BUFG

BUFG is a basket of defined outcome buffer ETFs. It consists of five to seven equity buffer funds, taken from a universe of defined outcome ETFs (U.S. Equity Buffer, U.S. Equity Deep Buffer, and U.S. Equity Enhance & Moderate Buffer) offered by the issuer. Each underlying ETF has exposure to SPY's capped gains and provides buffer to either the first 10%, first 15%, or 5%-30% of losses, over a defined one-year period. For selection and weighting, the fund adviser considers various factors including the current price of SPY, NAV, target outcome period, implied volatility, price sensitivity, remaining cap, and remaining buffer. Underlying ETFs are also selected such that the resulting portfolio has an optimal upside growth participation, while providing some downside protection. The portfolio is evaluated on a monthly basis. Information on BUFG's exposure to the underlying ETFs is provided daily on the issuer's website.