Investment risk

INVESTMENT RISKS TO CONSIDER: Investment in the Fund entails certain risks.

Investment returns and principal value of the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Some of the principal risks of investing in the Fund include focused portfolio risk, portfolio turnover risk, derivatives risk, OTC derivatives counterparties risk, and equity securities risk. These and other risks are described in the Fund’s prospectus.