| Investment Objective: |
The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in securities and financial instruments linked to the S&P 500 Index. The Fund takes both long and short positions by investing in e-mini futures contracts. In addition, the Fund may invest in broad-based, passively managed ETFs that track the Index and options on both futures based on the Index and options on Underlying ETFs. The Fund's sub-adviser employs proprietary trading algorithms to assist it in managing the Fund. The algorithms use publicly available data (i.e., open, high, low, and close prices of broad-based stock indexes at various frequencies of data ranging from minutely data to daily data), including data from financial news outlets. The algorithms are designed to seek to actively exploit intraday market price movements. They respond to market price changes and aim to forecast future price movements over short periods, generating actionable "buy" or "sell" signals based on these predictions. Their shortterm (intraday) focus results in a higher number of trades compared to more conservative approaches. Although the Fund's algorithms play a crucial role in its management, the Fund does not rely on an automated or systematic trading system. |
