Group 1 - The Pacer Swan SOS Moderate (December) ETF employs a structured-outcome options overlay to manage S&P 500 exposure, providing a defined downside buffer and an upside cap that resets annually in December [1] - The investment strategy focuses on FLEX options collateralized by cash and cash equivalents, aiming for consistent option terms and effective collateral management to reduce slippage and financing drag [1] - The ETF's construction involves a combination of call and put FLEX positions to achieve buffered equity beta within predetermined ranges, while residual cash is managed for liquidity and settlement purposes [1] Group 2 - Day-to-day risk management includes monitoring path dependency, cap proximity, and buffer efficacy as market conditions change, with secondary-market purchases adjusting to the current outcome profile [1] - Rebalancing of the portfolio is typically aligned with option rolls at the outcome reset or to maintain the intended exposure in response to corporate actions or changes in index methodology affecting option underliers [1]

Nasdaq-100 10 Buffer ETF (QBUF US) – Portfolio Construction MethodologyThe investment strategy governing the actively managed Nasdaq-100 10 Buffer ETF seeks equity-market participation linked to the Invesco QQQ Trust over rolling three-month outcome periods with a target 10% downside buffer and an upside cap. The fund implements a defined-outcome structure using exchange-listed FLEX options referencing QQQ, held alongside cash and short-term U.S. instruments. Option strikes and expirations are calibrated ea ...

FT Vest Nasdaq-100 Conservative Buffer ETF (QCAP US) – Portfolio Construction MethodologyThe investment strategy underlying the actively managed FT Vest Nasdaq-100 Conservative Buffer ETF governs a target-outcome approach to Nasdaq-100 equity risk using OCC-cleared FLEX options referencing the Invesco QQQ Trust. The portfolio engineers a defined one-year outcome period that resets each April, combining purchased put options to establish a 20% downside buffer and written call spreads to finance protection an ...