The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective through multiple combinations of synthetic long and short exchange-listed options positions, collectively known as a Box Spread (“Box Spread”).
The Fund’s synthetic long position is created through the purchase of a call option and sale of a put option, purchased or sold on the same reference asset, strike price and expiration date. The Fund’s synthetic short position is created through the purchase of a put option and sale of a call option, purchased or sold on the same reference asset and expiration date as the synthetic long position, but at a higher strike price from the synthetic long position. The synthetic long and short options positions, in combination, are designed to offset one another, creating a market-neutral position with a fixed payoff at expiration of the options contracts.
The Fund intends to use options on diversified securities, such as broad-based indexes and ETFs, for substantially all of the Fund’s holdings. However, the Fund has the ability to invest in other types of securities if the Adviser determines such an investment is to the benefit of the Fund and its shareholders. The Fund is classified as “non-diversified” under the Investment Company Act of 1940 (the “1940 Act”).
Investors should consider the investment objectives, risk, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about Roundhill ETFs please call 1-855-561-5728 or visit the website at www.roundhillinvestments.com/etf/. Read the prospectus or summary prospectus carefully before investing.