This fund puts at least 80% of its money into stocks that make up the NASDAQ-100 Index while also selling monthly call options on those same stocks, a strategy known as a covered call or buywrite approach. The goal is to track the CBOE NASDAQ-100 BuyWrite Index, which measures how this combined stock-and-options strategy performs over time. Because the fund concentrates its holdings in a single index, it is considered non-diversified.
