LHA Market State™ Shares

Risk-Responsive Core Equity Investing

LHA Market State™ Tactical Beta ETF (Ticker Symbol: MSTB)

The LHA Market State™ Tactical Beta ETF (Ticker Symbol: MSTB) seeks long-term out-performance relative to the large-capitalization U.S. equity market.

  • The ETF offers exposure to the S&P 500® Index with a dynamic risk overlay.  In calm and/or rising U.S. equity markets, MSTB aims to provide upside participation.  As volatility increases, the MSTB aims to provide uncorrelated returns and decrease the impact of falling markets.
  • Upside Participation: MSTB seeks to provide “index-plus” returns in calm and rising U.S. equity markets.
  • Downside Reinforcement: MSTB seeks to preserve capital and provide uncorrelated returns in volatile conditions and falling U.S. equity markets.

FUND DOCUMENTS

FUND DATA & PRICING
Net Assets as of 11/20/2024 $142.65m
NAV $34.37
Shares Outstanding 4,150,000
Premium/discount Percentage -0.14%
Closing Price $34.33
Median 30 Day Spread 0.41%

Data as of 11/20/2024

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by Solactive AG which approximates the Fund's NAV every fifteen seconds throughout the trading day.

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values

 

PERFORMANCE Quarter end returns as of 06/30/2024
  AVG. ANNUALIZED
  Quarter 1 Year 3 Year Since Inception
Fund NAV 2.66 19.25 3.29 8.82
Fund Market Price 2.70 19.35 3.25 8.85

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (781) 639-3000 (ext.147). Please note that performance shown for periods that are less than one year are not annualized.

Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.

DISTRIBUTION DETAIL
EX- Date Record Date Payable Date Amount
12/30/2020 12/31/2020 01/04/2021 $0.48 per share
12/15/2021 12/16/2021 12/17/2021 $0.71 per share
12/15/2022 12/16/2022 12/19/2022 $0.33 per share
12/14/2023 12/15/2023 12/18/2023 $0.04 per share
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TOP HOLDINGS: November 21st
Percentage of Net Assets Name Identifier Shares Held Market Value
86.13% SPDR S&P 500 ETF Trust SPY 208,061 122,860,020.50
14.78% S&P500 EMINI FUT Dec24 ESZ4 Index 71 21,079,012.50
12.71% United States Treasury Bill 01/23/2025 912797JR9 18,273,000 18,132,857.42
0.71% First American Government Obligations Fund 12/01/2 FGXXX 1,014,346 1,014,346.47
0.71% First American Treasury Obligations Fund 01/01/204 FXFXX 1,014,346 1,014,346.47
0.18% United States Treasury Bill 02/20/2025 912797KA4 254,000 251,166.93
-0.44% Cash & Other Cash&Other -624,382 -624,381.60

Data as of 11/21/2024. Holdings are subject to change and should not be considered recommendations to buy or sell any security.

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