XQLT seeks to provide long-term capital growth by replicating, to the extent possible, the performance, netof expenses, of an Index (defined below) selected at the discretion of BlackRock Canada that measures theperformance of U.S. equity securities identified by the Index Provider (defined below) as exhibiting positive qualitycharacteristics. The current Index for XQLT is identified in this prospectus under “Investment Objectives”.Under normal market conditions, XQLT will primarily invest in securities of one or more exchange-tradedfunds managed by BlackRock Canada or an affiliate (“iShares ETFs”) and/or U.S. equity securities.