DEFN

Emles Protective Allocation ETF
*Unless otherwise stated, data provided by FactSet.

DEFN Fund Description

DEFN tracks an index comprised of equities, fixed income securities and alternative assets with 35/55/10 allocation, respectively. Securities are fundamentally-selected and weighted in tier.

DEFN Factset Analytics Insight

DEFN allocates its investment across assets in seeking to preserve capital through market downturn. The fund’s initial universe is composed of securities that meet certain criteria such as minimum size and liquidity requirements for equities, and a minimum of 3-year maturity and BBB+ rating for debts. Securities are allocated 35/55 to equity and fixed income, respectively, while the remaining exposure is spread across put options, commodity futures and TIPs as part of the protective and defensive component of the index. Using a proprietary scoring methodology, debt and equity holdings are further refined to consider company’s balance sheet health, earnings cadence, debt paydown ability and other relevant fundamental factors. Selected securities are equally weighted within their respective asset class. The index is rebalanced quarterly, and a special rebalance during certain circumstances like merger of two or more constituents.

DEFN MSCI ESG Analytics Insight

Emles Protective Allocation ETF has an MSCI ESG Fund Rating of A based on a score of 6.61 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. Emles Protective Allocation ETF ranks in the 64th percentile within its peer group and in the 73th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

PERFORMANCE [as of 09/15/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DEFN -0.68% 0.96% -1.31% -- -- -- --
DEFN (NAV) 1.31% -2.76% -4.51% -- -- -- --
Emles Protective Allocation Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DEFN Summary Data

Emles
11/24/20
Open-Ended Fund
0.55%
$5.19M
0.24%

DEFN Portfolio Data

--
09/21/21

DEFN Index Data

Emles Protective Allocation Index
Tiered
Fundamental
N/A

DEFN Fund Structure

No
No
-- / --
N/A
N/A
High
N/A
N/A

DEFN Tax Exposures

20.00% / 39.60%
--
No

DEFN Factset Analytics Block Liquidity

As of 09/17/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of DEFN. DEFN is rated a N/A out of 5.

DEFN Tradability

2,188
$53.99K
18
0
0.24%
$0.06
0.16%
0.76% / -0.60%
None
100.00%
50,000
0.00
0.02%
--
0
$23.94
N/A

DEFN MSCI ESG Ratings

6.61 / 10
73.43
63.73
6.69%
3.60%
39.35