The investment seeks to replicate as closely as possible, before fees and expenses, the performance of the S&P SmallCap 600 Pure Value Index Total Return. The fund normally will invest at least 90% of its net assets, plus any borrowings for investment purposes, in the equity securities (and derivatives thereof) included in the underlying index. It may hold up to 10% of its assets in securities not included in the underlying index. The fund may invest its other assets in futures contracts, options on futures contracts, options, and swaps related to the underlying index, as well as cash and cash equivalents. It is non-diversified.
