The Fund, under normal circumstances, invests at least 80% of its assets in the securities that comprise the Index. The Index measures the performance of the securities of 50 U.S. companies that pursue innovative technologies that have the potential to disrupt existing technologies and/or industries (i.e., moonshot innovators). S&P Dow Jones Indices LLC (the Index Provider) begins by including all companies that are included in at least one S&P Kensho New Economy index and have minimum float adjusted market capitalization of $100 million and three month average daily trading volume of $1 million. The Index Provider then selects 50 companies that it determines have the highest early-stage composite innovation scores. The Index Provider determines the early stage composite innovation score based on a companys innovation sentiment score and an allocation to innovation score. As of August 19, 2020, the Index was comprised of 50 constituents, which had a median total market capitalization of $1.7 billion, total market capitalizations ranging from $204 million to $24.2 billion and were concentrated in the information technology, industrials, and healthcare sectors. The Fund will concentrate its investment in a particular industry or group of industries (i.e., hold 25% or more of its total assets in the stocks of a particular industry or group of industries) to approximately the same extent as the Index is so concentrated. The Fund uses a passive or indexing approach to attempt to achieve its investment objective. The Fund does not try to outperform the Index and does not generally take temporary defensive positions. Although the Fund intends to fully replicate the Index, at times the Fund may hold a representative sample of the securities in the Index that have aggregate characteristics similar to those of the Index. Fund will rebalance its portfolio when the Index rebalances. Additionally, if the Fund receives a creation unit in cash, the Fund repositions its portfolio in response to assets flowing into or out of the Fund. The Fund is non-diversified, meaning that a relatively high percentage of its assets may be invested in a limited number of issuers of securities.