Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund - Oct
The Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund seeks to participate in the return of the S&P 500 Index to a cap, plus the gains of the Nasdaq to a cap, while buffering against the first 10% of losses on the S&P 500 Index, over a 1-year outcome period. The Fund participates 1:1 in the gains of the S&P 500 Index and the Nasdaq, up to the declared cap (the "Stacker Cap"). The Fund can be held indefinitely, resetting at the end of each outcome period (approximately annually).
Key FactsAs of 11/28/2022
|Outcome Period Length||1 Year|
|Outcome Period Start Date||Oct 10, 2022|
|Outcome Period Reset Date||Oct 10, 2023|
|Inception Date||Oct 10, 2022|
|Statutory Prospectus (Sep-Dec)|
|Statement of Additional Information (Sep-Dec)|
Historical Performance to Date 3
Fixed Income Contribution0.37%
Enter full outcome period index returns to analyze the hypothetical remaining fund equity performance.
Fund Equity Projection
Fund net equity return to date5.25%As of 11/28/2022
Hypothetical full period net return13.22%11/29/2022 projection
Remaining net equity return7.55%
Current vs Projected Performance
Fund Equity Payoff Profile
RESULTS BASED ON SIMULATED OR HYPOTHETICAL PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE THE RESULTS SHOWN IN AN ACTUAL PERFORMANCE RECORD, THESE RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, BECAUSE THESE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THESE RESULTS MAY HAVE UNDER-OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED OR HYPOTHETICAL TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THESE BEING SHOWN.
The hypothetical market scenario charts shown above reflect only the equity portion of the strategy and do not account for any contribution from fixed income positions. Strategy total returns could be higher or lower based on the performance of fixed income exposure during the period.
Average Annual Total ReturnsAs of Invalid date
|1 Year||3 Year||5 Year||10 Year||Inception|
|Bloomberg US Aggregate||-||-||-||-||-|
Performance data quoted represents past performance; past performance does not guarantee future results. Returns are annualized for periods greater than one year. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.
|Bloomberg US Aggregate||-||-||-||-|
The results shown are historical, for informational purposes only, not reflective of any investment, and do not guarantee future results. Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investable products, which otherwise have the effect of reducing the results of an actual investment portfolio.
The funds have characteristics unlike many other traditional investment products and may not be suitable for all investors. The potential returns an investor can receive from an investment in any of the above funds is subject to each fund's specific parameters (i.e., cap, participation rate, buffer, floor, and spread). There is no guarantee that the outcomes for an outcome period will be realized. A shareholder may lose their entire investment. For more information regarding whether an investment in these funds is right for you, please see the funds' prospectus.
Investors purchasing shares of a fund using this strategy after an outcome period has begun may experience very different results than the fund's investment objective. Following the initial outcome period, each subsequent outcome period will begin on the tenth day of the month the fund was incepted. After the conclusion of an outcome period, another will begin. Depending upon market conditions at the time of purchase, investors who purchase shares after the outcome period has begun may also lose their entire investment. An investment in the fund is only appropriate for investors willing to bear those losses.
1. The Fund's strategy is designed to produce returns that correlate to those of the Reference Indices up to the Index Caps if Shares are bought on the day on which Milliman transacts in the FLEX Options on behalf of the Fund and held until those FLEX Options expire at the end of the Outcome Period, subject to the Index Caps. In the event that one or both of the Reference Indices experience gains during the Outcome Period, the Fund will only participate in those gains up to the applicable Index Cap. In the event that one or both Reference Indices experience gains in excess of the applicable Index Cap over the duration of the Outcome Period, the Fund will not participate in those excess gains. Because the Fund's strategy provides capped exposure to two Reference Indices, the Index Caps may be lower than if the Fund provided capped exposure to only a single Reference Index. In the event an investor purchases Shares after the date on which the FLEX Options were entered into and the Fund has risen in value to a level near to an Index Cap, there may be little or no ability for that investor to experience an investment gain on their Shares relating to that Reference Index. In certain market conditions, the performance of the Collateral Portfolio could cause the Fund to underperform relative to the Reference Indices, which could further limit Fund gains below the Index Caps, notwithstanding any performance of the Reference Indices in excess of the Index Caps. An investor should consider the amount of the Index Caps, and the Fund's position relative to each Index Cap, before investing in the Fund.
2. The Buffer is not operative against losses in the Collateral Portfolio, which is comprised of fixed income securities and instruments providing exposure to fixed income securities. If the Collateral Portfolio experiences losses, it could have the effect of reducing the impact of, or completely eliminating, the buffer on the fund's S&P 500 Index exposure. In certain market conditions, the performance of the Collateral Portfolio could cause the fund's to significantly underperform the S&P 500 Index. Investors who purchase shares at the beginning of the outcome period may lose their entire investment. Investors who purchase shares after the outcome period has begun may also lose their entire investment.
3. The results shown are historical, for informational purposes only, and do not guarantee future results. Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investable products, which otherwise have the effect of reducing the results of an actual investment portfolio.
4. Each Fund maintains a collateral portfolio comprised of fixed income securities, including money market funds and/or cash, and/or exchange-traded funds ("ETFs") investing in such fixed income securities (the "Collateral Portfolio"). The performance of the Collateral Portfolio can increase or decrease the overall performance of a Fund irrespective of the performance of the referenced index or applicable parameter. This means that the performance of the Fund at the end of its term may be greater than or less than the referenced index's performance. It is possible in certain market scenarios that the performance of the Collateral Portfolio can partially, or in some cases, completely negate positive referenced index performance resulting in negative Fund performance at the end of its term. Alternatively, the performance of the Collateral Portfolio may result in the Fund outperforming the referenced index resulting in additional positive Fund performance at the end of its term.
Investing involves risks. Loss of principal is possible. The funds face numerous market risks, including: fixed income risk, active markets risk, participation rate change risk, capped upside return risk, correlation risk, liquidity risk, management risk, market risk, non-diversification risk, operation risk, options risk, FLEX options risk, trading issues risk, upside participation risk and valuation risk.
The fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.
Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investable products, which otherwise have the effect of reducing the results of an actual investment portfolio.
The fund invests in fixed income assets, from which a portion of the expected yield is derived to support the fund's overall investment strategy. This is atypical from a traditional investment in fixed income assets, whereby the investor directly receives income from the fixed income positions. Because the fund invests in fixed income assets, some credit risk is introduced, and the strategy may not achieve its desired objective.
Advanced Outcomes Annuity offers structured outcome strategies with underlying funds that have characteristics unlike many other traditional investment products and may not be suitable for all investors. There is no guarantee that the outcomes for a specific fund term will be realized. For more information regarding whether an investment in these funds is right for you, please see the product and fund prospectuses.
Variable annuities are long-term investments designed for retirement. Early withdrawals may be subject to withdrawal charges. Partial withdrawals may reduce benefits available under the contract, as well as the amount available upon a full surrender. Withdrawals of taxable amounts are subject to ordinary income tax and if taken prior to age 59½, an additional 10% federal tax may apply.
An investment in Advanced Outcomes Annuity involves investment risk, including possible loss of principal. The contract, when redeemed, may be worth more or less than the total amount invested. Products and features may vary by state and may not be available in all states or firms. We reserve the right to change fees for features described in this material; however, once a contract is issued, the fees will not change. The purchase of Advanced Outcomes Annuity is not required for, and is not a term of, the provision of any banking service or activity.
This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your financial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.
All contract and optional benefit guarantees are backed by the claims-paying ability of the issuing insurance company. They are not backed by the broker/dealer from which this annuity is purchased.
Advanced Outcomes Annuity is sold by prospectus only. The prospectus contains the investment objectives, risks, fees, charges, expenses and other information regarding the contract and underlying funds, which should be considered carefully before investing. A prospectus may be obtained by calling 1-877-445-1262. Investors should read the prospectus carefully before investing.
Contracts and features may vary by state or may not be available in all states.