The investment seeks to provide positive returns across multiple market cycles that are generally not correlated to the U.S. equity or fixed income markets. The fund is an actively-managed exchange-traded fund (ETF) and seeks to achieve its objective principally by investing long or short in instruments linked directly or indirectly to the performance and/or volatility of the S&P 500® Index based on models and analyses, that seek to estimate the direction of the U.S. equity market. It is non-diversified.