Fund Description

The fund seeks its objective by investing, under normal circumstances, at least 80% of net assets (including borrowings) in shares of registered open-end funds and ETFs that invest at least 80% of assets, or substantially all assets, in U.S. equity securities such as common and preferred stocks or securities convertible into stocks. It diversifies by investing primarily in investment companies focusing on different segments of the equity markets, including large-, small- and micro-cap equity securities, and the underlying investment companies may invest in asset classes described as U.S. large cap value, U.S. small cap value, U.S. large company (S&P 500 Index), U.S. small cap, and U.S. micro cap. Underlying investment companies may use derivatives, such as futures contracts and options on futures contracts for U.S. equity securities and indices, to adjust market exposure based on actual or expected cash inflows to or outflows from the underlying investment company, and underlying index-based ETFs may use derivatives to help the ETF track its underlying index. Investing in other funds may duplicate expenses, including advisory fees. The fund may hold up to 100% in cash and money market instruments as a temporary defensive measure.