BUFM was created on 2024-12-10 by AB Funds. The fund's investment portfolio concentrates primarily on downside hedge alternatives. BUFM aims to participate in the price movement of the SPDR S&P 500 ETF (ticker: SPY), up to a cap while buffering the first 10% decline. The fund employs FLEX options to implement this strategy and resets its cap and buffer levels at each outcome period.