| Investment Objective: |
The Tradr 1X Short Innovation Daily ETF seeks the daily inverse investment results, before fees and expenses, that correspond to the inverse (-1x) of the return of the ARK Innovation ETF for a single trading day by entering into a swap on the ARK Innovation ETF. A single trading day is measured from the time the Fund calculates its NAV to the time of the Fund's next NAV calculation. The return of the Fund for periods longer than a single trading day will be the result of its return for each day compounded over the period. The Fund's returns for periods longer than a single trading day will very likely differ in amount, and possibly even direction, from the Fund's stated multiple (-1x) times the return of the Index for the same period. For periods longer than a single trading day, the Fund will lose money if the ARK Innovation ETF's performance is flat, and it is possible that the Fund will lose money even if the level of the ARK Innovation ETF's performance decreases. Longer holding periods, higher volatility, and greater inverse exposure each exacerbate the impact of compounding on an investor's returns. During periods of higher volatility, the volatility of the ARK Innovation ETF may affect the Fund's return as much as or more than the return of the ARK Innovation ETF. |
