The Compound Kings ETF (KNGS) invests in compounders: companies generating cash and reinvesting at a higher rate of return than the overall market. Our goal is to outperform the S&P 500.

We focus primarily on companies in the US and China. We measure intrinsic value to determine portfolio positioning. And we aim to maximize tax efficiency by using the rebalancing features of an ETF.

For performance of the fund prior to its reorganization into an ETF, please see page 24 of our prospectus: available here.

TBD

Market Price

2020-12-29

TBD

1-Day Nav Change

$24.96

NAV

2020-12-29

0.60%

Expense Ratio

Powered By Upholdings

Our investment team performs intensive primary research to identify investments with the potential to be compounders for years to come.

Concentrated Portfolio

We aim to own no more than 30 securities at any time to concentrate our portfolio and differentiate from the S&P 500.

Modern Pricing

At 60 bps, our ETF offers competitive access to performance-based investment management in a more tax efficient vehicle.

How To Invest

The KNGS ETF trades through most online brokerages.

Visit Fidelity

Email your financial planner to find out if it’s a fit.

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There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves risk, including those described here. Non-Diversification Risk. Because the Fund is non-diversified, it may be more sensitive to economic, business, political or other changes affecting individual issuers or investments than a diversified fund. Management Risk. The Fund is actively-managed and may not meet its investment objectives based on the Adviser’s or Upholding’s success or failure in implementing the Fund’s investment strategy. Equity Investing Risk. An investment in the Fund involves risks similar to those of investing in any fund holding equity securities, such as market fluctuations, changes in interest rates and perceived trends in stock prices. Foreign Investment Risk: The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater in emerging markets. Cash and Cash Equivalents Risk. Holding cash or cash equivalents rather than securities or other instruments in which the Fund primarily invests may cause the Fund to experience potentially lower returns than the Fund’s benchmark or other funds that remain fully invested. Illiquid Securities Risk. The portfolio managers may not be able to sell illiquid securities at the price it would like or may have to sell them at a loss. Securities of non-U.S. issuers in particular, are subject to greater liquidity risk. ETF Risk. Shares of any ETF are bought and sold at market price and may trade at a discount or premium to NAV. Shares are not individually redeemed from the Fund, and brokerage commissions will reduce returns.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price. NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day. BPS represents basis points, so 60 BPS is equivalent to 0.60% of assets under management as a fee. Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice. KNGS is distributed by Quasar Distributors, LLC.