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 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 securities that comprise the Underlying Index.

The Underlying Index is composed of constituents of the S&P MidCap 400 Index that have the highest momentum score.

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 composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

Additionally, the fund will concentrate its investments (i.e., invest 25% or more of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries.

The fund is diversified.

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.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in securities of the Underlying Index and in depositary receipts representing securities of the Underlying Index.

The Underlying Index consists of securities that exhibit above-average growth characteristics.

The team utilizes a representative sampling indexing strategy to evaluate companies based on market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield and liquidity characteristics.

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 or may not hold all of the securities in the Underlying Index.

Additionally, the fund may lend securities representing up to one-third of the value of the fund’s net assets.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest in certain futures, options and swap contracts, cash and cash equivalents.

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.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index.

The Underlying Index consists of securities that exhibit growth characteristics.

The team utilizes a representative sampling indexing strategy to evaluate companies based on market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield and liquidity characteristics.

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 or may not hold all of the securities in the Underlying Index.

Additionally, the fund may lend securities representing up to one-third of the value of the fund’s net assets.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest in certain futures, options and swap contracts, cash and cash equivalents.
 

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.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the component securities of its Underlying Index and in investments that have economic characteristics that are substantially identical to the component securities of its Underlying Index.

The Underlying Index consists of securities from a broad range of industries that exhibit growth characteristics.

The team utilizes a representative sampling indexing strategy to evaluate companies based on market capitalization and industry weightings.

In addition, the team also assesses a company’s return variability and yield and liquidity characteristics.

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 or may not hold all of the securities in the Underlying Index.

Additionally, the fund may lend securities representing up to one-third of the value of the fund’s net assets.

The fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Underlying Index is concentrated.

Also, the fund may invest in certain futures, options and swap contracts, cash and cash equivalents.

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 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 securities that comprise the Underlying Index.

The Underlying Index is designed to select small- and medium-sized capitalization stocks that are poised for smart growth by evaluating each company’s performance in three critical areas, such as growth, profitability, and capital efficiency.

Growth measures include revenue growth rate; profitability measures include operating profit and earnings per-share; and capital efficiency measures include return on invested capital.

The team then employs a proprietary quantitative methodology to score such stocks, and the top 10% of such eligible stocks scoring the highest become eligible to be included in the portfolio.

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 composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

The fund may also invest in investments that are not included in the Underlying Index, such as stocks, shares of other investment companies, cash and cash equivalents, including affiliated or non-affiliated money market funds.

To the extent the Underlying Index concentrates in the securities of a particular industry or group of industries, the fund will concentrate its investments to approximately the same extent as the Underlying Index.

The fund may lend portfolio securities on a short-term or long-term basis, in an amount equal to up to one-third of its net assets.

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 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.

As part of its strategy, the fund employs a passive management or indexing approach.

Next, the research team invests significantly in component securities of the Index.

The Index is comprised of equity securities of companies that exhibit growth characteristics and that meet certain environmental, social, and governance criteria.

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 composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

To the extent the Index concentrates in the securities of companies in a particular industry or group of industries, the fund will concentrate its investments to approximately the same extent as the Index.

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 securities comprising the Index.

The Index measures the performance of the mid-capitalization growth segment of the U.S. equity market.

Additionally, the research team employs a sampling strategy to invest in a representative sample of securities with generally the same risk and return characteristics 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.

Also, the fund’s net assets will generally be concentrated in an industry or group of industries to the extent that the Index concentrates in a particular industry or group of industries.

In addition, the fund may invest in equity securities that are not included in the Index, cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds.

The fund is classified as diversified.