Fund Description

Under normal conditions, the fund invests at least 80% of net assets, plus any borrowings for investment purposes, in growth companies, based on whether a company is a constituent of the Russell 2500 Growth Index (or another unaffiliated growth-oriented index), or whether its five-year average annual revenue or earnings-per-share growth, or its next-two-year consensus estimates compiled by FactSet, exceed the median growth rate for companies in the Russell 2500 Growth Index. It invests primarily in domestic equities, mainly common stocks, and may also hold foreign equities and debt of any maturity or credit quality, including high yield. Using bottom-up fundamental analysis, it builds a diversified portfolio across growth industry leaders, consistent growers, and emerging growth companies, with weights that vary over time, and the ETF Class is actively managed.