< Disclaimer for the English Overview of
the Delivery Prospectus of
Listed Index Fund US Equity (Dow Average)
Currency Hedge/ No Currency Hedge >This document provides an overview of the Japanese “Summary Prospectus” (the “Delivery
Prospectus”) of Listed Index Fund US Equity (Dow Average) Currency Hedge/ No Currency
Hedge (the “Fund”) in English. The Japanese Delivery Prospectus is the offering document.
This document in English is not required by law or any regulation.
While every effort has been made to ensure the accuracy or completeness of the content of
this document, Nikko Asset Management Co., Ltd. cannot guarantee the accuracy orcompleteness as differences of interpretation may arise between the English and Japanese
languages. In the event of any inconsistency between this document in English and theJapanese version, the Japanese version shall prevail, except to the extent prohibited by theapplicable law of any jurisdiction where the units of the Fund are sold. In addition, this document
is not a translation of the entire Delivery Prospectus, but an English overview of the Delivery
Prospectus, which means that some of the information in the Delivery Prospectus has been
simplified, modified, or omitted.
Except as otherwise indicated herein, this material is based on the most recent Japaneseversion of the Delivery Prospectus. In case of any update to or modification of the Japaneseversion of the terms and conditions, there is no guarantee that a corresponding update or
modification will be made to this English document.
This English overview of the Delivery Prospectus has been prepared by Nikko AssetManagement Co., Ltd. for English speaking investors for information purposes. Investors
should not subscribe for these securities solely relying on this document, as this is not a fulltranslation of the original Delivery Prospectus. As this English document may differ from theJapanese Delivery Prospectus as explained above, this document does not contain orconstitute, and should not be relied upon as an offer or invitation to make an offer for thepurchase of these securities (including units of the Fund) to any person or entity in any
jurisdiction.
Neither this material nor any part hereof may be reproduced, transmitted, reprinted, or
redistributed without the prior written authorization of Nikko Asset Management Co., Ltd.

Explanatory Booklet on the Investment Trusts(English Overview of the Delivery Prospectus)
April 9, 2024

Listed Index Fund US Equity(Dow Average) Currency Hedge/ No Currency Hedge
Nickname: JoJo US Equity (Dow Average)
Currency Hedge/ No Currency Hedge
Open-end investment trust, Overseas, Equities, ETF, Index-type
This document is not a translation of the entire Delivery Prospectus, but an English overview
of the Delivery Prospectus, which means that some of the information in the Delivery
Prospectus has been simplified, modified, or omitted.
●This prospectus is published pursuant to the provisions of Article 13 of the Financial Instruments
and Exchange Act (No. 25 of 1948).
Please read this document carefully before deciding to subscribe to units of the Fund.
●The prospectus for the Fund provided under Article 15, Paragraph 3 of the Financial Instruments
and Exchange Act (hereinafter referred to as the "Prospectus Issued upon Request") can be reador downloaded from the website of the Management Company. You can also obtain a copy of theProspectus Issued upon Request from a Distributor. If you do so, please make a personal record to that effect.
●This document includes the main contents outlined in the trust deeds. The complete text of the trust deeds
is provided in the Prospectus Issued upon Request.
●For information on the NAV or Distributors of the Fund, please contact the Management Company.
Management Company (the party issuing investment instructions for the Fund)
Nikko Asset Management Co., Ltd.
Registration Number: Director of the Kanto Local Financial Bureau (Financial instruments firms) No. 368
Website: www.nikkoam.com/+813-6447-6653 (9 a.m.-5 p.m., excluding Saturdays, Sundays and public holidays)
Trustee (the party responsible for custody and management of Fund assets)
Sumitomo Mitsui Trust Bank, Limited

Nikko Asset Management Co., Ltd.
Established and managed by

Nikko Asset Management Co., Ltd.

When a significant amendment is made to the content of the Fund, we will confirm the intentionof investors (beneficiaries) in advance under the Act on Investment Trust and Investment
Corporations (No. 198 of 1951).

The Fund assets are classified and managed by the Trustee under the Trust Act (No. 108 of 2006).



In connection with the invitation for subscription to Listed Index Fund US Equity (Dow Average)
Currency Hedge and Listed Index Fund US Equity (Dow Average) No Currency Hedge, which isextended by way of this prospectus, the Management Company filed securities registration
statements with the Director-General, Kanto Local Finance Bureau on April 8, 2024 pursuant to theprovisions of Article 5 of the Financial Instruments and Exchange Act. These filings became
effective on the next business day after the filing date.

Product Classification
Unit-Type
Open-end

Eligible
Independent
Eligible Market Investments
Segment
Source of Income
nvestment Type

Segmentation by AttributeSupplementa
ryClassificationCurrency
Hedge

Open-end

Overseas

Equities

ETF

Index-type

No
Currency
Hedge

Eligible
Investments

Other
Assets(investment
trust
securities(Equities ingeneral))Timing of
Accounting
PeriodSemiannually

GeographicalAreas ofInvestment

North
America

Investment
Category

Currency
Hedge

Index
Followed

Yes(Full hedging)

Other(Dow Jones
Industrial
Average(TTM, JPYbased, JPY
Hedged))No hedge

Other
(Dow
Jones
Industrial
Average(TTM)(JPY))

Family Fund

Please refer to the Investment Trusts Association, Japan website for definitions of products classification and segmentation by attribute athttps://www.toushin.or.jp/.
* “Currency Hedging” under segmentation by attribute shows whether or not hedging is performed on currency risk against the yen.

Management Company Details
Name:

Nikko Asset Management Co., Ltd.

Date of establishment: December 1, 1959
Capital:17,363.04 million yen
Total net asset value of investment trust assets under management: 28,894.6 billion Yen(As of the end of January 2024)“Listed Index Fund US Equity US Equity (Dow Average) Currency Hedge” may be referred to as“Currency Hedge” and “Listed Index Fund US Equity (Dow Average) No Currency Hedge” may bereferred to as “No Currency Hedge”.

Objective and Characteristics of the Fund
Objective of the FundThis Fund seeks the net asset value per unit to track the performance of the benchmark
index by mainly investing in the mother fund.
* The benchmark index for Currency Hedge is Dow Jones Industrial Average (TTM, JPY-based,
JPY Hedged) and the benchmark index for No Currency Hedge is the Dow Jones Industrial
Average (TTM)(JPY).



The Dow Jones Industrial Average is a price-weighted stock index composed of 30
excellent companies representing main sectors (excluding Transportation and Utilities)
among stocks listed on financial instruments exchanges in the United States. In
selecting components, company’s sustainable growth and investor’s high interest, etc.
are considered. Dow Jones Industrial Average (TTM, JPY-based, JPY Hedged) is the
JPY hedged local currency denominated index converted into JPY. Dow Jones
Industrial Average (TTM)(JPY) is the local currency denominated index converting into
JPY.

Dow Jones Industrial Average =Combined price of 30 stocks usedin the index
DivisorCopyright and Other Rights of the “Dow Jones Industrial Average”
The Dow Jones Industrial Average is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”)
and has been licensed to Nikko Asset Management Co., Ltd. S&P®, S&P 500®, US 500, The 500, iBoxx®,
iTraxx® and CDX® are registered trademarks of S&P Global, Inc. or its affiliates (“S&P”), Dow Jones® is a
registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). A license to use these
trademarks has been granted to SPDJI and sublicensed to Nikko Asset Management Co., Ltd. For certain
purposes. “Listed Index Fund US Equity (Dow Average) Currency Hedge” and “Listed Index Fund US Equity(Dow Average) No Currency Hedge” is neither sponsored, endorsed, sold, nor promoted by SPDJI, Dow
Jones, S&P, or their respective affiliates. Neither party makes any representations regarding the justificationof investing in such products and accepts no liability for any errors, omissions or interruptions of the Dow
Jones Industrial Average.

Characteristics of the Fund
Aim to achieve investment result that is linked to the movement of

 the benchmark index.

 The fund will invest mainly in Index Mother Fund American Equity, with theaim of matching the rate of change in the net asset value per unit with therate of change in the benchmark index.
<Currency Hedge>
 The benchmark index to follow is Dow Jones Industrial Average (TTM, JPYbased, JPY Hedged).
 For investing in foreign currency-denominated assets, in principle, currency
hedging is carried out.
* Currency hedging is carried out in order to reduce currency fluctuation risk,
however, currency fluctuation risk cannot be eliminated completely. Whencurrency hedging is carried out, if the yen interest rate is lower than theinterest rate of the currency for which hedging is carried out, a hedge costis incurred.
<No Currency Hedge>
 The benchmark index to follow is Dow Jones Industrial Average (TTM)(JPY).
* The above operation may not be possible due to market conditions andfinancial trends.

are listed on Tokyo Stock Exchange and can be traded at any
 Units
time during trading hours.
 Units may be traded in blocks of 10 unit (as of the date when the securities
registration statement was filed).
 Brokers determine brokerage commissions.
 The method of trading is generally the same as that for stocks.
* Please contact your broker for further information.

Fund Structure
The fund is managed on a family fund method where the investment is made through a mother fund.
Application
Money

Inves tors
(B enefic iary)

Dividends
Redemption
Money
Application
Money

Dividends
Redemption
Money<Baby Fund>
Lis ted Index F und US
E quity(Dow Average)
C urrenc y Hedge

Lis ted Index F und US
E quity(Dow Average)
No C urrenc y Hedge<Mother Fund>
InvestInvestP/L
InvestP/L

Index Mother F und
Americ an E quity
P/L

S toc ks
lis ted on US financ ial
ins truments
exc hanges
etc .

Major Investment Restrictions
・There is no restriction on the investment ratio in stocks.
・There is no restriction as to the investment ratio for assets denominated in foreign
currencies.
Distribution Policy
・ As a general rule, the full amount of dividends and other income arising from the trust assets is
distributed after deduction of expenses.
*There is no guarantee on the payment or the amount of dividend.

Investment Risks
Please refer to “Matters to Consider” on our website below for the related risk.
https://en.nikkoam.com/etf/2562-dow30-currency-hedge
https://en.nikkoam.com/etf/2235-dow30-no-currency-hedge

Past Performance
Please refer to “Net Asset Value and Performance” on our website below for the past
performance.
https://en.nikkoam.com/etf/2562-dow30-currency-hedge
https://en.nikkoam.com/etf/2235-dow30-no-currency-hedge

Procedures, Fees, and Other Items■Subscription Memorandum
Subscription Units

Units to be determined by the distributors starting at no less than 5,000*Please contact the distributor for information on subscription units.

Subscription Price

The NAV as of the next business day on which the subscription is accepted

Subscription
AmountPlease make the payment by the day designated by the distributor.

Redemption Units

Units of 5,000 or more
*Units to be determined by the distributor*A beneficiary may ask a distributor to buyback his or her Units in cases where thetotal number of Units owned is less than the minimum-trading unit for the Units
established by the financial instruments exchanges. Please contact the
distributors for details.

Redemption Price

The NAV as of the next business day on which the redemption is accepted.

Redemption
Proceeds

As a rule, the payment will be made from the fifth business day after and including
the day on which a request for redemption is made.

Business Hours

As a rule, applications for subscriptions and redemptions that are completed by 3 p.m.
on the days distributors are open for business are deemed to have been acceptedon that day. It must be pursuant to the procedures established by the distributor.

for Subscription
and Redemption
Subscription
PeriodFrom April 9, 2024 to October 8, 2024
*The subscription period can be renewed by filing another securities registration
statement prior to the expiration date shown above.
Even on the days where the distributor is open for business, applications forsubscription will not be accepted on the following days. Please contact the
distributors for details.

1) When the application day for subscription is two business days prior to the
Non-acceptance Days accounting date. (For a period of two business days, beginning three business days
prior to the accounting date when the accounting date falls on non-business day.)for Subscription2) When the application day for subscription is non-business day for the New York
Stock Exchange and banks in New York; and3) In addition to the days referred to 1) and 2), any time the Management Company
determines that unavoidable circumstances have developed that may prevent itfrom investing in accordance with the basic policies set forth in the trust deeds.
Even on the days where the distributor is open for business, applications forredemption will not be accepted on the following days. Please contact the
distributors for details.
1) When the application day for redemption is for a period of two business days,
beginning three business days prior to the accounting date. (For a period of three
Non-acceptance Days business days, beginning four business days prior to the accounting date when theaccounting date falls on non-business day.)for Redemption2) When the application day for redemption is non business day for the New York
Stock Exchange and banks in New York; and3) In addition to the days referred to 1) and 2), any time the Management Company
determines that unavoidable circumstances have developed that may prevent itfrom investing in accordance with the basic policies set forth in the trust deeds.

Redemption

Based on the size of the Fund or the product characteristics, restrictions may beRestrictions

placed on the timing and amount of large number of units for redemption to avoid
adverse effects on the fund’s management.

Suspension or

The Management Company may suspend acceptance of applications forsubscription or requests for redemptions, or cancel applications for subscriptions
or redemptions that have already been accepted in the event that trading on afinancial instruments exchange is suspended, trading of foreign exchange issuspended, settlement functions are halted, or any unavoidable circumstancesarise.

Cancellation of
Subscription or
Redemption
Applications
Trust Term

<Currency Hedge>
Unlimited (launch date: March 13, 2020)<No Currency Hedge>
Unlimited (launch date: December 13, 2022)<Currency Hedge>

Early Termination

Early termination is carried out in any of the following cases:
・If the Units are delisted from all the financial instruments exchanges on which
they have been listed.
・ If the Dow Jones Industrial Average (TTM, JPY-based, JPY Hedged) is
discontinued.
・If any amendment to the trust deeds deemed necessary by the Management
Company or Trustee because of a change in the calculation method or similar of
the Dow Jones Industrial Average (TTM, JPY-based, JPY Hedged) is not
accepted by a written resolution.
Early termination may be possible in any of the following cases:
・If the total net assets fall below JPY 500 million after January 9,2024;
・If early termination is deemed advantageous for beneficiaries; or・If any unavoidable circumstances arise.
<No Currency Hedge>
Early termination is carried out in any of the following cases:
・If the Units are delisted from all the financial instruments exchanges on which
they have been listed.
・If the Dow Jones Industrial Average (TTM)(JPY) is discontinued.
・If any amendment to the trust deeds deemed necessary by the Management
Company or Trustee because of a change in the calculation method or similar of the
Dow Jones Industrial Average (TTM)(JPY) is not accepted by a written resolution.
Early termination may be possible in any of the following cases:
・If the total net assets fall below JPY 500 million after January 9,2026;
・If early termination is deemed advantageous for beneficiaries; or・If any unavoidable circumstances arise.

Closing of
Account

IncomeDistribution

January 8 and July 8 each year
Dividends are paid twice a year in accordance with the following income distribution
policy:* In general, the Trustee will pay to beneficiaries their income distribution by wiretransfer on the day specified by the Management Company but within 40 days ofthe end of each calculation period in the bank account designated in advance by
the beneficiary. When a beneficiary has signed a separate agreement with his or
her distributor in connection with the treatment of income distribution, payment
will be made pursuant to the provisions of such agreement.

Maximum Amountof Trust Money

1 trillion yen for each of the Funds

Public Notification

Public notices are posted on the website of the Trustee.

URL: www.nikkoam.com/*In the event that a public notification cannot be posted online due to unavoidable
circumstances, this will be published in the Nikkei.
Investment
Reports

Tax Treatment

As defined in the Act on Investment Trust and Investment Corporations,investment reports are not prepared and published.
For tax purposes, the Fund is treated as an exchange-traded fund (ETF).
・Publicly-offered Equity Investment Trusts are eligible for the Nippon Individual
Savings Account (NISA) if they meet certain requirements under the tax law.
・Each Fund is eligible for the “Growth Quota (Specific Tax Exemption
Management Account)” under the NISA, but the handling may differ depending on
the distributor. Please contact your distributor for details.
・The dividends received reduction will not apply.
・The system excluding dividends from gross revenue will not apply.

There is additional information on this page that does not appear on the original Japanese
Delivery Prospectus.

■Fund Expenses and Taxes
Fund Expenses

Expenses to be borne directly by investors
Independently set by Distributors*Please contact your Distributor for further information.
Subscription*Subscription Fee is compensation for explanation and information providing about theFeeFund or investment environment, and is also including expense of clerical processingof the subscription.
Independently set by Distributors
Redemption *Please contact your Distributor for further information.
Fee*Exchange Fee is compensation for clerical processing of the exchange.
Amount to beretained in
None.
Trust Assets
Costs paid indirectly by the customer for the trust assets (paid from the fund)
TER(TotalExpenseRatio)

Currency Hedge: 0.3739% / No Currency Hedge: 0.3910%* This represents the actual TER for the period of January 10, 2023 - January 5,2024.
No more than 0.275% (0.25% excluding taxes) per annum of the daily total NAV of
the Fund・The investment management fee is daily recorded and paid out of the trust assets at theend of each calculation period or at the time of termination of the Trust.

Investment
Management
Expenses(Trust fee)<Distribution of Investment Management Expenses(annual rate)>
When above is 0.25% excluding taxes as of the date when the securities registration
statement was filed :Investment Management Expenses(Trust fee)
=NAV of investment period X Trust fee rate
Total
Management
TrusteeCompany0.250％
0.215％
0.035％
Management
Company

Compensation for investment
management
Compensation for administration ofassets under management andTrustee
execution of orders from Management
Company*Figures are excluding tax. Consumption tax will be added.

Expenses(Expenses for
preparation of
Other
Expenses and prospectuses
and other
Fees
expenses)

Brokerage

No more than 0.1% per annum of the daily total NAV of the Fund
1. Expenses for preparation and distribution of prospectuses etc., 2.
Expenses for accounting and operations incidental to the same, 3.
Expenses for preparation of financial statements (including fees foroutsourcing operations described in 1.-3.), 4. Auditing fee, 5.
Expenses for listing of the Fund, as well as 6. Royalties for the Dow
Jones Industrial Average (TTM, JPY-based, JPY Hedged) or the
Dow Jones Industrial Average (TTM)(JPY) are paid out of the trust
assets at the times specified by the Management Company.
* Auditing fee is an expense paid to audit firm for auditing of the Fund.
Brokerage commissions on securities in the portfolio, expenses forcommissions
and otherfees

custody of assets in foreign countries, interest on borrowings, interest on
advances and other fees are paid out of the trust assets each time they
are incurred.
* The figures for items such as the rate and maximum amount cannot beprovided in advance as they fluctuate in line with investment
performance and other factors. As the funds do not currently lend
securities, there will be no fees in relation to that.
The total amount of expenses of the Fund to be borne by investors varies according to holding length andinvestment status, and thus cannot be shown.

Tax Treatment
Tax treatment for individual investors
1) Taxation upon sale of Units
・Gains on sale (capital gains) are deemed to be income from transfer and thus have to be filed
to declare for separate taxation at 20.315%. When a beneficiary has chosen a designatedaccount with tax withholding (an account with tax withholding at the taxpayer's position), tax will
be withheld at sources at 20.315%. (As a rule, tax filing is not necessary.)2) Taxation upon receipt of income distributions
・Income distributions are regarded as dividend income, and tax is withheld at source at 20.315%.
(As a general rule, tax filing is not necessary.) You can also file a tax return, and choose either
separated taxation, based on declaration, or consolidated taxation (under which the dividends
received deduction is available).
3) Tax on Redemption and Termination Fee
・Gains on termination and redemption (capital gains) are deemed to be income from transfer
and thus have to be filed to declare for separate taxation at 20.315%. When a beneficiary has
chosen a designated account with tax withholding (an account with tax withholding at the
taxpayer's position), tax will be withheld at sources at 20.315%. (As a rule, tax filing is notnecessary.)- By filing a tax return, you can offset losses upon sale (capital losses) against capital gains fromlisted stocks, dividends etc. from listed stocks, and interest income from public and corporate
bonds and such like (as long as separated taxation has been chosen upon declaration). In
addition, gains on sale (capital gains), income distributions, and interest income from publicand corporate bonds etc. (if separated taxation has been chosen upon declaration) can beoffset against capital losses from listed stocks and such like.
- When investing through the Nippon Individual Savings Account (NISA), dividend income andtransfer income from newly purchased publicly offered equity investment trusts are exempt fromtaxation for an unlimited period up to a certain amount each year. The tax exemption is available
only to those who meet certain conditions, such as opening a tax-exempt account with a
distributor, and who purchase products that meet the requirements of the tax law. For details,
please contact the distributor.
- In cases of being applied to the foreign tax deduction, tax on distributions may differ from theaforementioned descriptions.
- The aforementioned descriptions do not apply to Japanese corporations.
- Above tax rates are as of the date when the securities registration statement was filed, so there
may change in the event that tax laws are revised. We recommend that investors consult a tax
or similar specialist for details of tax treatment.