Under normal circumstances, the SEI Select International Equity ETF (the Fund) will invest at least 80 percent of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. Equity securities may include common stocks, participation notes and depositary receipts. The Fund will invest primarily in equity securities of issuers of all capitalization ranges that are located in at least three countries other than the U.S. It is expected that at least 40 percent of the Fund's assets will be invested outside the U.S. The Fund will invest primarily in companies located in developed countries, but may also invest in companies located in emerging markets.