The investment objective of the Fund is to track the price and performance, before fees and expenses, of an index comprising a group of leading Nasdaq-listed companies, identified by the Index Provider as the 'Magnificent Seven' (Mag7). In order to seek to achieve its investment objective, the Fund will adopt a "passive management" investment strategy and will seek to employ a replication methodology, meaning as far as possible and practicable, it will invest in the securities in proportion to the weightings comprising the Indxx Defiance Mag7 Index (the Index). The Index is governed by a published methodology and is designed to measure the performance of a specified group of leading Nasdaq-listed companies, identified by the Index Provider. The Index comprises the Mag7 (Meta Platforms, Inc., Alphabet, Inc., Tesla, Inc., Apple, Inc., Microsoft Corp., Nvidia Corp. and Amazon.com, Inc.).