IVAL: International Quantitative Value ETF

THE STRATEGY SEEKS TO BUY THE CHEAPEST, HIGHEST QUALITY VALUE STOCKS

Systematic

The strategy stock selection algorithm is fully automated.

The stock selection process identifies a portfolio that generally holds 50 stocks.

The strategy seeks to invest in the cheapest, highest quality value stocks.

As of Date
03/28/2023

Ticker	Index Ticker	CUSIP	Inception	Expense Ratio	Premium / Discount	AUM ($mm)	Shares
IVAL		02072L201	12/17/2014	0.49	0.06%	129.74	5,625,000

NAV	Change ($)	Change (%)
23.07	0.47	2.06

Market Price	Change ($)	Change (%)
23.08	0.31	1.38

Period
12/30/2022
12/31/2021

Completed Calendar Quarters of Current Year

Year	Quarter	Days Traded at Premium	Days Traded at Discount
2022	2	35	27
2022	3	36	28
2022	4	36	27