The Fund generally will invest at least 80 percent of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, FTSE International Limited (FTSE or the Index Provider) compiles and maintains the Underlying Index, which is an index of foreign equity securities designed to reflect a dynamic combination of factor investing strategies that, in the view of the Index Provider, have historically outperformed other factors during various parts of the economic cycle. The Underlying Indexs universe of investable stocks is taken from the FTSE Developed ex US Index (the Parent Index), which comprises large-capitalization (85 percent) and mid-capitalization (15 percent) stocks of companies located in 24 developed market countries around the world, excluding the United States. The Parent Index is derived from the FTSE Global Equity Index Series (GEIS), which covers 98 percent of the worlds investable market capitalization.