divspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in high-quality stocks and written /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"index call option exposure. The Fund may use listed index options or equity-linked notes to achieve the written index call option exposure./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"bEquity Portfolio/b/span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Under normal circumstances, the Fund invests in a diversified portfolio of U.S. large- and mid-capitalization stocks with quality characteristics identified /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"through certain fundamental metrics determined by Gateway Investment Advisers, LLC (the “Subadviser”). Generally, the Subadviser believes that a high-/spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"quality company is a company that has an established business with high relative profitability characteristics and low leverage. For these purposes, large-/spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"capitalization companies are those that, at the time of purchase, generally have market capitalizations of at least $10 billion and mid-capitalization companies /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"are those that, at the time of purchase, generally have market capitalizations of between $2 billion and $10 billion./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"The Subadviser uses a multifactor quantitative model to construct and manage the stock portfolio. The model evaluates U.S.-exchange-traded equities that /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"meet criteria and constraints established by the Subadviser. A quality score is assigned to each security in the investment universe based on systematic /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"factors including profitability and leverage. The strategy seeks to maximize exposure to the weighted quality score, while considering active exposures to /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"individual names, sectors, and the market as a whole. The equity portfolio generally consists of approximately 75-150 securities. Equity securities purchased /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"by the Fund may include U.S. exchange-listed common stocks, preferred stocks, American Depository Receipts and investment companies (including ETFs). /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"The /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Fund may invest in affiliated and unaffiliated mutual funds and ETFs, to the extent permitted by the Investment Company Act of 1940, as amended (the /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"“1940 Act”). The /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"holdings may be/spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;" /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"rebalanced as frequently as desired by the Subadviser to maintain the overall desired exposure to the quality factor./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"bEquity-linked notes (“ELNs”)/b/span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"In order to generate income, the Fund may invest in ELNs. ELNs are investment products that are structured as notes. They are issued by financial institutions /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"such as banks and broker-dealers or entities organized by financial institutions to issue the ELNs. An ELN is designed to offer a return linked to specific /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"economic characteristics identified in the note. The Fund will generally invest in ELNs that are issued in a privately negotiated transaction, including /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"securities offered and sold under Rule 144A of the Securities Act of 1933 (the “Securities Act”)./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"The ELNs in which the Fund invests are derivative instruments. They are designed to replicate a covered call writing strategy by combining into a single note /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"the economic characteristics of (i) an investment in a broad market index and (ii) index covered call writing (“Underlying Characteristics”). The ELNs are /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"expected to provide recurring cash flow to the Fund through this replication. They are expected to be an important source of the Fund’s return./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Investing in ELNs may reduce the Fund’s volatility. On one hand, the income from the ELNs would reduce potential losses incurred by the Fund’s equity /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"portfolio. However, by replicating a covered call strategy in each ELN, the ELNs may also reduce the Fund’s ability to fully profit from potential increases in /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"the value of its equity portfolio./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Generally, when purchasing an ELN, the Fund pays the counterparty an amount based on the Underlying Characteristics plus the cost to structure the ELN. /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Upon maturity of the ELN, the Fund generally receives the par value of the ELN, plus interest, plus or minus a return based on the return of the Underlying /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Characteristics. However, each ELN will be structured so that it cannot lose more than the principal that the Fund paid when purchasing the ELN/spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"; however, in /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"consideration for greater current income or yield, an ELN may be structured such that the Fund may forego its participation in the capital appreciation of the /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"Underlying Characteristics above a predetermined price limit/spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"./span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"bOther Investments/b/span/divdivspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"The Fund may invest in convertible securities, partnerships, when issued/delayed delivery securities and initial public offerings (“IPOs”). The Fund may also /spanspan style="clear:both;font-family:Arial, Helvetica, sans-serif;font-size:10.02pt;;"hold cash and cash equivalents./span/div