p id="xdx_A8F_err--StrategyNarrativeTextBlock_gRBSNTB-HVBI_zpLY6xNjujhg" style="font: 9pt/11.5pt Arial, sans-serif; margin: 0pt 0pt 9pt; -sec-ix-redline: true; text-transform: none; color: #000000; text-indent: 0pt; text-align: justify"span style="text-transform: none"The Fund employs a “passive management” — or indexing — investment approach designed to track the performance/spanspan style="text-transform: none" of the Underlying Index. The Advisor is the index provider for the Underlying Index. The Underlying Index seeks to provide exposure to /spanspan style="text-transform: none"innovative/spanspan style="text-transform: none" companies by investing in the equities of US large cap companies that have high research and development (“Ramp;D”) spending. The Underlying Index/spanspan style="text-transform: none" includes securities of large-capitalization companies that trade in the U.S. As of June 30, 2024, the market capitalization range of the Underlying Index was approximately $477.28 million to $3.32 trillion./spanspan style="text-transform: none" As of June 30, 2024, the primary sectors within the Underlying/spanspan style="text-transform: none" Index were information technology, health care, and communication services. The Fund invests, under normal circumstances, at least 80% of its net assets, plus the/spanspan style="text-transform: none" amount of any borrowings for investment purposes, in the investments included in its /spanspan style="text-transform: none"Underlying Index./span/p p style="font: 9pt/11.5pt Arial, sans-serif; margin: 0pt 0pt 9pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: justify"span style="text-transform: none"The securities/spanspan style="text-transform: none" eligible for inclusion in the Underlying Index are those securities/spanspan style="text-transform: none" included in the Russell 1000/spansup style="text-transform: none; font-size: 7pt; line-height: 7pt"®/supspan style="text-transform: none" Index. The Underlying Index consists of the 100 eligible component securities with the highest dollar amount of research and development spending /spanspan style="text-transform: none"during the previous year. Research and development spending includes expenditures on research and development intended for the development of concepts or ideas for new products or services by which the issuer can /spanspan style="text-transform: none"increase revenues./span/p p style="font: 9pt/11.5pt Arial, sans-serif; margin: 0pt 0pt 9pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: justify"span style="text-transform: none"Securities selected for inclusion in the Underlying Index are weighted based on the issuer’s total Ramp;D spending relative to /spanspan style="text-transform: none"the other securities selected for inclusion in the Underlying Index, /spanspan style="text-transform: none"subject to a maximum weight at the time of rebalance of the greater of (i) 5%, or (ii) the weight of a component’s issuer in the Russell1000/spansup style="text-transform: none; font-size: 7pt; line-height: 7pt"®/supspan style="text-transform: none" Growth Index plus 2% (“Component Weight Cap”). To the extent a component would exceed the Component Weight Cap at the time of rebalance, the excess percentage is allocated proportionately among the other components of the Underlying Index. The Underlying Index is reconstituted and /spanspan style="text-transform: none"rebalanced quarterly./span/p p style="font: 9pt/11.5pt Arial, sans-serif; margin: 0pt 0pt 9pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: justify"span style="text-transform: none"Additionally, at the time of rebalance, the Underlying Index limits the maximum weight of all securities within each sector to the greater of (i) 30% of the Underlying Index, or (ii) the weight of the sector in the Russell 1000 Growth Index plus 5% (“Sector Weight Cap”). To the extent the securities within a sector would exceed the Sector Weight Cap at the time of rebalance, the excess percentage is allocated proportionately among securities within the other sectors of the /spanspan style="text-transform: none"Underlying Index./span/p p style="font: 9pt/11.5pt Arial, sans-serif; margin: 0pt 0pt 9pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: justify"span style="text-transform: none"The Fund generally will invest in all of the securities that comprise its Underlying Index in proportion to their weightings in the Underlying Index. The Fund has adopted a policy to invest, under normal circumstances, at least 80% of the value of its assets (net assets plus the amount of any borrowings for investment purposes) in securities of U.S. /spanspan style="text-transform: none"large-capitalization issuers./span/p p style="font: 9pt/11.5pt Arial, sans-serif; margin: 0pt 0pt 9pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: justify"span style="text-transform: none"The Underlying Index may include as a component one or more ETFs advised by the Advisor (“Affiliated ETFs”) and the Fund will typically invest in /spanspan style="text-transform: none"any Affiliated ETF included in the Underlying Index. The Fund /spanspan style="text-transform: none"also may invest in Affiliated ETFs that are not components of the index if such an investment will help the Fund track the /spanspan style="text-transform: none"Underlying Index./span/p