DVSP — WEBs SPY Defined Volatility ETF ☆

WEBs SPY Defined Volatility ETF follows an index built on the SPDR S&P 500 ETF that aims to hold annual volatility at 20%. Each day the index checks SPY's 21-day volatility and moves exposure between 0% and 200%, adding it through total return swaps when volatility is below target and trimming it with cash when above. SPY itself tracks the S&P 500 Index of 500 committee-selected US large-cap companies.