Carefully consider the Funds' investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s prospectus and Summary Prospectus, which may be obtained by visiting Read the prospectus and Summary Prospectus carefully before investing.

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Investing involves risk, including possible loss of principal. The Fund is non-diversified; to the extent the Fund’s investments are concentrated in or have significant exposure to a particular issuer, industry or group of industries, or asset class, the Fund may be more vulnerable to adverse events affecting such issuer, industry or group of industries, or asset class than if the Fund’s investments were more broadly diversified. Issuer-specific events, including changes in the financial condition of an issuer, can have a negative impact on the value of the Fund.

The Fund may invest in ETFs that hold equity securities and, under certain market conditions, in ETFs that hold debt securities. The Fund is subject to the risks associated with the ETFs’ investments, including the possibility that the value of the instruments held by an ETF could decrease. The Fund’s exposure to a particular risk will be proportionate to the Fund’s overall allocation and each ETF’s asset allocation. In addition, by investing in the Fund, shareholders indirectly bear fees and expenses charged by the ETFs in addition to the Fund’s direct fees and expenses. As a shareholder in another ETF, the Fund bears its proportionate share of the ETF’s expenses, potentially subjecting Fund shareholders to duplicative expenses.

There is no guarantee that the Sub-Adviser’s allocation techniques and decisions will produce the desired results.  Investments in non-U.S. securities involve certain risks that may not be present with investments in U.S. securities including foreign currency fluctuations or to expropriation, nationalization or adverse political or economic developments, relatively low market liquidity and decreased publicly available information.  Non-U.S. issuers may also be subject to inconsistent and potentially less stringent accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

A smaller fund is subject to the risk that its performance may not represent how the fund is expected to or may perform in the long term. In addition, smaller funds may not attract sufficient assets to achieve investment and trading efficiencies.

Shares are bought and sold at market price not net asset value (NAV) and are not individually redeemed from the Fund. Performance is based on the official closing price from the Exchange and does not represent the return you would receive if you traded at other times.