The Fund is an actively-managed exchange-traded fund (ETF) that principally invests in common stocks of U.S. companies, real estate investment trusts (REITs), master limited partnerships (MLPs), American Depositary Receipts (ADRs), shares of other investment companies, including ETFs, exchange-traded products (ETPs) and closed-end funds, and shares of business development companies (BDCs). The Fund seeks to achieve its objective by investing principally in a portfolio of approximately 20–50 such assets with a focus on buying and holding the assets for as long as their technical characteristics warrant while seeking to limit losses in periods of market decline by allocating additional Fund assets to defensive alternatives, such as treasury ETFs, gold ETPs or cash. Catalysts for a more defensive posture would include a deterioration to the technical attributes for the market as a whole, including such inputs as downside moving average crosses, changes to trend following and momentum tools, an expansion in individual securities trading to new lows (each as described below), and the emergence of a relative outperformance from traditionally defensive assets like treasuries or gold.