Investing involves risk, including the possible loss of principal. The Funds are new with limited operating history. You could lose money by investing in the Funds. There is no guarantee the Funds will achieve their investment objectives and there is a risk that you could lose all of your money invested in the Funds. Neither one Fund nor the Funds taken in combination represent a complete investment program.
It is important that investors closely review all of the risks listed below and understand them before making an investment in the Funds. As actively-managed ETFs, the Funds are subject to Referenced Index Risk, Derivatives Risk, NAV Erosion Risk Due to Options Expirations, Counterparty Risk, Cybersecurity Risk, ETF Risks, General Market Risk, High Portfolio Turnover Risk, Inflation Risk, Liquidity Risk, New Fund Risk, Non-Diversification Risk, Operational Risk, Recent Market Events Risk, Tax Risk, and U.S. Government and U.S. Agency Obligations Risk.
The prospectus contains this and other information about the funds, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling (855) 833-4222.
Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. There can be no assurance that the Funds’ investment objectives will be achieved. Brokerage commissions will reduce returns. Although the Shares are listed for trading on the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained.
The value of the Shares will fluctuate with changes in the value of the equity securities in which it invests. Because the Funds are non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. Diversification does not assure a profit or protect against a loss in a declining market. The Fund is susceptible to operational risks through breaches in cyber security. Small and/or mid-capitalization companies may be more vulnerable to adverse general market or economic developments.
Kelly Strategic Management, LLC (d/b/a Kelly Intelligence) serves as the investment adviser to the Funds. Tidal Investments LLC serves as investment sub-adviser to the Funds.
DailyDelta ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with DailyDelta ETFs, Kelly Intelligence, or Tidal Investments.
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