| Investment Objective: |
Northern Trust Morningstar Developed Markets ex-US Factor Tilt ETF seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Morningstar Developed Markets ex-US Factor Tilt Index. The Morningstar Developed Markets ex-US Factor Tilt Index SM (the "Underlying Index") is designed to reflect the performance of developed equity markets excluding the U.S. with increased exposure to size and value factors relative to the Morningstar Developed Markets ex-US Index (the "Parent Index"), a float-adjusted market-capitalization weighted index of companies incorporated in developed market countries, excluding the U.S. The Underlying Index seeks to achieve increased exposures to size and value factors, or a "factor tilt", by adjusting the Parent Index's constituent weights to achieve a slightly greater weight on companies with smaller market capitalizations or lower valuations, as determined by Morningstar, Inc. Under normal circumstances, the Fund will invest at least 80% of its total assets in the securities of the Underlying Index and in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs") based on the securities in the Underlying Index. |
