p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund is an activelyspan class="nobreak"-managed/span ETF that, under normal market circumstances, seeks to provide current income while seeking to provide capital appreciation. The Fund will invest at least 80% of its net assets (including borrowings for investment purposes) in equity securities and financial instruments that give economic exposure to equity securities through a daily putspan class="nobreak"-write/span options strategy. The Fund’s investment adviser is Innovator Capital Management, LLC (span class="Italic" style="font-style:italic;font-weight:normal;"“Innovator”/span or the span class="Italic" style="font-style:italic;font-weight:normal;"“Adviser”/span) and the Fund’s investment subspan class="nobreak"-adviser/span is Milliman Financial Risk Management LLC (span class="Italic" style="font-style:italic;font-weight:normal;"“Milliman” /spanor the span class="Italic" style="font-style:italic;font-weight:normal;"“Sub/spanspan class="nobreak"span class="Italic" style="font-style:italic;font-weight:normal;"-Adviser/span/spanspan class="Italic" style="font-style:italic;font-weight:normal;"”/span). The Fund is classified as a “nonspan class="nobreak"-diversified/span company” under the Investment Company Act of 1940, as amended (the span class="Italic" style="font-style:italic;font-weight:normal;"“1940 Act”/span)./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"As further described below, the Fund seeks to achieve its investment objective by implementing an investment strategy that invests: (i) a portion of its assets in select equity securities that comprise a broad U.S. large capitalization equity index; (ii) in financial instruments that provide 100% notional exposure to the investment performance of a daily “putspan class="nobreak"-write/span” options portfolio (the span class="Italic" style="font-style:italic;font-weight:normal;"“Options Strategy”/span); and (iii) in U.S. Treasury bills (span class="Italic" style="font-style:italic;font-weight:normal;"“U.S. T/spanspan class="nobreak"span class="Italic" style="font-style:italic;font-weight:normal;"-Bills/span/spanspan class="Italic" style="font-style:italic;font-weight:normal;"”/span) and/or money market funds. The Fund’s portfolio is designed to produce the following investment profile:/p p class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:3;margin-top:12pt;"span class="bullet" style="font-family:Symbol, sans-serif;font-size:12pt;font-style:normal;font-weight:normal;"•/spanspan style="width: 18px;display: inline-block;"   /spanspan class="Italic" style="font-style:italic;font-weight:normal;"Investment Growth Potential:/span/p p class="BL_m_L2_IN_Circle" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;margin-bottom:0;margin-left:72pt;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:3;list-style-type:none;margin-left:66pt;margin-top:12pt;"span class="bullet" style="font-family:Symbol, sans-serif;font-size:12pt;font-style:normal;font-weight:normal;"οspan style="width: 12px;display: inline-block;" /span/spanspan class="CharOverride-3" style="text-decoration:underline;"Capital Appreciation./span    The Fund invests approximately 50% of its net assets in the equity securities of certain companies that are components of the Solactive GBS United States 500 Index (the span class="Italic" style="font-style:italic;font-weight:normal;"“U.S. Equity Index”/span), a broad U.S. largespan class="nobreak"-capitalization/span equity index (the span class="Italic" style="font-style:italic;font-weight:normal;"“Equity Portfolio”/span). Through the Equity Portfolio, the Fund seeks to provide capital appreciation by experiencing the performance of the U.S. Equity Index to the extent of the Fund’s investment. span class="Italic" style="font-style:italic;font-weight:normal;"See /span“Investment Portfolio—Equity Portfolio” below for additional information./p p class="BL_m_L2_IN_Circle" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;margin-bottom:0;margin-left:72pt;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:3;list-style-type:none;margin-left:66pt;margin-top:12pt;"span class="bullet" style="font-family:Symbol, sans-serif;font-size:12pt;font-style:normal;font-weight:normal;"οspan style="width: 12px;display: inline-block;" /span/spanspan class="CharOverride-3" style="text-decoration:underline;"Current Income./span    The Fund seeks to provide current income through monthly distributions generated primarily from premiums received from the implementation of the Options Strategy. The Options Strategy generates income from sold singlespan class="nobreak"-day/span expiration, approximately “5 delta” outspan class="nobreak"-of-the-money/span put option contracts that reference the Samp;P 500span class="Superscript" style="vertical-align:super;font-size:58%;"®/span Price Return Index (span class="Italic" style="font-style:italic;font-weight:normal;"“SPX”/span), a broad U.S. largespan class="nobreak"-capitalization/span index that provides investment results substantially similar to the U.S. Equity Index (the “span class="Italic" style="font-style:italic;font-weight:normal;"Daily Put Contracts”/span). As further described below, a “5 delta” Daily Put Contract is intended to have a low probability (span class="Italic" style="font-style:italic;font-weight:normal;"i.e./span, approximately a 5% chance) of finishing inspan class="nobreak"-the-money/span, at which point the Fund’s investment in the Daily Put Contract would experience a loss. As described further below, the Daily Put Contracts have expiration dates of the business day that immediately follows the day the Daily Put Contract is entered into. Through the Options Strategy, the Fund intends to sell Daily Put Contracts which have a notional value (span class="Italic" style="font-style:italic;font-weight:normal;"i.e./span, the total underlying amount of a derivatives trade that measures the economic exposure of such position) that covers approximately 100% of the Fund’s net assets. The Fund also expects to receive income generated by its investments in U.S. Tspan class="nobreak"-Bills/span, money market funds and dividends, if any, from its investments in components of the U.S. Equity Index, as detailed below. span class="Italic" style="font-style:italic;font-weight:normal;"See /span“Investment Portfolio—Options Strategy” below for additional information./pp class="BL_m" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;list-style-position:outside;list-style-type:disc;margin-bottom:0;margin-left:36pt;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:-18pt;widows:3;list-style-type:none;margin-top:12pt;"span class="bullet" style="font-family:Symbol, sans-serif;font-size:12pt;font-style:normal;font-weight:normal;"•/spanspan style="width: 18px;display: inline-block;"   /spanspan class="Italic" style="font-style:italic;font-weight:normal;"Investment Loss Potential.    /spanOn a daily basis,span class="Italic" style="font-style:italic;font-weight:normal;" /spanthe Fund will be subject to the downside performance of the Equity Portfolio and SPX by virtue of the Options Strategy. Through the Equity Portfolio, the Fund has the potential for capital loss by experiencing the daily returns of the U.S. Equity Index to the extent of the Fund’s investment. In addition, the Fund will experience losses from the Daily Put Contracts if the value of SPX falls below the strike price of the Daily Put Contracts written by the Fund. Because the Options Strategy has a notional value equal to 100% of the Fund’s assets, losses of the Options Strategy, combined with losses of the Equity Portfolio, may exceed losses experienced by the U.S. Equity Index and/or SPX. The Fund’s monthly income payments to investors may not be sufficient to offset any such losses on a total return basis. span class="Italic" style="font-style:italic;font-weight:normal;"See/span “Options Strategy” below for additional information./p p class="H6" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:avoid;page-break-before:auto;text-align:justify;text-decoration:underline;text-indent:0;widows:2;margin-top:12pt;"span class="CharOverride-1" style="font-style:normal;font-weight:bold;text-decoration:underline;"Investment Portfolio/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund is designed to provide monthly distribution payments while providing capital appreciation. The following chart represents the Fund’s portfolio, related investment function of each component, and approximate weightings within the portfolio. The Fund is an actively managed fund, and accordingly, the Subspan class="nobreak"-Adviser/span, subject to the supervision of the Adviser, has discretion to select the Fund’s investments and implement the Fund’s investment strategies./p p class="Text_flush_old" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:8pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;text-align:center;margin-top:8pt;"span class="Bold" style="font-style:normal;font-weight:bold;font-size:12pt;"Fund Holdings/span/p table class="NOGUTTER TableOverride-1" style="width: 100.0%; border-collapse: collapse; border: 0px solid #000; border-width: 0pt; margin: 10pt 0 10pt 0;" tr class="NOGUTTER _idGenTableRowColumn-17" td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;background-color:#d9d9d9;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:3pt;padding-left:0pt;padding-right:0pt;padding-top:3pt;width: 17.30%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom" p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0;"span class="Bold" style="font-style:normal;font-weight:bold;"Portfolio br/Investment/span/p /td td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;background-color:#d9d9d9;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:3pt;padding-left:0pt;padding-right:0pt;padding-top:3pt;width: 17.94%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom" p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0;"span class="Bold" style="font-style:normal;font-weight:bold;"Approximate br/Weightings or br/Notional Value/span/p /td td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;background-color:#d9d9d9;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:3pt;padding-left:0pt;padding-right:0pt;padding-top:3pt;width: 26.53%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom" p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0;"span class="Bold" style="font-style:normal;font-weight:bold;"Investment Details/span/p /td td class="TCH" style="border-bottom-style:solid;border-bottom-width:1pt;border-left-width:0pt;border-right-width:0pt;border-top-style:solid;border-top-width:0pt;padding-bottom:4pt;padding-left:3pt;padding-right:3pt;padding-top:2pt;vertical-align:bottom;background-color:#d9d9d9;border-bottom-color:#000000;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:3pt;padding-left:0pt;padding-right:0pt;padding-top:3pt;width: 38.23%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="bottom" p class="TCH" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:bold;margin-bottom:0;margin-left:0;margin-right:3pt;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:center;text-indent:0;widows:1;margin-right:0;"span class="Bold" style="font-style:normal;font-weight:bold;"Intended Investment Function/span/p /td /tr tr class="NOGUTTER _idGenTableRowColumn-18" td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 17.30%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"span class="Bold" style="font-style:normal;font-weight:bold;"Options Strategy/span/p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 17.94%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"Notional exposure of approximately 100% of the Fund’s assets/p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 26.53%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="-sec-ix-redline:true;margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;text-align:left;"The Fund will sell Daily Put Contracts that cover 100% of the Fund’s assets through Daily Put Contracts sold directly by the Fund. In addition to Daily Put Contracts, the Fund may also use equityspan class="nobreak"-linked/span notes (span class="italic" style="font-style:italic;font-weight:normal;"“ELNs”/span) or swap agreements to implement the Options Strategy./p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 38.23%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"Provides the Fund with recurring monthly income. The Options Strategy generates income in the form of premiums received while subjecting the Fund to potential downside exposure from losses experienced by SPX. The Daily Put Contracts provide income received for selling put options on 100% of the Fund’s net assets. span class="Italic" style="font-style:italic;font-weight:normal;"See /span“Principal Investment Strategies–Options Strategy” and “Additional Information About the Fund’s Principal Investment Strategies” for additional information./p /td /tr tr class="NOGUTTER _idGenTableRowColumn-19" td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 17.30%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"span class="Bold" style="font-style:normal;font-weight:bold;"Equity Portfolio/span/p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 17.94%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"50% of the Fund’s assets/p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 26.53%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;text-align:left;"The Fund invests in a representative sample of equity securities of companies in the U.S. Equity Index./p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 38.23%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"Provides capital appreciation by replicating the returns of the U.S. Equity Index while also providing dividend income, each to the extent of the Fund’s investment weighting. span class="Italic" style="font-style:italic;font-weight:normal;"See /span“Principal Investment Strategies–Equity Portfolio” for additional information./p /td /tr tr class="NOGUTTER _idGenTableRowColumn-20" td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 17.30%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"span class="Bold" style="font-style:normal;font-weight:bold;"U.S. T/spanspan class="nobreak"span class="Bold" style="font-style:normal;font-weight:bold;"-Bills/span/spanspan class="Bold" style="font-style:normal;font-weight:bold;" and/or Money Market Funds/span/p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 17.94%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"50% of the Fund’s assets/p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 26.53%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;text-align:left;"The Fund invests in: (1) U.S. Tspan class="nobreak"-Bills/span with maturities of less than one year; and/or (2) money market funds./p /td td class="TB" style="border-bottom-width:0pt;border-left-width:0pt;border-right-width:0pt;border-top-width:0pt;padding-bottom:3pt;padding-left:3pt;padding-right:3pt;padding-top:3pt;vertical-align:top;border-bottom-color:#000000;border-bottom-style:solid;border-bottom-width:1pt;border-left-color:#000000;border-left-style:solid;border-left-width:1pt;border-right-color:#000000;border-right-style:solid;border-right-width:1pt;border-top-color:#000000;border-top-style:solid;border-top-width:1pt;padding-bottom:4pt;padding-left:0pt;padding-right:0pt;padding-top:4pt;width: 38.23%; padding: 0in 0in 3px 0in;border-width: 0pt;border-left: windowtext 1pt none; border-left-style: solid;border-right: windowtext 1pt none; border-right-style: solid;border-top: windowtext 1pt none; border-top-style: solid;border-bottom: windowtext 1pt none; border-bottom-style: solid;" valign="top" p class="Texttable" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:10pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:0;orphans:1;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:1;margin-left:3pt;margin-right:3pt;margin-top:3pt;"Provides the potential for income and serves as collateral for the Daily Put Contracts. span class="Italic" style="font-style:italic;font-weight:normal;"See /span“Principal Investment Strategies–U.S. Treasury Bills and Money Market Funds” for additional information./p /td /tr /tablep class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"span class="Italic" style="font-style:italic;font-weight:normal;"Options Strategy/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund seeks to provide current income through monthly distributions generated primarily from premiums received from implementing a daily “putspan class="nobreak"-write/span” options portfolio. The Fund seeks to obtain 100% notional exposure to the Fund’s net assets through the implementation of the Options Strategy. In general, an option contract is an agreement between a buyer and seller that gives the purchaser of the option contract the right to buy or sell a particular asset at a specified future date at an agreed upon price. A put option contract gives the buyer of the put option contract the right (but not the obligation) to sell, and the seller of the put option contract (the “writer”) the obligation to buy, a specified amount of an underlying security at a prespan class="nobreak"-determined/span price (the “strike price”). If the price of the reference asset finishes above the strike price, the option contract expires worthless and the writer of the put option contract will experience a gain equal to the premium received for selling the option contract. If the price of the reference asset finishes below the strike price, the writer of the put option contract will experience losses equal to the difference between the price of the reference asset at exercise and the strike price, offset to the extent of the premiums received for writing the option contract. The Fund will sell exchangespan class="nobreak"-traded/span option contracts. Exchangespan class="nobreak"-traded/span option contracts have standardized terms, such as the type (call or put), the reference asset, the strike price and expiration date. Exchangespan class="nobreak"-traded/span option contracts are guaranteed for settlement by the Options Clearing Corporation (span class="Italic" style="font-style:italic;font-weight:normal;"“OCC”/span). The Fund sells option contracts that reference an index, and are cashspan class="nobreak"-settled/span “European” style option contracts. An option is considered to be “European” style when it can be exercised only at expiration (contrasted with “American” style which can be exercised at any time prior to expiration). The Options Strategy utilizes “daily” option contracts (span class="Italic" style="font-style:italic;font-weight:normal;"i.e./span, option contracts with an expiration date of the immediately following business day)./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund implements the Options Strategy which utilizes “Daily Put Contracts” — onespan class="nobreak"-day/span maturity (span class="Italic" style="font-style:italic;font-weight:normal;"i.e./span, options with an expiration date of the close of the next business day), “5 delta” put option contracts that reference SPX on a daily basis in order to provide income by virtue of premiums received. The amount of premiums generated by the Daily Put Contracts will vary based on market conditions. “Delta” is a measurement to calculate the probability that an option contract will finish inspan class="nobreak"-the-money/span, at which point an investment in the option contract will experience a loss. The Daily Put Contracts are designed to reduce the likelihood such option contracts finish inspan class="nobreak"-the-money/span, as a 5 delta put option contract is believed to have a 5% chance of finishing inspan class="nobreak"-the-money/span. span class="Bold" style="font-style:normal;font-weight:bold;"While the Options Strategy seeks to minimize the risk associated with the written put option contracts, the Fund’s sold Daily Put Contracts subject the Fund to risk of loss, including the risk that the Fund may lose a significant amount of its assets in a short period of time./span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund will experience losses from selling Daily Put Contracts directly if the value of SPX falls below the strike price. The Daily Put Contracts are considered to be uncovered, meaning the Fund does not directly own the securities underlying the option contracts. However, the Fund uses U.S. Tspan class="nobreak"-Bills/span and money market funds as collateral for these purposes and will liquidate assets as necessary to cover any losses incurred by its sold put option contracts./p p class="Text_flush" style="-sec-ix-redline:true;margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"In addition to the usage of Daily Put Contracts, the Fund may also use ELNs or swap agreements to implement the Options Strategy. The Fund may use ELNs or swap agreements to obtain 100% notional exposure to the Daily Put Contracts. ELNs are hybrid derivativespan class="nobreak"-type/span instruments that are designed to combine the characteristics of one or more reference securities (e.g., a single stock, a stock index or a basket of stocks) and a related equity derivative. ELNs are structured /pp class="Text_flush" style="-sec-ix-redline:true;margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"as notes that are issued by counterparties, including banks, brokerspan class="nobreak"-dealers/span or their affiliates, and that are designed to offer a return linked to the underlying instruments within the ELN. A swap agreement is an instrument entered into primarily with major global financial institutions for a specified period ranging from a day to more than one year. In a swap transaction, the Fund and a counterparty will agree to exchange or “swap” payments based on the change in value of the underlying reference assets./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"span class="Italic" style="font-style:italic;font-weight:normal;"Equity Portfolio/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund seeks to provide capital appreciation, as well as the potential for income, through the Equity Portfolio. The Fund anticipates investing approximately 50% of its assets in select equity securities of companies that are components of the U.S. Equity Index. As a result, the Fund will not experience the full extent of the investment gains or losses of the U.S. Equity Index, because only a portion of the Fund’s assets (span class="Italic" style="font-style:italic;font-weight:normal;"i.e./span, approximately 50%) are invested in the Equity Portfolio./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The U.S Equity Index seeks to provide the returns of the 500 largest U.S. companies, as measured by market capitalization. The U.S. Equity Index is comprised of the common stock of the largest 500 U.S. companies ranked by total market capitalization (according to the securities’ free float market capitalization) in descending order. The U.S. Equity Index is rebalanced and reconstituted quarterly. The Fund will not invest in each component of the U.S. Equity Index. Rather, the Fund’s investment weightings of the constituents of the U.S. Equity Index in the Equity Portfolio will seek to provide returns that are substantially similar to the U.S. Equity Index. To the extent the Fund’s representative sampling approach fails to replicate the returns of the U.S. Equity Index, the level of noncorrelation with the returns of the U.S. Equity Index could increase and the Fund may further underperform the U.S. Equity Index. For additional information relating to the U.S. Equity Index, span class="Italic" style="font-style:italic;font-weight:normal;"see /span“Additional Information About the Fund’s Principal Investment Strategies.”/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund may receive additional income through the Equity Portfolio to the extent any companies in which it invests pay dividends. Any dividend payments received by the Fund will be paid to investors as part of its anticipated monthly distributions./p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"span class="Italic" style="font-style:italic;font-weight:normal;"U.S. Treasury Bills and Money Market Funds/span/p p class="Text_flush" style="margin:0;padding:0;border-width:0;font-family:Times New Roman PS Std, serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:normal;margin-bottom:0;margin-left:0;margin-right:0;margin-top:12pt;orphans:2;page-break-after:auto;page-break-before:auto;text-align:justify;text-indent:0;widows:3;margin-top:12pt;"The Fund invests approximately 50% of its assets in: (1) U.S. Tspan class="nobreak"-Bills/span with maturities of less than onespan class="nobreak"-year/span (the Subspan class="nobreak"-Adviser/span generally expects to use U.S. Tspan class="nobreak"-Bills/span with one or three month maturities); and/or (2) money market funds. U.S. Treasury securities are government debt instruments issued by the United States Department of Treasury and are backed by the full faith and credit of the United States government. Money market funds is a type of fund that invests in cash, cash equivalents and shortspan class="nobreak"-term/span debt securities, and seeks to generate income while minimizing risk. It is possible for the Fund to lose money by investing in money market funds. Money market funds are subject to management fees and other expenses of those funds, and the Fund will bear proportionately the costs incurred by the money market funds’ operations in addition to the Fund’s management fee. The Fund’s investment in U.S. Tspan class="nobreak"-Bills/span and/or money market funds provides an opportunity for additional income to the Fund and serves as collateral for the Fund’s sold put option contracts, if any. The Fund’s investments in U.S. Tspan class="nobreak"-Bills/span and/or money market funds may be greater than 50% to the extent the Fund needs additional collateral for its direct selling of put option contracts./p