PIFI – ClearShares Piton Intdt Fxd Inc ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks current income consistent with the long term preservation of capital. The fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets (plus borrowings for investment purposes) in debt securities and other instruments that have economic characteristics similar to such securities. It principally invests in U.S.-dollar denominated, investment-grade securities and seeks to typically maintain a dollar-weighted average portfolio maturity of zero to ten years.

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
PIFI	ClearShares Piton Intermediate Fixed Income ETF	ETF	Open			Oct 1, 2020	$95.44M	0.450%	—	—	−$9.71M

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