Vident Financial
As of 06/14/2019

All Holdings

Name Country Code Weight Shares
1. PS BUSINESS PKS INC CALIF US 3.90% 26466
2. PROLOGIS INC US 3.73% 53872
3. EQUINIX INC US 3.46% 7848
4. AVALONBAY CMNTYS INC US 3.36% 18674
5. EQUITY RESIDENTIAL US 3.30% 48711
6. TERRENO RLTY CORP US 3.18% 77594
7. MID AMER APT CMNTYS INC US 2.98% 29290
8. DIGITAL RLTY TR INC US 2.45% 23694
9. AMERICAN HOMES 4 RENT US 2.32% 108633
10. APARTMENT INVT & MGMT CO US 2.18% 49248
11. EASTERLY GOVT PPTYS INC US 2.11% 131532
12. W P CAREY INC US 1.99% 26928
13. SIMON PPTY GROUP INC NEW US 1.80% 12779
14. MARRIOTT INTL INC NEW US 1.74% 15035
15. CAMDEN PPTY TR US 1.74% 18909
16. BOSTON PROPERTIES INC US 1.74% 14846
17. UDR INC US 1.67% 41502
18. WELLTOWER INC US 1.63% 22931
19. TIER REIT INC US 1.59% 63770
20. ALEXANDRIA REAL ESTATE EQ INC COM US 1.49% 11377
21. AMERICAN ASSETS TR INC US 1.48% 36151
22. DUKE REALTY CORP US 1.40% 50845
23. HIGHWOODS PPTYS INC US 1.39% 36420
24. ESSEX PPTY TR INC US 1.33% 5133
25. STAG INDL INC US 1.32% 49155
26. HUDSON PAC PPTYS INC US 1.31% 44524
27. FEDERAL REALTY INVT TR US 1.28% 11151
28. VENTAS INC US 1.26% 21781
29. KILROY RLTY CORP US 1.19% 17818
30. LIBERTY PPTY TR US 1.19% 27306
31. HILTON WORLDWIDE HLDGS INC US 1.19% 14670
32. EQUITY LIFESTYLE PPTYS INC US 1.09% 10140
33. SUN CMNTYS INC US 1.08% 9692
34. RETAIL OPPORTUNITY INVTS CORP COM US 1.07% 71617
35. MONMOUTH REAL ESTATE INVT CORP CL A US 1.05% 88528
36. FIRST INDUSTRIAL REALTY TRUST COM US 1.05% 33168
37. EQUITY COMWLTH US 1.04% 35590
38. SL GREEN RLTY CORP US 1.02% 13520
39. REALTY INCOME CORP US 1.01% 15909
40. CYRUSONE INC US 0.98% 19218
41. REGENCY CTRS CORP US 0.96% 16044
42. ACADIA RLTY TR US 0.95% 38903
43. BROOKFIELD PROPERTY REIT INC CL A US 0.94% 58711
44. DOUGLAS EMMETT INC US 0.94% 26200
45. PUBLIC STORAGE US 0.93% 4432
46. CORPORATE OFFICE PPTYS TR US 0.92% 37303
47. HCP INC US 0.90% 32549
48. EASTGROUP PPTY INC US 0.86% 8649
49. AMERICOLD RLTY TR US 0.85% 29827
50. CORESITE RLTY CORP US 0.77% 7771
51. QTS RLTY TR INC US 0.71% 17852
52. NATIONAL RETAIL PPTYS INC US 0.69% 14381
53. VORNADO RLTY TR US 0.67% 11777
54. RETAIL PPTYS AMER INC US 0.67% 63447
55. HOST HOTELS & RESORTS INC US 0.60% 38176
56. COUSINS PPTYS INC US 0.57% 67856
57. VEREIT INC US 0.54% 65559
58. HEALTHCARE TR AMER INC US 0.50% 20000
59. SPIRIT RLTY CAP INC NEW US 0.49% 12716
60. SERITAGE GROWTH PPTYS US 0.48% 12819
61. GETTY RLTY CORP NEW US 0.47% 17469
62. URSTADT BIDDLE PPTYS INC US 0.47% 25463
63. EXTRA SPACE STORAGE INC US 0.47% 5042
64. AMERICAN CAMPUS CMNTYS INC US 0.47% 11524
65. OMEGA HEALTHCARE INVS INC US 0.47% 14782
66. COLUMBIA PPTY TR INC US 0.47% 24593
67. MACERICH CO US 0.44% 14700
68. JBG SMITH PPTYS US 0.41% 11602
69. HEALTHCARE RLTY TR US 0.40% 14267
70. HYATT HOTELS CORP US 0.40% 6190
71. PHYSICIANS RLTY TR US 0.40% 25393
72. WYNDHAM HOTELS & RESORTS INC COM US 0.37% 7523
73. NATIONAL HEALTH INVS INC US 0.37% 5400
74. PARK HOTELS RESORTS INC US 0.35% 14337
75. CARETRUST REIT INC US 0.35% 16460
76. REXFORD INDL RLTY INC US 0.31% 9012
77. WEINGARTEN RLTY INVS US 0.30% 12310
78. LTC PPTYS INC US 0.30% 7602
79. CHOICE HOTELS INTL INC US 0.30% 4027
80. RYMAN HOSPITALITY PPTYS INC US 0.29% 4190
81. CUBESMART US 0.28% 9572
82. NATIONAL HEALTHCARE CORP US 0.27% 3846
83. APPLE HOSPITALITY REIT INC US 0.26% 19321
84. XENIA HOTELS & RESORTS INC US 0.25% 13544
85. LIFE STORAGE INC US 0.24% 2864
86. SUNSTONE HOTEL INVS INC NEW US 0.22% 19037
87. PEBBLEBROOK HOTEL TR US 0.21% 8474
88. DIAMONDROCK HOSPITALITY CO US 0.21% 24059
89. CHESAPEAKE LODGING TR US 0.20% 8060
90. RLJ LODGING TR US 0.20% 12766
91. AGREE REALTY CORP US 0.19% 3315
92. EXTENDED STAY AMER INC US 0.18% 12219
93. CHATHAM LODGING TR US 0.15% 9150
94. NATIONAL STORAGE AFFILIATES TR COM SHS BEN IN US 0.15% 5818
95. SAUL CTRS INC US 0.15% 3011
96. INVITATION HOMES INC US 0.12% 5214
97. SUMMIT HOTEL PPTYS INC US 0.11% 10474
98. COREPOINT LODGING INC US 0.10% 9371
99. PARAMOUNT GROUP INC US 0.10% 7981
100. RPT REALTY US 0.10% 8932
101. LEXINGTON REALTY TRUST US 0.10% 12077
102. ALEXANDERS INC US 0.09% 282
103. SABRA HEALTH CARE REIT INC US 0.09% 5600
104. WASHINGTON REAL ESTATE INVT TR SH BEN INT US 0.09% 3639
105. KIMCO RLTY CORP US 0.09% 5322
106. BRIXMOR PPTY GROUP INC US 0.08% 5348
107. PIEDMONT OFFICE REALTY TR INC COM CL A US 0.08% 4710
108. ALEXANDER & BALDWIN INC NEW US 0.08% 3908
109. SITE CENTERS CORP US 0.08% 6853
110. MEDICAL PPTYS TRUST INC US 0.08% 5003
111. BRANDYWINE RLTY TR US 0.08% 5905
112. EMPIRE ST RLTY TR INC US 0.08% 5882
113. KITE RLTY GROUP TR US 0.08% 5493
114. URBAN EDGE PPTYS US 0.06% 4286
115. TANGER FACTORY OUTLET CTRS INC COM US 0.05% 3718

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. Holdings information for each fund as follows: VIDI, VUSE, VBND, PPTY.

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. Market vs. NAV Returns. The total return of an ETF based on its market price and its NAV at the beginning and end of the holding period. The market return, not the NAV return, is the return actually earned by ETF investors, except for those who hold creation units. The NAV is the value of each share of a fund as determined by the value of its underlying holdings, including any cash in the portfolio. NAV is calculated by dividing a fund's total net assets by its number of shares outstanding.

The Vident Funds are distributed by Quasar Distributors, LLC. The fund's investment advisor is Vident Advisory, 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, Vident Advisory, LLC, or Vident Investment Advisory. Quasar is not the distributor of FLAG ETF.

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

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