Vident Financial
Index Repurposing Announcement

Effective at the close of business on January 6, 2016, the funds will begin tracking the following indices: Vident Core International Equity Index (VIEQX), Vident Core U.S. Stock Index (VCUSX), and Vident Core U.S. Bond Index (VUBDX). Each new index continues to employ Vident’s fundamental principles-based investment framework, but each provides material enhancements over the existing indices.

The Vident International Equity ETF’s underlying index, Vident International Equity Index (VIDIX), will be replaced with the Vident Core International Equity Index (VIEQX) and effective January 6, 2016 Vident International Equity Fund (VIDI) will begin tracking VIEQX. The new index (VIEQX), seeks to enhance principle expression through country allocation and stock selection. It aims to provide investors with a well-diversified set of global equities exposures across countries, regions and stocks, emphasizing countries with more favorable conditions for investment as well as economic and financial market resilience. At the individual stock level, the new index also seeks to enhance investors’ stock exposures, systematically selecting higher quality stocks with more favorable valuations and with a confirming price trend. The index is designed to be fully investable and fully replicable, with explicit consideration given to turnover, trading costs and liquidity.

The Vident Core U.S. Equity ETF’s underlying index, Vident Core U.S. Equity Index (VIUSX), will be replaced with the Vident Core U.S. Stock Index (VCUSX) and effective January 6, 2016 the Vident Core U.S. Equity Fund (VUSE) will begin tracking VCUSX. The new index (VCUSX), seeks to enhance principle expression through improved stock selection. It achieves this by systematically selecting higher quality stocks with more favorable valuations and with a confirming price trend. The index is designed to be fully investable and fully replicable, with explicit additional consideration given to turnover, trading costs and liquidity.

The Vident Core Bond Strategy ETF’s underlying index, Vident Core Bond Strategy Index (VBNDX), will be replaced with the Vident Core U.S. Bond Index (VUBDX) and effective January 6, 2016 the Vident Core U.S. Bond Strategy Fund (VBND) will begin tracking VUBDX.


Disclosure:

The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company and may be obtained by calling 1-800-617-0004.

Investments involve risk. Principal loss is possible. The Funds have the same risks as the underlying securities traded on the exchange throughout the day at market price. Redemptions are limited and often commissions are charged on each trade. VIDI is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. A fund that concentrates its investments in the securities of a particular industry or geographic area may be more volatile than a fund that invests in a broader range of industries. VIDI and VBND may invest in illiquid or thinly traded securities which involve additional risks such as limited liquidity and greater volatility. VBND may make investments in debt securities. The Fund's investments in high yield securities expose it to a substantial degree of credit risk. These investments are considered speculative under traditional investment standards. Debt issuers and other counterparties may not honor their obligations or may have their debt downgraded by ratings agencies. An increase in interest rates may cause the value of fixed-income securities held by the Fund to decline. During periods of rising interest rates, certain debt obligations will be paid off substantially more slowly than originally anticipated and the value of those securities may fall sharply, resulting in a decline in the Fund's income and potentially in the value of the Fund's investments. VBND may also invest in asset backed and mortgage backed securities which include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The performance of the funds may diverge from that of the Index. Because the Funds employ a representative sampling strategy and may also invest up to 20% of its assets in securities that are not included in the Index, the Funds may experience tracking error to a greater extent than a fund that seeks to replicate an index. The Funds are not actively managed and may be affected by a general decline in market segments related to the index. The Funds invest in securities included in, or representative of securities included in, the index, regardless of their investment merits. Small and medium-capitalization companies tend to have more limited liquidity and greater price volatility than large-capitalization companies. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

The Vident Core International Equity Index (Bloomberg Symbol: VIEQX) is a strategy seeking to balance risk across developed and emerging countries and emphasize those with favorable conditions for growth. The Vident Core US Stock Index (Bloomberg Symbol: VCUSX) is a strategy which seeks to apply principles-based reasoning, expressed through innovative risk design to address the risks and opportunities of US equity investing. It is not possible to invest directly in an index. The Vident Core US Bond Index (Bloomberg Symbol: VUBDX) is a strategy which seeks to utilize time-tested principles to improve corporate bond exposures by screening for companies with strong leadership, governance and creditworthiness factors. You cannot invest directly in an Index.

The Vident International Equity Index (Bloomberg Symbol: VIDIX) is a strategy seeking to balance risk across developed and emerging countries and emphasize those with favorable conditions for growth. The Vident Core US Equity Index (Bloomberg Symbol: VIUSX) is a strategy which seeks to apply principles-based reasoning, expressed through innovative risk design to address the risks and opportunities of US equity investing. It is not possible to invest directly in an index. The Vident Core US Bond Strategy Index (Bloomberg Symbol: VBNDX) is a strategy which seeks to utilize time-tested principles to improve corporate bond exposures by screening for companies with strong leadership, governance and creditworthiness factors. You cannot invest directly in an Index.

Diversification does not assure a profit or protect against loss in a declining market.

The Vident Funds are distributed by Quasar Distributors, LLC

A systematic & rules-based investment process

Applying timeless wisdom & established principles

A distinct philosophy & rigorous global research

Nav History

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01/18/2019 24.2100
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12/31/2018 22.6600
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01/25/2018 30.1000
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12/29/2017 28.1100
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01/31/2017 22.8000
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01/04/2017 21.9100
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12/30/2016 21.6600
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12/27/2016 21.4300
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12/22/2016 21.6300
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12/13/2016 22.1800
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09/20/2016 21.6000
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09/07/2016 22.2000
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09/02/2016 21.7100
09/01/2016 21.5900
08/31/2016 21.6000
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08/26/2016 21.7700
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08/19/2016 21.9000
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08/03/2016 21.1000
08/02/2016 21.2800
08/01/2016 21.4700
07/29/2016 21.3600
07/28/2016 21.2600
07/27/2016 21.2300
07/26/2016 21.0800
07/25/2016 21.0200
07/22/2016 20.9900
07/21/2016 21.0500
07/20/2016 21.0600
07/19/2016 21.0600
07/18/2016 21.2000
07/15/2016 21.2400
07/14/2016 21.2800
07/13/2016 21.0900
07/12/2016 21.0100
07/11/2016 20.7200
07/08/2016 20.4100
07/07/2016 20.3300
07/06/2016 20.2200
07/05/2016 20.4100
07/01/2016 20.6700
06/30/2016 20.4900
06/29/2016 20.2900
06/28/2016 19.9100
06/27/2016 19.6200
06/24/2016 19.9700
06/23/2016 21.0500
06/22/2016 20.7800
06/21/2016 20.7000
06/20/2016 20.6600
06/17/2016 20.2700
06/16/2016 20.0700
06/15/2016 20.2800
06/14/2016 20.1500
06/13/2016 20.5500
06/10/2016 20.8300
06/09/2016 21.2100
06/08/2016 21.4200
06/07/2016 21.3500
06/06/2016 21.1300
06/03/2016 20.9800
06/02/2016 20.7100
06/01/2016 20.7800
05/31/2016 20.8000
05/27/2016 20.7800
05/26/2016 20.7700
05/25/2016 20.6700
05/24/2016 20.4300
05/23/2016 20.3800
05/20/2016 20.3100
05/19/2016 20.2000
05/18/2016 20.4200
05/17/2016 20.5900
05/16/2016 20.5000
05/13/2016 20.4600
05/12/2016 20.6400
05/11/2016 20.6900
05/10/2016 20.6600
05/09/2016 20.5600
05/06/2016 20.6500
05/05/2016 20.7300
05/04/2016 20.8100
05/03/2016 21.1000
05/02/2016 21.4700
04/29/2016 21.4500
04/28/2016 21.4800
04/27/2016 21.4100
04/26/2016 21.4300
04/25/2016 21.3700
04/22/2016 21.4900
04/21/2016 21.6500
04/20/2016 21.6800
04/19/2016 21.7600
04/18/2016 21.4900
04/15/2016 21.4900
04/14/2016 21.5000
04/13/2016 21.4400
04/12/2016 21.2000
04/11/2016 21.1200
04/08/2016 20.9400
04/07/2016 20.7200
04/06/2016 20.8300
04/05/2016 20.7800
04/04/2016 21.1200
04/01/2016 21.1100
03/31/2016 21.3600
03/30/2016 21.3400
03/29/2016 20.9600
03/28/2016 20.8500
03/24/2016 20.8300
03/23/2016 20.9900
03/22/2016 21.1500
03/21/2016 21.1300
03/18/2016 21.1700
03/17/2016 21.1400
03/16/2016 20.7500
03/15/2016 20.5100
03/14/2016 20.8100
03/11/2016 20.7500
03/10/2016 20.4200
03/09/2016 20.4100
03/08/2016 20.3400
03/07/2016 20.5600
03/04/2016 20.5000
03/03/2016 20.3200
03/02/2016 20.1000
03/01/2016 19.8900
02/29/2016 19.6300
02/26/2016 19.5800
02/25/2016 19.4800
02/24/2016 19.3200
02/23/2016 19.5200
02/22/2016 19.6400
02/19/2016 19.4300
02/18/2016 19.4700
02/17/2016 19.2800
02/16/2016 19.0000
02/12/2016 18.5800
02/11/2016 18.5500
02/10/2016 18.9000
02/09/2016 18.8400
02/08/2016 19.0200
02/05/2016 19.2500
02/04/2016 19.3300
02/03/2016 19.0700
02/02/2016 19.0700
02/01/2016 19.3600
01/29/2016 19.3000
01/28/2016 19.0100
01/27/2016 18.9200
01/26/2016 18.8000
01/25/2016 18.7600
01/22/2016 18.7300
01/21/2016 18.2600
01/20/2016 18.1900
01/19/2016 18.6600
01/15/2016 18.5300
01/14/2016 18.8500
01/13/2016 19.0600
01/12/2016 18.9100
01/11/2016 18.8600
01/08/2016 19.1000
01/07/2016 19.2200
01/06/2016 19.6100
01/05/2016 19.8100
01/04/2016 19.8300
12/31/2015 20.3600
12/30/2015 20.4100
12/29/2015 20.5100
12/28/2015 20.6000
12/24/2015 20.6400
12/23/2015 20.5800
12/22/2015 20.3400
12/21/2015 20.2500
12/18/2015 20.2300
12/16/2015 20.2700
12/15/2015 20.0400
12/14/2015 19.8100
12/11/2015 20.0000
12/10/2015 20.2800
12/09/2015 20.4100
12/08/2015 20.4100
12/07/2015 20.6700
12/03/2015 20.9200
12/02/2015 20.9000
12/01/2015 21.0000
11/30/2015 20.7500
11/27/2015 20.9000
11/25/2015 21.0500
11/24/2015 21.0400
11/23/2015 21.1000
11/20/2015 21.2100
11/18/2015 20.8700
11/17/2015 20.8800
11/16/2015 20.6800
11/13/2015 20.7900
11/12/2015 21.0200
11/11/2015 21.1100
11/10/2015 21.0600
11/09/2015 21.1900
11/06/2015 21.3700
11/05/2015 21.5700
11/04/2015 21.6600
11/03/2015 21.6200
11/02/2015 21.4600
10/30/2015 21.4000
10/29/2015 21.3700
10/28/2015 21.5400
10/27/2015 21.6200
10/26/2015 21.7500
10/23/2015 21.7200
10/22/2015 21.5100
10/21/2015 21.4500
10/20/2015 21.5200
10/19/2015 21.5500
10/16/2015 21.6000
10/15/2015 21.5800
10/14/2015 21.3200
10/13/2015 21.2900
10/12/2015 21.5600
10/09/2015 21.5200
10/08/2015 21.2200
10/07/2015 21.1600
10/06/2015 20.8500
10/05/2015 20.6100
10/02/2015 20.1400
10/01/2015 20.0300
09/30/2015 19.9700
09/29/2015 19.6500
09/28/2015 19.7600
09/25/2015 20.0300
09/24/2015 19.9300
09/23/2015 20.0300
09/22/2015 20.3000
09/21/2015 20.6700
09/18/2015 20.8400
09/17/2015 21.0600
09/16/2015 20.8800
09/15/2015 20.5700
09/14/2015 20.5700
09/11/2015 20.5100
09/10/2015 20.5600
09/09/2015 20.6200
09/08/2015 20.3100
09/04/2015 20.1800
09/03/2015 20.5100
09/02/2015 20.3500
09/01/2015 20.4100
08/28/2015 20.8300
08/27/2015 20.6800
08/26/2015 20.1000
08/25/2015 20.1800
08/24/2015 19.8700
08/21/2015 20.7800
08/20/2015 21.1600
08/19/2015 21.4200
08/18/2015 21.5500
08/17/2015 21.6800
08/14/2015 21.8100
08/13/2015 21.9200
08/12/2015 21.8700
08/11/2015 22.1900
08/10/2015 22.5000
08/07/2015 22.3600
08/06/2015 22.4300
08/05/2015 22.5600
08/04/2015 22.5000
08/03/2015 22.5500
07/31/2015 22.6400
07/30/2015 22.4700
07/29/2015 22.5300
07/28/2015 22.4500
07/27/2015 22.4200
07/24/2015 22.7000
07/23/2015 22.9200
07/22/2015 22.9600
07/21/2015 23.1400
07/20/2015 23.0800
07/17/2015 23.1400
07/16/2015 23.1800
07/15/2015 23.0900
07/14/2015 23.1200
07/13/2015 23.0400
07/10/2015 22.8700
07/09/2015 22.5300
07/08/2015 22.2900
07/07/2015 22.5600
07/06/2015 22.7800
07/02/2015 23.2300
07/01/2015 23.1900
06/30/2015 23.1500
06/29/2015 23.1200
06/26/2015 23.5500
06/25/2015 23.6500
06/24/2015 23.7400
06/23/2015 23.7600
06/22/2015 23.7500
06/19/2015 23.4400
06/18/2015 23.4900
06/17/2015 23.3900
06/16/2015 23.3000
06/15/2015 23.5200
06/12/2015 23.7300
06/11/2015 23.8000
06/10/2015 23.7600
06/09/2015 23.4800
06/08/2015 23.6300
06/05/2015 23.6700
06/04/2015 23.9000
06/03/2015 24.0600
06/02/2015 24.0000
06/01/2015 23.9300
05/29/2015 24.0500
05/28/2015 24.1200
05/27/2015 24.2700
05/26/2015 24.2500
05/22/2015 24.6300
05/21/2015 24.7000
05/20/2015 24.7000
05/19/2015 24.7700
05/18/2015 24.8300
05/15/2015 24.9000
05/14/2015 24.7900
05/13/2015 24.6700
05/12/2015 24.5100
05/11/2015 24.5700
05/08/2015 24.6300
05/07/2015 24.3700
05/06/2015 24.5900
05/05/2015 24.6000
05/04/2015 24.6600
05/01/2015 24.5900
04/30/2015 24.6500
04/29/2015 24.8000
04/28/2015 24.9600
04/27/2015 24.9800
04/24/2015 24.8500
04/23/2015 24.6800
04/22/2015 24.5600
04/21/2015 24.5600
04/20/2015 24.4100
04/17/2015 24.5300
04/16/2015 24.7300
04/15/2015 24.5200
04/14/2015 24.4000
04/13/2015 24.3700
04/10/2015 24.3800
04/09/2015 24.3600
04/08/2015 24.2900
04/07/2015 24.1900
04/06/2015 24.1200
04/02/2015 23.9400
04/01/2015 23.7100
03/31/2015 23.5900
03/30/2015 23.6200
03/27/2015 23.5200
03/26/2015 23.5300
03/25/2015 23.7400
03/24/2015 23.8600
03/23/2015 23.7800
03/20/2015 23.6000
03/19/2015 23.3500
03/18/2015 23.4300
03/17/2015 23.0700
03/16/2015 23.0300
03/13/2015 22.9000
03/12/2015 23.0900
03/11/2015 22.9100
03/10/2015 22.9500
03/09/2015 23.3000
03/06/2015 23.5100
03/05/2015 23.6800
03/04/2015 23.7100
03/03/2015 23.8200
03/02/2015 23.8800
02/27/2015 23.9400
02/26/2015 23.9400
02/25/2015 24.0000
02/24/2015 23.9300
02/23/2015 23.8400
02/20/2015 23.8700
02/19/2015 23.8600
02/13/2015 23.8300
02/12/2015 23.6100
02/11/2015 23.3300
02/10/2015 23.4400
02/09/2015 23.4700
02/06/2015 23.5700
02/05/2015 23.6800
02/04/2015 23.6000
02/03/2015 23.5800
02/02/2015 23.3000
01/30/2015 23.2000
01/29/2015 23.3800
01/28/2015 23.5500
01/27/2015 23.6900
01/26/2015 23.6200
01/23/2015 23.5800
01/22/2015 23.4200
01/21/2015 23.3100
01/20/2015 23.0700
01/16/2015 23.0200
01/15/2015 23.0200
01/14/2015 22.8900
01/13/2015 23.0400
01/09/2015 23.0000
01/08/2015 23.0100
01/07/2015 22.6500
01/06/2015 22.5600
01/05/2015 22.7600
12/31/2014 23.2900
12/30/2014 23.2900
12/29/2014 23.3500
12/26/2014 23.2800
12/24/2014 23.2800
12/23/2014 23.2600
12/22/2014 23.3100
12/19/2014 23.1400
12/18/2014 23.0300
12/17/2014 22.5900
12/16/2014 22.5800
12/15/2014 22.6500
12/12/2014 23.0700
12/11/2014 23.3000
12/10/2014 23.5000
12/09/2014 23.5900
12/08/2014 23.8200
12/05/2014 23.9400
12/04/2014 23.9600
12/03/2014 24.0000
12/02/2014 23.9900
12/01/2014 24.0300
11/28/2014 24.2500
11/26/2014 24.4400
11/25/2014 24.3800
11/24/2014 24.3600
11/21/2014 24.3000
11/20/2014 24.1000
11/19/2014 24.1300
11/18/2014 24.1400
11/17/2014 23.9400
11/14/2014 24.0300
11/13/2014 23.9800
11/12/2014 23.9800
11/11/2014 24.0600
11/10/2014 23.9800
11/07/2014 23.9200
11/06/2014 23.9000
11/05/2014 24.0600
11/04/2014 24.1200
11/03/2014 24.1700
10/31/2014 24.3300
10/30/2014 24.1200
10/29/2014 24.0300
10/28/2014 24.0200
10/27/2014 23.7600
10/24/2014 23.8000
10/23/2014 23.7300
10/22/2014 23.7200
10/21/2014 23.6500
10/20/2014 23.5200
10/17/2014 23.4000
10/16/2014 23.1700
10/15/2014 23.3200
10/14/2014 23.4600
10/13/2014 23.5200
10/10/2014 23.5100
10/08/2014 23.9500
10/07/2014 24.0400
10/06/2014 24.1500
10/03/2014 23.9300
10/02/2014 23.9300
10/01/2014 24.1300
09/30/2014 24.3000
09/29/2014 24.2900
09/26/2014 24.4700
09/25/2014 24.5200
09/24/2014 24.7500
09/23/2014 24.7200
09/22/2014 24.8900
09/19/2014 25.0600
09/18/2014 25.1300
09/17/2014 25.0400
09/16/2014 25.0500
09/15/2014 25.2400
09/12/2014 25.3700
09/11/2014 25.4500
09/10/2014 25.5600
09/09/2014 25.6900
09/08/2014 25.8300
09/05/2014 25.9400
09/04/2014 25.9300
09/03/2014 26.0100
09/02/2014 25.7500
08/29/2014 25.7300
08/28/2014 25.7500
08/27/2014 25.9100
08/26/2014 25.7700
08/25/2014 25.7200
08/22/2014 25.6500
08/21/2014 25.7000
08/20/2014 25.6100
08/19/2014 25.6600
08/18/2014 25.5800
08/15/2014 25.5100
08/14/2014 25.4900
08/13/2014 25.3900
08/12/2014 25.2400
08/11/2014 25.2500
08/08/2014 24.9800
08/07/2014 25.0400
08/06/2014 25.1700
08/05/2014 25.3000
08/04/2014 25.4100
08/01/2014 25.3400
07/31/2014 25.4300
07/30/2014 25.7000
07/29/2014 25.8000
07/28/2014 25.8300
07/25/2014 25.8400
07/24/2014 25.9100
07/23/2014 25.8700
07/22/2014 25.7800
07/21/2014 25.6200
07/18/2014 25.6100
07/17/2014 25.5600
07/16/2014 25.7200
07/15/2014 25.6100
07/14/2014 25.6700
07/11/2014 25.5300
07/10/2014 25.5600
07/09/2014 25.6700
07/08/2014 25.6600
07/07/2014 25.7300
07/03/2014 25.7400
07/02/2014 25.6800
07/01/2014 25.5800
06/30/2014 25.5000
06/27/2014 25.4200
06/26/2014 25.3900
06/25/2014 25.3400
06/24/2014 25.4200
06/23/2014 25.4100
06/20/2014 25.4700
06/19/2014 25.5100
06/18/2014 25.4200
06/17/2014 25.3300
06/16/2014 25.6300
06/13/2014 25.7100
06/12/2014 25.8100
06/11/2014 25.7700
06/10/2014 25.8500
06/09/2014 25.7700
06/06/2014 25.7300
06/05/2014 25.5600
06/04/2014 25.3800
06/03/2014 25.4400
06/02/2014 25.3700
05/30/2014 25.3300
05/29/2014 25.4400
05/28/2014 25.4000
05/27/2014 25.3700
05/23/2014 25.3900
05/22/2014 25.3500
05/21/2014 25.2100
05/20/2014 25.1400
05/19/2014 25.2700
05/16/2014 25.2200
05/15/2014 25.1600
05/14/2014 25.3300
05/13/2014 25.1900
05/12/2014 25.1400
05/09/2014 24.9900
05/08/2014 25.0100
05/07/2014 24.9200
05/05/2014 24.8700
05/02/2014 24.9500
05/01/2014 24.8700
04/30/2014 24.8500
04/29/2014 24.7400
04/25/2014 24.5800
04/24/2014 24.7700
04/23/2014 24.7500
04/22/2014 24.8100
04/21/2014 24.7000
04/17/2014 24.7000
04/16/2014 24.5900
04/15/2014 24.4300
04/14/2014 24.6100
04/11/2014 24.6300
04/10/2014 24.7800
04/09/2014 24.8200
04/08/2014 24.7000
04/07/2014 24.6200
04/04/2014 24.6600
04/03/2014 24.6000
04/02/2014 24.6600
04/01/2014 24.6400
03/31/2014 24.4700
03/28/2014 24.2800
03/27/2014 24.0800
03/26/2014 24.0000
03/25/2014 23.8300
03/24/2014 23.6700
03/21/2014 23.6200
03/20/2014 23.6100
03/19/2014 23.7300
03/18/2014 23.8900
03/17/2014 23.8000
03/14/2014 23.6200
03/13/2014 23.7100
03/12/2014 23.8300
03/11/2014 23.9900
03/10/2014 23.9800
03/07/2014 24.1300
03/06/2014 24.2700
03/05/2014 24.0100
03/04/2014 23.9200
03/03/2014 23.6100
02/28/2014 24.0400
02/27/2014 23.9200
02/26/2014 23.8100
02/25/2014 23.9100
02/24/2014 23.9400
02/21/2014 23.8600
02/20/2014 23.7200
02/19/2014 23.7900
02/18/2014 23.8200
02/14/2014 23.7100
02/13/2014 23.5500
02/12/2014 23.5500
02/11/2014 23.3900
02/10/2014 23.1500
02/07/2014 23.1700
02/06/2014 22.9700
02/05/2014 22.6700
02/04/2014 22.6500
02/03/2014 22.7500
01/31/2014 23.0000
01/30/2014 23.0500
01/29/2014 23.1100
01/28/2014 23.1900
01/27/2014 23.1400
01/24/2014 23.4800
01/23/2014 23.9200
01/22/2014 24.0700
01/21/2014 24.0000
01/17/2014 24.0100
01/16/2014 24.0900
01/15/2014 24.1300
01/14/2014 24.0700
01/13/2014 24.1200
01/10/2014 24.0000
01/09/2014 23.8000
01/08/2014 23.9100
01/07/2014 23.8900
01/06/2014 23.8900
01/03/2014 23.9500
01/02/2014 24.0700
12/31/2013 24.3400
12/30/2013 24.3300
12/27/2013 24.2100
12/26/2013 24.0800
12/24/2013 24.1500
12/23/2013 24.0900
12/20/2013 23.9900
12/19/2013 23.9500
12/18/2013 23.9000
12/17/2013 23.8600
12/16/2013 23.9000
12/13/2013 23.8200
12/12/2013 23.8500
12/11/2013 24.0700
12/10/2013 24.2400
12/09/2013 24.2700
12/06/2013 24.1200
12/05/2013 24.0000
12/04/2013 24.0300
12/03/2013 24.1800
12/02/2013 24.4100
11/29/2013 24.4600
11/27/2013 24.3100
11/26/2013 24.2600
11/25/2013 24.3300
11/22/2013 24.3200
11/21/2013 24.2400
11/20/2013 24.3700
11/19/2013 24.5300
11/18/2013 24.6500
11/15/2013 24.4200
11/14/2013 24.2200
11/13/2013 24.0000
11/12/2013 24.0900
11/11/2013 24.1900
11/08/2013 24.2300
11/07/2013 24.4200
11/06/2013 24.5900
11/05/2013 24.5800
11/04/2013 24.7200
11/01/2013 24.7300
10/31/2013 24.8100
10/30/2013 25.0000
10/29/2013 25.0000

The fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus and summary prospectus (VIDI, VUSE, VBND) contains this and other important information about the investment company, and a free hardcopy of the prospectus may be obtained by calling 1-800-617-0004. Read carefully before investing.

Investments involve risk. Principal loss is possible. The Funds have the same risks as the underlying securities traded on the exchange throughout the day at market price. Redemptions are limited and often commissions are charged on each trade. VIDI is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Investments in foreign securities involve political, economic and currency risks, greater volatility and differences in accounting methods. These risks are greater for investments in emerging markets. A fund that concentrates its investments in the securities of a particular industry or geographic area may be more volatile than a fund that invests in a broader range of industries. VIDI and VBND may invest in illiquid or thinly traded securities which involve additional risks such as limited liquidity and greater volatility. VBND may make investments in debt securities. The Fund's investments in high yield securities expose it to a substantial degree of credit risk. These investments are considered speculative under traditional investment standards. Debt issuers and other counterparties may not honor their obligations or may have their debt downgraded by ratings agencies. An increase in interest rates may cause the value of fixed-income securities held by the Fund to decline. During periods of rising interest rates, certain debt obligations will be paid off substantially more slowly than originally anticipated and the value of those securities may fall sharply, resulting in a decline in the Fund's income and potentially in the value of the Fund's investments. VBND may also invest in asset backed and mortgage backed securities which include additional risks that investors should be aware of such as credit risk, prepayment risk, possible illiquidity and default, as well as increased susceptibility to adverse economic developments. The performance of the funds may diverge from that of the Index. Because the Funds employ a representative sampling strategy and may also invest up to 20% of its assets in securities that are not included in the Index, the Funds may experience tracking error to a greater extent than a fund that seeks to replicate an index. The Funds are not actively managed and may be affected by a general decline in market segments related to the index. The Funds invest in securities included in, or representative of securities included in, the index, regardless of their investment merits. Small and medium-capitalization companies tend to have more limited liquidity and greater price volatility than large-capitalization companies. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

The Vident Funds are distributed by Quasar Distributors, LLC. The fund's investment advisor is Exchange Traded Concepts LLC. VIDI, VBND, and VUSE's sub-advisor is Vident Investment Advisory (VIA). Vident Financial owns the indexes that underline the funds. Quasar is not affiliated with Vident Financial, Exchange Traded Concepts, or Vident Investment Advisory.

Diversification does not guarantee a profit or protect from loss in a declining market.

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