Latest news with #OMAH
Yahoo
6 days ago
- Business
- Yahoo
New 'Animal Spirits' ETF Offers 2x Exposure to Major Stocks
If you believe human emotions drive investment gains and losses, VistaShares may have a new exchange-traded fund for you. On Wednesday, the asset manager launched the VistaShares Animal Spirits 2x Daily Strategy ETF (WILD), which will offer 2x daily exposure to five of the most popular stocks based on their buying momentum and investor sentiment. Adam Patti, CEO of VistaShares, told that he had been intrigued by single-stock leveraged products for over a year before wanting to provide a better option. These types of funds, which trade a single equity and multiply performance with derivatives, have surged in popularity of late despite their risk and volatility. 'Whether you like them or not, investors have a clear use of them to express their views of the market or specific stocks,' Patti said. After speaking to institutions and institutional trading desks about offering high-beta exposure—and how those firms were creating methodologies to package several names together as opposed to taking a bet on one name—VistaShares came up with its own methodology. This involves looking at the universe of the roughly 30 underlying names that have single-stock leveraged ETFs associated with them, then choosing the ones with the most assets deployed against them and the most assets flowing into them. The portfolio composition is adjusted monthly to reflect any changing sentiment around the popular stocks. The five names are equally weighted. 'We're trying to harness investor sentiment and momentum in the marketplace, and go where the money is going,' Patti said. 'If you believe that these wildly successful trading stocks are going up, this is a great way to get that exposure." He added that the fund also lessens the risk of being exposed to a single stock. The VistaShares suite of ETFs also includes the VistaShares Target 15 Berkshire Select Income ETF (OMAH), an active ETF allowing market participants to invest like Warren Buffett and get monthly income potential, and the VistaShares Target 15 USA Quality Income ETF (QUSA), which combines factor-based equity investing with an options overlay designed to generate high monthly income. Just last week, Tidal Trust filed with the Securities and Exchange Commission for VistaShares to offer seven ETFs with exposure to the top picks of elite investors such as Michael Burry of Scion Asset Management and Bill Ackman of Pershing Square Holdings. 'What we're trying to do here at VistaShares is create products that don't exist,' Patti said when asked about WILD. That includes leveraging 'institutional-type portfolio construction to fill white space in the market and hopefully provide products that have strong use cases.'Permalink | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
6 days ago
- Business
- Business Wire
VistaShares Harnesses the 'Animal Spirits' of the Market With the Launch of WILD
SAN FRANCISCO & BOSTON & NEW YORK--(BUSINESS WIRE)-- VistaShares, an innovative asset manager seeking to disrupt the status quo in growth equity and income investing, today announced the newest addition to its ETF lineup: the VistaShares Animal Spirits™ 2x Daily Strategy ETF (WILD). "(WILD) offers a more diversified approach to investing in high-beta securities, and we believe it is the next stage in the evolution of what a leveraged ETF can be,' Adam Patti, CEO of VistaShares. 'The leveraged ETF category has gained a significant number of adherents in recent years, and WILD brings a very different approach to the conversation,' said Adam Patti, CEO of VistaShares. 'Using a systematic process, WILD provides 2x leveraged daily exposure to a portfolio of five widely traded stocks exhibiting the strongest investor sentiment and buying momentum. The portfolio composition is adjusted monthly to reflect changing sentiment among these popular trading stocks. It offers a more diversified approach to investing in high-beta securities, and we believe it is the next stage in the evolution of what a leveraged ETF can be.' Underpinning WILD's investment philosophy is the idea of an 'Animal Spirits'- focused approach to investing, which seeks to capitalize on the behavioral and psychological factors that drive investor sentiment and market trends. WILD targets those companies that are garnering outsized attention from traders, reflecting the influence of investor optimism and momentum, which can be key elements of note in seeking attractive investment returns. By providing 2x daily levered exposure to this basket of stocks, WILD allows investors to tap into the type of tactical alpha trading solution long favored by sophisticated institutional investors. 'Institutional trading desks have long put a similar approach to work in their efforts to deliver high-beta exposure to their institutional clients,' added Patti. 'Single-stock leveraged ETFs have clearly found an audience for the roles they can play in a portfolio. The attention different funds in that category attract can tell us much about how the market is viewing a specific company. With that information, we can build an actively managed, concentrated portfolio of those stocks that are generating the most momentum and fueling the most investor optimism, seeking to deliver 2x daily performance for the resulting basket of equities. It's an approach long favored by institutional traders and now available to all investors for the first time.' WILD joins a VistaShares ETF lineup that also includes the fast-growing equity/income solutions OMAH and QUSA, as well as AIS, an AI Infrastructure ETF that upends the traditional thinking around how thematic portfolios can be constructed and managed. For more information and updates from VistaShares, please visit and follow the firm on Linkedin @VistaShares and on X @VistaSharesETFs. The VistaShares Animal Spirits Daily 2x Strategy ETF (the '2x Fund') seeks daily leveraged investment results and is intended to be used as a short-term trading vehicle. The 2x Fund attempts to provide daily investment results that correspond to two times (200%) the share price performance of an actively-managed group of equity securities (the 'Target Portfolio'). The 2x Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. The 2x Fund is very different from most mutual funds and exchange-traded funds. The volatility of the market value of the Target Portfolio may affect the 2x Fund's return as much as, or more than, the Target Portfolio's return. The performance of the 2x Fund for periods longer or shorter than a single day will very likely differ in amount, and possibly even direction, from 200% of the daily return of the Target Portfolio's market value for the same period, before accounting for fees and expenses. The 2x Fund may not perform as expected. he 2x Fund is not suitable for all investors. The 2x Fund is designed to be utilized only by sophisticated investors, such as traders and active investors employing dynamic strategies. About VistaShares At VistaShares, we strive to deliver innovative investment solutions for today's investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering three distinct solutions. Our Pure Exposure™ Growth Equity ETFs target technology-driven economic Supercycles™ that we believe are poised for significant growth. Target 15™ Options-Income ETFs are designed to generate high monthly income while complementing a core equity portfolio. Animal Spirits™ Tactical Alpha ETFs are designed to provide investors short term trading vehicles that seek to harness momentum and investor sentiment. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288. Read the prospectus or summary prospectus carefully before investing. Investing involves risk, including possible loss of principal. Beta is the measure of the risk or volatility of a portfolio or investment compared with the market as a whole. Animal Spirits Strategy Risks. The Fund's investment strategy of focusing on companies with strong investor interest carries significant risks. This approach may result in the Fund investing in overvalued securities, as heightened enthusiasm can inflate stock prices beyond their intrinsic value, leaving them vulnerable to sharp corrections. The strategy is influenced by herd mentality, which could lead the Fund to participate in speculative bubbles that may collapse suddenly. Additionally, the strategy often involves a short-term focus, with investments driven by fleeting trends or news cycles, increasing the likelihood of heightened volatility and unpredictability. The Fund may also invest in companies that lack fundamental financial support, relying more on market hype than on sustainable growth or profitability. There is a significant risk of timing errors, as the strategy requires precise entry and exit points to avoid losses. Finally, because the Fund's strategy is based on a ranking process of companies with strong investor interest, the investment decisions may prove to be poor. Index Strategy Risk. The Fund's strategy is linked to an Index maintained by the Index Provider that exercises complete control over the Index. The Index Provider may delay or add a rebalance date, which may adversely impact the performance of the Fund and its correlation to the Index. In addition, there is no guarantee that the methodology used by the Index Provider to identify constituents for the Index will achieve its intended result or positive performance. Errors in Index data, Index computations or the construction of the Index in accordance with its methodology may occur from time to time and may not be identified and/or corrected for a period of time or at all, which may have an adverse impact on the Fund. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund's investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, leverage, imperfect daily correlations with underlying investments or the Fund's other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions. The use of derivatives is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. The use of derivatives may result in larger losses or smaller gains than directly investing in securities. When the Fund uses derivatives, there may be imperfect correlation between the share price of the Target Portfolio and the derivative, which may prevent the Fund from achieving its investment objective. Because derivatives often require only a limited initial investment, the use of derivatives may expose the Fund to losses in excess of those amounts initially invested. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser's effectiveness. Non-Diversification Risk. Because the Fund is 'non-diversified,' it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund's overall value to decline to a greater degree than if the Fund held a more diversified portfolio. U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. Payment of principal and interest on U.S. Government obligations may be backed by the full faith and credit of the United States or may be backed solely by the issuing or guaranteeing agency or instrumentality itself. In the latter case, the investor must look principally to the agency or instrumentality issuing or guaranteeing the obligation for ultimate repayment, which agency or instrumentality may be privately owned. There can be no assurance that the U.S. Government would provide financial support to its agencies or instrumentalities (including government-sponsored enterprises) where it is not obligated to do so. Models and Data Risk. The composition of the Index is heavily dependent on proprietary quantitative models as well as information and data supplied by third parties ('Models and Data'). High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund's holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund's expenses. Non-Diversification Risk. Because the Fund is 'non-diversified,' it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. Foreside Fund Services, LLC, distributor.
Business Wire
23-05-2025
- Business
- Business Wire
VistaShares Announces May 2025 Distributions for OMAH and QUSA ETFs
NEW YORK & SAN FRANCISCO & BOSTON--(BUSINESS WIRE)-- VistaShares, an innovative asset manager seeking to disrupt the status quo in thematic exposures, income investing, and more, is today announcing the May monthly distribution amounts for its VistaShares Target 15™ Berkshire Select Income ETF (OMAH) and VistaShares Target 15™ USA Quality Income ETF (QUSA). For more information and updates from VistaShares, please visit and follow the firm on LinkedIn @VistaShares and on X @VistaSharesETFs. About VistaShares At VistaShares, we strive to deliver innovative investment solutions for today's investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering two distinct strategies. Our Pure Exposure™ ETFs target technology-driven economic Supercycles™ that we believe are poised for significant growth. Additionally, our Target 15 ™option-based income ETFs are designed to generate high monthly income while complementing a core equity portfolio. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288. Read the prospectus or summary prospectus carefully before investing. Investing involves risk, including possible loss of principal. Index / Strategy Risks. The Index's holdings are derived from publicly available data, which may be delayed relative to the then current portfolio of Berkshire Hathaway. Consequently, the Fund's holdings, which are based on the Index, may not accurately reflect Berkshire Hathaway's most recent publicly-disclosed investment positions and may deviate substantially from its actual current Portfolio. The equity securities represented in the Index are subject to a range of risks, including, but not limited to, fluctuations in Market conditions, increased competition, and evolving regulatory environments, all of which could adversely affect their performance. Focused Portfolio Risk. The Fund will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs. Holding a relatively concentrated portfolio may increase the risk that the value of the Fund could go down because of the poor performance of one or a few investments. Distribution Risk. Although the Fund has an annual income target, the Fund intends to distribute income on a monthly basis. There is no assurance that the Fund will make a distribution in any given month. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. Options Contracts Risk. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers. The equity securities held in the Fund's portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective Investors do not have a track record or history on which to base their investment decisions. Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser's effectiveness. Foreside Fund Services, LLC, distributor.
Business Wire
06-05-2025
- Business
- Business Wire
VistaShares Adds to Income ETF Suite with Launch of
SAN FRANCISCO & BOSTON & NEW YORK--(BUSINESS WIRE)-- VistaShares, an innovative asset manager seeking to disrupt the status quo in thematic exposures, income investing, and more, today announced another significant addition to its ETF lineup with the launch of the VistaShares Target 15™ USA Quality Income ETF (QUSA). 'The universe of factor ETFs is massive, with over $100 billion in investor dollars across the range of available funds. But to this point, there were no ETFs that provided factor-driven exposures with an equity options overlay..." Adam Patti, VistaShares. Share The Fund is the first to provide investors with an equity portfolio made up of U.S. stocks exhibiting strong quality characteristics with an actively managed options overlay that aims to achieve an annual income target of 15%, distributed 1.25% monthly. 'The universe of factor ETFs is massive, with over $100 billion in investor dollars across the range of available funds. But to this point, there were no ETFs that provided factor-driven exposures with an equity options overlay. We're thrilled to be first to market with QUSA as the next addition to our Target 15™ lineup of funds,' said Adam Patti, CEO of VistaShares. QUSA joins the VistaShares Target 15™ Berkshire Select Income ETF (OMAH) in the VistaShares family. OMAH provides investors with exposure to an equity portfolio designed to reflect a select group of the publicly disclosed investments of Berkshire Hathaway while also building in an actively managed options overlay that aims to achieve the same annual income target of 15% (distributed 1.25% monthly). Since launching in early March of 2025, OMAH has performed as designed and has quickly grown to over $100 million in AUM. Also like the OMAH ETF, QUSA seeks to generate income primarily through the use of options strategies involving options contracts on its Underlying Securities. These strategies are overseen by the highly experienced options trading team at Tidal Financial Group, with Jay Pestrichelli, the Chief Trading Officer at Tidal Financial Group and the portfolio manager of many other highly acclaimed Income ETFs, in the role of lead portfolio manager for the QUSA options overlay. 'With OMAH, we introduced a way for investors to unlock the income component that has long been missing from exposure to Berkshire Hathaway. Now, with QUSA, we're bringing attractive income potential to the well-established world of factor investing,' added Patti. 'A core equity exposure can now simultaneously deliver high monthly income potential. It is nothing short of a game changer when it comes to introducing greater efficiencies into the portfolio construction process.' For more information and updates from VistaShares, please visit and follow the firm on Linkedin @VistaShares and on X @VistaSharesETFs. About VistaShares At VistaShares, we strive to deliver innovative investment solutions for today's investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering two distinct strategies. Our Pure Exposure™ ETFs target technology-driven economic Supercycles™ that we believe are poised for significant growth. Additionally, our Target 15 ™ option-based income ETFs are designed to generate high monthly income while complementing a core equity portfolio. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288. Read the prospectus or summary prospectus carefully before investing. Investing involves risk, including possible loss of principal. The Distribution rate is the estimated payout an investor would receive if the most recently declared distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by multiplying an ETF's Distribution per Share by twelve (12), and dividing the resulting amount by the ETF's most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions are not guaranteed. The Distribution rate and 30-Day SEC Yield is not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from month to month and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund's NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These distribution rates caused by unusually favorable market conditions may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future. Index / Strategy Risks. The Index's holdings are derived from publicly available data, which may be delayed relative to the then current portfolio of Berkshire Hathaway. Consequently, the Fund's holdings, which are based on the Index, may not accurately reflect Berkshire Hathaway's most recent publicly-disclosed investment positions and may deviate substantially from its actual current Portfolio. The equity securities represented in the Index are subject to a range of risks, including, but not limited to, fluctuations in Market conditions, increased competition, and evolving regulatory environments, all of which could adversely affect their performance. Focused Portfolio Risk. The Fund will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs. Holding a relatively concentrated portfolio may increase the risk that the value of the Fund could go down because of the poor performance of one or a few investments. Distribution Risk. Although the Fund has an annual income target, the Fund intends to distribute income on a monthly basis. There is no assurance that the Fund will make a distribution in any given month. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. Options Contracts Risk. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers. The equity securities held in the Fund's portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective Investors do not have a track record or history on which to base their investment decisions. Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser's effectiveness. Foreside Fund Services, LLC, distributor.
Business Wire
01-05-2025
- Business
- Business Wire
The VistaShares Target 15™ Berkshire Select Income ETF (OMAH) Passes the $100 Million AUM Mark
SAN FRANCISCO & BOSTON & NEW YORK--(BUSINESS WIRE)-- VistaShares, an innovative asset manager seeking to disrupt the status quo in thematic exposures, income investing, and more, is today celebrating the news that its VistaShares Target 15™ Berkshire Select Income ETF (OMAH) has passed $100 million in assets under management. "We've been thrilled with the investor response to the fund and look forward to continuing to educate the marketplace on how an approach like this can fit into both core equity and income portfolios...' - Adam Patti, CEO of VistaShares. Share OMAH began trading on March 5 th of this year, meaning the fund passed this significant milestone in just its first two months of trading. OMAH has brought an entirely new approach to the fast-growing category of equity- and options-powered strategies as it provides investors with exposure to an equity portfolio designed to reflect a select group of the publicly disclosed investments of Berkshire Hathaway while an actively managed options overlay aims to achieve an annual income target of 15%, distributed 1.25% monthly. 'We built OMAH to be a core equity holding with the added benefit of monthly income potential,' said Adam Patti, CEO of VistaShares. "We've been thrilled with the investor response to the fund and look forward to continuing to educate the marketplace on how an approach like this can fit into both core equity and income portfolios.' For more information and updates from VistaShares, please visit and follow the firm on Linkedin @VistaShares, and on X @VistaSharesETFs. About VistaShares At VistaShares, we strive to deliver innovative investment solutions for today's investors, helping them navigate evolving market opportunities with confidence. VistaShares ETFs are actively managed by industry and investment experts, offering two distinct strategies. Our Pure Exposure™ ETFs target technology-driven economic Supercycles™ that we believe are poised for significant growth. Additionally, our Target 15 ™option-based income ETFs are designed to generate high monthly income while complementing a core equity portfolio. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (844) 875-2288. Read the prospectus or summary prospectus carefully before investing. Investing involves risk, including possible loss of principal. Index / Strategy Risks. The Index's holdings are derived from publicly available data, which may be delayed relative to the then current portfolio of Berkshire Hathaway. Consequently, the Fund's holdings, which are based on the Index, may not accurately reflect Berkshire Hathaway's most recent publicly-disclosed investment positions and may deviate substantially from its actual current Portfolio. The equity securities represented in the Index are subject to a range of risks, including, but not limited to, fluctuations in Market conditions, increased competition, and evolving regulatory environments, all of which could adversely affect their performance. Focused Portfolio Risk. The Fund will hold a relatively focused portfolio that may contain exposure to the securities of fewer issuers than the portfolios of other ETFs. Holding a relatively concentrated portfolio may increase the risk that the value of the Fund could go down because of the poor performance of one or a few investments. Distribution Risk. Although the Fund has an annual income target, the Fund intends to distribute income on a monthly basis. There is no assurance that the Fund will make a distribution in any given month. Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. Options Contracts Risk. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events. Equity Market Risk. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from specific issuers. The equity securities held in the Fund's portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. U.S. Government and U.S. Agency Obligations Risk. The Fund may invest in securities issued by the U.S. government or its agencies or instrumentalities. U.S. Government obligations include securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies or instrumentalities, such as the U.S. Treasury. New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective Investors do not have a track record or history on which to base their investment decisions. Newer Sub-Adviser Risk. VistaShares is a recently formed entity and has limited experience with managing an exchange-traded fund, which may limit the Sub-Adviser's effectiveness. Foreside Fund Services, LLC, distributor.
