CANNABIS GROWTH ETF

Providing investors access to a growing, emerging industry via a
professionally managed ETF

OVERVIEW

The Cannabis Growth ETF is one of the first to invest primarily in companies related to the cannabis industry.

Strategy

Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in exchange-traded equity securities of companies around the globe engaged in legal cannabis-related businesses (“Cannabis Companies”). For purposes of this investment policy, the Fund may invest in shares of exchange-traded funds (ETFs) that have a policy to invest at least 80% of their assets in securities of Cannabis Companies and in derivatives that have economic characteristics similar to such securities.1,2

Why Professional Management?

Today the cannabis industry is growing quickly, with a universe of over 300 small-, mid- and large-cap companies that participate in medicinal or recreational use of cannabis. As this new industry changes and expands, we believe active management has advantages over purchasing individual companies or a passive ETF. In our opinion, knowledgeable and dedicated professionals help investors mitigate inherent volatility and identify favorable growth opportunities, such as initial public offerings. The Fund also has the flexibility to use options in an attempt to enhance the Fund’s return and reduce volatility.

Asset Allocation and the Cannabis Growth ETF

The ETF is a specialty and actively managed portfolio focused on investing in the cannabis industry, providing potentially small-cap, aggressive growth exposure. When including the ETF in an overall portfolio, investors should consider their long-term objectives and goals and place the Fund appropriately within an equity portfolio.3

1 The companies are engaged exclusively in legal activities under national and local laws, including U.S. federal and state law, as applicable. Controlled substance legislation differs between countries, which may limit the ability of cannabis industry companies to sell their products.

2 Pronouncements from the current Administration suggest the Department of Justice may take action against states to prevent them from implementing laws that authorize medical marijuana use, possession, distribution, and cultivation. This action may have a material effect on investment in companies involved in the cannabis industry.

3 Fund investments will be concentrated in an industry or group of industries, and the value of Fund shares may rise and fall more than more diversified funds.

HOLDINGS

as of 4/29/2022

Net Assets % Ticker Name Description Market Price ($) Shares Held Market Value ($) CUSIP
100.00% CASH CASH 3118753.8 3118753.8 CASH

1st QUARTER 2022 PREMIUM/DISCOUNT

 

Days traded at premium
47
Days traded at discount
14
 

PREMIUM/DISCOUNT

 

PREMIUM/DISCOUNT
Since Inception of ETF
(September 27, 2021)
Days traded at premium
119
Days traded at discount
24
 
Chart by Visualizer

As of October 7, 2021, the PREMIUM (market price versus the net asset value) was 2% higher for more than 7 consecutive trading days. The Fund launched on September 27, 2021, and the higher PREMIUM was due to increased demand and a limited number of outstanding shares.

As of October 29, 2021, the PREMIUM (market price versus the net asset value) was 2% higher for more than 7 consecutive trading days. The Fund launched on September 27, 2021, and the higher PREMIUM was due to increased demand and a limited number of outstanding shares.

As of December 3, 2021, the PREMIUM (market price versus the net asset value) was 2% higher for more than 7 consecutive trading days. The Fund launched on September 27, 2021, and the higher PREMIUM was due to increased demand and a limited number of outstanding shares.

As of December 14, 2021, the PREMIUM (market price versus the net asset value) was 2% higher for more than 7 consecutive trading days. The Fund launched on September 27, 2021, and the higher PREMIUM was due to increased demand and a limited number of outstanding shares.

As of January 13, 2022, the PREMIUM (market price versus the net asset value) was 2% higher for more than 7 consecutive trading days. The Fund launched on September 27, 2021, and the higher PREMIUM was due to increased demand and a limited number of outstanding shares.

As of March 10, 2022, the PREMIUM (market price versus the net asset value) was 2% higher for more than 7 consecutive trading days. The Fund launched on September 27, 2021, and the higher PREMIUM was due to increased demand and a limited number of outstanding shares.

* “Other expenses” and “Acquired fund fees and expenses” have been estimated for the current fiscal year. Actual expenses may differ from estimates.

The Fund’s advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (excluding any taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, and extraordinary expenses such as litigation expenses) do not exceed 0.65% of the Fund’s average daily net assets. This agreement is in effect until May 31, 2031, and it may be terminated before that date only by the Trust’s Board of Trustees.

**The ETF’s 30 Day Median Bid-Ask Spread is calculated by identifying the ETF’s national best bid and national best offer (“NBBO”) as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

The Facts

 
Symbol
BUDX
Primary Exchange
NYSE
CUSIP
46141T 125
Annual Operating Expense
Gross Annual Operating Expenses
11.95%*
Net Annual Operating Expenses
0.79%*
Inception Date
February 22, 2019
Benchmark
S&P 500
Cannabis World Index
NAV Share
as of 4/29/2022
Market Price
as of 4/29/2022
0.000000000
Premium (Discount)
as of 4/29/2022
0.000000000
30-Day Median
Bid/Ask Spread
as of 4/29/2022
6.281833620000000