1 Visit Pax Ellevate’s Gender Research page for a list of studies on the relationship between gender diversity and corporate performance: http://www.paxellevate.com/resources/gender-research

RISKS: Equity investments are subject to market fluctuations, the fund's share price can fall because of weakness in the broad market, a particular industry, or specific holdings. The Fund does not take defensive positions in declining markets. The Fund’s performance would likely be adversely affected by a decline in the Index. Investments in emerging markets and non-U.S. securities are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation, intervention and political developments.  There is no guarantee that the objective will be met and diversification does not eliminate risk