Strategy. The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective through its investment exposure to the companies comprising the Magnificent Seven, a group of seven companies commonly recognized for their market dominance in technological innovation. As of March 31, 2025, the seven companies comprising the Magnificent Seven were: Alphabet Inc., Amazon.com, Inc., Apple Inc., Meta Platforms, Inc., Microsoft Corporation, NVIDIA Corporation, and Tesla Inc. (the Underlying Issuers). On a quarterly basis, the Fund will rebalance its exposure so that each company is equally-weighted in its portfolio. To the extent the companies that comprise the Magnificent Seven change, the Fund will seek to effect such change as soon as reasonably practical, but in no event … Show more… The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective through its investment exposure to the companies comprising the Magnificent Seven, a group of seven companies commonly recognized for their market dominance in technological innovation. As of March 31, 2025, the seven companies comprising the Magnificent Seven were: Alphabet Inc., Amazon.com, Inc., Apple Inc., Meta Platforms, Inc., Microsoft Corporation, NVIDIA Corporation, and Tesla Inc. (the Underlying Issuers). On a quarterly basis, the Fund will rebalance its exposure so that each company is equally-weighted in its portfolio. To the extent the companies that comprise the Magnificent Seven change, the Fund will seek to effect such change as soon as reasonably practical, but in no event later than its next regularly-scheduled quarterly rebalance. The Fund primarily gains exposure to the Magnificent Seven companies through its investment in swap agreements and/or forward contracts. However, the Fund will also invest directly in the equity securities issued by such companies. Exchange Traded Concepts, LLC (the Sub-Adviser), the Funds sub-adviser, positions the Funds portfolio daily to seek to achieve exposure to the Magnificent Seven companies to the fullest extent possible consistent with the Funds investment objective. Under normal circumstances, the Fund will invest at least 80% of its assets (plus borrowings for investment purposes) in financial instruments and other investments that provide exposure to, or in combination have economic characteristics similar or equivalent to those of, the largest ( i.e. , top quartile by market capitalization, revenue, profit, market share or other similar metric) companies in one or more Technology Industries (defined below), as defined by an independent industry classification scheme. As a result of its investment strategies, the Fund will concentrate ( i.e. , invest more than 25% of its total assets) its investments in one or more Technology Industries (defined by an independent industry classification scheme as the following industries: Automotive Industry; Technology Hardware Industry; E-Commerce Discretionary Industry; Internet Media & Services Industry; Semiconductors Industry; and Software Industry) at any given time. The Technology Industries in which the Fund may concentrate may vary over time. Additionally, the Fund may invest up to 100% of the Funds assets in (1) U.S. Government securities, such as bills, notes and bonds issued by the U.S. Treasury; (2) money market funds; and/or (3) short-term bond ETFs. The Fund is classified as a non-diversified investment company under the Investment Company Act of 1940, as amended (the 1940 Act). Show less