Fund Description

The fund uses a passive strategy seeking to track an index and concentrates in the water industry. It normally invests at least 80% of net assets in equity securities, primarily common stocks, of U.S. and non-U.S. companies whose main business is water-related or significantly involved in water-related services or technologies. It may hold securities of all market capitalizations and may include more small- and mid-cap stocks. It may invest in ADRs and GDRs, enter into foreign currency transactions including forward contracts to facilitate index tracking, and lend securities. It generally uses full replication, with sampling permitted if assets fall below $5 million.