PSMJPacer Swan SOS Moderate (July) ETF
PSMJ Fund Description
PSMJ aims for specific buffered losses and capped gains on the SPDR S&P 500 ETF over a specific holdings period. The actively-managed fund holds options and collateral.
PSMJ Factset Analytics Insight
PSMJ uses flex options in an effort to moderate losses on the SPY ETF over a one-year period starting each July. The fund foregoes some upside return of SPY’s dividend as options are written on the price (not total) return version of the index. The fund compensates for the first 15% losses on SPY, beyond it, the fund will experience all subsequent losses on a one-to-one basis. In exchange for preventing the realization of SPY’s losses, investors forego upside participation above a certain threshold, which is reset annually. Investors who buy at any other time than the annual reset day may have a very different protection and buffer zone. The issuer publishes effective interim levels daily on its website. The fund must be held to the end of the period to achieve the intended results. The targeted buffers and caps do not include the fund’s expense ratio. The fund is actively managed and resets annually.
PSMJ Summary Data
PSMJ Portfolio Data
PSMJ Index Data
PSMJ Portfolio Management
PSMJ Tax Exposures
PSMJ Fund Structure
PSMJ Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of PSMJ. PSMJ is rated a N/A out of 5.
PSMJ Top 10 Holdings
PSMJ Economic Development
PSMJ Performance Statistics
PSMJ Benchmark Comparison Summary
PSMJ Benchmark Comparison Market Cap Size
Options Strategies for Outcome Investing
A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.