| Investment Objective: |
The Acquirers Small and Micro Deep Value ETF seeks to track the performance, before fees and expenses, of the Acquirers Deep Value Index (the "Index"). The Fund uses a "passive management" (or indexing) approach to track the performance, before fees and expenses, of the Index. Acquirers Deep Value Index tracks the performance of a portfolio of 100 of the most undervalued, fundamentally strong stocks of small- and micro-cap companies meeting certain liquidity thresholds. The Index defines small- and micro-cap companies to be those companies comprising the smallest 75% of stocks listed in the United States as ranked based on market capitalization, excluding foreign stocks listed in the United States and American Depositary Receipts. Business development companies are excluded from the Index. The Index identifies potentially undervalued stocks by using The Acquirer's Multiple, which is a valuation metric developed and published in 2014 by Tobias Carlisle, Managing Member of the Index Provider. The initial universe of stocks is then valued holisticallyassets, earnings, and cash flows are examinedin accordance with the Index methodology to understand the economic reality of each stock. |
