| Investment Objective: |
The ETF seeks to outperform traditional large-cap equity indices and styles over full market cycles by investing in various sectors of the equity market. The Fund is an actively managed ETF that normally invests at least 80% of its net assets, including any borrowings for investment purposes, in a diversified portfolio of ETFs (Underlying Funds) that each invest at least 80% of their assets in U.S. equity securities. The Fund will invest primarily in large capitalization issuers, although its assets may be invested in securities of any market capitalization. Based on the Sub-Adviser s tactical investment style, the Fund will invest in Underlying Funds based on the Sub-Adviser s macroeconomic and asset cycle investing methodology that determines the rank order of equity sectors, and then makes periodic shifts to i) capitalize on market opportunities, or ii) avoid market declines. The Fund expects to hold between eight to ten Underlying Funds at any given time. The core of the Fund s portfolio will be comprised of a combination of the 11 main industry sectors that make up the S&P 500 Index, although additional positions may be included in the Funds securities. |
