MRSK – Managed Risk ETF

Many investors need above inflation growth, but are unable to endure extreme drawdowns. Agility Shares™ Managed Risk ETF strives to provide index-like returns, with put options in place to attempt to limit losses. Managed Risk may help investors lower drawdown and lessen risk during bear markets.

FUND FACTS

ETF Data
Ticker MRSK
CUSIP 66538J720
Inception Date June 25, 2020
NAV N/A
Market Price N/A
Premium/Discount N/A
Net Expense Ratio 0.96%
Gross Expense Ratio 1.26%
Net Assets N/A
Shares Outstanding N/A
30 Day Median Bid/Ask Spread N/A
Premium Discount Flag N/A
Premium Discount Days Above Tolerance N/A
Volume N/A
Exchange CBOE
Distribution Schedule Annual

ALWAYS HEDGED EQUITIES

  • Designed to participate in bull markets while maintaining a managed amount of risk.
  • Always long equities and hedged against downturns.
  • No stock picking.
  • Overall the fund is designed to seek equity-like returns in a bull market and attempt to limit losses in a market downturn.

OUR PROCESS

1. SEEKS FULL MARKET EXPOSURE
The foundation of the portfolio is an allocation to equities in the form of equity index futures.

2. HEDGE
Define maximum loss of domestic equity exposure through the implementation of an options strategy. We purchase at-or-near-the-money two-year equity index put options, rolled annually (see figure below).

3. PREMIUM
The fund attempts to mitigate the cost of hedging strategy by writing out-of-the money equity index calls and put options spreads.

4. TACTICAL AGGREGATE BOND STRATEGY UNDERLAY
Potentially generates additional returns with an allocation to aggregate bonds that are tactically managed which may help to manage interest rate risk.

For illustrative purposes only. Options may not be suitable for all investors. There is no guarantee that any options strategy will achieve its objectives, generate positive returns, or avoid losses.

Important Risk Information:

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by visiting agilityshares.com.

Market Price returns are based upon the midpoint of the bid/ask spread at 4:00 p.m. ET when NAV is normally determined for most Toews Funds, and do not represent the returns you would receive if you traded shares at other times.

The statistics presented are defined as follows. Annualized Return is the geometric mean of the returns with respect to one year. Cumulative Return is the return on the investment in total. The index shown is The Standard & Poor’s 500 index and is a stock market index that measures the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices, and is a benchmark index of large-cap stocks in the United States. The S&P 500 index price represents the total return that includes both changes in price and the effect of dividends.

The Fund is a new Exchange Traded Fund and has a limited history of operations for investors to evaluate. The Fund’s use of futures contracts involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These risks include leverage risk and correlation or tracking risk. Because futures require only a small initial investment in the form of a deposit or margin, they involve a high degree of leverage. The fund may have options risk. Options are subject to changes in the underlying securities or index of securities on which such instruments are based. The fund may invest in ETF’s. ETF’s are subject to investment advisory fees and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in ETF’s and may be higher than other mutual funds that invest directly in securities. There is equity risk, as the price of equity securities may rise or fall because of changes in the broad market or changes in a company’s financial condition, sometimes rapidly or unpredictably.

ETF’s involve risk including possible loss of principal. An investor should consider the ETF’s investment objectives, risks, charges, and expenses carefully before investing. This and other information about the ETF is contained in the prospectus, which can be obtained by calling 877-558-6397. Please read the prospectus carefully before investing. The Toews Funds Agility Shares Managed Risk ETF is distributed by Northern Lights Distributors LLC, member FINRA/SIPC. Toews Corporation is not affiliated with Northern Lights, LLC. 2110-NLD-3/5/2020

(*) The median bid-ask spread is calculated by identifying the national best bid and national best offer (“NBBO”) for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

Top Holdings // as of 2020-11-27

NameSymbolWeight (%)Market Price ($)Shares HeldMarket Value ($)
iShares Core U.S. Aggregate Bond ETFAGG39.91118.26215002,542,590.00
Vanguard Total Bond Market ETFBND39.5488.37285002,518,545.00
US DOLLAR FUTUREUSDF15.261.00972045972,045.68
CME E-Mini Standard & Poor's 500 Index FutureESZ0 INDEX7.053636.50356,363,875.00
S&P 500 Index SPX US 12/17/21 P3350X5Z21P 3350 US INDEX6.66223.1519423,985.00
US DOLLARSUSD1.771.00112723112,723.56
S&P Emini 3rd Wk Jan21P 3EF1P 2800 Index3EF1P 2800 INDEX0.074.95174,207.50
Micro E-mini S&P 500 futuresHWAZ0 INDEX0.033636.509163,642.50
US DOLLAR BROKERUSDB0.001.00-1-0.38
S&P Emini 3rd Wk Jan21C 3EF1C 3740 Index3EF1C 3740 INDEX-0.5843.30-17-36,805.00