TWOX was created on 2025-01-15 by iShares. The fund's investment portfolio concentrates primarily on enhanced growth alternatives. TWOX uses a fund-of-funds approach to employ an options strategy, seeking to provide approximately 2x the upside price return of iShares Core S&P 500 ETF (IVV) up to an approximate cap, while aiming to track the downside price return of IVV when held for an entire calendar quarter. FLEX options and futures are used to execute the strategy.