The RPAR Risk Parity ETF

Access risk-parity for the first time in the U.S. in a tax-efficient, liquid ETF structure.

  • The fund will diversify its allocations amongst four asset classes – equities, commodities, Treasury bonds (Treasuries), and Treasury inflation-protected securities (TIPS).
  • Holdings are structured in the efforts of each asset class presenting a similar risk and return profile.
  • Seeks to generate positive returns during periods of economic growth, preserve capital during periods of economic contraction, and preserve real rates of return during periods of heightened inflation.

The Index

The RPAR Risk Parity ETF is managed to track the Advanced Research Risk Parity Index, which is a proprietary index created by ARIS and EQM Indexes. The index is designed to target similar risk contributions from four diversifying asset classes – equities, commodities, Treasury bonds (Treasuries), and Treasury inflation-protected securities (TIPS). Returns for the index are available from Bloomberg [RPARTR]. It is not possible to invest directly in an index.

FUND INFORMATION
Fund Inception 12/13/2019
Ticker RPAR
Primary Exchange NYSE
CUSIP 886364603
IOPV Symbol RPAR.IV
NAV Symbol RPAR.NV
Gross Expense Ratio * 0.53%
Net Expense Ratio * 0.50%
30 Day SEC Yield *

* The Fund's investment adviser has contractually agreed to waive 3 basis points (0.03%) of its management fees for the Fund until at least February 28, 2021.

FUND DATA & PRICING
Net Assets $175.51m
NAV $20.77
Shares Outstanding 8,450,000
Premium/discount Percentage 0.18%
Closing Price $20.81

Data as of 02/14/2020

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

PERFORMANCE Returns as of 12/31/2019
  AVG. ANNUALIZED
  MTD QTD YTD 1 YEAR SINCE INCEPTION
Market Price - - -   0.73%
Fund NAV - - -   0.66%
Benchmark Index - - -   1.16%

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 540-0039.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Only returns greater than 1 year will be annualized.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

RETURNS
  YTD January 2020 2019
Market Price 2.56% n/a
Fund NAV 2.21% n/a
Benchmark Index 2.61% n/a

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (833) 540-0039.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. Only returns greater than 1 year will be annualized.

A fund's NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

DISTRIBUTION DETAIL
EX-Date Record Date Payable Date Amount
December 26, 2019 December 27, 2019 December 31, 2019 0.04717
TOP 10 HOLDINGS
Percentage Of Net Assets Name Identifier Shares Held Market Value
15.50 US ULTRA BOND CBT Mar20 WNH0 COMDTY 141.00 27195375.00
14.75 UNITED STATES TREAS BILLS 912796SV2 26014000.00 25881315.85
12.90 VANGUARD INDEX FDS TOTAL STK MKT VTI 131820.00 22633494.00
12.69 US 10YR NOTE (CBT)Mar20 TYH0 COMDTY 170.00 22267343.75
10.40 GRANITESHARES GOLD TR SHS BEN INT BAR 1156298.00 18246382.44
7.51 VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF VWO 301158.00 13181685.66
5.15 UNITED STATES TREAS BDS TIPS 2.125% 41 2.125% 02/1 912810QP6 6523306.00 9033746.37
4.92 VANGUARD FTSE DEVELOPED ETF VEA 196378.00 8630813.10
4.05 UNITED STATES TREAS BDS TIPS 02/15/40 1.375% 02/15 912810RF7 5688325.00 7099769.37
3.65 TSY INFL IX N/B 0 3/4 02/15/45 0.75% 02/15/2045 912810RL4 5811012.00 6411384.96

Data as of 02/18/2020.Holdings are subject to change.