NYLIM U.S. Large Cap R&D Leaders ETF LRND Strategy

The investment seeks results that correspond generally to the price and yield performance of its underlying index, the NYLI U.S. Large Cap R&D Leaders Index. The index uses a screening process to exclude companies in sectors where R&D investments have historically had less impact on a company’s performance, and to identify companies that have exhibited a strong commitment for long term growth by reinvesting in R&D. The fund will, under normal circumstances, invest at least 80% of its assets in securities of U.S. large-capitalization issuers determined to be R&D Leaders. The fund is non-diversified.