OEUR

O’SHARES FTSE EUROPE QUALITY DIVIDEND ETF

MARKET DATA AS OF	09/24/2018
NAV Price	$24.46
NAV Price Change	$-0.10
Premium/Discount	$-0.14
Market Price	$24.32
Market Price Change	$-0.09
Shares Outstanding	1,650,000
Volume	4,468
Total Net Assets	$40,362,960

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	3.00%

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 08/31/2018)	1 MTH	3 MTH	6 MTH	1 YR	QTD	YTD	SI
NAV	-1.92%	2.21%	1.20%	1.15%	2.02%	-2.30%	6.31%
Market Value	-2.13%	1.62%	0.09%	0.52%	1.69%	-2.44%	5.61%

Quarterly Performance (as of 06/30/2018)	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 09/25/2018)	Country	Sector	Fund Weight
Nestle	SWIT	Consumer Goods	4.84%
Roche Hldgs (GENUS)	SWIT	Health Care	4.64%
Novartis (REGD)	SWIT	Health Care	4.37%
Total	FRA	Energy	3.62%
BP	UK	Energy	3.44%
Sanofi	FRA	Health Care	3.27%
GlaxoSmithKline	UK	Health Care	3.06%
Royal Dutch Shell A	UK	Energy	2.77%
BASF	GER	Basic Materials	2.75%
Royal Dutch Shell B	UK	Energy	2.22%
Vodafone Group	UK	Telecommunications	2.07%
WFD Unibail-Rodamco	NETH	Financials	1.49%
Novo-Nordisk B	DEN	Health Care	1.42%
Rio Tinto	UK	Basic Materials	1.31%
CASHUSD	Curr	Currency	1.27%
National Grid	UK	Utilities	1.26%
Unilever NV CVA	NETH	Consumer Goods	1.26%
Unilever	UK	Consumer Goods	1.25%
L'Oreal	FRA	Consumer Goods	1.20%
Anheuser-Busch InBev	BELG	Consumer Goods	1.18%
Sampo Oyi	FIN	Financials	1.18%
Eni	ITA	Energy	1.17%
Enel	ITA	Utilities	1.15%
Bayer AG	GER	Health Care	1.12%
Air Liquide	FRA	Basic Materials	1.08%
Vonovia SE	GER	Financials	1.06%
ABB	SWIT	Industrials	1.03%
RELX	UK	Consumer Services	1.00%
Deutsche Post	GER	Industrials	0.98%
Schneider Electric	FRA	Industrials	0.96%
Compass Group	UK	Consumer Services	0.88%
Deutsche Telekom	GER	Telecommunications	0.85%
Linde	GER	Basic Materials	0.84%
Gecina	FRA	Financials	0.84%
BAE Systems	UK	Industrials	0.82%
Telefonica	SP	Telecommunications	0.80%
3i Group	UK	Financials	0.78%
Vinci	FRA	Industrials	0.77%
Ahold Delhaize	NETH	Consumer Services	0.75%
Investor B Free	SWED	Financials	0.73%
Michelin B	FRA	Consumer Goods	0.73%
Inditex	SP	Consumer Services	0.73%
Kone B	FIN	Industrials	0.68%
Partners Group AG	SWIT	Financials	0.66%
Segro	UK	Financials	0.63%
Imperial Brands	UK	Consumer Goods	0.61%
Engie	FRA	Utilities	0.58%
SSE	UK	Utilities	0.56%
Atlas Copco A	SWED	Industrials	0.55%
BT Group	UK	Telecommunications	0.55%
Aroundtown SA	GER	Financials	0.51%
Deutsche Wohnen SE	GER	Financials	0.51%
H & M Hennes & Mauritz AB B	SWED	Consumer Services	0.49%
Orange	FRA	Telecommunications	0.48%
St Gobain (Cie De)	FRA	Industrials	0.47%
Telenor A/S	NOR	Telecommunications	0.46%
SGS S.A.	SWIT	Industrials	0.43%
LEG Immobilien AG	GER	Financials	0.42%
Admiral Group	UK	Financials	0.42%
Geberit N	SWIT	Industrials	0.42%
Swisscom	SWIT	Telecommunications	0.42%
Klepierre	FRA	Financials	0.41%
Experian	UK	Industrials	0.41%
Givaudan N	SWIT	Basic Materials	0.40%
Telia Co AB	SWED	Telecommunications	0.39%
Continental	GER	Consumer Goods	0.38%
Centrica	UK	Utilities	0.36%
Orkla A	NOR	Consumer Goods	0.36%
Equinor ASA	NOR	Energy	0.36%
UPM-Kymmene	FIN	Basic Materials	0.35%
Kuehne & Nagel International	SWIT	Industrials	0.35%
Direct Line Insurance Group	UK	Financials	0.34%
Smith & Nephew	UK	Health Care	0.31%
Atlas Copco B	SWED	Industrials	0.31%
Royal DSM	NETH	Basic Materials	0.29%
Endesa	SP	Utilities	0.29%
RED ELECTRICA CORP SA	SP	Utilities	0.28%
Industrivarden AB Ser A	SWED	Financials	0.28%
WPP	UK	Consumer Services	0.28%
Carnival	UK	Consumer Services	0.28%
Terna	ITA	Utilities	0.27%
Sandvik AB	SWED	Industrials	0.27%
Marine Harvest ASA	NOR	Consumer Goods	0.27%
Coloplast B	DEN	Health Care	0.27%
British Land Co	UK	Financials	0.26%
Aena SME SA	SP	Industrials	0.26%
Royal Mail	UK	Industrials	0.26%
Atlantia	ITA	Industrials	0.25%
Ferrovial	SP	Industrials	0.24%
TUI AG	UK	Consumer Services	0.23%
Industrivarden AB C Free	SWED	Financials	0.22%
Kingfisher	UK	Consumer Services	0.22%
Informa	UK	Consumer Services	0.22%
Investor A	SWED	Financials	0.22%
Publicis Groupe	FRA	Consumer Services	0.21%
Mondi	UK	Basic Materials	0.21%
Fortum	FIN	Utilities	0.21%
EDP	PTL	Utilities	0.21%
Kinnevik AB	SWED	Financials	0.20%
Luxottica Group	ITA	Consumer Goods	0.20%
Persimmon	UK	Consumer Goods	0.20%
Naturgy Energy Group SA	SP	Utilities	0.19%
Elisa	FIN	Telecommunications	0.19%
Veolia Environnement	FRA	Utilities	0.19%
Whitbread	UK	Consumer Services	0.19%
HeidelbergCement AG	GER	Industrials	0.18%
Covivio	FRA	Financials	0.18%
Smiths Group	UK	Industrials	0.18%
Schindler Holding (Cert)	SWIT	Industrials	0.18%
Roche Hldgs (BR)	SWIT	Health Care	0.18%
United Utilities Group	UK	Utilities	0.18%
Adecco Group AG	SWIT	Industrials	0.17%
Johnson Matthey	UK	Basic Materials	0.17%
Associated British Foods	UK	Consumer Goods	0.17%
Enagas	SP	Utilities	0.17%
Skanska B	SWED	Industrials	0.17%
PKN (Polski Koncern Naftowy)	POL	Energy	0.16%
Swedish Match	SWED	Consumer Goods	0.16%
Snam	ITA	Energy	0.16%
Next	UK	Consumer Services	0.15%
Hammerson	UK	Financials	0.15%
Sodexo	FRA	Consumer Services	0.15%
Swiss Prime Site	SWIT	Financials	0.15%
Solvay A	BELG	Basic Materials	0.15%
Merlin Properties Socimi SA	SP	Financials	0.15%
Royal KPN	NETH	Telecommunications	0.14%
ITV	UK	Consumer Services	0.14%
Bouygues	FRA	Industrials	0.14%
Tryg A/S	DEN	Financials	0.14%
Proximus	BELG	Telecommunications	0.13%
Galp Energia SGPS SA	PTL	Energy	0.13%
ISS	DEN	Industrials	0.13%
Orsted	DEN	Utilities	0.12%
Uniper SE	GER	Utilities	0.12%
ProSiebenSat.1 Media SE	GER	Consumer Services	0.12%
GEA Group AG	GER	Industrials	0.12%
Bureau Veritas S.A.	FRA	Industrials	0.12%
Severn Trent	UK	Utilities	0.12%
Marks & Spencer Group	UK	Consumer Services	0.12%
RTL Group	GER	Consumer Services	0.11%
PSP Swiss Property	SWIT	Financials	0.11%
BIC	FRA	Consumer Goods	0.11%
SKF B	SWED	Industrials	0.11%
Wartsila B	FIN	Industrials	0.11%
GVC Holdings	UK	Consumer Services	0.11%
Inchcape	UK	Consumer Services	0.11%
Ems Chemie I	SWIT	Basic Materials	0.11%
Sofina	BELG	Financials	0.10%
IMI	UK	Industrials	0.10%
Schindler Holding (Reg)	SWIT	Industrials	0.10%
RPC Group	UK	Industrials	0.10%
Hugo Boss AG	GER	Consumer Goods	0.09%
Rubis	FRA	Utilities	0.09%
Telefonica Deutschland Holdings	GER	Telecommunications	0.09%
Pennon Group	UK	Utilities	0.09%
Gjensidige Forsikring ASA	NOR	Financials	0.09%
Tate & Lyle	UK	Consumer Goods	0.09%
Nokian Renkaat	FIN	Consumer Goods	0.08%
Jeronimo Martins	PTL	Consumer Services	0.08%
Kesko B	FIN	Consumer Services	0.08%
Puma	GER	Consumer Goods	0.08%
Randstad NV	NETH	Industrials	0.08%
Colruyt	BELG	Consumer Services	0.08%
Tele2 AB	SWED	Telecommunications	0.08%
Orion B	FIN	Health Care	0.08%
A2A	ITA	Utilities	0.07%
Signify NV	NETH	Industrials	0.07%
Hochtief	GER	Industrials	0.07%
Zardoya Otis	SP	Industrials	0.07%
Securitas AB B	SWED	Industrials	0.07%
Innogy SE	GER	Utilities	0.07%
Trelleborg Ab Ser B	SWED	Industrials	0.07%
Travis Perkins	UK	Industrials	0.06%
Electrolux Ser B	SWED	Consumer Goods	0.06%
Ashmore Group	UK	Financials	0.06%
Fuchs Petrolub Pref SE	GER	Basic Materials	0.06%
Italgas	ITA	Utilities	0.06%
Fielmann	GER	Consumer Services	0.06%
Alba (Corp. Fin)	SP	Financials	0.06%
MAN	GER	Industrials	0.05%
Babcock International Group	UK	Industrials	0.05%
William Hill	UK	Consumer Services	0.05%
Latour Investment B	SWED	Financials	0.05%
ICA Gruppen AB	SWED	Consumer Services	0.05%
Axel Springer SE	GER	Consumer Services	0.04%
Polskie Gornictwo Naftowe I Gazownictwo	POL	Energy	0.04%
bpost SA	BELG	Industrials	0.04%
OC Oerlikon Corp AG	SWIT	Industrials	0.04%
Mediaset Espana Communicacion	SP	Consumer Services	0.04%
Huhtamaki	FIN	Industrials	0.04%
Fuchs Petrolub SE	GER	Basic Materials	0.03%
DKSH Holding	SWIT	Consumer Services	0.03%
Ceconomy AG	GER	Consumer Services	0.02%
Telekom Austria	OEST	Telecommunications	0.02%

SECTORS

Sector Allocation (as of 9/24/2018)	Weight
Health Care	18.71%
Energy	14.08%
Consumer Goods	13.33%
Financials	12.41%
Industrials	12.07%
Basic Materials	7.76%
Consumer Services	7.03%
Telecommunications	6.67%
Utilities	6.66%
Currency	1.27%
Technology	0.00%
Other	0.00%

COUNTRIES

COUNTRY ALLOCATION (AS OF 09/24/2018)	WEIGHT
United Kingdom	29.62%
Switzerland	18.63%
France	15.60%
Germany	10.77%
Sweden	4.49%
Netherlands	4.08%
Italy	3.33%
Spain	3.27%
Finland	3.00%
Denmark	2.08%
Belgium	1.68%
Norway	1.54%
Currency	1.27%
Portugal	0.42%
Austria	0.02%
United States	0.00%

DISTRIBUTIONS

Ex-Dividend	Record	Payable	Distribution Per Share
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% to 0.5%	> 0.5%
2018	125	19	55	39	12
6/30/2018	64	13	40	10	1
3/31/2018	61	6	15	29	11
2017	252	25	51	129	47
12/31/2017	63	2	12	35	14
9/30/2017	63	0	11	41	11
6/30/2017	63	22	11	19	11
3/31/2017	63	1	17	34	11
2016	252	4	31	88	129
12/31/2016	63	1	17	34	11
9/30/2016	64	1	1	21	41
6/30/2016	64	2	7	25	30
3/31/2016	61	0	6	8	47
2015	95	4	8	21	62
12/31/2015	64	2	6	14	42
9/30/2015	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
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.
Companies involved with the Internet, technology and e-commerce are exposed to risks associated with rapid advances in technology, obsolescence of current products and services, the finite life of patents and the constant threat of global competition and substitutes.
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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