BATS | ETF
Under normal market conditions, at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to securities included in the S&P 500 Index.
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").
The fund is non-diversified.