The investment seeks to capture the majority of the returns associated with equity market investments, while exposing investors to less risk than other equity investments. The fund invests in a broadly diversified portfolio of common stocks, while also selling index call options and purchasing index put options. Writing index call options is intended to reduce the fund's volatility, provides steady cash flow and is an important source of the fund's return, although it also reduces the fund's ability to profit from increases in the value of its equity portfolio.