ARKD

ARKD is an actively managed Exchange Traded Fund (ETF) that, for rolling 12-month periods from January to January (each, an "Outcome Period") seeks to provide investors with a defined risk-return profile, before fees and expenses. Specifically, the Fund is structured to limit downside participation to approximately 50% of any decline in the share price of the reference asset, the ARK Disruptive Innovation ETF (ARKK), measured from its value at the beginning of each Outcome Period. At the same time, the Fund is structured to provide maximum participation in ARKK's upside above a predefined hurdle rate of approximately 5%.