FUND OVERVIEW

Fund Name AccuShares Spot CBOE VIX Up Class Shares
Ticker VXUP
Intraday Ticker VXUP.IV
Management Fee 0.95%
Inception Date 05/19/2015

 

AccuShares Spot CBOE VIX Fund Up Class Shares are designed to track the changes in specified measures of price volatility of the S&P 500 Index® occurring from the prior Distribution Date to the next Distribution Date or a Measuring Period.  Because the fund could make periodic Distributions on a monthly basis, the Funds should be considered a short term investment in volatility and if held for the entire Measurement Period will be a one month investment horizon.  The S&P 500 is an indicator of U.S. equities and is meant to reflect the characteristics of the large cap universe. Up Shares of the Fund seek to provide investment results which correspond to the performance of its Underlying Index over a one month period, whether favorable or adverse (subject to a maximum increase or decrease of 90%).

The performance of the securities will also incorporate income from the Eligible Assets held by the Fund (if any) and the Daily Amount as defined below (which could be zero). The Underlying Index of the Fund is the CBOE® Volatility Index®, also known as “the VIX®”.

Unlike other exchange traded products, the fund will engage principally in cash distributions and potentially paired share distributions to deliver to the shareholders the economic exposure to the fund’s underlying index, the CBOE Volatility Index.  Such distributions may not represent any income or gains on the fund’s eligible assets and may represent a return of shareholder’s capital.  Each fund will issue its shares in offsetting pairs, when one constituent of the pair is positively linked to the fund’s underlying index (“Up Shares”) and the other constituent is negatively linked to the fund’s underlying index (“Down Shares”).  Therefore, the fund will only issue, distribute, maintain and redeem equal quantities of Up and Down shares at all times.  Any paired shares received, as a result of Regular and Special Distributions, exactly offset each other.  To maintain your original correlation to the underlying index, you may wish to sell the shares of the opposite class, subject to your broker’s commissions or other charges.  This may impede the ability of your investment to closely track the performance of the Underlying Index.

Shares of the fund are intended for sophisticated investors, professional investors and institutional investors.

MARKET DATA

NAV $3.36
Premium/Discount %(1) 16.1900%
Shares Outstanding 235,623
Volume 885

 

NAV Change $0.04
Closing Price $3.90
Closing Date 07/26/2016
Market Capitalization(2) $918,930

PROFILE

Primary Exchange NASDAQ
Underlying Index The CBOE Volatility Index
Underlying Index Ticker VIX

 

Distribution Frequency Monthly
Most Recent Distribution Amount $0.00
Special Distribution Trigger(3) 9.02%

(1) The Premium/Discount % is the amount (stated as a percent) by which the selling or purchase price of an ETF is greater than (premium) or less than (discount) its net asset value (NAV) and is based on the midpoint of the bid/ask spread at 4 p.m. ET and does not represent the returns an investor would receive if shares were traded at other times.

(2) The Market Capitalization is calculated using the current Shares Outstanding multiplied by the Closing Price.

(3) The Special Distribution Trigger is the percentage change in the Underlying Index since the most recent Distribution Date and is intended to give investors an indication of how close the shares are to a Special Distribution which occurs when the Underlying Index moves by 75% from the most recent Distribution Date.