IDY

PACIFIC GLOBAL

INTERNATIONAL EQUITY INCOME ETF

PROSPECTUS
TICKER: IDY
OVERVIEW
Fund Information

The Pacific Global International Equity Income ETF seeks to provide income and long-term capital growth by investing in equities primarily located in developed countries. The factor-based investment approach for IDY uses a systematic factor methodology to target international large-cap stocks that we expect will deliver attractive dividend yields, capital appreciation and diversification.

Benchmark
MSCI EAFE Value
CUSIP
69434K304
Exchange
NYSE Arca
Inception Date
10/24/19
Total Expense Ratio
0.39%
Advisor
Pacific Global Advisors LLC
Management Style
Active
Asset Class
Equity
Sub-Advisor
Cadence Capital Management
TICKER: IDY
PERFORMANCE
Price and Yield (as of 02/05/2020)
NAV
$25.70
Market Closing Price
$26.04
30 Day SEC Yield (as of 7/31/2020
5.03%
Premium/Discount
1.31%
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Month-End Returns (as of 01/31/2020)
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Fund
Cumulative Returns (%)
YTD
1 Month
3 Month
6 Month
Annualized Returns (%)
1 Year
3 Year
5 Year
Inception 10/24/2019
IDY NAV
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IDY MKT
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Quarter-End Returns (as of 12/31/2019)
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YTD
Cumulative Returns (%)
YTD
1 Month
3 Month
6 Month
Annualized Returns (%)
1 Year
3 Year
5 Year
Inception 10/24/2019
IDY NAV
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IDY MKT
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Disclaimer
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. Returns less than one year are not annualized.

Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their net asset value (NAV), and are not individually redeemed from the Fund.

You may incur brokerage commissions when buying and selling shares on an exchange or through your financial intermediary, which may reduce returns. Market returns are based upon the closing price or the midpoint of the bid/ask spread, as applicable, at the time when the Fund’s NAV is determined (normally 4:00 p.m. Eastern time), and do not represent the returns you would receive if you traded shares at other times. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress.

30 Day SEC Yield is an annualization of the Fund’s total net investment income per share for the 30-day period.

TICKER: IDY
HOLDINGS
TOP 10 HOLDINGS (AS OF 02/06/2020)
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Security Name
Shares
Weightings
ROCHE HLDGS AG
2,014
2.61%
NOVARTIS AG
6,085
2.17%
GLAXOSMITHKLINE
21,552
1.80%
BRIT AMER TOBACCO
10,821
1.80%
SANOFI
4,828
1.77%
BP
66,408
1.55%
TOTAL EUR2.5
8,177
1.51%
TOYOTA MOTOR CORP
5,712
1.49%
NOVO NORDISK A/S
6,198
1.47%
BHP GROUP LTD
14,407
1.40%
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TICKER: IDY
DOCUMENTS
IDY Summary Prospectus
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PDF
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PDF
IDY Statement of Additional Information
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PDF
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PDF
IDY Annual Report
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PDF
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PDF
IDY Semi Annual Report
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PDF
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PDF

ETF shares are not individually redeemable from the Fund. Shares may only be redeemed directly from the Fund by Authorized Participants in creation units only.

The Fund is subject to non-US/foreign securities risk since changes in foreign economies and political climates are more likely to affect the Fund than a mutual fund that invests exclusively in U.S. companies.  The Fund’s investments in, and receipt of revenues, denominated in foreign currencies involves currency risk, since it will be subject to the risk that those currencies will decline in value relative to the U.S. dollar.  While the Fund may hold securities of companies that have historically paid a high dividend yield, it is subject to dividend-paying stock risk, as those companies may reduce or discontinue their dividends, reducing the yield of the Fund.  The net asset value of the Fund will fluctuate based on changes in the value of equity securities held by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic, political or market conditions.  Fund performance may be affected by issuer risk, which results when changes in the financial condition or credit rating of an issuer of those securities may cause the value of the securities to decline.  The Fund is subject to large capitalization company risk, since more established companies may be unable to attain the high growth rates of successful, smaller companies during periods of economic expansion.  Likewise, the Fund also is subject to medium capitalization company risk since stocks of these companies may be subject to more abrupt or erratic market movements than those of larger, more established companies. Sector risk is the possibility that securities within the same group of industries will decline in price due to sector-specific market or economic developments. If the Fund invests more heavily in a particular sector, the value of its shares may be especially sensitive to factors and economic risks that specifically affect that sector.

The Fund has a limited number of institutions that act as Authorized Participants and is subject to risk to the extent that these institutions exit the business or are unable to proceed with creation and/or redemption orders with respect to the Fund and no other Authorized Participant is able to step forward to create or redeem Creation Units. The Fund faces numerous market trading risks, including disruptions to the creation and redemption processes of the Fund, losses from trading in secondary markets, the existence of extreme market volatility or potential lack of an active trading market for Shares may result in Shares trading at a significant premium or discount to NAV. If a shareholder purchases Shares at a time when the market price is at a premium to the NAV or sells Shares at a time when the market price is at a discount to the NAV, the shareholder may sustain losses.

The Fund is subject to limited history of operations risk since it is a new ETF and has a limited history of operations for investors to evaluate.  The Fund is actively managed; thus, investment decisions are made based on investment views and there is no guarantee that the investment views will produce the desired results or expected returns.

Benchmark definition

The MSCI EAFE Value Index captures large and mid-cap securities exhibiting overall value style characteristics across Developed Markets countries* around the world, excluding the US and Canada. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please visit the Fund webpages. Read the prospectus or summary prospectus carefully before investing.

This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any investor or prospective investor. The information is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. Investors seeking information regarding their particular investment needs should contact a financial professional.

Pacific Global Asset Management LLC is a wholly-owned subsidiary of Pacific Life Insurance Company (“Pacific Life”). Pacific Global Advisors LLC and Cadence Capital Management LLC are each wholly-owned subsidiaries of Pacific Global Asset Management and indirect subsidiaries of Pacific Life.

Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.

Funds are distributed by Foreside Fund Services, LLC, a member of FINRA and SIPC.