Industry description
The investment seeks investment results that match, the performance of the S&P MidCap 400® Pure Value Index for mid-cap value securities on a daily basis.
The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies in the underlying index and derivatives and other instruments whose performance is expected to correspond to that of the underlying index. The index is composed of those constituents of the S&P MidCap 400® that exhibit the strongest value characteristics as measured using three factors: the ratios of book value, earnings, and sales to price. The fund is non-diversified.