BEDY is actively managed, aiming to generate income through investments in income-producing securities such as dividend-paying stocks, convertible preferred stocks, ADRs, REITs, and equity-linked notes (ELNs). The funds adviser combines proprietary computer modeling, fundamental analysis, and risk management into the investment process. The process focuses on identifying undervalued companies based on intrinsic value, solid business fundamentals, positive momentum, and income potential. The funds sector and risk profile generally align with a broad-based US large-cap value index. Up to 10% of fund assets may be invested in structured notes that provide income through options strategies, futures, and fixed-rate components. These notes are designed to generate distributable income and reduce fund volatility but may also limit upside compared to pure equity investment. The ETF launched through a mutual fund conversion with $164 million in assets.