OCTP's investment objective is to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12% (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the Target Outcome Period. In seeking to achieve this investment objective, the Fund’s upside cap over the period May 17, 2024 through September 30, 2024 is 5.45%. Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to equity securities issued by large-capitalization U.S. companies. 

PBOC’s investment objective is to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20% (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the Target Outcome Period. In seeking to achieve this investment objective, the Fund’s upside cap over the period May 17, 2024 through September 30, 2024 is 4.71%. The Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to equity securities issued by large-capitalization U.S. companies.

WEEL is an actively managed exchange traded fund that seeks current income. The Fund’s strategy consists of two main components firstly, investing in a range of sector-specific ETFs and, in some instances, individual securities and secondly, implementing an “option wheel strategy.” Option Wheel Strategy is a systematic approach to options trading where a trader continuously sells cash secured put options to generate income and potentially acquire an underlying asset at a lower price (if the sold put option is assigned to the Fund), and then, when the reference asset is assigned, sells covered call options against the acquired asset to generate additional income until the asset is called away. At that point, the cycle starts over. 

OCFS seeks long-term capital appreciation. The Fund is an actively-managed exchange-traded fund (“ETF”) that invests in U.S.-listed equity securities of small- and mid-capitalization companies. The Fund invests primarily in publicly traded stocks of U.S. companies which the Advisor considers to have a small to mid-size market capitalization. The Fund defines a small- or mid-capitalization company as those whose market capitalization, at the time of purchase, ranges from $500 million to $60 billion. The Fund may invest up to 20% of its total assets in U.S. dollar denominated foreign equity securities, including through American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) issued by U.S. depository banks, which are traded on U.S. exchanges. 

The investment objective of QMMY is to seek to provide investors with returns (before fees and expenses) that match the price return of the Invesco QQQ Trust, Series 1 (the “Underlying ETF”), up to a predetermined upside cap of 15.93% while providing a buffer (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from May 20, 2024 through May 16, 2025. The investment objective of the Underlying ETF is to seek to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Nasdaq-100 Index.

The investment objective of XMAY is to seek to provide investors with returns (before fees and expenses) of approximately twice any positive price return of the SPDR S&P 500 ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 10.78% while providing a buffer (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from May 20, 2024 through May 16, 2025. The investment objective of the Underlying ETF is to seek to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the S&P 500 Index.

GDXY is an actively managed exchange-traded fund (“ETF”) that seeks current income while providing indirect exposure to the share price (i.e., the price returns) of GDX (NYSE Arca GDX), subject to a limit on potential investment gains. The Fund will employ its investment strategy as it relates to GDX regardless of whether there are periods of adverse market, economic, or other conditions and will not take temporary defensive positions during such periods. 

SPTB aims to track the performance of the Bloomberg U.S. Treasury Index (the “Index”). The Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, either may invest the Fund’s assets in a subset of securities in the Index or may invest the Fund’s assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the Fund in pursuing its objective.

GENM is actively managed and will not seek to replicate the performance of an index. Under normal market conditions, the Fund invests at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. While these securities will be exempt from federal income taxes, a significant portion of these securities could be subject to the alternative minimum tax. The Fund normally invests in municipal obligations rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the Subadvisor to be of comparable quality at the time of purchase. The Fund may invest up to 30% of its net assets in municipal obligations rated BBB by S&P, Fitch or Moody’s or, if unrated, determined by the Subadvisor to be of comparable quality.

GENT is actively managed and will not seek to replicate the performance of an index. Under normal market conditions, the Fund intends to invest at least 80% of its net assets in investment grade, intermediate term securities. The term “taxable” in the Fund’s name refers to taxable fixed income instruments and the term “quality” in the Fund’s name refers to investment grade securities. 

OZEM is an actively managed exchange-traded fund (“ETF”) that pursues its investment objective by seeking to provide exposure to companies involved in the development of pharmaceutical drugs and/or supplements that can be utilized to help individuals lose weight, maintain an ideal weight, and/or maintain body composition during weight loss (“GLP-1 & Weight Loss Drugs”). The Fund will focus its investments in the securities of companies that are the acknowledged leaders in the development of GLP-1 & Weight Loss Drugs, which it defines as those companies that have GLP-1 & Weight Loss Drugs currently undergoing Phase I, Phase II, and/or Phase III of U.S. Food & Drug Administration (“FDA”) clinical trials and in securities of companies with GLP-1 & Weight Loss Drugs that have been approved by the FDA (“GLP-1 & Weight Loss Companies”). 

THNR provides access to global companies involved in the pharmaceutical manufacturing of GLP-1 agonist or enablers of such businesses. THNR seeks investment results that generally correspond to the performance (before fees and expenses) of the VettaFi Weight Loss Drug & Treatment Index. The Index is comprised of global companies who are manufacturers in the GLP-1 agonist (glucagon-like peptide) pharmaceutical business or who enable such business. GLP-1 agonists seek to lower blood sugar levels and reduce appetite and promote fullness, with the ultimate potential for weight loss. 

IBDZ seeks to track the investment results of an index composed of U.S. dollar-denominated, investment grade corporate bonds maturing in 2034. The Fund seeks to meet its investment objective generally by investing in component securities of the Bloomberg December 2034 Maturity Corporate Index (the “Underlying Index”). The Fund may also invest in other exchange-traded funds (“ETFs”), U.S. government securities, short-term paper, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates. The Fund is a term fund that will terminate on or about December 15, 2034, at which time it will distribute its remaining net assets to shareholders pursuant to a plan of liquidation. The Underlying Index consists of U.S. dollar-denominated, investment-grade securities publicly issued by U.S. and non-U.S. corporate issuers that have 300 million or more of outstanding face value at the time of inclusion. The non-U.S. corporate issuers included in the Underlying Index consist primarily of corporate bonds issued by companies domiciled in developed countries.

IBHK seeks to track the investment results of an index composed of U.S. dollar-denominated, high yield and other income generating corporate bonds maturing in 2031. The Fund seeks to meet its investment objective generally by investing in component securities of the Bloomberg 2031 Term High Yield and Income Index (the “Underlying Index”). The Fund may also invest in other exchange-traded funds (“ETFs”), U.S. government securities, short-term paper, cash and cash equivalents, including shares of money market funds advised by BFA or its affiliates. The Fund is a term fund that will terminate on or about December 15, 2031, at which time it will distribute its remaining net assets to shareholders pursuant to a plan of liquidation. 

IBIK seeks to track the investment results of an index composed of inflation-protected U.S. Treasury bonds maturing in 2034. The Fund seeks to track the investment results of the ICE 2034 Maturity US Inflation-Linked Treasury Index (the “Underlying Index”), which consists of inflation-protected public obligations of the U.S. Treasury, commonly known as “TIPS,” that are scheduled to mature between January 1, 2034 and October 15, 2034, inclusive. The Fund is a term fund that will terminate on or about October 15, 2034, at which time it will distribute its remaining net assets to shareholders pursuant to a plan of liquidation. 

IBMS seeks to track the investment results of an index composed of investment-grade U.S. municipal bonds expected to mature or be redeemed before December 2, 2030. The Fund seeks to track the investment results of the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2030 Index (the “Underlying Index”), which is a market-value-weighted index that seeks to measure the performance of investment-grade, tax-exempt, U.S. municipal bonds, reducing callable bonds before 2030, and only including non-callable bonds maturing in 2030. 

NOVP’s investment objective is to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12% (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the Target Outcome Period. In seeking to achieve this investment objective, the Fund’s upside cap over the period May 22, 2024 through October 31, 2024 is 6.43%. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to equity securities issued by large-capitalization U.S. companies.

PBNV’s investment objective is to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20% (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the Target Outcome Period. In seeking to achieve this investment objective, the Fund’s upside cap over the period May 22, 2024 through October 31, 2024 is 5.53%. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to equity securities issued by large-capitalization U.S. companies. The Fund is an actively managed exchange-traded fund (“ETF”).

DECP’s investment objective is to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 12% (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the Target Outcome Period. In seeking to achieve this investment objective, the Fund’s upside cap over the period May 24, 2024 through November 30, 2024 is 7.66%. Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to equity securities issued by large-capitalization U.S. companies. 

PBDE’s investment objective is to provide investors with returns that match the price return of the SPDR S&P 500 ETF Trust up to a predetermined upside cap while providing a downside buffer against the first 20% (before fees and expenses) of the SPDR S&P 500 ETF Trust’s losses over the Target Outcome Period. In seeking to achieve this investment objective, the Fund’s upside cap over the period May 24, 2024 through November 30, 2024 is 6.46%. The Fund will invest substantially all of its assets in customized equity or index option contracts known as FLexible EXchange Options (“FLEX Options”) on the SPDR S&P 500 ETF Trust (the “Underlying ETF”).

URAX seeks daily leveraged investment results of two times (200%) the daily percentage change in the share price of the Global X Uranium ETF (NYSE Arca URA) (the “Underlying Security” or “URA”). The Fund is an actively managed exchange traded fund (“ETF”) that attempts to achieve two times (200%) the daily percentage change in the share price of the Underlying Security by entering into swap agreements on the Underlying Security. The Fund aims to achieve this daily percentage change for a single day, and not for any other period. A “single day” means the period “from the close of regular trading on one trading day to the close on the next trading day.” 

RSSY seeks long-term capital appreciation. The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in two complimentary investment strategies, a U.S. Equity strategy and a Futures Yield strategy. The Fund uses leverage to “stack” the total return of holdings in the Fund’s U.S. Equity strategy together with the potential returns of the Fund’s Futures Yield strategy. Essentially, one dollar invested in the Fund provides approximately one dollar of exposure to the Fund’s U.S. Equity strategy and approximately one dollar of exposure to the Fund’s Futures Yield strategy. So, the return of the Futures Yield (minus the cost of financing) strategy is essentially stacked on top of the returns of the U.S. Equity strategy. 

The investment objective of BUFS is to seek to provide investors with capital appreciation. The Fund seeks to achieve its investment objective by providing investors with small cap equity market exposure while attempting to limit downside risk through a laddered portfolio of FT Vest U.S. Small Cap Moderate Buffer ETFs (the “Underlying ETFs”). Under normal market conditions, the Fund will invest substantially all of its assets in the Underlying ETFs, which seek to provide investors with returns (before fees and expenses) that match the price return of IWM, up to a predetermined upside cap, while providing a buffer (before fees and expenses) against the first 15% of IWM losses, over a defined one-year period.

MFUT seeks to preserve capital and generate long-term capital appreciation. The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing pursuant to a trend following program (the “Trend Strategy”). Using the Trend Strategy, the Fund will invest in futures contracts and futures-related instruments (such as forwards) and spot contracts in global markets across a wide range of asset classes, including equities, fixed income, currencies and commodities. In addition, the Fund invests in cash, short-term U.S. Treasury securities, money market funds, and cash equivalents (the “Cash Strategy”). 

SECR seeks total return with an emphasis on current income. The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in securitized assets, which include commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), agency and non-agency residential mortgage-backed securities (RMBS), collateralized mortgage obligations (CMOs), and collateralized loan obligations (CLOs). The Fund’s securitized credit securities may be fixed-rate or adjustable-rate securities. The Fund may invest in agency mortgaged-backed securities (MBS), which include mortgage pass-through securities representing interests in pools of mortgage loans issued or guaranteed by government-sponsored enterprises such as Government National Mortgage Association (GNMA), the Federal National Mortgage Association (FNMA), or the Federal Home Loan Mortgage Corporation (FMLMC).