The investment seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the ARK Israeli Innovation Index (index). The fund normally invests at least 80% of its total assets in securities that are included in the fund's benchmark index, depositary receipts representing securities included in the index or underlying stocks in respect of depositary receipts included in the index. The index includes equity securities and depositary receipts of exchange listed companies that are incorporated and/or domiciled in Israel (Israeli Companies). The fund is non-diversified.