The Fund is an actively managed exchange traded fund (ETF) that normally invests at least 80 percentage of its net assets, including any borrowings for investment purposes, in a diversified portfolio of ETFs (Underlying Funds) that each invest at least 80 percentage of their assets in US equity securities. The Fund is not managed relative to an index and has broad flexibility to allocate its assets across different types of securities and sectors of the US equity markets. The Fund defines equity securities to include ETFs that invest primarily in equity securities, such as common and preferred stocks. The Fund will invest primarily in large capitalization issuers, although its assets may be invested in securities of any market capitalization.