Strategy. The Fund is an actively -managed exchange -traded fund (ETF) that invests, under normal circumstances, at least 80% of its total assets in domestic and foreign equity securities of companies whose economic fortunes are significantly tied to the fifth generation digital cellular network technology (5G) enabled digital economy, including companies involved in the production of 5G technology and companies that may benefit from the use of 5G, such as companies engaged in e -commerce or internet sales. The Fund invests at least 25% of its net assets in companies in the internet, computer, semiconductor and software group of industries. In selecting companies that the Adviser believes are relevant to the 5G -enabled digital economy, it seeks to identify companies that … Show more… The Fund is an actively -managed exchange -traded fund (ETF) that invests, under normal circumstances, at least 80% of its total assets in domestic and foreign equity securities of companies whose economic fortunes are significantly tied to the fifth generation digital cellular network technology (5G) enabled digital economy, including companies involved in the production of 5G technology and companies that may benefit from the use of 5G, such as companies engaged in e -commerce or internet sales. The Fund invests at least 25% of its net assets in companies in the internet, computer, semiconductor and software group of industries. In selecting companies that the Adviser believes are relevant to the 5G -enabled digital economy, it seeks to identify companies that would benefit by expanding their accessible market for their products and services as a result of the adoption of 5G. The Adviser further believes that companies that are engaged in e -commerce or internet sales, for example, may especially benefit from the adoption of 5G technology due to 5G technologys increased peak data rates, increased speed of connectivity and a more efficient use of bandwidth so that the maximum amount of data can be transmitted with the fewest transmission errors, relative to existing technology. More efficient and accurate transmission of data may result in a larger available market. The Advisers internal research and analysis leverages insights from diverse sources, including external research, to develop and refine its investment themes and identify and take advantage of trends that have ramifications for individual companies or entire industries. More specifically, targeted investments must meet the following criteria, as determined by the Adviser. Group 1: Infrastructure The companys business activities, products or services are focused on or benefit from the development of new products or services, technological improvements and advancements in scientific research in the development of 5G communication infrastructure network including core network, transmission, and radio access network, or cloud computing infrastructure. Group 2: Edge Device The companys business activities, products or services are focused on or benefit from the development of new products or services, technological improvements and advancements in scientific research in the access of 5G networks by end users, including the edge device itself, such as a cellular phone, or the key component within the edge device, such as a baseband processor. The edge device is a type of networking device that connects an internal local area network with an external wide area network or the internet. The edge device provides interconnectivity and traffic translation between different networks on their entering edges or the network boundaries. Group 3: Services The companys business activities, products or services are enabled by the proliferation of 5G infrastructure and edge devices, which can be further categorized into enhanced mobile broadband (eMBB), massive machine type communications (mMTC) and ultra -reliable low latency communications (uRLLC). The possible products and services may include video streaming, cloud gaming, autonomous driving, augmented reality and virtual reality (AR/VR), Internet of Things (IoT), and remote surgery. Cloud gaming is a type of online gaming that aims to provide smooth and direct playability to end users of games across various devices. It could include a host gaming server capable of executing a gaming engine and streaming the gaming data to the client device. IoT is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human -to-human or human -to-computer interaction. The Adviser selects investments for the Fund that represent its highest -conviction investment ideas within the above groups, which the Adviser believes offer the best risk -reward opportunities. The Advisers process for identifying companies uses both top down (thematic research sizing the potential total available market and changes in the underlying technological cycle) and bottom up (valuation, fundamental and quantitative measures) approaches. In managing the Funds portfolio, the Adviser may engage in frequent transactions, resulting in a higher portfolio turnover rate. Under normal circumstances, at least 80% of the Funds assets will be invested in equity securities, including common stocks, partnership interests, business trust shares and other equity investments or ownership interests in business enterprises, including companies involved in the production of 5G technology and companies that may benefit from the use of 5G, such as companies engaged in e -commerce or internet sales. The Funds investments include micro-, small-, medium- and large -capitalization companies. The Fund invests at least 25% of its net assets in companies in the internet, computer, semiconductor and software group of industries. The Funds investments in foreign equity securities are in both developed and emerging markets. The Fund may invest in foreign securities (including investments in American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs)) and securities listed on local foreign exchanges. Outside of the Funds 80% policy, the Fund may invest up to 20% of its net assets in cash and cash equivalents. Show less