LBO
LBO is an actively managed income-oriented Exchange Traded Fund that provides investors with exposure to certain components of the leveraged buyout ecosystem. This ETF invests in publicly listed private equity buyout firms & publicly-listed sponsors, Business Development Companies (BDCs), leverage providers, and related asset managers.
Reasons to Consider WHITEWOLF Publicly Listed Private Equity ETF (Ticker: LBO)
Exposure to Private Markets
LBO invests in publicly listed private equity, leveraged finance providers (BDCs), and related asset managers. BDCs primarily make investments in the debt and/or equity of small to mid-size companies predominantly in the U.S.
Current Income Generation
LBO provides investors with the potential for meaningful current income generation as well as long-term capital appreciation.
Diversification
LBO provides investors with exposure to a diversified portfolio of private companies while also offering the liquidity and transparency of a publicly traded stock.
Fund Objective
WHITEWOLF Publicly Listed Private Equity ETF (the “Fund” or “LBO”) seeks long-term capital appreciation and current income.
Methodology
Fund Details
Fees & Expenses
*The Fund’s investment advisory agreement provides that the Adviser will pay substantially all expenses of the Fund, except for the fee payment under the Fund’s Investment Advisory Agreement, payments under the Fund’s Rule 12b-1 Distribution and Service Plan, brokerage expenses, acquired fund fees and expenses, taxes, interest (including borrowing costs), litigation expense and other non-routine or extraordinary expenses. Additionally, the Fund shall be responsible for its non-operating expenses (see the italicized items in the preceding sentence) and fees and expenses associated with the Fund’s securities lending program, if applicable.
**Other Expenses and Acquired Fund Fees and Expenses (“AFFE”) are estimated for the current fiscal year. The Fund’s investments in other funds requires the fund to report a total annual fund operating expense ratio in its prospectus fee table that accounts for both the expenses that a fund pays directly out of its assets (direct expenses), and the expense ratios of the underlying funds, including business development companies (BDCs), in which it invests, which are called AFFEs. AFFEs are indirect expenses. This disclosure is designed to provide investors with a better understanding of the actual costs of investing in a fund that invests in other funds. Accordingly, the prospectus for LBO discloses its AFFEs which are in the table above. However, because these fees are not borne directly by the Fund, they will not be reflected in the expense information in LBO’s financial statements. Information presented in the prospectus table will differ from financial highlights presented in LBO’s reports to shareholders, when available.
Fund Documents
NAV and Market Price
NAV is the sum of all assets less any liabilities, divided by the number of shares outstanding.
Historical Performance
Month-End Performance
Quarter-End Performance
Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so shares may be worth more or less when redeemed or sold. Current performance may be lower or higher than that quoted.
Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. YTD is year-to-date and ITD is inception-to-date.
Historical Premium / Discount
Fund Distributions
Fund Holdings
Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.