UPAR

UPAR uses leverage in an effort to balance portfolio risk across four asset classes: TIPS, US treasuries, global equities and commodities. It targets an allocation that is 160-180% of the fund's net asset value at each quarterly rebalance. The fund's asset allocation uses "risk-parity” approach to target similar risk contributions from each asset class based on their long-term historic volatility. This means that roughly half of UPAR's portfolio is made up of relative low-risk assets, TIPS and US treasuries, and half allocated to high risk, equities and commodities. The fund will also use US treasury futures, ADRs/GDRs, repurchase agreements, ETFs tracking broad-based equity index, and other exchange-traded vehicles in achieving its desired exposure. With such investments, UPAR aims to generate returns during economic growth, preserve capital during economic contraction, and preserve rates of return during heightened inflation.