The ETF seeks to replicate, to the extent reasonably possible and before fees and expenses, the performance of a U.S. multifactor-controlled volatility equity index. The ETF seeks to replicate the performance of the Scientific Beta USA Multifactor
-Controlled Volatility Index (the 'Index'). The investment strategy of the ETF is to invest, directly or indirectly, in a portfolio of U.S. equity securities that closely matches the Index. The Index is composed of U.S. equity securities selected upon multiple factors designed to minimize volatility and improve diversification, while providing broad exposure to the U.S. equity market.