Strategy. The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts 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 and owned by Nasdaq, Inc. (the Index Provider ), and is calculated and maintained by Nasdaq. The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity. The Index is a modified market capitalization-weighted index designed to track the performance of U.S.-listed securities issued by small, mid and large capitalization companies domiciled in China or India. To be eligible for inclusion … Show more… The Fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks and depositary receipts 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 and owned by Nasdaq, Inc. (the Index Provider ), and is calculated and maintained by Nasdaq. The Index Provider may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity. The Index is a modified market capitalization-weighted index designed to track the performance of U.S.-listed securities issued by small, mid and large capitalization companies domiciled in China or India. To be eligible for inclusion in the Index, a security must be listed on a qualifying U.S. securities exchange and be issued by a company domiciled in China (excluding Taiwan) or India. In addition, a security must be issued by a company with a market capitalization of at least $250 million, have a three-month average daily trading volume of at least $1 million and a minimum free float of 20%. Qualifying securities are then sorted into two groups based upon their country of domicile (Chinese issuers and Indian issuers). Each group of securities is then ranked by market capitalization and three-month average daily trading volume. The two ranks for each security are added together to provide a composite score. Each group of securities is then ranked based upon this composite score. The 25 securities with the highest rank from China and the 25 securities from India with the highest rank are selected for inclusion in the Index. If there are less than 25 qualifying securities from either China or India, securities will be added from the other country until the Index is composed of 50 securities. Securities chosen for inclusion in the Index are weighted according to a modified market capitalization weighting methodology based on the composite score described above. Each Chinese and Indian security ranked #1 through #3 is assigned a weight of 7.0%. Each Chinese and Indian security ranked #4 through #6 is assigned a weight of 4.0%. Each Chinese and Indian security ranked #7 through #9 is assigned a weight of 2.0%. The remaining Index weight is equally distributed among the remaining securities. The Index may be significantly composed of American Depositary Receipts ( ADRs ) and American Depositary Shares ( ADSs ). ADRs are certificates issued by a U.S. bank that represent a banks holdings of a stated number of shares of a non U.S. company. ADSs are vehicles for non U.S. companies to list their equity shares on a U.S. exchange and are U.S. dollar denominated, and each share represents one or more underlying shares in a non U.S. company. The Index is rebalanced and reconstituted semi-annually and the Fund will make corresponding changes to its portfolio shortly after the Index changes are made public. 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, 2022, the Index was composed of 50 securities and the Fund had significant investments in consumer discretionary companies, information technology companies, Chinese issuers, Indian issuers and Asian issuers, although this may change from time to time. 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. 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. Show less