DATA AS OF 11/19/2024

Primary Exchange CBOE BZX EXCHANGE, INC.
Ticker CEFS
Cusip 30151E806
Net Assets 237,327,045
Shares Outstanding 10,800,001
Median 30-Day Bid/Ask Spread 0.27%
- -
Fund Inception Date 03/21/2017
Management Fee 1.10%
Other Expenses 1.39%
Acquired Fund Fees and Expenses 3.32%
Total Annual Fund Operating Expenses[1] 5.81%
Distribution Rate* as of 10/31/24 7.71%

NET ASSET VALUE (NAV)

NAV 21.97
Daily Change ($) 0.01
Daily Change (%) 0.05%

MARKET PRICE

Closing Price 22.1600
Daily Change ($) 0.1200
Daily Change (%) 0.54%

PREMIUM DISCOUNT

NAV MARKET PRICE PREMIUM/DISCOUNT
21.97 22.1600 0.1900

[1]The Total Annual Fund Operating Expenses in this fee table may not correlate to the expense ratios in the Fund’s financial highlights and financial statements because the financial highlights and financial statements reflect only the operating expenses of the Fund and do not include Acquired Fund Fees and Expenses, which are fees and expenses incurred indirectly by the Fund through its investments in certain underlying investment companies.

PERFORMANCE

MONTH END AS OF: 10/31/2024
1 Month 3 Month YTD Since Inception 1 Year 3 Years 5 Years
Fund NAV -0.59% 3.55% 24.07% 11.02% 42.40% 11.43% 12.14%
Market Price -1.81% 3.02% 22.41% 10.91% 41.32% 11.25% 11.90%
QUARTER END AS OF: 09/30/2024
1 Month 3 Month YTD Since Inception 1 Year 3 Years 5 Years
Fund NAV 2.31% 6.70% 24.81% 11.24% 38.31% 12.53% 12.40%
Market Price 2.62% 6.55% 24.67% 11.30% 38.66% 12.57% 12.49%

The performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Returns greater than 1 year are annualized, returns 1 year or less are not. Shares are bought and sold at market price (closing price) not net asset value (NAV) and are not individually redeemed from the Fund. The market price returns are based on the official closing price of an ETF share or, if the official closing price isn't available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Brokerage commissions will reduce returns.

*Annualized Distribution Rate: The most recent regular distribution, or expected distribution, (excluding additional year end distributions) annualized for frequency, divided by current NAV. All or a portion of a distribution may consist of a return of capital and the monthly dividend rate can change at any time.

**30-Day SEC Yield: is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent month end. This figure reflects the interest earned during the period after deducting the Fund’s expenses for the period.

NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

Holdings as of 11/19/2024

COMPANY NAME TICKER FIGI SHARES MARKET VALUE % OF NET ASSET VALUES
BLACKROCK ESG CAP ALL TRM TR ECAT BBG012Q6JDC0 2,048,168 35,044,154.48 14.90%
BLACKROCK INNOV & GRW TRM TR BIGZ BBG00ZSNMK93 3,130,236 23,852,398.32 10.14%
PIMCO DYNAMIC INCOME STRAT PDX BBG00MF4SGM6 467,542 12,146,741.16 5.17%
GABELLI DIVIDEND & INCOME TR GDV BBG000C08QP2 474,043 11,666,198.23 4.96%
ASA GOLD AND PRECIOUS METALS ASA BBG000BCDWN0 575,128 11,600,331.76 4.93%
NBRGR BRMN NEX GEN CONNECT NBXG BBG00Z4KV9J9 740,485 9,685,543.80 4.12%
NUVEEN MULTI-ASSET INCOME NMAI BBG013NZJC39 682,990 8,544,204.90 3.63%
ADAMS DIVERSIFIED EQUITY ADX BBG000BB8MR6 367,980 8,290,589.40 3.53%
BLACKROCK CAPITAL ALLOC TR BCAT BBG00WRC2FN2 432,706 6,927,623.06 2.95%
NYLI CBRE GBL INFR MGA TRM F MEGI BBG0104P5VC1 510,491 6,855,894.13 2.92%

DISTRIBUTIONS

Month Ex Date Record Date Pay Date Dividend Long Term Capital Gains Short Term Capital Gains
October 10/24/2024 10/25/2024 10/25/2024 0.14
September 09/24/2024 09/25/2024 09/25/2024 0.14
August 08/26/2024 08/27/2024 08/27/2024 0.14
July 07/24/2024 07/25/2024 07/25/2024 0.14
June 06/24/2024 06/25/2024 06/25/2024 0.14
May 05/23/2024 05/24/2024 05/28/2024 0.14
April 04/24/2024 04/25/2024 04/26/2024 0.14
March 03/25/2024 03/26/2024 03/27/2024 0.14
February 02/26/2024 02/27/2024 02/28/2024 0.14
January 01/24/2024 01/25/2024 01/26/2024 0.14

PREMIUM DISCOUNT TABLE

Calendar Year 2023 First Quarter 2024 Second Quarter 2024 Third Quarter 2024
Days traded at nav 2 4 1 1
Days traded at premium 239 46 54 50
Days traded at discount 9 11 8 13

PREMIUM AND DISCOUNT GRAPH

Exchange Traded Concepts, LLC serves as the investment advisor. Saba Capital Management, L.P. serves as sub-advisor to the fund and is responsible for all investment decisions. Foreside Fund Services, LLC serves as the distributor.

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund's prospectus, which may be obtained by visiting www.sabaETF.com. Investors should read it carefully before investing.

Investing involves risk, including possible loss of principal. The Fund is a “fund of funds,” its investment performance largely depends on the investment performance of the Underlying Funds in which it invests, and the Fund is subject to the risks associated with the Underlying Funds. Some of those underlying risks include, but is not limited to, investments in foreign securities, which may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund's portfolio, or the Underlying Funds, to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise. Derivatives may be more sensitive to changes in market conditions, amplifying risks. The Fund, or the Underlying Funds, may engage in writing covered call options, which may limit its opportunity to profit from an increase in the price of the underlying stock above the exercise price, but continues to bear the risk of a decline in the stock. A liquid market may not exist for options held by the Fund or the Underlying Funds. While the Fund, or the Underlying Funds, may receive premiums for writing the call options, the price it may realize from the exercise of an option could be substantially below a stock's current market price. High-yield bonds held by the Fund, or the Underlying Funds, have a higher risk of default or other adverse credit events, but have the potential to pay higher earnings over investment grade bonds. The higher risk of default, or the inability of the creditor to repay its debt, is the primary reason for the higher interest rates on high-yield bonds. Diversification may not protect against market risk.