APOC invests all its assets in FLEX options. The option positions are structured in a way that aims to provide long exposure to US large-cap stocks, up to a cap, while fully hedging downside risk over six months. The upside cap and hedge are reset every six months, at the beginning of October. Shareholders should note that they will not receive dividends since the objective focuses on potential growth. The specific defined outcome pursued may only be possible if an investor would hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome strategy pursued will be realized by investors. When factoring risks, potential rewards, and the all-in costs for such a strategy, APOC is considered an alternative to more expensive fixed indexed annuities, market-linked CDs, holding near-term Treasury, or cash.