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.