The investment seeks long-term capital appreciation, while maintaining a secondary emphasis on capital preservation.
The fund invests primarily in, and allocates its investments primarily between, fund investments that are intended to be generally representative of the performance of international developed and emerging markets and market sectors, and Cash Positions. Under normal market conditions, at least 40% of its net assets will be invested in the securities of non-U.S. issuers, and the fund will typically have exposure to not less than three different countries other than the U.S.
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.