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 Europe Qual/Vol/Yield Factor 5% Capped Hedged 100% to USD 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 Europe 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.
The O’Shares FTSE Europe Quality Dividend Hedged ETF hedges against fluctuations in the relative value of foreign currencies in which O’Shares FTSE Europe Quality Dividend Hedged ETF Target Index’s components are denominated against the U.S. dollar. Thus, it is designed to have higher returns than an equivalent fund that does not hedge against a weakening of such foreign currencies relative to the U.S. dollar. Conversely, the O’Shares FTSE Europe Quality Dividend Hedged ETF would be expected to have lower returns than an equivalent unhedged fund when these foreign currencies are rising in value relative to the U.S. dollar.
(as of 12/31/2016)
|1 MTH||3 MTH||6 MTH||1 YR||QTD||YTD||Since
|Market Value %||4.90%||-1.36%||-1.71%||7.06%||-1.36%||7.06%||12.02%|
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
|Sector Allocation (% Weight in OEUR, as of 12/31/2016)||Weight|
|Record||Ex-Dividend||Payable||Distribution Per Share|
|Date||Days||< -0.5%||-0.5% to 0%||0%||0% to 0.5%||> 0.5%|
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 of||1/18/2017|
|NAV Price Change||-$0.11|
|Market Price Change||-$0.05|
|Total Net Assets||$14,868,025|
|Target Index Provider||FTSE/Russell|
|Target Index Symbol||FDEQVY5H|
|Gross Expense Ratio||1.48%|
|Net Expense Ratio||0.68%|
|Portfolio Characteristics||as of 12/31/2016|
|30 Day SEC Yield1||3.11%|
|30 Day SEC Yield1||2.96% (unsubsidized)|
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.