| Investment Objective: |
The Fund is an actively-managed ETF that seeks to achieve its objective through a hybrid fixed income and equity strategy. The Fund typically invests approximately 90% to 95% of its assets to obtain exposure to investment-grade corporate bonds (the Fixed Income Strategy) and invests the remainder of its assets to obtain exposure to large capitalization U.S. stocks, while limiting downside risk (the Equity Strategy). The Fund s Fixed Income Strategy seeks exposure to U.S. dollar-denominated, investment-grade corporate bonds of U.S. and non-U.S. issuers with maturities roughly evenly spaced across each of the next seven to eight years (also known as a bond ladder). The Fund will primarily obtain this exposure through investments in ETFs (Underlying Bond ETFs) that each track the investment results of an index composed of such bonds maturing in a specified year during that period (e.g., bonds maturing in 2023). The Fund s Equity Strategy seeks exposure to large capitalization U.S. stocks by purchasing at-the-money, exchange-listed call options on approximately ten to twenty individual stocks (the Underlying Individual Equities) or on one or more other ETFs that principally invest in large capitalization U.S. equity securities (the Underlying Equity ETFs). |
