Strategy. The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices, LLC (the Index Provider) compiles, maintains and calculates the Underlying Index, which is designed to measure the performance of securities of small-capitalization U.S. companies in the industrials sector, as defined by the Global Industry Classification Standard (GICS ). These companies are principally engaged in the business of producing capital goods, such as aerospace and defense products, building products, electrical equipment, and machinery; providing commercial and professional services; and transportation, such as ground and marine transportation, passenger airlines, and air freight and logistics. The Underlying Index selects constituents … Show more… The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices, LLC (the Index Provider) compiles, maintains and calculates the Underlying Index, which is designed to measure the performance of securities of small-capitalization U.S. companies in the industrials sector, as defined by the Global Industry Classification Standard (GICS ). These companies are principally engaged in the business of producing capital goods, such as aerospace and defense products, building products, electrical equipment, and machinery; providing commercial and professional services; and transportation, such as ground and marine transportation, passenger airlines, and air freight and logistics. The Underlying Index selects constituents from the S&P SmallCap 600 Index, which is comprised of common stocks of approximately 600 small-capitalization companies that generally represent the small-cap segment of the U.S. equity market. As of October 31, 2025, the Underlying Index was comprised of 91 securities with market capitalizations ranging from $482.4 million to $11.5 billion. The Fund employs a full replication methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index. Concentration Policy. The Fund will concentrate its investments (i.e., invest 25% or more of the value of its total assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. As of August 31, 2025, the Fund had significant exposure to the industrials sector. The Funds portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time. Show less