The Fund seeks to replicate as closely as possible before expenses the performance of an index derived from the homebuilding segment of a U.S. total market composite index. The Fund uses a passive management strategy designed to track the total return performance of the S&P Homebuilders Select Industry Index. The Homebuilders Index represents the homebuilding sub-industry portion of the S&P Total Market 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 Homebuilders 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.