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Milliman 6-Month Buffered S&P 500 with Par Up Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Return
Fixed Income Contribution
Index Strategy Zone
Remaining Buffer
Remaining Downside Before Buffer
Remaining Upside Par Rate
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan/Jul$7.88-7.08%-2.85%-6.11%Within Buffer8.09% / 7.82%0.00% / -0.26%74.50% / 74.31%0.73% / 0.47%96
Feb/Aug$8.08-11.60%-11.06%-5.43%Below Buffer Range5.51% / 5.14%0.00% / -0.34%76.02% / 75.75%5.50% / 5.14%127
Mar/Sep$8.43-8.17%-8.90%-2.96%Within Buffer6.75% / 6.30%0.00% / -0.42%79.31% / 78.98%5.54% / 5.10%155
Apr/Oct$8.67-13.30%-15.14%-7.58%Below Buffer Range-0.02% / -0.03%0.00% / -0.01%75.27% / 75.26%0.14% / 0.13%5
May/Nov$9.09-9.10%-6.41%-7.16%Within Buffer5.50% / 5.41%0.00% / -0.09%78.62% / 78.54%1.67% / 1.57%35
Jun/Dec$9.35-6.50%-4.01%-5.00%Within Buffer7.46% / 7.28%0.00% / -0.18%73.68% / 73.55%1.22% / 1.04%67
Milliman 6-Year Buffered S&P 500 with Par Up Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Return
Fixed Income Contribution
Index Strategy Zone
Remaining Buffer
Remaining Downside Before Buffer
Remaining Upside Par Rate
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan (I)$7.95-20.50%-19.82%-12.18%Within Buffer7.89% / 2.42%0.00% / -5.08%109.65% / 104.08%7.67% / 2.20%1,922
Apr (I)$8.58-14.20%-15.14%-6.05%Within Buffer13.12% / 7.42%0.00% / -5.31%123.04% / 116.50%7.40% / 1.69%2,013
Jul (I)$9.61-3.90%-2.85%-4.78%Within Buffer15.18% / 9.77%-2.48% / -7.89%120.25% / 113.58%-2.48% / -7.89%2,104
Milliman 1-Year Buffered S&P 500 with Spread Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Return
Fixed Income Contribution
Index Strategy Zone
Remaining Buffer
Remaining Downside Before Buffer
Remaining Upside Before Spread
Remaining Spread
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan$8.09-19.10%-19.82%-7.99%Below Buffer Range0.54% / 0.25%0.00% / -0.26%12.79% / 12.50%14.21% / 14.50%0.74% / 0.48%96
Feb$8.36-16.40%-16.86%-7.08%Below Buffer Range2.08% / 1.70%0.00% / -0.34%10.33% / 9.95%13.14% / 13.52%2.18% / 1.82%127
Mar$8.59-14.10%-12.09%-7.30%Below Buffer Range4.79% / 4.34%0.00% / -0.42%7.17% / 6.72%8.70% / 9.15%4.75% / 4.31%155
Apr$8.49-15.10%-15.14%-6.00%Below Buffer Range4.00% / 3.44%0.00% / -0.50%10.05% / 9.50%10.03% / 10.58%4.03% / 3.50%186
May$9.17-8.30%-6.41%-4.65%Within Buffer7.28% / 6.67%0.00% / -0.58%3.44% / 2.84%5.67% / 6.28%3.44% / 2.84%216
Jun$9.43-5.70%-4.01%-3.56%Within Buffer8.08% / 7.39%0.00% / -0.67%1.84% / 1.15%4.73% / 5.42%1.84% / 1.15%249
Jul$9.51-4.90%-2.85%-3.64%Within Buffer8.33% / 7.58%0.00% / -0.75%0.97% / 0.22%4.34% / 5.09%0.97% / 0.22%277
Aug$8.85-11.50%-11.06%-3.79%Below Buffer Range7.20% / 6.30%0.00% / -0.83%8.40% / 7.49%6.57% / 7.47%7.20% / 6.31%308
Sep$9.12-8.80%-8.90%-2.07%Within Buffer8.42% / 7.44%0.00% / -0.92%7.22% / 6.23%5.67% / 6.66%7.22% / 6.23%340
Milliman 1-Year Floored S&P 500 with Par Up Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Return
Fixed Income Contribution
Index Strategy Zone
Remaining Downside Before Floor
Remaining Upside Par Rate
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan$8.18-18.20%-19.82%-8.01%Floor Reached-0.60% / -0.86%50.97% / 50.84%-0.60% / -0.86%96
Feb$8.39-16.10%-16.86%-7.17%Floor Reached-2.01% / -2.35%58.18% / 57.98%-2.01% / -2.35%127
Mar$8.61-13.90%-12.09%-7.25%Floor Reached-4.55% / -4.95%61.80% / 61.54%-4.55% / -4.95%155
Apr$8.59-14.10%-15.14%-6.07%Floor Reached-2.90% / -3.39%57.35% / 57.06%-2.90% / -3.39%186
May$9.16-8.40%-6.41%-4.79%Downside Before Floor-7.46% / -8.01%61.05% / 60.70%-3.56% / -4.13%216
Jun$9.44-5.60%-4.01%-3.20%Downside Before Floor-8.43% / -9.05%60.82% / 60.41%-2.11% / -2.77%249
Jul$9.47-5.30%-2.85%-3.88%Downside Before Floor-9.39% / -10.07%61.41% / 60.95%-1.86% / -2.59%277
Aug$9.06-9.40%-11.06%-3.74%Floor Reached-5.08% / -5.87%63.92% / 63.39%-5.08% / -5.87%308
Sep$9.34-6.60%-8.90%-2.34%Downside Before Floor-6.29% / -7.15%64.98% / 64.38%-5.12% / -5.99%340
Milliman 6-Month Parred Down S&P 500 with Par Up Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Return
Fixed Income Contribution
Index Strategy Zone
Remaining Downside Par Rate
Remaining Upside Par Rate
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan/Jul$7.74-7.19%-2.85%-5.64%Downside Participation52.22% / 52.08%73.10% / 72.91%-0.17% / -0.43%96
Feb/Aug$7.82-10.83%-11.06%-4.36%Downside Participation49.79% / 49.62%74.69% / 74.43%0.82% / 0.47%127
Mar/Sep$8.27-7.70%-8.90%-2.58%Downside Participation49.32% / 49.11%76.22% / 75.90%0.60% / 0.18%155
Apr/Oct$8.45-15.50%-15.14%-7.38%Downside Participation49.97% / 49.96%72.69% / 72.68%0.12% / 0.11%5
May/Nov$8.90-11.00%-6.41%-7.27%Downside Participation52.37% / 52.32%74.18% / 74.11%0.12% / 0.03%35
Jun/Dec$9.25-7.50%-4.01%-5.19%Downside Participation51.72% / 51.63%73.27% / 73.14%-0.05% / -0.23%67
Milliman 6-Year Parred Down S&P 500 with Par Up Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Return
Fixed Income Contribution
Index Strategy Zone
Remaining Downside Par Rate
Remaining Upside Par Rate
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan (I)$8.00-20.00%-19.82%-11.76%Downside Participation49.75% / 47.22%99.49% / 94.44%-4.71% / -9.55%1,922
Apr (I)$8.53-14.70%-15.14%-6.03%Downside Participation49.50% / 46.87%108.01% / 102.27%-0.71% / -5.98%2,013
Jul (I)$9.61-3.90%-2.85%-4.22%Downside Participation50.43% / 47.63%113.46% / 107.16%-3.23% / -8.59%2,104
Milliman 1-Year Buffered S&P 500 & Nasdaq with Stacker Cap Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Returns
Fixed Income Contribution
Index Strategy Zones (Primary/Secondary)
Remaining Buffer
Remaining Downside Before Buffer
Remaining Cap
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan$8.07-19.30%-19.82% / -26.44%-8.16%Below Buffer Range / Within Buffer0.61% / 0.32%0.00% / -0.26%26.89% / 26.56%0.78% / 0.52%96
Feb$8.36-16.40%-16.86% / -21.90%-7.19%Below Buffer Range / Within Buffer1.94% / 1.56%0.00% / -0.34%24.75% / 24.32%2.04% / 1.69%127
Mar$8.69-13.10%-12.09% / -15.49%-7.43%Below Buffer Range / Within Buffer3.41% / 2.97%0.00% / -0.42%23.46% / 22.94%3.40% / 2.97%155
Apr$8.53-14.70%-15.14% / -17.90%-6.36%Below Buffer Range / Within Buffer3.05% / 2.50%0.00% / -0.50%25.48% / 24.85%3.11% / 2.60%186
May$9.33-6.70%-6.41% / -6.97%-4.96%Within Buffer / Within Buffer5.17% / 4.58%0.00% / -0.58%18.44% / 17.75%1.34% / 0.75%216
Jun$9.60-4.00%-4.01% / -2.94%-3.80%Within Buffer / Within Buffer6.02% / 5.35%0.00% / -0.67%17.70% / 16.90%-0.22% / -0.89%249
Jul$9.58-4.20%-2.85% / -3.16%-3.69%Within Buffer / Within Buffer7.54% / 6.79%0.00% / -0.75%17.78% / 16.90%0.18% / -0.57%277
Aug$8.92-10.80%-11.06% / -14.15%-4.32%Below Buffer Range / Within Buffer5.74% / 4.85%0.00% / -0.83%24.87% / 23.83%5.74% / 4.86%308
Sep$9.21-7.90%-8.90% / -9.84%-2.68%Within Buffer / Within Buffer6.69% / 5.72%0.00% / -0.92%23.69% / 22.56%5.48% / 4.52%340
Milliman 1-Year Buffered S&P 500 & Russell 2000 with Stacker Cap Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Returns
Fixed Income Contribution
Index Strategy Zones (Primary/Secondary)
Remaining Buffer
Remaining Downside Before Buffer
Remaining Cap
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan$8.08-19.20%-19.82% / -19.28%-8.19%Below Buffer Range / Within Buffer0.43% / 0.14%0.00% / -0.26%27.36% / 27.02%0.62% / 0.36%96
Feb$8.41-15.90%-16.86% / -14.56%-7.20%Below Buffer Range / Within Buffer1.27% / 0.90%0.00% / -0.34%23.76% / 23.33%1.42% / 1.07%127
Mar$8.71-12.90%-12.09% / -12.88%-7.49%Below Buffer Range / Within Buffer3.10% / 2.66%0.00% / -0.42%23.12% / 22.60%3.09% / 2.66%155
Apr$8.59-14.10%-15.14% / -11.50%-6.57%Below Buffer Range / Within Buffer2.05% / 1.51%0.00% / -0.50%24.55% / 23.92%2.15% / 1.64%186
May$9.44-5.60%-6.41% / -0.53%-5.02%Within Buffer / Within Buffer3.93% / 3.35%0.00% / -0.58%17.76% / 17.07%0.10% / -0.49%216
Jun$9.61-3.90%-4.01% / -2.65%-3.73%Within Buffer / Within Buffer6.00% / 5.33%0.00% / -0.67%17.63% / 16.84%-0.24% / -0.91%249
Jul$9.61-3.90%-2.85% / 1.18%-3.80%Within Buffer / Upside Below Cap7.11% / 6.36%0.00% / -0.75%17.31% / 16.43%0.98% / 0.22%277
Aug$8.95-10.50%-11.06% / -11.01%-4.38%Below Buffer Range / Within Buffer5.31% / 4.42%0.00% / -0.83%24.36% / 23.33%5.32% / 4.44%308
Sep$9.23-7.70%-8.90% / -8.06%-2.68%Within Buffer / Within Buffer6.46% / 5.49%0.00% / -0.92%23.44% / 22.31%5.25% / 4.28%340
Milliman 1-Year Buffered S&P 500 & MSCI EAFE with Stacker Cap Outcome Fund (Current/Net)
As of 10/06/2022
Reset Month
Fund NAV
Fund Return
Index Returns
Fixed Income Contribution
Index Strategy Zones (Primary/Secondary)
Remaining Buffer
Remaining Downside Before Buffer
Remaining Cap
Remaining Option Premium / Discount
Outcome Period Days Remaining
Jan$8.08-19.20%-19.82% / -25.48%-8.09%Below Buffer Range / Within Buffer0.57% / 0.28%0.00% / -0.26%28.20% / 27.87%0.75% / 0.49%96
Feb$8.33-16.70%-16.86% / -25.24%-7.36%Below Buffer Range / Within Buffer2.14% / 1.76%0.00% / -0.34%24.76% / 24.33%2.21% / 1.85%127
Mar$8.60-14.00%-12.09% / -16.33%-7.51%Below Buffer Range / Within Buffer4.42% / 3.98%0.00% / -0.42%24.13% / 23.60%4.39% / 3.95%155
Apr$8.44-15.60%-15.14% / -19.21%-6.70%Below Buffer Range / Within Buffer3.81% / 3.26%0.00% / -0.50%25.94% / 25.31%3.81% / 3.29%186
May$9.18-8.20%-6.41% / -10.45%-5.07%Within Buffer / Within Buffer6.71% / 6.11%0.00% / -0.58%20.08% / 19.38%2.88% / 2.27%216
Jun$9.35-6.50%-4.01% / -11.16%-3.88%Within Buffer / Within Buffer8.61% / 7.92%0.00% / -0.67%18.90% / 18.10%2.37% / 1.68%249
Jul$9.50-5.00%-2.85% / -6.06%-3.76%Within Buffer / Within Buffer8.30% / 7.55%0.00% / -0.75%18.11% / 17.23%0.94% / 0.19%277
Aug$8.75-12.50%-11.06% / -12.71%-4.41%Below Buffer Range / Within Buffer7.71% / 6.81%0.00% / -0.83%26.42% / 25.37%7.70% / 6.80%308
Sep$9.17-8.30%-8.90% / -8.42%-2.71%Within Buffer / Within Buffer7.12% / 6.15%0.00% / -0.92%24.25% / 23.11%5.92% / 4.95%340
Risk Disclosures

The funds have characteristics unlike many other traditional investment products and may not be suitable for all investors. The potential returns an investor can receive from an investment in any of the above funds is subject to each fund's specific parameters (i.e., cap, participation rate, buffer, floor, and spread). There is no guarantee that the outcomes for an outcome period will be realized. A shareholder may lose their entire investment. For more information regarding whether an investment in these funds is right for you, please see the funds' prospectus.

Investing involves risks. Loss of principal is possible. The funds face numerous market risks, including: fixed income risk, active markets risk, participation rate change risk, capped upside return risk, correlation risk, liquidity risk, management risk, market risk, non-diversification risk, operation risk, options risk, FLEX options risk, trading issues risk, upside participation risk and valuation risk.

The fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.

Any reference to a market index is included for illustrative purposes only, as it is not possible to directly invest in an index. Indices are unmanaged, hypothetical vehicles that serve as market indicators and do not account for the deduction of management fees or transaction costs generally associated with investable products, which otherwise have the effect of reducing the results of an actual investment portfolio.

The fund invests in fixed income assets, from which a portion of the expected yield is derived to support the fund's overall investment strategy. This is atypical from a traditional investment in fixed income assets, whereby the investor directly receives income from the fixed income positions. Because the fund invests in fixed income assets, some credit risk is introduced, and the strategy may not achieve its desired objective.

The information, products, or services described or referenced herein are intended to be for informational purposes only. This material is not intended to be a recommendation, offer, solicitation or advertisement to buy or sell any securities, securities related product or service, or investment strategy, nor is it intended to be to be relied upon as a forecast, research or investment advice.

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