This ETF is different from traditional ETFs.
Traditional ETFs tell the public what assets they hold
each day. This ETF will not. This may create
additional risks for your investment.
Specifically:
You may have to pay more money to trade the ETF’s
shares. This ETF will provide less information to
traders, who tend to charge more for trades when they
have less information.
The price you pay to buy ETF shares on an exchange may
not match the value of the ETF’s portfolio. The same is
true when you sell shares. These price differences may
be greater for this ETF compared to other ETFs because
it provides less information to traders.
These additional risks may be even greater in bad or
uncertain market conditions.
The differences between this ETF and other ETFs may also
have advantages. By keeping certain information about
the ETF confidential, this ETF may face less risk that
other traders can predict or copy its investment
strategy. This may improve the ETF’s performance. If
other traders are able to copy or predict the ETF’s
investment strategy, however, this may hurt the ETF’s
performance. For additional information regarding the
unique attributes and risks of this ETF, please refer to
the prospectus.
