CBLS

The fund is an actively managed ETF that seeks to achieve its investment objective by purchasing securities the Adviser, believes to have above-average financial characteristics, be undervalued and/or have growth potential, and by taking short positions in securities the Adviser believes will decline in price. Under normal circumstances, at least 80% of the fund’s net assets, plus borrowings for investment purposes, will be invested in equity securities, including common stocks and depositary receipts.