The fund seeks long-term capital growth and income, as well as outperforming its benchmarks on a risk-adjusted basis, by moderately investing in equity and fixed income securities from around the world. Through a blended strategy, the fund uses a passive approach in markets perceived as more efficient while employing active strategies in less efficient markets or where value can be added through expected performance and/or risk management. Based on returns and volatility, the portfolio manager established a baseline allocation of 60% for equities (45% - 75%) and 38% for fixed income assets (28% - 48%). The portfolio may change over time, subject to momentum and fundamental factors. The fund may use of derivatives that may open investors to counterparty risk. It may also enter into repurchase agreements, short selling, securities lending, or investments in other funds. As an actively managed ETF, the portfolio manager has full discretion to buy, sell, or hold securities at any time.