The fund is an actively managed ETF that operates pursuant to an exemptive order from the Securities and Exchange Commission (Order) and does not publicly disclose its complete portfolio holdings each business day. Instead, the fund publishes each business day on its website a Tracking Basket, which is designed to closely track the daily performance of the fund but is not the funds actual portfolio. The Tracking Basket is comprised of (1) select recently disclosed portfolio holdings and/or select securities from the universe from which the funds investments are selected (Strategy Components) (2) liquid ETFs that convey information about the types of instruments (that are not otherwise fully represented by the Strategy Components) in which the fund invests (Representative ETFs) and (3) cash and cash equivalents