eVestment Report - ENTIX - July, 2025

Capital Impact : ERShares Global Strategy

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Analysis

Calendar Year Returns

Risk Analysis

50

Capital Impact: ERShares Global Strategy

Statistic

MSCI World-GD

YTD

22.57%

11.19%

1 Year Return

43.46%

16.22%

25

3 Year Return

22.17%

16.38%

5 Year Return

8.99%

14.31%

0

Cumulative Return

285.19%

382.93%

Standard Deviation

18.10%

14.31%

Sharpe Ratio (FTSE 3 Mo. T-Bill )

0.45

0.69

-25

Growth of $1000

$3851.92

$4829.31

Omega Ratio (1%)

0.94

0.97

Num of Positive Periods

106

116

-50

YTD 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Num of Negative Periods

70

60

Best Period

16.30%

12.83%

ERShares Global Strategy

MSCI World-GD

eVestment Global All Cap Core Equity

Background Universe:

Performance Statistics - All Market

Tracking Err

Excess Rtn

Info Ratio

Bench Rtn

Bat Avg

Std Dev

Bench Std Dev

Benchmark

Alpha

Beta

R^2

Returns

MSCI World-GD

-2.12%

1.10

0.76

9.04%

-1.70%

-0.19

9.63%

11.33%

0.48

18.10%

14.31%

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Analysis

Historical Performance - Monthly Returns

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Year

2025

8.29%

-5.25%

-8.98%

4.05%

11.31%

8.39%

4.55%

---

---

---

---

---

22.57%

2024

-0.18%

10.15%

4.70%

-4.15%

1.30%

1.91%

0.46%

1.97%

5.23%

-1.74%

16.30%

-4.55%

33.94%

2023

9.34%

-2.28%

4.06%

-0.27%

0.17%

4.81%

5.16%

-4.77%

-5.77%

-4.84%

8.40%

9.23%

23.78%

2022

-11.45%

-2.43%

-1.93%

-10.68%

-2.10%

-7.38%

7.88%

-4.13%

-9.63%

3.74%

5.82%

-5.65%

-33.57%

2021

8.80%

0.67%

-9.31%

3.55%

-3.62%

6.39%

-4.81%

2.99%

-7.48%

4.97%

-7.10%

-2.19%

-8.75%

2020

-0.49%

-4.95%

-14.74%

15.77%

6.00%

3.44%

8.32%

7.90%

-1.73%

-1.14%

14.66%

3.87%

38.43%

2019

10.56%

4.02%

0.85%

2.99%

-5.05%

4.92%

0.32%

-2.15%

-0.06%

2.33%

4.61%

2.14%

27.64%

2018

6.19%

-3.38%

-0.44%

-0.45%

3.46%

-0.43%

2.43%

1.88%

-0.66%

-11.40%

2.10%

-9.40%

-11.00%

2017

5.65%

1.19%

0.22%

2.12%

3.51%

1.45%

3.28%

0.86%

1.31%

2.26%

2.09%

2.80%

30.13%

2016

-6.06%

-0.73%

7.96%

1.44%

0.84%

-2.15%

6.44%

0.00%

0.32%

-2.38%

1.71%

1.84%

8.79%

2015

-1.47%

6.24%

-0.08%

-0.08%

1.91%

-0.89%

0.82%

-5.45%

-3.01%

4.97%

1.18%

-1.72%

1.87%

2014

-3.40%

5.40%

-2.00%

-3.41%

0.78%

2.65%

-2.81%

2.73%

-3.95%

2.37%

0.85%

-0.97%

-2.24%

2013

4.70%

0.18%

2.11%

1.12%

2.38%

-1.75%

5.41%

-1.12%

6.01%

2.14%

2.10%

2.43%

28.58%

2012

8.63%

5.52%

0.37%

-0.91%

-8.77%

2.73%

0.49%

3.63%

2.37%

-2.40%

0.85%

2.64%

15.07%

2011

0.76%

4.78%

2.33%

3.59%

-1.86%

-3.27%

-2.76%

-7.87%

-11.62%

12.13%

-3.81%

-0.96%

-10.14%

2010

---

---

---

---

---

---

---

---

---

---

---

6.09%

6.09%

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Charts

Growth of $1,000

Drawdown

0.0%

4k

-20.0%

2k

-40.0%

0k

-60.0%

2012

2014

2016

2018

2020

2022

2024

2012

2014

2016

2018

2020

2022

2024

ERShares Global Strategy

MSCI World-GD

ERShares Global Strategy

MSCI World-GD

Distribution of Monthly Returns

Standard Deviation - One Year Rolling

30%

40

20%

20

10%

0

0%

2012

2014

2016

2018

2020

2022

2024

ERShares Global Strategy

MSCI World-GD

ERShares Global Strategy

MSCI World-GD

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Peer Analysis

Background Universe: Global All Cap Core Equity

25

20

15

10

5

0

-5

-10

Excess Returns

Returns

Standard Deviation

Ann. Alpha

Tracking Error

ERShares Global Strategy

MSCI World-GD

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Peer Analysis

Background Universe: Global All Cap Core Equity displaying 115 peers

16%

14%

12%

10%

8%

6%

4%

2%

10%

12%

14%

16%

18%

20%

22%

24%

26%

28%

30%

Standard Deviation

eVestment Global All Cap Core Equity

ERShares Global Strategy

MSCI World-GD

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Peer Analysis

Background Universe: Global All Cap Core Equity

50

40

30

20

10

0

-10

-20

-30

-40

YTD

2024

2023

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

ERShares Global Strategy

MSCI World-GD

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Peer Analysis

Background Universe: Global All Cap Core Equity

100

95

90

85

80

75

70

65

60

55

Q3 2024

Q4 2024

Q1 2025

Q2 2025

ERShares Global Strategy

Vehicle Type: USA - PF - SEC-Registered 1940 Act Mutual Fund - ERShares Global Fund - Net of Fees. Displayed in US Dollar (USD). Data frequency: Monthly

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

Capital Impact

Dec 2010 - Jul 2025

ERShares Global Strategy

Appendix

Date Range

Universe

US Dollar Currency

Frequency

Risk-Free Index

12/2010-07/2025

Global All Cap Core Equity

Monthly

FTSE 3-Month T-Bill

Products & Benchmarks

Firm

Product

Data Source

Vehicle

Reporting Method Start

End

Capital Impact

ERShares Global Strategy

IM

ERShares Global Fund

Net

12/2010

07/2025

MSCI Index

MSCI World-GD

IM

---

Index

01/1970

07/2025

Abbreviations & Definitions

RM - Reporting Method GF - Gross of Fees

SA - Separate/Segregated Account - This vehicle is comprised of an account or a composite of several accounts where the investor directly owns the securities instead of owning a share in a pool of securities. CF - Commingled Fund/Co-ownership - This vehicle is comprised of several accounts that are blended together, like mutual funds. Fees are generally lower for commingled accounts compared to mutual funds, and the minimum required investment is much higher. PF - Fund (Pooled/Mutual) - This vehicle is comprised of a pool of funds collected from many investors for investing in securities such as stocks, bonds, money market instruments, and similar assets. ETF - Exchange Traded Fund - This vehicle is comprised of an exchange traded fund, in which shares are made up of a basket of assets like a mutual fund but trade like a common stock on a stock exchange. LIF - Life Policy - An open-ended investment or insurance contract made available through a life insurance company. Converted - Manager performance values converted from base currency using Spot Rate.

NF - Net of Fees VT - Vehicle Type IX - Index IRD - Interest Rate Differential SR - Spot Rate IM - Input by Manager

eVestment Alliance, LLC and its affiliated entities(collectively “Nasdaq eVestment”) collect information directly from investment management firms and other sources believed to be reliable, however, Nasdaq eVestment does not guarantee or warrant the accuracy, timeliness, or completeness of the information provided and is not responsible for any errors or omissions. Performance results may be provided with additional disclosures available on Nasdaq eVestment’s systems and other important considerations such as fees that may be applicable. Not for general distribution and limited distribution may only be made pursuant to client’s agreement terms. * All categories not necessarily included, Totals may not equal 100%. Copyright © Nasdaq. All Rights Reserved.

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