KNGS

The Compound Kings® ETF

The Compound Kings® ETF seeks growth of capital through high quality security selection and active risk management. The Upholdings research team identifies Compound Kings® through specific standards relating to their industry, competitive position, and reinvestment discipline.

43.73%

Cumulative Return

...

Price at Market

3.5 year

Track Record

Why KNGS?

1

Proven Results: Diversify passive allocations with a proven portfolio of compounders.

2

High Active Share: Access durable business models underfollowed by most major indexes.

3

Risk Management: Mitigate risk from cycles with holdings actively managed to intrinsic value.

Fund Information

  • Ticker KNGS
  • Management Fee 0.60%
  • Number of Holdings 27
  • Shares Outstanding Awaiting data...
  • AUM Awaiting data...
  • 30 Day Median Bid Ask Spread 0.10%
  • Inception Date* 2020-12-29
  • CUSIP Awaiting data...
  • Exchange Cboe
  • NAV Awaiting data...

Top 10 Holdings

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Holdings are subject to change without notice.

Investment Results Since March 2019

KNGS Cumulative Results Based on NAV through 10/31/22

43.73%

KNGS ETF

47.91%

S&P 500

3/1/19

3Q22

Year to Date 1 Year* 3 Years* Since Inception*
KNGS NAV -40.57% -39.35% 14.00% 9.75%
KNGS Mkt Price* -40.54% -39.32% n/a -22.27%
S&P 500 -23.87% -15.47% 8.16% 9.15%

*Average Annual Total Return through 9/30/22

Net expense ratio for the fund is 0.60%. This data represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance through the most recent month, email invest@upholdings.com or call 615-669-8699.

*Prior to the commencement of the Fund’s operations on 12/30/20, the Fund operated as the Predecessor Fund, a private fund with the same fee schedule with an inception date of 3/1/19. The Fund’s objectives, policies, guidelines, and restrictions are, in all material respects, equivalent to those of the Predecessor Fund, which was created for reasons unrelated to the establishment of a performance record. As part of the Predecessor Fund’s reorganization into the Fund, the Fund assumed the NAV and performance history of the Predecessor Fund. The Predecessor Fund was not registered under the Investment Company Act of 1940 (the “1940 Act”), and did not have a Market Price.

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Market Price returns began on 12/30/20, the first day the Fund had a Market Price. The Predecessor Fund was the sole account managed by Upholdings prior to the reorg. The S&P 500 Index is an unmanaged index of 500 stocks, representative of the U.S. stock market. It is not possible to invest directly in an index. Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index.

Premium Discounts History

-2% -1% 0% 1% 2%

2020-12-30

Date Range Placeholder

Number of days at

4Q21 1Q21 2Q22 3Q22
Premium 31 48 48 35
NAV 0 0 0 0
Discount 23 12 14 26

Line graph and table are provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) the Fund's daily net asset value (NAV). Shareholders may pay more than NAV when buying fund shares and receive less than NAV when selling fund shares, because shares are bought and sold at current market prices. The performance quoted represents past performance and does not guarantee future results.

Fee table

  • Management Fee 0.60%
  • Other Expenses 0.00%
  • Acquired Fund Fees and Expenses 0.37%
  • Gross Expense Ratio 0.97%
  • Less Fee Waivers -0.37%
  • Net Expense Ratio 0.60%

Distributions

Record Date Ex-Date Payable Date Total Distribution Income
Jun 15, 2021 Jun 14, 2021 Jun 21, 2021 $0.0608 $0.0608
Sep 14, 2021 Sep 13, 2021 Sep 20, 2021 $0.0000 $0.0000
Dec 31, 2021 Dec 30, 2021 Jan 5, 2022 $0.0000 $0.0000

See investor resources for a return of capital notice

*Tax Treatment. The Fund and the Shares have been designed to be tax-efficient. Specifically, their in-kind creation and redemption feature has been designed to protect Fund shareholders from adverse tax consequences applicable to registered investment companies as a result of cash transactions in the registered investment company's shares, including cash redemptions. Nevertheless, to the extent redemptions from the Fund are paid in cash, the Fund may realize capital gains or losses, including in some cases short-term capital gains, upon the sale of portfolio securities to generate the cash to satisfy the redemption. Any tax or legal information provided is merely a summary of our understanding and interpretation of some of the current income tax regulations and it is not exhaustive. Investors must consult their tax advisor or legal counsel for advice and information concerning their particular situation. Neither the Funds nor any of its representatives may give legal or tax advice.

IMPORTANT RISKS: There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves risk, including those described here. Non-Diversification Risk. Because the Fund is non-diversified, it may be more sensitive to economic, business, political or other changes affecting individual issuers or investments than a diversified fund. Management Risk. The Fund is actively-managed and may not meet its investment objectives based on the Adviser’s or Upholding’s success or failure in implementing the Fund’s investment strategy. Equity Investing Risk. An investment in the Fund involves risks similar to those of investing in any fund holding equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. Foreign Investment Risk: The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater in emerging markets.

Cash and Cash Equivalents Risk. Holding cash or cash equivalents rather than securities or other instruments in which the Fund primarily invests may cause the Fund to experience potentially lower returns than the Fund’s benchmark or other funds that remain fully invested. Illiquid Securities Risk. The portfolio managers may not be able to sell illiquid securities at the price it would like or may have to sell them at a loss. Securities of non-U.S. issuers in particular, are subject to greater liquidity risk. ETF Risk. Shares of any ETF are bought and sold at market price and may trade at a discount or premium to NAV. Shares are not individually redeemed from the Fund, and brokerage commissions will reduce returns.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price. NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day. BPS represents basis points, so 60 BPS is equivalent to 0.60% of assets under management as a fee. *As used in the article by Bloomberg, the 'NASDAQ 100' is a stock market index that includes 100 of the largest, most actively traded, non-financial companies that are listed on the Nasdaq Stock Market. Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice. KNGS is distributed by Quasar Distributors, LLC.

Fee disclosures: Acquired Fund Fees and Expenses (AFFE) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies. The Fund's investment adviser has contractually agreed to waive receipt of its management fees and/or assume expenses of the Fund to the extent necessary to offset AFFE so that the total annual operating expenses of the Fund (excluding payments under the Fund’s Rule 12b-1 distribution and service plan (if any), brokerage expenses, taxes (including tax-related services), interest (including borrowing costs), litigation expense (including class action-related services) and other non-routine or extraordinary expenses) do not exceed 0.60% of the Fund’s average daily net assets. This agreement is in effect until January 31, 2024, and it may be terminated before that date only by a majority vote of the “non-interested” trustees.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting www.kngsetf.com. Please read the prospectus carefully before you invest.