The Fund seeks to replicate as closely as possible before expenses the performance of an index derived from the biotechnology segment of a U.S. total market composite index. The Fund approach is designed to provide portfolios with low portfolio turnover accurate tracking and lower costs. The Fund uses a passive management strategy designed to track the total return performance of the S&P Biotechnology Select Industry Index. The S&P Total Market Index tracks all the U.S. common stocks listed on the NYSE American Stock Exchange and NASDAQ National Market and NASDAQ Small Cap exchanges. The Biotech Index is an equal weighted market cap index. The Fund May invest in money market instruments including repurchase agreements in convertible securities and in options and futures contracts.