Strategy. The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, Dorsey, Wright & Associates, LLC (Dorsey Wright or the Index Provider) compiles and maintains the Underlying Index, which is composed of at least 30 securities of companies in the health care sector that have powerful relative strength or momentum characteristics. Dorsey Wright selects these securities from 2,000 of the largest constituents by market capitalization within the Nasdaq US Benchmark Index, a float adjusted market capitalization-weighted index designed to track the performance of the U.S. equity market. Relative strength is an investing technique that seeks to determine the strongest performing securities by measuring … Show more… The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, Dorsey, Wright & Associates, LLC (Dorsey Wright or the Index Provider) compiles and maintains the Underlying Index, which is composed of at least 30 securities of companies in the health care sector that have powerful relative strength or momentum characteristics. Dorsey Wright selects these securities from 2,000 of the largest constituents by market capitalization within the Nasdaq US Benchmark Index, a float adjusted market capitalization-weighted index designed to track the performance of the U.S. equity market. Relative strength is an investing technique that seeks to determine the strongest performing securities by measuring certain factors, such as a securitys relative performance against the overall market over a set period or a securitys relative strength value, which is derived by comparing the rate of increase of the securitys price as compared to that of a benchmark index. The Index Provider uses a proprietary methodology to analyze the relative strength of each security within the universe of eligible securities and determine a momentum score. In general, momentum is the tendency of an investment to exhibit persistence in its relative performance; a momentum style of investing emphasizes investing in securities that have had better recent performance compared to other securities. The momentum score for each security included in the Underlying Index is based on intermediate and long-term price movements of the security as compared to a representative benchmark and other eligible securities within the Underlying Index universe. After giving each eligible security a momentum score, the Index Provider selects at least 30 securities with the highest momentum scores from the health care sector, as determined by the Index Provider, for inclusion in the Underlying Index. Companies in the health care sector are principally engaged in the business of providing health care-related products and services, including biotechnology, pharmaceuticals, medical technology and supplies, and facilities. The total number of securities in the Underlying Index may vary depending on the capitalization characteristics of the securities that qualify for inclusion in the Underlying Index. The Index Provider weights each security by its momentum score, with higher scoring securities representing a greater weight in the Underlying Index. As of June 30, 2025, the Underlying Index was comprised of 39 constituents with market capitalizations ranging from $619.0 million to $194.8 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 April 30, 2025, the Fund had significant exposure to the health care sector. The Funds portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time. Show less