WEBs Consumer Discretionary XLY Defined Volatility ETF(NASDAQ:DVXY)

DVXY is a part of a suite of defined volatility ETFs. The fund is passively managed to actively adjust exposure to the SPDR Consumer Discretionary ETF (XLY) based on market volatility. As such, the fund is not expected to track XLY's performance, instead, its exposure is volatility-driven. The fund uses a rules-based strategy, dynamically adjusting exposure to XLY (via direct holdings or total return swaps for leverage) based on 21-day realized volatility relative to the 25% target: exposure increases when volatility is below 25% and decreases (by allocating to cash or cash-like instruments) when above. Fund exposure to XLY can vary between 0-200%. This suite of ETFs provides investors the ability to take a tactical approach to sector rotation or emphasize a sector-focus in a broad market portfolio.