Strategy. The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets directly or indirectly in the securities included in the Nasdaq Victory International 500 Volatility Weighted Index (the Index), an unmanaged, volatility weighted index maintained exclusively by Nasdaq, Inc. (the Index Provider). The Index Provider is not affiliated with the Fund or the Adviser. The Index combines fundamental criteria with individual security risk control achieved through volatility weighting of individual securities. The Index follows a rules-based methodology to construct its constituent securities: ? The Index universe begins with all publicly traded foreign companies and then screens for all companies with positive earnings over the last twelve months. ? The Index identifies … Show more… The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets directly or indirectly in the securities included in the Nasdaq Victory International 500 Volatility Weighted Index (the Index), an unmanaged, volatility weighted index maintained exclusively by Nasdaq, Inc. (the Index Provider). The Index Provider is not affiliated with the Fund or the Adviser. The Index combines fundamental criteria with individual security risk control achieved through volatility weighting of individual securities. The Index follows a rules-based methodology to construct its constituent securities: ? The Index universe begins with all publicly traded foreign companies and then screens for all companies with positive earnings over the last twelve months. ? The Index identifies the 500 largest foreign companies by market capitalization measured at the time the Indexs constituent securities are determined. ? The 500 stocks are weighted based on their daily standard deviation (volatility) of daily price changes over the last 180 trading days. Stocks with lower volatility receive a higher weighting and stocks with higher volatility receive a lower weighting. The Index considers foreign companies to be those that are organized or domiciled in a developed country (excluding the U.S. and emerging markets) and whose stock principally trades on a foreign exchange. Representative developed markets include Canada, France, Germany, Japan, Hong Kong and Australia. The Index is reconstituted every March and September (based on information as of the prior month-end) and is adjusted to limit exposure to any particular country to 20% and any particular sector to 25%. The Index may include more than or fewer than 500 stocks depending on the number of companies meeting the Indexs criteria. The Fund seeks to track the returns of the Index before fees and expenses by employing, under normal circumstances, a sampling process to invest in a representative sample of stocks included in the Index. The Funds portfolio managers select these stocks using a statistical optimization process designed to produce investment characteristics that closely approximate those of the Index. Show less