The S&P 500® Futures 7% Intraday Edge Volatility TCA 2% Decrement Index measures the performance of a leveraged strategy applied to the S&P 500 Futures Index using an intraday volatility control mechanism, with a volatility target of 7%. The mechanism implements volatility rotation based on forward-looking and realized volatility estimates. The index combines a trend factor that adjusts exposure during strong market moves with an overnight signal that adapts positioning based on the skew observed in overnight price movements. The index includes a transaction cost adjustment (TCA) and has a decrement factor of 2% per year.