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ETFs: U.S. Market Neutral Size Fund (SIZ)

SIZ

U.S. Market Neutral Size 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 Size 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 lowest capitalization stocks as long positions and highest capitalization 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 ranked  stocks. Stocks are ranked from smallest to largest by market capitalization within the Dow Jones U.S. Index.

Size investing entails investing in securities within the universe that have below-average market capitalizations and shorting securities with above-average market capitalizations. The performance of the Fund will depend on the difference in the rates of return between these long positions and short positions.

Fund Details


Ticker SIZ
CUSIP 351680400
NAV Calculation Time 4:00pm ET
INAV SIZIV
Index Ticker DJTMNSST
Index Provider Dow Jones Indexes
Marginable YES
Short Selling YES
Exchange NYSE Arca
Inception Date 09/07/2011

Closing Price as of 09/02/2014 4:00 PM


Price $ 25.23
NAV $ 25.19
Prem/Disc $ 0.04
Prem/Disc % 0.16%

Quick Facts


As of Date 09/02/2014
Previous Close $ 25.07
52 Week High $ 26.24
52 Week Low $ 24.87
Shares Outstanding 50,001
Fund Net Assets $1,259,525

NAV Premium/Discount History


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

2011
80
16
21
0
30
13
250
1
202
0
44
3
03/31/2012
62
1
46
0
15
0
06/30/2012
63
0
46
0
17
0
09/30/2012
63
0
53
0
9
1
12/31/2012
62
0
57
0
3
2
252
49
142
1
59
1
03/31/2013
60
47
11
0
2
0
06/30/2013
64
1
46
1
16
0
09/30/2013
64
0
46
0
17
1
12/31/2013
64
1
39
0
24
0
61
0
50
0
11
0
03/31/2014
61
0
50
0
11
0

There may be periods when the size style is out of favor, and during which the investment performance of a fund using a size 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 5.26%
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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