Strategy. The Fund?s investment advisor, Day Hagan Asset Management (the ?Advisor?), actively manages the Fund?s portfolio using proprietary investment models. Under normal market conditions, the Fund seeks to achieve its investment objective by principally investing in unaffiliated equity exchange traded funds (?ETFs?) that track the performance of the individual sectors (?Sectors?) of the S&P 500 Index (?Index?). While the Fund expects to invest primarily in ETFs, the Fund may also invest directly in the common stocks represented in the Index. The Fund will attempt to enhance returns relative to the Index by overweighting and underweighting its exposure to the Sectors relative to the Index and may reduce its overall exposure to ETFs as determined by its risk management model. The Fund … Show more… The Fund?s investment advisor, Day Hagan Asset Management (the ?Advisor?), actively manages the Fund?s portfolio using proprietary investment models. Under normal market conditions, the Fund seeks to achieve its investment objective by principally investing in unaffiliated equity exchange traded funds (?ETFs?) that track the performance of the individual sectors (?Sectors?) of the S&P 500 Index (?Index?). While the Fund expects to invest primarily in ETFs, the Fund may also invest directly in the common stocks represented in the Index. The Fund will attempt to enhance returns relative to the Index by overweighting and underweighting its exposure to the Sectors relative to the Index and may reduce its overall exposure to ETFs as determined by its risk management model. The Fund utilizes a model to determine its allocation to each Sector. The model combines sector-specific price-based, economic, fundamental and behavioral indicators to form a composite for each Sector. By combining multiple and diverse indicators, which historically have been shown to add value in Sector allocation decisions, the model seeks to objectively assess the weight of the evidence and generate sector allocation recommendations. As of June 30, 2025, the Sectors are real estate, utilities, consumer staples, information technology, health care, financials, energy, consumer discretionary, materials, industrials, and communications services. The Fund?s allocation to a particular Sector may be greater than 25%. Conversely, the Fund?s allocation to a particular Sector may be reduced to 0% if the Sector?s model composite is at low levels. The Fund?s risk management model defines the Fund?s overall equity allocation target. The model reading represents the net percentage of indicators that are bullish. By taking the weight of the evidence of technical, monetary, economic, valuation, and sentiment indicators, the model measures the potential risk level of factors the stock market faces. Under normal market conditions, the Fund intends to invest predominantly in ETFs and common stock but will reduce its exposure by as much as 50% of its assets during times that the model deems the market to have a low reward-to-risk ratio from a historical perspective. During these times, the Fund may hold up to 50% of its assets in cash and cash equivalents, including U.S. Treasury securities and money market funds. The Fund will increase its equity investments when the risk model returns to levels indicating that major risks have potentially subsided. The Fund?s portfolio is rebalanced monthly, although the Advisor may engage in intra-month trades if the models show substantial changes. The Fund actively trades its portfolio securities in an attempt to achieve its investment objective; trading activity may also be increased in periods of high market volatility. Show less