0001193125-12-134097.txt : 20120327 0001193125-12-134097.hdr.sgml : 20120327 20120327141929 ACCESSION NUMBER: 0001193125-12-134097 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20120327 DATE AS OF CHANGE: 20120327 EFFECTIVENESS DATE: 20120327 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Russell Exchange Traded Funds Trust CENTRAL INDEX KEY: 0001469030 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-160877 FILM NUMBER: 12716764 BUSINESS ADDRESS: STREET 1: 1301 SECOND AVENUE STREET 2: 18TH FLOOR CITY: SEATTLE STATE: WA ZIP: 98101 BUSINESS PHONE: 206-505-7877 MAIL ADDRESS: STREET 1: 1301 SECOND AVENUE STREET 2: 18TH FLOOR CITY: SEATTLE STATE: WA ZIP: 98101 FORMER COMPANY: FORMER CONFORMED NAME: U.S. One Trust DATE OF NAME CHANGE: 20090724 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Russell Exchange Traded Funds Trust CENTRAL INDEX KEY: 0001469030 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-22320 FILM NUMBER: 12716765 BUSINESS ADDRESS: STREET 1: 1301 SECOND AVENUE STREET 2: 18TH FLOOR CITY: SEATTLE STATE: WA ZIP: 98101 BUSINESS PHONE: 206-505-7877 MAIL ADDRESS: STREET 1: 1301 SECOND AVENUE STREET 2: 18TH FLOOR CITY: SEATTLE STATE: WA ZIP: 98101 FORMER COMPANY: FORMER CONFORMED NAME: U.S. One Trust DATE OF NAME CHANGE: 20090724 0001469030 S000036097 Russell High Dividend Yield ETF C000110457 Russell High Dividend Yield ETF 0001469030 S000036098 Russell Small Cap High Dividend Yield ETF C000110458 Russell Small Cap High Dividend Yield ETF 0001469030 S000036099 Russell International High Dividend Yield ETF C000110459 Russell International High Dividend Yield ETF 485BPOS 1 d306141d485bpos.htm FORM 485BPOS XBRL Form 485BPOS XBRL

Filed Pursuant to Rule 485(b)

Registration No. 333-160877

811-22320

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933    x    
  

Pre-Effective Amendment No.     

   ¨     
  

Post-Effective Amendment No. 45

   x    
   and   
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940    x    
  

Amendment No. 48

   x    

 

 

RUSSELL EXCHANGE TRADED FUNDS TRUST

(Exact Name of Registrant as Specified in Charter)

 

 

1301 Second Avenue, 18th Floor, Seattle, Washington 98101

(Address of Principal Executive Office)                         (ZIP Code)

Registrant’s Telephone Number, including area code: 206/505-7877

 

 

 

Mary Beth Rhoden

Russell Exchange Traded Funds Trust

1301 Second Avenue, 18th Floor

Seattle, Washington 98101

206-505-4846

 

John V. O’Hanlon

Dechert LLP

200 Clarendon Street, 27th Floor

Boston, Massachusetts 02116

617-728-7100

(Name and Address of Agent for Service)

 

 

Approximate date of commencement of proposed public offering: As soon as practical after the effective date of the Registration Statement.

It is proposed that this filing will become effective (check appropriate box)

 

  x immediately upon filing pursuant to paragraph (b)
  ¨ on             , pursuant to paragraph (b)
  ¨ 60 days after filing pursuant to paragraph (a)(1)
  ¨ on             , pursuant to paragraph (a)(1)
  ¨ 75 days after filing pursuant to paragraph (a)(2)
  ¨ on (date) pursuant to paragraph (a)(2) of rule 485.

If appropriate, check the following box:

 

  ¨ this post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant, Russell Exchange Traded Funds Trust, certifies that it meets all of the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) of the Securities Act of 1933. The Registrant has duly caused this Post-Effective Amendment No. 45 to its Registration Statement to be signed on its behalf by the undersigned thereto duly authorized, in the City of Seattle, and State of Washington, on this 27 day of March, 2012.

 

RUSSELL EXCHANGE TRADED FUNDS TRUST

                                     Registrant

By:                   *         
  James Polisson, President

/s/ Shelley Harding

*By Shelley Harding

Attorney-in-fact

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities indicated on March 27, 2012.

 

Signatures

     

Signatures

    *             *    

James Polisson, Trustee, President and

Chief Executive Officer

   

Mark E. Swanson, Treasurer and

Chief Accounting Officer

    *             *    
Evelyn S. Dilsaver, Trustee     Daniel O. Leemon, Trustee
    *             *    
Jane A. Freeman, Trustee     Ernest L. Schmider, Trustee
    *          
Lee T. Kranefuss, Trustee    

/s/ Shelley Harding

*By Shelley Harding

Attorney-in-fact

 

* Pursuant to Power of Attorney


Exhibit Index

 

Exhibit Index

  

Description of Exhibit

EX-101.INS    XBRL Instance Document
EX-101.SCH    XBRL Taxonomy Extension Schema Document
EX-101.CAL    XBRL Taxonomy Extension Calculation Linkbase
EX-101.DEF    XBRL Taxonomy Extension Definition Linkbase
EX-101.LAB    XBRL Taxonomy Extension Labels Linkbase
EX-101.PRE    XBRL Taxonomy Extension Presentation Linkbase
EX-101.INS 2 retft1469030-20120308.xml XBRL INSTANCE DOCUMENT 0001469030 retft1469030:S000036098Member retft1469030:C000110458Member 2011-03-09 2012-03-08 0001469030 retft1469030:S000036097Member retft1469030:C000110457Member 2011-03-09 2012-03-08 0001469030 retft1469030:S000036099Member retft1469030:C000110459Member 2011-03-09 2012-03-08 0001469030 retft1469030:S000036098Member 2011-03-09 2012-03-08 0001469030 retft1469030:S000036097Member 2011-03-09 2012-03-08 0001469030 retft1469030:S000036099Member 2011-03-09 2012-03-08 0001469030 2011-03-09 2012-03-08 iso4217:USD xbrli:pure false 2012-03-08 2012-03-08 2012-03-08 485BPOS 0001469030 Russell Exchange Traded Funds Trust <div>&lt;div style="display:none;"&gt;~ http://russelletfs.com/role/AnnualFundOperatingExpensesRussellInternationalHighDividendYieldEtf ~&lt;/div&gt;</div> <div>&lt;div style="display:none;"&gt;~ http://russelletfs.com/role/AnnualFundOperatingExpensesRussellHighDividendYieldEtf ~&lt;/div&gt;</div> <div>&lt;div style="display:none;"&gt;~ http://russelletfs.com/role/AnnualFundOperatingExpensesRussellSmallCapHighDividendYieldEtf ~&lt;/div&gt;</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Performance</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Performance</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Performance</i></div> 0.0000 0.0000 0.0000 <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Example</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Example</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Example</i></div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</div> <div>&lt;div style="display:none;"&gt;~ http://russelletfs.com/role/ExpenseExampleRussellHighDividendYieldEtf ~&lt;/div&gt;</div> <div>&lt;div style="display:none;"&gt;~ http://russelletfs.com/role/ExpenseExampleRussellSmallCapHighDividendYieldEtf ~&lt;/div&gt;</div> <div>&lt;div style="display:none;"&gt;~ http://russelletfs.com/role/ExpenseExampleRussellInternationalHighDividendYieldEtf ~&lt;/div&gt;</div> 49 39 34 122 154 106 <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Fees and Expenses of the Fund</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Fees and Expenses of the Fund</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Fees and Expenses of the Fund</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund&#8217;s shares.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund&#8217;s shares.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund&#8217;s shares.</div> 0.0033 0.0048 0.0038 0.0048 0.0038 0.0033 <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Investment Objective:</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Investment Objective:</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Investment Objective:</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund seeks investment results that closely correspond to the total return of the Russell Developed ex-U.S. Large Cap High Dividend Yield Index.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index.</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):</i></div> Other Expenses are based on estimated amounts for the current fiscal year. Other Expenses are based on estimated amounts for the current fiscal year. Other Expenses are based on estimated amounts for the current fiscal year. 0.0000 0.0000 0.0000 <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Portfolio Turnover</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Portfolio Turnover</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Portfolio Turnover</i></div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance.</div> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund&#8217;s performance. 2012-03-08 <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Principal Risks of Investing in the Fund</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Principal Risks of Investing in the Fund</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Principal Risks of Investing in the Fund</i></div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Passive Strategy/Index.</i> The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower or higher than if the Fund employed an active strategy.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Tracking Error.</i> While RIMCo seeks to track the performance of the Index as closely as possible (<i>i.e.</i>, achieve a high degree of correlation with the Index), the Fund&#8217;s return may not match or achieve a high degree of correlation with the return of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Equity Securities.</i> The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Market Trading Risks.</i> The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund&#8217;s shares trading at a premium or discount to net asset value.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>New Index Risk.</i> The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Non-Diversification Risk.</i> To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund&#8217;s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Concentration.</i> To the extent that the Fund&#8217;s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Non-U.S. Securities.</i> Non-U.S. securities have risks relating to political, economic and regulatory conditions in foreign countries.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Currency Risk.</i> Non-U.S. securities that trade in, and receive revenues in, non-U.S. currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, investments in non-U.S. dollar-denominated securities and currencies may reduce the returns of the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Government Intervention in and Regulation of Financial Markets.</i> Changes in government regulation may adversely affect the value of a security.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Market Volatility.</i> Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Forward Currency Contracts.</i> If forward prices increase, a loss will occur to the extent that the agreed upon purchase price of the currency exceeds the price of the currency that was agreed to be sold.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Counterparty Risk.</i> Counterparty risk is the risk that the other party(s) to an agreement or a participant to a transaction, such as a broker, might default on a contract or fail to perform by failing to pay amounts due or failing to fulfill the obligations of the contract or transaction.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Depositary Receipts.</i> Depositary receipts, which are securities traded on a local stock exchange that represent securities issued by a foreign publicly-listed company, are subject to the risks associated with the underlying developed ex-U.S. securities.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Liquidity Risk.</i> The market for certain investments may become illiquid under adverse or volatile market or economic conditions, making those investments difficult to sell. The market price of certain investments may fall dramatically if there is no liquid trading market.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Reliability of Data.</i> The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>High Dividend Yield Style.</i> While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Passive Strategy/Index.</i> The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower or higher than if the Fund employed an active strategy.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Tracking Error.</i> While RIMCo seeks to track the performance of the Index as closely as possible (<i>i.e.</i>, achieve a high degree of correlation with the Index), the Fund&#8217;s returns may not match or achieve a high degree of correlation with the returns of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Equity Securities.</i> The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Market Trading Risks.</i> The Fund faces numerous market trading risks, including the potential absence of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund&#8217;s shares trading at a premium or discount to net asset value.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>New Index Risk.</i> The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Non-Diversification Risk.</i> To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund&#8217;s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Concentration.</i> To the extent that the Fund&#8217;s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Government Intervention in and Regulation of Financial Markets.</i> Changes in government regulation may adversely affect the value of a security.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Market Volatility.</i> Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Reliability of Data.</i> The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>High Dividend Yield Style.</i> While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Passive Strategy/Index.</i>The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund&#8217;s return to be lower or higher than if the Fund employed an active strategy.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Tracking Error.</i> While RIMCo seeks to track the performance of the Index as closely as possible (<i>i.e.</i>, achieve a high degree of correlation with the Index), the Fund&#8217;s returns may not match or achieve a high degree of correlation with the returns of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Equity Securities.</i> The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions. Investments in small capitalization companies may involve greater risks because these companies generally have narrower markets, more limited managerial and financial resources and a less diversified product offering than larger, more established companies.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Small and Medium Capitalization Company Risk.</i> Investing in securities of small and medium capitalization companies involves greater risk than is customarily associated with investing in larger, more established companies. These companies&#8217; stocks may be more volatile and less liquid than those of more established companies and there may be increased trading and transaction costs associated with these securities. These stocks may have returns that vary, sometimes significantly, from the overall stock market. Often small and medium capitalization companies and the industries in which they are focused are still evolving and this may make them more sensitive to changing market conditions.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Market Trading Risks.</i> The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund&#8217;s shares trading at a premium or discount to net asset value.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>New Index Risk.</i> The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Concentration.</i> To the extent that the Fund&#8217;s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Government Intervention in and Regulation of Financial Markets.</i> Changes in government regulation may adversely affect the value of a security.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Market Volatility.</i> Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Reliability of Data.</i> The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>High Dividend Yield Style.</i> While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Non-Diversification Risk.</i> To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund&#8217;s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><i>Non-Diversification Risk.</i> To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund&#8217;s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</div> <div style="line-height: 16pt; font-family: Times New Roman; margin-top: 1%; font-size: 11pt; font-weight: bold">RUSSELL HIGH DIVIDEND YIELD ETF</div> <div style="line-height: 16pt; font-family: Times New Roman; margin-top: 1%; font-size: 11pt; font-weight: bold">RUSSELL SMALL CAP HIGH DIVIDEND YIELD ETF</div> <div style="line-height: 16pt; font-family: Times New Roman; margin-top: 1%; font-size: 11pt; font-weight: bold">RUSSELL INTERNATIONAL HIGH DIVIDEND YIELD ETF</div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Investments, Risks and Performance</div><div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Principal Investment Strategies of the Fund</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Investments, Risks and Performance</div><div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Principal Investment Strategies of the Fund</i></div> <div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold">Investments, Risks and Performance</div><div style="line-height: 11pt; font-family: Times New Roman; margin-bottom: 1.5%; font-size: 10pt; font-weight: bold"><i>Principal Investment Strategies of the Fund</i></div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index (the &#8220;Index&#8221;). The Fund&#8217;s investment adviser, Russell Investment Management Company (&#8220;RIMCo&#8221;), uses a &#8220;passive&#8221; or indexing approach to try to achieve the Fund&#8217;s investment objective. Unlike many investment companies, the Fund does not try to &#8220;beat&#8221; the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days&#8217; notice to its shareholders prior to a change in this policy. The Fund&#8217;s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i)&#160;purchase a sample of stocks in the Index; (ii)&#160;overweight another stock in the Index; (iii)&#160;purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv)&#160;utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Index is designed to select securities with high dividend yields. The Index includes securities in the Russell 2000<sup>&#174;</sup> Index (an index comprised of U.S. small capitalization securities) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Index is sponsored by Frank Russell Company (&#8220;Russell&#8221; or the &#8220;Index Provider&#8221;), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the &#8220;Index Provider&#8221; section of the Fund&#8217;s Prospectus.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Tracking Error.</i></b> An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund&#8217;s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. &#8220;Tracking error&#8221; is the difference between the performance (return) of the Fund&#8217;s portfolio and that of its Index. RIMCo expects that, over time, the Fund&#8217;s tracking error will not exceed 5%.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Industry Concentration Policy.</i></b> The Fund will concentrate its investments (<i>i.e.</i>, hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index (the &#8220;Index&#8221;). The Fund&#8217;s investment adviser, Russell Investment Management Company (&#8220;RIMCo&#8221;), uses a &#8220;passive&#8221; or indexing approach to try to achieve the Fund&#8217;s investment objective. Unlike many investment companies, the Fund does not try to &#8220;beat&#8221; the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days&#8217; notice to its shareholders prior to a change in this policy. The Fund&#8217;s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Index is designed to select securities with high dividend yields. The Index includes securities in the Russell 1000<sup>&#174;</sup> Index (an index comprised of U.S. large capitalization securities) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Index is sponsored by Frank Russell Company (&#8220;Russell&#8221; or the &#8220;Index Provider&#8221;), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the &#8220;Index Provider&#8221; section of the Fund&#8217;s Prospectus.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Tracking Error.</i></b> An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund&#8217;s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. &#8220;Tracking error&#8221; is the difference between the performance (return) of the Fund&#8217;s portfolio and that of its Index. RIMCo expects that, over time, the Fund&#8217;s tracking error will not exceed 5%.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Industry Concentration Policy.</i></b> The Fund will concentrate its investments (<i>i.e.</i>, hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Non-diversification Policy.</i></b> The Fund is a &#8220;non-diversified&#8221; investment company for purposes of the Investment Company Act of 1940 because it invests in the securities of a limited number of issuers.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell Developed ex-U.S. Large Cap High Dividend Yield Index (the &#8220;Index&#8221;). The Fund&#8217;s investment adviser, Russell Investment Management Company (&#8220;RIMCo&#8221;), uses a &#8220;passive&#8221; or indexing approach to try to achieve the Fund&#8217;s investment objective. Unlike many investment companies, the Fund does not try to &#8220;beat&#8221; the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days&#8217; notice to its shareholders prior to a change in this policy. The Fund&#8217;s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i)&#160;purchase a sample of stocks in the Index; (ii)&#160;overweight another stock in the Index; (iii)&#160;purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv)&#160;utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund may purchase depositary receipts where American Depositary Receipts (&#8220;ADRs&#8221;), Global Depositary Receipts (&#8220;GDRs&#8221;) and European Depositary Receipts (&#8220;EDRs&#8221;) provide better access to markets and more liquidity than the underlying security. An ADR is a stock that trades in the U.S. but represents shares in a non-U.S. company. A GDR is a stock that trades in one or more global markets but represents shares of a company domiciled in a different country. An EDR is issued in Europe, typically by foreign banks and trust companies, and evidences ownership of either foreign or domestic securities. The Fund will invest primarily in sponsored ADRs, GDRs and EDRs, but may also invest in unsponsored ADRs, GDRs and EDRs.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Fund does not hedge its exposure to foreign currencies beyond using forward foreign currency contracts to lock in exchange rates for the portfolio securities purchased or sold, but awaiting settlement. These transactions establish a rate of exchange that can be expected to be received upon settlement of the securities.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Index is designed to select securities with high dividend yields. The Index evaluates securities in the Russell Developed ex-U.S. Large Cap Index (an index comprised of the large-cap segment of the developed equity market excluding the U.S.) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica">The Index is sponsored by Frank Russell Company (&#8220;Russell&#8221; or the &#8220;Index Provider&#8221;), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the &#8220;Index Provider&#8221; section of the Fund&#8217;s Prospectus.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Tracking Error.</i></b> An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund&#8217;s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. &#8220;Tracking error&#8221; is the difference between the performance (return) of the Fund&#8217;s portfolio and that of its Index. RIMCo expects that, over time, the Fund&#8217;s tracking error will not exceed 5%.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Industry Concentration Policy.</i></b> The Fund will concentrate its investments (<i>i.e.</i>, hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Non-diversification Policy.</i></b> The Fund is a &#8220;non-diversified&#8221; investment company for purposes of the Investment Company Act of 1940 because it invests in the securities of a limited number of issuers.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Industry Concentration Policy.</i></b> The Fund will concentrate its investments (<i>i.e.</i>, hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Industry Concentration Policy.</i></b> The Fund will concentrate its investments (<i>i.e.</i>, hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.</div> <div style="text-indent: 3%; margin-top: 5pt; font-size: 8pt; font-family:helvetica"><b><i>Industry Concentration Policy.</i></b> The Fund will concentrate its investments (<i>i.e.</i>, hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.</div> The Fund has adopted a Distribution (12b-1) Plan pursuant to which the Fund may bear a 12b-1 fee. No such fee is currently paid by the Fund. The Fund will not pay a 12b-1 fee for the first twelve months of the Fund's operation and will not pay such a fee until such time as authorized by the Board of Trustees. Other Expenses are based on estimated amounts for the current fiscal year. 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Russell Small Cap High Dividend Yield ETF
RUSSELL SMALL CAP HIGH DIVIDEND YIELD ETF
Investment Objective:
The Fund seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index.
Fees and Expenses of the Fund
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund’s shares.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses
Russell Small Cap High Dividend Yield ETF
Management Fee 0.38%
Distribution (12b-1) Fees [1] none
Other Expenses [2] none
Total Annual Fund Operating Expenses 0.38%
[1] The Fund has adopted a Distribution (12b-1) Plan pursuant to which the Fund may bear a 12b-1 fee. No such fee is currently paid by the Fund. The Fund will not pay a 12b-1 fee for the first twelve months of the Fund's operation and will not pay such a fee until such time as authorized by the Board of Trustees.
[2] Other Expenses are based on estimated amounts for the current fiscal year.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example (USD $)
1 Year
3 Years
Russell Small Cap High Dividend Yield ETF
39 122
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.
Investments, Risks and Performance
Principal Investment Strategies of the Fund
The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index (the “Index”). The Fund’s investment adviser, Russell Investment Management Company (“RIMCo”), uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days’ notice to its shareholders prior to a change in this policy. The Fund’s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.
RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.
The Index is designed to select securities with high dividend yields. The Index includes securities in the Russell 2000® Index (an index comprised of U.S. small capitalization securities) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.
Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.
The Index is sponsored by Frank Russell Company (“Russell” or the “Index Provider”), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the “Index Provider” section of the Fund’s Prospectus.
Tracking Error. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund’s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. “Tracking error” is the difference between the performance (return) of the Fund’s portfolio and that of its Index. RIMCo expects that, over time, the Fund’s tracking error will not exceed 5%.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Principal Risks of Investing in the Fund
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Passive Strategy/Index.The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund’s return to be lower or higher than if the Fund employed an active strategy.
Tracking Error. While RIMCo seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund’s returns may not match or achieve a high degree of correlation with the returns of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.
Equity Securities. The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions. Investments in small capitalization companies may involve greater risks because these companies generally have narrower markets, more limited managerial and financial resources and a less diversified product offering than larger, more established companies.
Small and Medium Capitalization Company Risk. Investing in securities of small and medium capitalization companies involves greater risk than is customarily associated with investing in larger, more established companies. These companies’ stocks may be more volatile and less liquid than those of more established companies and there may be increased trading and transaction costs associated with these securities. These stocks may have returns that vary, sometimes significantly, from the overall stock market. Often small and medium capitalization companies and the industries in which they are focused are still evolving and this may make them more sensitive to changing market conditions.
Market Trading Risks. The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund’s shares trading at a premium or discount to net asset value.
New Index Risk. The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.
Concentration. To the extent that the Fund’s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Government Intervention in and Regulation of Financial Markets. Changes in government regulation may adversely affect the value of a security.
Market Volatility. Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.
Reliability of Data. The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.
High Dividend Yield Style. While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Performance
Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
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XML 13 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Russell International High Dividend Yield ETF
RUSSELL INTERNATIONAL HIGH DIVIDEND YIELD ETF
Investment Objective:
The Fund seeks investment results that closely correspond to the total return of the Russell Developed ex-U.S. Large Cap High Dividend Yield Index.
Fees and Expenses of the Fund
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund’s shares.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses
Russell International High Dividend Yield ETF
Management Fee 0.48%
Distribution (12b-1) Fees [1] none
Other Expenses [2] none
Total Annual Fund Operating Expenses 0.48%
[1] The Fund has adopted a Distribution (12b-1) Plan pursuant to which the Fund may bear a 12b-1 fee. No such fee is currently paid by the Fund. The Fund will not pay a 12b-1 fee for the first twelve months of the Fund's operation and will not pay such a fee until such time as authorized by the Board of Trustees.
[2] Other Expenses are based on estimated amounts for the current fiscal year.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example (USD $)
1 Year
3 Years
Russell International High Dividend Yield ETF
49 154
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.
Investments, Risks and Performance
Principal Investment Strategies of the Fund
The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell Developed ex-U.S. Large Cap High Dividend Yield Index (the “Index”). The Fund’s investment adviser, Russell Investment Management Company (“RIMCo”), uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days’ notice to its shareholders prior to a change in this policy. The Fund’s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.
RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.
The Fund may purchase depositary receipts where American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and European Depositary Receipts (“EDRs”) provide better access to markets and more liquidity than the underlying security. An ADR is a stock that trades in the U.S. but represents shares in a non-U.S. company. A GDR is a stock that trades in one or more global markets but represents shares of a company domiciled in a different country. An EDR is issued in Europe, typically by foreign banks and trust companies, and evidences ownership of either foreign or domestic securities. The Fund will invest primarily in sponsored ADRs, GDRs and EDRs, but may also invest in unsponsored ADRs, GDRs and EDRs.
The Fund does not hedge its exposure to foreign currencies beyond using forward foreign currency contracts to lock in exchange rates for the portfolio securities purchased or sold, but awaiting settlement. These transactions establish a rate of exchange that can be expected to be received upon settlement of the securities.
The Index is designed to select securities with high dividend yields. The Index evaluates securities in the Russell Developed ex-U.S. Large Cap Index (an index comprised of the large-cap segment of the developed equity market excluding the U.S.) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.
Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.
The Index is sponsored by Frank Russell Company (“Russell” or the “Index Provider”), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the “Index Provider” section of the Fund’s Prospectus.
Tracking Error. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund’s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. “Tracking error” is the difference between the performance (return) of the Fund’s portfolio and that of its Index. RIMCo expects that, over time, the Fund’s tracking error will not exceed 5%.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Non-diversification Policy. The Fund is a “non-diversified” investment company for purposes of the Investment Company Act of 1940 because it invests in the securities of a limited number of issuers.
Principal Risks of Investing in the Fund
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Passive Strategy/Index. The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund’s return to be lower or higher than if the Fund employed an active strategy.
Tracking Error. While RIMCo seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund’s return may not match or achieve a high degree of correlation with the return of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.
Equity Securities. The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions.
Market Trading Risks. The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund’s shares trading at a premium or discount to net asset value.
New Index Risk. The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.
Non-Diversification Risk. To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund’s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.
Concentration. To the extent that the Fund’s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Non-U.S. Securities. Non-U.S. securities have risks relating to political, economic and regulatory conditions in foreign countries.
Currency Risk. Non-U.S. securities that trade in, and receive revenues in, non-U.S. currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, investments in non-U.S. dollar-denominated securities and currencies may reduce the returns of the Fund.
Government Intervention in and Regulation of Financial Markets. Changes in government regulation may adversely affect the value of a security.
Market Volatility. Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.
Forward Currency Contracts. If forward prices increase, a loss will occur to the extent that the agreed upon purchase price of the currency exceeds the price of the currency that was agreed to be sold.
Counterparty Risk. Counterparty risk is the risk that the other party(s) to an agreement or a participant to a transaction, such as a broker, might default on a contract or fail to perform by failing to pay amounts due or failing to fulfill the obligations of the contract or transaction.
Depositary Receipts. Depositary receipts, which are securities traded on a local stock exchange that represent securities issued by a foreign publicly-listed company, are subject to the risks associated with the underlying developed ex-U.S. securities.
Liquidity Risk. The market for certain investments may become illiquid under adverse or volatile market or economic conditions, making those investments difficult to sell. The market price of certain investments may fall dramatically if there is no liquid trading market.
Reliability of Data. The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.
High Dividend Yield Style. While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Performance
Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
XML 14 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Russell High Dividend Yield ETF
RUSSELL HIGH DIVIDEND YIELD ETF
Investment Objective:
The Fund seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index.
Fees and Expenses of the Fund
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund’s shares.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Annual Fund Operating Expenses
Russell High Dividend Yield ETF
Management Fee 0.33%
Distribution (12b-1) Fees [1] none
Other Expenses [2] none
Total Annual Fund Operating Expenses 0.33%
[1] The Fund has adopted a Distribution (12b-1) Plan pursuant to which the Fund may bear a 12b-1 fee. No such fee is currently paid by the Fund. The Fund will not pay a 12b-1 fee for the first twelve months of the Fund's operation and will not pay such a fee until such time as authorized by the Board of Trustees.
[2] Other Expenses are based on estimated amounts for the current fiscal year.
Example
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Expense Example (USD $)
1 Year
3 Years
Russell High Dividend Yield ETF
34 106
Portfolio Turnover
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.
Investments, Risks and Performance
Principal Investment Strategies of the Fund
The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index (the “Index”). The Fund’s investment adviser, Russell Investment Management Company (“RIMCo”), uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days’ notice to its shareholders prior to a change in this policy. The Fund’s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.
RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.
The Index is designed to select securities with high dividend yields. The Index includes securities in the Russell 1000® Index (an index comprised of U.S. large capitalization securities) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.
Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.
The Index is sponsored by Frank Russell Company (“Russell” or the “Index Provider”), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the “Index Provider” section of the Fund’s Prospectus.
Tracking Error. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund’s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. “Tracking error” is the difference between the performance (return) of the Fund’s portfolio and that of its Index. RIMCo expects that, over time, the Fund’s tracking error will not exceed 5%.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Non-diversification Policy. The Fund is a “non-diversified” investment company for purposes of the Investment Company Act of 1940 because it invests in the securities of a limited number of issuers.
Principal Risks of Investing in the Fund
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Passive Strategy/Index. The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund’s return to be lower or higher than if the Fund employed an active strategy.
Tracking Error. While RIMCo seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund’s returns may not match or achieve a high degree of correlation with the returns of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.
Equity Securities. The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions.
Market Trading Risks. The Fund faces numerous market trading risks, including the potential absence of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund’s shares trading at a premium or discount to net asset value.
New Index Risk. The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.
Non-Diversification Risk. To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund’s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.
Concentration. To the extent that the Fund’s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Government Intervention in and Regulation of Financial Markets. Changes in government regulation may adversely affect the value of a security.
Market Volatility. Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.
Reliability of Data. The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.
High Dividend Yield Style. While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Performance
Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
XML 15 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Mar. 08, 2012
Registrant Name dei_EntityRegistrantName Russell Exchange Traded Funds Trust
Central Index Key dei_EntityCentralIndexKey 0001469030
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Mar. 08, 2012
Document Effective Date dei_DocumentEffectiveDate Mar. 08, 2012
Prospectus Date rr_ProspectusDate Mar. 08, 2012
Russell High Dividend Yield ETF
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
RUSSELL HIGH DIVIDEND YIELD ETF
Objective [Heading] rr_ObjectiveHeading
Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Fund seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index.
Expense [Heading] rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund’s shares.
Operating Expenses: rr_OperatingExpensesAbstract  
Operating Expenses Caption [Text] rr_OperatingExpensesCaption
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Other Expenses are based on estimated amounts for the current fiscal year.
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.
Expense Example: rr_ExpenseExampleAbstract  
Expense Example [Heading] rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading
Investments, Risks and Performance
Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell U.S. Large Cap High Dividend Yield Index (the “Index”). The Fund’s investment adviser, Russell Investment Management Company (“RIMCo”), uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days’ notice to its shareholders prior to a change in this policy. The Fund’s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.
RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.
The Index is designed to select securities with high dividend yields. The Index includes securities in the Russell 1000® Index (an index comprised of U.S. large capitalization securities) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.
Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.
The Index is sponsored by Frank Russell Company (“Russell” or the “Index Provider”), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the “Index Provider” section of the Fund’s Prospectus.
Tracking Error. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund’s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. “Tracking error” is the difference between the performance (return) of the Fund’s portfolio and that of its Index. RIMCo expects that, over time, the Fund’s tracking error will not exceed 5%.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Non-diversification Policy. The Fund is a “non-diversified” investment company for purposes of the Investment Company Act of 1940 because it invests in the securities of a limited number of issuers.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Risk [Heading] rr_RiskHeading
Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Passive Strategy/Index. The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund’s return to be lower or higher than if the Fund employed an active strategy.
Tracking Error. While RIMCo seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund’s returns may not match or achieve a high degree of correlation with the returns of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.
Equity Securities. The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions.
Market Trading Risks. The Fund faces numerous market trading risks, including the potential absence of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund’s shares trading at a premium or discount to net asset value.
New Index Risk. The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.
Non-Diversification Risk. To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund’s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.
Concentration. To the extent that the Fund’s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Government Intervention in and Regulation of Financial Markets. Changes in government regulation may adversely affect the value of a security.
Market Volatility. Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.
Reliability of Data. The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.
High Dividend Yield Style. While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
Non-Diversification Risk. To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund’s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess
Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
Russell High Dividend Yield ETF | Russell High Dividend Yield ETF
 
Operating Expenses: rr_OperatingExpensesAbstract  
Management Fee rr_ManagementFeesOverAssets 0.33%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets none [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.33%
Expense Example: rr_ExpenseExampleAbstract  
1 Year rr_ExpenseExampleYear01 34
3 Years rr_ExpenseExampleYear03 106
Russell Small Cap High Dividend Yield ETF
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
RUSSELL SMALL CAP HIGH DIVIDEND YIELD ETF
Objective [Heading] rr_ObjectiveHeading
Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Fund seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index.
Expense [Heading] rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund’s shares.
Operating Expenses: rr_OperatingExpensesAbstract  
Operating Expenses Caption [Text] rr_OperatingExpensesCaption
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Other Expenses are based on estimated amounts for the current fiscal year.
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.
Expense Example: rr_ExpenseExampleAbstract  
Expense Example [Heading] rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading
Investments, Risks and Performance
Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell U.S. Small Cap High Dividend Yield Index (the “Index”). The Fund’s investment adviser, Russell Investment Management Company (“RIMCo”), uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days’ notice to its shareholders prior to a change in this policy. The Fund’s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.
RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.
The Index is designed to select securities with high dividend yields. The Index includes securities in the Russell 2000® Index (an index comprised of U.S. small capitalization securities) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.
Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.
The Index is sponsored by Frank Russell Company (“Russell” or the “Index Provider”), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the “Index Provider” section of the Fund’s Prospectus.
Tracking Error. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund’s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. “Tracking error” is the difference between the performance (return) of the Fund’s portfolio and that of its Index. RIMCo expects that, over time, the Fund’s tracking error will not exceed 5%.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Risk [Heading] rr_RiskHeading
Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Passive Strategy/Index.The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund’s return to be lower or higher than if the Fund employed an active strategy.
Tracking Error. While RIMCo seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund’s returns may not match or achieve a high degree of correlation with the returns of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.
Equity Securities. The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions. Investments in small capitalization companies may involve greater risks because these companies generally have narrower markets, more limited managerial and financial resources and a less diversified product offering than larger, more established companies.
Small and Medium Capitalization Company Risk. Investing in securities of small and medium capitalization companies involves greater risk than is customarily associated with investing in larger, more established companies. These companies’ stocks may be more volatile and less liquid than those of more established companies and there may be increased trading and transaction costs associated with these securities. These stocks may have returns that vary, sometimes significantly, from the overall stock market. Often small and medium capitalization companies and the industries in which they are focused are still evolving and this may make them more sensitive to changing market conditions.
Market Trading Risks. The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund’s shares trading at a premium or discount to net asset value.
New Index Risk. The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.
Concentration. To the extent that the Fund’s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Government Intervention in and Regulation of Financial Markets. Changes in government regulation may adversely affect the value of a security.
Market Volatility. Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.
Reliability of Data. The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.
High Dividend Yield Style. While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess
Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
Russell Small Cap High Dividend Yield ETF | Russell Small Cap High Dividend Yield ETF
 
Operating Expenses: rr_OperatingExpensesAbstract  
Management Fee rr_ManagementFeesOverAssets 0.38%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets none [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.38%
Expense Example: rr_ExpenseExampleAbstract  
1 Year rr_ExpenseExampleYear01 39
3 Years rr_ExpenseExampleYear03 122
Russell International High Dividend Yield ETF
 
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading
RUSSELL INTERNATIONAL HIGH DIVIDEND YIELD ETF
Objective [Heading] rr_ObjectiveHeading
Investment Objective:
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock
The Fund seeks investment results that closely correspond to the total return of the Russell Developed ex-U.S. Large Cap High Dividend Yield Index.
Expense [Heading] rr_ExpenseHeading
Fees and Expenses of the Fund
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock
The following table describes the fees and expenses that you may pay if you buy and hold shares of the Fund, other than brokerage commissions you may pay on purchases and sales of the Fund’s shares.
Operating Expenses: rr_OperatingExpensesAbstract  
Operating Expenses Caption [Text] rr_OperatingExpensesCaption
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment):
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates Other Expenses are based on estimated amounts for the current fiscal year.
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading
Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance.
Expense Example: rr_ExpenseExampleAbstract  
Expense Example [Heading] rr_ExpenseExampleHeading
Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock
This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.
The example assumes that you invest $10,000 in the Fund for the time periods indicated, and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Investors may pay brokerage commissions on their purchases and sales of Fund Shares, which are not reflected in the example. Although your actual costs may be higher or lower, based on these assumptions your costs would be:
Strategy [Heading] rr_StrategyHeading
Investments, Risks and Performance
Principal Investment Strategies of the Fund
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock
The Fund is an index-based exchange-traded fund that seeks investment results that closely correspond to the total return of the Russell Developed ex-U.S. Large Cap High Dividend Yield Index (the “Index”). The Fund’s investment adviser, Russell Investment Management Company (“RIMCo”), uses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies, the Fund does not try to “beat” the Index it tracks and does not seek temporary defensive positions when markets decline or appear overvalued. The Fund will normally invest at least 80% of its total assets in securities that comprise the Index. The Fund is required to provide 60 days’ notice to its shareholders prior to a change in this policy. The Fund’s investment objective and the index upon which the Fund seeks to track its performance may be changed without shareholder approval.
RIMCo, using a replication strategy, generally invests in all of the stocks comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of those stocks in those weightings due to, for example, limited liquidity in the market for a particular stock. In those circumstances, the Fund may (i) purchase a sample of stocks in the Index; (ii) overweight another stock in the Index; (iii) purchase securities not in the Index which RIMCo believes are appropriate to substitute for certain securities in the Index; or (iv) utilize various combinations of the foregoing, or other available investment techniques, in seeking to track the Index. The Fund may sell stocks that are represented in the Index in anticipation of their removal from the Index or purchase stocks not represented in the Index in anticipation of their addition to the Index.
The Fund may purchase depositary receipts where American Depositary Receipts (“ADRs”), Global Depositary Receipts (“GDRs”) and European Depositary Receipts (“EDRs”) provide better access to markets and more liquidity than the underlying security. An ADR is a stock that trades in the U.S. but represents shares in a non-U.S. company. A GDR is a stock that trades in one or more global markets but represents shares of a company domiciled in a different country. An EDR is issued in Europe, typically by foreign banks and trust companies, and evidences ownership of either foreign or domestic securities. The Fund will invest primarily in sponsored ADRs, GDRs and EDRs, but may also invest in unsponsored ADRs, GDRs and EDRs.
The Fund does not hedge its exposure to foreign currencies beyond using forward foreign currency contracts to lock in exchange rates for the portfolio securities purchased or sold, but awaiting settlement. These transactions establish a rate of exchange that can be expected to be received upon settlement of the securities.
The Index is designed to select securities with high dividend yields. The Index evaluates securities in the Russell Developed ex-U.S. Large Cap Index (an index comprised of the large-cap segment of the developed equity market excluding the U.S.) with high dividend yields and quality characteristics such as dividend growth, earnings stability and sustained profitability. The Index is market-cap weighted and reconstituted quarterly.
Indexing may reduce the chance that the Fund will substantially outperform its Index but also may reduce some of the risks of active management, such as security selection.
The Index is sponsored by Frank Russell Company (“Russell” or the “Index Provider”), an affiliate of the Fund and RIMCo. The Index Provider determines the composition and relative weightings of the securities in the Index and publishes information regarding the market value of the Index. Additional information regarding the Index Provider is provided in the “Index Provider” section of the Fund’s Prospectus.
Tracking Error. An index is a theoretical financial calculation, while the Fund is an actual investment portfolio. The performance of the Fund and its Index may vary due to transaction costs, foreign currency valuation, asset valuations, corporate actions (such as mergers and spin-offs), timing variances, and differences between the Fund’s portfolio and the Index resulting from legal restrictions (such as diversification requirements) that apply to the Fund but not to the Index. “Tracking error” is the difference between the performance (return) of the Fund’s portfolio and that of its Index. RIMCo expects that, over time, the Fund’s tracking error will not exceed 5%.
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Non-diversification Policy. The Fund is a “non-diversified” investment company for purposes of the Investment Company Act of 1940 because it invests in the securities of a limited number of issuers.
Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration
Industry Concentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its Index is concentrated. For purposes of this policy, securities of the U.S. government (including its agencies and instrumentalities) and repurchase agreements collateralized by U.S. government securities are not considered to be issued by members of any industry.
Risk [Heading] rr_RiskHeading
Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Passive Strategy/Index. The Fund is managed with a passive investment strategy, attempting to track the performance of an unmanaged index of securities. This differs from an actively managed fund, which typically seeks to outperform a benchmark index. As a result, the Fund may hold constituent securities of the Index regardless of the current or projected performance of a specific security or a particular industry, market sector, country or currency. Maintaining investments in securities regardless of market conditions or the performance of individual securities could cause the Fund’s return to be lower or higher than if the Fund employed an active strategy.
Tracking Error. While RIMCo seeks to track the performance of the Index as closely as possible (i.e., achieve a high degree of correlation with the Index), the Fund’s return may not match or achieve a high degree of correlation with the return of the Index due to security mismatches, operating expenses, transaction costs, cash flows and operational inefficiencies. For example, RIMCo anticipates that, under normal market conditions, it may take approximately five business days for additions and deletions to the Index to be reflected in the portfolio composition of the Fund.
Equity Securities. The value of equity securities will rise and fall in response to the activities of the company that issued them, general market conditions and/or economic conditions.
Market Trading Risks. The Fund faces numerous market trading risks, including the potential lack of an active market for Fund shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Fund’s shares trading at a premium or discount to net asset value.
New Index Risk. The Index is new and has a limited performance history. It is possible that a new index may experience errors in its construction.
Non-Diversification Risk. To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund’s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.
Concentration. To the extent that the Fund’s portfolio is concentrated in the securities of companies in a particular market, industry, group of industries, sector or asset class, the Fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Non-U.S. Securities. Non-U.S. securities have risks relating to political, economic and regulatory conditions in foreign countries.
Currency Risk. Non-U.S. securities that trade in, and receive revenues in, non-U.S. currencies are subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged. As a result, investments in non-U.S. dollar-denominated securities and currencies may reduce the returns of the Fund.
Government Intervention in and Regulation of Financial Markets. Changes in government regulation may adversely affect the value of a security.
Market Volatility. Volatile financial markets can result in greater market and liquidity risk and potential difficulty in valuing portfolio instruments.
Forward Currency Contracts. If forward prices increase, a loss will occur to the extent that the agreed upon purchase price of the currency exceeds the price of the currency that was agreed to be sold.
Counterparty Risk. Counterparty risk is the risk that the other party(s) to an agreement or a participant to a transaction, such as a broker, might default on a contract or fail to perform by failing to pay amounts due or failing to fulfill the obligations of the contract or transaction.
Depositary Receipts. Depositary receipts, which are securities traded on a local stock exchange that represent securities issued by a foreign publicly-listed company, are subject to the risks associated with the underlying developed ex-U.S. securities.
Liquidity Risk. The market for certain investments may become illiquid under adverse or volatile market or economic conditions, making those investments difficult to sell. The market price of certain investments may fall dramatically if there is no liquid trading market.
Reliability of Data. The Index is constructed by selecting securities that exhibit specific traits. Many of the traits that are considered are derived through publicly available financial or accounting information. To the extent that a company reports inaccurate or fraudulent financial statements, the Index will be constructed based on this incorrect data. As such, the Index could contain companies not exhibiting the specific trait. Since it is seeking to track the Index, the Fund would also be susceptible to this risk.
High Dividend Yield Style. While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may perform worse than other investment strategies or the overall stock market.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney
As with all investments, there are certain risks of investing in the Fund, and you could lose money on an investment in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus
Non-Diversification Risk. To the extent the Fund invests a relatively high percentage of its assets in the securities of a single issuer or group of issuers, the Fund’s performance will be more vulnerable to changes in the market value of that single issuer or group of issuers, and more susceptible to risks associated with a single economic, political or regulatory occurrence.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading
Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock
Because the Fund is new, performance history and average annual returns for the Fund are not included in this Prospectus. Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess
Performance history and average annual returns for the Fund will be available after the Fund has been in operation for one calendar year.
Russell International High Dividend Yield ETF | Russell International High Dividend Yield ETF
 
Operating Expenses: rr_OperatingExpensesAbstract  
Management Fee rr_ManagementFeesOverAssets 0.48%
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets none [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.48%
Expense Example: rr_ExpenseExampleAbstract  
1 Year rr_ExpenseExampleYear01 49
3 Years rr_ExpenseExampleYear03 154
[1] The Fund has adopted a Distribution (12b-1) Plan pursuant to which the Fund may bear a 12b-1 fee. No such fee is currently paid by the Fund. The Fund will not pay a 12b-1 fee for the first twelve months of the Fund's operation and will not pay such a fee until such time as authorized by the Board of Trustees.
[2] Other Expenses are based on estimated amounts for the current fiscal year.
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