What is PSMR?

PSMR aims for specific buffered losses and capped gains on SPDR S&P 500 ETF over a specific holdings period. The actively-managed fund holds options and collateral.

PERFORMANCE [as of 11/25/22] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
PSMR 2.59% -1.14% -3.14% -2.50% -- -- --
PSMR (NAV) 2.46% -0.92% -2.70% -2.22% -- -- --
No Underlying Index -- -- -- -- -- -- --
MSCI USA Large Cap Index 3.93% -4.18% -15.69% -14.67% 10.41% 11.19% 13.30%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

PSMR Factset Analytics Insight

PSMR uses flex options in an effort to moderate losses on SPY ETF over a one-year period starting each April. 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 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.

PSMR Summary Data

03/31/21
0.75%
$18.38M
No Underlying Index
MSCI USA Large Cap Index
Open-Ended Fund

Peers

MSCI USA Large Cap Index

Fund Flows

$0.00B 5 Days
-$0.00B 30 Days
-$0.00B 90 Days

PSMR Portfolio Data

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N/A
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PSMR Index Data

No Underlying Index
Fixed
Fixed
MSCI USA Large Cap Index

PSMR Portfolio Management

0.75%
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PSMR Tax Exposures

20.00% / 39.60%
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Ordinary income
No

PSMR Fund Structure

Open-Ended Fund
No
No
-- / --
N/A
N/A
High
Daily

Factset Analytics Block Liquidity

As of 11/28/22

This measurement shows how easy it is to trade a $1 million USD block of PSMR. PSMR is rated a N/A out of 5.

PSMR Tradability

1,083
$22.36K
0
0
0.49%
$0.10
-0.06%
0.44% / -0.68%
None
--
50,000
0
0.02%
--
0
$21.63
N/A

PSMR Top 10 Holdings

99.76%
0.24%
100.00%

PSMR Performance Statistics

0.91
0.51
0.55
0.53
0.79%
MSCI USA Large Cap Index

PSMR Benchmark Comparison Holdings

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PSMR Benchmark Comparison Summary

PSMR Segment
Benchmark
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PSMR Benchmark Comparison Market Cap Size

PSMR Segment
Benchmark
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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.