In the option-based strategy the capital protection is created by the developer and the direct purchase of bond. Conversely, applying the CPPI strategy means that the fund manager, or developer, invests in risk-free assets continuously and so the protection is more static. Unlike the option-based strategy the CPPI creates the capital protection by dynamically changing the allocation between the two asset types depending on their performance. The protection is thus obtained by ensuring that the NAV of the strategy stays above the floor. By introducing the profit lock-in feature in the CPPI strategy the capital protection becomes variable, as opposed to in the option-based strategy, where it stays constant throughout the investment period. This feature could be used for attracting investors also reinforced by the quite impressive performance reflected in the expected return and the participation rate.