This ETF takes a fundamental approach to investing, tracking the Dynamic Market Intellidex Index. This benchmark seeks to select U.S. stocks from each sector identified as having the greatest capital appreciation pursuant to a proprietary Amex Intellidex Methodology. Thanks to this approach, the fund is very diversified across sectors and across market capitalization levels, although it it is slightly biased towards large cap securities. Furthermore, it should be noted that the fund also has a tilt towards growth securities suggesting that it may be too risky for value investors. In total, the fund has roughly 100 securities and it does a decent job of dividing up assets between them; no one fund makes up more than 4.6% of total assets and the top ten holdings take up a reasonable 31.5% of total assets. While this may be a little expensive for a growth fund that is tilted towards large caps-- the expense ratio is 59 basis points-- the methodology has thoroughly crushed the S&P 500 over the long term and the short term although it has been underperforming over the five year period by a small margin. Nevertheless, for investors willing to fork over a little more for extra fees, this methodology may be on to something and could provide growth oriented investors with a solid choice for a small part of their portfolios.