TEQI

TEQI is one of the first ETFs offered by the issuer. The fund actively selects global large-cap companies that the issuer believes to be undervalued based on various measures when compared to the broader equity market, such as: (1) low price/earnings ratio (2) above-average dividend yield, and (3) low stock price relative to a company's fundamentals. The portfolio can at times invest significantly in certain sectors. To avoid giving up their secret sauce, the fund provides a proxy portfolio, published daily on the issuer's website. This proxy is designed to closely track the performance of the fund's portfolio, but it is not the actual holdings. Fund holdings are only disclosed 15 days after quarter end. As such, it is important to take into consideration such a structure could result in greater price disparity during volatile markets.