The investment seeks to replicate as closely as possible, before fees and expenses, the total return performance of an equity index based upon the emerging markets of Brazil, Russia, India and China. The fund uses a passive management strategy designed to track the total return performance of the S&P BRIC 40 index. The BRIC 40 index is a market capitalization weighted index designed to provide exposure to 40 leading companies domiciled in the emerging markets of Brazil, Russia, India and China that are listed on the Hong Kong Stock Exchange, the London Stock Exchange, Nasdaq and/or the NYSE. It is nondiversified.
