Fund Name:

The Next Frontier internet & Ecommerce ETF

Data as of 03/27/2024

Primary Exchange
NYSE
Fund Inception
09/27/2021
Ticker
FMQQ
Gross Expense Ratio
0.86%
CUSIP
301505590
Shares Outstanding
2,075,000
Net Assets
$24,700,711
Median 30-day Bid/Ask Spread
0.50%
30 Day Median Bid-Ask Spread : The spread is calculated from (i) sampling the ETFs NBBO as of the end of each 10 second interval during each trading day of the last 30 calendar days; (ii) dividing the difference between each such bid and offer by the midpoint of the NBBO; and (iii) identifying the median of those values.

Premium Discount

NAV Market Price Premium/Discount
11.90 12.0200 0.1200

Month End as of 02/29/2024

Cumulative (%) Avg Annualized (%)
1 Mo. 3 Mo. YTD Since Inception 1 year 3 year 5 year Since Inception
Fund Nav 5.66% 6.55% 3.02% -55.07% 14.21% TBD TBD -28.10%
Closing Price 5.22% 8.16% 4.19% -54.64% 13.84% TBD TBD -27.82%

Calendar Quarter End as of 12/31/2023

Cumulative (%) Avg Annualized (%)
1 Mo. 3 Mo. YTD Since Inception 1 year 3 year 5 year Since Inception
Fund Nav 3.42% 9.46% 15.64% -56.39% 15.64% TBD TBD -30.73%
Closing Price 3.81% 8.10% 15.20% -56.46% 15.20% TBD TBD -30.78%
Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

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.
Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times.

Premium Discount Table

Calendar Year 2023 First Quarter 2024 Second Quarter 2024 Third Quarter 2024
Days traded at nav2
Days traded at premium 222
Days traded at discount 26
From March 2, 2022 through March 10, 2022 the market price of FMQQ traded more than 2% above the net asset value (NAV) of the fund. The fund‘s adviser believes that the premium of the fund‘s market price to its NAV is the result of one or more factors, such as the relative supply and demand for the fund‘s shares and the size of the fund. In addition, the fund holds securities of issuers doing business, or having headquarters, in Russia. Following the Russian invasion of Ukraine on February 24, 2022, these securities became subject to exchange or regulatory halts. The fund also has exposure to emerging markets, which have experienced increased volatility. The foregoing may lead to sustained periods of premiums or discounts.
From March 2, 2022 through March 10, 2022 the market price of FMQQ traded more than 2% above the net asset value (NAV) of the fund. The fund’s adviser believes that the premium of the fund’s market price to its NAV is the result of one or more factors, such as the relative supply and demand for the fund’s shares and the size of the fund. In addition, the fund holds securities of issuers doing business, or having headquarters, in Russia. Following the Russian invasion of Ukraine on February 24, 2022, these securities became subject to exchange or regulatory halts. The fund also has exposure to emerging markets, which have experienced increased volatility. The foregoing may lead to sustained periods of premiums or discounts.