Shareholder
Fees (fees paid directly from your
investment) |
|
Annual Fund Operating
Expenses (expenses
that you pay each year as a percentage of the value of your
investment) |
|
Management
Fees |
|
Distribution
and/or Service (12b-1) Fees* |
|
Acquired
Fund Fees and Expenses |
|
Other
Expenses |
|
Total Annual Fund
Operating Expenses |
|
1 Year |
3 Years |
5 Years |
10 Years |
$ |
$ |
$ |
$ |
1 |
2 |
3 |
● |
Options. If the
Fund buys an option, it buys a legal contract giving it the right to buy
or sell a specific amount of the underlying instrument or swap on the
underlying instrument at an agreed-upon price typically in exchange for a
premium paid by the Fund. In general, most options on interest rate swaps
are “European-style” options, which means that they can only be exercised
at the end of the option term. A decision as to whether, when and how to
use options involves the exercise of skill and judgment and even a
well-conceived option transaction may be unsuccessful because of market
behavior or unexpected events. The prices of options can be highly
volatile and the use of options can lower total
returns. |
4 |
5 |
6 |
7 |
8 |
9 |
|
Return |
Quarter
Ended/Year |
|
|
|
|
|
|
10 |
Quadratic Interest Rate
Volatility and Inflation Hedge ETF |
1 year |
Since Inception ( |
|
|
|
|
|
|
|
|
|
|
|
|
11 |
12 |
13 |
14 |
15 |
16 |
17 |
18 |
19 |
20 |
21 |
22 |
23 |
24 |
Quadratic
Interest Rate Volatility and Inflation Hedge ETF |
0.99% |
Quadratic
Interest Rate Volatility and Inflation Hedge ETF |
0.94% |
25 |
26 |
● |
Taking
the current market value of its total assets |
● |
Subtracting
any liabilities and withholdings (if any) |
● |
Dividing
that amount by the total number of shares owned by the
shareholders |
27 |
28 |
29 |
30 |
31 |
32 |
33 |
34 |
35 |
36 |
37 |
Quadratic Interest Rate
Volatility and Inflation Hedge ETF |
2021 |
2020
(1) |
Net
Asset Value, Beginning of Period ($) |
25.97 |
25.00 |
Net
Investment Income ($)* |
(0.02) |
0.17 |
Net
Realized and Unrealized Gain on Investments ($) |
3.51 |
1.54 |
Total
from Operations ($) |
3.49 |
1.71 |
Distribution
from Net Investment Income ($) |
(0.90) |
(0.51) |
Distribution
from Capital Gains ($) |
— |
— |
Return
of Capital ($) |
(0.09) |
(0.23) |
Total
from Distributions ($) |
(0.99) |
(0.74) |
Net
Asset Value, End of Period ($) |
28.47 |
25.97 |
Total
Return (%)** |
13.65 |
6.95 |
Net
Assets End of Period ($) (000) |
2,629,858 |
100,647 |
Ratio
of Expenses to Average Net Assets (%) |
0.94‡ |
0.97†‡ |
Ratio
of Expenses to Average Net Assets (Excluding Waivers) (%) |
0.99‡ |
1.02†‡ |
Ratio
of Net Investment Income to Average Net Assets (%) |
(0.06)‡ |
0.78†‡ |
Portfolio
Turnover (%) |
0 |
0†† |
* |
Per
share data calculated using average shares
method. |
** |
Total
return is based on the change in net asset value of a share during the
year or period and assumes reinvestment of dividends and distributions at
net asset value. Total return is for the period indicated and periods of
less than one year have not been annualized. The return shown does not
reflect the deduction of taxes that a shareholder would pay on Fund
distributions or the redemption of Fund shares. Excludes effects of
standard creation and redemption transaction fees associated with creation
units. |
† |
Annualized. |
†† |
Portfolio
turnover rate is for the period indicated and periods of less than one
year have not been annualized. Excludes effect of in-kind
transfers. |
‡ |
The
ratios of expenses and net investment income/(loss) to Average Net Assets
reflect the expenses and net investment income/(loss), respectively, for
the period as reported in the Statements of Operations and do not reflect
the Fund’s proportionate share of the income and expenses from investments
in other investment companies. |
(1) |
The
Fund commenced operations on May 14, 2019. |
38 |
39 |