- Cboe Vest S&P 500 Enhanced Growth Strategy Fund offers access to a laddered portfolio of options-based Enhanced Growth Strategies.
- The Enhanced Growth Strategy targets two-to-one enhanced returns on the price appreciation of the S&P 500 Index up to a capped level, while providing one-to-one exposure to losses.
- ENGIX is one of many innovative first-to-market funds launched by Cboe Vest.
MCLEAN, VA / ACCESSWIRE / March 11, 2021 / Cboe Vest Financial LLC (“Cboe Vest”) announced today that its Cboe Vest S&P 500 Enhanced Growth Strategy Fund (the “Fund”), featuring a unique enhanced growth strategy, received a 2021 Refinitiv Lipper Fund Award for its institutional share class (NASDAQ:ENGIX).
The Refinitiv Lipper Fund Awards 2021 USA were announced on March 11, 2021. The Fund’s Institutional share class (ENGIX) was named: Refinitiv Lipper Fund Awards 2021 Winner USA Cboe Vest S&P 500 Enhanced Growth Strategy Fund, Best Fund Over Past 3 Years, Options Arbitrage/Option Strategies Funds Classification.1
Launched in 2016, the Cboe Vest S&P 500 Enhanced Growth Strategy Fund is the first index-based mutual fund offering enhanced growth. The Fund tracks the Cboe S&P 500 Enhanced Growth Index (SPEN) and invests in a laddered portfolio of novel options-based Enhanced Growth Strategies. Each Enhanced Growth Strategy targets two-to-one enhanced returns on the appreciation of the S&P 500 Index up to a capped level while providing one-to-one exposure to losses.
“We are honored to accept the Lipper Fund Award for ENGIX, in recognition of its strong risk-adjusted performance relative to its peers. Unlike conventional strategies that target enhanced upside, the Enhanced Growth Strategy underpinning ENGIX is designed to enhance some of the gains without increasing the risk of downside losses. 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 2021 Lipper Fund Award, ENGIX was previously named a Leading Edge Structured Investment of the Year by Prospect News and the Structured Product Association2 and holds a 5-star Overall Morningstar Rating in the Options-Based Category3 as of February 28, 2021.
The Cboe Vest S&P 500 Enhanced Growth Strategy Fund is one of many innovative first-to-market Target Outcome Investments® launched by Cboe Vest. The firm won the Fund Intelligence 2020 Fund Innovation of the Year4 award for its pioneering work as the creator of buffer funds and pioneer of the defined outcome investment category.
The Fund 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. From its first patent application in 2012 and introduction of its flagship Buffer Protect Strategy in 2013, to the launch of its newest Gold Target Income Strategy in 2021, Cboe Vest has been building a stable of outcome-oriented solutions designed to give investors more certainty in their investment outcomes.
Today, Cboe Vest’s Target Outcome StrategiesTM are available in more than 50 products, including exchange-traded funds (ETFs), mutual funds, unit investment trusts (UITs), collective investment trusts (CITs), and customizable managed accounts / sub-advisory services. The firm’s Total Assets Under Management and Assets Under Supervision, combined, are nearly $2.7 billion as of February 28, 2021. 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. 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. Amplified Returns Risk. Each monthly tranche within the Fund’s portfolio seeks to deliver the targeted enhanced upside participation in the predetermined price range based on the price performance of the S&P 500 Index from the third Wednesday of the month to which the tranche belongs to the third Wednesday of the same month the following year. For other time periods, the tranche could experience more than one-to-one losses in market declines. FLEX Options Risk. 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. Leverage Risk. The Fund may seek to gain exposure to certain securities in excess of 100%. Such exposure will make the Fund more sensitive to movement in the value of those instruments which may magnify increases or decreases in the value of the Fund’s portfolio. Please see the prospectus for more information regarding these and other risks associated with the Fund.
Cboe® is a registered trademark of Cboe Exchange, Inc., which has been licensed for use in the product. The product is not sponsored, endorsed, sold or marketed by Cboe Exchange, Inc. or any of its affiliates (“Cboe”) or their respective third-party providers, and Cboe and its third-party providers make no representation regarding the advisability of investing in the product and shall have no liability whatsoever in connection with the product.
Copyright © Cboe Vest Financial Group 2021. Target Outcome Investment is a registered trademark of Cboe Vest Financial. Target Outcome Strategy is a trademark of Cboe Vest Financial.
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 Consistent Return measure is a richer risk-adjusted performance measure than others currently available in the marketplace. It takes into account both short- and long-term risk-adjusted performance relative to fund classification. The overall calculation is based on an equal-weighted average of percentile rankings of the Consistent Return metrics over three-, five-, and 10-year periods. The highest 0% of funds in each classification are named Lipper Leaders for Consistent Return, the next 20% receive a rating of 4, the middle 20% are rated 3, the next 20% are rated 2, and the lowest 20% are rated 1. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award. The 2021 Lipper Fund Award for Cboe Vest Enhanced Growth Strategy Fund (Institutional class, ENGIX) was out of 20 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. A Lipper Leader for Consistent Return may be the best fit for investors who value a fund’s year-to-year consistency relative to other funds in a particular group. Investors are cautioned that some peer groups are inherently more volatile than others, and even a Lipper Leader for Consistent Return in a volatile group may not be well suited to shorter-term goals or less risk-tolerant investors.
The advisor is unaware of any undisclosed facts that could potentially invalidate the appropriateness of the award. Furthermore, the advisor does not have any unfavorable ratings to disclose. The receipt of this award is not representative of client experiences because the award criteria do not consider client experience or input. The award 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.
3The Overall Morningstar Rating for Cboe Vest S&P 500 Enhanced Growth Strategy Fund (ENGIX), 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 2/28/2021. Past performance is no guarantee of future results. The Morningstar Rating is for the Institutional share class (ENGIX) 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 rating 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.
©2021 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.
4The Fund Innovation of the Year Award for 2020 is hosted by ranking entity Fund Intelligence. The shortlists and winners are comprised of the individuals and firms who have been nominated via the online submission process and through recommendations from market participants. Cboe Vest applied for consideration for the award but did not pay a fee. Judges will use the submitted application material, as well as any uploaded supplemental information, to make a determination on the firm, individual or product they believe to be the most suitable and deserving winners for each category. Judges have the discretionary power to move nominations into alternative categories that they think may be more suitable. The asset manager sales, marketing and leadership awards and the fund director awards will be adjudicated by a panel of industry experts convened by the Fund Intelligence and Fund Directions editorial teams. The industry judges, who must declare any conflict, will contribute their sector expertise to assess the shortlist of candidates and come to a decision on the winners. A separate panel of industry experts will judge the ETF categories. There were five companies that were shortlisted in the Fund Innovation of the Year category. Cboe Vest is the only advisor that received the award in this category.
The advisor is unaware of any undisclosed facts that could potentially invalidate the appropriateness of the award. Furthermore, the advisor does not have any unfavorable awards to disclose. The receipt of this award is not representative of client experiences because the award criteria do not consider client experience or input. The award is not indicative of Cboe Vest’s future performance, or any future performance pertaining to its clients’ investments. Furthermore, the award should not be construed by a client or prospective client as a guarantee that they will experience a certain level of results.
SOURCE: Cboe Vest Financial LLC
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