Morningstar Income & Growth ETF Asset Allocation Portfolio Class II IETFX Strategy

The investment seeks current income and capital appreciation. The fund normally invests at least 80% of its net assets plus the amount of any borrowings for investment purposes, in securities of exchange-traded funds. The advisor typically expects to allocate its investments in ETFs such that 60% of such allocation is invested in ETFs that invest primarily in fixed-income securities and money market instruments and approximately 40% of such allocation is invested in ETFs that invest primarily in equity securities of large, medium and small sized companies, and may include other investments such as commodities and commodity futures.