Aptus April Buffer ETF (APRB)

The Aptus April Buffer ETF (APRB) is a defined outcome fund from Aptus Capital Advisors. It seeks exposure to the U.S. large-cap equity market, as represented by the S&P 500, while buffering a portion of losses over an annual outcome period that begins each April.

The fund uses options to create its payoff profile, giving up returns above a cap in exchange for the downside buffer. Buffer and cap levels are established at the start of each outcome period and reset annually.

The intended outcomes apply to investors who hold shares for the full outcome period; entering or exiting partway through can produce materially different results.