SMQ
Inverse exposure to an ETF tracking the largest Nasdaq-listed non-financial companies
Tradr 1X Short Innovation 100 Monthly ETF
SMQ seeks calendar month investment results, before fees and expenses, that correspond to the inverse (-100%) the calendar month performance of the Invesco QQQ® Trust (QQQ). The Fund does not seek to achieve its stated investment objective for a period of time different than a full calendar month.
The Invesco QQQ® Trust is an index-based exchange traded fund that seeks to track investment results, before fees and expenses, of an index designed to measure the average performance of securities issued by 100 of the largest U.S. and international non-financial companies listed on the Nasdaq Stock Market LLC. The Invesco QQQ® Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the underlying index.
Nasdaq, Inc. is the owner of the registered trademark QQQ®, and Invesco QQQ® is used by Invesco under license from Nasdaq, Inc.
* The Fund’s investment advisor has contractually agreed to waive its fees and/or pay for operating expenses of the Fund to ensure that total annual fund operating expenses (exclusive of any (i) leverage interest, (ii) brokerage fees and commission, (iii) acquired fund fees and expenses, (iv) fees and expenses associated with derivative instruments (including for example options and swap fees and expenses), (v) interest and dividend expense on short sales, (vi) taxes, (vii) expenses incurred in connection with any merger or reorganization, or (viii) extraordinary expenses such as litigation expenses) will not exceed 1.50%. This agreement is effective until August 31, 2026 and it may be terminated before that date only by Trust's Board of Trustees.
**“Other expenses” are estimated for the current fiscal year.
Not for Everyone
Tradr ETFs are for sophisticated investors and professional traders with high conviction views and are very different from most other exchange-traded funds. Know the risks before you invest. The significant risks of leveraged and/or inverse ETFs include the risks of leverage, derivatives, and/or other complex investment strategies that they employ. These investments are designed for short-term trading for investors seeking daily, monthly or quarterly leveraged investment results…
Investors in the fund should: (a) understand the risks associated with the use of leverage; (b) understand the consequences of seeking daily, calendar month and calendar quarter inverse and leveraged investment results; (c) for short ETFs, understand the risk of shorting; (d) intend to actively monitor and manage their investment. Fund performance will likely be significantly different than the benchmark over periods longer than the specified reset period and the performance may trend in the opposite direction than its benchmark over periods other than that period.
The Funds seek leveraged investment results over a specific period and are intended to be used as short-term trading vehicles. The Funds pursue leveraged investment objectives, which means they are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security. The volatility of the underlying security may affect a Fund’s return as much as, or more than, the return of the underlying security.
ETFs involve risk including possible loss of the full principal value, regardless of whether an investor holds the ETF for a single calendar reset period or over the course of multiple calendar reset periods. There is no assurance that the Fund will achieve its investment objective. Principal risks and other important risks may be found in the prospectus.
