Industry description
The investment seeks to provide investment results approximating (before fees and expenses) the aggregate price and dividend performance of the securities included in the S&P MidCap 400 Index.
The fund invests at least 80% (and, typically, substantially all) of its net assets (plus the amount of any borrowings for investment purposes) in the equity securities of companies included in the index, in weightings that approximate the relative composition of the securities contained in the index, and in S&P MidCap 400 Index futures contracts. The index is a widely recognized, unmanaged index representative of common stocks of mid-capitalized U.S. companies.