ZEGA Buy and Hedge 

The Zega Buy & Hedge ETF (ZHDG) employs a multi-faceted investment approach, allocating capital across a blend of options, alongside fixed-income instruments, and other income-generating assets, such as preferred stock. These investments can be made directly or indirectly via exchange-traded funds (ETFs) and other pooled investment vehicles. Its sub-adviser specifically targets exposure to the performance of the U.S. large-cap equity market, typically benchmarked against the S&P 500 Index. This is accomplished through the use of various call options, including index call options, call options on the SPDR S&P 500 ETF Trust (SPY) or similar S&P 500-tracking ETFs, and Flexible EXchange® (FLEX) Options. Notably, this fund operates on a non-diversified basis.