This actively managed exchange-traded fund (ETF) endeavors to generate investment returns that surpass the total performance of the wider U.S. equity market, on a risk-adjusted basis. To achieve this, its investment approach involves allocating capital to either other ETFs primarily focused on large-capitalization American equities (referred to as "Underlying ETFs") or the individual stocks comprising such Underlying ETFs. Additionally, it takes long or short positions in futures contracts connected to one or more U.S. equity market indices. The fund typically commits around 80% of its net assets to these Underlying ETFs or their constituent securities.