The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, preferred shares and real estate investment trusts that comprise the Index.

The Index is designed to select low volatility securities issued by companies operating in developed market countries (excluding the United States).

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, preferred shares and real estate investment trusts that comprise the Index.

The Index is designed to select low volatility securities issued by companies operating in emerging market countries.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks primarily capital appreciation in the long term and secondarily capital preservation by investing in companies across any size in the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in equity securities of companies domiciled in the United States or listed on a U.S. securities exchange.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

During unfavorable periods, the fund may invest all or a portion of its net assets in cash, cash equivalents and short-term fixed income exchange-traded funds.
 

The fund seeks total return in the long term by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team gains exposure to Commodity Futures through a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands (the Subsidiary).

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The Subsidiary’s holdings will primarily consist of Commodity Futures, which are contractual agreements to buy or sell a particular commodity or financial instrument at a pre-determined price at a settlement date in the future.

The fund will invest up to 25% of its net assets in the Subsidiary.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in the Asia Pacific region excluding Japan.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to provide a benchmark for investors interested in tracking some of the largest and most liquid public companies that are domiciled in Brazil, India, China (including Hong Kong) and South Korea.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in Brazil.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks primarily current income and secondarily capital appreciation by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests primarily in equity securities listed on U.S. exchanges.

In addition, the team also utilizes an option strategy consisting of writing (selling) U.S. exchange-traded covered call options on the S&P 500 Index in order to seek additional cash flow.

In selecting securities for the portfolio, the research team focuses on higher dividend paying common stocks.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Additionally, the fund invests in non-U.S. securities that are either directly listed on a U.S. securities exchange or in the form of depositary receipts.

The fund seeks primarily current income and secondarily capital appreciation in the long term by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in municipal debt securities that pay interest that is exempt from regular federal income taxes and California income taxes (collectively Municipal Securities).

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The types of Municipal Securities in which the fund may invest include municipal lease obligations, municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds, and pre-refunded and escrowed to maturity bonds.

In addition, Municipal Securities include securities issued by custodial receipt trusts, which are investment vehicles the underlying assets of which are municipal bonds.

The fund may invest in Municipal Securities of any duration and any maturity.

However, the fund will limit its investments in Municipal Securities issued by or on behalf of territories or possessions of the U.S., and/or the political subdivisions, agencies, authorities and other instrumentalities of such territories or possessions, to 20% of its net assets.

Also, the fund will invest at least 50% of its net assets in Municipal Securities that are, at the time of investment, rated investment grade.

The fund will invest no more than 50% of its net assets in Municipal Securities that are, at the time of investment, not investment grade.

Additionally, the fund may invest up to 10% of its net assets in Distressed Municipal Securities.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index seeks to provide exposure to well-capitalized companies with superior market positions with the potential to offer stability and performance over time.

Next, the research team invests significantly in the common stocks and real estate investment trusts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks primarily current income and secondarily total return by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of closed-end investment companies that are listed and traded in the United States on registered exchanges.

In selecting the closed-end funds for the portfolio, the team utilizes a proprietary model that identifies, sorts and scores closed-end funds based upon various market metrics and economic factors.

These market metrics and economic factors include fund size, duration, leverage ratio, average maturity, earnings rate, undistributed net investment income, distribution rate, premium or discount, net asset value and share price returns, sponsor and distribution policies.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may hold closed-end funds that invest in U.S. and non-U.S. equity securities, U.S. and non-U.S. government debt securities, corporate debt securities, municipal securities, commodities, preferred securities, convertible securities, high yield securities, master limited partnerships, real estate investment trusts and senior loans.

In addition, the fund may also invest in exchange-traded funds.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of B Shares, depositary receipts and U.S.-listed common stock issued by small, mid and large cap companies operating in China.

B Shares are shares of Chinese companies traded on either the Shanghai exchange in U.S. dollars or on the Shenzhen stock exchange in Hong Kong dollars.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of U.S.-listed securities issued by small, mid and large capitalization companies domiciled in China or India.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of companies involved in the cloud computing industry.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the consumer discretionary sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the consumer r staples sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in developed markets excluding the United States.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small cap companies operating in developed market countries excluding the United States.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is an indicated annual dividend yield weighted index of 100 stocks selected from the developed-market portion of the Dow Jones World Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the equity securities that comprise the Index.

The Index consists exclusively of U.S.-listed exchange-traded funds.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund is classified as non-diversified.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the exchange-traded funds that comprise the Index.

The Index is designed to provide targeted exposure to the five First Trust sector and industry-based ETFs and an ultra-short duration ETF, the First Trust Enhanced Short Maturity ETF.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the exchange-traded funds that comprise the Index.

The Index is designed to provide targeted exposure to the five First Trust sector-based ETFs that offer the greatest potential to outperform the other ETFs in the selection universe and that satisfy certain trading volume and liquidity requirements.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the exchange-traded funds that comprise the Index.

The Index is designed to provide targeted exposure to the five First Trust country/region-based ETFs that offer the greatest potential to outperform the other ETFs in the selection universe.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the equity securities that comprise the Index.

The Index is designed to track the overall performance of the 50 stocks with the highest dividend yield comprising the NASDAQ US Large Mid Index exhibiting high levels of relative strength.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the equity securities that comprise the Index.

The Index is designed to track the overall performance of the 50 stocks comprising the NASDAQ US Large Mid Cap Index that exhibit the lowest levels of volatility while still maintaining high levels of relative strength.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the equity securities that comprise the Index.

The Index is designed to track the overall performance of the 50 most undervalued stocks comprising the NASDAQ US Large Mid Cap Index that exhibit high levels of relative strength.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund is classified as non-diversified.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks or an exchange-traded fund that comprise the Index.

The Index is designed to tactically allocate exposure to one of three allocations, Nasdaq US 500 Large Cap Index, Nasdaq US 500 Large Cap Equal Weight Index, or First Trust Enhanced Short Maturity ETF, based on daily relative strength readings.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the price and yield performance of the benchmark index, before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is the equal weight version of the Dow Jones Industrial Average.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to measure the performance of the largest and most actively traded securities issued by U.S. companies in the Internet industry.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in micro-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to measure the performance of micro-cap stocks issued by U.S. companies that are comparatively liquid and have superior fundamentals.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in emerging market countries.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks maximum total return and current income by investing in companies outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in bonds, notes and bills issued or guaranteed by entities incorporated or domiciled in emerging market countries that are denominated in the local currency of the issuer.

The team considers emerging market countries to be countries that are characterized by developing commercial and financial infrastructure with significant potential for economic growth and increased capital market participation by foreign investors.

Also, the team reviews fundamental economic and structural themes that impact long and medium term asset returns in emerging markets.

In addition, the team also considers shorter term market drivers such as valuations, liquidity conditions and sentiment.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in Bonds of any credit quality, including unrated securities, high-yield bonds, and with effective or final maturities of any length.

Additionally, the fund will invest only in Bonds that, at the time of purchase, are performing, and not in default or distressed.

The fund may invest in foreign currencies and derivative instruments, including exchange-listed futures contracts, exchange-listed options, exchange-listed options on futures contracts, forward currency contracts, non-deliverable forward currency contracts and exchange-listed currency options.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small cap companies operating in emerging market countries.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the energy sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks current income by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of U.S. dollar-denominated fixed- and variable-rate debt securities.

These may include securities issued or guaranteed by the U.S. government or its agencies, instrumentalities or U.S. government-sponsored entities, residential and commercial mortgage-backed securities, asset-backed securities, U.S. corporate bonds, fixed income securities issued by non-U.S. corporations and governments, municipal obligations, privately issued securities and other debt securities bearing fixed or floating interest rates.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates fixed income sectors and macro market trends.

Other factors in consideration when selecting portfolio securities are credit quality, yield, interest rate sensitivity and liquidity.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Additionally, the fund invests significantly in debt securities that are, at the time of purchase, investment grade.

The fund may invest in asset-backed securities and mortgage-related securities, as well as money market securities.

The fund may also invests up to 20% of its net assets in floating rate loans representing amounts borrowed by companies or other entities from banks and other lenders.

In addition, the fund may invest in investment companies, such as exchange-traded funds, that invest primarily in debt securities.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in Europe.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by companies operating in countries in the Eurozone.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the financial services sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks and real estate investment trusts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to measure the stock performance of companies engaged in specific real estate activities, including the ownership, trading and development of income-producing real estate, in the North American, European and Asian real estate markets.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in Germany.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index tracks companies actively engaged in large civil and capital projects such as infrastructure, utilities, transportation, telecommunications, commercial, residential, and commerce facilities and whose role is within the engineering, designing, planning, consulting, project managing, and/or constructing of these projects.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks total return by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in commodity futures contracts and exchange-traded commodity linked instruments (collectively, Commodities Instruments) through a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands (the Subsidiary).

The Subsidiary may invest without limitation in Commodities Instruments.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will invest up to 25% of its net assets in the Subsidiary and the remainder of its assets in short-term investment grade fixed income securities, money market instruments, ETFs, and cash and other cash equivalents.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index measures the performance of public companies throughout the world that are active in the wind energy industry.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the health care sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks current income by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests primarily in equity securities listed on U.S. exchanges.

In addition, the team also utilizes an option strategy consisting of buying U.S. exchange-traded put options and writing (selling) U.S. exchange-traded covered call options on the S&P 500 Index.

In selecting securities for the portfolio, the research team focuses on higher dividend paying common stocks.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Additionally, the fund invests in non-U.S. securities that are either directly listed on a U.S. securities exchange or in the form of depositary receipts.

The fund seeks capital appreciation by investing in mid-and large-size companies outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in common stocks and depositary receipts of developed market companies listed and traded on non-U.S. exchanges that exhibit low future expected volatility.

In selecting securities for the portfolio, the team employs volatility forecasting models to forecast future expected volatility.

The team conducts volatility forecasts for securities comprising the starting universe and ranks them from low to high based on their volatility forecasts.

In addition, the team narrows the investable universe and selects between 100 and 400 securities for inclusion in the portfolio based on future expected volatility.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager allocates larger weights to securities with lower future expected volatility in the portfolio.

The fund seeks capital appreciation by investing in large-and mega-size companies in the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks of domestic companies that exhibit low future expected volatility.

The team employs volatility forecasting models to forecast future expected volatility.

In addition, the team conducts volatility forecasts for securities comprising the investable universe and ranks them from low to high based on their volatility forecasts.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager targets 50 to 200 securities for inclusion in the portfolio based on future expected volatility.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to track the performance of the 50 largest and most liquid Indian securities listed on the National Stock Exchange of India by investing in all of the components of the NIFTY 50.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the industrials and producer durables sectors that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to measure the performance of companies that are directly or indirectly engaged in improving agricultural yields.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to measure the market performance of the 50 highest dividend yielding companies involved in the upstream (i.e., generally exploration and production) segment of the natural resources sector.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of companies that are either actively using, investing in, developing, or have products that are poised to benefit from blockchain technology and/or the potential for increased efficiency that it provides to various business processes.

The Index seeks to include only companies that have devoted material resources to the use of blockchain technologies.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks total return and to provide current income by investing in companies in the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in institutional preferred securities and income-producing debt securities.

Preferred securities are a type of equity security that have preference over common stock in the payment of distributions and the liquidation of a company’s assets, but are generally junior to all forms of the company’s debt, including both senior and subordinated debt.

In selecting securities for the portfolio, the team focuses on securities representing the best relative value.

The team combines a bottom-up and top-down approach to security selection that encompasses three significant areas of analysis, such as credit fundamentals; relative value; and technical aspects of the securities.

These may include interest rate sensitivity, call features, maturities, trading volumes, liquidity and pricing inefficiencies.

As part of the bottom-up analysis, the team focuses on individual security analysis, idiosyncratic risks, credit fundamentals and opportunistic trading.

The top-down analysis focuses on sector and industry analysis, duration and interest rate analysis, capital structure positioning and systemic risks.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may also invest in preferred securities issued by real estate investment trusts.

The fund may also invest in retail preferred securities.

Additionally, the fund may invest in Income Securities that have certain characteristics similar to preferred securities.

The fund may also invest in floating-rate and fixed-to-floating rate securities as well.

In addition, the fund may invest in U.S. and non-U.S. debt and equity securities that are traded over-the-counter or are listed on an exchange.

The fund may also invest U.S. dollar-denominated depositary receipts and U.S. dollar-denominated foreign securities.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index measures the performance of the top 50 largest and typically most liquid companies that are domiciled outside the U.S. within the IPOX Global Composite Index.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index seeks to measure the performance of the equity securities of the 100 largest and typically most liquid initial public offerings (including spin-offs and equity carve-outs) of companies that are economically tied to Europe.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

Also, the fund is classified as non-diversified.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in Japan.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to select value stocks from the NASDAQ US 500 Large Cap Index (the Base Index) that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to select growth stocks from the NASDAQ US 500 Large Cap Index (the Base Index) that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to select value stocks from the NASDAQ US 500 Large Cap Index (the Base Index) that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in Latin America.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks total return in the long term by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in U.S. exchange-listed equity securities and/or U.S. exchange-traded funds that provide exposure to U.S. exchange-listed equity securities.

The team seeks to establish long and short positions of U.S. exchange-listed equity securities and ETFs in its portfolio.

In selecting securities for the portfolio, the research team focuses on securities that they believe will either outperform (the long basket) or underperform (the short basket).

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The portfolio may include U.S. exchange-listed equity securities of non-U.S. issuers, including the securities of non-U.S. issuers traded on U.S. exchanges in the form of depositary receipts.

Additionally, the portfolio holds both long and short positions in equity securities and ETFs.

The fund may invest up to 20% of its net assets in U.S. exchange-listed equity index futures contracts.
 

The fund seeks primarily current income and secondarily capital appreciation by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in mortgage-related debt securities and other mortgage-related instruments (collectively Mortgage-Related Investments).

Mortgage-Related Investments consist of residential mortgage-backed securities, commercial mortgage-backed securities, stripped mortgage-backed securities, and collateralized mortgage obligations and real estate mortgage investment conduits.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in callable agency securities. 

Also, the fund may invest up to 40% of its net assets in cash, cash equivalents and short-term investments and non-mortgage direct obligations of the U.S. government and other non-mortgage securities issued and/or guaranteed by Government Entities.

The fund may also invest up to 5% of its net assets in asset-backed securities that are not issued and/or guaranteed by Government Entities.

The fund may invest, without limitation, in mortgage dollar rolls.

Additionally, the fund may invest up to 20% of its net assets in securities of any credit quality, including securities that are below investment grade.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to track the performance of U.S. securities exhibiting desirable factor exposure.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund is classified as non-diversified.
 

The fund seeks to provide positive returns by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team and a wholly-owned subsidiary of the fund organized under the laws of the Cayman Islands (the Subsidiary), invest significantly in a portfolio of exchange-listed futures.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will invest up to 25% of its total assets in the Subsidiary.

The fund and the Subsidiary may hold futures contracts on a wide range of assets, including, but not limited to, equity indexes, other financial indexes, currencies and global debt, including U.S. Treasuries.

In addition, the Subsidiary may hold futures contracts on commodities.

Also, the fund and the Subsidiary attempt to capture the economic benefit derived from rising and declining prices across global futures markets by buying or selling futures contracts which are estimated to rise or fall in price.

The fund may also invest directly in exchange-traded funds and other investment companies, including closed-end funds, that provide exposure to commodities.

The fund seeks primarily current income and secondarily capital appreciation in the long term by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in municipal debt securities that pay interest that is exempt from regular federal income taxes.

In selecting securities for the portfolio, the research team implements a total return scenario analysis, sector analysis, new issue credit analysis, trading, surveillance, and performance attribution.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The types of municipal securities in which the fund may invest include municipal lease obligations, municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds and pre-refunded and escrowed-to-maturity bonds.

Also, the fund may invest in municipal securities of any maturity.

The fund invests at least 65% of its net assets in investment grade securities, or, if unrated, to be of comparable quality.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the materials and processing sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in mid-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to select stocks from the NASDAQ US 600 Mid Cap Index (the Base Index) that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in mid-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to select growth stocks from the NASDAQ US 600 Mid Cap Index (the Base Index) that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in mid-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to select value stocks from the NASDAQ US 600 Mid Cap Index (the Base Index) that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to measure the performance of the 100 highest-yielding stocks that have a consistent record of dividend payment and have the ability to sustain their dividend payments.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to select value stocks from the NASDAQ US 500 Large Cap Index, NASDAQ US 600 Mid Cap Index and NASDAQ US 700 Small Cap Index (the Base Indices) that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and/or depositary receipts, real estate investment trusts, preferred securities, master limited partnerships and exchange-traded fund that comprise the Index.

The Index is designed to provide exposure to five asset segments, such as equity securities, REITs, preferred securities, MLPs and high yield corporate bonds.

Also, the Index provides exposure to the high yield corporate bond segment through an ETF that invests in high yield corporate debt securities.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies across any size in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to select growth stocks from the NASDAQ US 500 Large Cap Index, NASDAQ US 600 Mid Cap Index and NASDAQ US 700 Small Cap Index (the Base Indices) that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to provide current income by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of closed-end investment companies which invest primarily in municipal debt securities, some or all of which pay interest that is exempt from regular federal income taxes.

In selecting closed-end funds for the portfolio, the team focuses upon metrics, such as fund size duration, leverage ratio, average maturity, earnings rate, undistributed net investment income, distribution rate, premium or discount, net asset value and share price returns, sponsor and distribution policies.

The team invests in a range of municipal securities, including, municipal lease obligations, municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds, and pre-refunded and escrowed to maturity bonds.

Additionally, the fund may invest in closed-end funds that hold inverse floating rate securities issued by tender option bond trusts and securities issued by custodial receipt trusts.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in closed-end funds that hold municipal securities of any maturity, duration or credit quality, including high yield securities.

In addition, the fund may also invest in exchange-traded funds.

The fund seeks primarily income and secondarily capital appreciation in the long term by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in municipal debt securities that pay interest that is exempt from regular federal income taxes (collectively Municipal Securities).

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The types of Municipal Securities in which the fund may invest include municipal lease, municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds, and pre-refunded and escrowed to maturity bonds.

In addition, Municipal Securities include securities issued by custodial receipt trusts.

The fund may invest in Municipal Securities of any duration and any maturity.

However, the fund may not invest more than 50% of its net assets in Municipal Securities that are, at the time of investment, rated investment or, if unrated, to be of comparable quality.

Additionally, the fund may invest up to 10% of its net assets in Distressed Municipal Securities.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is the equal-weighted version of the Nasdaq-100 Index. The Nasdaq-100 Index includes 100 of the largest U.S. and international non-financial companies listed on Nasdaq based on market capitalization.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is an equal-weighted index composed of the securities comprising the Nasdaq-100 Index that are not classified as technology according to the Industry Classification Benchmark classification system.

The Nasdaq-100 Index includes 100 of the largest U.S. and international non-financial companies listed on Nasdaq based on market capitalization.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies across any size in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to track the performance of companies that comprise the community banking industry.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of companies engaged in the artificial intelligence (AI) and robotics segments of the technology, industrial and other economic sectors.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

Also, the fund may invest in securities issued by companies operating in emerging markets.

Additionally, the fund is classified as non-diversified.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the banking sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of small, mid and large capitalization clean energy companies that are publicly traded in the United States.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to act as a transparent and liquid benchmark for the grid and electric energy infrastructure sector.

The Index includes companies that are primarily engaged and involved in electric grid, electric meters and devices, networks, energy storage and management, and enabling software used by the smart grid infrastructure sector.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of companies engaged in the cybersecurity segment of the technology and industrials sectors.

It includes companies primarily involved in the building, implementation, and management of security protocols applied to private and public networks, computers, and mobile devices in order to provide protection of the integrity of data and network operations.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the food and beverage sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of the largest and most liquid companies engaged in the manufacturing of automobiles.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the oil and gas sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the pharmaceutical sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the retail sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the semiconductor sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index includes up to 100 technology and telecommunications companies that pay a regular or common dividend.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index is designed to provide exposure to U.S. companies comprising the transportation sector.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is an equal-weighted index composed of the securities comprising the Nasdaq-100 Index that are classified as technology according to the Industry Classification Benchmark (ICB) classification system.

The Nasdaq-100 Index includes 100 of the largest U.S. and international non-financial companies listed on Nasdaq based on market capitalization.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in mid-and large-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts and master limited partnership units that comprise the Index.

The Index is designed to track the performance of companies that derive a substantial portion of their revenues from midstream activities and/or the exploration and production of natural gas.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks total return by investing in companies in the United States.

The fund’s investment strategy emphasizes current distributions and dividends paid to shareholders.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in equity securities of companies engaged in the energy infrastructure sector.

These companies principally include U.S. and Canadian natural gas and electric utilities, corporations operating energy infrastructure assets such as pipelines or renewable energy production, utilities, publicly-traded master limited partnerships or limited liability companies taxed as partnerships, MLP affiliates.

Also, the team invests in companies that derive the majority of their revenues from operating or providing services in support of infrastructure assets such as pipelines, power transmission and petroleum and natural gas storage in the petroleum, natural gas and power generation industries.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

In addition, the fund will invest significantly in equity securities of companies headquartered or incorporated in the United States and Canada. 

The fund may also utilize derivative investments such as bond index and equity index futures to hedge against interest rate and market risks.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies across any size in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stock and depositary receipts that comprise the Index.

The Index is an equal-dollar weighted index designed to measure the performance of a cross section of companies in the biotechnology industry that are primarily involved in the use of biological processes to develop products or provide services.

Such processes include, but are not limited to, recombinant DNA technology, molecular biology, genetic engineering, monoclonal antibody based technology, lipid/liposome technology and genomics.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks total return by investing in companies outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in preferred securities and income-producing debt securities.

In selecting securities for the portfolio, the team combines a bottom-up and top-down approach that encompasses credit fundamentals; relative value; and technical aspects.

The bottom-up analysis focuses on individual security analysis, idiosyncratic risks, credit fundamentals and opportunistic trading.

The top-down analysis focuses on sector and industry analysis, duration and interest rate analysis, capital structure positioning and systemic risks.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may also invest in preferred securities issued by real estate investment trusts.

Income Securities held by the fund include corporate bonds, high yield securities, and convertible securities.

The fund may invest in U.S. and non-U.S. debt and equity securities that are traded over-the-counter or listed on an exchange.

Additionally, the fund may have exposure to certain emerging market countries through its investments in non-U.S. securities.

The fund may invest in exchange-traded and over-the-counter interest rate swaps, exchange-listed options on U.S. Treasury futures contracts, exchange-listed U.S. Treasury futures contracts, exchange-listed options on Eurodollar futures contracts, exchange-listed Eurodollar futures contracts, exchange-traded and over-the-counter non-U.S. currency swaps, exchange-listed currency options, forward currency contracts and non-deliverable forward currency contracts.

In addition, the fund may invest up to 15% of its net assets in cash and/or cash equivalents.

The fund may invest in securities issued by companies domiciled in the United States, U.S. dollar-denominated depositary receipts and U.S. dollar-denominated foreign securities.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in small-and mid-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the equity securities that comprise the Index.

The Index is designed to measure the performance of companies in the industrial and community banking sectors.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies across any size in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stock and depositary receipts that comprise the Index.

The Index is designed to provide access to a diversified portfolio of companies with a track record of raising their dividends while exhibiting the characteristics to continue to do so in the future.

Also, the Index includes companies with superior cash balances, low debt and increasing earnings.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks capital appreciation by investing in companies across any size outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of equity securities of developed market companies, including through investments in common stock, depositary receipts and common and preferred shares of real estate investment trusts.

In selecting securities for the portfolio, the team focuses on eligible countries and/or securities based on several core attributes, including value, quality and momentum.

Also, the team considers valuation multiples on the basis of book value and a company’s cash.

In addition, the team assigns each qualifying security a score based on its core attributes and selects the individual securities with the highest scores for investment.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund seeks capital appreciation by investing in companies across any size outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of equity securities of emerging market companies.

The securities in which the team may invest must be listed on a U.S. or non-U.S. securities exchange.

In selecting securities for the portfolio, the research team focuses on core attributes such as value, quality and momentum.

The team then assigns each qualifying security a score based on its core attributes and selects the individual securities with the highest scores for investment.

In addition, the team also considers the market capitalization of the companies in which the fund may invest, and the trading volume of a company’s shares in the secondary market.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund also may invest up to 20% of its net assets in equity securities of companies in developed market countries and forward foreign currency exchange contracts and currency spot transactions.

The fund seeks capital appreciation by investing in companies across any size outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of equity securities of European companies, including through investments in common stock, depositary receipts, and common and preferred shares of real estate investment trusts.

In selecting securities for the portfolio, the team focuses on eligible countries and/or securities based on several core attributes, including value, quality and momentum.

Also, the team considers valuation multiples on the basis of book value and a company’s cash.

In addition, the team assigns each qualifying security a score based on its core attributes and selects the individual securities with the highest scores for investment.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund generally focuses its European company investments in Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and/or the United Kingdom.

Additionally, the fund may invest up to 20% of its net assets in equity securities of non-European companies, including companies in emerging market countries, with a particular focus on companies in Canada, Israel and the United States, and forward foreign currency exchange contracts and currency spot transactions.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the equity securities that comprise the Index.

The Index measures the performance of high dividend yielding companies that have followed a managed-dividends policy of increasing or maintaining dividends for at least ten consecutive years.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the real estate investment trusts that comprise the Index.

The Index seeks to measure the performance of publicly-traded REITs domiciled in the United States.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks primarily high current income and secondarily preservation of capital by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in first lien senior floating rate bank loans (Senior Loans).

The team invests primarily in Senior Loans that are below investment grade quality at the time of investment.

In addition, the team relies on fundamental credit analysis to select investment opportunities that provide attractive relative value.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund invests in Senior Loans made predominantly to businesses operating in North America, but may also invest in Senior Loans made to businesses operating outside of North America.

Also, the fund may invest significantly in covenant-lite loans.

The fund may also invest up to 20% of its net assets in non-Senior Loan debt securities, which may be fixed-rate or floating-rate income-producing securities, warrants, U.S. and non-U.S. equity and equity-like positions and interests and securities of other investment companies.

In addition, the fund may invest up to 15% of its net assets in Senior Loans and/or other floating rate loans that are distressed or in default.

The fund seeks income consistent with capital preservation by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in municipal debt securities that pay interest that is exempt from regular federal income taxes (collectively Municipal Securities).

The team may invest  in Municipal Securities which include municipal lease obligations, municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, alternative minimum tax bonds, private activity bonds, securities issued by custodial receipt trusts and pre-refunded and escrowed to maturity bonds.

In selecting securities for the portfolio, the research team focuses on Municipal Securities that meet basic infrastructure needs or provide critical services within their communities.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will invest in Municipal Securities issued throughout the United States, including in Municipal Securities issued by entities in at least 10 different states, with an emphasis on states with growing populations and healthy employment trends.

Also, the fund will primarily invest in Municipal Securities that are, at the time of investment, rated as investment grade or, if unrated, to be of comparable quality.

The fund may invest up to 35% of its net assets in Municipal Securities rated below investment grade.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the NASDAQ US 700 Small Cap Index that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select growth stocks from the NASDAQ US 700 Small Cap Index that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select value stocks from the NASDAQ US 700 Small Cap Index that may generate positive alpha, or risk-adjusted returns, through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in small-and mid-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to provide access to a diversified portfolio of 100 companies with a track record of raising their dividends and that exhibit the characteristics to continue to do so in the future.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks total return by investing in companies in the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of U.S. and non-U.S. convertible securities.

In selecting securities for the portfolio, the team utilizes both quantitative and fundamental analysis.

The team then screens the investable universe for Convertible Securities that present the most attractive reward per unit of risk.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in Convertible Securities of any credit quality, including securities that are rated below investment grade or unrated, and with effective or final maturities of any length.

In addition to investing in Convertible Securities, the fund also may invest in the following securities and instruments.

The fund may invest up to 20% of its net assets in exchange-traded notes.

The fund may invest up to 20% of its net assets in equity securities listed on U.S. or non-U.S. securities exchanges, including, but not limited to, American Depositary Receipts, Global Depositary Receipts, equity securities issued by business development companies, and equity securities held upon conversion of Convertible Securities into their corresponding underlying securities.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The index is a dividend weighted index of 30 stocks selected from the STOXX Europe 600 Index which includes high-dividend yielding companies across 18 European countries.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks primarily risk-adjusted income and secondarily capital appreciation by investing in companies in the United States.

The fund manages assets with the help of four sub-advisers namely Energy Income Partners, LLC, First Trust Global Portfolios Limited, Richard Bernstein Advisors LLC, and Stonebridge Advisors LLC.

The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.

The sub-advisers’ investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The sub-advisers may utilize a related option overlay strategy and/or derivative instruments in implementing their respective investment strategies for the fund.

Next, the research team invests significantly in high yield corporate bonds, and first lien senior secured floating rate bank loans; mortgage-related investments; preferred securities; international sovereign bonds, equity securities of Energy Infrastructure Companies; and dividend paying U.S. exchange-traded equity securities of companies  and depositary receipts.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

In general, the fixed income securities in which the fund invests may be issued by U.S. and non-U.S. issuers, of any capitalization range or credit quality, including high yield securities.

The fund may invest in the equity securities, including preferred securities, of non-U.S. issuers, either directly or through investments that are in the form of depositary receipts.

Also, the fund may invest in exchange-listed futures contracts, exchange-listed options, exchange-listed options on futures contracts, exchange-listed stock index options and forward contracts.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in Switzerland.

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks primarily current income and secondarily capital appreciation by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in high yield debt securities that are rated below investment grade or unrated securities to be of comparable quality.

As part of its investment strategy, the team maintains both long and short positions in securities.

The team takes long positions in securities that in the aggregate to have the potential to outperform the Index, and takes short positions in securities that will decline or in the aggregate will underperform the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest up to 10% of its net assets in non-U.S. securities denominated in non-U.S. currencies.

Also, the fund may invest in non-income producing securities including Distressed Securities and common stocks.

However, the fund invests no more than 15% of its net assets in Distressed Securities.

The fund may invest up to 40% of its net assets in bank loans; however the fund will invest no more than 15% of its net assets in loans other than first lien senior secured floating rate bank loans.

The fund seeks to maximize total return in the long term by investing in companies outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in fixed income securities.

In selecting securities for the portfolio, the research team focuses on companies that are trading at a discount to their estimated intrinsic value.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in mortgage-backed securities issued or guaranteed by the U.S. government, its agencies or instrumentalities, and U.S. government-sponsored entities.

The fund may also invest in preferred stock and common stock.

Additionally, the fund may invest up to 25% of its net assets in derivatives instruments that are traded over-the-counter to reduce currency, interest rate or credit risk.

The fund may invest up to 35% of its net assets in corporate, non-U.S. and non-agency debt and other securities rated below investment grade, or, if unrated, to be of comparable quality.

The fund may also invest in distressed securities.

In addition, the fund may also invest up to 20% of its net assets in securities denominated in non-U.S. currencies and securities of issuers with significant ties to emerging market countries.

The fund seeks to maximize total return in the long term by investing in companies outside the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in a portfolio of fixed income securities.

The team manages the portfolio in an unconstrained manner, meaning that it has discretion to invest in fixed income securities of any type or credit quality.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest a significant portion of its assets in securitized investment products, including up to 50% of its net assets in each of asset-backed securities, residential mortgage-backed securities and commercial mortgage-backed securities.

Also, the fund may invest up to 70% of its net assets in securities rated below investment grade, or, if unrated, to be of comparable quality.

The fund may also invest in distressed securities.

In addition, the fund may also invest up to 60% of its net assets in securities of issuers with significant ties to emerging markets.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the technology sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies across any size in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks that comprise the Index.

The Index is designed to quantitatively identify and select U.S. exchange-listed securities issued by companies that exhibit growth and value factors and appear to have the greatest potential for capital appreciation.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks, depositary receipts, real estate investment trusts and preferred shares that comprise the Index.

The Index is composed of securities issued by small, mid and large cap companies operating in the United Kingdom (i.e., England, Northern Ireland, Scotland and Wales).

Additionally, the team employs an indexing investment approach to replicate the performance of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.
 

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to track the performance of the Index.

The Index seeks to measure the performance of the equity securities of the 100 largest and typically most liquid initial public offerings (including spin-offs and equity carve-outs) of U.S. companies.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to select stocks from the Russell 1000 Index in the utilities sector that may generate positive alpha through the use of the AlphaDEX selection methodology.

Next, the research team invests significantly in the common stocks that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The Index is designed to measure the performance of the securities ranked first and second that are also still estimated to provide above-average dividend yield.

Next, the research team invests significantly in the common stocks and depository receipts that comprise the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and depositary receipts that comprise the Index.

The Index is designed to track the performance of small, mid and large capitalization companies that derive a substantial portion of their revenues from the potable water and wastewater industry.

Such industry exposure includes water distribution, infrastructure (pumps, pipes, and valves), water solutions (purification and filtration), and ancillary services such as consulting, construction and metering.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in large-and mega-size companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and real estate investment trusts that comprise the Index.

The Index is designed to select dividend-paying securities issued by large capitalization U.S. companies.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in mid-size companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and real estate investment trusts that comprise the Index.

The Index is designed to select dividend-paying securities issued by mid capitalization U.S. companies.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and real estate investment trusts that comprise the Index.

The Index is designed to select dividend-paying securities issued by small capitalization U.S. companies.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies in the United States.

The fund employs an indexing investment approach that is designed to replicate the performance of the Index.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests significantly in the common stocks and real estate investment trusts that comprise the Index.

The Index is designed to select dividend-paying securities issued by U.S. companies to create a diversified portfolio offering an above-average yield.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund will be concentrated in an industry or a group of industries to the extent that the Index is so concentrated.