Disclosures & Fund Summary

A standard yield calculation developed by the Securities and Exchange Commission that allows for a common ground comparison of yield performance. It is based on the most recent 30-day period. It is calculated by the net investment income (less expenses) per share over a 30-day period divided by the current maximum offering price.

The total return of an investment over a specific period, independent of any benchmark.

One one-hundredth (1/100th) of one percentage point; 100 bps = 1%.

A measure of how much an investment tends to move relative to the overall market; a beta above 1.0 means more volatile than the market.

A proprietary measure that tracks the market's tendency to revisit and react to historically significant price levels and events.

Companies supplying scarce components that limit how fast an entire industry can grow.

The rate at which an investment grows annually over a specified period, assuming profits are reinvested.

Assets a borrower must pledge to back a loan or a leveraged investment position.

Consumer price inflation excluding food and energy, the most volatile categories.

A measure of inflation that tracks changes in the prices of consumer goods and services.

A broad decline in prices, the opposite of inflation.

The process of paying down or unwinding borrowed money used to invest.

A set of technical signals used to flag when a price trend may be running out of steam.

The annual rate an investor would receive if the most recent fund distribution remained the same going forward. The Distribution Rate represents a single distribution from the Fund and is not a representation of the Fund's total return. The Distribution Rate is calculated by multiplying the most recent distribution by 12 in order to annualize it, and then dividing by the Fund's NAV.

Describes a central bank leaning toward lower interest rates to support growth.

A common type of computer memory chip, and shorthand for the memory chip market.

A financial metric that shows how much profit a company generates for each share of its stock, calculated as net income divided by the number of outstanding shares.

A market environment where borrowing costs are falling and credit is more accessible, typically supportive of equity valuations.

The branch of the Federal Reserve responsible for setting U.S. monetary policy, primarily by adjusting interest rates to influence inflation and economic growth. The committee meets 8 times a year to review and adjust the monetary policy for the US.

Analysts' projected earnings for the year ahead, used to value a stock today.

Fundstrat Capital's proprietary stock selection framework identifying equities with multiple simultaneous structural tailwinds.

The total monetary value of goods and services produced in a country over a period; a key measure of economic growth.

Describes a central bank leaning toward higher interest rates to fight inflation.

The largest cloud computing and technology companies operating at massive global scale (e.g., Microsoft, Amazon, Alphabet, Meta).

South Korea's main stock market index.

Companies with a large total market value, typically over $10 billion; generally considered more established and stable.

A fund that uses borrowing or derivatives to amplify the daily moves of an index.

The seven largest U.S. tech stocks by market value: Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta, and Tesla.

Money investors borrow from their brokers to buy securities.

The Merrill Lynch Option Volatility Estimate, which measures the market's expectation of near-term volatility in U.S. Treasury yields, derived from options on Treasury futures.

A stock index that tracks U.S. companies with high price momentum, based on their recent performance trends.

A major U.S. stock exchange known for its high concentration of technology and growth companies.

A valuation ratio that shows how much investors are willing to pay per dollar of a company's earnings. A lower number means an investor is paying less for each dollar of profit.

A measure of inflation that tracks changes in prices received by producers for their goods and services.

An economic indicator reflecting business activity; a reading above 50 signals expansion, below 50 signals contraction.

Measures an investment's return compared to a benchmark or another asset over a specific period.

A portion of a distribution that represents a return of an investor's original investment, not income or profits. It reduces the investor's cost basis and is generally not taxable when received, though it can affect taxes when the investment is sold.

Tracks the performance of 2,000 small-cap U.S. companies, serving as a benchmark for the U.S. small-cap equity market.

Measures the performance of the 2,500 smallest companies in the Russell 3000 Index, representing U.S. small- and mid-cap stocks. GRNJ's benchmark index.

An index of 500 large U.S. companies, widely used to gauge the overall market. GRNY and GRNI's benchmark index.

The housing-cost portion of CPI, including rent and owners' equivalent rent.

Small- and mid-capitalization companies, smaller than the largest corporations.

The Chicago Board Options Exchange Volatility Index, which measures the market's expectation of 30-day volatility of the S&P 500 Index, derived from option prices.

Performance measured from January 1 through the most recent date shown.