The North American Dividend Achievers™ 50 Index is comprised of companies incorporated in either the United States or Canada and trade on the NYSE, NASDAQ, AMEX or TSX. U.S. companies must have increased their annual regular dividend payments for the last ten or more consecutive years, while Canadian companies must have increased their annual regular dividends a minimum of five consecutive years. In addition, Indxis requires a stock's minimum average daily cash volume of at least $5,000,000 per day for U.S. companies and $3,000,000 for Canadian companies in the Nov. and Dec. prior to each annual reconstitution date in January. The Index is calculated using a dividend yield weighting methodology and is rebalanced quarterly on the last trading dates in April, July and October.

US Universe
Select US companies with at least ten consecutive years of increasing regular dividends (Indxis’ US Dividend Achievers). US companies must be listed on the NYSE, AMEX or NASDAQ. Exclude Master Limited Partnerships (MLPs) and Real Estate Investment Trusts (REITs). US Companies must have a minimum average daily cash volume of US$5,000,000 per day for the November and December prior to each Annual Reconstitution date. Rank the US companies in descending based on their current dividend yield as of the last trading date in December. Select the 35 US companies with the highest current dividend yield as of the last trading date in December. The US Companies will comprise 65% of the index weight.

Canadian Universe
Select Canadian companies with at least five consecutive years of increasing regular dividends (Indxis’ Canadian Dividend Achievers). Canadian companies must be listed on the TSX or a major Canadian exchange. Exclude Master Limited Partnerships (MLPs), Real Estate Investment Trusts (REITs), and Income Trusts (i.e., TSX ticker symbols ending with .UN). Canadian Companies must have a minimum average daily cash volume of US$3,000,000 per day for the November and December prior to each Annual Reconstitution date. Rank the Canadian companies in descending based on their current dividend yield as of the last trading date in December. Select the 15 Canadian companies with the highest current dividend yield as of the last trading date in December. The Canadian Companies will comprise 35% of the index weight. Top Ten Industry Weightings.

General Index Rules
No company may comprise more than 5% of the index. Companies are weighted based on their current dividend yield as of the last trading date in December. The index is reconstituted annually on the last trading date in January. The weight of each company will float between reconstitution and rebalance dates thus it is possible for a company to weigh more than 5% between these periods. The index is rebalanced quarterly on the last trading date in April, July and October. The rebalanced weights for April, July and October will be based on the current dividend yields as of the last trading date in March, June, and September, respectively. In the event of a corporate action, the company removed from the index will be replaced with the company with the highest current dividend yield based on the original reconstitution list. If the next ranked company is an acquisition target, then the index will select the next highest ranked company based on the original reconstitution list A replacement company will be added to the index at the same weight as the company that was removed from the index until the next rebalance or reconstitution date In the event a constituent suspends dividend payments, it will be replaced with the company with the highest current dividend yield based on the original reconstitution list at the next quarterly rebalance.