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SAUG is an actively managed “buffered outcome” ETF designed to shape your one-year return profile on the iShares Russell 2000 ETF (IWM), with the outcome period starting in August. It uses exchange-traded FLEX options (customizable options contracts) to seek a defined loss buffer while also placing a cap on gains; it also targets the price return of IWM (not total return). Results are most aligned when held for the full outcome window, then the strategy resets for a new year and the cap can change with market conditions.
You mainly own options contracts tied to the price of IWM, plus collateral (cash-like holdings) to support those options. The goal is to soften the first part of a small-cap drop, but you give up dividends and some upside because gains are capped.
Provides downside buffer protection with capped upside over a defined outcome period.
