The Fund invests at least 80% of its net assets in instruments with economic characteristics similar to U.S. large cap equity securities. Specifically, the Fund intends to invest substantially all of its assets in FLexible EXchange Options that reference the Underlying ETF. FLEX Options are customized equity or index options contracts that trade on an exchange but provide investors with the ability to customize key contract terms like exercise prices, styles and expiration dates. An options contract is an agreement between a buyer and seller that gives the purchaser of the option the right, but not the obligation, to buy (in the case of a call option), or to sell, a particular asset at a specified future date at an agreed upon price. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended.