Aware Ultra-Short Duration Enhanced Income ETF

NAV $49.80
Change $0.02
ITD Return 3.22%
30 Day SEC Yield 1.01%
Expense Ratio 0.23%
NAIC Rating 2A
As of November 25, 2020

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by clicking here. Please read the prospectus carefully before you invest.

As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. The Fund is new with a limited operating history. There are a limited number of financial institutions authorized to buy and sell shares directly with the Fund; and there may be a limited number of other liquidity providers in the marketplace. There is no assurance that Fund shares will trade at any volume, or at all, on any stock exchange. Low trading activity may result in shares trading at a material discount to NAV.

Since the Fund is actively managed it does not seek to replicate the performance of a specified index. The Fund therefore may have higher portfolio turnover and trading costs than index-based funds. The Fund may invest in other funds, and in so doing will incur the expenses and risks of those funds.

The Fund use short sales and derivatives (forwards, futures, swaps, and options), both of which may involve substantial risk. The loss on a short sale is in principle unlimited since there is no upward limit on the price of a shorted asset. The potential loss from a derivative may be greater than the amount invested due to counter-party default; illiquidity; or other factors. The Fund may hold illiquid assets (such as private placements) which may cause a loss if the Fund is unable to sell an asset at a beneficial time or price.

The Fund is not a money market fund and does not seek to maintain a stable NAV of $1.00 per Share. An investment in the fund involves risk, including possible loss of principal. There is no guarantee that the Fund will achieve or maintain a status or credit quality equivalent to “investment grade.”

Shares of the Fund are distributed by Foreside Fund Services, LLC.


For the purpose of the Fund’s yield target, yield is defined as the weighted average yield-to-maturity of the Fund’s holdings. The yield or total return obtained by Fund shareholders may be different. Yield-to-maturity is the return from a fixed income instrument assuming the instrument is held to maturity. There is no guarantee that the fund will meet its income target.

The Effective Duration figure is based on the weighted average duration of the Fund’s holdings. Duration is a measure of the sensitivity of a bond’s price to interest rate changes.

30-Day SEC Yield is derived by dividing the Fund’s net investment income per share over a 30-day period by the Fund’s NAV on the last day of the period, and annualizing the result. The yield obtained by a Fund shareholder may be different.

Premium/Discount Average
● The average premium or discount of the market price to the net asset value (NAV) over the time period, expressed as a percentage of the NAV. This is based on an average of month-end prices for the year.

Premium/Discount (as of market close)
● The average premium or discount of the market price to the net asset value (NAV) at the close of the market, expressed as a percentage of the NAV.

Effective Maturity
● The average effective maturity is the weighted average of the maturities of the underlying holdings computed by weighing each holding's maturity by its market value with respect to the portfolio and the likelihood of any of the bonds being called.

Distribution Yield
● The distribution yield measures the cash flow paid by the Fund. Rather than calculating the yield based on an aggregate of distributions, the most recent distribution is annualized and divided by the net asset value (NAV) at the time of the payment.

Estimated Yield to Maturity
● Yield to maturity (YTM) is the total return anticipated on a bond if the bond is held until it matures. Yield to maturity is considered a long-term bond yield but it is expressed as an annual rate. It is the internal rate of return (IRR) of an investment in a bond if the investor holds the bond until maturity, with all payments made as scheduled and reinvested at the same rate.

ICE BofAML 3-Month TBill Index
● The ICE BofAML 3-Month TBill Index is an unmanaged index that measures returns of 3-month TBills.

Average Volume
● Average Volume is the average number of shares that trade over a given time period.

Bid/Ask Spread
● The Bid/Ask Spread is the difference between the price at which someone is willing to buy that stock or ETF (the "bid") and the price at which someone is willing to sell (the "ask").

The performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Investment return and principal value will fluctuate so that an investor’s shares, when sold, may be worth more or less than their original cost. Market returns are based on the bid/ask midpoint at 4:00 pm Eastern time, when the NAV typically is calculated. Market performance does not represent the returns you would receive if you traded shares at other times. Visit for the Fund’s most recent month-end returns.