|Fund Stats as of 07/26/2016|
|Listing Exchange||NYSE Arca|
|Fund Type||Exchange Traded Fund|
|Last Trade Price||$19.85|
|Total Net Assets||$33,972,275|
|Total Market Value||$33,681,826|
|Expenses as of 03/31/2016|
|Total Operating Expenses||0.95%|
|Yield Data as of 06/30/2016|
|30 Day SEC||-0.65%|
|30 Day SEC Unsubsidized||-0.65%|
|U.S. Equity High Volatility Put Write Index Fund IIV File|
|Quarterly Fact Sheet|
|Statement of Additional Information|
The U.S. Equity High Volatility Put Write Index Fund (HVPW) seeks investment results that correspond generally to the performance, before the Fund's fees and expenses, of an index called the NYSE Arca U.S. Equity High Volatility Put Write Index. The Index reflects the performance of a portfolio of exchange-traded put options on a selection of the largest capitalized stocks which also have listed options and which have the highest volatility, as determined by the NYSE Arca, Inc., the Fund's index provider. Put options are financial instruments that give the owner/buyer the right, but not the obligation, to sell a specified quantity of a security at a set price called the "strike" price on or before an agreed upon expiration date.
Selling puts is a frequently implemented income strategy. HVPW provides the beneficial features of put writing with the transparency and liquidity of the Exchange Traded Fund (ETF) structure. This results in benefits such as:
ETFs are transparent because holdings are disclosed daily. ETFs are considered to have continuous liquidity because they allow for an individual to trade throughout the day.
The put options held by HVPW are 60 day listed exchange traded American-style option contracts. The strike3 price of each put option included in the index and the fund must be as close as possible to 85% of the closing price of the option's underlying stock price as of the beginning of each 60-day period.
3 The specified price at which an option contract may be exercised.