National Security Emerging Markets index ETF

Fund Objective & Principal Strategy

The National Security Emerging Markets Index ETF (the "Fund") seeks to track the results, before fees and expenses, of the Alerian National Security Emerging Markets Index (the "Index"). The Index is subject to a National Security Governance (NSG) process that filters out companies that test positive for at least one of nine investment screens:

1. Subject to U.S. Government sanctions
2. Defense contractor in a country of concern
3. Provider of sensitive dual-use items to a hostile military
4. Participant in state-sponsored influence operations against the U.S. or its allies
5. Strategic threat
6. Cybersecurity threat
7. Espionage threat
8. Human rights violator
9. Operator in disputed areas of the South China Sea or East China Sea

NSG Process

The National Security Governance Investing Process behind NSI is modeled on the U.S. Intelligence Cycle:

• Professional Open Source Intelligence tools and methods
• Intelligence Community Analytic Standards
• Continual evaluation and feedback cycle

Why NSI?

NSI seeks to:

• Invest in emerging markets without compromising U.S. national security and human rights interests
• Deny capital to foreign companies that endanger American forces
• Protect shareholder value by reducing geo-political risks associated with bad actors