Strategy. The Fund utilizes a ??fund of funds?? structure to invest primarily in exchange-traded funds (?ETFs??), including inverse ETFs and leveraged ETFs. ETFs that seek to track the performance of broad-based U.S. equity indices, principally the Standard & Poor?s 500 (?S&P 500?) as well as mid-cap, small-cap and total market indexes are referred to as ?Index ETFs?. The Fund may also invest in ETFs that employ leverage (?Leveraged Index ETFs?) in an effort to deliver, on a daily basis, up to three times the performance of the S&P 500 or ETFs which seek returns which are the inverse of a U.S. equity index, (?Inverse Index ETFs?). In addition, the Fund may hold cash, money market instruments, or other cash equivalents (collectively, … Show more… The Fund utilizes a ??fund of funds?? structure to invest primarily in exchange-traded funds (?ETFs??), including inverse ETFs and leveraged ETFs. ETFs that seek to track the performance of broad-based U.S. equity indices, principally the Standard & Poor?s 500 (?S&P 500?) as well as mid-cap, small-cap and total market indexes are referred to as ?Index ETFs?. The Fund may also invest in ETFs that employ leverage (?Leveraged Index ETFs?) in an effort to deliver, on a daily basis, up to three times the performance of the S&P 500 or ETFs which seek returns which are the inverse of a U.S. equity index, (?Inverse Index ETFs?). In addition, the Fund may hold cash, money market instruments, or other cash equivalents (collectively, ?Cash Instruments?). The Fund?s adviser uses an active trading strategy based on a proprietary, rules-based methodology to determine the Fund?s allocation among Index ETFs, Leveraged Index ETFs, Inverse Index ETFs and Cash Instruments that seeks to take advantage of long-term trends in the market. The Fund typically invests in either ETFs or Cash Instruments depending on the adviser?s assessment of the market. When the adviser believes that conditions are favorable for investment in equities, the Fund will invest in ETFs. During periods that the adviser believes will offer the highest probability of capital appreciation, the Fund will invest primarily in Leveraged ETFs; otherwise, the Fund will invest primarily in Index ETFs. When the adviser believes that market conditions are unfavorable for equities, the Fund will invest in Inverse Index ETFs or Cash Instruments. The Fund?s investment program will emphasize active management of the Fund?s investments, with an emphasis on capturing profits on short-term movements. This strategy will result in the Fund taking frequent trading positions. Consequently, the Fund?s portfolio turnover and brokerage commission expenses may significantly exceed those of most investment funds of comparable size. Show less