The investment seeks to provide total return while managing the fund's annualized volatility by investing primarily in equity and fixed-income securities.
The fund pursues its investment objective by investing in both equity and fixed-income securities that have total return potential, and overlaying a managed volatility strategy. Regarding the composition of the fund's portfolio, under normal conditions, it is anticipated that approximately 40% of the fund's assets will be invested directly into equity securities and 60% of the fund's assets will be invested in fixed-income securities and other investments.
The investment seeks to preserve and grow capital from investments in the U.S. and foreign equity, fixed income, commodity and currency markets, independent of market direction.
The fund is considered a "fund of funds" that seeks to achieve its investment objective by primarily investing in other affiliated and unaffiliated exchange-traded funds ("ETFs") that offer diversified exposure, including inverse exposure, to global regions, countries, styles (market capitalization, value, growth, etc.) or sectors, and other exchange-traded products including, but not limited to, exchange-traded notes ("ETNs"), exchange-traded currency trusts, and closed-end funds.