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ETFs: U.S. Market Neutral Momentum Fund (MOM)

MOM

U.S. Market Neutral Momentum Fund

The Fund seeks performance results that correspond to the price and yield performance, before fees and expenses of the Dow Jones U.S. Thematic Market Neutral Momentum Index. The target index, which is compiled by Dow Jones Indexes, is equal weighted, dollar neutral, sector neutral and is not levered. The index rebalances monthly by identifying the highest momentum stocks as long positions and lowest momentum stocks as short positions, of approximately equal dollar amounts, within each sector.

The Exchange Traded Fund provides investors with the means of seeking the spread return between high and low momentum price stocks within the Dow Jones U.S. Index. A stock's momentum is based on its total return, which is a function of price performance and dividend returns over the first twelve of the last thirteen months. Stocks with a higher total return receive a higher ranking and stocks with a lower total return receive a lower ranking.

Momentum investing entails investing in securities that have had above-average returns and shorting securities that have had below-average returns. The performance of the Fund will depend on the difference in the rate of return between its long positions and short positions.

Fund Details


Ticker MOM
CUSIP 351680103
NAV Calculation Time 4:00pm ET
INAV MOMIV
Index Ticker DJTMNMOT
Index Provider Dow Jones Indexes
Marginable YES
Short Selling YES
Exchange NYSE Arca
Inception Date 09/07/2011

Closing Price as of 10/23/2014 4:00 PM


Price $ 23.91
NAV $ 24.15
Prem/Disc ($ 0.24)
Prem/Disc % -0.99%

Quick Facts


As of Date 10/23/2014
Previous Close $ 23.91
52 Week High $ 26.30
52 Week Low $ 23.33
Shares Outstanding 50,001
Fund Net Assets $1,207,524

NAV Premium/Discount History


Date Days < -0.5% -0.5% to 0% 0% 0% to 0.5% > 0.5%

2011
80
17
26
0
26
11
250
27
152
0
50
21
03/31/2012
62
17
18
0
11
16
06/30/2012
63
0
51
0
12
0
09/30/2012
63
0
43
0
18
2
12/31/2012
62
10
40
0
9
3
252
240
11
0
0
1
03/31/2013
60
57
3
0
0
0
06/30/2013
64
61
3
0
0
0
09/30/2013
64
64
0
0
0
0
12/31/2013
64
58
5
0
0
1
61
2
58
0
1
0
03/31/2014
61
2
58
0
1
0

There is a risk that these securities may be more volatile than a broad cross-section of securities, and momentum may be an indicator that a security’s price is peaking. In addition, there may be periods when the momentum style is out of favor, and during which the investment performance of a fund using a momentum strategy may suffer. Short selling could cause unlimited losses, derivatives could result in losses beyond the amount invested, and the value of an investment in the Fund may fall sharply. Shares are not individually redeemable and can be redeemed only in Creation Units. The market price of shares can be at, below or above the NAV. Market Price returns are based upon the midpoint of the bid/ask spread at 4:00PM Eastern time (when NAV is normally determined), and do not represent the returns you would receive if you traded shares at other times. Fund returns assume that dividends and capital gains distributions have been reinvested in the Fund at NAV. Some performance results reflect expense subsidies and waivers in effect during certain periods. Absent these waivers, results would have been less favorable.

Expense Ratios

Gross Expense Ratio 5.40%
Net Expense Ratio*
1.49%
* FFCM has agreed (i) contractually to waive its management fees and reimburse expenses until October 31, 2014 to the extent necessary to prevent the Fund's net operating expenses (excluding interest, taxes, brokerage commissions and other expenses that are capitalized in accordance with generally accepted accounting principles, dividend, interest and brokerage expenses for short positions, acquired fund fees and expenses, and extraordinary expenses, if any) from exceeding 1.49%.



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