Strategy. The Fund generally will invest at least 90% of its total assets in securities (including American depositary receipts (ADRs) and global depositary receipts (GDRs)) that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, ALPS Advisors, Inc (ALPS Advisors or the Index Provider) compiles and maintains the Underlying Index, which is composed of securities, ADRs and GDRs of 40 to 75 private equity companies, including business development companies (BDCs), alternative asset managers and other entities that are listed on a nationally recognized exchange, all of whose principal businesses are to invest in, lend capital to, or provide services to privately held businesses (collectively, listed private equity companies). Master limited partnerships (commonly known as MLPs) are not … Show more… The Fund generally will invest at least 90% of its total assets in securities (including American depositary receipts (ADRs) and global depositary receipts (GDRs)) that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, ALPS Advisors, Inc (ALPS Advisors or the Index Provider) compiles and maintains the Underlying Index, which is composed of securities, ADRs and GDRs of 40 to 75 private equity companies, including business development companies (BDCs), alternative asset managers and other entities that are listed on a nationally recognized exchange, all of whose principal businesses are to invest in, lend capital to, or provide services to privately held businesses (collectively, listed private equity companies). Master limited partnerships (commonly known as MLPs) are not eligible for inclusion in the Underlying Index. As of June 30, 2025, the Underlying Index was comprised of 70 constituents with market capitalizations ranging from $334.4 million to $118.5 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. The Fund may enter into various swap transactions, including total return swaps, to simulate full investment in the Underlying Index or to manage cash flows. 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 April 30, 2025, the Fund had significant exposure to the financials sector. The Funds portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time. Show less