Strategy. The Fund primarily invests in other exchange traded funds (?ETFs?) that invest primarily in domestic and foreign (including emerging markets) (i) equity securities of any market capitalization, (ii) fixed-income securities of any credit quality, or (iii) alternative assets. In addition, the Fund may invest in commodity futures through a wholly-owned and controlled Cayman subsidiary (the ?Tactical Subsidiary?). The Fund defines equity securities to be exchange traded common and preferred stocks; defines fixed-income securities to be bonds, notes, debentures or similar instruments; and defines alternative assets to be investments that are historically uncorrelated to either equity or fixed income investments. Alternative assets include, commodity futures, commodities, exchange traded master limited partnerships (?MLPs?), real estate-related securities (including foreign and domestic exchange traded … Show more… The Fund primarily invests in other exchange traded funds (?ETFs?) that invest primarily in domestic and foreign (including emerging markets) (i) equity securities of any market capitalization, (ii) fixed-income securities of any credit quality, or (iii) alternative assets. In addition, the Fund may invest in commodity futures through a wholly-owned and controlled Cayman subsidiary (the ?Tactical Subsidiary?). The Fund defines equity securities to be exchange traded common and preferred stocks; defines fixed-income securities to be bonds, notes, debentures or similar instruments; and defines alternative assets to be investments that are historically uncorrelated to either equity or fixed income investments. Alternative assets include, commodity futures, commodities, exchange traded master limited partnerships (?MLPs?), real estate-related securities (including foreign and domestic exchange traded real estate investment trusts (?REITs?), exchange traded real estate operating companies (?REOCs?) or similar instruments), and U.S. exchange traded funds that invest in bitcoin futures (collectively, ?Bitcoin ETFs?). The Fund does not make direct investments in bitcoin and limits its investments in bitcoin to ETFs that invest in bitcoin futures. The Fund may invest up to 10% of its assets in such Bitcoin ETFs. The Fund?s fixed income securities may be rated below investment grade (rated BB+ or lower by Standard & Poor?s Ratings Services (?S&P?) or comparably rated by another nationally recognized statistical rating organization (?NRSRO?)), also known as ?high-yield? or ?junk? bonds, and in unrated debt securities determined by the Advisor to be of comparable quality. The Fund is a ?fund of funds,? which means that it primarily invests in ETFs; however, when appropriate, the Advisor may elect to invest directly in the types of securities described above (other than commodities). The Fund may also invest in other investment companies (including affiliated funds). The Advisor allocates the Fund?s portfolio using research from Dorsey Wright & Associates (?DWA?), which comes from the DWA Global Macro investment model (the ?DWA Global Macro model?), as well as the Advisor?s proprietary methodology. The DWA Global Macro model is based on a technical analysis of historical price and return forecasts. Technical analysis is the method of evaluating securities by analyzing statistics generated by market activity, such as past prices and trading volume, in an effort to determine probable future prices. The Advisor buys securities and derivatives that it believes will produce returns that are highly correlated to the returns of the components of the DWA Global Macro model. The Advisor sells securities and derivatives to purchase other securities and derivatives that it believes will have higher returns or more closely correlate to the returns of the components of the DWA Global Macro model. The Fund invests in securities without restriction as to capitalization, credit quality or country. Under normal market conditions, the Fund invests: ? From 0% to 100% of its assets in ETFs that invest in equity securities; ? From 0% to 100% of its assets in ETFs that invest in fixed-income securities; and ? From 0% up to 90% of its assets in ETFs that invest in alternative assets. The Fund may invest up to 25% of its total assets in the Tactical Subsidiary. The Tactical Subsidiary invests primarily in commodity futures, as well as fixed-income securities and cash equivalents, which are intended to serve as margin or collateral for the Tactical Subsidiary?s investments in commodity futures. When viewed on a consolidated basis, the Tactical Subsidiary is subject to the same investment restrictions as the Fund. The Fund consolidates the Tactical Subsidiary for purposes of financial statements, leverage and concentration. The Advisor is solely responsible for managing the assets of the Tactical Subsidiary. The Fund invests in ETFs within specific asset classes when the research provided by DWA indicates a high probability that the applicable asset classes and ETFs are likely to outperform the applicable universe. The Fund sells interests or reduces investment exposure among an asset class or ETF when the research provided by DWA indicates that such asset class or ETF is likely to underperform the applicable universe. The Fund may invest more heavily in fixed-income ETFs, cash positions and similar securities when the research provided by DWA indicates these assets should significantly outperform the equity and/or alternative asset classes. In general, the Fund?s investments in equity securities are intended to achieve the capital appreciation component of the Fund?s investment objectives. At times, the Fund may invest in fixed-income securities in order to achieve the capital preservation component of the Fund?s investment objectives. The Fund?s investments in alternative assets are intended to enable the portfolio to be less reliant on fixed-income investments for reducing volatility and equities for increasing returns. The Advisor may engage in frequent buying and selling of portfolio securities to achieve the Fund?s investment objectives. Show less