The investment seeks to maximize after-tax returns, but with a lower level of volatility than the broad U.S. equity markets. The fund will typically invest in securities of U.S. companies of all capitalization ranges. These securities may include common stocks, preferred stocks, warrants and ETFs. It may also, to a lesser extent, invest in American Depositary Receipts (ADRs), real estate investment trusts (REITs), and securities of non-U.S. companies.