The Funds' investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company. Please read it carefully before investing. A hard copy of the prospectus can be requested by calling 833.333.9383.

Investing involves risk. Principal loss is possible. As an ETF, the fund may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. The Fund is not actively managed and would not sell a security due to current or projected under performance unless that security is removed from the Index or is required upon a reconstitution of the Index. A portfolio concentrated in a single industry or country, may be subject to a higher degree of risk. The value of stocks of information technology companies are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition. The Fund is considered to be non-diversified, so it may invest more of its assets in the securities of a single issuer or a smaller number of issuers. Investments in foreign securities involve certain risks including risk of loss due to foreign currency fluctuations or to political or economic instability. This risk is magnified in emerging markets. Small and mid-cap companies are subject to greater and more unpredictable price changes than securities of large-cap companies.

The Defiance Next Gen Connectivity ETF is the first ETF to emphasize securities whose products and services are predominantly tied to the development of 5G networking and communication technologies. The fund does this by tracking The BlueStar 5G Communications Index. The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index.

The possible applications of 5G technologies are only in the exploration stages, and the possibility of returns is uncertain and may not be realized in the near future. 

ETF.com Award Methodology: Winners are selected in a three-part process designed to leverage the insights and opinions of leaders throughout the ETF industry.

Step 1 The awards process began with open nominations, which started Dec. 3, 2018, and closed Jan. 3, 2019.

Step 2 Following the open nominations process, the ETF.com Awards Nominating committee*—made up of senior leaders at ETF.com, Inside ETFs and the FactSet ETF team (whose data powers the ETF. com website and fund reports)—voted to select up to five finalists in each category. Votes were cast on a majority basis, and ties broken where possible with head-to-head runoff votes. If ties could not be broken, more than five finalists were allowed. The nomination voting concluded Jan. 14, 2019.

Step 3 Winners among these finalists were selected by a majority vote of the ETF.com Awards Selection committee**, a group of independent ETF experts from throughout the ETF community. Committee members recused themselves from voting in any category in which they or their firms appeared as finalists. Ties were decided where possible with head-to-head runoff votes.

*2018 Nominating Committee: Matt Hougan, Chairman, Inside ETFs (Chair), Paul Britt, Senior Analyst, FactSet, Elisabeth Kashner, Director of ETF Research, FactSet, Dave Nadig, Managing Director, ETF.com, Drew Voros, Editor-in-Chief, ETF.com

**2018 Awards Selection Committee: Kim Arthur, Main Management, Eric Balchunas, Bloomberg Intelligence, en Blaisdell, US Trust, Rob Glownia, RiverFront, Tom Lydon, ETFtrends.com, Phil Mackintosh, NASDAQ, Tyler Mordy, Forstrong Global Asset Management, Todd Rosenbluth, CFRA, Jim Wiandt, Industry Expert.

It is not possible to invest directly in an index.

Click here for the top 10 holdings

*Commissions may be charged on trades.

The Defiance ETFs are distributed by Quasar Distributors, LLC.