Investing involves risk. Principal loss is possible.
Quasar Distributors, LLC
Holdings are subject to change and should not be considered a recommendation to buy or sell any security.
**The 30-Day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days.
The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and important information about the investment company, and it may be obtained by calling 800-617-0004. Read it carefully before investing.
There is no guarantee that TTAI will achieve its investment objective. Investing involves risk, including the possible loss of principal. Because the Fund is an ETF (rather than a mutual fund), shares are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemable. Owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Unit aggregations only, consisting of 25,000 shares. Brokerage commissions will reduce returns. Investments in the Fund include risks associated with small-and mid-cap securities, which involve limited liquidity and greater volatility than large-cap securities. Returns on investments in foreign securities could be more volatile than investments in domestic securities (TTAC).The evaluation of ESG ratings may affect the Fund’s exposure to certain issuers or industries and may not work as intended. There is no guarantee that screening the Fund’s portfolio or individual securities based on their ESG ratings will increase the Fund’s performance.
The S&P Developed Ex-U.S. BMI Index is a market capitalization weighted index that defines and measures the investable universe of publicly traded companies domiciled in developed countries outside the U.S. The Developed Index is float adjusted, meaning that only those shares publicly available to investors are included in the Developed Index calculation. It is not possible to invest directly in an index.
Free Cash Flow (FCF) represents the cash that a company is able to generate after accounting for capital expenditures.
Alpha is a measure of performance on a risk-adjusted basis.
Opinions expressed are subject to change, are not guaranteed, and should not be considered investment advice.
Market Price: The current price at which shares are bought and sold. Market returns are based upon last trade price. NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.
Morningstar Sustainability Rating disclosure information:
The Morningstar Sustainability Rating™ is intended to measure how well the issuing companies of the securities within a fund’s portfolio holdings are
managing their financially material environmental, social and governance, or ESG, risks relative to the fund’s Morningstar Global Category peers.
The Morningstar Sustainability Rating calculation is a five‐step process. First, each fund with at least 67% of assets covered by a companylevel ESG Risk Score
from Sustainalytics receives a Morningstar Portfolio Sustainability Score. The Morningstar Portfolio Sustainability Score is an asset‐weighted average of
company‐level ESG Risk Scores. The Portfolio Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more
of its assets invested in companies with high ESG Risk. Second, the Historical Sustainability Score is an exponential weighted moving average of the
Portfolio Sustainability Scores over the past 12 months. The process rescales the current Portfolio Sustainability Score to reflect the consistency of the
scores. The Historical Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more of its assets invested in
companies with high ESG Risk, on a consistent historical basis. Third, the Morningstar Sustainability Rating is then assigned to all scored funds within
Morningstar Global Categories in which at least thirty (30) funds receive a Historical Sustainability Score and is determined by each fund’s Morningstar
Sustainability Rating Score rank within the following distribution:
• High (highest 10%)
• Above Average (next 22.5%)
• Average (next 35%)
• Below Average (next 22.5%)
• Low(lowest 10%)
Fourth, then Morningstar applies a 1% rating buffer from the previous month to increase rating stability. This means a fund must move 1% beyond the rating
breakpoint to change ratings. Fifth, they adjust downward positive Sustainability Ratings to funds with high ESG Risk scores. The logic is as follows:
• If Portfolio Sustainability score is above 40, then the fund receives a Low Sustainability Rating.
• If Portfolio Sustainability score is above 35 and preliminary rating is Average or better, then the fund is downgraded to Below Average.
• If the Portfolio Sustainability score is above 30 and preliminary rating is Above Average, then the fund is downgraded to Average.
• If the Portfolio Sustainability score is below 30, then no adjustment is made.
The Morningstar Sustainability Rating is depicted by globe icons where High equals 5 globes and Low equals 1 globe. Since a Sustainability Rating is assigned
to all funds that meet the above criteria, the rating it is not limited to funds with explicit sustainable or responsible investment mandates.
Morningstar updates its Sustainability Ratings monthly. The Portfolio Sustainability Score is calculated when Morningstar receives a new portfolio. Then, the
Historical Sustainability Score and the Sustainability Rating is calculated one month and six business days after the reported as‐of date of the most recent
portfolio. As part of the evaluation process, Morningstar uses Sustainalytics’ ESG scores from the same month as the portfolio as‐of date. Please visit http://
corporate1.morningstar.com/SustainableInvesting/ for more detailed information about the Morningstar Sustainability Rating methodology and calculation
frequency. Sustainalytics is an independent ESG and corporate governance research, ratings, and analysis firm. Morningstar, Inc. holds a noncontrolling
ownership interest in Sustainalytics.
©2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be
copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any
damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Source: Morningstar
2021 TTAM Advisors LLC