The Fund employs a passive management investment approach designed to track the total return performance, before fees and expenses, of the Newfound/ReSolve Robust Equity Momentum Index. The Index is based on a proprietary methodology co-developed and co-owned by Newfound Research LLC and ReSolve Asset Management Inc. the Index Providers. The Index is calculated and maintained by Solactive AG. The Fund will invest at least 80 Percent of its assets in the component securities of the Index. The Index uses a quantitative, rules-based methodology to provide exposure to broad U.S. equity, international equity, and emerging market equity indices, to the extent that such equity indices are exhibiting positive momentum relative to U.S. Treasury market indices. The Index generally consists of exchange-traded funds ETFs that track regional equity indices, representative of U.S. equities, developed international equities and emerging market equities Regional Equity ETFs, as well as ETFs that track U.S. Treasury market indices, representative of short-term i.e., 1-2-year maturity U.S. Treasury notes and intermediate-term i.e., 7-to-10-year maturity U.S. Treasury bonds U.S. Treasury ETFs. The Regional Equity ETFs that may be included in the Index invest in the equity securities, including common stock and American Depository Receipts ADRs, of companies of any market capitalization that are traded on foreign or U.S. exchanges. The Index typically includes between one and five ETFs. Because the Index is comprised of securities issued by other investment companies, the Fund operates as a fund of funds.