ACLC

ACLC is one of the first ETFs to use the non-transparent, NYSE Proxy Portfolio structure which discloses holdings only on a quarterly basis with a 15-day lag. The fund actively selects US large-caps using its own quantitative model to score stocks based on their value and growth potential with an overlay of ESG metrics, with the end goal of identifying most attractive ESG stocks. Each stock's final composite score is evaluated on a sector-specific basis, meaning those with the strongest score in their respective sector are considered for the portfolio. Through this investment process, ACLC seeks to build an ESG profile that it believes will outperform its benchmark, the S&P 500. Due to its unique structure, the fund holdings are represented in a proxy portfolio published on its website daily which correlates to the fund's holdings, and disclose its weight overlap which represents return deviation relative to the actual fund holdings. It is important to consider the trading aspects of such a structure.