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.

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

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 opportunitie More

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.

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

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 of the Underlying Index and in American Depositary Receipts and Global Depositary Receipts based on the securities in the Underlying Index.

The Underlying Index is designed to measure broad based equity market performance of global companies involved in the uranium 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 seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

However, the fund may utilize a representative sampling strategy when there are practical difficulties or substantial costs involved in compiling a portfolio of equity securities to replicate the Underlying Index.

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

In addition, the fund also invests significantly in securities of companies that are active in some aspect of the uranium industry such as mining, refining, exploration, manufacturing of equipment for the uranium industry, technologies related to the uranium industry or the production of nuclear components.

The fund may also invest in companies that do not derive a significant percentage of revenues from activities related to the uranium industry, but generate large absolute revenues from the uranium industry.

Also, the fund may lend securities representing up to one-third of the value of its net assets.