Strategy. The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (S&P DJI or the Index Provider) compiles, maintains and calculates the Underlying Index, which is designed to measure the equal weighted performance of securities included in the S&P 500 Equal Weight Index (the Parent Index) that also meet the Index Providers sustainability and environmental, social and governance & economic (ESG) criteria, while maintaining similar overall industry group weights as the Parent Index. The Parent Index consists of all of the components of the S&P 500 Index. However, unlike the S&P 500 Index, which employs a market … Show more… The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (S&P DJI or the Index Provider) compiles, maintains and calculates the Underlying Index, which is designed to measure the equal weighted performance of securities included in the S&P 500 Equal Weight Index (the Parent Index) that also meet the Index Providers sustainability and environmental, social and governance & economic (ESG) criteria, while maintaining similar overall industry group weights as the Parent Index. The Parent Index consists of all of the components of the S&P 500 Index. However, unlike the S&P 500 Index, which employs a market capitalization weighted methodology, the Parent Index assigns each component security the same weight. Like the Parent Index, constituents of the Underlying Index are equally weighted. Companies that are included in the Parent Index are evaluated for inclusion in the Underlying Index based on multiple considerations. The Underlying Index employs negative screens to exclude securities of companies with business activities that do not meet the eligibility criteria for the Underlying Index. Companies classified as part of the Global Industry Classification Standard (GICS ) Oil & Gas Storage & Transportation Sub-Industry are excluded from the eligible universe. Additional screens rely on information from Sustainalytics, a globally recognized independent provider of ESG research, ratings, and data. The Underlying Index uses this information to screen for companies with certain business activities above the S&P DJI Level of Involvement Threshold or the S&P DJI Significant Ownership Threshold. These thresholds generally exclude from the Underlying Index companies that derive 0-25% or more of their revenues from, or that own 10% or more of another company that engages in, the following activities: ? Arctic oil & gas exploration ? Alcoholic beverages ? Cannabis production, distribution or retail sale ? Controversial weapons ? Genetically modified plants and seeds ? Gambling ? Military contracting ? Nuclear power ? Oil and gas exploration, production, generation, refinement, transportation or storage or supporting products or services ? Oil sands extraction ? Palm oil production and distribution ? Pesticides ? Riot control weapons ? Shale energy extraction ? Small arms ? Thermal coal ? Tobacco products The Index Provider also utilizes information from the Sustainalytics' Global Standards Screening (GSS) assessment to exclude certain companies that cause, contribute to or are linked to violations of international norms and standards, in relation to the principles of the United Nations Global Compact (UNGC). The UNGC is an arrangement by which companies voluntarily and publicly commit to a set of principles drawn from key UN Conventions and Declarations. The principles of the UNGC represent a set of values that the UN believes responsible businesses should incorporate into their operations in order to meet fundamental responsibilities in the areas of human rights, labor, the environment, and anti-corruption. Companies are classified into three statuses based on whether the company is assessed as acting in accordance with the UNGC principles, and their associated standards, conventions and treaties, including non-compliant, watchlist and compliant. Companies classified as non-compliant are ineligible for inclusion in the Underlying Index. Each company included in the Parent Index and eligible for investment based on the above screens is then assigned an S&P Global ESG score, which is designed to measure a companys performance on and management of material ESG risks, opportunities, and impacts. The S&P Global ESG Score is a relative score that compares a companys performance in managing ESG risks, opportunities, and impacts to its peers within the same industry classification. The S&P Global ESG Score uses a double materiality approach whereby a sustainability issue is considered material if it presents a significant impact on society or the environment, as well as a companys value drivers, competitive position, and long-term shareholder value creation. S&P Global ESG scores are derived from the S&P Global Corporate Sustainability Assessment (CSA), which is an annual analysis that seeks to identify how well-equipped a company is to recognize and respond to emerging sustainability opportunities and challenges in the global market. S&P Global Sustainable1, an affiliate of the Index Provider, opens the CSA questionnaire for all subject companies in April. The CSA uses proprietary industry classifications, derived from the GICS , to analyze companies using industry-specific questionnaires. Companies provide up to 1,000 data points in response to the questionnaires which are used to score each companys performance in relation to each specific ESG subject. If a company chooses not to actively participate in the assessment, it may be assessed based on publicly available information, including a companys financial reports, press releases and other public statements, and other information available on the companys website. Companies are ranked from highest to lowest according to their S&P Global ESG scores, and the top 40% of constituents within each eligible GICS industry group generally are included in the Underlying Index. If a company does not have a S&P Global ESG score, it is excluded from the Underlying Index. As of October 31, 2025, the Underlying Index was comprised of 185 constituents with market capitalizations ranging from $5.7 billion to $4.9 trillion. The Fund employs a full replication methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index. Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. Show less