1. In addition to 1,254 credit company engagements held. Data as of December 31, 2022.
All information is as of December 31, 2023, unless otherwise indicated.
All ETF products are subject to risk, including possible loss of principal. Unlike mutual funds, ETF shares are purchased and sold in secondary market transactions at negotiated market prices rather than at net asset value (“NAV”) and as such ETFs may trade at a premium or discount to their NAV. As a result, shareholders may pay more than NAV when purchasing shares and receive less than NAV when selling shares. ETF shares may only be redeemed at NAV by authorized participants in large creation units. There can be no guarantee that an active trading market for shares will develop or be maintained or that the ETF’s shares will continue to be listed. The trading of shares may incur brokerage commissions. ETFs have a limited number of Authorized Participants. To the extent they exit the business or are otherwise unable to proceed in creation and redemption transactions and no other Authorized Participant is able to step forward to create or redeem, shares may be more likely to trade at a premium or discount to NAV and possible face trading halts or delisting. Unexpected episodes of illiquidity, including due to market factors, instrument or issuer-specific factors and/or unanticipated outflows, could have a significant negative impact on the ETF’s NAV, liquidity, and brokerage costs. To the extent the ETF’s investments trade in markets that are closed when the ETF is open, premiums or discounts to NAV may develop in share prices.