Strategy. The Fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in the securities that comprise the Index or investments with economic characteristics similar to the securities included in the Index ( i.e ., derivative instruments, including swap agreements or futures contracts). The Index tracks the performance of companies that provide goods and/or services related to the hydrogen industry, including hydrogen generation and storage, transportation and supply of hydrogen, fuel cells, and hydrogen fueling stations. The Index will include domestic securities as well as securities listed on various developed and emerging markets, excluding India and Vietnam. Indxx, LLC (the Index Provider) has defined the hydrogen industry to be comprised of the following … Show more… The Fund, under normal circumstances, invests at least 80% of its net assets (plus any borrowings for investment purposes) in the securities that comprise the Index or investments with economic characteristics similar to the securities included in the Index ( i.e ., derivative instruments, including swap agreements or futures contracts). The Index tracks the performance of companies that provide goods and/or services related to the hydrogen industry, including hydrogen generation and storage, transportation and supply of hydrogen, fuel cells, and hydrogen fueling stations. The Index will include domestic securities as well as securities listed on various developed and emerging markets, excluding India and Vietnam. Indxx, LLC (the Index Provider) has defined the hydrogen industry to be comprised of the following types of businesses and securities of issuers involved in these business lines are expected to be included in the Index: Fuel Cell and Battery: Companies manufacturing and selling fuel cells and batteries that are run on hydrogen-based technology; Hydrogen Systems and Solutions: Companies that offer equipment, components, or technology used in the hydrogen industry, including those involved in providing solutions and systems for hydrogen generation, storage, and supply; Hydrogen Production and Generation: Companies that are involved in the process of hydrogen generation. This includes production of hydrogen in either liquid or solid form; Membrane and Catalyst: Companies that design and produce membranes, filters, catalyst, or membrane assemblies for hydrogen fuel cells and other hydrogen-related technologies; and Hydrogen Storage and Supply: Companies engaged in providing hydrogen storage and transportation services as well as companies that supply hydrogen to various users and operate hydrogen fueling stations domestically or globally. The top 30 Pure Play companies by largest market capitalization will be selected for inclusion in the Index. Pure Play companies are those that reportedly derive 50% or more of their revenue from the hydrogen industry ( i.e ., providing goods and/or services to the hydrogen industry, including hydrogen generation, hydrogen storage, hydrogen transport, hydrogen supply, fuel cells, and hydrogen fueling stations). In the event that there are less than 30 Pure Play companies, the Index will include companies that derive less than 50% but greater than or equal to 20% of their revenue from the hydrogen industry until 30 companies are selected. To be eligible for inclusion in the Index, securities must have a minimum total market capitalization of $100 million, a 6-month average daily turnover greater than, or equal to, $1 million, and have a minimum free-float equivalent to 10% of shares outstanding. The Index is weighted based on each components free-float adjusted market capitalization with a maximum weighting of 8% and a minimum weighting of 1% at each Index rebalance date. The Index will be reconstituted annually and rebalanced quarterly. As of December 29, 2023, the Index was comprised of 30 constituents, which had a median total market capitalization of $1.6 billion, and total market capitalizations ranging from $82.6 million to $205.3 billion. The components of the Index and the percentages represented by various sectors in the Index may change over time. The Fund will concentrate its investment in a particular industry or group of industries ( i.e. , hold 25% or more of its total assets in the stocks of a particular industry or group of industries) to approximately the same extent as the Index is so concentrated. The Fund uses a passive or indexing approach to attempt to achieve its investment objective. Although the Fund intends to fully replicate the Index, at times the Fund may hold a representative sample of the securities in the Index that have aggregate characteristics similar to those of the Index. This means the Fund may not hold all of the securities included in the Index, its weighting of investment exposure to such securities or industries may be different from that of the Index and it may hold securities that are not included in the Index. The Fund will rebalance its portfolio when the Index rebalances. The Fund may lend securities representing up to one-third of the value of the Funds total assets (including the value of the collateral received). The Fund is non-diversified, meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities. Additionally, the Funds investment objective is not a fundamental policy and may be changed by the Funds Board of Trustees without shareholder approval. Show less