This fund will commit a minimum of 80% of its net assets to the companies represented in its benchmark index. The advisor anticipates a highly concentrated investment strategy, generally allocating at least 95% of the fund's net assets to these particular securities. The underlying index is designed to offer comprehensive, core equity exposure to emerging markets, tracking the stock performance of as many as 700 companies in these developing economies. A key feature of this index is its deliberate exclusion of companies headquartered in or listed on exchanges in China, as well as those based in Hong Kong. This investment vehicle is classified as non-diversified.

ICICI Bank Limited

VanEck Semiconductor ETF

Independence Holding Company

iShares Semiconductor ETF

HDFC Bank Limited

Infosys Limited

Fisker Inc.

Gold Fields Limited

Banco BTG Pactual S.A. Units Cons of 1 Sh ' 2 Pfd Shs -A-

First Trust Multi Cap Value AlphaDEX Fund

Technology

Financial Services

Industrials

Basic Materials

Consumer Cyclical

Communication Services

Energy

Consumer Defensive

Healthcare

Utilities

Columbia EM Core ex-China ETF

XCEM Holdings & Sector Breakdown

XCEM Holdings & Sector Breakdown