O’SHARES FTSE ASIA PACIFIC QUALITY DIVIDEND ETF

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OASI-Listed-ARCA-01

FUND INVESTMENT OBJECTIVE

The Fund employs a “passive management” or “rules based” investment approach that seeks to track the performance of the Target Index, before fees and expenses.

The Fund seeks to track the performance (before fees and expenses) of its target index, the FTSE Developed Asia Pacific Qual/Vol/Yield Factor 5% Capped Index (the “Target Index”).

The Target Index is designed to measure the performance of publicly-listed large-capitalization and mid-capitalization dividend-paying issuers in the Asia Pacific that meet certain requirements for market capitalization, liquidity, high quality, low volatility and dividend yield, as determined by FTSE-Russell (the “Index Provider”). The high quality and low volatility requirements are designed to reduce exposure to high dividend equities that have experienced large price declines, as may occur with some dividend investing strategies.

O'Shares FTSE Asia Pacific Quality Dividend ETF (OASI) - Performance
Quarterly Performance
(as of 12/31/2016)
1 MTH3 MTH6 MTH1 YRQTDYTDSince
Inception
NAV %0.07%-4.85%1.99%8.06%-4.85%8.06%5.70%
Market Value %-1.17%-6.49%0.79%8.11%-6.49%8.11%5.66%

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.

Shares of the Funds are not individually redeemable and the owners of Shares may purchase or redeem Shares from each Fund in Creation Units only. The purchase and sale price of individual Shares trading on an Exchange may be below, at or above the most recently calculated NAV for such Shares.

Market Price returns are based upon the midpoint of the bid/ask spread at 4:00PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods. Absent these waivers, results would have been less favorable.

IOPV = Indicative Optimized Portfolio Value (IOPV) is an estimated fair value based on most recent intraday price of underlying assets

HOLDINGS
Name
(as of 1/17/2017)
CountrySectorFund Weight
Samsung ElectronicsKORConsumer Goods3.90%
Toyota MotorJAConsumer Goods3.67%
NTT DocomoJATelecommunications2.62%
WesfarmersAUConsumer Services2.54%
Japan TobaccoJAConsumer Goods2.34%
BHP Billiton LtdAUBasic Materials2.32%
Link Real Estate Investment TrustHKFinancials2.10%
Astellas PharmaceuticalJAHealth Care1.77%
Scentre GroupAUFinancials1.74%
FanucJAIndustrials1.73%
WoolworthsAUConsumer Services1.67%
Singapore TelecommunicationsSITelecommunications1.62%
CanonJATechnology1.50%
Bridgestone CorpJAConsumer Goods1.43%
Power Assets HoldingsHKUtilities1.40%
Daito Trust ConstuctionJAFinancials1.38%
Sun Hung Kai PropsHKFinancials1.37%
Shin-Etsu ChemicalJABasic Materials1.29%
Westfield CorpAUFinancials1.23%
Seven & I HoldingsJAConsumer Services1.19%
CSLAUHealth Care1.06%
Denso CorporationJAConsumer Goods1.01%
Telstra CorpAUTelecommunications1.00%
CLP HoldingsHKUtilities1.00%
HoyaJAIndustrials0.92%
Mitsui & CoJAIndustrials0.91%
Woodside PetroleumAUEnergy0.90%
KaoJAConsumer Goods0.82%
Goodman GroupAUFinancials0.78%
KT&GKORConsumer Goods0.77%
AmcorAUIndustrials0.76%
KomatsuJAIndustrials0.75%
SecomJAIndustrials0.75%
PoscoKORBasic Materials0.74%
Dexus Property GroupAUFinancials0.70%
Kyocera CorpJAIndustrials0.69%
Rio Tinto Ltd.AUBasic Materials0.67%
Samsung Electronics Pfd.KORConsumer Goods0.67%
Hong Kong & China GasHKUtilities0.66%
Daiichi SankyoJAHealth Care0.66%
AGL EnergyAUUtilities0.65%
GPT GroupAUFinancials0.65%
Sumitomo CorpJAIndustrials0.64%
Singapore ExchangeSIFinancials0.64%
Hongkong Land HoldingsHKFinancials0.63%
KepcoKORUtilities0.62%
StocklandAUFinancials0.58%
BramblesAUIndustrials0.57%
Vicinity CentersAUFinancials0.57%
Mirvac GroupAUFinancials0.57%
Fuji Heavy IndustriesJAConsumer Goods0.57%
Itochu CorpJAIndustrials0.55%
KurarayJABasic Materials0.55%
Spark New ZealandNZTelecommunications0.53%
Cheung Kong Property HoldingsHKFinancials0.51%
Kirin Holdings Co. Ltd.JAConsumer Goods0.51%
Henderson Land DevHKFinancials0.49%
LawsonJAConsumer Services0.49%
Fletcher BuildingNZIndustrials0.48%
Jardine Matheson HoldingsHKIndustrials0.47%
Tokyo GasJAUtilities0.46%
CapitaLand Mall TrustSIFinancials0.45%
Medibank PrivateAUFinancials0.44%
West Japan RailwayJAConsumer Services0.44%
APA GroupAUEnergy0.43%
EisaiJAHealth Care0.42%
Tokyo ElectronJATechnology0.42%
NTTJATelecommunications0.42%
Singapore AirlinesSIConsumer Services0.42%
Aurizon HoldingsAUIndustrials0.41%
MTR CorpHKConsumer Services0.41%
KeppelSIEnergy0.41%
Sino LandHKFinancials0.40%
Asahi Kasei CorporationJABasic Materials0.40%
Osaka GasJAUtilities0.40%
Transurban GroupAUIndustrials0.39%
ASXAUFinancials0.39%
Hang Seng BankHKFinancials0.38%
JX HoldingsJAEnergy0.37%
ComfortDelGroSIConsumer Services0.37%
Hyundai MobisKORConsumer Goods0.36%
Caltex AustraliaAUEnergy0.35%
Recruit HoldingsJAIndustrials0.35%
SK TelecomKORTelecommunications0.34%
Dai Nippon PrintingJAConsumer Services0.33%
Singapore Press HoldingsSIConsumer Services0.33%
Cheung Kong Infrastructure HoldingsHKUtilities0.32%
USSJAConsumer Services0.32%
Mitsubishi Tanabe PharmaJAHealth Care0.31%
Kangwon LandKORConsumer Services0.31%
James Hardie Industries PlcAUIndustrials0.30%
Marubeni CorpJAIndustrials0.30%
Wharf HoldingsHKFinancials0.29%
Swire Pacific AHKIndustrials0.29%
Concordia Financial GroupJAFinancials0.27%
Park24JAConsumer Services0.27%
KIA MotorsKORConsumer Goods0.27%
Ascendas Real Estate Investment TrustSIFinancials0.27%
New World DevelopmentHKFinancials0.26%
Swire PropertiesHKFinancials0.26%
CowayKORConsumer Goods0.26%
Singapore Technologies EngineeringSIIndustrials0.26%
Insurance Australia GroupAUFinancials0.24%
Sumitomo Electric IndustriesJAConsumer Goods0.24%
Global Logistic PropertiesSIFinancials0.24%
Aisin Seiki CoJAConsumer Goods0.23%
Kiwi Property GroupNZFinancials0.23%
Fisher & Paykel HealthcareNZHealth Care0.23%
SATSSIIndustrials0.23%
CASHUSDCurrCurrency0.22%
Lend Lease GroupAUFinancials0.22%
Tatts GroupAUConsumer Services0.22%
Sonic HealthcareAUHealth Care0.22%
JSR CorpJABasic Materials0.22%
Venture CorpSIIndustrials0.22%
Suntec REITSIFinancials0.22%
OricaAUBasic Materials0.21%
Sekisui ChemicalJAConsumer Goods0.20%
FamilyMart UNY HoldingsJAConsumer Services0.20%
CapitaLand Commercial TrustSIFinancials0.20%
Hopewell HoldingsHKFinancials0.19%
Yue Yuen IndustrialHKConsumer Goods0.19%
Asahi GlassJAIndustrials0.19%
TonenGeneral SekiyuJAEnergy0.19%
Hirose ElectricJAIndustrials0.19%
Trend MicroJATechnology0.19%
LG CorpKORIndustrials0.19%
Contact EnergyNZUtilities0.19%
Tabcorp HoldingsAUConsumer Services0.18%
ComputershareAUIndustrials0.18%
Sydney AirportAUIndustrials0.18%
SankyoJAConsumer Services0.18%
Yahoo JapanJATechnology0.18%
Vtech HoldingsHKTechnology0.17%
Toyota TsushoJAIndustrials0.17%
Santen PharmaceuticalJAHealth Care0.17%
DiscoJAIndustrials0.17%
StarHubSITelecommunications0.17%
Want Want China Holdings Ltd.HKConsumer Goods0.16%
Kurita Water IndsJAIndustrials0.16%
NWS HoldingsHKIndustrials0.15%
Maruichi Steel TubeJABasic Materials0.15%
Toppan PrintingJAIndustrials0.15%
Japan AirlinesJAConsumer Services0.15%
AutobacsJAConsumer Services0.15%
Crown ResortsAUConsumer Services0.14%
CochlearAUHealth Care0.14%
BoralAUIndustrials0.14%
ANA HoldingsJAConsumer Services0.14%
AmadaJAIndustrials0.14%
Bandai Namco HoldingsJAConsumer Goods0.14%
Miraca HoldingsJAHealth Care0.14%
Sky Network TelevisionNZConsumer Services0.14%
PerpetualAUFinancials0.13%
Incitec Pivot LtdAUBasic Materials0.13%
Hysan DevelopmentHKFinancials0.13%
DaicelJABasic Materials0.13%
Nisshin Seifun GroupJAConsumer Goods0.13%
Hoshizaki Electric Co. Ltd.JAIndustrials0.13%
Hitachi ChemicalJABasic Materials0.13%
ShimamuraJAConsumer Services0.13%
Nomura Research InstituteJATechnology0.13%
Electric Power DevelopmentJAUtilities0.13%
Hakuhodo DY HoldingsJAConsumer Services0.13%
Shopping Centres Australasia Property GroupAUFinancials0.12%
PCCWHKTelecommunications0.12%
Cafe De Coral HoldingsHKConsumer Services0.12%
Nippon KayakuJABasic Materials0.12%
Hisamitsu PharmaceuticalJAHealth Care0.12%
Wilmar International LimitedSIConsumer Goods0.12%
Singapore Post LtdSIIndustrials0.12%
OroraAUIndustrials0.11%
Harvey Norman HoldingsAUConsumer Services0.11%
Adelaide BrightonAUIndustrials0.11%
IOOF HoldingsAUFinancials0.11%
DUET GroupAUUtilities0.11%
Samsonite InternationalHKConsumer Goods0.11%
Sun Art Retail GroupHKConsumer Services0.11%
Hino MotorsJAIndustrials0.11%
Mitsubishi Gas ChemicalJABasic Materials0.11%
Ube IndustriesJABasic Materials0.11%
Mabuchi MotorsJAIndustrials0.11%
ShimachuJAConsumer Services0.11%
Sky City Entertainment GroupNZConsumer Services0.11%
City DevelopmentsSIFinancials0.11%
Hutchison Port Holdings TrustSIIndustrials0.11%
AnsellAUHealth Care0.10%
SeekAUIndustrials0.10%
Champion REITHKFinancials0.10%
Television BroadcastHKConsumer Services0.10%
Wacoal HoldingsJAConsumer Goods0.10%
Azbil Corp.JAIndustrials0.10%
Mercury NZNZUtilities0.10%
Meridian EnergyNZUtilities0.10%
CSRAUIndustrials0.09%
Macquarie Atlas Roads Ltd.AUIndustrials0.09%
Kaneka CorpJABasic Materials0.09%
KindenJAIndustrials0.09%
ObicJATechnology0.09%
Matsumotokiyoshi HoldingsJAConsumer Services0.09%
Comsys HoldingsJAIndustrials0.09%
Ryman HealthcareNZHealth Care0.09%
DuluxGroupAUIndustrials0.08%
The Star Entertainment GroupAUConsumer Services0.08%
Platinum Asset Mangement Ltd/AustraliaAUFinancials0.08%
Cathay Pacific AirwaysHKConsumer Services0.08%
Kerry PropertiesHKFinancials0.08%
NISSIN FOODS HOLDINGSJAConsumer Goods0.08%
Benesse HoldingsJAConsumer Services0.08%
OtsukaJATechnology0.08%
Lintec CorpJAIndustrials0.08%
SuzukenJAHealth Care0.08%
Toyo Suisan KaishaJAConsumer Goods0.08%
UOL GroupSIFinancials0.08%
Yangzijiang Shipbuilding HoldingsSIIndustrials0.08%
Coca-Cola AmatilAUConsumer Goods0.07%
Ausnet ServicesAUUtilities0.07%
Flight Centre Travel GroupAUConsumer Services0.07%
CIMIC GroupAUIndustrials0.07%
Nagase & CoJABasic Materials0.07%
Pola Orbis HoldingsJAConsumer Goods0.07%
Aoyama TradingJAConsumer Services0.07%
DaiichikoshoJAConsumer Goods0.07%
KamigumiJAIndustrials0.07%
Maeda Road ConstructionJAIndustrials0.07%
HealthscopeAUHealth Care0.06%
REA GroupAUFinancials0.06%
Magellan Financial GroupAUFinancials0.06%
Li & FungHKConsumer Goods0.06%
Kaken PharmaceuticalJAHealth Care0.06%
Sanwa HoldingsJAIndustrials0.06%
Seino HoldingsJAIndustrials0.06%
Nomura Real Estate HoldingsJAFinancials0.06%
H2O RetailingJAConsumer Services0.06%
KYORIN HoldingsJAHealth Care0.06%
Denki Kagaku Kogyo Kabushiki KaishaJABasic Materials0.06%
NifcoJAConsumer Goods0.06%
Air New ZealandNZConsumer Services0.06%
SIA EngineeringSIIndustrials0.06%
Chow Tai Fook Jewellery GroupHKConsumer Services0.05%
Hopewell Highway InfrastructureHKIndustrials0.05%
HeiwaJAConsumer Services0.05%
Itochu Techno SolutionsJATechnology0.05%
Toyoda GoseiJAConsumer Goods0.05%
GloryJAIndustrials0.05%
OSGJAIndustrials0.05%
Ushio IncJAIndustrials0.05%
KEPCO Plant Service & EngineerKORIndustrials0.05%
M1SITelecommunications0.05%
Fairfax MediaAUConsumer Services0.04%
Downer GroupAUIndustrials0.04%
Johnson ElectricHKIndustrials0.04%
NHK Spring CoJAConsumer Goods0.04%
NippoJAIndustrials0.04%
ABC-MartJAConsumer Goods0.04%
Tokai RikaJAConsumer Goods0.04%
MandoKORConsumer Goods0.04%
Cheil WorldwideKORConsumer Services0.04%
Vector LtdNZUtilities0.04%
Hutchison Telecommunications Hong Kong LtdHKTelecommunications0.03%
SanrioJAConsumer Goods0.03%
TV Asahi HoldingsJAConsumer Services0.03%
Tecmo Koei HoldingsJATechnology0.03%
Dongsuh Co IncKORConsumer Goods0.03%
L'Occitane International S.A.HKConsumer Services0.02%
Sa Sa International HoldingsHKConsumer Services0.02%
Texwinca HoldingsHKConsumer Goods0.02%
Lifestyle International HoldingsHKConsumer Services0.02%
Canon Marketing JapanJATechnology0.02%
PanaHomeJAConsumer Goods0.02%
Tokyo Broadcasting System HoldingsJAConsumer Services0.02%
ExedyJAConsumer Goods0.02%
Toppan FormsJAIndustrials0.02%
Sumitomo Real Estate SalesJAFinancials0.02%
SKY Perfect JSAT HoldingsJAConsumer Services0.02%
NS SolutionsJATechnology0.02%
Hite JinroKORConsumer Goods0.02%
Warehouse GroupNZConsumer Services0.02%
Kowloon DevHKFinancials0.01%
Towngas ChinaHKUtilities0.01%
KT CorpKORTelecommunications0.00%
Sector Allocation (as of 12/31/2016)Weight
Financials20.27%
Consumer Goods19.23%
Industrials16.39%
Consumer Services12.41%
Basic Materials7.24%
Telecommunications6.70%
Utilities6.25%
Health Care5.72%
Technology2.86%
Energy2.61%
Currency0.32%
Other0.00%
O'Shares FTSE Asia Pacific Quality Dividend ETF (OASI) - Distribution Schedule
RecordEx-DividendPayableDistribution Per Share
09/17/1509/15/1509/21/150.057312
10/19/1510/15/1510/21/150.134415
11/18/1511/16/1511/20/150.002298
12/29/1512/24/1512/31/150.244412
01/20/1601/15/1601/22/160.000000
02/18/1602/16/1602/22/160.000000
03/17/1603/15/1603/21/160.045399
04/19/1604/15/1604/21/160.09125
05/18/1605/16/1605/20/160.015974
06/17/1606/15/1606/21/160.032352
07/19/1607/15/1607/21/160.021419
08/17/1608/15/1608/19/160.03086
09/19/1609/15/1609/21/160.090358
10/19/1610/17/1610/21/160.093439
11/17/1611/15/1611/21/160.093702
01/19/1701/17/1701/23/17TBA
02/17/1702/15/1702/22/17TBA
03/17/1703/15/1703/21/17TBA
04/19/1704/17/1704/21/17TBA
05/17/1705/15/1705/19/17TBA
06/19/1706/15/1706/21/17TBA
07/19/1707/17/1707/21/17TBA
08/17/1708/15/1708/21/17TBA
09/19/1709/15/1709/21/17TBA
10/18/1710/16/1710/20/17TBA
11/17/1711/15/1711/21/17TBA
NAV Premium/Discount History
DateDays< -0.5%-0.5% to 0%0%0% to 0.5%> 0.5%
201595131312741
     09/30/201531920713
     12/31/20156441112028
2016
     03/31/2016617701631
     06/30/20166451101632
     09/30/2016642701144

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares because shares are bought and sold at current market prices.

The above frequency distribution chart presents information about the difference between the daily market price for shares of the Fund and the Fund’s reported Net Asset Value. The amount that the Fund’s market price is above the reported NAV is called the premium. The amount that the Fund’s market price is below the reported NAV is called the discount. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund’s NAV is calculated (usually 4:00 p.m. EST). The horizontal axis of the chart shows the premium or discount expressed in basis points. The vertical axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

Market Data as of1/18/2017
NAV Price$26.17
NAV Price Change$0.03
Premium/Discount$0.24
Market Price$26.41
Market Price Change$0.18
Shares Outstanding400,001
Volume201
Total Net Assets$10,468,026
Profile 
SymbolOASI
Listing ExchangeNYSE/ARCA
Inception Date8/19/2015
Cusip351680822
Target Index ProviderFTSE/Russell
Target Index SymbolFAPQVY5N
IOPV TickerOASI.IV
Gross Expense Ratio0.80%
Net Expense Ratio0.58%
Portfolio Characteristicsas of 12/31/2016
30 Day SEC Yield 12.96%
30 Day SEC Yield 12.74% (Unsubsidized)
Investor Materials 
Fact SheetPDF
Summary ProspectusPDF
ProspectusPDF
SAIPDF
Semi-Annual ReportPDF
Annual ReportPDF
XBRLZIP

The Fund’s investment adviser, FFCM LLC (“Adviser”), has agreed to reimburse the Fund in an amount equal to the Fund’s allocable portion of the compensation and expenses of the Independent Trustees (including Independent Trustee counsel fees) until at least July 10, 2018.

1. The 30-day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced. The 30-day unsubsidized SEC yield does not reflect waivers in effect. A fund’s actual distribution rate will differ from the SEC yield and any income distributions from the fund may be higher or lower than the SEC yield.

There are risks involved with investing, including possible loss of principal. Concentration in a particular industry or sector will subject the Funds to loss due to adverse occurrences that may affect that industry or sector. The fund may use derivatives which may involve risks different from, or greater than, those associated with more traditional investments. The Fund’s emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market. Also, a company may reduce or eliminate its dividend after the Fund’s purchase of such a company’s securities. See the prospectus for specific risks regarding the Fund.