Rydex S&P Equal Weight Financials ETF (the Fund) seeks to replicate as closely as possible the performance of the S&P Equal Weight Index Financials (the Index). The Index is an unmanaged equal-weighted version of the S&P 500 Financials Index that consists of the common stocks of industries, such as banks, diversified financials, brokerage, asset management insurance and real estate, including investment trusts that comprise the financials sector of the S&P 500 Index. The Fund uses a passive management strategy, known as replication, to track the performance of the Index. Replication refers to investing in substantially all of the securities in the Index in approximately the same proportions as in the Index. The Fund is advised by PADCO Advisors II, Inc., which operates under the name Rydex Investments.