy, providing a buffer against the first 10% of SPY losses and a cap on potential gains over an approximate one-year period. The cap and buffer levels change with each Target Outcome Period based on market conditions, making FMAY an ETF with a unique approach to risk management and potential returns.
The exposure characteristic of the SPDR® S&P 500® ETF highlights its unique approach to investment using Flexible Exchange Options (FLEX Options) that reference the price performance of the SPDR® S&P 500® ETF Trust. FLEX Options offer customization of key contract terms, allowing investors to tailor their investment strategy. The Underlying ETF, SPDR® S&P 500® ETF Trust, replicates the S&P 500® Index and serves as the benchmark for this ETF. For a deeper understanding of the exposure and investment outcomes, investors can leverage ETF Insider's web app, which provides comprehensive data and visualizations for various U.S. ETFs, including overlap and correlations analysis.
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