| Investment Objective: |
The Fund will invest at least 80% of its net assets in equity securities and option contracts that give economic exposure to equity securities. The Fund is an actively managed ETF that seeks to provide capital appreciation through uncapped participation in the large-capitalization U.S. equity markets while seeking to limit any losses. Pursuant to its investment objective, the Fund intends to invest in a diversified portfolio of equity securities (the "Equity Portfolio") that are solely representative of the Solactive GBS United States 500 Index (the "Equity Portfolio Index"), together with put and call option contracts (the "Options Portfolio") in an effort to reduce the potential for losses. The Sub-Adviser will actively monitor the performance of the portfolio and, as described further below, selectively ladder the Options Portfolio to seek to protect capital. The Fund seeks to provide a series of "buffers" that each seek to protect the Fund against 10% of the S&P 500 Price Return Index (the "U.S. Large Cap Index") losses, as measured at the end of one-year periods and prior to taking into account the Fund's annual management fee and other fees or expenses, which will have the effect of reducing the buffer amount experienced by Fund shareholders. |
