The investment seeks investment results that correspond generally to the price and yield performance, before fees and expenses of the JPMorgan U.S. Sector Rotator TR Series X Index. The fund invests at least 80% of its total assets in the securities of the underlying index. The underlying index aims to participate in the best-performing U.S. sectors of the market while limiting its exposure to the market during periods of high volatility or market declines. The fund is non-diversified.