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Investors should consider the investment objectives, risks, charges and expenses carefully before investing.Ĭruise Line, Airline and Hotel Companies may be adversely affected by a downturn in economic conditions. The fund is distributed by Foreside Fund Services, LLC. Investments in securities or other instruments of foreign securities involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S.

In such event, the value of Shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries. The Fund’s investments will be concentrated in an industry or group of industries to the extent the Index is so concentrated. Please see the prospectus and summary prospectus for a complete description of principal risks. Low trading activity may result in shares trading at a material discount to NAV. There is no assurance that Fund shares will trade at any volume, or at all, on any stock exchange. There are a limited number of financial institutions authorized to buy and sell shares directly with the Fund, and there may be a limited number of other liquidity providers in the marketplace. The Fund is new with a limited operating history. The market price normally should approximate the Fund’s net asset value per share (NAV), but the market price sometimes may be higher or lower than the NAV. As with all ETFs, Fund shares may be bought and sold in the secondary market at market prices. Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate. There can be no assurance that the Fund will achieve its investment objective. Read the prospectus or summary prospectus carefully before investing.įund Risks: An investment in the Fund is subject to numerous risks including the possible loss of principal. For a prospectus or summary prospectus with this and other information about the Funds, click here. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.