RETURN STACKED®

RSSY

U.S. Stocks & Futures Yield

Why Invest In RSSY ETF?

For every $1 invested, RSSY is designed to provide $1 of large-cap U.S. equity exposure and $1 of a futures yield strategy.

01 // The Case

Investment Case

Capital Efficiency and Diversification. Aims to provide simultaneous exposure to U.S. stocks and a futures yield strategy.  For every $1 invested, RSSY aims to provide $1 of exposure to large-cap U.S. equities and $1 of exposure to a futures yield strategy.

Diversification: RSSY seeks to provide exposure to a futures yield strategy that has historically exhibited low average correlations to both stocks and bonds.

Directional Alternative: With the ability to go both long and short global futures markets (including equities, bonds, commodities, and currencies), futures yield (carry) has the potential to dynamically respond to changing market regimes and complement other directional alternative strategies like trend following.

Diversification does not assure a profit.

02 // Objective

Fund
Overview

The Fund seeks long-term capital appreciation by investing in two complementary investment strategies: a U.S. equity strategy and a futures yield strategy.  For every $1 invested, the Fund attempts to provide $1 of exposure to its U.S. equity strategy and $1 of exposure to its futures yield strategy.

The U.S. equity strategy seeks to capture the total return of large-cap U.S. investing in large-cap U.S. equities, large-cap U.S. equity ETFs, or U.S. equity index futures.

The futures yield strategy will invest long and short across commodities, currencies, bonds, and equities via futures contracts using a systematic and quantitative process that seeks to harvest roll yield (carry) in futures contracts.<

03 // Information

Fund FAQs

RSSY rebalances daily.

The U.S. equity strategy within RSSY can hold U.S. equities, U.S. equity ETFs, and U.S. equity index futures, or any combination thereof.

For example, RSST may hold 50% in a large-cap U.S. equity ETF and gain the remaining 50% equity exposure through U.S. equity index futures.

  • 50% iShares S&P 500 ETF (“IVV”)
  • 50% S&P 500 E-Mini Futures Contract

The Futures Yield strategy will also have long or short positions in U.S. equity index futures, increasing or decreasing their net exposure.

The returns of an asset largely can be decomposed into two sources: (1) price appreciation and (2) yield (sometimes called “carry”).

The second component can be loosely defined as the expected return of an investment assuming no change in its price.  More thoroughly, the second source of return captures the economic benefit of simply holding an asset minus the costs associated with holding it.

Futures yield strategies seek to maximize exposure to this second component of returns.

There are tax considerations to be aware of when implementing RSSY into portfolios.  For example, daily gains and losses in futures contracts may need to be calculated as realized for tax purposes, which may affect ordinary income or capital gains depending upon the contract. You should consult your tax advisor before investing.

Distributions, if any, are expected to be made annually at the end of each calendar year.

04 // Information

Fund
Details

Fund Details

new column new column wdt_ID
Fund Inception 5/28/2024 8
Ticker RSSY 9
Primary Exchange CBOE 10
CUSIP 88636J345 11
Expense Ratio 1.04% 13
Name value date
30-Day SEC Yield 0.00 05/31/2024

*The 30-Day Yield represents net investment income earned by the Fund over the 30-Day period ended on the date indicated by the Yield, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period. The 30-Day unsubsidized SEC Yield does not reflect any fee waivers/reimbursements/limits in effect.

Fund Data & Pricing

Name
06/18/2024

**30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the 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; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Performance

The performance data quoted above 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 above.

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 historical returns. Returns beyond 1 year are 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 Details

Top 10 Holdings

Date Account StockTicker SecurityName CUSIP Shares Price MarketValue Weightings NetAssets SharesOutstanding CreationUnits MoneyMarketFlag
06/20/2024 RSSY ADU4 Curncy AUDUSD Crncy Fut Sep24 ADU4 CURNCY 245 66.74 16,350,075.00 13.10 124,868,485 5,950,000 238
06/20/2024 RSSY BPU4 Curncy BP CURRENCY FUT Sep24 BPU4 CURNCY 6 127.17 476,887.50 0.38 124,868,485 5,950,000 238
06/20/2024 RSSY CDU4 Curncy C$ CURRENCY FUT Sep24 CDU4 CURNCY -1,180 73.07 -86,216,700.00 -69.06 124,868,485 5,950,000 238
06/20/2024 RSSY CLQ4 Comdty WTI CRUDE FUTURE Aug24 CLQ4 COMDTY 125 80.71 10,088,750.00 8.08 124,868,485 5,950,000 238
06/20/2024 RSSY COQ4 Comdty BRENT CRUDE FUTR Aug24 COQ4 COMDTY 122 85.33 10,410,260.00 8.34 124,868,485 5,950,000 238
06/20/2024 RSSY ECU4 Curncy EURO FX CURR FUT Sep24 ECU4 CURNCY -288 1.08 -38,827,800.00 -31.10 124,868,485 5,950,000 238
06/20/2024 RSSY ESU4 Index S&P500 EMINI FUT Sep24 ESU4 INDEX 58 5,559.75 16,123,275.00 12.92 124,868,485 5,950,000 238
06/20/2024 RSSY FGXXX First American Government Obligations Fund 12/01/2031 31846V336 12,324,158 100.00 12,324,158.59 9.87 124,868,485 5,950,000 238 Y
06/20/2024 RSSY FVU4 Comdty US 5YR NOTE (CBT) Sep24 FVU4 COMDTY -568 107.02 -60,784,875.00 -48.69 124,868,485 5,950,000 238
06/20/2024 RSSY G U4 Comdty LONG GILT FUTURE Sep24 G U4 COMDTY 471 98.71 59,001,269.05 47.26 124,868,485 5,950,000 238
06/20/2024 RSSY GCQ4 Comdty GOLD 100 OZ FUTR Aug24 GCQ4 COMDTY -62 2,346.90 -14,550,780.00 -11.66 124,868,485 5,950,000 238
06/20/2024 RSSY GXM4 Index DAX INDEX FUTURE Jun24 GXM4 INDEX -16 18,133.00 -7,789,172.99 -6.24 124,868,485 5,950,000 238
06/20/2024 RSSY HGN4 Comdty COPPER FUTURE Jul24 HGN4 COMDTY 15 449.05 1,683,937.50 1.35 124,868,485 5,950,000 238
06/20/2024 RSSY HOQ4 Comdty NY Harb ULSD Fut Aug24 HOQ4 COMDTY -113 253.58 -12,034,906.80 -9.64 124,868,485 5,950,000 238
06/20/2024 RSSY IVV iShares Core S&P 500 ETF 464287200 170,493 549.64 93,709,772.52 75.07 124,868,485 5,950,000 238
06/20/2024 RSSY JYU4 Curncy JPN YEN CURR FUT Sep24 JYU4 CURNCY -356 64.25 -28,589,025.00 -22.90 124,868,485 5,950,000 238
06/20/2024 RSSY NGN24 Comdty NATURAL GAS FUTR Jul24 NGN24 COMDTY -23 2.91 -669,070.00 -0.54 124,868,485 5,950,000 238
06/20/2024 RSSY NQU4 Index NASDAQ 100 E-MINI Sep24 NQU4 INDEX 11 20,196.25 4,443,175.00 3.56 124,868,485 5,950,000 238
06/20/2024 RSSY NXU4 Index NIKKEI 225 (CME) Sep24 NXU4 INDEX -32 38,660.00 -6,185,600.00 -4.95 124,868,485 5,950,000 238
06/20/2024 RSSY PTU4 Index S&P/TSX 60 IX FUT Sep24 PTU4 INDEX -100 1,296.40 -18,889,010.31 -15.13 124,868,485 5,950,000 238
06/20/2024 RSSY QSN4 Comdty Low Su Gasoil G Jul24 QSN4 COMDTY 98 780.00 7,644,000.00 6.12 124,868,485 5,950,000 238
06/20/2024 RSSY RXU4 Comdty EURO-BUND FUTURE Sep24 RXU4 COMDTY -209 132.60 -29,761,273.21 -23.84 124,868,485 5,950,000 238
06/20/2024 RSSY SIU4 Comdty SILVER FUTURE Sep24 SIU4 COMDTY -13 29.88 -1,942,395.00 -1.56 124,868,485 5,950,000 238
06/20/2024 RSSY TYU4 Comdty US 10YR NOTE (CBT)Sep24 TYU4 COMDTY -324 110.80 -35,898,187.50 -28.76 124,868,485 5,950,000 238
06/20/2024 RSSY USU4 Comdty US LONG BOND(CBT) Sep24 USU4 COMDTY -93 120.44 -11,200,687.50 -8.97 124,868,485 5,950,000 238
06/20/2024 RSSY VGM4 Index EURO STOXX 50 Jun24 VGM4 INDEX -247 4,911.00 -13,026,525.20 -10.43 124,868,485 5,950,000 238
06/20/2024 RSSY XBN4 Comdty GASOLINE RBOB FUT Jul24 XBN4 COMDTY 72 248.32 7,509,196.80 6.02 124,868,485 5,950,000 238
06/20/2024 RSSY Z M4 Index FTSE 100 IDX FUT Jun24 Z M4 INDEX -275 8,194.50 -28,597,920.02 -22.91 124,868,485 5,950,000 238
06/20/2024 RSSY Cash&Other Cash & Other Cash&Other 18,802,551 1.00 18,802,551.35 15.06 124,868,485 5,950,000 238 Y

Holdings are subject to change without notice.

05 // Purchase

How to Buy

The Fund is available through various channels including via phone (310) 498-7655, broker-dealers, investment advisers, and other financial services firms, including:

The Fund, the Investment Adviser, Sub-Adviser, and Distributor are not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.

Important Disclosures

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please click here. Read the prospectus or summary prospectus carefully before investing.

Investments involve risk. Principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Brokerage commissions may apply and would reduce returns.

Derivatives Risk. Derivatives are instruments, such as futures contracts, whose value is derived from that of other assets, rates, or indices. The use of derivatives for non-hedging purposes may be considered to carry more risk than other types of investments.   Bond Risks. The Fund will be subject to bond and fixed income risks through its investments in U.S. Treasury securities, broad-based bond ETFs, and investments in U.S. Treasury and fixed income futures contracts. Changes in interest rates generally will cause the value of fixed-income and bond instruments held by Fund (or underlying ETFs) to vary inversely to such changes. Credit Risk: Credit risk refers to the possibility that the issuer of a security will not be able to make principal and interest payments when due. Changes in an issuer’s credit rating or the market’s perception of an issuer’s creditworthiness may also affect the value of the Fund’s investment in that issuer. Currency Risk: Currency risk is the risk that changes in currency exchange rates will negatively affect securities denominated in, and/or receiving revenues in, foreign currencies. The liquidity and trading value of foreign currencies could be affected by global economic factors, such as inflation, interest rate levels, and trade balances among countries, as well as the actions of sovereign governments and central banks. Foreign and Emerging Markets Risk. Foreign and emerging market investing involves currency, political and economic risk. Leverage Risk: As part of the Fund’s principal investment strategy, the Fund will make investments in futures contracts to gain long and short exposure across four major asset classes (commodities, currencies, fixed income, and equities). These derivative instruments provide the economic effect of financial leverage by creating additional investment exposure to the underlying instrument, as well as the potential for greater loss. Non-Diversification Risk. The Fund is non-diversified, meaning that it is permitted to invest a larger percentage of its assets in fewer issuers than diversified funds. Underlying ETFs Risk. The Fund will incur higher and duplicative expenses because it invests in bond ETFs. The Fund may also suffer losses due to the investment practices of the underlying bond ETFs. New Fund Risk. The Fund is a recently organized with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.  Illiquid Investments Risk. The Fund may, at times, hold illiquid investments, by virtue of the absence of a readily available market for certain of its investments, or because of legal or contractual restrictions on sales.

Bloomberg Short-Term Treasury Total Return Index – The Bloomberg US Short Treasury Index measures the performance of the US Treasury bills, notes, and bonds under 1 year to maturity. STRIPS are excluded from the index because their inclusion would result in double-counting.

Bloomberg U.S. Aggregate Bond Index – The Bloomberg Aggregate Bond Index is a broad-based fixed-income index used by bond traders and the managers of mutual funds and exchange-traded funds (ETFs) as a benchmark to measure their relative performance. 

FTSE All World Index – The FTSE All-World Index is a market-capitalization weighted index representing the performance of the large and mid-cap stocks from the FTSE Global Equity Index Series and covers 90-95% of the investable market capitalization.

Tidal Financial Group, LLC (“Tidal”) serves as investment adviser to the Funds and the Funds’ Subsidiary.

Newfound Research LLC (“Newfound”) serves as investment sub-adviser to the Funds.

ReSolve Asset Management SEZC (Cayman) (“ReSolve”) serves as futures trading advisor to the Fund and the Funds’ Subsidiary.

Foreside Fund Services, LLC is the distributor for the Funds. Foreside is not related to Tidal, Newfound, or ReSolve.

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