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 ** 2.26%

* 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.

** As of 03/31/20

FUND DATA & PRICING
Net Assets $300.73m
NAV $19.62
Shares Outstanding 15,325,000
Premium/discount Percentage 0.70%
Closing Price $19.76

Data as of 04/07/2020

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
As of March 31, 2020 As of March 31, 2020
  MTD QTD YTD QTD YTD 1 YEAR 3 YEAR SINCE INCEPTION
Market Price -5.95% -4.09% -4.09% -4.09% -4.09% - - -3.39%
Fund NAV -7.01% -5.07% -5.07% -5.07% -5.07% - - -4.45%
Benchmark Index -6.22% -4.31% -4.31% -4.31% -4.31% - - -3.20%

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 March 2020 2019
Market Price -4.09% n/a
Fund NAV -5.07% n/a
Benchmark Index -4.31% 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
March 25, 2020 March 26, 2020 March 30, 2020 0.03871
TOP 10 HOLDINGS
Percentage Of Net Assets Name Identifier Shares Held Market Value
23.94 US 10YR NOTE (CBT)Jun20 TYM0 COMDTY 522.00 71987062.50
18.13 GRANITESHARES GOLD TR SHS BEN INT BAR 3308414.00 54522662.72
17.30 US ULTRA BOND CBT Jun20 WNM0 COMDTY 233.00 52024531.25
15.41 UNITED STATES TREAS BILLS 912796SV2 46348000.00 46337777.49
10.96 ISHARES TR CORE S&P TTL STK ITOT 562613.00 32963495.67
9.39 Cash & Other Cash&Other 28244636.98 28244636.98
6.60 SPDR INDEX SHS FDS PORTFOLIO EMG MK SPEM 678397.00 19843112.25
4.56 SPDR INDEX SHS FDS PORTFOLIO DEVLPD SPDW 565428.00 13705974.72
4.26 FIDELITY COVINGTON TR MSCI ENERGY IDX FENY 1543114.00 12823277.34
3.10 UNITED STATES TREAS BDS TIPS 2.125% 41 2.125% 02/1 912810QP6 6433617.00 9333834.73

Data as of 04/08/2020.Holdings are subject to change.