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Comunicación de marketing

QNTM

VanEck
Quantum Computing UCITS ETF

31 marzo 2026

Detalles del fondo

Moneda base USD
Fecha de comienzo 21 mayo 2025
Domicilio Irlanda
Activos netos USD 485,4M
Acciones en circulación 21.700.000
Ratio de gastos totales 0,55%
Estructura del producto Física (replicación completa)
Conformidad OICVM
Frecuencia de reequilibrio Trimestral
Frecuencia de distribución Ninguno
Tratamiento de los ingresos Reinversión
Número de valor suizo 144737019
Elegibilidad para ISA
SIPP disponible
Países de registro AT, CH, DE, DK, ES, FI, FR, IE, IS, IT, LU, NL, NO, PL, PT, SE, UK

Información del índice

Proveedor de índices MarketVector Indexes GmbH
Tipo de índice Rendimiento total neto
Moneda USD
Fecha de comienzo 11 feb. 2025
Frecuencia de reequilibrio Trimestral
Ticker de Bloomberg MVQTMLTR
Ticker de Reuters .MVQTMLTR

Datos del fondo

Número de posiciones 30
Ratio precio-beneficio* 21,56
Relación precio/valor contable* 2,78
Cap. mercado media pond. USD 465,9B

* Últimos 12 meses

Desglose del país

Estados Unidos 64,75%
Alemania 12,05%
Japón 10,27%
Corea del Sur 4,38%
Finlandia 4,35%
Suecia 3,30%
Canadá 0,73%
Reino Unido 0,06%
Otros/efectivo 0,12%

DESCRIPCIÓN DEL FONDO

La informática cuántica está pasando de la teoría a la realidad, prometiendo redefinir lo que es computacionalmente posible. Como el primero de Europa, el ETF VanEck Quantum Computing UCITS captura el potencial de una de las tecnologías más transformadoras de nuestro tiempo. Aunque están surgiendo los primeros casos de uso, el éxito comercial sigue siendo incierto, y la exposición financiera puede extenderse más allá de las empresas puramente cuánticas.

El índice MarketVector™ Global Quantum Leaders Total Return Net (MVQTMLTR) es un índice temático que sigue el rendimiento de empresas centradas principalmente en el desarrollo de tecnología de computación cuántica o que son líderes en propiedad de patentes relacionadas con la computación cuántica.

Historial de rendimiento (%)

Fin de mes A partir de 31 mar. 2026 1 mes* 3 meses* YTD* 1 Año % 3 Años % 5 Años % 10 Años % CREACIÓN DEL ETF
MVQTMLTR (Índice) -10,94 -10,29 -10,29 -- -- -- -- 15,84

El rendimiento pasado no predice rentabilidades futuras. El rendimiento indicado representa el rendimiento pasado. El rendimiento actual puede ser inferior o superior a la rentabilidad media anual indicada. Los datos de rendimiento se muestran sobre la base del valor liquidativo, en términos de moneda base, con los ingresos netos reinvertidos y tras descontar comisiones. Se aplicarán comisiones de corretaje o transacción. La rentabilidad puede aumentar o disminuir como consecuencia de las fluctuaciones cambiarias. Los inversores deben ser conscientes de que, debido a las fluctuaciones del mercado y a otros factores, el rendimiento de los ETF puede variar con el tiempo y deben considerar una perspectiva a medio o largo plazo a la hora de evaluarlo. Invertir está sujeto a riesgos, incluida la posible pérdida del capital. Fuente: VanEck.

*Los periodos superiores a un año están anualizados.

Ponderaciones sectoriales

Sector % de activos netos
Tecnología de la información 59,9
Industriales 16,0
Servicios de comunicación 10,3
Finanzas 8,8
Consumo discrecional 5,0
Otros/efectivo 0,1
Clasificación sectorial: GICS

QNTM

VanEck
Quantum Computing UCITS ETF

31 marzo 2026

Las 10 mayores posiciones

IONQ INC 7,28%
D-WAVE QUANTUM INC 4,54%
WELLS FARGO & CO 4,48%
BANK OF AMERICA CORP 4,35%
NOKIA OYJ 4,35%
ACCENTURE PLC 4,26%
AMAZON.COM INC 4,24%
INTERNATIONAL BUSINESS MACHINES CORP 4,22%
DEUTSCHE TELEKOM AG 4,21%
HONEYWELL INTERNATIONAL INC 4,09%
TOP 10 SUBTOTAL 46,02%
POSICIONES RESTANTES 53,86%
OTROS/EFECTIVO 0,12%
TOTAL 100,00%
Para obtener un listado completo y actualizado de las participaciones del Fondo, visite www.vaneck.com

Información de negociación

BOLSA MONEDA DE
NEGOCIACIÓN
ISIN TICKER
DE BOLSA
TICKER DE
BLOOMBERG
TICKER DE
REUTERS
SEDOL IOPV
SÍMBOLO
BOLSA DE LONDRES USD IE0007Y8Y157 QNTM QNTM LN QNTM.L BPQF0X6 QNTMUSIV
BOLSA DE LONDRES GBP IE0007Y8Y157 QNTG QNTG LN VVQNTG.L BPQF0Y7 QNTMUSIV
DEUTSCHE BÖRSE EUR IE0007Y8Y157 QUTM QUTM GY QUTM.DE BPQCX83 QNTMEUIV
SIX Swiss Exchange CHF CHF IE0007Y8Y157 QNTM QNTM SE QNTM.S BPQCYQ8 QNTMUSIV
Borsa Italiana EUR EUR IE0007Y8Y157 QNTM QNTM IM QNTM.MI BPQCYN5 QNTMEUIV

Principales riesgos

Riesgo de concentración industrial o sectorial: Los activos del Fondo pueden concentrarse en uno o varios sectores o industrias concretos. El ETF Defensa puede estar sujeto al riesgo de que las condiciones económicas, políticas o de otro tipo que tengan un efecto negativo en los sectores o industrias pertinentes repercutan negativamente en la rentabilidad del Fondo en mayor medida que si los activos del Fondo se invirtieran en una variedad más amplia de sectores o industrias.

Riesgo de liquidez: Existen riesgos de liquidez cuando resulta difícil comprar o vender un instrumento financiero concreto. Si el mercado de referencia carece de liquidez, puede que no sea posible iniciar una transacción o liquidar una posición a un precio ventajoso o razonable, o en absoluto. Este es uno de los factores de riesgo de un ETF de defensa.

Riesgo del mercado de valores: Los precios de los valores del ETF de defensa están sujetos a los riesgos asociados a la inversión en el mercado de valores, incluidas las condiciones económicas generales y las caídas de valor repentinas e imprevisibles. Una inversión en el Fondo puede perder dinero.

Para más información sobre los riesgos, consulte la sección "Factores de riesgo" del folleto del Fondo correspondiente, disponible en www.vaneck.com.

INFORMACIÓN IMPORTANTE

Esto es una comunicación publicitaria. Consulte el folleto del OICVM y el documento de datos fundamentales («KID») antes de tomar una decisión de inversión definitiva. Estos documentos están disponibles en inglés y los KID en los idiomas locales y pueden obtenerse gratuitamente en www.vaneck.com o solicitarse sin coste a VanEck Asset Management B.V. (la «sociedad de gestión») o, en su caso, al agente de establecimiento designado para su país.

Esta información procede de VanEck (Europe) GmbH, que está autorizada como empresa de inversión del EEE en virtud de la Directiva sobre Mercados de Instrumentos Financieros («MiFiD»). VanEck (Europe) GmbH tiene su domicilio social en Kreuznacher Str. 30, 60486 Frankfurt, Alemania, y ha sido nombrado distribuidor de los productos VanEck en Europa por la Sociedad Gestora. La Sociedad Gestora está constituida conforme a la legislación holandesa y registrada en la Autoridad Holandesa de los Mercados Financieros (AFM).

Este material sólo tiene carácter informativo general y preliminar y no debe interpretarse como asesoramiento de inversión, jurídico o fiscal. VanEck (Europe) GmbH y sus empresas asociadas y afiliadas (conjuntamente «VanEck») no asumen ninguna responsabilidad con respecto a cualquier decisión de inversión, desinversión o retención sobre la base de esta información. 

VanEck Quantum Computing UCITS ETF (el «ETF») es un subfondo de VanEck UCITS ETFs plc, una sociedad paraguas de inversión de capital variable abierta con responsabilidad limitada entre subfondos. El ETF está registrado en el Banco Central de Irlanda, se gestiona de forma pasiva y sigue un índice de renta variable. Para más detalles sobre los mercados regulados en los que cotiza el ETF, consulte la sección «Información de negociación» de la página del ETF en www.vaneck.com. La inversión en el ETF debe interpretarse como la adquisición de acciones del ETF y no de los activos subyacentes.

El MarketVector™ Global Quantum Leaders Index es propiedad exclusiva de MarketVector Indexes GmbH (filial al 100% de Van Eck Associates Corporation), que ha encargado a Solactive AG el mantenimiento y el cálculo del Índice. Solactive AG hace todo lo posible para garantizar que el Índice se calcule correctamente. Independientemente de sus obligaciones frente a MarketVector Indexes GmbH («MarketVector»), Solactive AG no tiene ninguna obligación de señalar errores en el Índice a terceros. El ETF de VanEck no está patrocinado, avalado, vendido ni promocionado por MarketVector y MarketVector no hace ninguna declaración sobre la conveniencia de invertir en el ETF. No es posible invertir directamente en un índice.

El rendimiento indicado representa el rendimiento pasado. El rendimiento actual puede ser inferior o superior a la rentabilidad media anual indicada. Los datos de rendimiento de los ETF domiciliados en Irlanda se muestran sobre la base del valor liquidativo, en términos de moneda base, con los ingresos netos reinvertidos, netos de comisiones. La rentabilidad puede aumentar o disminuir como consecuencia de las fluctuaciones cambiarias. Los inversores deben ser conscientes de que, debido a las fluctuaciones del mercado y a otros factores, el rendimiento de los ETF puede variar con el tiempo y deben considerar una perspectiva a medio o largo plazo a la hora de evaluarlo.

Invertir está sujeto a riesgos, incluida la posible pérdida del capital. Para comprar y vender participaciones del OICVM en el mercado secundario, los inversores deben recurrir a un agente (por ejemplo, un intermediario financiero) y, por lo general, no pueden venderlas de nuevo directamente al OICVM. Esto puede acarrear comisiones de intermediación. El precio de compra puede superar o el precio de venta puede ser inferior al valor liquidativo actual. El valor liquidativo indicativo (iNAV) del OICVM está disponible en Bloomberg. La Sociedad Gestora podrá poner fin a la comercialización del OICVM en una o varias jurisdicciones. El resumen de los derechos de los inversores está disponible en inglés en: complaints-procedure.pdf (vaneck.com). Si no conoce algún término técnico, puede consultar el Glosario de ETF | VanEck.

Queda prohibida la reproducción total o parcial de este material, así como cualquier referencia al mismo en cualquier otra publicación, sin la autorización expresa por escrito de VanEck.

© VanEck (Europe) GmbH

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. An investment in the Fund may be subject to product specific risks. These may negatively impact the Fund’s return. All risks are described in detail in the Prospectus and KIID.

The IOPV is calculated by Solactive AG.

No invitation to offer, or offer for, or sale of, the shares of any fund mentioned herein will be made to the People’s Republic of China (“PRC”) (which, for such purposes, does not include the Hong Kong or Macau Special Administrative Regions or Taiwan) or by any means that would be deemed public under the Laws of the PRC. The information relating to any fund mentioned herein has not been submitted to or approved by the China Securities Regulatory Commission or other relevant governmental authorities in the PRC. Such funds may only be offered or sold to investors in the PRC that are expressly authorized under the laws and regulations of the PRC to buy and sell securities denominated in foreign exchange. Potential investors resident in the PRC are responsible for obtaining all relevant approvals from the government authorities of the PRC, including but not limited to the State Administration of Foreign Exchange, before purchasing the shares. This document further does not constitute any securities or investment advice to citizens of the PRC, or nationals with permanent residence in the PRC, or to any corporation, partnership, or other entity incorporated or established in the PRC.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will be subject to the terms and conditions contained therein. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a Fund would be contrary to applicable law or regulation or would subject a Fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a Fund.

Fund shares are not individually redeemable and will be issued and redeemed at their net asset value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading fund shares in the secondary market. Past performance is no guarantee of future results. Returns for an actual fund’s investments may differ from what is shown because of differences in timing, the amount invested and fees and expenses.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

The contents of this material have not been reviewed nor endorsed by any regulatory authority in Hong Kong. Hong Kong residents are advised to exercise caution in relation to this offer. An investment in any fund mentioned herein may not be suitable for everyone. If you are in any doubt about the contents of this material, you should consult your stockbroker, bank manager, solicitor, accountant or other financial adviser for independent professional advice. Such funds are not authorised by the Securities and Futures Commission (“SFC”) in Hong Kong pursuant to Section 104 of the Securities and Futures Ordinance (Cap 571, Laws of Hong Kong) (“SFO”). This material has not been approved by the SFC in Hong Kong, nor has a copy of it been registered with the Registrar of Companies in Hong Kong and, must not, therefore, be issued, or possessed for the purpose of issue, to persons in Hong Kong other than (1) professional investors within the meaning of the SFO (including professional investors as defined by the Securities and Futures (Professional Investors) Rules); or (2) in circumstances which do not constitute an offer to the public for the purposes of the Companies Ordinance (Cap 32, Laws of Hong Kong) or the SFO. This material is distributed on a confidential basis and may not be reproduced in any form or transmitted to any person other than the person to whom it is addressed. No interest/rights/shares in any fund mentioned herein will be issued to any person other than the person to whom this material has been addressed and no person other than such addressee may treat the same as constituting an invitation for him to invest.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. An investment in the Fund may be subject to product specific risks. These may negatively impact the Fund’s return. All risks are described in detail in the Prospectus and KIID.

The IOPV is calculated by Solactive AG.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will be subject to the terms and conditions contained therein. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a Fund would be contrary to applicable law or regulation or would subject a Fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a Fund.

Fund shares are not individually redeemable and will be issued and redeemed at their net asset value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading fund shares in the secondary market. Past performance is no guarantee of future results. Returns for an actual fund’s investments may differ from what is shown because of differences in timing, the amount invested and fees and expenses.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objective.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. An investment in the Fund may be subject to product specific risks. These may negatively impact the Fund’s return. All risks are described in detail in the Prospectus and KIID.

The IOPV is calculated by Solactive AG.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will subject to the terms and conditions contained therein. This material and the information provided herein are not related to a collective investment scheme which is authorised under section 286 of the Securities and Futures Act, Chapter 289 of Singapore (the “SFA”) or recognised under section 287 of the SFA. The Funds mentioned herein are not authorised or recognised by the Monetary Authority of Singapore (the “MAS”) and Shares/Units/Interests are not allowed to be offered to the retail public. This material is not a prospectus as defined in the SFA. Accordingly, statutory liability under the SFA in relation to the content of prospectuses would not apply. You should consider carefully whether the investment is suitable for you.

This material has not been registered as a prospectus with the MAS. Accordingly, this material and any other document or material in connection with it, may not be circulated or distributed, nor may Shares/Units/Interests be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than (i) to an institutional investor under Section 304 of the SFA, (ii) to a relevant person pursuant to Section 305(1), or any person pursuant to Section 305(2), and in accordance with the conditions specified in Section 305 of the SFA, or (iii) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the SFA. Professional advice shall be sought in cases of doubt.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will be subject to the terms and conditions contained therein. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a Fund would be contrary to applicable law or regulation or would subject a Fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a Fund.

Fund shares are not individually redeemable and will be issued and redeemed at their net asset value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading fund shares in the secondary market. Past performance is no guarantee of future results. Returns for an actual fund’s investments may differ from what is shown because of differences in timing, the amount invested and fees and expenses.

VanEck Vectors Gold Miners UCITS ETF (the Fund) is a sub-fund of VanEck Vectors UCITS ETFs plc. (the Umbrella Fund), organised under the laws of Ireland. This document is for illustrative purposes to Investors and their investment consultants and does not constitute legal, tax, or investment advice. You must therefore not rely on the content of this document when making any investment decisions. Any investment decision should be made on the basis of an understanding of the prospectus and the key investor information document (“KIID”), which is available at www.vaneck.com/etf-europe/ and VanEck Investments Limited at its registered office at 25-28 North Wall Quay, Dublin 1, Ireland. Please read these documents before investing and take note of the risk factors. Note: no guarantee can be provided that the Fund will attain its objective. The value of an investment may decline as well as increase. Nothing contained herein constitutes investment, tax or legal advice. All persons interested in investing in the Fund are recommended to seek advice from independent legal and tax advisors in order to ascertain whether the investment is appropriate to their own objectives.

Please note that the information herein may change at any time; current data may differ from data quoted. It is not intended to be a forecast of future results, a comprehensive statement of all of the factors or considerations which may be relevant to an investment. Current market conditions may not continue. Non-VanEck proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission of VanEck. ©2016 VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. An investment in the Fund may be subject to product specific risks. These may negatively impact the Fund’s return. All risks are described in detail in the Prospectus and KIID.

The IOPV is calculated by Solactive AG.

Shares of any fund mentioned herein are being made available in the Republic of China (“R.O.C.”) on a private placement basis only to banks, bills houses, trust enterprises, insurance companies, securities firms, financial holding companies and other qualified entities or institutions (collectively, “Qualified Institutions”) and other entities and individuals meeting specific criteria (“Other Qualified Investors”) pursuant to the private placement provisions of the R.O.C. Rules Governing Offshore Funds. No other offer or sale of the shares in the R.O.C. is permitted. R.O.C. purchasers of the shares may not sell or otherwise dispose of their holdings except by redemption, transfer to a Qualified Institution or Other Qualified Investor, transfer by operation of law or other means approved by the R.O.C. Financial Supervisory Commission.

This material does not constitute an offer to sell or solicitation to buy any security, including shares of any Fund. An offer or solicitation will be made only through a Fund’s prospectus or summary prospectus and will be subject to the terms and conditions contained therein. This material and the information provided herein are not directed at or intended for distribution to any person (or entity) who is a citizen or resident of (or located or established in) any jurisdiction where the distribution of these materials and/or the purchase or sale of interests of a Fund would be contrary to applicable law or regulation or would subject a Fund to any registration or licensing requirement in such jurisdiction. Persons who wish to review this material are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to make an investment in a Fund.

Fund shares are not individually redeemable and will be issued and redeemed at their net asset value (NAV) only through certain authorized broker-dealers in large, specified blocks of shares called “creation units” and otherwise can be bought and sold only through exchange trading. Creation units are issued and redeemed principally in kind. Shares may trade at a premium or discount to their NAV in the secondary market. You will incur brokerage expenses when trading fund shares in the secondary market. Past performance is no guarantee of future results. Returns for an actual fund’s investments may differ from what is shown because of differences in timing, the amount invested and fees and expenses.