HWAY is a passively managed ETF with a broad infrastructure theme. The fund provides exposure to US companies that generate at least 50% of their revenue from business operations involved with building materials, equipment, logistics, construction, and engineering services used for the development and maintenance of infrastructure projects. The selection process begins with an index universe comprised of securities of various market capitalization, denominated and headquartered in the US, that meet market-cap and liquidity requirements. Only one share class of each company is included. The fund identifies companies meeting the infrastructure theme based on the FactSet RBICS industry classification of Transportation Infrastructure Construction, Transportation Operators, Telecommunication Infrastructure, Water and Energy Infrastructure, Infrastructure Materials and Components, Infrastructure Construction, and Construction Machinery. The fund selects the top 100 securities by market cap, setting a cap limit of 4.5%. The fund is rebalanced semi-annually.

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