The Fund is an actively managed ETF, which aims to achieve a long-term return in excess of the Benchmark (the S&P 500 Index) by investing in an actively-managed portfolio of US equities. To achieve the investment objective, the Fund will invest primarily in a portfolio of equity and equity-related securities, tracking stocks and depositary receipts of companies from the United States of America. The Fund will hold an actively-managed portfolio of securities with the aim of delivering superior risk-adjusted returns over the long term when compared with the average performance of the US equity market, for which the Benchmark serves as a reference.