VBB

Investment Objective

The Fund seeks to provide investors with total return.

Investment Strategy

The Fund is an actively-managed exchange-traded fund (“ETF”) that will invest at least 80% of its net assets (plus borrowings for investment purposes) in the securities of U.S. operating companies that have innovative balance sheets, which the Fund’s investment sub-adviser, Vident Investment Advisory, LLC (“Vident” or the “Sub-Adviser”), considers to be operating companies that directly or indirectly invest in, transact in, or otherwise have exposure to bitcoin (such as bitcoin custodians, exchanges or traders). This may include companies that invest in or have any portion of their assets accounted for by direct bitcoin holdings, including companies that hold or transact in relatively small amounts of bitcoin. The Fund may also invest up to 20% of its net assets in companies that do not meet the innovative balance sheet criteria above but otherwise operate in the bitcoin ecosystem. The broader bitcoin ecosystem includes, but is not limited to, bitcoin trading platforms, bitcoin miners, bitcoin custodians, digital wallet providers, companies that facilitate payments in bitcoin, and companies that provide other technology, equipment or services to companies operating in the bitcoin ecosystem. The Fund may invest in companies of any market capitalization. The Fund will not invest in bitcoin directly or indirectly through the use of derivatives. Investors seeking direct exposure to the price of bitcoin should consider another investment other than the Fund.