Strategy. The Fund uses a passive management (or indexing) approach to track the total return performance, before fees and expenses, of the Index. BlueStar Hydrogen & NextGen Fuel Cell Index The Index is a rules-based index that tracks the performance of a group of globally listed equity securities of companies involved in the development of hydrogen-based energy sources and fuel cell technologies. The Index is predominantly comprised of pure-play companies, i.e. , those that generate at least 50% of their revenues from products that facilitate hydrogen-based energy production, including fuel cells capable of using hydrogen as a fuel source (collectively, H2 Companies). At the time of each quarterly reconstitution of the Index, pure-play companies will comprise at least 85% of the … Show more… The Fund uses a passive management (or indexing) approach to track the total return performance, before fees and expenses, of the Index. BlueStar Hydrogen & NextGen Fuel Cell Index The Index is a rules-based index that tracks the performance of a group of globally listed equity securities of companies involved in the development of hydrogen-based energy sources and fuel cell technologies. The Index is predominantly comprised of pure-play companies, i.e. , those that generate at least 50% of their revenues from products that facilitate hydrogen-based energy production, including fuel cells capable of using hydrogen as a fuel source (collectively, H2 Companies). At the time of each quarterly reconstitution of the Index, pure-play companies will comprise at least 85% of the weight of the Index. Up to 15% of the Indexs weight, at the time of each quarterly reconstitution, may be comprised of non-pure-play companies, i.e. , those that are engaged in hydrogen or hydrogen-based fuel cell projects, including the production of hydrogen and other industrial gases, and either have the potential to become pure-play companies or that play a significant role in the global hydrogen or fuel cell segment. Vehicle manufacturers are not eligible for inclusion in the Index. The Index may include companies in developed countries, including the United States, as well as emerging market countries. At the time of each quarterly reconstitution of the Index, MV Index Solutions GmbH (the Index Provider) identifies the universe of pure-play and non-pure-play companies. To be eligible for being added to the Index, such companies must meet investibility requirements (the Investibility Requirements), including: a market capitalization of at least US$150 million that is within the top 85% of the free-float market capitalization of the universe of pure-play companies; a 3-month average daily value traded greater than or equal to US$1 million; 250,000 shares traded per month over the prior six months; and a free float ( i.e. , the proportion of shares that are publicly available) of at least 10%. Once included in the Index, companies are eligible to remain in the Index at lower investibility thresholds. At the time of each quarterly reconstitution of the Index, pure-play companies are added to the Index based on their free-float market capitalization (from largest to smallest) until their aggregate free-float market capitalization is at least 90% of the free-float market capitalization of all pure-play companies meeting the Investibility Requirements. In the event the Index would include fewer than 25 pure-play companies, the Index will include non-pure-play companies (from largest to smallest based on their free-float market capitalization) meeting the Investibility Requirements and, if necessary, add the next largest pure-play or non-pure-play company that does not meet the Investibility Requirements until there are a minimum of 25 companies in the Index. At the time of each quarterly reconstitution of the Index, Index constituents are weighted using a modified market-capitalization methodology that establishes a minimum aggregate weight of 85% for pure-play companies, limits the weight of any individual security to 10% (4% for industrial gas companies), and adjusts the weight of a constituent downward based on certain liquidity criteria. Excess weight resulting from the above adjustments is redistributed among the remaining constituents. Additionally, at the time of each rebalance of the Index, the aggregate weight of constituents with a weight greater than or equal to 5% is limited to 50%, and the weight of the smallest constituent(s) that would otherwise cause the Index to exceed the 50% threshold and all other constituents with a weight greater than 4.5% but less than 5% will be set to 4.5%. The Index is reconstituted quarterly, effective after the close of trading on the third Friday of each March, June, September, and December (the Rebalance Date). For each rebalance and reconstitution of the Index, Index constituents and their weights are determined based on data prior to the Rebalance Date. As of March 31, 2024, the Index was composed of 25 constituents. The Index was established in 2021 and is owned and maintained by the Index Provider. The Index Provider partnered with the Funds investment adviser to co-develop the methodology used to determine the securities included in the Index. The Funds Investment Strategy Under normal circumstances, at least 80% of the Funds net assets (plus borrowings for investment purposes) will be invested in H2 Companies (as described above). The Fund will generally use a replication strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate proportions as in the Index. However, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Funds sub-adviser believes it is in the best interests of the Fund ( e.g. , when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). To the extent the Index concentrates ( i.e. , holds more than 25% of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index. The Index is expected to be concentrated in hydrogen and fuel cell companies. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. Show less