The fund is an actively managed fund that primarily invests in small- and mid-cap US financial services companies. The portfolio manager selects companies he believes will represent an attractive investment opportunity, relative to other such companies. Inhouse expertise and a specialized analysis are used, reviewing a companys individual attributes such as valuation and growth prospects, as well as its macro environment, including, but not limited to, GDP growth, inflation and interest rate trends, fiscal and monetary policies, and regulatory and sector trends. HUM typically holds 40 to 70 issuers, and may hedge up to 100% of the ETFs non-Canadian dollar currency exposure.