Legg Mason Developed ex-US Diversified Core ETF seeks to track the investment results of an index composed of publicly traded equity securities of developed markets outside the United States. The QS DBI Developed ex-US Diversified Index (the Index ) seeks to provide exposure to equity markets in developed countries outside the United States and is based on a proprietary methodology created and sponsored by QS Investors, LLC ( QS ). The Index is composed of equity securities in developed markets outside the United States that are included in the MSCI World ex-US Index. The proprietary rules-based process initially groups this universe of securities into multiple investment categories based on geography and sector. Within each of these investment categories, securities are weighted by market capitalization. The process then combines those investment categories with more highly correlated historical performance into a smaller number of clusters. A cluster is a group of investment categories based on geography and sector that have demonstrated a tendency to behave similarly (high correlation). Thereafter, each of these clusters is equally weighted in the Index to produce a highly diversified portfolio. QS anticipates that the number of component securities in the Index will range from 900 to 1,000 from approximately 20 countries, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, the Netherlands, Norway, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. The Index may include large, medium and small capitalization companies. The components of the Index, and the degree to which these components represent certain countries and sectors, may change over time. The Index s components are reconstituted annually and rebalanced quarterly.