Toews Managed Risk Equity

The fund's adviser primarily pursues its investment objectives through strategic allocations to derivative instruments, notably futures contracts tied to equity indices representing companies across the entire capitalization spectrum. Core holdings also encompass fixed income securities and highly liquid cash equivalents. As a supplementary approach, the fund may directly invest in a broad range of U.S. equities, including those of any market capitalization, alongside large-cap foreign stocks and exchange-traded funds (ETFs) predominantly focused on common stock.