| Investment Objective: |
The Fund is an actively-managed exchange-traded fund ("ETF") that does not seek to replicate the performance of a specific index. The Fund's principal investment strategy is to invest in a portfolio of large-cap value securities, subject to the limitations of the Fund's values-based screening policies. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of large-cap value companies. The Fund invests primarily in securities that are considered by portfolio management to be undervalued with good prospects for capital appreciation. Portfolio management will select securities using an investment process that combines quantitative techniques, fundamental analysis and risk management. Through its multi-factor quantitative models and fundamental analysis, portfolio management may consider, among other factors, a company's valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends when deciding whether to buy or sell investments. |
