HFND

Unlimited HFND Multi-Strategy Return Tracker ETF

Fund Overview

The fund seeks to create a portfolio with return characteristics similar to the hedge fund industry’s gross of fees returns, and believes the fund may outperform the hedge fund industry net of fees returns by charging comparatively lower expenses.

The fund does this by using a proprietary machine learning algorithm to create a portfolio which best matches the most recent month’s returns of each major hedge fund style (such as long/short equity, global macro, event-driven, fixed income arbitrage, emerging markets, managed futures, and multi-strategy). The fund then aggregates these portfolios based on the relative asset levels in each hedge fund style into a total hedge fund industry model. The fund’s investment portfolio generally consists of long and short positions in 30 to 50 Underlying ETFs and futures contracts.

The Fund does not do any of the following: invest in hedge funds, replicate the direct underlying holdings of hedge funds, or engage in certain types of investment activities that are permissible for hedge funds (e.g. excessive use of leverage, have a significant percentage of assets in illiquid investments).

Fund Documents

Fund Details

wdt_ID	Title	Information
1	Fund Inception	10/10/2022
2	Ticker	HFND
3	Primary Exchange	NYSE
4	CUSIP	886364439
6	NAV Symbol	HFND.NV
10	Expense Ratio*	1.03%
14	Management Fee	0.95%

Name	value	date
30-Day SEC Yield	4.26	05/31/2023

Name	value	date
30-Day SEC Yield	4.26	05/31/2023

*The Expense Ratio includes management fees and Acquired Fund Fees and Expenses. If Acquired Fund Fees and Expenses were excluded, the Expense Ratio would be 0.95%.

**The subsidized SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and includes the effect of any fee waivers. Without waivers, yields would be reduced. This is also referred to as the “standardized yield”, “30-Day Yield” and “Current Yield”.

Fund Data & Pricing

Name	value
Net Assets	$59.53m
NAV	$20.35
Shares Outstanding	2,925,000.00
Premium/discount Percentage	-0.08%
Closing Price	$20.33
Median 30 Day Spread	0.2%

Name
06/02/2023

*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Performance

Inception date: 10/10/2022

Month-End

Quarter-End

Month-End

Name
05/31/2023

Fund Name	Fund Ticker	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception (Cumulative)	Since Inception (Annualized)	Date
Unlimited HFND Multi-Strategy Return Tracker ETF	HFND NAV	-2.09	-2.81	-3.82	-1.75	–	–	–	0.29	–	05/31/2023
Unlimited HFND Multi-Strategy Return Tracker ETF	HFND MKT	-2.32	-3.27	-4.02	-2.08	–	–	–	0.21	–	05/31/2023
S&P 500 TR	SPTR2	0.43	5.75	3.33	9.65	–	–	–	17.01		05/31/2023

Quarter-End

Name
03/31/2023

Fund Name	Fund Ticker	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception (Cumulative)	Since Inception (Annualized)	Date
Unlimited HFND Multi-Strategy Return Tracker ETF	HFND NAV	-0.65	0.43	–	0.43	–	–	–	2.51	–	03/31/2023
Unlimited HFND Multi-Strategy Return Tracker ETF	HFND MKT	-1.21	0	–	0	–	–	–	2.34	–	03/31/2023

The performance data quoted above represents past performance. Past performance does not guarantee future results. The 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 their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 216-0499.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized.

A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

Distribution Detail

wdt_ID	Ex-Date	Record Date	Payable Date	Amount
1	12/22/2022	12/23/2022	12/27/2022	0.0875

Top 10 Holdings

Name
06/05/2023

Date	Account	StockTicker	Name	CUSIP	Shares	Price	Market Value	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag
06/05/2023	HFND	BKLN	INVESCO EXCH TRADED FD TR II SR LN ETF	46138G508	129,495	20.77	2,689,611.15	4.52%	59,526,382	2,925,000	117
06/05/2023	HFND	DBA	INVESCO DB MULTI-SECTOR COMMOD AGRICULTURE FD	46140H106	119,433	20.88	2,493,761.04	4.19%	59,526,382	2,925,000	117
06/05/2023	HFND	DBB	INVESCO DB MULTI-SECTOR COMMOD BASE METALS FD	46140H700	38,740	17.94	694,995.60	1.17%	59,526,382	2,925,000	117
06/05/2023	HFND	EMHY	ISHARES INC JP MRGN EM HI BD	464286285	39,072	34.22	1,337,043.84	2.25%	59,526,382	2,925,000	117
06/05/2023	HFND	EWA	ISHARES INC MSCI AUSTRALIA	464286103	117,892	22.71	2,677,327.32	4.50%	59,526,382	2,925,000	117
06/05/2023	HFND	EWJ	ISHARES INC MSCI JPN ETF NEW	46434G822	23,627	62.00	1,464,874.00	2.46%	59,526,382	2,925,000	117
06/05/2023	HFND	FXB	INVESCO CURRENCYSHARES BRIT PO BRIT POUN STRL	46138M109	10,593	119.64	1,267,330.63	2.13%	59,526,382	2,925,000	117
06/05/2023	HFND	FXC	INVESCO CURRENCYSHARES CDN DLR CDN DLR SHS	46138T104	17,518	72.83	1,275,835.94	2.14%	59,526,382	2,925,000	117
06/05/2023	HFND	FXE	INVESCO CURRENCYSHARES EURO TR EURO SHS	46138K103	-12,674	98.79	-1,252,064.46	-2.10%	59,526,382	2,925,000	117
06/05/2023	HFND	FXF	INVESCO CURRENCYSHARES SWISS F SWISS FRANC	46138R108	-12,790	97.98	-1,253,111.76	-2.11%	59,526,382	2,925,000	117
06/05/2023	HFND	FXY	INVESCO CURRENCYSHARES JAPANES JAPANESE YEN	46138W107	-18,612	66.48	-1,237,325.76	-2.08%	59,526,382	2,925,000	117
06/05/2023	HFND	IAU	ISHARES GOLD TR ISHARES NEW	464285204	27,444	36.94	1,013,781.36	1.70%	59,526,382	2,925,000	117
06/05/2023	HFND	ICVT	ISHARES TR CONV BD ETF	46435G102	44,087	73.52	3,241,276.24	5.45%	59,526,382	2,925,000	117
06/05/2023	HFND	JNK	SPDR SER TR BLOOMBERG HIGH Y	78468R622	42,780	91.38	3,909,236.40	6.57%	59,526,382	2,925,000	117
06/05/2023	HFND	MCHI	ISHARES TR MSCI CHINA ETF	46429B671	14,855	45.52	676,199.60	1.14%	59,526,382	2,925,000	117
06/05/2023	HFND	SJNK	SPDR SER TR BLOOMBERG SHT TE	78468R408	52,576	24.50	1,288,112.00	2.16%	59,526,382	2,925,000	117
06/05/2023	HFND	TIP	ISHARES BARCLAYS TIPS BOND FUND	464287176	-14,143	107.63	-1,522,211.09	-2.56%	59,526,382	2,925,000	117
06/05/2023	HFND	VCSH	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD	92206C409	52,521	75.72	3,976,890.12	6.68%	59,526,382	2,925,000	117
06/05/2023	HFND	VFMO	VANGUARD WELLINGTON FD US MOMENTUM	921935508	6,937	115.60	801,931.07	1.35%	59,526,382	2,925,000	117
06/05/2023	HFND	VGK	VANGUARD INTL EQUITY INDEX FDS FTSE EUROPE ETF	922042874	38,804	61.65	2,392,266.60	4.02%	59,526,382	2,925,000	117
06/05/2023	HFND	VGLT	VANGUARD SCOTTSDALE FDS LONG TERM TREAS	92206C847	-13,314	63.15	-840,779.10	-1.41%	59,526,382	2,925,000	117
06/05/2023	HFND	VMBS	VANGUARD SCOTTSDALE FDS MTG-BKD SECS ETF	92206C771	131,606	45.89	6,039,399.34	10.15%	59,526,382	2,925,000	117
06/05/2023	HFND	VO	VANGUARD INDEX FDS MID CAP ETF	922908629	11,631	210.03	2,442,858.93	4.10%	59,526,382	2,925,000	117
06/05/2023	HFND	VT	VANGUARD INTL EQUITY INDEX FDS TT WRLD ST ETF	922042742	79,807	94.88	7,572,088.16	12.72%	59,526,382	2,925,000	117
06/05/2023	HFND	VTV	VANGUARD INDEX FDS VALUE ETF	922908744	8,040	138.33	1,112,173.20	1.87%	59,526,382	2,925,000	117
06/05/2023	HFND	VTWO	VANGUARD SCOTTSDALE FDS VNG RUS2000IDX	92206C664	20,121	73.50	1,478,893.50	2.48%	59,526,382	2,925,000	117
06/05/2023	HFND	VWO	VANGUARD INTL EQUITY INDEX FDS FTSE EMR MKT ETF	922042858	123,926	40.35	5,000,414.10	8.40%	59,526,382	2,925,000	117
06/05/2023	HFND	XLB	SELECT SECTOR SPDR TR SBI MATERIALS	81369Y100	9,336	78.57	733,529.52	1.23%	59,526,382	2,925,000	117
06/05/2023	HFND	XLK	SELECT SECTOR SPDR TR TECHNOLOGY	81369Y803	-7,033	166.90	-1,173,807.70	-1.97%	59,526,382	2,925,000	117
06/05/2023	HFND	XLRE	SELECT SECTOR SPDR TR RL EST SEL SEC	81369Y860	53,816	36.81	1,980,966.96	3.33%	59,526,382	2,925,000	117
06/05/2023	HFND	XLV	SELECT SECTOR SPDR TR SBI HEALTHCARE	81369Y209	-8,215	130.32	-1,070,578.80	-1.80%	59,526,382	2,925,000	117
06/05/2023	HFND	XRT	SPDR SER TR S&P RETAIL ETF	78464A714	26,418	59.48	1,571,342.64	2.64%	59,526,382	2,925,000	117
06/05/2023	HFND	Cash&Other	Cash & Other	Cash&Other	8,743,326	1.00	8,743,326.19	14.69%	59,526,382	2,925,000	117	Y

Holdings are subject to change without notice.

Purchase

The Fund (HFND) is available through various channels including via phone (833) 216-0499, broker-dealers, investment advisers, and other financial services firms, including: