Defiance AI Capacitors & MLCC ETF CAPA Strategy

The investment seeks to track the performance, before fees and expenses, of the BITA AI Capacitors & MLCC Index. Under normal circumstances, the fund will invest at least 80% of the fund’s net assets (plus borrowings for investment purposes) in investments that provide exposure to the component securities of the index. The index seeks to track the performance of publicly listed companies that generate significant revenue from the design, manufacture, and supply of advanced capacitors and passive electronic components used in artificial intelligence (“AI”) infrastructure. It is non-diversified.