As of 6.30.2020
ERSHARES ENTREPRENEUR 30 ETF INVESTMENT STRATEGY> The fund tracks the ER30 Index. ER30 is a rules-based methodology that selects the 30 largest (market cap) publicly-traded Entrepreneurial companies. The companies are selected based on their entrepreneurial attributes as specified in the proprietary model. High value is placed on visionary leaders who are stewards of their companies and possess high economic and personal stakes. APPROACH> The firm utilizes a bottom-up, fundamental approach to identify publicly-traded companies that possess the 15 entrepreneurial attributes. Our extensive academic research and extended professional performance assert that companies possessing these characteristics have the potential to outperform “non - entrepreneurial” companies over time.
ENTR
1 Month 3 Month YTD
1 Year
ETF Inception
ENTR NAV Price
2.44% 24.97% 14.52% 21.03% 15.43% 2.72% 25.07% 14.95% 21.46% 15.45%
ENTR Market Price
Entrepreneur 30 Index Russell 1000 Growth
6.35% 4.35% 1.99% 1.82%
36.92% 24.12% 31.59% 19.84% 27.84% 9.81% 23.28% 17.01% 20.54% -3.08% 7.51% 9.14% 18.51% -8.43% -0.54% 6.04%
S&P 500 Index
Dow Jones Index
Performance quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Performance data current to the most recent month end may be obtained by calling 1-833-368-7383 or visiting ershares.com . NAV prices are used to calculate market price performance prior to the date when the Fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times.
Fund Information
Joel Shulman Ph.D., CFA Founder & CIO
Strategy AUM
116.39mm
Dr. Joel Shulman is the founder and managing director of EntrepreneurShares. His 30+ years of academic research led to the formation of our proprietary 15-factor investment model. Dr. Shulman is a leading academic in the field of Entrepreneurship at Babson College (ranked #1 for Entrepreneurship 18 consecutive years by U.S. News & World Report). Dr. Shulman holds a Ph.D. in Finance and is a CFA charter holder. He also earned an MPA from the JFK School of Government at Harvard University. He founded and sold The Shulman Review, a CFA test- prep company that trained over 12,000+ investment professionals in 110+ countries around the world.
Number of Holdings
31
Ticker Symbol
ENTR
CUSIP
293828802
Inception Date
11/7/2017
Gross Expense Ratio
0.49%
Rebalanced
Quarterly
Avg. Mkt. Cap.
247,253 mm
The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-833-3687-383 or by visiting our website www.ershares.com. Read it carefully before investing. Distributed by Foreside Fund Services, LLC. The ERShares Entrepreneur 30 ETF risks can include and are not limited to: Absence of Prior Active Market Risk, Index Risk, Index Tracking Risk, Indexing and Passive Investment Risk, New ETF Provider, Common Stock Risk, Market Risk, Concentration Risk, American Depositary Receipts, Early Closing Risk, Exchange Trade Fund Risk. The S&P 500 Total Return Index includes 500 leading companies and captures approximately 80% coverage of available market capitalization. Returns assume the reinvestments of all dividends. The Russell 1000 Growth Index is comprised of large and mid cap US equities that exhibit growth characteristics. The Dow Jones Index is comprised of the 30 largest companies listed on US stock exchanges. Index performance does not represent actual fund or portfolio performance and such performance does not reflect the actual investment experience of any investor. An investor cannot invest directly in an index. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in a portfolio invested in accordance with an index.
www.ershares.com
+1 (617) 279 0045
As of 6.30.2020
Top 10 Holdings Amazon.com Inc
ENTREPRENEURIAL LEADERS CAN CREATE FUNDAMENTAL VALUE
11.18%
Alphabet Inc
8.77%
• Visionary entrepreneurial leaders have economic and non-economic incentives to create value. • These leaders see far horizons and are resilient in tough times. • Their organizations keep costs lean, debt levels manageable, and expansion projects within reach. ENTREPRENEURIAL COMPANIES CAN OUTPERFORM THE COMPETITION • Our research asserts the entrepreneurially run companies achieve higher long-run growth rates. • Those companies emphasize motivated and transparent leadership and prioritize shareholders. • They focus on sustainable organic growth and operational efficiency. ENTREPRENEURIAL BEHAVIOR CAN TRANSLATE INTO SHAREHOLDER VALUE
Facebook Inc
7.54%
Netflix Inc
5.74%
NVIDIA Corp
4.55% 3.82%
Seattle Genetics Inc
Intercontinental Exchange Inc
3.26%
BlackRock Inc
3.23%
Regeneron Pharmaceuticals Inc Salesforce.com Inc
3.18%
3.17%
• This drives earnings growth, stock price appreciation, and above average employment growth.
Entrepreneurs by Sector Information Technology 27.70% Communication Services 23.65% Consumer Discretionary 16.57% Health Care 15.84% Financials 6.49% Industrials 3.78% Real Estate 0.00% Energy 0.00% Materials 0.00% Consumer Staples 0.00% Utilities 0.00%
Entrepreneurial leaders are the ones that create entrepreneurial companies and institute entrepreneurial behavior. Thus, leadership matters in a company. More information can be found in the Leadership Matters article by Joel Shulman. Publications: Leadership Matters: Crafting a Smart Beta Portfolio with a Founder-CEO Twist Source : Shulman, Joel M. “Leadership Matters: Crafting a Smart Beta Portfolio with a Founder- CEO Twist. ” The Journal of Index Investing, vol. 8, 2017, doi: https://entrepreneurshares.com/wp-content/themes/ers/inc/docs/Leadership.pdf Entrepreneurs Breed ESG-Rich Companies: Reap Exceptional Returns as Harvest Byproduct Source : Shulman, Joel M. “Entrepreneurs Breed ESG-Rich Companies: Reap Exceptional Returns as Harvest Byproduct. ” The Journal of Index Investing, vol. 9, 2019, doi: https://www.iijournalseprint.com/JII/EntrepreneurS/Spring19EntrepreneursBreedESTRichCom panies77q/index.html
Alpha compares the risk-adjusted performance of a portfolio to a benchmark index. A positive alpha means the portfolio has outperformed the index on a risk-adjusted basis. Beta is a measure of the volatility of a portfolio in comparison to a benchmark index. Less than one means the portfolio is less volatile than the index, while greater than one indicates more volatility than the index. Standard deviation measures historical volatility. Higher Standard Deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance by dividing the portfolio’s excess returns (returns above a "risk-free" rate such as a Treasury bill) by the standard deviation of those returns. The higher the ratio, the better the portfolio’s return per unit of risk. The Up Capture ratio is the statistical measure of an investment manager’s performance in up-markets. The Down Capture ratio is the statistical measure of an investment manager’s performance in down-markets. Information Ratio is a ratio of portfolio returns above the returns of a benchmark compared to the volatility of those returns. The P/E (or Price/Earnings) ratio is the ratio of a company’s share price to its earnings per share. Earnings before interest, tax, depreciation and amortization (EBITDA) is a measure of a company's operating performance.
www.ershares.com
+1 (617) 279 0045
As of 06.30.2020
ERSHARES NON_US SMALL CAP ETF INVESTMENT STRATEGY> The fund tracks the Entrepreneur Non-US Small Cap Index. The index is a rules-based methodology comprised of 50 Non-U.S. companies from around the world with market capitalizations between $300 million and $5 billion USD. The companies are selected based on their entrepreneurial attributes as specified in the proprietary model. High value is placed on visionary leaders who are stewards of their companies and possess high economic and personal stakes. APPROACH> The firm utilizes a bottom-up, fundamental approach to identify publicly-traded companies that possess the 15 entrepreneurial attributes.. Our extensive academic research and extended professional performance assert that companies possessing these characteristics have the potential to outperform “non - entrepreneurial” companies over time.
ERSX
1 Month 3 Month YTD
1 Year
ETF Inception
ERSX NAV Price
2.63% 39.58% -2.53% 1.55% 8.45%
ERSX Market Price
2.80% 38.63% -2.97% 1.17% 8.19%
Entrepreneur Non-US Small Cap Index
4.38% 45.74% 1.73% 7.76% 16.16%
FTSE Global ex-US Small Cap Index
3.70% 23.11% -13.39% -5.97% 4.04%
Performance quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Performance data current to the most recent month end may be obtained by calling 1- 833-368-7383 or visiting ershares.com. ETF shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. The market price used to calculate the Closing Market Price is the last trade as of the time that the Fund’s NAV is calculated. If you trade your shares at another time, your return may differ.
Fund Information
Joel Shulman Ph.D., CFA Founder & CIO
Strategy AUM
$26.76 mm
Dr. Joel Shulman is the founder and managing director of EntrepreneurShares. His 30+ years of academic research led to the formation of our proprietary 15-factor investment model. Dr. Shulman is a leading academic in the field of Entrepreneurship at Babson College (ranked #1 for Entrepreneurship 18 consecutive years by U.S. News & World Report). Dr. Shulman holds a Ph.D. in Finance and is a CFA charter holder. He also earned an MPA from the JFK School of Government at Harvard University. He founded and sold The Shulman Review, a CFA test- prep company that trained over 12,000+ investment professionals in 110+ countries around the world.
Number of Holdings
56
Ticker Symbol
ERSX
CUSIP
293828885
Inception Date
12/27/2018
Gross Expense Ratio
0.75%
Rebalanced
Quarterly
Avg. Mkt. Cap.
2,993 mm
The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-833-3687-383 or by visiting our website www.ershares.com. Read it carefully before investing. Distributed by Foreside Fund Services, LLC.
The ERShares Non-US Small Cap ETF risks can include and are not limited to: Absence of Prior Active Market Risk, Index Risk, Index Tracking Risk, Indexing and Passive Investment Risk, New ETF Provider, Common Stock Risk, Market Risk, Concentration Risk, American Depositary Receipts, Early Closing Risk, Exchange Trade Fund Risk.
Index performance does not represent actual fund or portfolio performance and such performance does not reflect the actual investment experience of any investor. An investor cannot invest directly in an index. In addition, the results actual investors might have achieved would have differed from those shown because of differences in the timing, amounts of their investments, and fees and expenses associated with an investment in a portfolio invested in accordance with an index.
www.ershares.com
+1 (617) 279 0045
As of 06.30.2020
Top 10 Holdings Afterpay Ltd
ENTREPRENEURIAL LEADERS CAN CREATE FUNDAMENTAL VALUE
3.87% 3.58% 3.53%
Sinch AB
Kogan.com Ltd Wix.com Ltd
• Visionary entrepreneurial leaders have economic and non-economic incentives to create value. • These leaders see far horizons and are resilient in tough times. • Their organizations keep costs lean, debt levels manageable, and expansion projects within reach. ENTREPRENEURIAL COMPANIES CAN OUTPERFORM THE COMPETITION • Our research asserts the entrepreneurially run companies achieve higher long-run growth rates. • Those companies emphasize motivated and transparent leadership and prioritize shareholders. • They focus on sustainable organic growth and operational efficiency. ENTREPRENEURIAL BEHAVIOR CAN TRANSLATE INTO SHAREHOLDER VALUE
3.00% Fevertree Drinks PLC 2.78% Noah Holdings Ltd 2.74% Spin Master Corp 2.68% GMO Payment Gateway Inc 2.57% Fancl Corp 2.45% Abcam PLC 2.39% Entrepreneurs by Sector Information Technology 29.01% Consumer Discretionary 19.27% Health Care 11.64% Industrials 10.38% Communication Services 7.70% Financials 6.94% Consumer Staples 5.70% Real Estate 2.92% Materials 1.59% Energy 1.44% Utilities 0.00%
• This drives earnings growth, stock price appreciation, and above average employment growth.
Alpha compares the risk-adjusted performance of a portfolio to a benchmark index. A positive alpha means the portfolio has outperformed the index on a risk-adjusted basis. Beta is a measure of the volatility of a portfolio in comparison to a benchmark index. Less than one means the portfolio is less volatile than the index, while greater than one indicates more volatility than the index. Standard deviation measures historical volatility. Higher Standard Deviation implies greater volatility. Sharpe Ratio measures risk-adjusted performance by dividing the portfolio’s excess returns (returns above a "risk-free" rate such as a Treasury bill) by the standard deviation of those returns. The higher the ratio, the better the portfolio’s return per unit of risk. The Up Capture ratio is the statistical measure of an investment manager’s performance in up-markets. The Down Capture ratio is the statistical measure of an investment manager’s performance in down-markets. Information Ratio is a ratio of portfolio returns above the returns of a benchmark compared to the volatility of those returns. The P/E (or Price/Earnings) ratio is the ratio of a company’s share price to its earnings per share. Earnings before interest, tax, depreciation and amortization (EBITDA) is a measure of a company's operating performance. Entrepreneurs Breed ESG-Rich Companies: Reap Exceptional Returns as Harvest Byproduct Source : Shulman, Joel M. “Entrepreneurs Breed ESG-Rich Companies: Reap Exceptional Returns as Harvest Byproduct. ” The Journal of Index Investing, vol. 9, 2019, doi: https://www.iijournalseprint.com/JII/EntrepreneurS/Spring19EntrepreneursBreedESTRichCom panies77q/index.html Entrepreneurial leaders are the ones that create entrepreneurial companies and institute entrepreneurial behavior. Thus, leadership matters in a company. More information can be found in the Leadership Matters article by Joel Shulman. Publications: Leadership Matters: Crafting a Smart Beta Portfolio with a Founder-CEO Twist Source : Shulman, Joel M. “Leadership Matters: Crafting a Smart Beta Portfolio with a Founder- CEO Twist. ” The Journal of Index Investing, vol. 8, 2017, doi: https://entrepreneurshares.com/wp-content/themes/ers/inc/docs/Leadership.pdf
Entrepreneurs by Country AUSTRALIA
17.42% 14.44% 12.85%
BRITAIN
JAPAN CHINA ISRAEL
8.46% 8.29% 6.57% 5.97% 3.86% 3.60% 2.32% 2.06% 1.95% 1.85% 1.79% 1.77% 1.59% 1.44% 0.37%
CANADA SWEDEN
UNITED STATES
HONG KONG
IRELAND
BERMUDA
SWITZERLAND
ARGENTINA THAILAND SINGAPORE CAMBODIA
FRANCE
www.ershares.com
+1 (617) 279 0045
CHILE
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