The fund captures the US large-cap space well much like any ETFs tracking the S&P 500. It provides an outstanding outlook to the 500 largest companies of the US equity market whilst being market-cap weighted. Derivatives are also in the mix in seeking to hedge the USD exposure of the securities to the CAD. Despite the common perception that the index offers pure market-cap exposure to the US economy, its committee can exercise discretion to exclude specific companies in seeking long-term capital growth. Overall, the fund delivers comprehensive exposure to the U.S stock market inexpensively using low-cost but efficient management techniques while CAD-hedged. The index is rebalanced quarterly.