ClearShares OCIO ETF (Outsourced Chief Investment Officer)

The ClearShares OCIO ETF (the Fund) seeks to outperform a traditional 60/40 mix of global equity and fixed-income investments.

The Fund is an actively managed portfolio of ETFs. The portfolio may utilize actively managed ETFs when the Fund's management believes it advantageous.

Fund Details

Fund Inception 6/27/17
Ticker OCIO
Net Assets as of 10/17/2017 $104.26m
Primary Exchange NYSE Arca
CUSIP 26922A727
Fund Type Actively Managed
Investment Objective Balanced
Management Fee 0.75%
Custody Fee 0.00%
Acquired Fund Fee & Expenses 0.12%
Gross Expense Ratio 0.87%
Net Expense Ratio 0.67%*
Indicative Value OCIO.IV
Net Asset Value (NAV) OCIO.NV
Portfolio Managers:
Eric Blasberg, CFA
Jonathan Chesshire
Mark Hong, CFA
Kevin O'Connor, CFA
Distribution Annual
Benchmark 60% ACWI / 40% BbgBarc US Agg.
SEC Yield as of 09/30/2017 1.36

* Contractual fee waivers through 5/31/18. The net expense ratio is applicable to investors.

Fund Prices

NAV PRICE
Net Asset Value $26.07 Closing Price $26.09
Daily Change ($0.03) Daily Change $0.00
Daily Change (0.11)% Daily Change (0.00)%
Data as of 10/17/2017

Premium/Discount

NAV Mid-Point Premium/Discount
$26.07 $26.07 0.09%
Data as of 10/17/2017

Performance

Month End Returns as of 09/30/2017

Avg. Annualized
(%) 1 MO. 3 MO. 1 YR. 3 YR. SINCE INCEPTION
Fund NAV 1.11 3.48 3.48 N/A 3.03
Closing Price 1.36 3.39 3.39 N/A 3.19

Quarter End Returns as of 09/30/2017

Avg. Annualized
(%) 1 MO. 3 MO. 6 MO. 1 YR. SINCE INCEPTION
Fund NAV 1.11 3.48 N/A N/A 3.03
Closing Price 1.36 3.39 N/A N/A 3.19

The performance data quoted represents past performance. Performance does not guarentee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. 

Returns are average annualized except for periods less than one year.

Annualized return is the average return gained or lost by an investment each year over a given time period. ClearShares Funds' NAVs are calculated using prices as of 4:00 PM Eastern Time.

The closing market price is the Mid-Point between the Bid and Ask price as of the close of exchange. Since the Fund’s Shares typically do not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.

Asset Allocation

Data as of 09/30/2017

Top 10 Holdings

Full Holdings
Percentage Of
Net Assets
Name Identifier Shares Held Market Value ($)
4.84% VANGUARD INDEX FDS GROWTH ETF VUG 37,304 5,047,231.20
4.81% VANGUARD INDEX FDS VALUE ETF VTV 49,485 5,010,356.25
4.78% VANGUARD INDEX FDS TOTAL STK MKT VTI 37,878 4,981,335.78
4.77% ISHARES TR CORE MSCI EAFE IEFA 76,489 4,970,255.22
4.49% VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF VWO 104,198 4,680,574.16
4.39% ISHARES TR CORE S&P500 ETF IVV 17,782 4,573,708.22
4.38% VANGUARD INDEX FDS S&P 500 ETF SHS VOO 19,462 4,566,952.92
4.27% VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US VEU 83,020 4,454,853.20
4.26% VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF VEA 100,994 4,444,745.94
4.25% ISHARES TR CORE MSCI TOTAL IXUS 71,478 4,435,924.68
Data as of 10/18/2017 Holdings are subject to change.


Asset Allocation Risk. The Fund may favor an asset category or investment strategy that performs poorly relative to other asset categories and investment strategies for short or long periods of time.

Past performance is not indicative of future results. References to efforts to mitigate or “control” risk reflect an effort to address risk but do not mean that the portfolio risk can be completely controlled. All investment has risk, including the risk of loss of principal.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by clicking here (http://clear-shares.com/prospectus). Please read the prospectus carefully before you invest.

Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may be only be acquired or redeemed from the fund in creation units. Brokerage commissions will reduce returns. Additional risks include, but are not limited to investments in debt securities including high yield and mortgage and asset backed securities, foreign and emerging markets securities, REITs, MLPs, small-and mid-cap securities, and investment in other ETFs. The fund invests in other investment companies and bears its proportionate share of fees and expenses of other investment companies. Please refer to the prospectus for additional risks of investing in the fund.

Investment Company Risk. The risks of investing in investment companies, such as the Underlying Funds, typically reflect the risks of the types of instruments in which the investment companies invest. By investing in another investment company, the Fund becomes a shareholder of that investment company and bears its proportionate share of the fees and expenses of the other investment company. The Fund may be subject to statutory limits with respect to the amount it can invest in other ETFs, which may adversely affect the Fund’s ability to achieve its investment objective. Investments in ETFs are also subject to the following risks: (i) the market price of an ETF’s shares may trade above or below their net asset value (“NAV”); (ii) an active trading market for an ETF’s shares may not develop or be maintained; and (iii) trading of an ETF’s shares may be halted for a number of reasons.

Management Risk. The Fund is actively-managed and may not meet its investment objective based on the Adviser’s success or failure to implement investment strategies for the Fund.

New Fund Risk. The Fund is a recently organized, diversified management investment company with no operating history. As a result, prospective investors have no track record or history on which to base their  investment decision. Additionally, the Adviser has not previously managed a registered investment company, which may increase the risks associated with investments in the Fund.

Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index used as a benchmark, since they are often considered to represent the market's movement as a whole. The excess returns of a fund relative to the return of a benchmark index is the fund's alpha.

The MSCI ACWI Index is a market capitalization weighted index designed to provide a broad measure of equity-market performance throughout the world. The MSCI ACWI is maintained by Morgan Stanley Capital International, and is comprised of stocks from both developed and emerging markets. One cannot invest directly in an index.

The Bloomberg US Barclays Aggregate Bond Index is a market value-weighted index that tracks the daily price, coupon, pay-downs, and total return performance of fixed-rate, publicly placed, dollardenominated, and non- convertible investment grade debt issues with at least $250 million par amount outstanding and with at least one year to final maturity. One cannot invest directly in an index.

ClearShares LLC is the investment advisor to ClearShares OCIO ETF. The ClearShares OCIO ETF is distributed by Quasar Distributors, LLC.