As an actively managed exchange-traded fund, the Fund will not seek to replicate the performance of an index. The Advisor seeks to achieve the Funds investment objective of capital appreciation by investing in exchange-traded funds that are registered under the Investment Company Act of 1940, as amended the 1940 Act and not affiliated with the Fund. In addition to its indirect investments, the Fund may also invest directly in put and call options on index ETFs, sector ETFs, individual equities, and cash and cash equivalents as part of its risk management strategy.