The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the average annual total returns compared to that of a broad-based securities market index and a style-specific index (one reflecting the market segments in which the Fund invests). The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information on the Fund’s results can be obtained by visiting www.kooletf.com.
During the periods shown in the bar chart above, the Fund’s highest quarterly return was 14.43% (quarter ended June 30, 2025) and the Fund’s lowest quarterly return was -6.28% (quarter ended March 31, 2025). The Fund’s year-to-date return, as of June 30, 2026, was 13.63%.
After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation, may differ from those shown, and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA).
| Average
Annual Total Returns Period Ended December 31, 2025 |
Past
1 Year |
Since
Inception1 |
| Before
taxes After taxes on distributions After taxes on distributions and sale of shares |
16.03% 15.85% 9.49% |
15.15% 14.95% 11.63% |
| S&P
500 Index (reflects no deductions for fees and expenses) |
17.858% |
17.98% |
| 1 | The Fund commenced operations on April 1, 2024. |