RPG

About RPG

TheFund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index.Strictlyin accordance with its guidelines and mandated procedures, S&PDow Jones Indices LLC (“S&P DJI” or the “Index Provider”) compiles, maintains and calculates the UnderlyingIndex, which is composed of a subset of securities from the S&P 500®Index (the “Parent Index”) that exhibit strong growth characteristics. First, each security in the Parent Index is assignedtwo “style scores” – one for growth and one for value – based on the characteristics of the issuer. The “growthscore” is measured using three factors: three-year sales per share growth rate, the ratio of the three-year net change in earningsper share to current price per share, and momentum (the 12-month percentage change in price). The “value score” is measuredusing three other factors: book-value-to-price ratio, earnings to price ratio, and sales to price ratio. The securities in the ParentIndex are then ranked based on their relative growth and value scores. Unlike other style indices that may contain all securities withinthe Parent Index, including overlapping constituents that exhibit both growth and value characteristics, the Underlying Index is narrowerin focus and excludes any overlapping securities demonstrating both growth and value characteristics and includes only those securitiesthat exhibit “pure growth” characteristics. The Underlying Indexweights constituents accordingto theirgrowth scores, such that securities demonstrating the strongest growth characteristics generally receive proportionally greater weights.Asof June 30, 2023, the Underlying Index was comprised of 57 constituentswith market capitalizations ranging from $10.54 billion to $3.05 trillion.TheFund employs a “full replication” methodology in seeking to track theUnderlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to theirweightings in the Underlying Index.TheFund intends to be “diversified,” as defined in theInvestment Company Act of 1940, as amended (the “1940 Act”), to the extent that the Underlying Index is diversified. The Fundmay become “non-diversified” as defined in the 1940 Act solely as a result of a change in relative market capitalization orindex weighting of one or more constituents of the Underlying Index. Should the Fund become “non-diversified,” it will nolonger be required to meet certain diversification requirements under the 1940 Actand may invest a greater portion of its assets in securities ofa small group of issuers or in any one individual issuer than can a diversified fund. Shareholder approval will not be sought when theFund crosses from diversified to non-diversified status solely due to a change in relative market capitalization or index weighting ofone or more constituents of the Underlying Index. In seeking to track the Underlying Index, the Fund was managed as diversified as ofApril 30, 2023.ConcentrationPolicy. TheFund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any oneindustry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries.The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. As of April30, 2023, the Fund had significant exposure to the energy sector. The Fund’s portfolio holdings, and the extent to which it concentratesits investments, are likely to change over time.