Kensington Launches Options-Based ETF With Systematic Downside Hedge

Kensington Asset Management has launched the Premium Opportunities ETF (KPO), an actively managed fund seeking long-term capital appreciation through capital-efficient equity exposure. KPO combines synthetic exposure to the S&P 500 and Nasdaq-100 with Treasury collateral and a systematic options strategy. Monthly out-of-the-money calls seek upside participation, while quarterly put spreads aim to provide protection during significant market declines. Options premiums may also contribute to overall returns.