Strategy. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities with a track record of paying dividends. The fund considers a company to have a track record of paying dividends if the security has paid a dividend within the past 12 months. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund generally seeks investments in large-cap companies. The fund typically employs a value approach in selecting investments. The advisers in-house research team seeks … Show more… The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities with a track record of paying dividends. The fund considers a company to have a track record of paying dividends if the security has paid a dividend within the past 12 months. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund generally seeks investments in large-cap companies. The fund typically employs a value approach in selecting investments. The advisers in-house research team seeks dividend-paying companies that appear to be undervalued by various measures and may be temporarily out of favor but have good prospects for capital appreciation and dividend growth. At times, the fund may have a significant portion of its assets invested in the same economic sector. The fund is an actively-managed, exchange-traded fund (ETF) that does not disclose portfolio holdings daily. In order to provide market participants with information on the funds investments, the fund publishes a Proxy Portfolio on its website daily. A Proxy Portfolio is a basket of securities that is designed to closely track the daily performance of the funds portfolio holdings. While the Proxy Portfolio includes some of the funds holdings, it is not the funds actual portfolio. The Proxy Portfolio could be based on a broad-based securities index or the funds recently disclosed portfolio holdings. The funds Portfolio Overlap is available on the funds website daily. The Portfolio Overlap is the percentage weight overlap between the holdings of the prior business days Proxy Portfolio compared to the holdings of the fund that formed the basis for the funds calculation of net asset value (NAV) at the end of the prior business day. Show less