As an actively managed exchange-traded fund (ETF), the Fund will not seek to replicate the performance of an index. The Fund intends to achieve its investment objective by investing primarily in securitized asset instruments, which are also referred to as structured products. Structured products are pre-packaged investments that normally include assets linked to interest or one or more derivatives, which may use leverage. The universe of structured products in the market include, but are not limited to, asset-backed securities (ABS), including private and multi-class structures, pass-through certificates, other instruments secured by financial, physical, and/or intangible assets (i.e., receivables or pools of receivables), tranches of collateralized debt obligations(CDOs), collateralized mortgage obligations (CMOs), collateralized loan obligations (CLOs), agency and non-agency mortgage-backed securities (MBS), such as commercial mortgage-backed securities (CMBS), and residential mortgage-backed securities (RMBS). The Advisor selects securities for the Funds portfolio based primarily on the Advisor's assessment of opportunity, which the Advisor defines as a potential set of returns that is more attractive than other assets that have similar risk profiles. The Advisor seeks to select securities that have the most attractive opportunity propositions while taking into consideration the Fund's overall risk exposure, diversification within those risk categories, as well as the overall portfolio return.