| Investment Objective: |
VistaShares Defense Supercycle ETF is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in a portfolio of global defense procurement supply chain companies, referred to as "defense supercycle companies" . The Sub-Adviser exercises investment discretion in constructing the Fund's portfolio of global defense supercycle companies and actively selects portfolio holdings using the Index and its methodology as an initial baseline for its securities selection. Under normal circumstances, the Fund will invest at least 80% of the Fund's net assets in defense procurement supply chain companies. These investments can include equity securities and depositary receipts of issuers that are not Index constituents but that the Sub-Adviser would characterize as emerging defense procurement supply chain companies, based on the Sub-Adviser's analysis of publicly available business plans and as may be further evidenced by capital expenditures, research and development efforts and business acquisitions. The Fund may invest in any market capitalization companies. The Fund may invest in foreign securities that are located in developed and emerging markets. |
