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The LHA Market State Strategy
 
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The LHA Market State Strategy is constructed using a quantitative model that employs Artificial Intelligence (AI) to manage exposure to the U.S. equity market, seeking to participate in market rallies and the cushion market downturns. DISCLOSURE: Please refer to the Prospectus for LHA Market State™ U.S. Tactical ETF (the “Fund”) for important information, including the Fund’s objectives, risks, charges, and expenses. Read and consider the Prospectus and related documents carefully before investing. You may also obtain a hard copy of the Prospectus by calling Rick Tomney at Little Harbor Advisors, LLC (781) 639-3000 (ext.147). Investing involves risk. Principal loss is possible. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemed from the Fund. Brokerage commissions will reduce re-turns. The Fund will use future contracts. The potential loss of principal in regard to futures contracts can be in amounts greater than the initial amount invested in the futures contract. Because the Fund may “turn over” some or all of its portfolio as frequently as daily, the Fund may incur high levels of transaction costs, which could reduce shareholder returns. Fund holdings and allocations are subject to change and should not be considered recommendations to buy or sell any security. Mean- is the simple mathematical average of a set of two or more numbers. In a distribution chart it measures the center of distribution data. Variance- (also known as standard deviation) is a measurement of the spread between numbers in a data set. The variance measures how far each number in the set is from the mean. Skew- is a measurement of the symmetry of a distribution around its mean. It is the degree of distortion from the symmetrical bell curve, or normal distribution, in a set of data. Skewness can be negative, positive, zero or undefined. Kurtosis- is a statistical measure that is used to describe the distribution. Whereas skewness differentiates extreme values in one versus the other tail, kurtosis measures extreme values in either tail of the distribution. High kurtosis of the return distribution implies that the investor will experience occasional extreme returns (either positive or negative), more extreme than the usual + or three standard deviations from the mean that is predicted by the normal distribution of returns. The Standard & Poor’s 500, often abbreviated as the S&P 500, or just the S&P, is an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ. It is not possible to invest directly in an index. The LHA Market State TM U.S. Tactical ETF is distributed by Quasar Distributors, LLC.