RWJ

About RWJ

The Fund generally will invest at least 90% of its total assets in the securities that comprise the Underlying Index. Strictly in accordance with its guidelines and mandated procedures, S&P Dow Jones Indices LLC (the “Index Provider”) compiles, maintains, and calculates the Underlying Index, which is designed to measure the performance of positive revenue-producing constituent securities of the S&P SmallCap 600® Index (the “Parent Index”). The Parent Index is comprised of common stocks of approximately 600 small-capitalization companies that generally represent the small-cap segment of the U.S. equity market. Unlike the Parent Index, which weights component securities by float-adjusted market capitalization, thereby giving higher percentage allocations to companies with larger market capitalizations, the Underlying Index uses a “revenue-weighted” methodology, whereby it weights each constituent security based on the sum of the company’s revenues for the trailing four quarters, divided by the total revenue of all Underlying Index constituents, subject to a maximum 5% per company weighting. As of October 31, 2023, the Underlying Index was comprised of 593 constituents with market capitalizations ranging from $222.1 million to 6.5 billion. The Fund employs a “full replication” methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index.The Fund intends to be “diversified,” as defined in the Investment Company Act of 1940, as amended (the “1940 Act”), to the extent that the Underlying Index is diversified. The Fund may become “non-diversified” as defined in the 1940 Act solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Underlying Index. Should the Fund become “non-diversified,” it will no longer be required to meet certain diversification requirements under the 1940 Act and may invest a greater portion of its assets in securities of a small group of issuers or in any one individual issuer than can a diversified fund. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status solely due to a change in relative market capitalization or index weighting of one or more constituents of the Underlying Index. In seeking to track the Underlying Index, the Fund was managed as diversified as of August 31, 2023. Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry 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.