Stone Ridge 2051 Inflation-Protected Longevity Income ETF(CBOE:LIAF)

LIAF invests in US Treasury securities, mainly TIPS, aiming for predictable cashflows through 2051. In 2031, investors can opt for Longevity-Linked Distributions via a closed-end fund with payments up to age 100 or Term Distributions continuing through 2051, or a mix. Both Fund and closed-end funds aim to liquidate by 2051, distributing all assets then ceasing distributions. Initially, monthly payouts are $0.0833 per share, adjusted for inflation, until 2031 when it recalibrates to approximately $0.0760 monthly until 2051. Inflation adjustments are based on the Consumer Price Index and distributions are made around the 3rd business day each month. A portion of each monthly distribution is considered return capital, reducing the amount for investment and lowering the investor's tax basis in their shares.