Strategy. The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by Nasdaq, Inc. (the Index Provider ). The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity. The Index is designed to measure the performance of the non-technology companies in the Nasdaq-100 Index . The Nasdaq-100 Index is designed to measure the performance of 100 of the largest Nasdaq-listed non-financial companies. According to the Index Provider, in order to be eligible … Show more… The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the securities that comprise the Index. The Fund, using an indexing investment approach, attempts to replicate, before fees and expenses, the performance of the Index. The Index is developed, maintained and sponsored by Nasdaq, Inc. (the Index Provider ). The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity. The Index is designed to measure the performance of the non-technology companies in the Nasdaq-100 Index . The Nasdaq-100 Index is designed to measure the performance of 100 of the largest Nasdaq-listed non-financial companies. According to the Index Provider, in order to be eligible for inclusion in the Nasdaq-100 Index , a security must meet the following criteria: (i) the issuer of the securitys primary U.S. listing must be exclusively listed on the Nasdaq Global Select Market or the Nasdaq Global Market ; (ii) the security must not be issued by a company classified as being in the financial industry according to the Industry Classification Benchmark; and ; (iii) the security must meet the liquidity requirements and other eligibility criteria of the Nasdaq-100 Index . The Nasdaq-100 Index selects 100 securities based on market capitalizations, subject to certain buffers designed to limit turnover. The Index includes all the securities from the Nasdaq-100 Index not classified under the technology industry, according to the Industry Classification Benchmark, and equally weights each security. The Fund may invest in common stocks and depositary receipts issued by mid and large capitalization companies. The Index is rebalanced quarterly and reconstituted annually and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public. The Indexs quarterly rebalance schedule may cause the Fund to experience a higher rate of portfolio turnover. The Fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated. As of March 31, 2025, the Index was composed of 56 securities and the Fund had significant investments in industrial companies , although this may change from time to time. The Funds investments will change as the Index changes and, as a result, the Fund may have significant investments in jurisdictions or investment sectors that it may not have had as of March 31, 2025. To the extent the Fund invests a significant portion of its assets in a given jurisdiction or investment sector, the Fund may be exposed to the risks associated with that jurisdiction or investment sector. In order to gain exposure to certain Chinese companies that are included in the Index but are unavailable to direct investment by foreign investors, the Fund invests significantly in non-Chinese shell companies that have created structures known as variable interest entities ( VIEs ) in order to gain exposure to such Chinese companies. Show less