EFAA

EFAA seeks to generate income and capitalize on market upsides through a mix of equities and options premiums. For its equity portfolio, the fund invests in stocks of the MSCI EAFE Index and related US ETFs. The index includes large- and mid-cap stocks in developed markets ex-North America. For its options-based component, EFAA utilizes equity-linked notes (ELNs). These ELNs incorporate covered call and/or cash-secured put strategies, designed to provide income and some downside protection to the declines of its equity portfolio. This approach introduces counterparty risk. To further manage risks, EFAA holds a substantial portion of its assets in cash or cash equivalents, limiting its exposure to the volatility of the equity market. The adviser dynamically adjusts the portfolio based on market conditions to balance yield, performance, and risk. At its launch, the fund provided a fee waiver to attract investors. Prospective investors should review associated expenses before investing.