| Investment Objective: |
The Fund is an actively managed exchange-traded fund. Under normal circumstances, at least 80% of the Fund's net assets will be invested in equity securities of large cap companies. The Fund considers a large cap company to be a company with a market capitalization that, at the time of purchase, is within with the capitalization range of the S&P 500 Index. The Fund seeks to achieve its objective by investing in individual stocks, equity and index put options and/or put spreads, equity futures, Treasury Bills, and total returns swaps that implement a systematic trading strategy (STS). The Fund will own equity securities that, in the Adviser's view, score well through quality, value, and growth screens, which are constructed using a weighting scheme designed to reduce overall portfolio volatility. The Fund will utilize futures or a total return swap on the S&P 500 Index, as well as collect option premiums on S&P 500 puts during favorable market conditions to capture more equity market upside. Selling (or writing) a put option gives the buyer the right to sell shares of the option's reference asset at a specified price through the expiration date of the option or only at the expiration date . The seller of the put option receives an amount (premium) for selling the option. |
