The fund seeks to track the price of the Australian dollar by investing in companies outside the United States.

The Australian dollar is the national currency of Australia and the currency of the accounts of the Reserve Bank of Australia, the Australian Central Bank.

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 issues Australian Dollar Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust.

The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares, and a block of 50,000 Shares is called a 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 Shares are intended to provide a simple, cost-effective means of gaining investment benefits similar to those of holding Australian Dollars.

The fund seeks to track the price of the British pound sterling by investing in companies outside the United States.

The British pound sterling is the official currency of the United Kingdom (England, Wales, Scotland and Northern Ireland).

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 issues British Pound Sterling Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust.

The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares, and a block of 50,000 Shares is called a 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 Shares are intended to provide a simple, cost-effective means of gaining investment benefits similar to those of holding British Pounds Sterling.

The fund seeks to track the price of the Canadian dollar by investing in companies outside the United States.

The Canadian dollar is the national currency of Canada and the currency of the accounts of the Bank of Canada, the Canadian Central Bank.

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 issues Canadian Dollar Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust.

The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares, and a block of 50,000 Shares is called a 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 Shares are intended to provide a simple, cost-effective means of gaining investment benefits similar to those of holding Canadian Dollars.

The fund seeks to track the price of the euro by investing in companies outside the United States.

The euro is the currency of 19 European Union countries.

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 issues Euro Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust.

The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares, and a block of 50,000 Shares is called a 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 Shares are intended to provide a simple, cost-effective means of gaining investment benefits similar to those of holding euro.

The fund seeks to track the price of the Japanese yen by investing in companies outside the United States.

The Japanese yen is the national currency of Japan and the currency of the accounts of the Bank of Japan, the Japanese central bank.

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 issues Japanese Yen Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust.

The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares, and a block of 50,000 Shares is called a 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 Shares are intended to provide a simple, cost-effective means of gaining investment benefits similar to those of holding Japanese Yen.

The fund seeks to track the price of the Swiss franc by investing in companies outside the United States.

The Swiss franc is the national currency of Switzerland and Liechtenstein and the currency of the accounts of the Swiss National Bank, the central bank of Switzerland.

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 issues Swiss Franc Shares (Shares) that represent units of fractional undivided beneficial interest in, and ownership of, the Trust.

The Shares may be purchased from the Trust only in one or more blocks of 50,000 Shares, and a block of 50,000 Shares is called a 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 Shares are intended to provide a simple, cost-effective means of gaining investment benefits similar to those of holding Swiss Francs.
 

The fund seeks to track changes, whether positive or negative, in the level of the Index, plus the income from the fund's holdings, before fees and expenses, by investing in companies outside the United States.

The Index is a rules-based index composed solely of short U.S. Dollar Index futures contracts that trade on the ICE Futures US exchange.

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 issues common units of beneficial interest (Shares), which represent units of fractional undivided beneficial interest in and ownership of the fund.

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 offers a cost effective and convenient way to track the value of the U.S. dollar relative to a basket of the six major world currencies - the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc (collectively, the Basket Currencies).

The fund seeks to track changes, whether positive or negative, in the level of the Index, plus the income from the fund's holdings, before fees and expenses, by investing in companies outside the United States.

The funds’ holdings consist of US Treasury securities, money market funds and T-Bill ETFs.

The Index is a rules-based index composed solely of long U.S. Dollar Index futures contracts that trade on the ICE Futures US exchange.

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 issues common units of beneficial interest (Shares), which represent units of fractional undivided beneficial interest in and ownership of the fund.

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 offers a cost effective and convenient way to track the value of the U.S. dollar relative to a basket of the six major world currencies - the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc (collectively, the Basket Currencies).

The fund seeks daily investment results, before fees and expenses, that correspond to the inverse (-1x) of the daily performance of the price of the euro versus the U.S. dollar, 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 Financial Instruments that include futures contracts, swap agreements, forward contracts, option contracts, and other instruments.

The team utilizes a mathematical approach to determine the type, quantity and mix of Financial Instruments the fund should hold to produce daily returns.

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 seeks to remain fully invested at all times in Financial Instruments and money market instruments that, in combination, provide exposure to its underlying benchmark.

The fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the price of the euro versus the U.S. dollar, 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 Financial Instruments that include futures contracts, swap agreements, forward contracts, option contracts, and other instruments.

The team utilizes a mathematical approach to determine the type, quantity and mix of Financial Instruments the fund should hold to produce daily returns.

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 seeks to remain fully invested at all times in Financial Instruments and money market instruments that, in combination, provide exposure to its underlying benchmark.

The fund seeks daily investment results, before fees and expenses, that correspond to two times (2x) the daily performance of the price of the Japanese yen versus the U.S. dollar, 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 Financial Instruments that include futures contracts, swap agreements, forward contracts, option contracts, and other instruments.

The team utilizes a mathematical approach to determine the type, quantity and mix of Financial Instruments the fund should hold to produce daily returns.

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 seeks to remain fully invested at all times in Financial Instruments and money market instruments that, in combination, provide exposure to its underlying benchmark.

The fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the price of the Australian dollar spot price versus the U.S. dollar, 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 Financial Instruments that include futures contracts, swap agreements, forward contracts, option contracts, and other instruments.

The team utilizes a mathematical approach to determine the type, quantity and mix of Financial Instruments the fund should hold to produce daily returns.

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 seeks to remain fully invested at all times in Financial Instruments and money market instruments that, in combination, provide exposure to its underlying benchmark.
 

The fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the price of the euro versus the U.S. dollar, 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 Financial Instruments that include futures contracts, swap agreements, forward contracts, option contracts, and other instruments.

The team utilizes a mathematical approach to determine the type, quantity and mix of Financial Instruments the fund should hold to produce daily returns.

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 seeks to remain fully invested at all times in Financial Instruments and money market instruments that, in combination, provide exposure to its underlying benchmark.

The fund seeks daily investment results, before fees and expenses, that correspond to two times the inverse (-2x) of the daily performance of the price of the Japanese yen versus the U.S. dollar, 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 Financial Instruments that include futures contracts, swap agreements, forward contracts, option contracts, and other instruments.

The team utilizes a mathematical approach to determine the type, quantity and mix of Financial Instruments the fund should hold to produce daily returns.

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 seeks to remain fully invested at all times in Financial Instruments and money market instruments that, in combination, provide exposure to its underlying benchmark.

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 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 money market securities and other liquid securities, such as short-term investment grade government and corporate debt securities, combined with currency forward contracts in the individual component currencies of the Index.

The Index tracks a long position in the U.S. dollar measured against a basket of developed and emerging market currencies which have the highest liquidity in the currency markets and represent countries that make the largest contribution to trade flows with the United States.

Also, the Index incorporates differences in money market rates between the U.S. and the countries (or regions) represented by the foreign currencies.

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 estimates its holdings to represent approximately ten (10) currencies at any given time, with the euro estimated to represent the largest exposure in the global basket of currencies.

However, at no time is the fund’s exposure estimated to exceed twenty (20) currencies (Index maximum.

The fund also may enter into repurchase agreements.

The fund seeks total return reflective of both money market rates in China and changes in value of the Chinese yuan relative to the U.S. dollar, 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 investments whose combined performance is economically tied to China.

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 prefers short-term securities and instruments designed to provide exposure to Chinese currency and money market rates.

The fund seeks total returns reflective of both money market rates in selected emerging market countries and changes to the value of these currencies relative to the U.S. dollar, 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 investments whose combined performance is tied economically to selected emerging market countries.

The team seeks to provide exposure to currencies and money market rates from emerging and developing economies in three regions of the world, namely Asia, Latin America and Europe, the Middle East and Africa.

Within these regions, the team seeks to invest in a subset of the following countries, such as Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Indonesia, Malaysia, Mexico, Nigeria, Peru, the Philippines, Poland, Romania, Russia, South Africa, South Korea, Taiwan, Thailand and Turkey.

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 prefers short-term securities and instruments designed to provide exposure to the currencies and money market rates of selected emerging market countries.

The fund also may enter into repurchase agreements.