The Fund generally will invest at least 90 percent of its total assets in securities that comprise the Underlying Index. The Underlying Index is a market capitalization weighted index designed to track the performance of exchange-listed, fixed rate US dollar denominated preferred securities, and securities that the Index Provider believes are functionally equivalent to preferred securities, issued in the US domestic market by financial companies. The Index Provider considers financial companies to be banking, brokerage, finance, investment and insurance companies. The Fund does not purchase all of the securities in the Underlying Index; instead, the Fund utilizes a sampling methodology to seek to achieve its investment objective. The Fund is non-diversified and therefore is not required to meet certain diversification requirements under the Investment Company Act of 1940, as amended.