ZHDG ETF Profile

Family:	Zega ETF
Name:	ZEGA Buy and Hedge ETF

Inception Date:	6-Jul-2021
Termination Date:
Investment Objective:	The ZEGA Buy and Hedge ETF (ZHDG) is an actively-managed exchange-traded fund ( ETF ) that seeks to provide exposure to the U.S. large capitalization equity market, while mitigating overall market downside risk in the event of a major market decline. To achieve its investment objective, ZHDG invests in a combination of S&P 500 index options as well as fixed income or other income producing securities. The portion of the portfolio invested in equity index options provides long-term exposure to the equity markets, seeking upside potential while mitigating downside risk. The portion of the portfolio invested in yield-bearing positions seeks cash generation to purchase the equity options. ZHDG aims to limit equity losses to 8-10% in any 12-month period. The total portfolio may still experience losses in excess of the 8-10% target range over a 12-month period. The underlying yield-bearing investments may experience losses, but ZHDG seeks to limit those losses to 10% through its investments in purchased put options.

Prospectus

Top 10 Holdings
SPY 12/19/2025 205.01 C		66.7100%
United States Treasury Bill 03/11/2025	912797NQ6	6.3000%
United States Treasury Bill 06/12/2025	912797LN5	6.2100%
Cash & Other		4.5000%
United States Treasury Bill 05/15/2025	912797LB1	4.1300%
United States Treasury Note/Bond 2.625% 04/15/2025	91282CEH0	4.0300%
United States Treasury Note/Bond 3% 07/15/2025	91282CEY3	3.1900%
United States Treasury Note/Bond 3.875% 01/15/2026	91282CGE5	3.1900%
SPY US 12/19/25 P530		0.4500%
SPY US 09/19/25 P530		0.4000%
	Top 10 Holdings Weight:	99.1%