Cboe Vest is the creator of a revolution in investing. Our Target Outcome StrategiesTM power investments with defined risk and returns.

Target Outcome Investing is

investing with confidence

Target Outcome Investing is

investing with more certainty

Target Outcome Investing is

investing aligned with goals

Target Outcome Investing is

invented by Cboe Vest

Our Strategies

Target Buffer Protect

Hedge exposure to a targeted range of downside losses while maintaining opportunity for growth.

Target Downside Protection

Losses can happen more often than expected and it can take a long time to recover. Stock and other investment markets are severely affected by events that are rare and difficult to predict. The Target Buffer Protect Strategy seeks to provide a buffer of protection against downside losses in the reference asset over a set period of time, while still providing the opportunity for growth up to a predetermined cap.

Target Downside Protection
VIEW TARGET BUFFER MUTUAL FUND VIEW TARGET BUFFER ETFs VIEW TARGET BUFFER UITs
Target Downside Protection

Target Growth

Seeking to enhance returns by amplifying returns for a targeted upside range.

Target Enhanced Upside

Enhance some of the gains without increasing the risk of downside losses. Conventional strategies to enhance upside returns may also lead to enhanced downside losses. The Target Growth Strategy seeks to target returns that, over a set period of time, provide two-to-one enhanced returns on the price appreciation of the reference index up to a capped level, while providing one-to-one exposure to any losses from price depreciation.

Target Enhanced Upside
VIEW TARGET GROWTH MUTUAL FUND
Target Enhanced Upside
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Target Income

Target a specific higher level of income while maintaining the opportunity for price appreciation.

Target Consistent Distributions

Stocks with a consistent track record of increasing dividend payments each year can be sound growth investments. The Target Income Strategy seeks to add a level of income to dividend growth stocks by trading some of the uncertain future growth opportunity of the stock for assured current income. This is achieved by repeatedly selling short-term call options on a small part of the stock holding. By combining premiums collected from the sale of options with the dividend income of the stocks, investors will increase their total income while still participating in the majority of the growth potential from price appreciation of the stock.

Target Consistent Distributions
VIEW TARGET INCOME MUTUAL FUND VIEW TARGET INCOME ETF
Target Consistent Distributions

Target Risk

Balance risk across multiple asset classes and smooth out large peaks and troughs to target a preset level of volatility.

Target Consistent Volatility

Traditional fixed-weight asset allocation methodologies, such as the 60% equity/40% bond portfolio, seek to reduce risk through diversification but end up with concentrated equities exposure and an unstable level of risk as market conditions vary.

The Target Risk Strategy is a dynamic asset allocation strategy that allocates risk equally between U.S. equities and U.S. government bonds, while targeting a fixed 10% annualized volatility.

Target Defined Volatility
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Target Defined Volatility

Our Products

Mutual Funds

Cboe Vest advises mutual funds providing access to
a range of Target Outcome Strategies.

View mutual funds

ETFs

Cboe Vest advises and sub-advises exchange-traded funds (ETFs)
providing access to a range of Target Outcome Strategies.

View etfs

CITs

Cboe Vest sub-advises collective investment trusts
(CITs) built to accommodate Target Outcome Strategies
designed for qualified retirement plans.

Learn More

UITs

Cboe Vest sub-advises unit investment trusts (UITs)
providing access to Target Buffer Protect Strategies.

View UITs

INSIGHTS & RESEARCH

BLOG:
Calibrating Downside Risk to Investment Horizon and Volatility Regime

We explore the volatility/time horizon connection that can be critical to constructing downside-risk strategies.

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BLOG:
Buffer Protection Strategies – Managing Over Time

Buffer Protect Strategies, available in an index-based mutual fund that diversifies across 12 calendar months, and in point-to-point ETFs that expire and roll in a particular calendar month, provide choices for strategic and tactical equity risk management. Using the history of Target Outcome Buffer Protect Index returns, we compare select strategies for managing risk over the last four years.

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VIDEO:
The Genesis of Target Outcome Investing

Learn how Target Outcome Investments are designed to deliver specific outcomes with a high degree of certainty.

VIDEO:
How Option-Based Funds Can Provide Certainty During Market Uncertainty

Learn how options help provide protection from changes in the market.

VIDEO:
Targeting Income and Protection With Dividend Aristocrats

Learn how a new S&P Dividend Aristocrats strategy seeks to add a level of targeted income to dividend grower stocks with Cboe Vest’s Karan Sood and S&P Dow Jones Indices’ Shaun Wurzbach and Vinit Srivastava.

THOUGHT LEADERSHIP:
Remodeling Portfolios to Shift Growth to Income

Just like homes can be remodeled to meet the evolving needs of homeowners, Investment portfolios can also be “remodeled” to better match investment goals such as higher income, growth or lower risk. Options are among the best portfolio remodeling tools; they can be utilized to achieve a target level of income and risk without disturbing other parts of the portfolio. Options allow an investor to buy (call) or sell (put) a security at a predetermined price (strike price) on or before a specific date (exercise date).

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WHITE PAPER:
Income-With-Growth Solution: Converting Future Dividend Growth Into Current Income

The challenge faced by fixed income securities has left a gaping hole in the income portion of income-with-growth investment portfolios. Increasingly, investors are bridging that gap by turning to dividend paying stocks to deliver the level of current income they require. In this paper, we examine a unique index solution that seeks to generate current income from both dividends and the price appreciation of stocks.

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