This exchange-traded fund's primary objective is to replicate the investment performance (prior to accounting for its own fees and expenses) of the Russell 1000 Value Factor Index. To achieve this, the fund typically allocates a minimum of 90% of its total assets to the securities comprising the underlying index. The benchmark for this fund, the Russell 1000 Value Factor Index, is composed of the one thousand largest publicly traded companies in the United States by market capitalization.