Applied Finance Valuation Large Cap ETF
VSLU
Inception Date:
4/29/2021
Management Style:
Active
CUSIP:
26923N405
Total Gross Expense Ratio:
0.490%
Asset Class:
Equity
Exchange:
NYSE Arca, Inc.
Advisor:
Applied Finance Advisors, LLC
As Of Date:
7/16/2025
NAV ($):
$39.65
Market Price ($):
$39.65
Premium / Discount:
-0.010
30 Day Median Bid/Ask Spread:
0.001538
Shares Outstanding:
6,575,000
Total Net Assets:
$260,723,735.00
Quarter End Performance
| As of 6/30/2025 | YTD | 1m | 3m | 6m | 1y | Since Inception |
|---|---|---|---|---|---|---|
| VSLU NAV | 7.01% | 5.20% | 11.85% | 7.01% | 15.59% | 12.07% |
| VSLU Market Price | 7.00% | 5.10% | 11.79% | 7.00% | 15.14% | 12.09% |
The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 833-356-0909. The Fund’s total expense ratio is 0.49%
NAV returns are based on the fund’s reported net asset value (NAV). NAV is typically calculated at 4:00 pm Eastern time on each business day NYSE Arca is open for trading. Market price performance is based on the trade price at which shares are bought and sold on the NYSE Arca using the last share trade. Performance of less than one year is cumulative.
Premium Discount
| Number of Days at | 2025 Cumul. | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | 2024 Cumul. | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Premium | 92 | 7 | 38 | 47 | 199 | 57 | 52 | 51 | 39 | |
| NAV | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Discount | 41 | 4 | 24 | 13 | 52 | 6 | 12 | 12 | 22 |
Premium - The number of trading days the ETF's closing price exceeds its NAV.
NAV - This is determined by adding up the value of all the assets in the fund, including assets and cash, subtracting any liabilities, and then dividing that value by the number of outstanding shares in the ETF.
Discount - The number of trading days the ETF's closing price is below its NAV.
| Days traded at Premium | |
| Days traded at NAV | |
| Days traded at Discount |
| As of Date | Discount Premium |
|---|
Holdings
| As Of Date | Ticker | Name | Weight | Market Value | FIGI | Shares Held |
|---|---|---|---|---|---|---|
| 7/16/2025 | A | AGILENT TECHNOLOGIES INC | 0.11% | 280,739.25 | BBG000C2V3D6 | 2,475 |
| 7/16/2025 | AAPL | APPLE INC | 5.91% | 15,394,640.32 | BBG000B9XRY4 | 73,252 |
| 7/16/2025 | ABBV | ABBVIE INC | 1.51% | 3,942,147.30 | BBG0025Y4RY4 | 20,685 |
| 7/16/2025 | ABNB | AIRBNB INC | 0.14% | 360,640.98 | BBG001Y2XS07 | 2,638 |
| 7/16/2025 | ABT | ABBOTT LABORATORIES COMMON STOCK USD 0 | 0.27% | 706,258.14 | BBG000B9ZXB4 | 5,361 |
| 7/16/2025 | ACGL | ARCH CAPITAL GROUP CO | 0.07% | 189,362.82 | BBG000HXNN20 | 2,126 |
| 7/16/2025 | ACN | ACCENTURE PLC-CL A | 0.52% | 1,351,924.78 | BBG000D9D830 | 4,834 |
| 7/16/2025 | ADBE | ADOBE SYSTEMS INC | 0.78% | 2,027,359.08 | BBG000BB5006 | 5,604 |
| 7/16/2025 | ADM | ARCHER-DANIELS-MIDLAND CO | 0.04% | 105,516.00 | BBG000BB6WG8 | 1,954 |
| 7/16/2025 | ADP | AUTOMATIC DATA PROCESSING | 0.20% | 516,164.13 | BBG000JG0547 | 1,719 |
| 7/16/2025 | ADSK | AUTODESK INC | 0.10% | 249,233.67 | BBG000BM7HL0 | 861 |
| 7/16/2025 | AFL | AFLAC INC | 0.09% | 237,166.72 | BBG000BBBNC6 | 2,338 |
| 7/16/2025 | AIG | AMERICAN INTERNATIONAL GROUP | 0.00% | 8,584.94 | BBG000BBDZG3 | 106 |
| 7/16/2025 | AIZ | ASSURANT INC | 0.01% | 36,590.78 | BBG000BZX1N5 | 197 |
| 7/16/2025 | AKAM | AKAMAI TECHNOLOGIES INC | 0.01% | 18,258.48 | BBG000BJQWD2 | 237 |
| 7/16/2025 | ALGN | Align Technology Inc. | 0.01% | 30,057.92 | BBG000BRNLL2 | 158 |
| 7/16/2025 | ALL | ALLSTATE CORP | 0.15% | 392,804.96 | BBG000BVMGF2 | 2,008 |
| 7/16/2025 | ALLE | Allegion Public Limited Company | 0.05% | 125,474.13 | BBG003PS7JV1 | 859 |
| 7/16/2025 | AMAT | APPLIED MATERIALS INC | 0.72% | 1,886,734.85 | BBG000BBPFB9 | 9,685 |
| 7/16/2025 | AMCR | AMCOR PLC | 0.01% | 33,649.22 | BBG00LNJRQ09 | 3,557 |
| 7/16/2025 | AMD | ADVANCED MICRO DEVICES INC | 0.16% | 406,122.96 | BBG000BBQCY0 | 2,537 |
| 7/16/2025 | AME | AMETEK INC | 0.11% | 274,958.65 | BBG000B9XG87 | 1,553 |
| 7/16/2025 | AMGN | AMGEN INC | 0.65% | 1,692,154.18 | BBG000BBS2Y0 | 5,659 |
| 7/16/2025 | AMP | AMERIPRISE FINANCIAL INC | 0.41% | 1,074,347.48 | BBG000G3QLY3 | 2,047 |
| 7/16/2025 | AMT | AMERICAN TOWER CORP | 0.19% | 487,148.16 | BBG000B9XYV2 | 2,181 |
| 7/16/2025 | AMTM-W | Amentum Holdings Inc | 0.00% | 947.31 | BBG01NY7B734 | 39 |
| 7/16/2025 | AMZN | AMAZON.COM INC | 4.46% | 11,628,199.00 | BBG000BVPV84 | 52,100 |
| 7/16/2025 | ANET | ARISTA NETWORKS INC | 0.35% | 900,514.50 | BBG01QQZBFH1 | 8,315 |
| 7/16/2025 | AOS | AO Smith Corp | 0.01% | 25,382.65 | BBG000BC1L02 | 373 |
| 7/16/2025 | APA | APA CORP | 0.03% | 79,289.94 | BBG00YTS96G2 | 4,371 |
| 7/16/2025 | APTV.UN | APTIV HOLDINGS LTD COMMON STOCK USD 0.01 | 0.05% | 131,072.97 | BBG01R914LT5 | 1,869 |
| 7/16/2025 | AVB | AVALONBAY COMMUNITIES INC | 0.01% | 39,160.84 | BBG000BLPBL5 | 194 |
| 7/16/2025 | AVGO | Broadcom Inc. | 5.15% | 13,412,047.22 | BBG00KHY5S69 | 47,762 |
| 7/16/2025 | AVY | AVERY DENNISON CORP | 0.02% | 52,741.28 | BBG000BCQ4P6 | 296 |
| 7/16/2025 | AXP | AMERICAN EXPRESS CO | 0.73% | 1,905,709.00 | BBG000BCQZS4 | 6,110 |
| 7/16/2025 | AZO | AUTOZONE INC | 0.39% | 1,016,403.12 | BBG000C7LMS8 | 276 |
| 7/16/2025 | BALL | BALL CORP | 0.03% | 69,306.81 | BBG000BDDNH5 | 1,189 |
| 7/16/2025 | BBY | BEST BUY CO INC | 0.05% | 139,382.25 | BBG000BCWCG1 | 2,085 |
| 7/16/2025 | BF B | BROWN-FORMAN CORP | 0.02% | 54,371.55 | BBG000BD2NY8 | 1,965 |
| 7/16/2025 | BG | Bunge Global SA | 0.02% | 63,437.00 | BBG01JZ8VL91 | 869 |
| 7/16/2025 | BIIB | BIOGEN INC | 0.07% | 181,000.14 | BBG000C17X76 | 1,409 |
| 7/16/2025 | BK | BANK OF NEW YORK MELLON CORP | 0.05% | 132,922.08 | BBG000BD8PN9 | 1,392 |
| 7/16/2025 | BKNG | BOOKING HOLDINGS INC | 0.91% | 2,382,072.73 | BBG000BLBVN4 | 421 |
| 7/16/2025 | BLDR | BUILDERS FIRSTSOURCE INC | 0.06% | 156,744.00 | BBG000BKD3K9 | 1,244 |
| 7/16/2025 | BR | Broadridge Financial Solutions, Inc. | 0.03% | 65,760.80 | BBG000PPFKQ7 | 280 |
| 7/16/2025 | BXP | Boston Properties Inc | 0.01% | 32,806.80 | BBG000BS5CM9 | 468 |
| 7/16/2025 | CAG | CONAGRA BRANDS INC | 0.00% | 5,978.56 | BBG000BDXGP9 | 314 |
| 7/16/2025 | CAH | CARDINAL HEALTH INC | 0.08% | 208,798.56 | BBG000D898T9 | 1,296 |
| 7/16/2025 | CARR | CARRIER GLOBAL CORP-W/I | 0.03% | 68,565.87 | BBG00RP5HYS8 | 909 |
| 7/16/2025 | CAT | CATERPILLAR INC | 0.56% | 1,458,292.16 | BBG000BF0K17 | 3,532 |
| 7/16/2025 | CB | CHUBB LIMITED | 0.18% | 469,144.00 | BBG000BR14K5 | 1,690 |
| 7/16/2025 | CBOE | CBOE HOLDINGS INC | 0.09% | 225,007.90 | BBG000QH56C1 | 949 |
| 7/16/2025 | CCL | CARNIVAL CORP | 0.14% | 362,941.92 | BBG000BF6LY3 | 12,498 |
| 7/16/2025 | CDW | CDW CORP/DE | 0.12% | 302,255.60 | BBG001P63B80 | 1,720 |
| 7/16/2025 | CEG | CONSTELLATION ENERGY CORPORATION | 0.21% | 547,671.40 | BBG014KFRNP7 | 1,777 |
| 7/16/2025 | CF | CF INDUSTRIES HOLDINGS INC | 0.02% | 64,264.40 | BBG000BWJFZ4 | 694 |
| 7/16/2025 | CHD | CHURCH & DWIGHT CO INC | 0.04% | 111,912.22 | BBG000BFJT36 | 1,162 |
| 7/16/2025 | CHRW | C.H. ROBINSON WORLDWIDE INC | 0.02% | 39,273.94 | BBG000BTCH57 | 401 |
| 7/16/2025 | CHTR | CHARTER COMMUNICATIONS INC-A | 0.17% | 431,248.32 | BBG000VPGNR2 | 1,136 |
| 7/16/2025 | CI | CIGNA CORP | 0.08% | 215,297.28 | BBG00KXRCDP0 | 704 |
| 7/16/2025 | CL | COLGATE-PALMOLIVE CO | 0.11% | 284,719.68 | BBG000BFQYY3 | 3,248 |
| 7/16/2025 | CMCSA | COMCAST CORP-CLASS A | 0.27% | 712,458.40 | BBG000BFT2L4 | 20,711 |
| 7/16/2025 | CMI | CUMMINS INC | 0.14% | 360,083.94 | BBG000BGPTV6 | 1,042 |
| 7/16/2025 | CNC | CENTENE CORP | 0.02% | 41,570.47 | BBG000BDXCJ5 | 1,367 |
| 7/16/2025 | COF | CAPITAL ONE FINANCIAL CORP | 0.18% | 472,881.46 | BBG000BGKTF9 | 2,183 |
| 7/16/2025 | COP | CONOCOPHILLIPS | 0.24% | 620,803.84 | BBG000BQQH30 | 6,784 |
| 7/16/2025 | COR | Cencora, Inc. | 0.33% | 867,280.96 | BBG000MDCQC2 | 2,912 |
| 7/16/2025 | CPT | CAMDEN PROPERTY TRUST | 0.01% | 34,115.90 | BBG000BB0V03 | 299 |
| 7/16/2025 | CRL | Charles River Laboratories Int | 0.01% | 32,692.34 | BBG000BG5BL8 | 211 |
| 7/16/2025 | CRM | SALESFORCE.COM INC | 0.25% | 654,677.10 | BBG000BN2DC2 | 2,538 |
| 7/16/2025 | CSX | CSX CORP | 0.20% | 528,069.02 | BBG000BGJRC8 | 15,877 |
| 7/16/2025 | CTAS | CINTAS CORP | 0.07% | 194,330.16 | BBG000H3YXF8 | 908 |
| 7/16/2025 | CTSH | COGNIZANT TECH SOLUTIONS-A | 0.07% | 184,156.63 | BBG000BBDV81 | 2,461 |
| 7/16/2025 | CTVA | CORTEVA INC-W/I | 0.02% | 59,843.60 | BBG00BN969C1 | 820 |
| 7/16/2025 | CVS | CVS HEALTH CORP | 0.03% | 73,880.40 | BBG000BGRY34 | 1,158 |
| 7/16/2025 | CVX | CHEVRON CORP | 0.30% | 790,678.08 | BBG000K4ND22 | 5,274 |
| 7/16/2025 | CZR | CAESARS ENTERTAINMENT INC COMMON STOCK | 0.01% | 34,170.00 | BBG0074Q3NK6 | 1,139 |
| 7/16/2025 | DAL | DELTA AIR LINES INC | 0.13% | 345,027.60 | BBG000R7Z112 | 6,210 |
| 7/16/2025 | DE | DEERE & CO | 0.23% | 595,567.29 | BBG000BH1NH9 | 1,173 |
| 7/16/2025 | DECK | DECKERS OUTDOOR CORP | 0.04% | 112,659.88 | BBG000BKXYX5 | 1,151 |
| 7/16/2025 | DELL | DELL TECHNOLOGIES - CLASS C | 0.36% | 948,894.03 | BBG00DW3SZS1 | 7,679 |
| 7/16/2025 | DG | DOLLAR GEN CORP NEW | 0.04% | 95,909.64 | BBG000NV1KK7 | 852 |
| 7/16/2025 | DHI | DR HORTON INC | 0.14% | 353,630.39 | BBG000DQTXY6 | 2,689 |
| 7/16/2025 | DLTR | DOLLAR TREE INC | 0.03% | 90,840.24 | BBG000BSC0K9 | 852 |
| 7/16/2025 | DOC | HEALTHPEAK PROPERTIES INC | 0.05% | 138,757.74 | BBG000BKYDP9 | 7,599 |
| 7/16/2025 | DOV | DOVER CORP | 0.04% | 96,549.76 | BBG000BHB3M6 | 514 |
| 7/16/2025 | DOW | DOW INC | 0.01% | 19,669.86 | BBG00BN96922 | 699 |
| 7/16/2025 | DPZ | Dominos Pizza INC | 0.11% | 287,090.10 | BBG000P458P3 | 617 |
| 7/16/2025 | DRI | DARDEN RESTAURANTS INC | 0.03% | 87,673.25 | BBG000BBNYF6 | 421 |
| 7/16/2025 | DVA | DAVITA INC | 0.05% | 140,780.88 | BBG000MQ1SN9 | 1,004 |
| 7/16/2025 | EA | ELECTRONIC ARTS INC | 0.04% | 101,707.35 | BBG000BP0KQ8 | 681 |
| 7/16/2025 | EBAY | EBAY INC | 0.08% | 203,145.72 | BBG000C43RR5 | 2,641 |
| 7/16/2025 | EFX | EQUIFAX INC | 0.06% | 152,226.71 | BBG000BHPL78 | 587 |
| 7/16/2025 | EG | EVEREST RE GROUP LTD | 0.03% | 65,054.36 | BBG000C1XVK6 | 196 |
| 7/16/2025 | EMN | EASTMAN CHEMICAL CO | 0.00% | 10,003.95 | BBG000BLW530 | 129 |
| 7/16/2025 | EMR | EMERSON ELECTRIC CO | 0.03% | 68,466.40 | BBG000BHX7N2 | 488 |
| 7/16/2025 | ENPH | ENPHASE ENERGY INC | 0.01% | 27,086.82 | BBG001R3MNY9 | 694 |
| 7/16/2025 | EOG | EOG RESOURCES INC | 0.16% | 410,335.20 | BBG000BZ9223 | 3,454 |
| 7/16/2025 | EPAM | EPAM SYSTEMS INC | 0.01% | 22,189.72 | BBG000MHTV89 | 133 |
| 7/16/2025 | EQR | EQUITY RESIDENTIAL | 0.02% | 39,835.25 | BBG000BG8M31 | 595 |
| 7/16/2025 | ESS | ESSEX PROPERTY TRUST INC | 0.00% | 7,724.16 | BBG000CGJMB9 | 27 |
| 7/16/2025 | ETN | EATON CORP PLC | 0.16% | 427,484.42 | BBG000BJ3PD2 | 1,178 |
| 7/16/2025 | EW | EDWARDS LIFESCIENCES CORP | 0.09% | 232,683.84 | BBG000BRXP69 | 3,056 |
| 7/16/2025 | EXPD | EXPEDITORS INTL WASH INC | 0.01% | 37,944.48 | BBG000BJ5GK2 | 336 |
| 7/16/2025 | EXPE | EXPEDIA GROUP INC | 0.10% | 256,752.00 | BBG000QY3XZ2 | 1,440 |
| 7/16/2025 | EXR | EXTRA SPACE STORAGE INC | 0.01% | 29,790.00 | BBG000PV27K3 | 200 |
| 7/16/2025 | FCX | FREEPORT-MCMORAN INC | 0.16% | 409,365.84 | BBG000BJDB15 | 9,308 |
| 7/16/2025 | FDS | FACTSET RESEARCH SYSTEMS INC | 0.05% | 137,443.95 | BBG000BDJL83 | 315 |
| 7/16/2025 | FDX | FEDEX CORP | 0.05% | 127,642.50 | BBG000BJF1Z8 | 558 |
| 7/16/2025 | FFIV | F5 Inc | 0.02% | 51,589.12 | BBG000CXYSZ6 | 176 |
| 7/16/2025 | FI | FISERV INC | 0.69% | 1,802,924.80 | BBG000BJKPG0 | 10,880 |
| 7/16/2025 | FICO | FAIR ISAAC CORP | 0.14% | 358,062.75 | BBG000DW76Y6 | 233 |
| 7/16/2025 | FIS | FIDELITY NATIONAL INFO SERV | 0.04% | 101,409.30 | BBG000BK2F42 | 1,278 |
| 7/16/2025 | FITB | FIFTH THIRD BANCORP | 0.02% | 47,656.35 | BBG000BJL3N0 | 1,107 |
| 7/16/2025 | FOXA | FOX CORP - CLASS A | 0.06% | 159,523.20 | BBG00JHNJW99 | 2,865 |
| 7/16/2025 | FRT | FEDERAL REALTY INVS TRUST | 0.01% | 21,415.18 | BBG000BJVN28 | 227 |
| 7/16/2025 | FTNT | FORTINET INC | 0.19% | 485,030.16 | BBG000BCMBG4 | 4,689 |
| 7/16/2025 | FTV | FORTIVE CORP | 0.05% | 127,309.60 | BBG00BLVZ228 | 2,530 |
| 7/16/2025 | GD | GENERAL DYNAMICS CORP | 0.12% | 312,900.00 | BBG000BK67C7 | 1,043 |
| 7/16/2025 | GDDY | GODADDY INC - CLASS A | 0.04% | 108,851.28 | BBG006MDLY05 | 647 |
| 7/16/2025 | GEHC | GE HEALTHCARE TECHNOLOG-W/I | 0.12% | 316,361.85 | BBG01BFR8YV1 | 4,193 |
| 7/16/2025 | GEN | GEN DIGITAL INC | 0.04% | 116,267.46 | BBG000BH2JM1 | 3,873 |
| 7/16/2025 | GILD | GILEAD SCIENCES INC | 0.57% | 1,494,619.10 | BBG000CKGBP2 | 13,606 |
| 7/16/2025 | GIS | GENERAL MILLS INC | 0.04% | 103,586.12 | BBG000BKCFC2 | 2,068 |
| 7/16/2025 | GL | GLOBE LIFE INC | 0.03% | 72,299.70 | BBG000BVD6X4 | 603 |
| 7/16/2025 | GLW | CORNING INC | 0.03% | 91,320.28 | BBG000BKFZM4 | 1,724 |
| 7/16/2025 | GNRC | GENERAC HOLDINGS INC | 0.02% | 43,135.68 | BBG000PQ4W72 | 294 |
| 7/16/2025 | GOOGL | ALPHABET INC-CL A | 6.54% | 17,055,548.55 | BBG009S39JX6 | 93,215 |
| 7/16/2025 | GPC | GENUINE PARTS CO | 0.04% | 93,138.00 | BBG000BKL348 | 760 |
| 7/16/2025 | GPN | GLOBAL PAYMENTS INC | 0.10% | 251,782.36 | BBG000CX0P89 | 3,046 |
| 7/16/2025 | GRMN | GARMIN LTD | 0.07% | 184,368.00 | BBG000C4LN67 | 835 |
| 7/16/2025 | GWW | WW GRAINGER INC | 0.11% | 287,983.05 | BBG000BKR1D6 | 277 |
| 7/16/2025 | HAL | HALLIBURTON CO | 0.05% | 128,969.28 | BBG000BKTFN2 | 6,072 |
| 7/16/2025 | HAS | HASBRO INC | 0.02% | 42,211.52 | BBG000BKVJK4 | 556 |
| 7/16/2025 | HCA | HCA HEALTHCARE INC | 0.36% | 941,620.26 | BBG000QW7VC1 | 2,597 |
| 7/16/2025 | HD | HOME DEPOT INC | 0.71% | 1,850,617.20 | BBG000BKZB36 | 5,178 |
| 7/16/2025 | HES | HESS CORP | 0.07% | 174,404.10 | BBG000BBD070 | 1,182 |
| 7/16/2025 | HIG | HARTFORD FINANCIAL SVCS GRP | 0.08% | 206,019.95 | BBG000G0Z878 | 1,709 |
| 7/16/2025 | HLT | HILTON WORLDWIDE | 0.44% | 1,135,720.91 | BBG0058KMH30 | 4,153 |
| 7/16/2025 | HOLX | HOLOGIC INC | 0.02% | 58,942.78 | BBG000C3NTN5 | 923 |
| 7/16/2025 | HPQ | HP INC | 0.14% | 363,438.88 | BBG000KHWT55 | 14,798 |
| 7/16/2025 | HSIC | HENRY SCHEIN INC | 0.01% | 30,639.44 | BBG000BNMMJ3 | 442 |
| 7/16/2025 | HSY | HERSHEY CO/THE | 0.07% | 184,146.67 | BBG000BLHRS2 | 1,121 |
| 7/16/2025 | HUBB | HUBBELL INC | 0.04% | 102,094.48 | BBG000BLK267 | 244 |
| 7/16/2025 | HUM | HUMANA INC | 0.01% | 27,187.20 | BBG000BLKK03 | 120 |
| 7/16/2025 | IBM | International Business Machines Corporation | 0.37% | 969,804.80 | BBG000BLNNH6 | 3,440 |
| 7/16/2025 | ICE | INTERCONTINENTAL EXCHANGE IN | 0.24% | 615,985.60 | BBG000C1FB75 | 3,407 |
| 7/16/2025 | IDXX | IDEXX LABS | 0.13% | 327,959.10 | BBG000BLRT07 | 630 |
| 7/16/2025 | INCY | Incyte Corp. | 0.05% | 133,960.05 | BBG000BNPSQ9 | 1,935 |
| 7/16/2025 | INVH | INVITATION HOMES INC REIT USD.01 | 0.01% | 19,551.47 | BBG00FQH6BS9 | 607 |
| 7/16/2025 | IP | INTERNATIONAL PAPER CO | 0.03% | 87,654.61 | BBG000BM5SR2 | 1,709 |
| 7/16/2025 | IPG | Interpublic Group of Companies Inc. | 0.03% | 75,978.00 | BBG000C90DH9 | 3,015 |
| 7/16/2025 | IQV | IQVIA HOLDINGS INC COMMON STOCK USD.01 | 0.16% | 428,486.64 | BBG00333FYS2 | 2,701 |
| 7/16/2025 | IT | Gartner Inc | 0.14% | 366,852.22 | BBG000BB65D0 | 1,009 |
| 7/16/2025 | ITW | ILLINOIS TOOL WORKS | 0.12% | 325,134.12 | BBG000BMBL90 | 1,266 |
| 7/16/2025 | J | JACOBS SOLUTIONS INC COMMON STOCK | 0.03% | 90,764.07 | BBG019C1BQR4 | 659 |
| 7/16/2025 | JBHT | JB Hunt Transport Services, Inc. | 0.02% | 52,246.80 | BBG000BMDBZ1 | 345 |
| 7/16/2025 | JBL | JABIL CIRCUIT INC | 0.03% | 72,035.70 | BBG000BJNGN9 | 330 |
| 7/16/2025 | JCI | JOHNSON CONTROLS | 0.02% | 59,218.56 | BBG000BVWLJ6 | 552 |
| 7/16/2025 | JKHY | JACK HENRY | 0.02% | 55,380.00 | BBG000BMH2Q7 | 312 |
| 7/16/2025 | JNJ | JOHNSON & JOHNSON | 1.64% | 4,277,359.24 | BBG000BMHYD1 | 25,958 |
| 7/16/2025 | KDP | KEURIG DR PEPPER INC | 0.08% | 218,953.53 | BBG000TJM7F0 | 6,593 |
| 7/16/2025 | KEYS | KEYSIGHT TEC | 0.05% | 138,144.12 | BBG0059FN811 | 862 |
| 7/16/2025 | KHC | KRAFT HEINZ CO/THE | 0.06% | 166,914.16 | BBG005CPNTQ2 | 6,052 |
| 7/16/2025 | KLAC | KLA CORPORATION | 0.52% | 1,359,161.44 | BBG000BMTFR4 | 1,456 |
| 7/16/2025 | KMI | KINDER MORGAN INC | 0.04% | 114,375.18 | BBG0019JZ882 | 4,098 |
| 7/16/2025 | KO | COCA-COLA CO/THE | 0.47% | 1,221,230.10 | BBG000BMX289 | 17,630 |
| 7/16/2025 | KR | KROGER CO | 0.07% | 188,188.47 | BBG000BMY992 | 2,617 |
| 7/16/2025 | KVUE | KENVUE INC | 0.05% | 117,749.65 | BBG01C79X561 | 5,389 |
| 7/16/2025 | L | LOEWS CORP | 0.01% | 38,649.50 | BBG000C45984 | 425 |
| 7/16/2025 | LDOS | LEIDOS HOLDINGS INC | 0.09% | 236,728.80 | BBG000C23PB0 | 1,470 |
| 7/16/2025 | LEN | LENNAR CORP-A | 0.05% | 131,206.57 | BBG000BN5HF7 | 1,199 |
| 7/16/2025 | LHX | L3HARRIS TECHNOLOGIES INC | 0.10% | 264,978.30 | BBG000BLGFJ9 | 1,005 |
| 7/16/2025 | LII | LENNOX INTERNATIONAL INC | 0.05% | 130,778.04 | BBG000BB5B84 | 219 |
| 7/16/2025 | LKQ | LKQ CORP | 0.02% | 57,967.20 | BBG000PXDL44 | 1,552 |
| 7/16/2025 | LMT | LOCKHEED MARTIN CORP | 0.17% | 439,410.04 | BBG000C1BW00 | 932 |
| 7/16/2025 | LOW | LOWES COS INC | 0.46% | 1,210,144.20 | BBG000BNDN65 | 5,587 |
| 7/16/2025 | LRCX | LAM RESH CORP | 0.44% | 1,153,753.15 | BBG000BNFLM9 | 11,495 |
| 7/16/2025 | LULU | LULULEMON ATHLETICA INC | 0.12% | 324,241.74 | BBG000R8ZVD1 | 1,434 |
| 7/16/2025 | LUV | SOUTHWEST AIRLINES CO | 0.01% | 31,237.35 | BBG000BNJHS8 | 835 |
| 7/16/2025 | LVS | LAS VEGAS SANDS CORP | 0.07% | 176,586.40 | BBG000JWD753 | 3,595 |
| 7/16/2025 | LW | LAMB WESTON | 0.02% | 52,950.00 | BBG003CVMLQ2 | 1,059 |
| 7/16/2025 | LYB | LYONDELLBASELL INDUSTRIES NV COMMON STOCK USD 0.04 | 0.04% | 106,800.62 | BBG000WCFV84 | 1,711 |
| 7/16/2025 | LYV | LIVE NATION ENTERTAINMENT IN | 0.03% | 90,639.90 | BBG000FQ7YR4 | 610 |
| 7/16/2025 | MA | MASTERCARD INC - A | 4.21% | 10,965,964.80 | BBG000F1ZSQ2 | 19,740 |
| 7/16/2025 | MAA | MID-AMERICA APARTMENT COMM | 0.02% | 46,010.16 | BBG000BLMY92 | 306 |
| 7/16/2025 | MAR | Marriott International, Inc Class A | 0.50% | 1,303,977.60 | BBG000BGD7W6 | 4,766 |
| 7/16/2025 | MAS | MASCO CORP | 0.06% | 159,201.00 | BBG000BNNKG9 | 2,450 |
| 7/16/2025 | MCD | MCDONALDS CORP | 0.41% | 1,072,752.10 | BBG000BNSZP1 | 3,589 |
| 7/16/2025 | MCHP | MICROCHIP TECHNOLOGY INC | 0.18% | 462,210.30 | BBG000BHCP19 | 6,210 |
| 7/16/2025 | MCK | MCKESSON CORP | 0.52% | 1,352,748.60 | BBG000DYGNW7 | 1,890 |
| 7/16/2025 | MCO | Moodys Corporation | 0.46% | 1,210,056.37 | BBG000F86GP6 | 2,419 |
| 7/16/2025 | MDLZ | MONDELEZ INTERNATIONAL INC-A | 0.13% | 344,569.29 | BBG000D4LWF6 | 5,107 |
| 7/16/2025 | MDT | MEDTRONIC PLC | 0.13% | 340,266.20 | BBG000BNWG87 | 3,790 |
| 7/16/2025 | MET | METLIFE INC | 0.15% | 384,252.03 | BBG000BB6KF5 | 5,017 |
| 7/16/2025 | META | META PLATFORMS INC | 4.49% | 11,704,154.41 | BBG000MM2P62 | 16,651 |
| 7/16/2025 | MGM | MGM Resorts International | 0.04% | 106,939.10 | BBG000C2BXK4 | 2,867 |
| 7/16/2025 | MHK | MOHAWK INDUSTRIES INC | 0.00% | 5,555.43 | BBG000FLZN98 | 51 |
| 7/16/2025 | MKC | MCCORMICK-N/V | 0.02% | 41,685.92 | BBG000G6Y5W4 | 584 |
| 7/16/2025 | MNST | MONSTER BEVERAGE CORP | 0.12% | 303,161.85 | BBG008NVB1C0 | 5,169 |
| 7/16/2025 | MO | ALTRIA GROUP INC | 0.21% | 536,508.90 | BBG000BP6LJ8 | 9,115 |
| 7/16/2025 | MOH | Molina Healthcare Inc | 0.03% | 84,695.52 | BBG000MBHNC8 | 392 |
| 7/16/2025 | MOS | MOSAIC CO/THE | 0.01% | 19,997.76 | BBG000BFXHL6 | 563 |
| 7/16/2025 | MPC | MARATHON PETROLEUM CORP | 0.13% | 342,499.19 | BBG001DCCGR8 | 1,987 |
| 7/16/2025 | MRK | MERCK & CO. INC. | 1.20% | 3,138,110.10 | BBG000BPD168 | 38,070 |
| 7/16/2025 | MSFT | MICROSOFT CORP | 7.45% | 19,410,246.18 | BBG000BPH459 | 38,389 |
| 7/16/2025 | MSI | MOTOROLA SOLUTIONS INC | 0.14% | 364,253.75 | BBG000BP8Z50 | 875 |
| 7/16/2025 | MTB | M & T BANK CORP | 0.01% | 27,530.36 | BBG000D9KWL9 | 143 |
| 7/16/2025 | MTCH | MATCH GROUP INC | 0.04% | 97,239.96 | BBG00VT0KNC3 | 3,018 |
| 7/16/2025 | MTD | METTLER-TOLEDO | 0.16% | 426,312.00 | BBG000BZCKH3 | 360 |
| 7/16/2025 | NCLH | NORWEGIAN CRUISE LINE HOLDIN | 0.05% | 136,755.65 | BBG000BSRN78 | 5,933 |
| 7/16/2025 | NDAQ | NASDAQ INC | 0.18% | 471,555.84 | BBG000F5VVB6 | 5,296 |
| 7/16/2025 | NEM | NEWMONT GOLDCORP CORPORATION COM | 0.08% | 216,498.80 | BBG000BPWXK1 | 3,704 |
| 7/16/2025 | NKE | NIKE INC -CL B | 0.21% | 539,596.40 | BBG000C5HS04 | 7,484 |
| 7/16/2025 | NOC | NORTHROP GRUMMAN CORP | 0.10% | 251,534.80 | BBG000BQ2C28 | 484 |
| 7/16/2025 | NRG | NRG ENERGY INC | 0.17% | 446,186.88 | BBG000D8RG11 | 3,078 |
| 7/16/2025 | NSC | NORFOLK SOUTHERN CORP | 0.13% | 345,444.64 | BBG000BQ5DS5 | 1,327 |
| 7/16/2025 | NTAP | NETAPP INC | 0.04% | 113,117.76 | BBG000FP1N32 | 1,086 |
| 7/16/2025 | NTRS | NORTHERN TRUST CORP | 0.02% | 55,290.83 | BBG000BQ74K1 | 443 |
| 7/16/2025 | NUE | NUCOR CORP | 0.04% | 94,661.73 | BBG000BQ8KV2 | 687 |
| 7/16/2025 | NVDA | NVIDIA CORP | 9.73% | 25,371,671.24 | BBG000BBJQV0 | 148,052 |
| 7/16/2025 | NVR | NVR INC | 0.11% | 287,667.51 | BBG000BQBYR3 | 39 |
| 7/16/2025 | NXPI | NXP Semiconductors NV | 0.09% | 227,417.98 | BBG000BND699 | 1,031 |
| 7/16/2025 | ODFL | Old Dominion Freight Line Inc. | 0.04% | 91,994.76 | BBG000CHSS88 | 572 |
| 7/16/2025 | OMC | OMNICOM GROUP | 0.06% | 160,096.10 | BBG000BS9489 | 2,162 |
| 7/16/2025 | ON | ON Semiconductor Corporation | 0.08% | 200,760.96 | BBG000DV7MX4 | 3,373 |
| 7/16/2025 | ORCL | ORACLE CORP | 1.29% | 3,352,863.50 | BBG000BQLTW7 | 13,895 |
| 7/16/2025 | ORLY | OREILLY AUTOMOTIVE INC | 0.48% | 1,245,426.00 | BBG000BGYWY6 | 13,650 |
| 7/16/2025 | OTIS | OTIS WORLDWIDE CORP-W/I | 0.22% | 570,934.60 | BBG00RP60KV0 | 5,690 |
| 7/16/2025 | PAYX | PAYCHEX INC | 0.05% | 120,912.50 | BBG000BQSQ38 | 850 |
| 7/16/2025 | PCAR | PACCAR INC | 0.08% | 199,555.88 | BBG000BQVTF5 | 2,092 |
| 7/16/2025 | PEP | PEPSICO INC | 0.30% | 783,270.45 | BBG000DH7JK6 | 5,787 |
| 7/16/2025 | PFE | PFIZER INC | 0.29% | 758,701.69 | BBG000BR2B91 | 30,829 |
| 7/16/2025 | PFG | PRINCIPAL FINANCIAL GROUP | 0.02% | 43,661.54 | BBG000NSCNT7 | 547 |
| 7/16/2025 | PG | PROCTER & GAMBLE CO/THE | 0.56% | 1,458,743.97 | BBG000BR2TH3 | 9,489 |
| 7/16/2025 | PGR | PROGRESSIVE CORP | 0.44% | 1,157,376.16 | BBG000BR37X2 | 4,696 |
| 7/16/2025 | PH | PARKER-HANNIFIN CORP COMMON STOCK USD 0.5 | 0.15% | 382,098.36 | BBG000BR3KL6 | 538 |
| 7/16/2025 | PHM | PULTEGROUP INC | 0.09% | 244,263.15 | BBG000BR54L0 | 2,235 |
| 7/16/2025 | PLD | PROLOGIS INC | 0.03% | 78,991.89 | BBG000B9Z0J8 | 717 |
| 7/16/2025 | PM | PHILIP MORRIS INTERNATIONAL | 0.60% | 1,561,826.94 | BBG000J2XL74 | 8,522 |
| 7/16/2025 | PNC | PNC FINANCIAL SERVICES GROUP | 0.07% | 173,955.21 | BBG000BRD0D8 | 897 |
| 7/16/2025 | PNR | Pentair plc | 0.05% | 139,686.84 | BBG000C221G9 | 1,332 |
| 7/16/2025 | PPG | PPG INDUSTRIES INC | 0.05% | 127,473.71 | BBG000BRJ809 | 1,103 |
| 7/16/2025 | PSA | PUBLIC STORAGE | 0.06% | 157,338.05 | BBG000BPPN67 | 551 |
| 7/16/2025 | PSX | PHILLIPS 66 | 0.05% | 133,316.26 | BBG00286S4N9 | 1,078 |
| 7/16/2025 | PWR | QUANTA SERVICES INC | 0.07% | 184,053.76 | BBG000BBL8V7 | 473 |
| 7/16/2025 | PYPL | PAYPAL HOLDINGS INC | 0.27% | 697,739.14 | BBG0077VNXV6 | 9,562 |
| 7/16/2025 | QCOM | QUALCOMM INC | 0.38% | 988,204.98 | BBG000CGC1X8 | 6,414 |
| 7/16/2025 | RAL-W | RALLIANT CORP RAL-W | 0.02% | 40,025.64 | BBG01V4YRP24 | 843 |
| 7/16/2025 | RCL | ROYAL CARIBBEAN CRUISES LTD | 0.23% | 590,599.43 | BBG000BB5792 | 1,741 |
| 7/16/2025 | REG | REGENCY CENTERS CORP | 0.00% | 12,566.83 | BBG000BL46Q4 | 181 |
| 7/16/2025 | REGN | REGENERON PHARMACEUTICALS | 0.21% | 557,244.81 | BBG000C734W3 | 1,017 |
| 7/16/2025 | RL | RALPH LAUREN CORP | 0.03% | 78,289.75 | BBG000BS0ZF1 | 275 |
| 7/16/2025 | RMD | RESMED INC | 0.07% | 179,500.50 | BBG000L4M7F1 | 706 |
| 7/16/2025 | ROK | ROCKWELL AUTOMATION INC | 0.04% | 112,534.40 | BBG000BBCDZ2 | 320 |
| 7/16/2025 | RTX | RTX Corp. | 0.23% | 599,929.15 | BBG000BW8S60 | 3,995 |
| 7/16/2025 | RVTY | Revvity Inc. | 0.01% | 25,812.80 | BBG000FXW512 | 272 |
| 7/16/2025 | SHW | SHERWIN-WILLIAMS CO/THE | 0.28% | 732,738.16 | BBG000BSXQV7 | 2,156 |
| 7/16/2025 | SLB | SCHLUMBERGER LTD | 0.09% | 246,834.24 | BBG000BT41Q8 | 7,136 |
| 7/16/2025 | SNA | SNAP-ON INC | 0.04% | 98,911.16 | BBG000BT7JW9 | 316 |
| 7/16/2025 | SNPS | SYNOPSYS INC | 0.11% | 293,596.80 | BBG000BSFRF3 | 514 |
| 7/16/2025 | SO | THE SOUTHERN COMPANY | 0.13% | 337,559.40 | BBG000BT9DW0 | 3,618 |
| 7/16/2025 | SOLV | SOLVENTUM CORP W/I COMMON STOCK | 0.04% | 93,332.34 | BBG018YZH6T3 | 1,278 |
| 7/16/2025 | SPG | SIMON PROPERTY GROUP INC | 0.16% | 408,680.57 | BBG000BJ2D31 | 2,531 |
| 7/16/2025 | SPGI | S&P GLOBAL INC | 0.27% | 716,800.12 | BBG000BP1Q11 | 1,367 |
| 7/16/2025 | STLD | Steel Dynamics Inc | 0.04% | 102,868.29 | BBG000HGYNZ9 | 807 |
| 7/16/2025 | STZ | CONSTELLATION BRANDS INC-A | 0.12% | 311,358.24 | BBG000J1QLT0 | 1,852 |
| 7/16/2025 | SWKS | SKYWORKS SOLUTIONS INC | 0.01% | 24,119.97 | BBG000KLB4Q1 | 331 |
| 7/16/2025 | SYF | SYNCHRONY FINANCIAL | 0.10% | 267,428.70 | BBG00658F3P3 | 3,859 |
| 7/16/2025 | SYK | STRYKER CORP | 0.33% | 866,167.92 | BBG000DN7P92 | 2,216 |
| 7/16/2025 | SYY | SYSCO CORP | 0.06% | 157,923.90 | BBG000BTVJ25 | 2,043 |
| 7/16/2025 | T | AT&T INC | 0.20% | 527,627.10 | BBG000BSJK37 | 19,578 |
| 7/16/2025 | TAP | MOLSON COORS BREWING CO - Class B | 0.01% | 32,639.76 | BBG000BS7KS3 | 657 |
| 7/16/2025 | TDY | TELEDYNE TECH | 0.02% | 52,385.82 | BBG000BMT9T6 | 97 |
| 7/16/2025 | TECH | BIO-TECHNE CORP | 0.01% | 20,612.42 | BBG000C15114 | 398 |
| 7/16/2025 | TEL | TE CONNECTIVITY LTD | 0.06% | 159,271.14 | BBG01Q08MMR1 | 903 |
| 7/16/2025 | TER | TERADYNE INC | 0.01% | 38,539.62 | BBG000BV4DR6 | 419 |
| 7/16/2025 | TGT | TARGET CORP | 0.13% | 328,746.96 | BBG000H8TVT2 | 3,244 |
| 7/16/2025 | TKO | TKO GROUP HOLDINGS INC COMMON STOCK USD.00001 | 0.01% | 32,980.35 | BBG01G9JKWV5 | 195 |
| 7/16/2025 | TMO | THERMO FISHER SCIENTIFIC INC | 0.43% | 1,131,946.89 | BBG000BVDLH9 | 2,719 |
| 7/16/2025 | TMUS | T-MOBILE US INC | 0.36% | 933,030.46 | BBG000NDV1D4 | 4,079 |
| 7/16/2025 | TROW | T ROWE PRICE GROUP INC | 0.05% | 125,721.00 | BBG000BVMPN3 | 1,220 |
| 7/16/2025 | TRV | The Travelers Companies Inc. | 0.05% | 122,312.15 | BBG000BJ81C1 | 485 |
| 7/16/2025 | TT | TRANE TECHNOLOGIES PLC | 0.21% | 544,914.06 | BBG000BM6788 | 1,247 |
| 7/16/2025 | TXN | TEXAS INSTRUMENTS INC | 0.18% | 476,174.72 | BBG000BVV7G1 | 2,198 |
| 7/16/2025 | TXT | TEXTRON INC | 0.01% | 26,083.40 | BBG000BVVQQ8 | 310 |
| 7/16/2025 | UAL | UNITED AIRLINES HOLDINGS INC | 0.10% | 272,664.54 | BBG000M65M61 | 3,082 |
| 7/16/2025 | UBER | UBER TECHNOLOGIES INC | 0.14% | 359,007.00 | BBG002B04MT8 | 3,956 |
| 7/16/2025 | UDR | UDR INC | 0.02% | 41,280.05 | BBG000C41023 | 1,015 |
| 7/16/2025 | UHS | UNIVERSAL HEALTH SERVICES-B | 0.01% | 34,737.12 | BBG000CB8Q50 | 204 |
| 7/16/2025 | ULTA | Ulta Beauty Inc. | 0.09% | 233,323.48 | BBG00FWQ4VD6 | 481 |
| 7/16/2025 | UNH | UNITEDHEALTH GROUP INC | 0.41% | 1,067,003.52 | BBG000CH5208 | 3,648 |
| 7/16/2025 | UNP | UNION PACIFIC CORP | 0.31% | 816,296.58 | BBG000BW3299 | 3,531 |
| 7/16/2025 | UPS | UNITED PARCEL SERVICE-CL B | 0.07% | 192,186.27 | BBG000L9CV04 | 1,929 |
| 7/16/2025 | URI | UNITED RENTALS INC | 0.20% | 534,176.43 | BBG000BXMFC3 | 669 |
| 7/16/2025 | V | VISA INC-CLASS A SHARES | 4.21% | 10,969,365.00 | BBG000PSKYX7 | 31,350 |
| 7/16/2025 | VICI | VICI PROPERTIES INC REIT | 0.01% | 32,072.13 | BBG00HVVB499 | 971 |
| 7/16/2025 | VLO | VALERO ENERGY CORP | 0.09% | 231,251.85 | BBG000BBGGQ1 | 1,615 |
| 7/16/2025 | VLTO | VERALTO CORP-W/I | 0.07% | 193,079.71 | BBG019Q32XJ9 | 1,921 |
| 7/16/2025 | VRSK | VERISK ANALYTICS INC | 0.04% | 115,768.32 | BBG000BCZL41 | 384 |
| 7/16/2025 | VRSN | VERISIGN INC | 0.13% | 345,022.86 | BBG000BGKHZ3 | 1,218 |
| 7/16/2025 | VRTX | VERTEX PHARMACEUTICALS INC | 0.21% | 549,373.50 | BBG000C1S2X2 | 1,170 |
| 7/16/2025 | VST | VISTRA ENERGY CORP | 0.15% | 395,879.50 | BBG00DXDL6Q1 | 2,150 |
| 7/16/2025 | VTRS | VIATRIS INC | 0.02% | 54,979.40 | BBG00Y4RQNH4 | 6,055 |
| 7/16/2025 | VZ | VERIZON COMMUNICATIONS INC | 0.26% | 684,461.25 | BBG000HS77T5 | 16,593 |
| 7/16/2025 | WAB | WABTEC CORP | 0.10% | 258,290.34 | BBG000BDD940 | 1,221 |
| 7/16/2025 | WAT | WATERS CORP | 0.05% | 125,669.04 | BBG000FQRVM3 | 434 |
| 7/16/2025 | WBA | WALGREENS BOOTS ALLIANCE INC | 0.01% | 20,067.84 | BBG000BWLMJ4 | 1,742 |
| 7/16/2025 | WBD | Warner Bros Discovery Inc | 0.06% | 160,835.30 | BBG011386VF4 | 12,785 |
| 7/16/2025 | WFC | WELLS FARGO & CO | 0.22% | 576,790.38 | BBG000BWQFY7 | 7,218 |
| 7/16/2025 | WMT | WAL-MART STORES INC | 0.92% | 2,392,927.35 | BBG000BWXBC2 | 25,149 |
| 7/16/2025 | WRB | W.R. Berkley Corporation | 0.04% | 112,966.14 | BBG000BD1HP2 | 1,662 |
| 7/16/2025 | WSM | WILLIAMS-SONOMA INC | 0.04% | 102,966.24 | BBG000FSMWC3 | 624 |
| 7/16/2025 | WY | WEYERHAEUSER CO | 0.01% | 22,196.30 | BBG000BX3BL3 | 857 |
| 7/16/2025 | WYNN | WYNN RESORTS LTD | 0.03% | 77,004.85 | BBG000LD9JQ8 | 701 |
| 7/16/2025 | XOM | EXXON MOBIL CORP | 0.75% | 1,967,616.36 | BBG000GZQ728 | 17,532 |
| 7/16/2025 | XYL | Xylem Inc/NY | 0.02% | 43,951.54 | BBG001D8R5D0 | 337 |
| 7/16/2025 | YUM | YUM! BRANDS INC | 0.23% | 599,758.56 | BBG000BH3GZ2 | 4,104 |
| 7/16/2025 | ZBH | ZIMMER BIOMET HOLDINGS INC | 0.03% | 71,795.64 | BBG000BKPL53 | 762 |
| 7/16/2025 | ZTS | ZOETIS INC | 0.22% | 577,367.40 | BBG0039320N9 | 3,810 |
| 7/16/2025 | CASH AND CASH EQUIVALENTS | 0.58% | 1,509,041.75 | |||
| 7/16/2025 | CONTRA ABIOMED INC COMMON STOCK | 0.00% | 0.00 | BBG01F3NM7X5 | 2 |
Portfolio holdings will change and should not be considered investment advice or a recommendation to buy, sell or hold any particular security.
Risk Considerations
Investing involves risk, including the possible loss of principal. Shares of the ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
The prices of securities in the Fund’s portfolio will fluctuate due to market conditions and may affect its value. The fund is subject to the risks of the underlying securities it invests in such as convertible securities in which market value may change based on the issuer’s credit rating or the ability of the issuer to pay interest and dividends. Investments in preferred securities may cause their prices to behave more like those of debt securities. If interest rates rise, the value of preferred stock tends to fall. The price of a warrant and rights may not necessarily move parallel to the price of the underlying security and is generally more volatile.
The Fund is a non-diversified portfolio, which means that it can take larger positions in a smaller number of securities than a portfolio that is diversified. This can increase the risk that the value of the Fund could go down because of the poor performance of a limited number of investments. The Fund was recently organized and has no operating history. As a result, investors have a limited track record on which to base their investment decision.
The Applied Finance Valuation Large Cap ETF is distributed by Foreside Fund Services, LLC, not an adviser affiliate.
Applied Finance Advisors, LLC is the Adviser to the fund.