The ZEGA Stacked Hedged Equity | Hedged Gold | Intermediate 5-Year Treasuries strategy is designed to offer multiple asset classes ‘stacked’ on top of one another allowing for efficient use of capital. Portfolios are built using synthetic options positions to replicate long ownership where Equities and Gold positions are set with an initial downside hedge aiming to put a floor within the allocation to those asset classes. ZEGA Investments designed the strategy utilizing historically lower correlated assets and built upon that correlation matrix by further hedging the most volatile asset classes, creating the opportunity to produce outsized results due to the inherent hedged leverage with potential volatility smoothing. The products are deployed in a SMA format and utilize ETFs and Options. It is a hedged stacked strategy.