AFFINITY WORLD LEADERS EQUITY ETF

Fund Strategy

The Fund seeks to passively replicate the TRSAWL Index. The TRSAWL Index consists of equity securities issued and traded in the US as well as international countries. The TRSAWL Index is expected to consist of approximately 150 to 250 stocks in at least 3 countries, but may span more than 20 countries. The Fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities included in the Fund’s benchmark index. The Fund may also invest in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) (collectively “Depositary Receipts”) based on the securities in the TRSAWL Index.

Constituents of the TRSAWL Index are characterized by strong global footprint (measured by market capitalization), rank high on measures of earnings quality, demonstrate improving fundamentals (positive earnings revisions on earnings estimates, revenue estimates, price targets, and analyst recommendations), show stock price momentum, and trade at relatively attractive valuations.

Investment Objective

The Affinity World Leaders Equity ETF ("the Fund") seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the Thomson Reuters StarMine Affinity World Leaders Index (the “TRSAWL Index” or the “Index”).

Investment Philosophy

Market capitalization weighted indices are driven by two factors: a company’s stock price, and the number of its free-floating shares. We believe that an index or portfolio can achieve superior results over the long term by emphasizing other fundamental factors. Affinity has managed active equity portfolios since 1992 using its proprietary, multi-factor model. Using the same general factors from Affinity’s long-standing model, Affinity partnered with Thomson Reuters in 2017 to build a new fundamental-weighted index (the TRSAWL Index). In January of 2018, Affinity launched an Exchange Traded Fund (ticker: WLDR) to track this index.

Fund Facts

Fund Strategy

The Fund seeks to passively replicate the TRSAWL Index. The TRSAWL Index consists of equity securities issued and traded in the US as well as international countries. The TRSAWL Index is expected to consist of approximately 150 to 250 stocks in at least 3 countries, but may span more than 20 countries. The Fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities included in the Fund’s benchmark index. The Fund may also invest in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) (collectively “Depositary Receipts”) based on the securities in the TRSAWL Index.

Constituents of the TRSAWL Index are characterized by strong global footprint (measured by market capitalization), rank high on measures of earnings quality, demonstrate improving fundamentals (positive earnings revisions on earnings estimates, revenue estimates, price targets, and analyst recommendations), show stock price momentum, and trade at relatively attractive valuations.

Investment Objective

The fund seeks to provide capital growth and income.

Investment Philosophy

Market capitalization weighted indices are driven by two factors: a company’s stock price, and the number of its free-floating shares. We believe that an index or portfolio can achieve superior results over the long term by emphasizing other fundamental factors. Affinity has managed active equity portfolios since 1992 using its proprietary, multi-factor model. Using the same general factors from Affinity’s long-standing model, Affinity partnered with Thomson Reuters in 2017 to build a new fundamental-weighted index (the TRSAWL Index). In January of 2018, Affinity launched an Exchange Traded Fund (ticker: WLDR) to track this index.

Fund Facts