EDOG is passively-managed to apply the Dogs of the Dow Theory to a rules-based investment strategy for emerging market stocks. The fund holds a relatively small, equal-weighted basket of 50 large-cap emerging market stocks selected on the basis of high dividend yield. The Dogs of the Dow theory, posits that dividends are more or less constant while prices vary, and therefore stocks that have a high dividend yield but trade at a depressed price are poised to appreciate. The index is rebalanced quarterly and reconstituted annually. EDOG is the EM version of IDOG, SDOG, and RDOG.