| USHY | iShares Broad USD High Yield Corp Bd ETF | 80.27% |
| FALN | iShares Fallen Angels USD Bond ETF | 12.49% |
| MLPA | Global X MLP ETF | 8.01% |
| VNQ | Vanguard Real Estate ETF | 6.25% |
| QQQ | Invesco QQQ Trust | 3.33% |
| XLF | Financial Select Sector SPDR® ETF | 0.48% |
| FIGXX | Fidelity® Inv MM Fds Government I | 0.01% |
As an actively managed ETF, the fund will not seek to replicate the performance of an index. The investments of the fund and Portfolio funds will be comprised primarily of domestic and foreign fixed income securities, principally consisting of bonds, corporate debt securities, and government securities. It will invest a significant amount (generally at least 40%, and, often, greater than 80%) of its assets in securities that are rated below investment grade at the time of investment.
Adaptive High Income ETF
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