REVERB

Investment Objective

The Reverb ETF (the “Fund”) seeks to provide long-term capital appreciation.

The fund pursues its investment objective by seeking exposure to a novel source of economic information - ratings collected by the dedicated Reverberate App, which invites the public to express their case-by-case satisfaction with the companies impacting their lives.

The Adviser has developed the Reverberate App (“Reverberate”), which uses its own proprietary technology and algorithms to collect, analyze and process ratings of public companies. With Reverberate, users have the ability to provide immediate feedback regarding any or all of the public companies featured on Reverberate, which is generally the set of companies in the Fund’s Investable Universe. The Reverberate App is available to the general public without charge and users do not need to be shareholders of the Fund (or vice versa).

The Adviser believes that, with transparent and intuitive statistical aggregation and sufficient usage, the signal from Reverberate could come to serve as a fair, reasonable and nearly real-time representation of public preferences. The Fund can use this information in an effort to position its portfolio in anticipation of near-term shifts in firm performance after significant changes in satisfaction levels, and in an effort to pursue a longer-term investment strategy by tilting investments towards the mix of corporations that Reverberate users prefer (and vice versa). Additionally, the Adviser hopes that this product will represent a chance for people to invest in the interests of the broadest possible segment of the population.

The Reverb ETF is a long-only, diversified equity product with limited active positions over and under a market cap-weighted benchmark portfolio of the 450-550 or so largest firms that are publicly listed on one or more major U.S. national securities exchanges as determined by the Adviser on the basis of their free float market capitalization (the “Investable Universe”). The portfolio will generally contain all securities within the Investable Universe. The Adviser will adjust the weightings of each security in the Fund's portfolio based on analysis of the data supplied by Reverberate.

We hope you’ll check out the fund as well as the app, which you can download by visiting www.rev.vote on your mobile device and use to voice opinions on the corporations impacting your life on whichever basis matters to you.

NAV Data as of TBD
Net Asset Value TBD
Daily Change TBD
Volume TBD
   
Market Price Data as of TBD
Closing Price TBD
Daily Change TBD
30-Day Median Bid/Ask Spread TBD
Premium/Discount TBD

The exchange-traded fund's median bid-ask spread is rounded to the nearest hundredth and computed by (1) identifying the exchange-traded fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days, (2) dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer, and (3) identifying the median of those values.

 

Performance

Month end returns as of: TBD

  1 Mo. 3 Mo. 6 Mo.   Since Inception (11/4/2022)
Fund NAV  
Market Price - - -   -

 

Quarter end returns as of: TBD

  1 Yr. 3 Yr. 5 Yr. 10 Yr. Since Inception (11/4/2022)
Fund NAV
Market Price - -  -  - -

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.

Shares are bought and sold are market price, not net asset value (NAV). Market returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. Eastern time. NAV represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day. Your returns may differ if you traded shares at other times.

 

HISTORICAL PREMIUM/DISCOUNT

 
Days at premium
Days at zero premium/discount
Days at discount

 

The exchange-traded fund's median bid-ask spread is rounded to the nearest hundredth and computed by (1) identifying the exchange-traded fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days, (2) dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer, and (3) identifying the median of those values.

PERCENTAGE OF NET ASSETS NAME TICKER IDENTIFIER SHARES HELD MARKET VALUE

Data as of TBD

 

The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company and can be towards the top of this web page. Please read carefully before investing.

Investing involves risk including possible loss of principal. The investment strategies, practices and risk analysis used by the Adviser may not produce the desired results. Other risks exist, including New Adviser Risk, Management Risk, Consumer Sentiment Risk, Research Risk, General Market Risk, Equity Securities Risk, High Portfolio Turnover Risk, general ETF Risks, New Fund Risk, and Sector Emphasis Risk, among others. Please see the detailed prospectus here for more details.

The Reverberate App is a new web-based utility and currently has limited users. The ability of the App to properly and accurately gauge public sentiment is highly dependent on its ability to attain a high level of regular usage among a broad market segment of the population. If the Adviser (Distribution Cognizant, LLC) is unable to take material active positions due to lack of sufficient data or otherwise, the Fund will likely experience performance similar to the broad large capitalization market in general. In that event, the information provided by the App may not properly reflect sentiment regarding a company, leading the Adviser to take active positions in a company that are inconsistent with broad market sentiment. The investment strategy of relying entirely on general public sentiment as expressed on a web-based user app in order to take active positions is novel. The strategy may not work and this may have a significant negative impact on the value of your investment.

The Adviser’s strategy is to base its investment decisions on the expressions of sentiment as identified in the Reverberate App. As a result, the Fund is subject to the risks, which may be substantial, that negative developments effecting a held company, the economy, or markets in general, may not be apparent to the users of the Reverberate App. Information received from the App may be inaccurate, incomplete, misleading, duplicative or outdated, making the information ineffective for accurately gauging current sentiment. There is a possibility that users have an undisclosed agenda and attempt to manipulate a company’s stock price. These potential developments could have a negative impact on the fund’s portfolio.

Distributor: Quasar Distributors, LLC.

Not FDIC Insured.
May Lose Value.
No Bank Guarantee.