DEVELOPED INTERNATIONAL EQUITY SELECT ETF

The investment seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of an equity index called the Nasdaq Riskalyze Developed Index (the index). The fund will normally invest at least 90% of its net assets (including investment borrowings) in the common stocks, depositary receipts, preferred shares and real estate investment trusts (REITs) that comprise the index. The index is designed to select low volatility securities issued by companies operating in developed market countries (excluding the United States).