AGF Global Infrastructure ETF
Important information: Effective March 21, 2024, the AGF Global Infrastructure ETF will halt trading on April 15, 2024 and will liquidate on or around April 30, 2024. Please see Prospectus Supplement dated March 21, 2024 in the “Documents” section below.
Key Reasons to Invest
- Provides potential diversification and risk reduction benefits as listed infrastructure has historically exhibited lower correlations with traditional assets classes and lower volatility than global equities.
- Listed infrastructure securities may continue to offer higher dividend yields then equities or bonds.
- Employs a systematic, factor-driven investment strategy that uses a proprietary sector model and an expanded universe of global infrastructure equities to broaden the opportunity set and seek attractive risk-adjusted returns.
Overview
*The Fund’s investment adviser, AGF Investments LLC (“Adviser”), has contractually agreed to waive the fees and reimburse expenses of the Fund so that the total annual operating expenses (excluding interest, taxes, brokerage commissions and other expenses that are capitalized in accordance with generally accepted accounting principles, dividend, interest and brokerage expenses for short positions, acquired fund fees and expenses, and extraordinary expenses) (“Operating Expenses”) of the Fund are limited to 0.45% of average net assets. In addition, the Adviser has contractually agreed to reduce its management fees to the extent of any acquired fund fees and expenses incurred by the Fund that are attributable to the management fee paid to the Adviser (or an affiliated person of the Adviser) by an underlying fund in which the Fund invests. These undertakings can only be changed with the approval of the Board. The Fund has agreed that it will repay the Adviser for fees and expenses waived or reimbursed for a period of 36 months following such waiver or reimbursement, provided that repayment does not cause the Operating Expenses to exceed the lower of 0.45% of the Fund’s average net assets and the expense cap in place at the time of the Adviser’s waiver or reimbursement. This agreement will remain in effect until November 1, 2024, and shall renew automatically for one-year terms unless the Adviser provides written notice of termination prior to the start of the next term or upon approval of the Board of Trustees of the Fund.
**Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividend expense from investments on short securities. These expenses are incurred by the Fund and none are paid to AGF Investments, LLC.
Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. For the most recent month end performance, please call collect 617-292-9801.
Before investing you should carefully consider each Fund's investment objectives, risks, charges and expenses. This and other information is in the Fund's prospectus. Please read the prospectus carefully before you invest. Click here for prospectus.
Risks: There is no guarantee that the Funds will achieve their objective. An investment in the Funds is subject to risk including the possible loss of principal amount invested. The risks associated with each Fund are detailed in the prospectus and include, but not limited to, tracking error risk, equity investing risk, infrastructure risk, foreign security risk, foreign currency risk, depository receipts risk, emerging markets risk, REIT risks, market risk, cash transaction risk, portfolio management risk, liquidity risk, liquidation risk, and specific risks related to exchange traded funds. The Fund’s investments in infrastructure-related securities will expose the Fund to potential adverse economic, regulatory, political, legal and other changes affecting such investments. Rising interest rates could lead to higher financing costs and reduced earnings for infrastructure companies. Investments in foreign securities involve risks that differ from investments in securities of U.S. issuers because of unique political, economic and market conditions. Investments in securities of issuers located in emerging market economies (including frontier market economies) are generally riskier than investments in securities of issuers from more developed economies. Investing in securities that trade in and receive revenues in foreign currencies creates risk because foreign currencies may decline relative to the U.S. dollar, resulting in a potential loss to the Fund.
Shares are not individually redeemable and can be redeemed only in Creation Units. The market price of shares can be at, below or above the NAV. Brokerage commissions will reduce returns. Market Price returns are determined based on the midpoint of the bid/ask spread calculated based on a price within the range of the highest bid and lowest offer on the principal U.S. market on which the Fund’s shares are traded during a regular trading session. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods shown. Absent these waivers, results would have been less favorable.
Distributor: Foreside Fund Services, LLC
This website should not be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Nothing on this website is intended to be investment, tax, financial or legal advice.
DEFINITIONS:
Prem/Disc
Premium and discount is calculated as the difference between the closing price and the previous day’s NAV. When a closing price is not available, then the midpoint of the NBBO bid-offer quote at the market closing time is used.
Prem/Disc %
Premium and discount expressed as a percentage of the NAV is calculated using the closing price, and when a closing price is not available, then the midpoint of the NBBO bid-offer quote at the market closing time is used.
Net Asset Value (NAV): net assets value is the total assets, less liabilities, divided by the number of shares outstanding.
Market Price returns are based upon the midpoint of the bid/ask spread at 4:00PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times.
Basis Point (BPS): Basis points, are a unit of measure used in finance to describe the percentage change in the value of a financial instrument or the rate change in an index or other benchmark. One basis point is equivalent to 0.01% or 0.0001 in decimal form.
Median Bid-Ask Spread
The median bid-ask spread is calculated by identifying national best bid and national best offer (“NBBO”) as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and posted on each business day.
Dow Jones Brookfield Global Infrastructure Index
The Dow Jones Brookfield Global Infrastructure Index is designed to measure the performance of pure-play infrastructure companies domiciled globally. The index covers all sectors of the infrastructure market. To be included in the index, a company must derive at least 70% of cash flows from infrastructure lines of business.
The S&P 500 Index is widely regarded as the best single gauge of large-cap U.S. equities. According to Annual Survey of Assets, an estimated USD 13.5 trillion is indexed or benchmarked to the index, with indexed assets comprising approximately USD 5.4 trillion of this total (as of Dec. 31, 2020). The index includes 500 leading companies and covers approximately 80% of available market capitalization.