Where To Look In Low Earnings Environment

Spread represents the difference between two values.

Return on equity is a measure of profitability, calculated as net income as a percentage of shareholders’ equity.

Free cash flow is a measure of financial performance, calculated as operating cash flow minus capital expenditures.

Earnings per share refers to a company’s total earnings divided by the number of outstanding shares.

Sales represents the amount realized from selling goods or services in the normal operations of a company in a specified period.

In general, stock values fluctuate, sometimes widely, in response to activities specific to the company as well as general market, economic and political conditions.

There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

Investments focused in a particular sector, such as industrials, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.