The investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the MVISä US Listed Biotech 25 Index.
The fund normally invests at least 80% of its total assets in securities that comprise the fund's benchmark index. The Biotech Index includes common stocks and depositary receipts of U.S. exchange-listed companies in the biotechnology sector. Such companies may include medium-capitalization companies and foreign companies that are listed on a U.S. exchange. It is non-diversified.