NEOS Real Estate High Income ET (IYRI)

The fund is an actively-managed ETF that seeks to achieve its investment objective by (i) investing, under normal circumstances, at least 80% of its net assets, plus borrowings for investment purposes, in securities of real estate companies, which the managers define as those companies included in the Dow Jones U.S. Real Estate Capped Index (the “Index”); and (ii) utilizing a call options strategy to provide high monthly income, which primarily consists of writing (selling) call options on one or more ETFs that seek to track the index. The fund is non-diversified.