Fund Summary

01

SOI 2-28-23
Semi-Annual Report 5-31-23

02

Fact Sheet
Investment Case
White Paper

03

Prospectus
Summary Prospectus
Statement of Additional Information

04 Data as of 12/04/2023

Primary Exchange NYSE
Ticker DIP
Cusip 26922B634
Net Assets 3,528,112
Median 30-Day Bid/Ask Spread 0.08%
# of Holdings 30
Fund Inception Date 12/12/2022
Shares Outstanding 140,000
Management Fees* 0.75%
Distribution and/or Service (12-b1) Fees 0.00%
Other Expenses** 0.00%
Acquired Fund Fees and Expenses*** 0.04%
Total Annual Fund Operating Expenses 0.79%
NET ASSET VALUE (NAV)
NAV 25.20
Daily Change ($) -0.05
Daily Change (%) -0.20%
MARKET PRICE
Closing Price 25.2019
Daily Change ($) -0.0455
Daily Change (%) -0.18%

PREMIUM DISCOUNT

NAVMARKET PRICEPREMIUM/DISCOUNT
25.2025.20190.0019

* Restated to reflect the Fund’s contractual management fee effective December 1, 2023.

** Estimated for the current fiscal year.

*** Acquired Fund Fees and Expenses (“AFFE”) are the indirect costs of investing in other investment companies. AFFE is estimated for the current fiscal year. Total Annual Fund Operating Expenses will not correlate to the expense ratios in the Fund’s Financial Highlights because the Financial Highlights will include only the direct operating expenses incurred by the Fund and exclude AFFE.

05 PERFORMANCE

MONTH END AS OF: 11/30/2023

1 Month3 MonthYTDSince inception1 Year3 Years5 Years
Fund NAV 8.67% -4.18% 3.44% 0.24% TBD TBD TBD
Market Price 8.61% -4.33% 3.42% 0.19% TBD TBD TBD

QUARTER END AS OF: 09/30/2023

Quarter endYTDSince inception1 Year3 Years5 Years
Fund NAV -1.87% 1.48% -1.67% TBD TBD TBD
Market Price -1.97% 1.47% -1.7% TBD TBD TBD

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of less than one year are not annualized. For the most recent month-end performance, call (800) 617-0004 or visit the fund's website at www.dipetf.com. Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Total Returns are calculated using the daily 4:00pm net asset value (NAV). Market price returns reflect the closing price on the primary exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

06 DIP Holdings as of 12/04/2023

COMPANY NAMETICKERFIGISHARESMARKET VALUE% OF NET ASSET VALUES
CINTAS CORPCTASBBG000H3YXF8286158,744.304.50%
MARVELL TECHNOLOGY INCMRVLBBG00ZXBJ1533034157,798.344.47%
MARSH & MCLENNAN COSMMCBBG000BP4MH0787155,314.454.40%
ANSYS INCANSSBBG000GXZ4W7528151,821.124.30%
CARMAX INCKMXBBG000BLMZK61705116,417.403.30%
COTERRA ENERGY INCCTRABBG000C3GN474386113,114.943.21%
INTEL CORPINTCBBG000C0G1D12674113,243.903.21%
PHILIP MORRIS INTERNATIONALPMBBG000J2XL741219113,281.673.21%
SYNOPSYS INCSNPSBBG000BSFRF3213113,145.603.21%
CADENCE DESIGN SYSTEMS INCCDNSBBG000C13CD9429113,032.923.20%

07 DISTRIBUTIONS

MonthEx DateRecord DatePay DateDividend
November 11/28/2023 11/29/2023 11/30/2023 0.00792957
October 10/27/2023 10/30/2023 10/31/2023 0.01862314
September 09/27/2023 09/28/2023 09/29/2023 0
August 08/29/2023 08/30/2023 08/31/2023 0
July 07/27/2023 07/28/2023 10/01/2023 0
June 06/28/2023 06/29/2023 06/30/2023 0.01629875
May 05/26/2023 05/30/2023 05/31/2023 0
April 04/26/2023 04/27/2023 07/01/2023 0
March 03/29/2023 03/30/2023 04/01/2023 0
February 02/24/2023 02/27/2023 03/01/2023 0
January 01/27/2023 01/30/2023 02/01/2023 0
December 12/28/2022 12/29/2022 12/30/2022 0.07125715

08 PREMIUM DISCOUNT TABLE

Calendar Year 2022First Quarter 2023Second Quarter 2023Third Quarter 2023
Days Traded at NAV 0010
Days Traded at Premium 5163638
Days Traded at Discount 8462525

09 PREMIUM AND DISCOUNT GRAPH

Head Office: 157 Broad Street, Suite 320 Red Bank, NJ 07701 United States of America

Cayman Islands Office: Apollo House East, 4th Floor, Suite 698 87 Mary Street, George Town Grand Cayman, KY1-1107

Important disclosures

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (800) 617-0004 or visit our website at dipetf.com. Read the prospectus or summary prospectus carefully before investing.

The Fund is distributed by Quasar Distributors, LLC. Exchange Traded Concepts, LLC (the “Adviser”) serves as the Fund’s investment adviser. Kaiju ETF Advisors, LLC (the “Sub-Adviser”) serves as the Fund’s investment sub-adviser.

Investing involves risk, including loss of principal. The Fund is subject to numerous risks including but not limited to: Equity Risk, Large Cap Risk, Management Risk, and Trading Risk. The Fund is actively managed and may not meet its investment objective based on the Sub-Adviser’s success or failure to implement investment strategies for the Fund. The Fund’s principal investment strategies are dependent on the Sub-Adviser’s understanding of artificial intelligence. The Fund relies heavily on a proprietary artificial intelligence selection model as well as data and information supplied by third parties that are utilized by such a model. Specifically, the Fund relies on the Kaiju Algorithm to implement its principal investment strategies. To the extent the model does not perform as designed or as intended, the Fund’s strategy may not be successfully implemented and the Fund may lose value. A “value” style of investing could produce poor performance results relative to other funds, even in a rising market, if the methodology used by the Fund to determine a company’s “value” or prospects for exceeding earnings expectations or market conditions is wrong. In addition, “value stocks” can continue to be undervalued by the market for long periods of time. The Fund is expected to actively and frequently trade securities or other instruments in its portfolio to carry out its investment strategies. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses. Frequent trading may also cause adverse tax consequences for investors in the Fund due to an increase in short-term capital gains. The fund is new, with a limited operating history.

©2023 Kaiju ETF Advisors