The Fund is an actively-managed exchange-traded fund of funds and seeks to achieve its objective by investing primarily in other registered investment companies, including other actively-managed exchange-traded funds (ETFs) and index-based ETFs (collectively, Underlying Funds), that provide exposure to a broad range of asset classes. The Fund will not invest more than 25% in any Underlying Fund. The Underlying Funds may invest in equity securities of U.S. or foreign companies; debt obligations of U.S. or foreign companies or governments; or investments such as volatility indexes and managed futures. The Fund allocates its assets across asset classes, geographic regions, and industries, subject to certain diversification and liquidity considerations. The Funds investments in foreign countries may include exposure to emerging markets. The Fund generally defines emerging market countries as countries that are not included in the MSCI World Index of major world economies.