AMPD

Investment Objective

The Fund seeks to track the total return performance, before fees and expenses, of the ICE U.S. Carbon Neutral Power Futures Index (ticker ICECNPIT) by investing in liquid U.S. electricity and carbon allowance futures contained in the index.

Fund Summary

The ICECNPIT combines the next 12 months of electricity futures contracts from the six major U.S. power pools (ISOs) deemed to be broadly representative of electricity consumption in the U.S. along with sufficient carbon allowance futures contracts designed, based on independently sourced data, to offset the carbon emissions from the electricity generation associated with the electricity futures. Individual power regions in the index are weighted based on the average annual load measured in megawatt hours reported by each ISO.

The Fund invests in a representative sampling of the futures contained in the ICECNPIT as well as futures not contained in the ICECNPIT that are highly correlated to the futures in the index. 

Fund Documents

Fund Details

*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.

Fund Data & Pricing

*30-Day Median 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

The performance data quoted above 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 above. Performance current to the most recent month-end can be obtained by calling (855) 495-1500.

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 historical returns. Returns beyond 1 year are annualized.

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.

Distribution Detail

Top 10 Holdings

Holdings are subject to change without notice.

Purchase

The Fund (AMPD) is available through various channels including via phone (855) 495-1500, broker-dealers, investment advisers, and other financial services firms, including:

This Fund is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.

In the News

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Contact Us

Email: [email protected]
Phone: (855) 495-1500

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (855) 495-1500 or visit our website at www.cnicfundsetfs.com. Read the prospectus or summary prospectus carefully before investing.


Investments involve risk. Principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. Brokerage commissions may apply and would reduce returns. The fund is new and has limited operating history to judge.


Fund Risks: The Fund is classified as a non-diversified investment company. The Fund may invest a greater portion of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. To the extent that the Fund invests in other funds, a shareholder will bear two layers of asset-based expenses, which could reduce returns compared to a direct investment in the underlying funds. Energy Sector Risk. The energy sector is a major emitter of greenhouse gases, its activities may significantly impact the supply and demand of emissions allowances. Rolling Futures Contract Risk: The Fund will invest in and have exposure to futures contracts and is subject to risks related to “rolling” them. Rolling occurs when the Fund closes out of a futures contract as it nears its expiration and replaces it with a contract that has a later expiration. “Cap and Trade” Risk. The ICE California Carbon Allowance Futures Contracts and ICE Regional Greenhouse Gas Initiative Futures Contracts work on the “cap and trade” principle, whereby a cap is set on the total amount of greenhouse gases that can be emitted by the installations (or companies) covered by the system. Cayman Subsidiary Risk. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. Commodity-Linked Derivatives Tax Risk. The tax treatment of commodity-linked derivative instruments may be adversely affected by changes in legislation, regulations, or other legally binding authority. Commodity Pool Regulatory Risk. The Fund’s investment exposure to futures instruments will cause it to be deemed to be a commodity pool, there by subjecting the Fund to regulation under the CEA and CFTC rules. Illiquid Investments Risk. The Fund’s investments may at times become illiquid, this lack of liquidity could be caused by the absence of a readily available market or because of legal or contractual restrictions on sales. New Fund Risk. The Fund is a recently organized management investment company with no operating history. Passive Investment Risk. The Fund invests in the financial instruments included in or representative of the Index regardless of their investment merit. Tracking Error Risk. As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons. Volatility Risk: The price of futures contracts can be volatile and influenced by trade, fiscal, monetary and exchange control programs and political changes. Carbon Allowance Futures Contracts Risk. The value of carbon allowance futures at settlement is determined by reference to the spot price of eligible carbon allowances to be delivered.


Definitions:

Basis Point: A standard measure for interest rates and other percentages in finance. One basis point (BPS) is 1/100th of 1%. 


Launch & Structure Partner: Tidal Financial Group.

Distributed by Foreside Fund Services, LLC. Foreside, Tidal, and CNIC are not affiliated.