Breakwave Advisors Announces Restated NAV for BDRY

SUMMIT, N.J.--()--Breakwave Advisors LLC, a registered commodity trading advisor announced the net asset value (NAV) per share of the below exchange traded fund for October 17, 2019 was restated effective, Thursday, October 31, 2019:

ETF Name

Ticker

Revised

Original

 
Breakwave Dry Bulk Shipping ETF

BDRY

20.1708

20.589

The Breakwave Dry Bulk Shipping ETF (BDRY™) is an exchange-traded product designed to reflect the daily price movements of the near-dated dry bulk freight futures. BDRY offers investors unlevered exposure to dry bulk freight without the need for a futures account. BDRY provides transparency to investors by listing all its holdings daily. BDRY is designed to reduce the effects of rolling contracts by using a laddered strategy to buy contracts while letting existing positions expire and settle in cash. BDRY is a commodity pool that issues shares which may be purchased and sold on NYSE Arca.

Breakwave Advisors LLC is a registered Commodity Trading Advisor founded in 2017 and based in New York City. The advisor specializes in Shipping and Freight investments and is the CTA for the Breakwave Dry Bulk Shipping ETF.

Investing in freight futures can be volatile and is not suitable for all investors.

Carefully consider the Fund’s investment objectives, risk factors, charges, and expenses before investing. This material must be accompanied or preceded by a prospectus. Please read the prospectus carefully before investing.

The Fund is not a registered investment company, so shareholders do not have the protections of the Investment Company Act of 1940.

An investment in the Fund involves significant risks. You could lose all or part of your investment in the Fund, and the Fund’s performance could trail that of other investments. The value of the Shares of the Fund relates directly to the value of, and realized profit or loss from, the Freight Futures and other assets held by the Fund, and fluctuations in price could materially affect the Fund’s shares. Investments in freight futures typically fluctuate in value with changes in spot charter rates. Charter rates for dry bulk vessels are volatile and have declined significantly since their historic highs and may remain at low levels or decrease further in the future.

The Fund will not take defensive positions to protect against declining freight rates, which could cause a decline to the value of the Fund’s shares.

Although the Fund’s shares are listed and traded on the NYSE Arca, there can be no guarantee that an active trading market for the shares will be maintained. If an investor needs to sell shares at a time when no active trading market for them exists, the price the investor receives upon sale of the shares, assuming they were able to be sold, likely would be lower than if an active market existed.

The Fund is distributed by ETFMG Financial LLC, a FINRA registered broker-dealer, which is not affiliated with Breakwave Advisors LLC.

Contacts

Deborah Kostroun
Zito Partners
(201) 403-8185
deborah@zitopartners.com

Contacts

Deborah Kostroun
Zito Partners
(201) 403-8185
deborah@zitopartners.com