Fund Description

The fund uses an indexing investment approach designed to track the performance of the MSCI US Investable Market Index (IMI)/Consumer Discretionary 25/50, which includes stocks of large-, mid-, and small-cap U.S. companies in the consumer discretionary sector as classified under GICS. The sector consists of companies that tend to be most sensitive to economic cycles, spanning manufacturing industries such as automotive, household durable goods, textiles and apparel, and leisure equipment, as well as services including hotels, restaurants and other leisure facilities, media production and services, and consumer retailing and services. The fund seeks to replicate the index by investing all, or substantially all, of its assets in index stocks in approximately the same proportions as their weightings.