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SPEN
 Cboe S&P 500 Enhanced Growth Index Series
Last Sale

3024.67

Change

+6.13 (+0.20%)

Open

3024.67

High

3024.67

Low

3024.67

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3018.54

Cboe S&P 500 Enhanced Growth Index Series
  • Overview
  • Performance
     

Introduction

The Cboe S&P 500 Enhanced Growth Index Series (the "Indices") is part of a family of Target Outcome Indices. The Indices are designed to provide target outcome returns linked to the US domestic stock market.

The Indices measure the performance of a portfolio of hypothetical exchange traded Flexible Exchange® Options ("FLEX® Options") that are based on the S&P 500® Index. Each series in the index is designed to track the returns of a hypothetical investment that over a period of approximately one year seeks to provide 2x leveraged returns on the appreciation of the S&P 500 Index up to a capped level while providing one-to-one exposure to any losses due to a decline in the index. The capped level is determined on each annual roll date such that there is no premium or discount to enter into the hypothetical investment compared to an investment in the Index.

The Index Series comprises 13 series.

There are 12 monthly series that roll on the third Wednesday of each month:

  • Cboe S&P 500 Enhanced Growth Index January Series (Ticker: SPEN01)
  • Cboe S&P 500 Enhanced Growth Index February Series (Ticker: SPEN02)
  • Cboe S&P 500 Enhanced Growth Index March Series (Ticker: SPEN03)
  • Cboe S&P 500 Enhanced Growth Index April Series (Ticker: SPEN04)
  • Cboe S&P 500 Enhanced Growth Index May Series (Ticker: SPEN05)
  • Cboe S&P 500 Enhanced Growth Index June Series (Ticker: SPEN06)
  • Cboe S&P 500 Enhanced Growth Index July Series (Ticker: SPEN07)
  • Cboe S&P 500 Enhanced Growth Index August Series (Ticker: SPEN08)
  • Cboe S&P 500 Enhanced Growth Index September Series (Ticker: SPEN09)
  • Cboe S&P 500 Enhanced Growth Index October Series (Ticker: SPEN10)
  • Cboe S&P 500 Enhanced Growth Index November Series (Ticker: SPEN11)
  • Cboe S&P 500 Enhanced Growth Index December Series (Ticker: SPEN12)

Monthly Indexes SPEN

In addition, there is one balanced index that is a composite of the 12 monthly series, where each monthly series is allocated an equal weight at each monthly roll date:

  • Cboe S&P 500 Enhanced Growth Balanced Series (SPEN)
Balanced Index SPEN

Target Outcome Returns

The Indices are part of the outcome based approach to investing. Many investments target speculative returns, with uncertain levels of risk, over an uncertain period of time. While opportunistic, this approach to investing brings a high degree of uncertainty. Outcome based investing encourages targeting a specific defined return or "payoff", with an allowance for a specific defined risk, at a specific point in time in the future.

Enhanced Growth Option Strategy

An Enhanced Growth Option Strategy is a leveraged strategy that is generally used in a range-bound or modest bull market environment. It seeks to provide 2 times leveraged upside up to a predetermined cap and one-to-one exposure on the downside. The strategy seeks to provide similar returns to the S&P 500 Index, with similar volatility and downside risk, but higher upside potential in market environments with modest gains.

  
    
Critical Periods
    
The performance quoted represents past performance and does not guarantee future results.