The Fund seeks to track the investment results of the Russell Midcap Value Index (the Underlying Index), which measures the performance of the mid-capitalization value sector of the U.S. equity market, as defined by FTSE Russell (the Index Provider or Russell). The Underlying Index is a subset of the Russell Midcap Index, which measures the performance of the mid-capitalization sector of the U.S. equity market, as defined by Russell. As of March 31, 2024, the Underlying Index represented approximately 71 percent of the total market value of the Russell Midcap Index. The Underlying Index measures the performance of equity securities of Russell Midcap Index issuers with relatively lower price-to-book ratios, lower sales-per-share historical growth and lower forecasted growth relative to all securities included in the Russell Midcap Index. As of March 31, 2024, a significant portion of the Underlying Index is represented by securities of companies in the financials and industrials industries or sectors.