Strategy. The Fund seeks to track the total return of the securities composing the Nasdaq-100 Index (the Index), taking into consideration redemptions, sales of additional shares, and other adjustments described below. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments with economic characteristics similar to the stocks represented in the Index. The Index is an unmanaged index comprising common stocks of the 100 largest domestic and international non-financial companies on the broader Nasdaq Composite Index based on market capitalization. As of December 31, 2024, the market capitalization of the Index companies ranged from $17.3 billion to $3.8 trillion with a weighted average market capitalization of $1.4 trillion. Market … Show more… The Fund seeks to track the total return of the securities composing the Nasdaq-100 Index (the Index), taking into consideration redemptions, sales of additional shares, and other adjustments described below. Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in investments with economic characteristics similar to the stocks represented in the Index. The Index is an unmanaged index comprising common stocks of the 100 largest domestic and international non-financial companies on the broader Nasdaq Composite Index based on market capitalization. As of December 31, 2024, the market capitalization of the Index companies ranged from $17.3 billion to $3.8 trillion with a weighted average market capitalization of $1.4 trillion. Market capitalizations of companies within the Nasdaq-100 Index are subject to change. The Index is modified capitalization-weighted, meaning that companies with larger market capitalizations will contribute more to the Indexs value than companies with smaller market capitalizations. Except under extraordinary circumstances that may result in an interim evaluation, the Index is rebalanced quarterly, and its composition is reviewed on an annual basis. Replacements to Index constituents are made effective after the close of trading on the third Friday in December. The Fund mirrors the Indexs rebalancing process. The Fund is not sponsored, endorsed, sold or promoted by The Nasdaq Group, Inc. The Fund will invest primarily in common stocks of the companies that compose the Index. The Fund uses a replication index method, investing in the common stock of each company in the Index in approximately the same proportion as represented in the Index itself. The Fund intends to concentrate its investments only to the extent that the Index does. As of December 31, 2024, the Index was concentrated in the information technology sector. While not required, the Fund will generally sell securities that the Index provider removes from the Index. The Fund may also invest in exchange-traded funds (ETFs) that provide exposure to the Index. Derivatives, such as options and futures, and options on such futures that provide exposure to the stocks in the Index may be held by the Fund incidental to its main investment strategy in order to manage cash balances, to maintain liquidity to meet shareholder redemptions, or minimize trading costs. The Fund may also lend its securities. The Fund is non-diversified, which means it may hold securities of a smaller number of issuers and invest a greater percentage of its assets in a particular issuer than a diversified fund. Show less