- Fund offers downside protection with upside participation in equities
- Fund provides access to a novel options-based strategy designed to reduce uncertainty in a volatile market
- Fund was first-to-market in the fast-growing defined outcome investment
MCLEAN, VA / ACCESSWIRE / March 6, 2020 / Cboe Vest Financial LLC (“Cboe Vest”), the inventor of Target Outcome Investments, announced today that its Cboe Vest S&P 500 Buffer Strategy Fund (the “Fund”), featuring a unique risk-management strategy, received a 2020 Refinitiv Lipper Fund Award1 for its institutional share class (NASDAQ:BUIGX).
The Refinitiv Lipper Fund Awards 2020 USA were announced on March 5, 2020. The Fund’s Institutional share class (BUIGX) was named: Refinitiv Lipper Fund Awards 2020 Winner USA Cboe Vest S&P 500 Buffer Strategy Fund, Best Fund Over Past 3 Years, Options Arbitrage/Option Strategies Funds Classification.1
The Cboe Vest S&P 500 Buffer Strategy Fund, Cboe Vest’s inaugural Target Outcome Fund, is the first index-based mutual fund offering buffered downside protection, and first-to-market in the fast-growing growing defined outcome investment space.
The Fund tracks the Cboe S&P 500 Buffer Protect Index (SPRO) and invests in a portfolio of options-based strategies. Each strategy targets a buffer of protection on the first 10% of downside losses while allowing participation in potential upside gains to a cap.
“We are honored to accept the Lipper Fund Award for BUIGX, in recognition of its strong risk-adjusted performance relative to its peers. The award is a testament to the Fund’s innovative methodology and the expertise of the portfolio team managing it,” said J. Steven Neamtz, President of Cboe Vest.
In addition to receiving the 2020 Lipper Fund Award, BUIGX has continuously held a 5-star Overall Morningstar Rating in the Options-Based Category2 since its three-year anniversary in August 2019.
The Fund complements classical asset-allocation risk-management strategies and is available on the major registered investment advisor (RIA) custodial platforms, as well as independent and regional brokerage platforms. For more information visit Cboevest.com/mutual-funds, or call (703) 918-4949 for sales support.
About Cboe Vest
Cboe Vest is the creator of Target Outcome Investments®, which strive to buffer losses, amplify gains or provide consistent income to a diverse spectrum of investors. The first of these leading-edge investments, Cboe Vest’s flagship Buffer Protect Strategy, was introduced in 2013. Today, Cboe Vest’s Target Outcome StrategiesTM are available as mutual funds, exchange-traded funds (ETFs), unit investment trusts (UITs), collective investment trusts (CITs), and customizable managed accounts / sub-advisory services. To explore the evolution of Target Outcome Investments, visit cboevest.com/#/timeline.
Past performance is no guarantee of future results.
Investors should consider the investment objectives, potential risks, management fees and charges and expenses carefully before investing. This and other information is contained in the Fund’s prospectus, which may be obtained by calling (855) 979-6060. Please read the prospectus carefully before investing. Distributed by First Dominion Capital Corp., Richmond, VA. Member FINRA.
RISK: The Fund may invest in derivative securities. These financial instruments derive their performance from the performance of an underlying asset or index and can be volatile. The Fund could experience a loss if derivatives do not perform as anticipated, or are not correlated with the performance of other investments which are used to hedge, or if the Fund is unable to liquidate a position because of an illiquid secondary market. The Fund bears the risk that the Options Clearing Corporation (OCC) will be unable or unwilling to perform its obligations under the FLEX Options contracts. Additionally, FLEX Options may be less liquid. The Fund will incur higher and duplicative expenses when it invests in mutual funds and exchange-traded funds (“ETFs”). There is also the risk that the Fund may suffer losses due to the investment practices of the underlying funds. The Fund’s return may not match or achieve a high degree of correlation with the return of the Index. A number of factors may affect the Fund’s ability to achieve a high degree of correlation with the Index, and there is no guarantee that the Fund will achieve a high degree of correlation.
1The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. The 2020 Lipper Fund Award for Cboe Vest Buffer Strategy Fund (Institutional class, BUIGX) was out of 10 funds and over three years in Options Arbitrage/Option Strategies Funds classification. For more information, see lipperfundawards.com. Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.
2The Overall Morningstar Rating for Cboe Vest S&P 500 Buffer Strategy Fund, a weighted average of three-, five-, and ten-year (if applicable) ratings, is out of 114 funds in the Options-Based category, based on risk-adjusted return as of 2/29/2020. Past performance is no guarantee of future results. The Morningstar Rating is for the Institutional share class (BUIGX) only; other classes may have different performance characteristics.
The Morningstar RatingTM for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar RatingTM does not include any adjustment for sales loads. The top 10% of funds in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.
The receipt of this rating is not representative of client experiences because the award criteria do not consider client experience or input. The rating is not indicative of Cboe Vest’s future performance, or any future performance pertaining to its clients’ investments. Furthermore, the rating should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results. The Morningstar RatingTM is based on objective, mathematical calculation and is not to be construed as an endorsement by Morningstar of any fund(s). The advisor is unaware of any undisclosed facts that could potentially invalidate the appropriateness of the rating.
©2020 Morningstar. All Right Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar not its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Copyright © Cboe Vest Financial Group 2020. Target Outcome Investment is a registered trademark of Cboe Vest Financial.
SOURCE: Cboe Vest Financial LLC
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