Strategy. The Fund normally invests at least 80% of its total assets in Robotics Companies. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. The Robotics Index is published by MarketVector Indexes GmbH (the "Index provider"), an indirectly wholly owned subsidiary of the Adviser. The Robotics Index is comprised of equity securities, which may include depositary receipts of global exchange-listed companies in the robotics industry. Robotics Companies are companies that derive at least 50% of their revenue from: (i) robotics manufacturing or industrial automation systems, (ii) additive manufacturing or 3D printing (including 3D printing equipment, materials or related software or services), (iii) robotics or manufacturing related software and Computer Aided … Show more… The Fund normally invests at least 80% of its total assets in Robotics Companies. For purposes of this policy, the term assets means net assets plus the amount of any borrowings for investment purposes. The Robotics Index is published by MarketVector Indexes GmbH (the "Index provider"), an indirectly wholly owned subsidiary of the Adviser. The Robotics Index is comprised of equity securities, which may include depositary receipts of global exchange-listed companies in the robotics industry. Robotics Companies are companies that derive at least 50% of their revenue from: (i) robotics manufacturing or industrial automation systems, (ii) additive manufacturing or 3D printing (including 3D printing equipment, materials or related software or services), (iii) robotics or manufacturing related software and Computer Aided Design software (CAD) (i.e., the use of computer-based software to aid in design processes to optimize the user's workflow and increase productivity), (iv) machine vision technology, (v) robotic surgical systems, or (vi) semiconductor manufacturing systems. Additionally, the Fund may invest up to 20% of its assets in companies that offer embedded machine learning chips and generate at least 25% of their revenues from these robotics sub-themes. Robotics Companies may include medium- and large-capitalization companies and the Fund may invest in depositary receipts and securities denominated in foreign currencies. As of December 31, 2025, the Robotics Index included 65 securities of companies with a market capitalization range of between approximately $550 million and $4.53 trillion and a weighted average market capitalization of $293.35 billion. These amounts are subject to change. The Funds 80% investment policy is non-fundamental and may be changed without shareholder approval upon 60 days prior written notice to shareholders. The Index provider reconstitutes and rebalances the Robotics Index semiannually. The Fund, using a passive or indexing investment approach, attempts to approximate the investment performance of the Robotics Index by investing in a portfolio of securities that generally replicates the Robotics Index. Unlike many investment companies that try to beat the performance of a benchmark index, the Fund does not try to beat the Robotics Index and does not seek temporary defensive positions that are inconsistent with its investment objective of seeking to track the Robotics Index. The Adviser anticipates that the Fund generally will use a replication strategy for tracking the performance of the Robotics Index. A replication strategy is an indexing strategy that involves investing in the securities of the Robotics Index in approximately the same proportions as in the Robotics Index. However, the Fund may utilize a representative sampling strategy with respect to the Robotics Index when a replication strategy might be detrimental or disadvantageous to shareholders, including as a result of legal restrictions or limitations (such as fundamental and non-fundamental investment restrictions and tax diversification requirements) that apply to the Fund but not the Robotics Index. The Fund is classified as a non-diversified fund under the Investment Company Act of 1940 and, therefore, may invest a greater percentage of its assets in a particular issuer. The Fund may concentrate its investments in a particular industry or group of industries to the extent that the Robotics Index concentrates in an industry or group of industries. As of September 30, 2025, each of the information technology and industrials sectors represented a significant portion of the Fund. Show less