Invesco QQQ Hedged Advantage ETF(NASDAQ:QQHG)

QQHG invests in US-listed, large-cap stocks with an options overlay to reduce downside risk. The fund seeks to replicate the Nasdaq-100 Index. However, it is actively managed and may include a significant number of stocks outside the index selected based on a proprietary model designed to identify securities that are expected to perform similarly to the index constituents. The fund employs an options overlay strategy by buying and selling call and put options referencing the Nasdaq-100 Index and utilizing combinations of put option spreads and covered call option strategies or put-spread collar strategies. It creates a put option spread by purchasing put options at a higher strike price and selling puts at a relatively low strike price. It also seeks to provide a laddered exposure by holding put options spreads for multiple periods, typically staggered one month apart. By selling call options, the fund offsets some options overlay-related costs and foregoes some upside participation.