LAYS

LAYS is an actively managed ETF seeking long-term capital appreciation through a double-stacked stock strategy. The fund employs swap agreements and/or listed options to provide long exposure to NVIDIA Corporation (NVDA) and Advanced Micro Devices, Inc. (AMD). MSTR designs and supplies graphics processing units (GPUs), as well as engineers the most advanced chips, systems, and software. AMD is a top provider of CPU technology, GPU graphics technology, high-performance computing (HPC), AI processors, servers, etc. Together, the fund targets exposure to the semiconductor industry. The fund uses leverage to stack the total return of NVDA and AMD. Essentially, every $1 investment is $1 exposure each to NVDA and AMD. The fund targets a 100% notional exposure to each component or an aggregate notional exposure of 200%. The fund may invest in other assets to serve as collateral, such as US Treasurys, money market funds, short-term bond ETFs, and/or corporate debt.