The Fund is an actively managed exchange-traded fund (ETF) that may engage in active trading. The Fund will use a fund of funds approach, and seeks to achieve its investment objective by investing in the shares of market sector, sub-sector, and style exchange-traded funds (each an Underlying Sector ETF, Underlying Sub- Sector ETF, and Underlying Style ETF, respectively, and, collectively, the Underlying Sector, Sub Sector, and Style ETFs or Underlying ETFs). Each Underlying Sector, Sub-Sector and Style ETF is an index fund that invests in the equity securities of companies in a particular U.S market sector, sub-sector, or market style (e.g., size specific (large cap, mid cap, or small cap), investment style specific (growth or value), or fixed income), respectively. The objective of each Underlying Sector, Sub-Sector, or Style ETF is to track its respective underlying sector, sub-sector or style index by replicating the securities in the underlying sector, sub-sector, or style index.