The Fund will normally invest at least 80% of its total assets in the securities that comprise the Index. In addition, the Fund will normally invest at least 80% of its total assets in the securities of online lending and/or digital banking companies. The Fund employs a “passive management” investment strategy in seeking to achieve its investment objective. Using an indexing investment approach, the Fund attempts to replicate, before fees and expenses, the performance of the Index. The Fund’s investment sub-adviser, Penserra Capital Management, LLC, (the “Sub-Adviser”) manages the investment of the Fund’s assets.

The Index is a rules-based stock index owned, developed and maintained by CrowdBureau Corporation (“CrowdBureau” or the “Index Provider”) designed to provide exposure to U.S.-listed equity securities of companies included within the peer-to-peer securities based crowdfunding and digital lending ecosystem. In seeking to provide broad exposure to this emerging portion of the economy, the Index is devised to provide exposure to not only those companies that operate online lending platforms that facilitate peer-to-peer lending, but also U.S. financial institutions with a digital lending platform, social networking platforms and providers of technology and software solutions.

The Index principally includes companies engaged in loan-based crowdfunding activities. The Index refers to “crowdfunding” as a financing method, typically internet-based, by which capital is raised through the solicitation of small individual investments or contributions from a large number of persons, entities or institutions that lend money directly or indirectly to businesses or consumers. In loan-based crowdfunding, more commonly referred to as “peer-to-peer lending,” investors generally purchase nonrecourse notes representing fractional interests in specific underlying loans. The Index additional also provides exposure to “digital banks,” which epitomize a virtual banking process by facilitating all functional levels of banking on all service delivery platforms, including all the same functions a head office, branch office, online service, bank cards, ATM and point of sale machines provide. Digital banks allow users to access financial data through desktop, mobile, and ATM services. As an end-to-end platform, digital banking encompasses the front-end for the consumers, the back-end for bankers through their servers and administration control panels, and the middleware that connects these nodes. The Index further provides exposure to social networking platforms that offer or plan to offer peer-to-peer lending or securities-based crowdfunding services and providers of the technology and software solutions that enable and facilitate the operation of these crowdfunding platforms.

Specifically, the Index includes those companies with business operations that fall into one of the following two segments:

Segment 1 Peer-to-Peer Marketplace Lenders and Digital Banking Platforms: Three categories – 85%

Segment 2 Providers of Technology and Software Solutions: One category – 15%

As of each reconstitution, the four categories represent the following percentages of the Index:

See “Additional Information About the Fund’s Strategies and Risks.”

The Index is composed of common stocks and depositary receipts issued by small, mid or large capitalization issuers operating in developed or emerging markets. Emerging market countries include, but are not limited to, those considered to be developing by the International Monetary Fund, the World Bank, the International Finance Corporation or one of the leading global investment banks. The security selection process relies on publicly available information and data to identify those companies with business operations that fall into one of the segments of the peer-to-peer securities based crowdfunding and digital lending ecosystem enumerated above. All companies included in the Index are listed and traded on a nationally recognized securities exchange located in the United States.

There is no limit as to the number of securities that can comprise the Index. As of January 1, 2021, the Index was comprised of 47 securities with a market capitalization range of approximately $6.9 million to $1.65 trillion. As of the date of this Prospectus, the Index also had significant exposure to U.S. and Chinese issuers. The Index is rebalanced and reconstituted on a quarterly basis.

Concentration Policy. The Fund will not concentrate its investments in securities of issuers in any industry or group of industries (i.e., holds 25% or more of its total assets) except to the extent the Index upon which the Fund is based concentrates in an industry or a group of industries.

The Fund is classified as “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”).