Strategy. The Fund will normally invest at least 90% of its net assets (plus any borrowings for investment purposes) in the common stocks, depositary receipts, preferred shares and real estate investment trusts ( REITs ) 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 owned and was developed and sponsored by Riskalyze, Inc. (the Index Provider ). The Index Provider is a financial technology company that develops platforms to capture quantitative measurements of client and portfolio risk for investment advisors. The Index Provider has retained Nasdaq, Inc. to calculate and maintain the Index. Nasdaq, Inc. may, from time to time, exercise reasonable discretion as … Show more… The Fund will normally invest at least 90% of its net assets (plus any borrowings for investment purposes) in the common stocks, depositary receipts, preferred shares and real estate investment trusts ( REITs ) 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 owned and was developed and sponsored by Riskalyze, Inc. (the Index Provider ). The Index Provider is a financial technology company that develops platforms to capture quantitative measurements of client and portfolio risk for investment advisors. The Index Provider has retained Nasdaq, Inc. to calculate and maintain the Index. Nasdaq, Inc. may, from time to time, exercise reasonable discretion as it deems appropriate in order to ensure Index integrity. The Index is designed to select low volatility securities issued by companies operating in developed market countries (excluding the United States). According to the Index Provider, to be eligible for inclusion in the Index, a security must be a constituent of the Nasdaq Developed Markets Ex-US Large Mid Cap Index TM (the Base Index ) and have a minimum three-month average daily dollar trading volume of $5 million. The Base Index is a comprehensive, rules-based index designed to measure stock market performance of companies operating in developed market countries (excluding the United States), as determined by Nasdaq, Inc. Nasdaq, Inc. classifies a country as developed based on a number of criteria, including national income per capita, national market capitalization and national trading volume. Nasdaq Inc. classifies a company as operating in a country primarily by its country of incorporation, domicile and primary exchange listing. The Index may include securities that are denominated in non-U.S. currencies. According to the Index Provider, security selection for the Index will be conducted in the following manner: 1. The selection universe for the Index begins with all eligible securities in the Base Index. 2. The Base Indexs industry weights are calculated and assigned to the Index. 3. Securities are then ranked by trailing twelve month price volatility, a measure of the securitys volatility over the preceding year, within their respective countries. 4. The 25 securities with the lowest volatility from each country are selected for inclusion in the Index. If fewer than 25 securities qualify from a particular country, all securities are selected from that country for inclusion in the Index. 5. Securities within the same country and industry are equally weighted and then adjusted so that no security weight exceeds 3% of the Index. 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 June 30, 2022, the Index was composed of 438 securities with market capitalization ranges from $1.63 billion to $322.06 billion. As of June 30, 2022, the Fund had significant investments in financial companies, Asian issuers and European issuers, although this may change from time to time. 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