The investment seeks investment results, before fees and expenses, that track the Russell 1000®/FTSE All-World ex US 150/50 Net Spread Index (the index). The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowing for investment purposes) in securities that comprise the Long Component of the index or shares of exchange-traded funds (ETFs) on the Long Component of the index. The index measures the performance of a portfolio that has 150% long exposure to the Russell 1000® Index (the Long Component) and 50% short exposure to the FTSE All-World ex US Index (the Short Component).