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m+ funds

Simplified Access to Defined Outcomes

m+ funds provide a defined outcome return on a specified ETF at a specified maturity date. The funds are intended to provide investors enhanced control over investment results, compared to other alternatives, with a predetermined amount of downside protection, enhanced upside, or both.

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Why m+ funds?

Learn about the goal of m+ funds, their distinct categories, design principles, how advisors are deploying the funds in a portfolio setting, and more.

Benefits of m+ funds?

All m+ funds are registered under the Investment Company Act of 1940 and are publicly offered funds that: 

  • Are built on a fiduciary framework1

  • Provide daily liquidity at the fund’s net-asset-value (NAV)

  • Contain no corporate or bank credit issues

  • Are not listed on any securities exchange

  • Can be customized to meet certain objectives

View Available Funds

m+ Family of Funds

Preservation

Preservation

Aim to help investors concerned about market losses maintain market exposure or invest excess cash.

Buffered

Buffered

Provide investors with a buffer against market losses with limited participation in market gains.

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Growth

Seek to enhance market gains with full downside participation.

Structures for Different Investor Needs

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Learn more about certain features of m+ funds

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Definitions of key defined outcome terms

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Learn more about iCapital’s defined outcome solutions

Featured Articles

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What Makes a Good Manager? Start With a Plan.

Live from iCapital Connect 2026, Rob Ebling discusses how his firm approaches investing through a planning-first lens and highlighting how iCapital provides access, research, and tools to help advisors evaluate and select managers
July 10, 2026
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What’s Driving Better Advisor Decisions Today?

Live from iCapital Connect 2026, Larry Wilson discusses how Arrow Investment Group works with iCapital to deliver structured products, analytics, and tools designed to support advisor decision-making.
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Why Liquidity Is Reshaping Asset Allocation

Live from iCapital Connect 2026, Lauren Ferry from Lord Abbett discusses how liquidity and evolving asset allocation decisions—especially around private credit—are top of mind, as advisors work to align the right investment vehicles with client needs.
July 2, 2026

1. m+ funds hold a static portfolio of exchange listed assets (exchange listed options backed by the Options Clearing Corp) in a 40 Act Registered fund (“UIT”) whereby Alaia Capital LLC is a “Portfolio Consultant” to the Trust

Securities products and services are offered by iCapital Markets LLC, a registered broker-dealer, member FINRA and SIPC, and an affiliate of iCapital, Inc. These registrations and memberships in no way imply that the SEC, FINRA, or SIPC have endorsed any of the entities, products, or services discussed herein. Alaia Capital LLC and m+ funds are affiliated with iCapital Markets LLC. “iCapital” and “iCapital Network” are registered trademarks of Institutional Capital Network, Inc.