Vident Financial


As of 11/12/2019

VBND Holdings

Top Holdings Weight Shares
1. FIRST AMERN FDS INC 1.6% 12/01/2031 9.01% 46038360.84
2. UNITED STATES TREAS NTS 2.13% 12/31/2021 3.86% 19385000
3. UNITED STATES TREAS BDS 8% 11/15/2021 3.95% 17340000
4. UNITED STATES TREAS BDS 3.75% 11/15/2043 2.81% 11310000
5. UNITED STATES TREAS NTS 1.75% 11/30/2021 2.69% 13605000
6. UNITED STATES TREAS NTS 2.5% 01/15/2022 2.63% 13125000
7. UNITED STATES TREAS BDS 4.38% 05/15/2041 2.44% 9100000
8. FNMA TBA 30YR TBA 4% DEC 4% 12/15/2041 2.23% 11000000
9. FNMA TBA 30YR TBA 3.5% DEC 3.5% 12/15/2040 2.21% 11000000
10. UNITED STATES TREAS NTS 2% 08/31/2021 1.89% 9575000
11. UNITED STATES TREAS NTS 1.13% 08/31/2021 1.79% 9205000
12. UNITED STATES TREAS NTS 2% 12/31/2021 1.75% 8815000
13. UNITED STATES TREAS NTS 2.13% 09/30/2021 1.68% 8500000
14. UNITED STATES TREAS NTS 2.88% 10/15/2021 1.65% 8230000
15. FNMA TBA 30YR TBA 5.00% DEC 5% 12/15/2040 1.64% 7810000
16. UNITED STATES TREAS NTS 2% 10/31/2021 1.47% 7460000
17. UNITED STATES TREAS NTS 1.25% 10/31/2021 1.37% 7035000
18. UNITED STATES TREAS NTS 1.88% 01/31/2022 1.34% 6800000
19. UNITED STATES TREAS BDS 3.63% 08/15/2043 1.29% 5330000
20. UNITED STATES TREAS NTS 1.13% 09/30/2021 1.24% 6380000
21. UNITED STATES TREAS NTS 2.88% 11/15/2021 1.1% 5410000
22. UNITED STATES TREAS NTS 2.5% 02/15/2022 1.06% 5285000
23. UNITED STATES TREAS BDS 4.25% 11/15/2040 1.05% 3990000
24. UNITED STATES TREAS NTS 2.75% 09/15/2021 1.03% 5125000
25. UNITED STATES TREAS BDS 4.75% 02/15/2041 0.99% 3550000
26. UNITED STATES TREAS NTS 1.88% 11/30/2021 0.96% 4855000
27. UNITED STATES TREAS BDS 3.75% 08/15/2041 0.79% 3225000
28. UNITED STATES TREAS NTS 1.5% 01/31/2022 0.79% 4010000
29. UNITED STATES TREAS BDS 3.63% 02/15/2044 0.77% 3180000
30. UNITED STATES TREAS NTS 2% 11/15/2021 0.77% 3880000
31. UNITED STATES TREAS BDS 6.13% 11/15/2027 0.68% 2575000
32. UNITED STATES TREAS BDS 5.5% 08/15/2028 0.62% 2440000
33. UNITED STATES TREAS BDS 5.25% 11/15/2028 0.61% 2405000
34. FNMA TBA 30YR TBA 3% DEC 3% 12/15/2042 0.57% 2860000
35. UNITED STATES TREAS BDS 6.5% 11/15/2026 0.57% 2180000
36. GNMAII JUMBO TBA 30YR TBA 4.5% NOV 4.5% 11/15/2041 0.51% 2500000
37. UNITED STATES TREAS BDS 6% 02/15/2026 0.43% 1730000
38. GNMAII JUMBO TBA 30YR 4.0 NOV 4% 11/15/2041 0.4% 1950000
39. ADIENT GLOBAL HLDGS LTD 4.88% 08/15/2026 0.39% 2300000
40. CNX RESOURCES CORPORATION 7.25% 03/14/2027 0.38% 2280000
41. UNITED STATES STL CORP NEW 6.25% 03/15/2026 0.37% 2180000
42. DISH DBS CORP 7.75% 07/01/2026 0.37% 1770000
43. EMBARQ CORP 8% 06/01/2036 0.37% 1850000
44. CLEVELAND CLIFFS INC 5.88% 06/01/2027 0.37% 1900000
45. CLOUD CRANE LLC 10.13% 08/01/2024 0.36% 1720000
46. TUTOR PERINI CORP 6.88% 05/01/2025 0.35% 1800000
47. WASHINGTON PRIME GROUP LP 6.45% 08/15/2024 0.35% 1870000
48. TRINSEO MATLS OPER SCA / FIN SR GLBL 144A 25 5.38% 09/01/2025 0.35% 1800000
49. L BRANDS INC 6.75% 07/01/2036 0.35% 2060000
50. USA COMPRESSION PARTNERS LP 6.88% 09/01/2027 0.34% 1670000
51. ALLSTATE CORP 6.5% 05/15/2067 0.32% 1290000
52. DEVON FING CORP U L C 7.88% 09/30/2031 0.32% 1157000
53. KIRBY CORP 4.2% 03/01/2028 0.31% 1485000
54. ENSTAR GROUP LTD 4.95% 06/01/2029 0.31% 1469000
55. MARKEL CORP 5% 04/05/2046 0.31% 1375000
56. AXA EQUITABLE HLDGS INC 5% 04/20/2048 0.3% 1475000
57. PRUDENTIAL FINL INC 5.7% 09/15/2048 0.31% 1370000
58. SYNCHRONY FINL 3.7% 08/04/2026 0.3% 1500000
59. METLIFE INC 10.75% 08/01/2069 0.31% 930000
60. BNSF FUNDING TRUST 1 6.61% 12/15/2055 0.31% 1370000
61. INTERPUBLIC GROUP COS INC 5.4% 10/01/2048 0.3% 1295000
62. GLP CAP LP/GLP FING II INC 5.75% 06/01/2028 0.3% 1350000
63. SPIRIT AEROSYSTEMS INC 4.6% 06/15/2028 0.3% 1410000
64. ING U S INC 5.65% 05/15/2053 0.3% 1420000
65. SOUTHERN CO 5.5% 03/15/2057 0.29% 1430000
66. DELTA AIR LINES INC DEL 4.38% 04/19/2028 0.29% 1435000
67. MACYS RETAIL HLDGS INC 3.63% 06/01/2024 0.3% 1475000
68. HESS CORP 6% 01/15/2040 0.29% 1325000
69. PBF HLDG CO LLC / PBF FIN CORP FR 7.25% 061525 7.25% 06/15/2025 0.3% 1400000
70. TECH DATA CORP 4.95% 02/15/2027 0.29% 1400000
71. FNMA TBA 30YR TBA 4.5% DEC 4.5% 12/15/2040 0.29% 1400000
72. OLD REP INTL CORP 3.88% 08/26/2026 0.29% 1400000
73. SEAGATE HDD CAYMAN 4.88% 06/01/2027 0.29% 1380000
74. ENERGY TRANSFER PRTNRS L P 7.5% 07/01/2038 0.29% 1169000
75. INGREDION INC 3.2% 10/01/2026 0.29% 1460000
76. MICRON TECHNOLOGY INC 5.33% 02/06/2029 0.29% 1315000
77. UNITED STATES TREAS NTS 2% 02/15/2022 0.29% 1440000
78. MPLX LP 4.13% 03/01/2027 0.28% 1395000
79. APACHE CORP 5.25% 02/01/2042 0.29% 1470000
80. EQT CORP 3.9% 10/01/2027 0.28% 1610000
81. HEWLETT PACKARD ENTERPRISE CO SR GLBL NT 45 6.35% 10/15/2045 0.28% 1210000
82. AETNA INC NEW 6.63% 06/15/2036 0.29% 1100000
83. CONTINENTAL RESOURCES INC 4.38% 01/15/2028 0.28% 1390000
84. MOSAIC CO NEW 5.63% 11/15/2043 0.29% 1260000
85. MASCO CORP 4.38% 04/01/2026 0.28% 1315000
86. ARCHROCK PARTNERS L P / ARCHRO SR GLBL 144A 27 6.88% 04/01/2027 0.28% 1365000
87. VULCAN MATLS CO 4.5% 06/15/2047 0.28% 1305000
88. OCCIDENTAL PETE CORP 6.6% 03/15/2046 0.28% 1100000
89. UNUM GROUP 5.75% 08/15/2042 0.28% 1250000
90. ACTAVIS FUNDING SCS 4.85% 06/15/2044 0.28% 1300000
91. HALLIBURTON CO 7.45% 09/15/2039 0.28% 1000000
92. HEWLETT PACKARD CO 6% 09/15/2041 0.28% 1300000
93. FEDEX CORP 5.1% 01/15/2044 0.28% 1260000
94. AMERICAN EQTY INVT LIFE HLD CO CR SEN SR GLBL27 5% 06/15/2027 0.28% 1310000
95. MARATHON OIL CORP 6.6% 10/01/2037 0.27% 1140000
96. VIACOM INC 6.88% 04/30/2036 0.27% 1070000
97. CHARTER COMMUNICATIONS OPER 6.83% 10/23/2055 0.27% 1100000
98. CARE CAP PPTYS LP 5.13% 08/15/2026 0.27% 1290000
99. PLAINS ALL AMERN PIPELINE L P SR NT 6.65% 37 6.65% 01/15/2037 0.28% 1200000
100. WESTINGHOUSE AIR BRAKE CO NEW 4.7% 28 4.95% 09/15/2028 0.27% 1270000
101. OWENS CORNING NEW 4.3% 07/15/2047 0.27% 1515000
102. JABIL INC 3.95% 01/12/2028 0.27% 1365000
103. FLUOR CORP NEW 4.25% 09/15/2028 0.27% 1410000
104. INTL PAPER CO 7.3% 11/15/2039 0.28% 1015000
105. MPT OPERATING PARTNERSHIP L.P SR GLBL NT 5% 27 5% 10/15/2027 0.27% 1300000
106. WHIRLPOOL CORP 4.5% 06/01/2046 0.27% 1340000
107. LEAR CORP 3.8% 09/15/2027 0.27% 1360000
108. EDISON INTL 4.13% 03/15/2028 0.27% 1375000
109. NATIONAL OILWELL VARCO INC 3.95% 12/01/2042 0.27% 1520000
110. BRIGHTHOUSE FINL INC 4.7% 06/22/2047 0.27% 1550000
111. DARDEN RESTAURANTS INC 3.85% 05/01/2027 0.27% 1305000
112. FIFTH THIRD BANCORP 8.25% 03/01/2038 0.27% 905000
113. CARDINAL HEALTH INC 4.37% 06/15/2047 0.27% 1410000
114. CONAGRA BRANDS INC 5.4% 11/01/2048 0.26% 1160000
115. LEGG MASON INC 5.63% 01/15/2044 0.27% 1225000
116. PATTERSON UTI ENERGY INC 3.95% 02/01/2028 0.27% 1435000
117. ENABLE MIDSTREAM PARTNERS LP SR NT 5% 44 5% 05/15/2044 0.27% 1560000
118. MOLSON COORS BREWING CO 5% 05/01/2042 0.26% 1260000
119. CIMAREX ENERGY CO 3.9% 05/15/2027 0.27% 1325000
120. WALGREENS BOOTS ALLIANCE INC SR NT 4.8% 44 4.8% 11/18/2044 0.27% 1320000
121. DIAMOND SPORTS GROUP LLC / DIA SR SEC GLBL 27 6.63% 08/15/2027 0.26% 1270000
122. DOMINION ENERGY INC 5.75% 10/01/2054 0.25% 1185000
123. NEXTERA ENERGY CAP HLDGS INC JR SB GLBL -M 77 4.8% 12/01/2077 0.26% 1240000
124. EXELON GENERATION CO LLC 6.25% 10/01/2039 0.25% 1040000
125. TENNESSEE VALLEY AUTH 5.88% 04/01/2036 0.25% 900000
126. HOLLYFRONTIER CORP 5.88% 04/01/2026 0.25% 1140000
127. ONEOK PARTNERS LP 6.65% 10/01/2036 0.25% 1030000
128. AT&T INC 5.3% 08/15/2058 0.24% 1070000
129. COACH INC 4.13% 07/15/2027 0.24% 1185000
130. ALTRIA GROUP INC 5.38% 01/31/2044 0.24% 1080000
131. ZAYO GROUP LLC/ZAYO CAP INC 6.38% 05/15/2025 0.24% 1150000
132. CARLISLE COS INC 3.75% 12/01/2027 0.23% 1130000
133. UNITED STATES TREAS BDS 3.13% 02/15/2043 0.23% 1035000
134. BUCKEYE PARTNERS L P 3.95% 12/01/2026 0.23% 1255000
135. HASBRO INC 6.35% 03/15/2040 0.23% 1000000
136. TENNESSEE VALLEY AUTH 6.15% 01/15/2038 0.22% 755000
137. MARTIN MARIETTA MATLS INC 4.25% 12/15/2047 0.22% 1120000
138. CONCHO RES INC 3.75% 10/01/2027 0.22% 1090000
139. GNMA TBA 30YR TBA 3.00% NOV 3% 11/15/2042 0.21% 1050000
140. TENNESSEE VALLEY AUTH 5.25% 09/15/2039 0.21% 780000
141. UNITED STATES TREAS NTS 1.88% 02/28/2022 0.21% 1065000
142. GNMA TBA 30YR TBA 04.500% NOV 4.5% 11/15/2048 0.21% 1000000
143. GNMA TBA 30YR TBA 4% NOV 4% 11/15/2040 0.2% 1000000
144. GNMA TBA 30YR TBA 3.50% NOV 3.5% 11/15/2041 0.2% 1000000
145. GNMA II JUMBO TBA 30 YR 3.5% NOV 3.5% 11/15/2042 0.2% 1000000
146. GNMA II JUMBO TBA 30YR 3.0% NOV 3% 11/15/2042 0.2% 1000000
147. PSEG PWR LLC 8.63% 04/15/2031 0.19% 715000
148. SONOCO PRODS CO 5.75% 11/01/2040 0.19% 795000
149. ENTERPRISE PRODS OPER LLC 4.88% 08/16/2077 0.19% 965000
150. MURPHY OIL CORP 5.75% 08/15/2025 0.19% 920000
151. ALLEGHENY TECHNOLOGIES INC 7.88% 08/15/2023 0.19% 850000
152. CALPINE CORP 5.75% 01/15/2025 0.18% 890000
153. VALERO ENERGY CORP NEW 6.63% 06/15/2037 0.17% 670000
154. CUMULUS MEDIA NEW HLDGS INC 6.75% 07/01/2026 0.17% 810000
155. M D C HLDGS INC 6% 01/15/2043 0.17% 850000
156. UNITED STATES TREAS NTS 1.75% 02/28/2022 0.17% 850000
157. TALLGRASS ENERGY PARTNERS LP/ SR GLBL 144A 24 5.5% 09/15/2024 0.17% 870000
158. TENNESSEE VALLEY AUTH 7.13% 05/01/2030 0.15% 535000
159. TEREX CORP NEW 5.63% 02/01/2025 0.15% 760000
160. UNITED STATES CELLULAR CORP 6.7% 12/15/2033 0.15% 680000
161. FREEPORT-MCMORAN INC 5.4% 11/14/2034 0.15% 740000
162. AMKOR TECHNOLOGY INC 6.63% 09/15/2027 0.12% 555000
163. GREIF INC 6.5% 03/01/2027 0.12% 550000
164. SALLY HLDGS LLC 5.63% 12/01/2025 0.12% 570000
165. TENNESSEE VALLEY AUTH 1.88% 08/15/2022 0.11% 575000
166. CF INDS INC 5.38% 03/15/2044 0.11% 550000
167. NCR CORP NEW 6.13% 09/01/2029 0.11% 520000
168. GRAY ESCROW INC 7% 05/15/2027 0.11% 490000
169. HARSCO CORP 5.75% 07/31/2027 0.1% 500000
170. HOSPITALITY PPTYS TR 4.35% 10/01/2024 0.1% 510000
171. VALERO ENERGY PARTNERS LP 4.38% 12/15/2026 0.1% 480000
172. US Dollars 0% 0.1% 500000
173. HUGHES SATELLITE SYS CORP 6.63% 08/01/2026 0.1% 440000
174. GRUBHUB HLDGS INC 5.5% 07/01/2027 0.09% 500000
175. TENNESSEE VALLEY AUTH 2.88% 02/01/2027 0.09% 430000
176. PARSLEY ENERGY LLC 5.63% 10/15/2027 0.09% 430000
177. FEDERAL NATL MTG ASSN 7.13% 01/15/2030 0.08% 290000
178. SUNOCO LP/SUNOCO FIN CORP 6% 04/15/2027 0.08% 400000
179. FEDERAL HOME LN MTG CORP 1.13% 08/12/2021 0.08% 420000
180. FEDERAL NATL MTG ASSN 1.25% 08/17/2021 0.08% 415000
181. FEDERAL HOME LOAN BANKS 3% 09/10/2021 0.08% 400000
182. HERC HLDGS INC 5.5% 07/15/2027 0.08% 370000
183. TENNESSEE VALLEY AUTH 6.75% 11/01/2025 0.07% 300000
184. IHEARTCOMMUNICATIONS INC 6.38% 05/01/2026 0.08% 350000
185. FEDERAL HOME LOAN BANKS 1.88% 11/29/2021 0.07% 375000
186. FEDERAL HOME LOAN BANKS 2.63% 12/10/2021 0.07% 365000
187. TEMPUR SEALY INTL INC 5.5% 06/15/2026 0.07% 350000
188. CSC HLDGS INC 5.75% 01/15/2030 0.07% 350000
189. TALLGRASS ENERGY PARTNERS LP/ SR GLBL 144A 28 5.5% 01/15/2028 0.07% 380000
190. UNITED STATES TREAS NTS 2.25% 11/15/2025 0.07% 340000
191. OLIN CORP 5% 02/01/2030 0.07% 335000
192. FEDERAL NATL MTG ASSN 6.63% 11/15/2030 0.07% 230000
193. FEDERAL NATL MTG ASSN 7.25% 05/15/2030 0.07% 220000
194. FEDERAL HOME LOAN BANKS 3% 10/12/2021 0.06% 315000
195. FEDERAL HOME LN BKS 5.5% 07/15/2036 0.06% 220000
196. POST HLDGS INC 5.63% 01/15/2028 0.06% 290000
197. FEDERAL NATL MTG ASSN 1.38% 10/07/2021 0.06% 310000
198. UNITED STATES TREAS NTS 1.63% 05/15/2026 0.06% 310000
199. FEDERAL HOME LN MTG CORP 6.75% 03/15/2031 0.06% 200000
200. FEDERAL NATL MTG ASSN 5.63% 07/15/2037 0.06% 200000
201. H & E EQUIPMENT SERVICES INC SR GLBL NT 25 5.63% 09/01/2025 0.05% 260000
202. SIX FLAGS ENTMT CORP NEW 5.5% 04/15/2027 0.05% 260000
203. UNITED STATES TREAS NTS 2.75% 08/31/2025 0.05% 255000
204. FEDERAL NATL MTG ASSN 2.63% 01/11/2022 0.05% 260000
205. FEDERAL NATL MTG ASSN 2% 01/05/2022 0.05% 260000
206. NUSTAR LOGISTICS L P 5.63% 04/28/2027 0.05% 250000
207. FEDERAL HOME LN MTG CORP 2.38% 01/13/2022 0.05% 255000
208. TENNESSEE VALLEY AUTH 3.5% 12/15/2042 0.05% 225000
209. FEDERAL HOME LOAN BANKS 2.5% 03/11/2022 0.05% 245000
210. FEDERAL HOME LOAN BANKS 2.25% 03/11/2022 0.05% 240000
211. HOWARD HUGHES CORP 5.38% 03/15/2025 0.05% 220000
212. TAYLOR MORRISON CMNTYS INC 5.88% 06/15/2027 0.04% 200000
213. FEDERAL HOME LN MTG CORP 6.75% 09/15/2029 0.04% 150000
214. HORIZON PHARMA USA INC 5.5% 08/01/2027 0.04% 200000
215. NUANCE COMMUNICATIONS INC 5.63% 12/15/2026 0.04% 195000
216. FEDERAL NATL MTG ASSN 6.25% 05/15/2029 0.04% 150000
217. TENNESSEE VALLEY AUTH 2.88% 09/15/2024 0.04% 180000
218. FEDERAL HOME LOAN BANKS 2.13% 06/10/2022 0.03% 175000
219. GRAY TELEVISION INC 5.88% 07/15/2026 0.03% 155000
220. NEXSTAR ESCROW INC 5.63% 07/15/2027 0.03% 150000
221. FEDERAL NATL MTG ASSN 2.5% 04/13/2021 0.03% 150000
222. FEDERAL HOME LOAN BANKS 2% 09/09/2022 0.03% 150000
223. FEDERAL NATL MTG ASSN 1.88% 04/05/2022 0.03% 130000
224. FEDERAL NATL MTG ASSN 1.38% 09/06/2022 0.03% 130000
225. FEDERAL NATL MTG ASSN 2.25% 04/12/2022 0.02% 125000
226. FEDERAL NATL MTG ASSN 2.38% 01/19/2023 0.02% 110000
227. NETFLIX INC 6.38% 05/15/2029 0.02% 100000
228. FEDERAL NATL MTG ASSN 2% 10/05/2022 0.02% 110000
229. FEDERAL HOME LOAN BANKS 3.25% 06/09/2028 0.02% 100000
230. ALLISON TRANSMISSION INC 5.88% 06/01/2029 0.02% 100000
231. MASONITE INTL CORP NEW 5.38% 02/01/2028 0.02% 100000
232. VISTRA OPERATIONS CO LLC 5.5% 09/01/2026 0.02% 100000
233. STERICYCLE INC 5.38% 07/15/2024 0.02% 100000
234. NRG YIELD OPER LLC 5.38% 08/15/2024 0.02% 100000
235. L BRANDS INC 6.88% 11/01/2035 0.02% 110000
236. BERRY GLOBAL INC 4.5% 02/15/2026 0.02% 80000
237. FEDERAL NATL MTG ASSN 1.25% 05/06/2021 0.01% 75000
238. FEDERAL NATL MTG ASSN 2.75% 06/22/2021 0.01% 60000
239. FEDERAL HOME LN MTG CORP 2.75% 06/19/2023 0.01% 50000
240. FEDERAL HOME LOAN BANKS 2.13% 06/09/2023 0.01% 50000

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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