Principal Investment Risks: You can lose money on your investment in the Fund. The Fund’s investments will be concentrated in an industry or group of industries and the value of Shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries. The equity securities, including those of mid-capitalization companies, held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. Foreign securities may be subject to certain risks such as loss due to foreign currency or political or eoncomic instablity or taxes.
The Fund is 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. The Fund is not actively managed, and the Fund’s sub-adviser would only sell shares of an equity security if that security is removed from the Index or the removal of that security is otherwise required upon a reconstitution of the Index in accordance with the Index methodology.
ETF shares are bought and sold through exchange trading at market price (not NAV), and are not individually redeemed from the Fund. Shares may trade at a premium or discount to their NAV in the secondary market. Brokerage commissions will reduce returns.
For more information about the risks of investing in the Fund, see the section in the Fund’s Prospectus titled “Principal Investment Risks.”