US Equity Ex-Dividend Fund SER 2027 (XDIV) Covered Calls

There are no covered calls available for US Equity Ex-Dividend Fund SER 2027.

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Extended Business Description

The investment seeks long term returns by replicating the price returns of the SPDR S&P 500® ETF (SPY) while being credited up front for the 10-years of ordinary dividends via a lower initial purchase price, as represented by the Solactive US Ex-Dividends Index—Series 2027. The manager intends to replicate the returns of SPY through owning long positions in quarterly S&P 500 Index futures contracts traded on the CME rather than shares of SPY. Additionally, the manager intends to track the performance of the Solactive Ex-Dividend Index by selling annual S&P 500 Dividend Futures Contracts out to the maturity date of the fund.