DeltaShares® S&P 500® Managed Risk ETF
as of 1/19/2018
as of 1/19/2018
as of 1/19/2018
The DeltaShares S&P 500 Managed Risk ETF seeks to track the investment results of the S&P 500 Managed Risk 2.0 Index (the “Underlying Index”). The Underlying Index is designed to simulate a portfolio that dynamically adjusts its allocations across the S&P 500® (the “Equity Index”), the S&P U.S. Treasury Bond Current 5-Year Index (the “Treasury Bond Index”) and the S&P U.S. Treasury Bill 0-3 Month Index (the “T-Bill Index”).
• Seeks to maximize exposure to the S&P 500® Index while maintaining a managed risk overlay to help provide a stable volatility profile
• Its volatility management strategy seeks to prevent portfolio volatility from exceeding a designated level
• Through the ongoing replication of a synthetic put option, its capital hedge strategy seeks to mitigate portfolio drawdowns during sustained market declines
The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted.
Returns less than one year are not annualized. NAV prices are used to calculate market price performance prior to the date when the Fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. For the fund’s most recent month end performance, please call 1-888-316-8077.
The fund's NAV equals its total assets less any liabilities, divided by the number of shares outstanding.
YTD (Year to Date) is a period, starting from the beginning of the current calendar year, and continuing up to the present day.
Total Return represents changes to the NAV and accounts for distributions from the fund.
Market Price return represents changes to the midpoint price and accounts for distributions from the fund. The midpoint is the average of the bid-ask prices at 4:00 PM ET (when NAV is normally determined for most funds).
Past performance is not indicative of future results.
Expense Ratio as expressed in the ETF's prospectus.
The Primary Benchmark of the DeltaShares S&P 500 Managed Risk ETF is the S&P 500®. The S&P 500® is composed of large-capitalization U. S. equities. The S&P U.S. Treasury Bond Current 5-Year Index is a one-security index comprising the most recently issued 5-year U.S. Treasury note or bond. The S&P U.S. Treasury Bill 0-3 Month Index is designed to measure the performance of U.S. Treasury bills maturing in 0 to 3 months. The Underlying Index is the S&P 500 Managed Risk 2.0 Index and is designed to simulate a portfolio that dynamically adjusts its allocations across the S&P 500® (the “Equity Index”), the S&P U.S. Treasury Bond Current 5-Year Index (the “Treasury Bond Index”) and the S&P U.S. Treasury Bill 0-3 Month Index (the “T-Bill Index”).
Synthetic put option is a replication strategy that requires a cash or futures position, in this case a combination of the underlying equity and bond indices (long and short tenor), that has the same cash flow properties as the put option. This “replicated” put needs to be financed by the strategy itself and involves no extra cost.
Investing involves risk, including the possible loss of principal. There is no guarantee the fund's investment strategies will be successful. Equity securities represent an ownership interest in an issuer, rank junior in a company's capital structure and consequently may entail greater risk of loss than debt securities. The market prices of fixed-income securities may go up or down, sometimes rapidly and unpredictably, due to general market conditions, such as real or perceived adverse economic or political conditions, inflation, changes in interest rates, lack of liquidity in the bond markets or adverse investor sentiment. As the prices of bonds in the fund adjust to a rise in interest rates, the fund's share price may decline. The use of hedging and derivatives may produce disproportionate gains or losses, may increase costs, and amplify risks.