OEUR

O’Shares FTSE Europe Quality Dividend ETF

Why OEUR for Europe Large Cap Quality Dividends?

Performance. Portfolio of over 200 High Quality European companies that are paying dividends
Diversified Portfolio. Efficient, cost effective approach to get exposure to top European companies.
Seeks Less Volatility. Aims to provide better managed approach to investing in Europe.

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.

FUND & MARKET DATA

MARKET DATA AS OF	02/19/2020
NAV Price	$25.77
NAV Price Change	$0.12
Premium/Discount	$0.03
Market Price	$25.80
Market Price Change	$0.23
Shares Outstanding	1,050,000
Volume	22,861
Total Net Assets	$27,056,505

Profile
Symbol	OEUR
Listing Exchange	NYSE/ARCA
Inception Date	8/19/2015
CUSIP	67110P506
Target Index Provider	FTSE Russell
Target Index Symbol	FEFQVY5N
IOPV Ticker	OEUR.IV
Expense Ratio	0.48%
30-Day SEC Yield¹ (as of 1/31/2020)	2.92%

PERFORMANCE

Monthly Performance (as of 01/31/2020)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	-1.17%	3.69%	8.28%	14.38%	-1.17%	-1.17%	3.47%
Market Value	-1.13%	3.53%	8.95%	14.62%	-1.13%	-1.13%	3.39%

Quarterly Performance (as of 12/31/2019)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	3.68%	7.78%	7.48%	22.53%	7.78%	22.53%	3.82%
Market Value	3.57%	7.77%	7.32%	22.55%	7.77%	22.55%	3.72%

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 beyond 1 year are 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

DOWNLOAD HOLDINGS

Name (as of 02/20/2020)	Country	Sector	Fund Weight
Roche Hldgs (GENUS)	SWIT	Health Care	5.47%
Novartis (REGD)	SWIT	Health Care	5.11%
Nestle	SWIT	Consumer Goods	4.84%
GlaxoSmithKline	UK	Health Care	3.50%
Total	FRA	Energy	2.57%
BP	UK	Energy	2.43%
Enel	ITA	Utilities	2.31%
Royal Dutch Shell A	UK	Energy	2.27%
Unilever NV CVA	NETH	Consumer Goods	2.11%
Novo-Nordisk B	DEN	Health Care	2.01%
Royal Dutch Shell B	UK	Energy	1.96%
British American Tobacco	UK	Consumer Goods	1.72%
Siemens AG	GER	Industrials	1.68%
Vodafone Group	UK	Telecommunications	1.67%
Unilever	UK	Consumer Goods	1.64%
Diageo	UK	Consumer Goods	1.57%
National Grid	UK	Utilities	1.41%
Deutsche Telekom	GER	Telecommunications	1.36%
Rio Tinto	UK	Basic Materials	1.31%
Vonovia SE	GER	Financials	1.20%
Vinci	FRA	Industrials	1.11%
L'Oreal	FRA	Consumer Goods	1.09%
CASHUSD	Curr	Currency	1.06%
Sampo Oyi	FIN	Financials	1.01%
Schneider Electric	FRA	Industrials	1.01%
3i Group	UK	Financials	1.01%
BASF	GER	Basic Materials	0.99%
Segro	UK	Financials	0.95%
Ahold Delhaize	NETH	Consumer Services	0.93%
Air Liquide	FRA	Basic Materials	0.92%
RELX	UK	Consumer Services	0.89%
Engie	FRA	Utilities	0.87%
Kering	FRA	Consumer Services	0.84%
Telefonica	SP	Telecommunications	0.80%
Partners Group AG	SWIT	Financials	0.80%
Kone B	FIN	Industrials	0.74%
Orange	FRA	Telecommunications	0.72%
Ferguson	UK	Industrials	0.71%
Deutsche Wohnen SE	GER	Financials	0.67%
ABB	SWIT	Industrials	0.66%
Aroundtown SA	GER	Financials	0.63%
Eni	ITA	Energy	0.62%
Admiral Group	UK	Financials	0.62%
Imperial Brands	UK	Consumer Goods	0.62%
Gecina	FRA	Financials	0.61%
Koninklijke Philips	NETH	Health Care	0.61%
Inditex	SP	Consumer Services	0.57%
Direct Line Insurance Group	UK	Financials	0.55%
Swisscom	SWIT	Telecommunications	0.55%
BT Group	UK	Telecommunications	0.54%
Telenor A/S	NOR	Telecommunications	0.52%
LEG Immobilien AG	GER	Financials	0.52%
Alstom	FRA	Industrials	0.51%
Geberit N	SWIT	Industrials	0.51%
Unibail Rodamco Westfield	NETH	Financials	0.50%
SGS S.A.	SWIT	Industrials	0.49%
Equinor ASA	NOR	Energy	0.47%
Castellum	SWED	Financials	0.46%
BAE Systems	UK	Industrials	0.45%
Aena SME SA	SP	Industrials	0.44%
H & M Hennes & Mauritz AB B	SWED	Consumer Services	0.44%
Telia Co AB	SWED	Telecommunications	0.43%
Sandvik AB	SWED	Industrials	0.41%
Kuehne & Nagel International	SWIT	Industrials	0.40%
Endesa	SP	Utilities	0.38%
Coloplast B	DEN	Health Care	0.37%
UPM-Kymmene	FIN	Basic Materials	0.37%
Volvo B	SWED	Industrials	0.36%
RED ELECTRICA CORP SA	SP	Utilities	0.36%
Veolia Environnement	FRA	Utilities	0.35%
St Gobain (Cie De)	FRA	Industrials	0.35%
Persimmon	UK	Consumer Goods	0.35%
Legrand	FRA	Industrials	0.34%
EDP	PTL	Utilities	0.33%
Michelin B	FRA	Consumer Goods	0.33%
Klepierre	FRA	Financials	0.32%
SSE	UK	Utilities	0.32%
Merlin Properties Socimi SA	SP	Financials	0.31%
Snam	ITA	Energy	0.31%
Royal DSM	NETH	Basic Materials	0.31%
WPP	UK	Consumer Services	0.31%
Mondi	UK	Basic Materials	0.30%
Skanska B	SWED	Industrials	0.29%
Orkla A	NOR	Consumer Goods	0.29%
Naturgy Energy Group SA	SP	Utilities	0.28%
Terna	ITA	Utilities	0.27%
Enagas	SP	Utilities	0.27%
Adecco Group AG	SWIT	Industrials	0.27%
Continental	GER	Consumer Goods	0.27%
Elisa	FIN	Telecommunications	0.27%
Kingfisher	UK	Consumer Services	0.25%
Swiss Prime Site	SWIT	Financials	0.25%
United Utilities Group	UK	Utilities	0.25%
Covivio	FRA	Financials	0.24%
Henkel KG Pref	GER	Consumer Goods	0.24%
Mowi ASA	NOR	Consumer Goods	0.23%
Roche Hldgs (BR)	SWIT	Health Care	0.22%
Repsol	SP	Energy	0.22%
Severn Trent	UK	Utilities	0.22%
InterContinental Hotels Group	UK	Consumer Services	0.22%
Swedish Match	SWED	Consumer Goods	0.21%
Royal KPN	NETH	Telecommunications	0.20%
Taylor Wimpey	UK	Consumer Goods	0.20%
Carlsberg (B)	DEN	Consumer Goods	0.19%
Bouygues	FRA	Industrials	0.19%
Publicis Groupe	FRA	Consumer Services	0.19%
Sage Group	UK	Technology	0.19%
Associated British Foods	UK	Consumer Goods	0.19%
Proximus	BELG	Telecommunications	0.18%
Bureau Veritas S.A.	FRA	Industrials	0.18%
Barratt Developments	UK	Consumer Goods	0.18%
Next	UK	Consumer Services	0.18%
PSP Swiss Property	SWIT	Financials	0.18%
Pennon Group	UK	Utilities	0.18%
Thales	FRA	Industrials	0.17%
ITV	UK	Consumer Services	0.17%
Galp Energia SGPS SA	PTL	Energy	0.16%
Centrica	UK	Utilities	0.16%
Carnival	UK	Consumer Services	0.16%
SKF B	SWED	Industrials	0.15%
Euronext	FRA	Financials	0.15%
Randstad NV	NETH	Industrials	0.15%
Bunzl	UK	Industrials	0.15%
Schindler Holding (Cert)	SWIT	Industrials	0.15%
Amundi	FRA	Financials	0.14%
Fortum	FIN	Utilities	0.14%
Henkel Kgaa ORD	GER	Consumer Goods	0.14%
Wartsila B	FIN	Industrials	0.14%
Suez	FRA	Utilities	0.14%
Alfa Laval	SWED	Industrials	0.14%
Bellway	UK	Consumer Goods	0.14%
Sofina	BELG	Financials	0.13%
Sodexo	FRA	Consumer Services	0.13%
Tate & Lyle	UK	Consumer Goods	0.13%
HeidelbergCement AG	GER	Industrials	0.12%
Evonik Industries AG	GER	Basic Materials	0.12%
PKN (Polski Koncern Naftowy)	POL	Energy	0.12%
Ashmore Group	UK	Financials	0.12%
Nokian Tyres	FIN	Consumer Goods	0.11%
Rubis	FRA	Utilities	0.11%
Gjensidige Forsikring ASA	NOR	Financials	0.11%
Morrison (Wm) Supermarkets	UK	Consumer Services	0.11%
Travis Perkins	UK	Industrials	0.11%
Croda International	UK	Basic Materials	0.11%
Marks & Spencer Group	UK	Consumer Services	0.11%
A2A	ITA	Utilities	0.10%
Uniper SE	GER	Utilities	0.10%
Solvay A	BELG	Basic Materials	0.10%
Orion B	FIN	Health Care	0.10%
RTL Group	GER	Consumer Services	0.10%
Recordati	ITA	Health Care	0.10%
Inchcape	UK	Consumer Services	0.10%
Ems Chemie I	SWIT	Basic Materials	0.10%
GEA Group AG	GER	Industrials	0.09%
Hera	ITA	Utilities	0.09%
OMV	OEST	Energy	0.09%
ISS	DEN	Industrials	0.09%
BIC	FRA	Consumer Goods	0.09%
Electrolux Ser B	SWED	Consumer Goods	0.09%
Meggitt	UK	Industrials	0.09%
International Consolidated Airlines	UK	Consumer Services	0.09%
Inwit	ITA	Telecommunications	0.08%
Trelleborg Ab Ser B	SWED	Industrials	0.08%
Kesko B	FIN	Consumer Services	0.08%
SCA B	SWED	Basic Materials	0.08%
Colruyt	BELG	Consumer Services	0.08%
Aeroports de Paris	FRA	Industrials	0.08%
Italgas	ITA	Utilities	0.08%
IMI	UK	Industrials	0.08%
Swatch Group AG BR	SWIT	Consumer Goods	0.08%
Howden Joinery Group	UK	Industrials	0.08%
Signify NV	NETH	Industrials	0.07%
Fuchs Petrolub Pref SE	GER	Basic Materials	0.07%
Latour Investment B	SWED	Financials	0.07%
Telefonica Deutschland Holdings	GER	Telecommunications	0.07%
Hochtief	GER	Industrials	0.07%
Aalberts NV	NETH	Industrials	0.07%
Jeronimo Martins	PTL	Consumer Services	0.07%
ICA Gruppen AB	SWED	Consumer Services	0.07%
Schindler Holding (Reg)	SWIT	Industrials	0.07%
Fielmann	GER	Consumer Services	0.06%
Acciona S.A.	SP	Industrials	0.06%
Norsk Hydro	NOR	Basic Materials	0.06%
DKSH Holding	SWIT	Industrials	0.06%
Salmar ASA	NOR	Consumer Goods	0.06%
Zardoya Otis	SP	Industrials	0.06%
Securitas AB B	SWED	Industrials	0.06%
Clariant	SWIT	Basic Materials	0.06%
Hugo Boss AG	GER	Consumer Goods	0.05%
Polskie Gornictwo Naftowe I Gazownic	POL	Energy	0.05%
Fischer (Georg)	SWIT	Industrials	0.05%
Babcock International Group	UK	Industrials	0.05%
Flughafen Zurich	SWIT	Industrials	0.05%
OC Oerlikon Corp AG	SWIT	Industrials	0.05%
DWS Group	GER	Financials	0.04%
Fraport AG Frankfurt	GER	Industrials	0.04%
Fuchs Petrolub SE	GER	Basic Materials	0.04%
Lagardere Groupe	FRA	Consumer Services	0.04%
Deutsche Lufthansa AG	GER	Consumer Services	0.04%
Imerys	FRA	Basic Materials	0.04%
ProSiebenSat.1 Media SE	GER	Consumer Services	0.04%
Boskalis Westminster	NETH	Industrials	0.03%
Telekom Austria	OEST	Telecommunications	0.03%
Rational	GER	Industrials	0.03%
Dufry	SWIT	Consumer Services	0.03%
LEROY SEAFOOD GROUP	NOR	Consumer Goods	0.02%

Holdings subject to change.

SECTORS

Sector Allocation (as of 01/31/2020)	Weight
Health Care	17.26%
Consumer Goods	17.24%
Industrials	13.99%
Energy	11.67%
Financials	11.55%
Utilities	8.49%
Telecommunications	7.31%
Consumer Services	6.25%
Basic Materials	4.97%
Currency	1.09%
Technology	0.18%

COUNTRIES

COUNTRY ALLOCATION (AS OF 01/31/2020)	WEIGHT
United Kingdom	31.72%
Switzerland	20.01%
France	13.73%
Germany	8.87%
Netherlands	4.93%
Italy	3.83%
Spain	3.71%
Sweden	3.32%
Finland	3.09%
Denmark	2.56%
Norway	1.82%
Currency	1.09%
Portugal	0.54%
Belgium	0.49%
Poland	0.17%
Austria	0.13%

DISTRIBUTIONS

Ex-Dividend	Record	Payable	Distribution Per Share
01/29/2020	01/31/2020	02/04/2020	0.010016
12/27/2019	12/30/2019	01/03/2020	0.075846
11/27/2019	11/29/2019	12/03/2019	0.043407
10/30/2019	10/31/2019	11/04/2019	0.026271
9/27/2019	9/30/2019	10/02/2019	0.061076
8/28/2019	8/30/2019	9/4/2019	0.077041
7/30/2019	7/31/2019	8/2/2019	0.069644
6/27/2019	6/28/2019	7/2/2019	0.157961
5/30/2019	5/31/2019	6/4/2019	0.202602
4/26/2019	4/30/2019	5/2/2019	0.107351
3/28/2019	3/29/2019	4/2/2019	0.071441
2/27/2019	2/28/2019	3/4/2019	0.023321
1/30/2019	1/31/2019	2/4/2019	0.02221
12/27/2018	12/28/2018	1/3/2019	0.031869
11/29/2018	11/30/2018	12/4/2018	0.053308
10/30/2018	10/31/2018	11/2/2018	0.040566
9/27/2018	9/28/2018	10/2/2018	0.041525
8/29/2018	8/31/2018	9/5/2018	0.0630
7/30/2018	7/31/2018	8/2/2018	0.042
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	0% to 0.5%	> 0.5%
2019	252	21	166	1	60	4
12/31/2019	64	5	43	1	15	0
9/30/2019	64	7	48	0	9	0
6/30/2019	63	2	43	0	16	2
3/31/2019	61	7	32	0	20	2
2018	251	68	117	0	49	17
12/31/2018	63	22	30	0	7	4
9/30/2018	63	27	32	0	3	1
6/30/2018	64	13	40	0	10	1
3/31/2018	61	6	15	0	29	11
2017	252	25	51	0	129	47
12/31/2017	63	2	12	0	35	14
9/30/2017	63	0	11	0	41	11
6/30/2017	63	22	11	0	19	11
3/31/2017	63	1	17	0	34	11
2016	252	4	31	0	88	129
12/31/2016	63	1	17	0	34	11
9/30/2016	64	1	1	0	21	41
6/30/2016	64	2	7	0	25	30
3/31/2016	61	0	6	0	8	47
2015	95	4	8	0	21	62
12/31/2015	64	2	6	0	14	42
9/30/2015	31	2	2	0	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
Prospectus
Summary Prospectus
SAI
Semi-Annual Report
Annual Report

OEUR RESEARCH | NEWS

Fund & Market Data

Profile
Symbol	OEUR
Listing Exchange	NYSE/ARCA
Inception Date	8/19/2015
CUSIP	67110P506
Target Index Provider	FTSE Russell
Target Index Symbol	FEFQVY5N
IOPV Ticker	OEUR.IV
Expense Ratio	0.48%
30-Day SEC Yield¹ (as of 1/31/2020)	2.92%

MARKET DATA AS OF	02/19/2020
NAV Price	$25.77
NAV Price Change	$0.12
Premium/Discount	$0.03
Market Price	$25.80
Market Price Change	$0.23
Shares Outstanding	1,050,000
Volume	22,861
Total Net Assets	$27,056,505

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. The 30-day SEC yield is as of the prior month end.

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.

Performance

Monthly Performance (as of 01/31/2020)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	-1.17%	3.69%	8.28%	14.38%	-1.17%	-1.17%	3.47%
Market Value	-1.13%	3.53%	8.95%	14.62%	-1.13%	-1.13%	3.39%

Quarterly Performance (as of 12/31/2019)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	3.68%	7.78%	7.48%	22.53%	7.78%	22.53%	3.82%
Market Value	3.57%	7.77%	7.32%	22.55%	7.77%	22.55%	3.72%

Holdings

DOWNLOAD HOLDINGS

Name (as of 02/20/2020)	Country	Sector	Fund Weight
Roche Hldgs (GENUS)	SWIT	Health Care	5.47%
Novartis (REGD)	SWIT	Health Care	5.11%
Nestle	SWIT	Consumer Goods	4.84%
GlaxoSmithKline	UK	Health Care	3.50%
Total	FRA	Energy	2.57%
BP	UK	Energy	2.43%
Enel	ITA	Utilities	2.31%
Royal Dutch Shell A	UK	Energy	2.27%
Unilever NV CVA	NETH	Consumer Goods	2.11%
Novo-Nordisk B	DEN	Health Care	2.01%
Royal Dutch Shell B	UK	Energy	1.96%
British American Tobacco	UK	Consumer Goods	1.72%
Siemens AG	GER	Industrials	1.68%
Vodafone Group	UK	Telecommunications	1.67%
Unilever	UK	Consumer Goods	1.64%
Diageo	UK	Consumer Goods	1.57%
National Grid	UK	Utilities	1.41%
Deutsche Telekom	GER	Telecommunications	1.36%
Rio Tinto	UK	Basic Materials	1.31%
Vonovia SE	GER	Financials	1.20%
Vinci	FRA	Industrials	1.11%
L'Oreal	FRA	Consumer Goods	1.09%
CASHUSD	Curr	Currency	1.06%
Sampo Oyi	FIN	Financials	1.01%
Schneider Electric	FRA	Industrials	1.01%
3i Group	UK	Financials	1.01%
BASF	GER	Basic Materials	0.99%
Segro	UK	Financials	0.95%
Ahold Delhaize	NETH	Consumer Services	0.93%
Air Liquide	FRA	Basic Materials	0.92%
RELX	UK	Consumer Services	0.89%
Engie	FRA	Utilities	0.87%
Kering	FRA	Consumer Services	0.84%
Telefonica	SP	Telecommunications	0.80%
Partners Group AG	SWIT	Financials	0.80%
Kone B	FIN	Industrials	0.74%
Orange	FRA	Telecommunications	0.72%
Ferguson	UK	Industrials	0.71%
Deutsche Wohnen SE	GER	Financials	0.67%
ABB	SWIT	Industrials	0.66%
Aroundtown SA	GER	Financials	0.63%
Eni	ITA	Energy	0.62%
Admiral Group	UK	Financials	0.62%
Imperial Brands	UK	Consumer Goods	0.62%
Gecina	FRA	Financials	0.61%
Koninklijke Philips	NETH	Health Care	0.61%
Inditex	SP	Consumer Services	0.57%
Direct Line Insurance Group	UK	Financials	0.55%
Swisscom	SWIT	Telecommunications	0.55%
BT Group	UK	Telecommunications	0.54%
Telenor A/S	NOR	Telecommunications	0.52%
LEG Immobilien AG	GER	Financials	0.52%
Alstom	FRA	Industrials	0.51%
Geberit N	SWIT	Industrials	0.51%
Unibail Rodamco Westfield	NETH	Financials	0.50%
SGS S.A.	SWIT	Industrials	0.49%
Equinor ASA	NOR	Energy	0.47%
Castellum	SWED	Financials	0.46%
BAE Systems	UK	Industrials	0.45%
Aena SME SA	SP	Industrials	0.44%
H & M Hennes & Mauritz AB B	SWED	Consumer Services	0.44%
Telia Co AB	SWED	Telecommunications	0.43%
Sandvik AB	SWED	Industrials	0.41%
Kuehne & Nagel International	SWIT	Industrials	0.40%
Endesa	SP	Utilities	0.38%
Coloplast B	DEN	Health Care	0.37%
UPM-Kymmene	FIN	Basic Materials	0.37%
Volvo B	SWED	Industrials	0.36%
RED ELECTRICA CORP SA	SP	Utilities	0.36%
Veolia Environnement	FRA	Utilities	0.35%
St Gobain (Cie De)	FRA	Industrials	0.35%
Persimmon	UK	Consumer Goods	0.35%
Legrand	FRA	Industrials	0.34%
EDP	PTL	Utilities	0.33%
Michelin B	FRA	Consumer Goods	0.33%
Klepierre	FRA	Financials	0.32%
SSE	UK	Utilities	0.32%
Merlin Properties Socimi SA	SP	Financials	0.31%
Snam	ITA	Energy	0.31%
Royal DSM	NETH	Basic Materials	0.31%
WPP	UK	Consumer Services	0.31%
Mondi	UK	Basic Materials	0.30%
Skanska B	SWED	Industrials	0.29%
Orkla A	NOR	Consumer Goods	0.29%
Naturgy Energy Group SA	SP	Utilities	0.28%
Terna	ITA	Utilities	0.27%
Enagas	SP	Utilities	0.27%
Adecco Group AG	SWIT	Industrials	0.27%
Continental	GER	Consumer Goods	0.27%
Elisa	FIN	Telecommunications	0.27%
Kingfisher	UK	Consumer Services	0.25%
Swiss Prime Site	SWIT	Financials	0.25%
United Utilities Group	UK	Utilities	0.25%
Covivio	FRA	Financials	0.24%
Henkel KG Pref	GER	Consumer Goods	0.24%
Mowi ASA	NOR	Consumer Goods	0.23%
Roche Hldgs (BR)	SWIT	Health Care	0.22%
Repsol	SP	Energy	0.22%
Severn Trent	UK	Utilities	0.22%
InterContinental Hotels Group	UK	Consumer Services	0.22%
Swedish Match	SWED	Consumer Goods	0.21%
Royal KPN	NETH	Telecommunications	0.20%
Taylor Wimpey	UK	Consumer Goods	0.20%
Carlsberg (B)	DEN	Consumer Goods	0.19%
Bouygues	FRA	Industrials	0.19%
Publicis Groupe	FRA	Consumer Services	0.19%
Sage Group	UK	Technology	0.19%
Associated British Foods	UK	Consumer Goods	0.19%
Proximus	BELG	Telecommunications	0.18%
Bureau Veritas S.A.	FRA	Industrials	0.18%
Barratt Developments	UK	Consumer Goods	0.18%
Next	UK	Consumer Services	0.18%
PSP Swiss Property	SWIT	Financials	0.18%
Pennon Group	UK	Utilities	0.18%
Thales	FRA	Industrials	0.17%
ITV	UK	Consumer Services	0.17%
Galp Energia SGPS SA	PTL	Energy	0.16%
Centrica	UK	Utilities	0.16%
Carnival	UK	Consumer Services	0.16%
SKF B	SWED	Industrials	0.15%
Euronext	FRA	Financials	0.15%
Randstad NV	NETH	Industrials	0.15%
Bunzl	UK	Industrials	0.15%
Schindler Holding (Cert)	SWIT	Industrials	0.15%
Amundi	FRA	Financials	0.14%
Fortum	FIN	Utilities	0.14%
Henkel Kgaa ORD	GER	Consumer Goods	0.14%
Wartsila B	FIN	Industrials	0.14%
Suez	FRA	Utilities	0.14%
Alfa Laval	SWED	Industrials	0.14%
Bellway	UK	Consumer Goods	0.14%
Sofina	BELG	Financials	0.13%
Sodexo	FRA	Consumer Services	0.13%
Tate & Lyle	UK	Consumer Goods	0.13%
HeidelbergCement AG	GER	Industrials	0.12%
Evonik Industries AG	GER	Basic Materials	0.12%
PKN (Polski Koncern Naftowy)	POL	Energy	0.12%
Ashmore Group	UK	Financials	0.12%
Nokian Tyres	FIN	Consumer Goods	0.11%
Rubis	FRA	Utilities	0.11%
Gjensidige Forsikring ASA	NOR	Financials	0.11%
Morrison (Wm) Supermarkets	UK	Consumer Services	0.11%
Travis Perkins	UK	Industrials	0.11%
Croda International	UK	Basic Materials	0.11%
Marks & Spencer Group	UK	Consumer Services	0.11%
A2A	ITA	Utilities	0.10%
Uniper SE	GER	Utilities	0.10%
Solvay A	BELG	Basic Materials	0.10%
Orion B	FIN	Health Care	0.10%
RTL Group	GER	Consumer Services	0.10%
Recordati	ITA	Health Care	0.10%
Inchcape	UK	Consumer Services	0.10%
Ems Chemie I	SWIT	Basic Materials	0.10%
GEA Group AG	GER	Industrials	0.09%
Hera	ITA	Utilities	0.09%
OMV	OEST	Energy	0.09%
ISS	DEN	Industrials	0.09%
BIC	FRA	Consumer Goods	0.09%
Electrolux Ser B	SWED	Consumer Goods	0.09%
Meggitt	UK	Industrials	0.09%
International Consolidated Airlines	UK	Consumer Services	0.09%
Inwit	ITA	Telecommunications	0.08%
Trelleborg Ab Ser B	SWED	Industrials	0.08%
Kesko B	FIN	Consumer Services	0.08%
SCA B	SWED	Basic Materials	0.08%
Colruyt	BELG	Consumer Services	0.08%
Aeroports de Paris	FRA	Industrials	0.08%
Italgas	ITA	Utilities	0.08%
IMI	UK	Industrials	0.08%
Swatch Group AG BR	SWIT	Consumer Goods	0.08%
Howden Joinery Group	UK	Industrials	0.08%
Signify NV	NETH	Industrials	0.07%
Fuchs Petrolub Pref SE	GER	Basic Materials	0.07%
Latour Investment B	SWED	Financials	0.07%
Telefonica Deutschland Holdings	GER	Telecommunications	0.07%
Hochtief	GER	Industrials	0.07%
Aalberts NV	NETH	Industrials	0.07%
Jeronimo Martins	PTL	Consumer Services	0.07%
ICA Gruppen AB	SWED	Consumer Services	0.07%
Schindler Holding (Reg)	SWIT	Industrials	0.07%
Fielmann	GER	Consumer Services	0.06%
Acciona S.A.	SP	Industrials	0.06%
Norsk Hydro	NOR	Basic Materials	0.06%
DKSH Holding	SWIT	Industrials	0.06%
Salmar ASA	NOR	Consumer Goods	0.06%
Zardoya Otis	SP	Industrials	0.06%
Securitas AB B	SWED	Industrials	0.06%
Clariant	SWIT	Basic Materials	0.06%
Hugo Boss AG	GER	Consumer Goods	0.05%
Polskie Gornictwo Naftowe I Gazownic	POL	Energy	0.05%
Fischer (Georg)	SWIT	Industrials	0.05%
Babcock International Group	UK	Industrials	0.05%
Flughafen Zurich	SWIT	Industrials	0.05%
OC Oerlikon Corp AG	SWIT	Industrials	0.05%
DWS Group	GER	Financials	0.04%
Fraport AG Frankfurt	GER	Industrials	0.04%
Fuchs Petrolub SE	GER	Basic Materials	0.04%
Lagardere Groupe	FRA	Consumer Services	0.04%
Deutsche Lufthansa AG	GER	Consumer Services	0.04%
Imerys	FRA	Basic Materials	0.04%
ProSiebenSat.1 Media SE	GER	Consumer Services	0.04%
Boskalis Westminster	NETH	Industrials	0.03%
Telekom Austria	OEST	Telecommunications	0.03%
Rational	GER	Industrials	0.03%
Dufry	SWIT	Consumer Services	0.03%
LEROY SEAFOOD GROUP	NOR	Consumer Goods	0.02%

Holdings subject to change.

Sector Allocation

Sector Allocation (as of 01/31/2020)	Weight
Health Care	17.26%
Consumer Goods	17.24%
Industrials	13.99%
Energy	11.67%
Financials	11.55%
Utilities	8.49%
Telecommunications	7.31%
Consumer Services	6.25%
Basic Materials	4.97%
Currency	1.09%
Technology	0.18%

Country Allocation

COUNTRY ALLOCATION (AS OF 01/31/2020)	WEIGHT
United Kingdom	31.72%
Switzerland	20.01%
France	13.73%
Germany	8.87%
Netherlands	4.93%
Italy	3.83%
Spain	3.71%
Sweden	3.32%
Finland	3.09%
Denmark	2.56%
Norway	1.82%
Currency	1.09%
Portugal	0.54%
Belgium	0.49%
Poland	0.17%
Austria	0.13%

Distributions

Ex-Dividend	Record	Payable	Distribution Per Share
01/29/2020	01/31/2020	02/04/2020	0.010016
12/27/2019	12/30/2019	01/03/2020	0.075846
11/27/2019	11/29/2019	12/03/2019	0.043407
10/30/2019	10/31/2019	11/04/2019	0.026271
9/27/2019	9/30/2019	10/02/2019	0.061076
8/28/2019	8/30/2019	9/4/2019	0.077041
7/30/2019	7/31/2019	8/2/2019	0.069644
6/27/2019	6/28/2019	7/2/2019	0.157961
5/30/2019	5/31/2019	6/4/2019	0.202602
4/26/2019	4/30/2019	5/2/2019	0.107351
3/28/2019	3/29/2019	4/2/2019	0.071441
2/27/2019	2/28/2019	3/4/2019	0.023321
1/30/2019	1/31/2019	2/4/2019	0.02221
12/27/2018	12/28/2018	1/3/2019	0.031869
11/29/2018	11/30/2018	12/4/2018	0.053308
10/30/2018	10/31/2018	11/2/2018	0.040566
9/27/2018	9/28/2018	10/2/2018	0.041525
8/29/2018	8/31/2018	9/5/2018	0.0630
7/30/2018	7/31/2018	8/2/2018	0.042
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	0% to 0.5%	> 0.5%
2019	252	21	166	1	60	4
12/31/2019	64	5	43	1	15	0
9/30/2019	64	7	48	0	9	0
6/30/2019	63	2	43	0	16	2
3/31/2019	61	7	32	0	20	2
2018	251	68	117	0	49	17
12/31/2018	63	22	30	0	7	4
9/30/2018	63	27	32	0	3	1
6/30/2018	64	13	40	0	10	1
3/31/2018	61	6	15	0	29	11
2017	252	25	51	0	129	47
12/31/2017	63	2	12	0	35	14
9/30/2017	63	0	11	0	41	11
6/30/2017	63	22	11	0	19	11
3/31/2017	63	1	17	0	34	11
2016	252	4	31	0	88	129
12/31/2016	63	1	17	0	34	11
9/30/2016	64	1	1	0	21	41
6/30/2016	64	2	7	0	25	30
3/31/2016	61	0	6	0	8	47
2015	95	4	8	0	21	62
12/31/2015	64	2	6	0	14	42
9/30/2015	31	2	2	0	7	20

Investor Resources

Investor Materials
Fact Sheet
Prospectus
Summary Prospectus
SAI
Semi-Annual Report
Annual Report

OEUR Research & News

O’Shares Strategy Series | Europe Large Caps

January 22, 2020

Kevin O’Leary: O’Shares ETFs

January 17, 2020

Euro and Pound: Cheap Currency and Attractive Valuations

January 13, 2020

Kevin O’Leary: Why Invest in ETFs?

December 20, 2019

Europe Equity Sector Scatterplot: Long-Term Performance vs. Risk

December 19, 2019

Europe Equity Country Scatterplot: Long-Term Performance vs. Risk

Europe Dividend Investing Research Paper

March 27, 2019

Research Paper: Europe Dividend Strategy Series

OEUR News

January 28, 2020

OEUR Returned 22.53% in 2019, Nearing 5-Year Track Record

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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 view or download a prospectus. 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. A 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. 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, a 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. See the prospectus for specific risks regarding the Funds.
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.
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