Investment objective & strategy
As of Oct. 24, 2025 · prospectusObjective. Investment Objectives: The Fund has two objectives, to provide total return and to limit exposure to downside risk.
Strategy. Principal Investment Strategies: The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by tactically allocating the Funds assets between unaffiliated international equity ETFs (Underlying ETFs) and cash equivalents. The universe of Underlying ETFs is unconstrained and includes, but is not limited to, those based on market capitalization, investment styles, factors, regions and countries. Underlying ETFs may invest in international developed market equities and emerging market equities of any market capitalization. The Underlying ETFs that the Fund invests in may be passively managed or actively managed. The Fund may invest without constraint in emerging market equity ETFs. The Fund considers Underlying ETFs which principally invest in emerging market equity issues to be emerging market … Principal Investment Strategies: The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by tactically allocating the Funds assets between unaffiliated international equity ETFs (Underlying ETFs) and cash equivalents. The universe of Underlying ETFs is unconstrained and includes, but is not limited to, those based on market capitalization, investment styles, factors, regions and countries. Underlying ETFs may invest in international developed market equities and emerging market equities of any market capitalization. The Underlying ETFs that the Fund invests in may be passively managed or actively managed. The Fund may invest without constraint in emerging market equity ETFs. The Fund considers Underlying ETFs which principally invest in emerging market equity issues to be emerging market equity ETFs. The Fund considers emerging market equity issuers to be those located in countries represented in the Morningstar Emerging Markets Index. The Fund uses a fund of funds approach and may engage in frequent trading. Under normal market conditions, the Fund expects to invest substantially all of its assets in Underlying ETFs. At times, the Fund may be fully or partially invested in cash equivalents. The Fund may also engage in securities lending of its portfolio securities. The Funds investment adviser, Ocean Park Asset Management, LLC (the Adviser), employs a proprietary trend following strategy to generate buy and sell signals for Underlying ETFs. The Adviser calculates upper and lower bands for each Underlying ETF. The upper and lower bands are offset above and below a short-term exponential moving average. A Buy signal, which identifies a potential uptrend for an Underlying ETF candidate, is determined by a securitys price rising above both the recent low of its upper band and a secondary moving average. The Adviser uses quantitative analysis to determine which Underlying ETFs to purchase. The Fund has no limits or constraints on the number or type of Underlying ETFs in which it can invest. An Underlying ETF is sold when a securitys price falls below the recent high of its lower band (a Sell signal), the goal being to limit drawdowns of the overall Fund. When a position is sold, the proceeds may be invested in an alternative Underlying ETF or temporarily invested in cash equivalents. Cash equivalents may include, but are not limited to, U.S. Treasury bills, money market funds and ETFs that primarily invest in investment grade short-term bonds. The Adviser periodically reviews the allocation of the Underlying ETFs and may make adjustments to the Underlying ETF holdings, including adding or removing Underlying ETFs.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| BBH SWEEP VEHICLE | — | $2.85M | 88.73% |
| ISHARES MSCI BRAZIL ETF MUTUAL FUND | EWZ | $91.18K | 2.84% |
| ISHARES MSCI JPN | EWJ | $88.66K | 2.76% |
| ISHARES MSCI TAIWAN ETF MUTUAL FUND | EWT | $81.84K | 2.55% |
| ISHARES MSCI MEXICO ETF MUTUAL FUND | EWW | $81.62K | 2.54% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| HCM Defender 500 Index ETF · LGH | 60% | 1.00% |
| HCM Defender 100 Index ETF · QQH | 59% | 0.98% |
| Ocean Park Diversified Income ETF | 45% | 1.03% |
Advisers
| Firm | Role |
|---|---|
| Exchange Traded Concepts, LLC | Sub-adviser |
| Ocean Park Asset Management, LLC | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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