The Fund seeks to provide investors with a total return, taking into account capital and income returns, which reflects the return of an equity index called the NASDAQ AlphaDEX Emerging Markets Index. In order to achieve its investment objective, the investment policy of this Fund is to invest at least 90% of its net assets in a portfolio of equity securities that consists of the equity securities of the Index or in depositary receipts. The Fund attempts to replicate, before fees and expenses, the performance of the Index. The Investment Manager will seek to do this by replicating so far as possible the investments in the Index.