Strategy. The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in a portfolio of ETFs that primarily invest in (1) equity securities of U.S. large capitalization companies (Equity ETFs) and/or (2) short-term debt securities, money market mutual funds, and other cash equivalents (Debt ETFs). The Fund operates in a manner that is commonly referred to as a fund of funds, meaning that it primarily invests in other ETFs. Under normal circumstances, through its investment in ETFs, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of U.S.-listed large capitalization companies. Utilizing an investment strategy enhanced by the use of the Qraft … Show more… The Fund is an actively-managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in a portfolio of ETFs that primarily invest in (1) equity securities of U.S. large capitalization companies (Equity ETFs) and/or (2) short-term debt securities, money market mutual funds, and other cash equivalents (Debt ETFs). The Fund operates in a manner that is commonly referred to as a fund of funds, meaning that it primarily invests in other ETFs. Under normal circumstances, through its investment in ETFs, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in securities of U.S.-listed large capitalization companies. Utilizing an investment strategy enhanced by the use of the Qraft AI Risk Indicator System (QRAFT Risk Indicator), a proprietary artificial intelligence model that provides risk signals on U.S. equity markets, Exchange Traded Concepts, LLC (the Adviser), the Funds adviser, shifts the Funds exposure weekly between Equity ETFs and Debt ETFs in an attempt to navigate market downturns and capitalize on market rebounds. QRAFT Technologies, Inc. (Qraft), a South Korea-based provider of artificial intelligence investment systems, developed the QRAFT Risk Indicator and has licensed it to the Adviser for purposes of managing the Fund. The Adviser consults a scoring methodology generated by the QRAFT Risk Indicator to employ a dynamic beta strategy that evaluates data to predict market risk for the coming week. After analyzing more than 70 data inputs, which are primarily derived from momentum, volatility, and correlation between major asset classes of the U.S. equity market, the QRAFT Risk Indicator provides a score from 0 through 100 to indicate the recommended percentage of Equity ETFs and Debt ETFs ( i.e., a score of 0 equates to a 0% allocation to Debt ETFs and a score of 100 equates to a 100% allocation to Debt ETFs). The Adviser adjusts the Funds portfolio on a weekly basis based on the scores generated by the QRAFT Risk Indicator. Equity ETFs in which the Fund invests track broad-based large capitalization securities market indices. Beta is a measure of volatility, or sensitivity, of a particular asset to the movement of the overall market. During periods when the Fund is fully invested in Equity ETFs, it expects to have a beta of 1 relative to broad-based large capitalization securities market indices, meaning that the Fund expects to produce returns generally corresponding to the large capitalization securities market. The Adviser believes that by applying the signals from the QRAFT Risk Indicator to reduce the Funds exposure to Equity ETFs and increase the Funds exposure to Debt ETFs, the Fund can produce greater returns relative to the large capitalization securities market over a complete market cycle. While it is anticipated that the Adviser will purchase and sell securities based on recommendations generated by the QRAFT Risk Indicator, the Adviser has full discretion over investment decisions for the Fund. Therefore, the Adviser has full decision-making power not only if it identifies a potential technical issue or error with the QRAFT Risk Indicator, but also if it believes that the recommended securities would not further the Funds investment objective. There is no limit placed on the amount of the Funds assets that may be invested in Equity ETFs or Debt ETFs ( i.e., the Fund may invest 0% to 100% of its assets in Equity ETFs or Debt ETFs). Due to the weekly adjustment of the Funds portfolio based on scores from the QRAFT Risk Indicator, the Adviser expects that the Fund will frequently purchase and sell shares of securities. Show less