EHLS2024-09-04T19:19:01+00:00
Premier Equity Core

Even Herd’s Long Short ETF (EHLS)

Even Herd’s Long Short ETF (EHLS) is a beacon in advanced asset management agnostic to market timing. This ETF epitomizes our dedication to robust returns through an adept fusion of individual equity investments and strategic shorting across a diversified portfolio. Powered by our in-house proprietary system, EHLS discerningly invests in high-promise securities and prudently shorts underperformers. This strategic blueprint not only guides our investment choices but also cements EHLS’s status as the prime core equity allocation, independent of market timing. No matter the market environment, EHLS strives to be the investment of choice.

The investment world is full of opportunities, but success often hinges on timing the market correctly. It’s common advice to “buy low and sell high,” but executing this strategy is challenging. This difficulty is magnified when considering not just individual stocks, but entire asset classes. Historical performances often relate to specific periods. Consider, for instance, the possibility of the US experiencing rising interest rates for the next few decades. Would bond performance that faced persistent rate declines over the last four decades be relevant?

Many investment options are tailored for specific market conditions. If you were certain of an upcoming market crash, your investment approach would differ from when anticipating a bull market. However, Even Herd’s Long Short ETF, EHLS, aims to provide a versatile solution. It’s designed to be indifferent to market timing, potentially benefiting a portfolio in any environment.

The strategy is similar to surfing

To help illustrate, the system observes markets like the ocean, with one wave peaking, it capitalizes on finding the next emerging wave. It never predicts but simply reacts. Additionally, this specific fund employs a strategy that includes a risk mitigation component by counteracting market downturns through short-selling stocks that show signs of significant decline, in essence, shorting as the waves appear to be crashing. This entire process is made possible by Even Herd’s proprietary system. The fund emphasizes diversification, holding a wide range of positions to ensure it isn’t overly affected by the performance of just a few holdings. EHLS strives to be the core equity investment that is a viable piece of an investor’s portfolio, regardless of the market environment. Even Herd is focused on watching the herd and catching the trends, so you do not have to.

Fund Specifications

SUMMARY

Even Herd’s Long Short ETF (EHLS) is an actively managed exchange-traded fund oriented towards the pursuit of comprehensive capital appreciation via publicly traded equities. Using its proprietary system, Even Herd takes long positions in securities it believes will outperform and short positions in those expected to underperform, aiming to remain agnostic to market timing. It seeks to maintain between 40 and 90% net equity exposure, although it may stray from that target in either direction if the manager deems it necessary. EHLS also intends to be a diversified fund and be suitable for any market environment.

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FUND INFORMATION

Fund Name

Even Herd Long Short ETF

Fund Inception

04/02/2024

Ticker

EHLS

Primary Exchange

NASDAQ

CUSIP

88636J543

NAV Symbol

EHLS.NV

Expense Ratio*

1.58%

30 Day SEC Yield**

NA%

*The Fund’s expense ratio includes Acquired Fund Fees and Expenses (“AFFE”). If AFFE were excluded, the expense ratio would be 1.15%.
**The 30-Day SEC yield is calculated with a standardized formula mandated by the SEC. The formula is based on maximum offering price per share and does not reflect waivers in effect. As of NA.
FUND DATA & PRICING (as of 09/09/2024)

Net Assets

$48016102.60

NAV

$20.17

Shares Outstanding

2380000.000

Closing Price

$20.17

Premium/Discount Percentage

-0.03%

Median 30 day Spread Percentage

0.20%

*The 30-Day Median Bid-Ask Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Performance

as of 08/31/2024

as of 08/31/2024

Inception date 04/02/2024

Month-End Performance

Ticker 1-Month 3-Month 6-Month YTD 1-Year Cumulative Annualized
EHLS NAV
 5.08% -1.63% -% -% -% 2.83% -%
EHLS MKT
 5.15% -1.53% -% -% -% 2.99% -%
S&P 500
 2.43% 7.39% -% -% -% 8.33% NA%

Quarter-End Performance

Ticker 1-Month 3-Month 6-Month YTD 1-Year Cumulative Annualized
EHLS NAV
 5.08% -1.63% -% -% -% 2.83% -%
EHLS MKT
 5.15% -1.53% -% -% -% 2.99% -%
S&P 500
 2.43% 7.39% -% -% -% 8.33% NA%
The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost, and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling +1 (844) 713-1220.
Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.
The cumulative and annualized numbers above are since inception of the fund, 04/02/2024.

Top Ten Holdings

Fund Holdings

as of 09/10/2024
CUSIP TICKER NAME SHARES MARKET VALUE % OF NAV
Cash&Other Cash&Other Cash & Other 12298491.920000 12298491.92 25.61%
31846V336 FGXXX First American Government Obligations Fund 12/01/2031 1245398.510000 1245398.51 2.59%
842587107 SO Southern Co/The 10790.000000 963762.80 2.01%
05961W105 BMA Banco Macro SA 14904.000000 951471.36 1.98%
392709101 GRBK Green Brick Partners Inc 12327.000000 909239.52 1.89%
65341D102 NXRT NexPoint Residential Trust Inc 20315.000000 907471.05 1.89%
36165L108 GDS GDS Holdings Ltd 51339.000000 893298.60 1.86%
697660207 PAM Pampa Energia SA 15338.000000 885922.88 1.85%
65473P105 NI NiSource Inc 25299.000000 846251.55 1.76%
126402106 CSWI CSW Industrials Inc 2662.000000 833977.98 1.74%
HOLDINGS ARE SUBJECT TO CHANGE.

Top Ten Holdings

Top Ten Fund Holdings

as of 09/10/2024
Ticker: Cash&Other Cash & Other
Shares: 12298491.920000 CUSIP:  Cash&Other
25.61% of NAV Value: $12298491.92
Ticker: FGXXX First American Government Obligations Fund 12/01/2031
Shares: 1245398.510000 CUSIP:  31846V336
2.59% of NAV Value: $1245398.51
Ticker: SO Southern Co/The
Shares: 10790.000000 CUSIP:  842587107
2.01% of NAV Value: $963762.80
Ticker: BMA Banco Macro SA
Shares: 14904.000000 CUSIP:  05961W105
1.98% of NAV Value: $951471.36
Ticker: GRBK Green Brick Partners Inc
Shares: 12327.000000 CUSIP:  392709101
1.89% of NAV Value: $909239.52
Ticker: NXRT NexPoint Residential Trust Inc
Shares: 20315.000000 CUSIP:  65341D102
1.89% of NAV Value: $907471.05
Ticker: GDS GDS Holdings Ltd
Shares: 51339.000000 CUSIP:  36165L108
1.86% of NAV Value: $893298.60
Ticker: PAM Pampa Energia SA
Shares: 15338.000000 CUSIP:  697660207
1.85% of NAV Value: $885922.88
Ticker: NI NiSource Inc
Shares: 25299.000000 CUSIP:  65473P105
1.76% of NAV Value: $846251.55
Ticker: CSWI CSW Industrials Inc
Shares: 2662.000000 CUSIP:  126402106
1.74% of NAV Value: $833977.98
HOLDINGS ARE SUBJECT TO CHANGE.
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Copyright 2024, Even Herd, LLC – All Rights Reserved.
Before investing, you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus. A prospectus may be obtained by clicking here. Please read the prospectus carefully before you invest.
Since the Funds are actively managed, they do not seek to replicate the performance of a specified index. The Funds, therefore, may have higher portfolio turnover and trading costs than index-based funds.
“Long” and “short” are investment terms used to describe ownership of securities. To buy securities is to “go long.” The opposite of going long is “selling short.” Short selling is an advanced trading strategy that involves selling a borrowed security. Short sellers make a profit if the price of the security goes down and they are able to buy the security at a lower amount than the price at which they sold the security short. The Fund uses short sales and derivatives (options), both of which may involve substantial risk. The loss on a short sale is in principle unlimited since there is no upward limit on the price of a shorted asset. The potential loss from a derivative may be greater than the amount invested due to counter-party default; illiquidity; or other factors. The Fund may hold illiquid assets which may cause a loss if the Fund is unable to sell an asset at a beneficial time or price. The Fund will suffer a loss if it sells a security short and the value of the security rises rather than falls. It is possible that the Fund’s long positions will decline in value at the same time that the value of its short positions increase, thereby increasing potential losses to the Fund.
Momentum Investing Risk. Securities that have previously exhibited price momentum may be more volatile than a broad cross-section of securities and their returns may be less than the returns of the overall stock market or other styles of investing.
Leverage Risk.The Fund utilizes leverage in its investment program. The use of leverage allows the Fund to make additional investments, thereby increasing its exposure to assets, such that its total assets may be greater than its capital.
High Portfolio Turnover Risk.The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.
Models and Data Risk. The composition of the Fund’s portfolio is heavily dependent on investment models developed by the Sub-Adviser or third-parties as well as information and data supplied by third parties (“Models and Data”).
Foreign Securities Risk. Investments in securities of non-U.S. issuers involve certain risks not involved in domestic investments and may experience more rapid and extreme changes in value than investments in securities of U.S. companies.
Derivatives Risk. The Fund’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying assets or index; the loss of principal, including the potential loss of amounts greater than the initial amount invested in the derivative instrument; the possible default of the other party to the transaction; and illiquidity of the derivative investments.
New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.
Foreside Fund Services, LLC, Distributor | Tidal ETF Services, Launch and Structure Partner
Even Herd, Foreside Fund Services, and Tidal ETF Services are not affiliated.
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