The Fund is a passively managed Exchange-Traded Fund (ETF), which aims to achieve the net total return performance of the S&P 500 Low Volatility Index (the Index) , less fees, expenses and transaction costs. To achieve the investment objective the Fund will, as far as possible and practicable, hold all the securities in the Index in their respective weightings. The Index aims to reflect the performance of the 100 least volatile stocks in the S&P 500 index (the Parent Index).