To pursue its goal, the fund generally is fully invested in stocks included in the S&P MidCap 400® Index and in futures whose performance is tied to the index. The fund generally invests in all of the stocks in the S&P MidCap 400® Index in proportion to their weighting in the index.

Because the fund has expenses, performance will tend to be slightly lower than that of the S&P MidCap 400® Index. The fund attempts to have a correlation between its performance and that of the S&P MidCap 400® Index of at least .95, before fees and expenses. A correlation of 1.00 would mean that the fund and the index were perfectly correlated.

The S&P MidCap 400® Index is an unmanaged index of the common stocks of 400 mid-sized companies. S&P weights each company's stock in the index by its market capitalization (i.e., the share price times the number of shares outstanding), adjusted by the number of available float shares (i.e., those shares available to public investors). As of February 2026, companies included in the S&P MidCap 400® Index generally have market capitalizations ranging between approximately $8.0 billion and $22.7 billion.

The fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that the index is concentrated. In addition, to the extent the fund purchases securities comprising the S&P MidCap 400® Index, the fund may, from time to time, invest a significant portion of its assets in securities of companies in certain sectors, such as the industrial sector.

"Standard & Poor's®," "S&P®" and "S&P MidCap 400® Index" are trademarks of Standard & Poor's Financial Services LLC and have been licensed for use by the fund. The fund is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the fund.