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.

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

The Underlying Index is composed of at least 30 securities of companies in the utilities  sector that have powerful relative strength or momentum 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 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 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 equally weights stocks in the utilities and telecommunication services sectors of the S&P 500 Index.

The utilities sector includes utility companies such as electric, gas and water utilities, independent power producers and energy traders and companies that engage in generation and distribution of electricity using renewable sources.

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 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 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 designed to measure the performance of securities of small-capitalization U.S. companies in the utilities and communication services sectors.

The utilities companies are principally engaged in providing either energy, water, electric or natural gas utilities. These may include companies that generate and supply electricity, distribute natural gas and provide water, as well as deal with associated waste water.

The communication services sector includes companies that facilitate communication or offer related content and information through various types of media, such as diversified telecommunications services, wireless telecommunication services, media; entertainment; and interactive media and services.

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 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 non-diversified.

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 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 Underlying Index measures the performance of the utilities sector of the U.S. equity market.

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

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

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 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 securities that compose the fund’s Index.

The Index is designed to comprise securities in the utilities sector within the U.S. Universe.

The utilities sector is composed of companies involved in areas such as the provision of gas, electric and water power, energy trading or the provision of related infrastructure or service.

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 concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry or group of industries.

Also, the fund, utilizes an indexing investment approach, that attempts to approximate the investment performance of the Index by investing in a portfolio of securities that generally replicates the Index.

Additionally, the fund is non-diversified, which means that it may invest in a smaller number of issuers than a diversified fund and may invest more of its assets in the securities of a single issuer.
 

The fund seeks total return 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 significantly in equity securities of companies in the Utility Sector.

The team considers a company to be a Utility Sector Company if at least 50% of the company’s assets or customers are committed to, or at least 50% of the company’s revenues, gross income or profits derive from, the provision of products, services or equipment for the generation or distribution of electricity, gas or water.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team focuses on companies that exhibit the potential for growth of income and capital appreciation over time.

In addition, the research team favors companies with conservative capital structures, solid balance sheets, a track record of growing earnings and raising dividends.

Other factors in consideration are positive catalysts that may unlock value, and/or lower-than-market levels of volatility, correlation or similar characteristics.

The team also considers a company’s earnings and cash flow potential, dividend prospects and tax treatment of dividends, strength of business franchises and estimates of net asset value.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in any one issuer than a diversified fund can.

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 includes companies that have been identified as Utilities companies, and includes securities of companies from industries, such as electric utilities; water utilities; multi-utilities; independent power and renewable electricity producers; and gas utilities.

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.

In addition, the fund may invest in cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds.

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 process employs an indexing investment approach to track the performance of the MSCI US Investable Market Index (IMI)/Utilities 25/50 Index.

Next, the research team focuses on companies that are engaged in the in the utilities sector, which includes companies that distribute electricity, water, or gas, or that operate as independent power producers.

The team follows the GICS utilities sector classification which includes independent power producers and energy traders and companies that engage in generation and distribution of electricity using renewable sources.

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.