We believe in providing a range of active management strategies that address the nuances across equity classes to help investors achieve their objectives. With an active, high-conviction investing strategy, we can use differentiated and rigorous data-driven research to identify opportunities in U.S. Large Cap markets. Within less-researched and inefficient segments of the equity markets, we take a systematic approach that blends quantitative and qualitative insights for portfolio construction that to helps deliver the desired outcome.

We offer a select set of sub-advised funds to complement a portfolio’s diversification strategy. These funds are overseen by a knowledgeable and experienced management team who consider the specific objectives of the investments they manage.

Traditional ETFs tell the public what assets they hold each day. This fund will not. This may create additional risks for your investment. For example:

• You may have to pay more money to trade the fund’s shares. This fund will provide less information to traders, who tend to charge more for trades when they have less information.
• The price you pay to buy fund shares on an exchange may not match the value of the fund’s portfolio. The same is true when you sell shares. These price differences may be greater for this fund compared to other ETFs because it provides less information to traders.
• These additional risks may be even greater in bad or uncertain market conditions.
• The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio.

The differences between this fund and other ETFs may also have advantages. By keeping certain information about the fund undisclosed, this fund may face less risk that other traders can predict or replicate its investment strategy. This may improve the fund’s performance. If other traders are able to replicate or predict the fund’s investment strategy, however, this may hurt the fund’s performance.

For additional information regarding the unique attributes and risks of the fund, see Proxy Portfolio Risk, Premium/Discount Risk, Trading Halt Risk, Authorized Participant Concentration Risk, Tracking Error Risk and Shares of the Fund May Trade at Prices Other Than NAV in the Principal Risks and Proxy Portfolio and Proxy Overlap sections of the prospectus and/or the Statement of Additional Information.

Do you have questions about ETFs, but don’t know where to find the answers? Check out the ETF education hub for the knowledge you need, from basic to advanced.

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