LHA Market State™ Shares

Risk-Responsive Growth Equity Investing

LHA Market State™ Tactical Q ETF (Ticker Symbol: MSTQ)

The LHA Market State™ Tactical Q ETF (Ticker Symbol: MSTQ) seeks long-term out-performance relative to the U.S. large-capitalization growth equity market.

  • The ETF offers exposure to the U.S.-listed large capitalization, growth-oriented companies with a dynamic risk overlay.
  • MSTQ aims to provide upside participation in U.S. large-capitalization growth equities, generally through investment in Nasdaq 100 ETF (Ticker Symbol: QQQ) or the Nasdaq 100 futures contracts.  As volatility increases, the MSTQ aims to provide uncorrelated returns and decrease the impact of falling growth equity markets.
  • Upside Participation: MSTQ seeks to provide “index-plus” returns in calm and rising U.S. large-capitalization growth equity markets.
  • Downside Reinforcement: MSTQ seeks to preserve capital and provide uncorrelated returns in volatile conditions and falling U.S. growth equity markets.
Net Assets as of 09/29/2023 $5.7m
NAV $25.31
Shares Outstanding 225,000
Premium/discount Percentage -0.06%
Closing Price $25.30
30 Day Median Spread 0.64%

Data as of 09/29/2023

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by ICE Data Indices, LLC which approximates the Fund's NAV every fifteen seconds throughout the trading day.

30 Day Median Bid Ask 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 Quarter end returns as of 07/31/2023
  Quarter 1 Year 3 Year Since Inception
Fund NAV 17.18 15.60 xxxx 6.23
Fund Market 16.93 15.84 xxxx 6.14

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 (781) 639-3000 (ext.147). Please note that performance shown for periods that are less than one year are not annualized.

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.

EX- Date Record Date Payable Date Amount
12/15/2022 12/16/2022 12/19/2022 $0.00 per share
TOP HOLDINGS: September 29th
Percentage of Net Assets Name Identifier Shares Held Market Value
46.98% NASDAQ 100 E-MINI Dec23 NQZ3 Index 9 2,675,970.00
42.65% INVESCO QQQ TR UNIT SER 1 QQQ 6,781 2,429,428.87
25.39% UNITED STATES TREAS BILLS 12/28/2023 912796ZN2 1,465,000 1,446,218.08
19.40% Cash & Other Cash&Other 1,104,818 1,104,817.79
12.55% UNITED STATES TREAS BILLS 02/22/2024 912796Z28 730,000 714,628.57
3.43% CBOE VIX FUTURE Oct23 UXV3 Index 11 195,483.20
1.92% CBOE VIX FUTURE Nov23 UXX3 Index 6 109,477.80

Data as of 10/02/2023. Holdings are subject to change and should not be considered recommendations to buy or sell any security.

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