ETF
Features
The DriveWealth ICE 100 Index ETF seeks to provide investment results that, before fees and expenses, track the performance of the ICE DriveWealth 100 Index (the “Index”). The ICE DriveWealth 100 Index is a rules-based, equal-weighted index that tracks the performance of U.S.-listed Exchange Traded Funds (ETFs). The Index selects the 100 top ETFs based on a methodology that ranks eligible funds according to size, liquidity and risk-adjusted return.
Benchmark
The ICE DriveWealth 100 Index tracks the performance of all U.S.-listed Exchange Traded Funds (ETFs) across all issuers, sectors, asset classes and industry groups, and selects the 100 top ETFs based on a methodology that ranks eligible funds according to size, liquidity and risk-adjusted return. The Index undergoes a full reconstitution of constituent holdings quarterly.
The ICE DriveWealth 100 Index will have an equal weighting of all 100 constituents at the beginning of every quarter when the fund will be rebalanced and reconstituted. Index selection will include the new constituents based on the momentum-based methodology. Eligible ETFs will be ranked and assessed based on the criteria of fees, total return over the past quarter, and volatility over the previous quarter. To get a full understanding of the methodology view the prospectus.
Criteria to be an eligible constituent are as follows:
- Fund must be listed on a U.S. exchange
- Fund must have at least $100m in assets
- Must not be a levered product
- The fund cannot be an inverse fund
- No Exchange traded notes will be included
- No ETFs of ETFs
- Volume must exceed $3m on a daily average
See important risk information at the bottom of the page.
Purchase Information
Buying and Selling ETFs
An exchange-traded fund (ETF) is a pooled investment security that operates much like a mutual fund. Typically, ETFs will track a particular index, sector, commodity, or other asset, but unlike mutual funds ETFs can be bought or sold on a stock exchange the same way that a regular stock can.
Before investing carefully consider the Fund’s investment objective, risks, charges, and expenses. This information is contained in the prospectus available here. Read carefully before investing.
Distributor: Foreside Fund Services, LLC.
ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. NAV Returns are calculated using the daily 4:30pm net asset value (NAV). Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.
Important Risks
Investing involves risks including possible loss of principal. There is no guarantee the fund will achieve its investment objective. The Fund will primarily invest in other ETFs and will be subject to the underlying risks of those respective funds. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. To the extent the Fund does not fully replicate the Index, it is subject to the risk that the investment strategy of the Fund’s investment adviser may not produce the intended results.
The is no guarantee the Fund’s investment strategy will be successful. In managing the Fund’s portfolio, the investment adviser engages one or more sub-advisers to make investment decisions for a portion of or the entire portfolio. There is a risk that the investment adviser may be unable to identify and retain sub-advisers that achieve superior investment returns relative to other similar sub-advisers.