Fund Description

The fund invests at least 80% of net assets in U.S.-traded equity securities of basic materials companies and in derivatives, primarily futures and options on securities, futures, and stock indices. It uses a proprietary quantitative and qualitative process with screens for price, liquidity, and tradability, then applies a proprietary modified capitalization-weighting approach, with adjustments for regulatory limits or as deemed appropriate. It may invest significantly in small- to mid-cap companies, use ADRs for foreign exposure, and hold U.S. government securities. Derivatives may create financial leverage, magnifying volatility and potentially requiring sales to meet leverage, margin, collateral, or redemption needs. The fund may trade near market close to remain fully invested.