The MRP Synt Equity Nasdaq 100 ETF (MRP) is an actively managed ETF that combines options tied to the Nasdaq 100 Index with U.S. Treasuries to pursue long-term capital growth. Rather than holding a broad basket of physical equities directly, it uses a structure that combines synthetic equity exposure with defensive assets.

It is designed for investors who want exposure to Nasdaq 100 growth names and are prepared to understand how the options-plus-Treasuries structure works, accept the associated costs, and tolerate long-term volatility.

It is an actively managed ETF run by Synt Equity.

The strategy seeks to participate in Nasdaq 100 upside through options while reducing downside risk via U.S. Treasuries and synthetic Treasury-like components. The manager adjusts exposure based on market conditions and changes in options positioning, which can produce a performance path that differs from plain index-tracking ETFs.

• Synthetic equity exposure combining options and Treasuries
• Active management that adjusts to market conditions

Assets under management (AUM) stand at $32.3M, with a total expense ratio of 0.95% per year.

Because option expiry and time-value decay can shape returns differently than a product that directly tracks the same index, investors should understand both the structure and trading conditions.

Performance is likely to be closely tied to Nasdaq 100-related assets, but the presence of option time-value decay and a Treasury allocation means the performance path can diverge from direct-tracking ETFs in both rising and falling markets. In strong uptrends, the fund may capture meaningful upside participation, although tracking differences can emerge depending on the market environment.

Because the product uses options and Treasuries rather than direct index replication, options trading and Treasury management can affect fund cash needs and market prices. Before trading, it is important to review the bid-ask spread, trading volume, and any premium or discount of the market price to net asset value (NAV).

Its defining feature is an options-based design aimed at softening drawdowns, but investors must accept a performance path that differs from direct-tracking exposure as well as the high structural complexity of the product.

Compared with direct-tracking products that offer Nasdaq 100 exposure, this fund uses a different management structure by combining options and Treasuries. The available metadata provides limited information on comparable listed products, so specific alternative tickers are not identified here. When comparing options, investors should review direct index replication, the impact of option costs and time-value decay, Treasury weighting, trading liquidity, and the gap between market price and NAV.

Because the MRP Synt Equity Nasdaq 100 ETF (MRP) is structured differently from direct index-tracking products, prospective investors should review both the performance effects created by option exposure and the role of the Treasury allocation before allocating capital. In particular, it is important to distinguish between a long-term holding objective, the need for cash flow, and trading conditions.

Changes in the value of Nasdaq 100-related options, time-value decay, the fund's information technology concentration, and Treasury price movements driven by interest rate changes can all act on returns simultaneously. The goal of limiting losses is not guaranteed, and in sideways or sharply moving markets the fund can exhibit loss or return patterns that differ from direct-tracking products.

The MRP Synt Equity Nasdaq 100 ETF (MRP) is an actively managed product that combines Nasdaq 100 growth-stock exposure with options-based risk management and a Treasury allocation. Its structure is more complex than that of direct-tracking ETFs, so investors should fully understand both the long-term capital growth objective and the constraints of an options strategy before deciding whether to invest.