OEUR

O’SHARES FTSE EUROPE QUALITY DIVIDEND ETF

MARKET DATA AS OF	7/13/2018
NAV Price	$24.42
NAV Price Change	$-0.02
Premium/Discount	$-0.07
Market Price	$24.35
Market Price Change	$0.24
Shares Outstanding	1,600,000
Volume	4,243
Total Net Assets	$39,068,320

Profile
Symbol	OEUR
Listing Exchange	NYSE/ARCA
Inception Date	8/19/2015
CUSIP	67110P 506
Target Index Provider	FTSE Russell
Target Index Symbol	FEFQVY5N
IOPV Ticker	OEUR.IV
Expense Ratio	0.48%
30-Day SEC Yield¹	2.94%

Fund Investment Objective

The Fund seeks to track the performance (before fees and expenses) of its target index, the FTSE Developed Europe Qual/Vol/Yield 5% Capped Factor 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 market capitalization, liquidity, high quality, low volatility and dividend yield thresholds, 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.

PERFORMANCE

Monthly Performance (as of 6/30/2018)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	0.18%	-0.97%	-4.23%	0.53%	-0.97%	-4.23%	4.21%
Market Value	-0.07%	-1.34%	-4.06%	-0.41%	-1.34%	-4.06%	3.86%

Quarterly Performance (as of 6/30/2018)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	0.18%	-0.97%	-4.23%	0.53%	-0.97%	-4.23%	4.21%
Market Value	-0.07%	-1.34%	-4.06%	-0.41%	-1.34%	-4.06%	3.86%

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 generally based on market value 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.

HOLDINGS

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Name (as of 7/16/2018)	Country	Sector	Fund Weight
Nestle	SWIT	Consumer Goods	5.10%
Roche Hldgs (GENUS)	SWIT	Health Care	4.37%
Novartis (REGD)	SWIT	Health Care	4.19%
GlaxoSmithKline	UK	Health Care	3.76%
Total	FRA	Energy	3.75%
Sanofi	FRA	Health Care	2.66%
Siemens AG	GER	Industrials	2.42%
British American Tobacco	UK	Consumer Goods	2.37%
Vodafone Group	UK	Telecommunications	2.21%
Diageo	UK	Consumer Goods	1.91%
Novo-Nordisk B	DEN	Health Care	1.84%
Reckitt Benckiser Group	UK	Consumer Goods	1.67%
WFD Unibail-Rodamco	NETH	Financials	1.55%
Vonovia SE	GER	Financials	1.48%
AstraZeneca	UK	Health Care	1.48%
L'Oreal	FRA	Consumer Goods	1.45%
National Grid	UK	Utilities	1.42%
Unilever NV CVA	NETH	Consumer Goods	1.39%
Sampo Oyi	FIN	Financials	1.29%
Investor B Free	SWED	Financials	1.23%
BASF	GER	Basic Materials	1.22%
BT Group	UK	Telecommunications	1.22%
ABB	SWIT	Industrials	1.14%
Deutsche Telekom	GER	Telecommunications	1.11%
CASHUSD	Curr	Currency	1.10%
Unilever	UK	Consumer Goods	1.09%
Telefonica	SP	Telecommunications	1.01%
Schneider Electric	FRA	Industrials	0.99%
Eni	ITA	Energy	0.97%
Vinci	FRA	Industrials	0.90%
Enel	ITA	Utilities	0.87%
BAE Systems	UK	Industrials	0.81%
Deutsche Post	GER	Industrials	0.78%
Deutsche Wohnen SE	GER	Financials	0.76%
SSE	UK	Utilities	0.75%
Engie	FRA	Utilities	0.74%
Orange	FRA	Telecommunications	0.72%
Klepierre	FRA	Financials	0.72%
3i Group	UK	Financials	0.72%
Michelin B	FRA	Consumer Goods	0.69%
Telenor A/S	NOR	Telecommunications	0.69%
Amadeus IT Group SA	SP	Technology	0.69%
Swiss Re	SWIT	Financials	0.68%
Givaudan N	SWIT	Basic Materials	0.67%
Imperial Brands	UK	Consumer Goods	0.67%
Gecina	FRA	Financials	0.65%
Linde AG	GER	Basic Materials	0.58%
Kone B	FIN	Industrials	0.57%
Inditex	SP	Consumer Services	0.56%
Partners Group AG	SWIT	Financials	0.55%
RELX	UK	Consumer Services	0.54%
LEG Immobilien AG	GER	Financials	0.52%
Experian	UK	Industrials	0.50%
CRH	UK	Industrials	0.47%
SGS S.A.	SWIT	Industrials	0.45%
Ferguson	UK	Industrials	0.45%
WPP	UK	Consumer Services	0.45%
Admiral Group	UK	Financials	0.45%
Coloplast B	DEN	Health Care	0.44%
Snam	ITA	Utilities	0.44%
Ferrovial	SP	Industrials	0.43%
Relx NV	NETH	Consumer Services	0.42%
Koninklijke Philips	NETH	Health Care	0.42%
Next	UK	Consumer Services	0.41%
Marine Harvest ASA	NOR	Consumer Goods	0.40%
Telia Co AB	SWED	Telecommunications	0.40%
Legrand	FRA	Industrials	0.39%
Geberit N	SWIT	Industrials	0.39%
Continental	GER	Consumer Goods	0.38%
Sky	UK	Consumer Services	0.38%
Equinor ASA	NOR	Energy	0.37%
St Gobain (Cie De)	FRA	Industrials	0.36%
Kingfisher	UK	Consumer Services	0.36%
H & M Hennes & Mauritz AB B	SWED	Consumer Services	0.35%
Swisscom	SWIT	Telecommunications	0.35%
Terna	ITA	Utilities	0.34%
Endesa	SP	Utilities	0.34%
Publicis Groupe	FRA	Consumer Services	0.33%
Atlantia	ITA	Industrials	0.33%
RED ELECTRICA CORP SA	SP	Utilities	0.33%
Centrica	UK	Utilities	0.32%
InterContinental Hotels Group	UK	Consumer Services	0.32%
Abertis Infraestructuras SA	SP	Industrials	0.31%
UPM-Kymmene	FIN	Basic Materials	0.30%
Industrivarden AB Ser A	SWED	Financials	0.30%
Kuehne & Nagel International	SWIT	Industrials	0.30%
ITV	UK	Consumer Services	0.30%
Direct Line Insurance Group	UK	Financials	0.29%
Covivio	FRA	Financials	0.28%
Swedish Match	SWED	Consumer Goods	0.27%
Hammerson	UK	Financials	0.27%
Atlas Copco A	SWED	Industrials	0.26%
Whitbread	UK	Consumer Services	0.26%
Royal Mail	UK	Industrials	0.26%
Tryg A/S	DEN	Financials	0.25%
Thales	FRA	Industrials	0.25%
Enagas	SP	Utilities	0.25%
Industrivarden AB C Free	SWED	Financials	0.25%
ISS	DEN	Industrials	0.24%
Merlin Properties Socimi SA	SP	Financials	0.23%
Naturgy Energy Group SA	SP	Utilities	0.23%
Umicore	BELG	Basic Materials	0.22%
Orkla A	NOR	Consumer Goods	0.22%
Yara International	NOR	Basic Materials	0.22%
Swiss Prime Site	SWIT	Financials	0.22%
Smiths Group	UK	Industrials	0.22%
Sodexo	FRA	Consumer Services	0.21%
EDP	PTL	Utilities	0.21%
Croda International	UK	Basic Materials	0.21%
Elisa	FIN	Telecommunications	0.20%
Veolia Environnement	FRA	Utilities	0.20%
Wolters Kluwer CVA	NETH	Consumer Services	0.20%
Bureau Veritas S.A.	FRA	Industrials	0.18%
Aena SME SA	SP	Industrials	0.18%
Marks & Spencer Group	UK	Consumer Services	0.18%
Persimmon	UK	Consumer Goods	0.18%
Proximus	BELG	Telecommunications	0.17%
Bouygues	FRA	Industrials	0.17%
Roche Hldgs (BR)	SWIT	Health Care	0.17%
Johnson Matthey	UK	Basic Materials	0.17%
United Utilities Group	UK	Utilities	0.17%
Severn Trent	UK	Utilities	0.17%
Evonik Industries AG	GER	Basic Materials	0.16%
ACS Actividades Cons y Serv	SP	Industrials	0.16%
Atlas Copco B	SWED	Industrials	0.16%
Fortum	FIN	Utilities	0.15%
SES FDR	FRA	Consumer Services	0.15%
Innogy SE	GER	Utilities	0.15%
ProSiebenSat.1 Media SE	GER	Consumer Services	0.15%
SCA B	SWED	Basic Materials	0.15%
RTL Group	GER	Consumer Services	0.14%
Gjensidige Forsikring ASA	NOR	Financials	0.14%
Sainsbury (J)	UK	Consumer Services	0.14%
TUI AG	UK	Consumer Services	0.14%
Smith (DS)	UK	Industrials	0.14%
Colruyt	BELG	Consumer Services	0.13%
Hugo Boss AG	GER	Consumer Goods	0.13%
IMI	UK	Industrials	0.13%
Pennon Group	UK	Utilities	0.13%
Kesko B	FIN	Consumer Services	0.12%
SKF B	SWED	Industrials	0.12%
Sofina	BELG	Financials	0.11%
BIC	FRA	Consumer Goods	0.11%
Telefonica Deutschland Holdings	GER	Telecommunications	0.11%
Schindler Holding (Cert)	SWIT	Industrials	0.11%
Morrison (Wm) Supermarkets	UK	Consumer Services	0.11%
Tate & Lyle	UK	Consumer Goods	0.11%
Travis Perkins	UK	Industrials	0.11%
bpost SA	BELG	Industrials	0.10%
Suez	FRA	Utilities	0.10%
GEA Group AG	GER	Industrials	0.10%
Epiroc A	SWED	Industrials	0.10%
Lagardere Groupe	FRA	Consumer Services	0.09%
Uniper SE	GER	Utilities	0.09%
Rubis	FRA	Utilities	0.08%
MAN	GER	Industrials	0.08%
Andritz	OEST	Industrials	0.08%
Tele2 AB	SWED	Telecommunications	0.08%
PSP Swiss Property	SWIT	Financials	0.08%
Ashmore Group	UK	Financials	0.08%
William Hill	UK	Consumer Services	0.08%
Axel Springer SE	GER	Consumer Services	0.07%
Fuchs Petrolub Pref SE	GER	Basic Materials	0.07%
Jeronimo Martins	PTL	Consumer Services	0.07%
Zardoya Otis	SP	Industrials	0.07%
Inmarsat	UK	Telecommunications	0.07%
Babcock International Group	UK	Industrials	0.07%
Orion B	FIN	Health Care	0.06%
Fielmann	GER	Consumer Services	0.06%
Recordati	ITA	Health Care	0.06%
Alba (Corp. Fin)	SP	Financials	0.06%
Epiroc B	SWED	Industrials	0.06%
Imerys	FRA	Basic Materials	0.05%
Boskalis Westminster	NETH	Industrials	0.05%
Latour Investment B	SWED	Financials	0.05%
Ems Chemie I	SWIT	Basic Materials	0.05%
Schindler Holding (Reg)	SWIT	Industrials	0.05%
Fuchs Petrolub SE	GER	Basic Materials	0.04%
Signify NV	NETH	Industrials	0.04%
ICA Gruppen AB	SWED	Consumer Services	0.04%
Sulzer AG	SWIT	Industrials	0.03%
Ceconomy AG	GER	Consumer Services	0.02%
Mediaset Espana Communicacion	SP	Consumer Services	0.02%
DKSH Holding	SWIT	Consumer Services	0.02%
Linde	GER	Basic Materials	0.00%

SECTORS

Sector Allocation (as of 6/30/2018)	Weight
Health Care	19.03%
Consumer Goods	18.17%
Industrials	15.41%
Financials	13.38%
Telecommunications	8.41%
Utilities	7.50%
Consumer Services	6.75%
Energy	5.09%
Basic Materials	4.18%
Currency	1.11%
Technology	0.66%

COUNTRIES

COUNTRY ALLOCATION (AS OF 6/30/2018)	WEIGHT
United Kingdom	28.76%
Switzerland	18.77%
France	16.25%
Germany	10.67%
Spain	4.53%
Netherlands	4.11%
Sweden	3.87%
Italy	3.02%
Finland	2.74%
Denmark	2.66%
Norway	2.11%
Currency	1.11%
Belgium	0.74%
Portugal	0.28%
Austria	0.08%

DISTRIBUTIONS

Ex-Dividend	Record	Payable	Distribution Per Share
6/26/2018	6/27/2018	6/29/2018	0.153
5/30/2018	5/31/2018	6/4/2018	0.155
4/27/2018	4/30/2018	5/2/2018	0.096
3/27/2018	3/29/2018	4/3/2018	0.040
2/27/2018	2/28/2018	3/2/2018	0.020
1/30/2018	1/31/2018	2/2/2018	0.020
12/22/2017	12/26/2017	12/29/2017	0.185
11/15/2017	11/16/2017	11/21/2017	0.069
10/16/2017	10/17/2017	10/20/2017	0.070
9/15/2017	9/18/2017	9/21/2017	0.061
8/15/2017	8/17/2017	8/21/2017	0.008
7/17/2017	7/19/2017	7/21/2017	0.017
5/15/2017	6/19/2017	6/21/2017	0.082
5/12/2017	5/17/2017	5/19/2017	0.125
4/17/2017	4/19/2017	4/21/2017	0.101
3/15/2017	3/17/2017	3/21/2017	0.033
2/15/2017	2/17/2017	2/22/2017	0.004
1/17/2017	1/19/2017	1/23/2017	0.014
12/22/2016	12/28/2016	12/30/2016	0.018
11/15/2016	11/17/2016	11/21/2016	0.031
10/17/2016	10/19/2016	10/21/2016	0.029
9/15/2016	9/19/2016	9/21/2016	0.051
8/15/2016	8/17/2016	8/19/2016	0.039
7/15/2016	7/19/2016	7/21/2016	0.047
6/15/2016	6/17/2016	6/21/2016	0.133
5/16/2016	5/18/2016	5/20/2016	0.141
4/15/2016	4/19/2016	4/21/2016	0.051
3/15/2016	3/17/2016	3/21/2016	0.039
2/16/2016	2/18/2016	2/22/2016	0.041
1/15/2016	1/20/2016	1/22/2016	0.000
12/24/2015	12/29/2015	12/31/2015	0.106
11/16/2015	11/18/2015	11/20/2015	0.019
10/15/2015	10/19/2015	10/21/2015	0.013
9/15/2015	9/17/2015	9/21/2015	0.007

PREMIUM / DISCOUNT

Date	Days	< -0.5%	-0.5% to 0%	0% to 0.5%	> 0.5%
2017	188	0	38	103	47
09/30/2017	63	0	11	41	11
06/30/2017	63	0	5	32	26
03/31/2017	62	0	22	30	10
2016	252	4	31	88	129
12/31/2016	63	1	17	34	11
09/30/2016	64	1	1	21	41
06/30/2016	64	2	7	25	30
03/31/2016	61	0	6	8	47
2015	95	4	8	21	62
12/31/2015	64	2	6	14	42
09/30/2015	31	2	2	7	20

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.

INVESTOR RESOURCE

Investor Materials
Fact Sheet
Supplement to Prospectus and SAI
Prospectus Supplement
Summary Prospectus
Prospectus
SAI
Semi-Annual Report
Annual Report
XBRL (zip file)

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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. 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.

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

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.

Before you invest in O’Shares ETF Investments funds, please refer to the prospectus for important information about the investment objectives, risks, charges and expenses. To obtain a prospectus containing this and other important information, please visit www.oshares.com to view or download a prospectus online. Read the prospectus carefully before you invest. There are risks involved with investing including the 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 funds may use derivatives which may involve risks different from, or greater than, those associated with more traditional investments. The funds' 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. Returns on investments in foreign securities could be more volatile than, or trail the returns on, investments in U.S. securities. Exposures to foreign securities entail special risks, including political, diplomatic, economic, foreign market and trading risks. In addition, unless perfectly hedged, the Fund’s investments in securities denominated in other currencies could decline due to changes in local currency relative to the value of the U.S. dollar, which may affect the Fund’s returns. The funds' hedging strategies may not be successful, and even if they are successful, the funds' exposure to foreign currency fluctuations is not expected to be fully hedged at all times. See the prospectus for specific risks regarding the Fund.
The securities of small capitalization companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of securities during market downturns. Compared to larger companies, small capitalization companies may have a shorter history of operations, and may have limited product lines, markets or financial resources.
Past performance does not guarantee future results. Shares are bought and sold at market price (not NAV), are not individually redeemable, and owners of the Shares may acquire those Shares from the Funds and tender those shares for redemption to the Funds in Creation Unit aggregations only, consisting of 50,000 Shares. Brokerage commissions will reduce returns. Shares are not individually redeemable and can be redeemed only in Creation Units. The market price of shares can be at, below or above the NAV. Brokerage commissions will reduce returns. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times.
O’Shares ETF Investments funds are distributed by Foreside Fund Services, LLC. Foreside Fund Services, LLC is not affiliated with O’Shares ETF Investments or any of its affiliates.

OEUR

Fund Investment Objective

O’Shares Strategy Series | Intl. Large Caps

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