HEDG – Equable Shares Hedged Equity ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks income, risk mitigation and long-term capital appreciation. The fund seeks to achieve its investment objective by investing in equity securities of U.S. issuers based on the S&P 500 Index (the "index") while hedging overall market exposure by writing (selling) exchange traded call options based on the same securities. Under normal market conditions, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities based on the index.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
HEDG	Equable Shares Hedged Equity ETF	ETF	Open			May 31, 2019	$467.59M	0.960%	Average	—	$149.24M

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