Overall Ratings Based on Risk-Adjusted Returns

Today, Defiance ETFs, a leading thematic ETF provider, announced that both its Defiance Next Gen Connectivity ETF (FIVG) and the Defiance Machine Learning and Quantum ETF (QTUM) have received 5-star Overall ratings from Morningstar, based on risk-adjusted returns as of 6/30/22. FIVG was rated among 46 funds in the communications category and QTUM was rated among 262 funds in the technology category.

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FIVG & QTUM 5 Star Morning Star Rating (Graphic: Business Wire)

Both FIVG and QTUM were brought to market to offer targeted exposure to transformative technologies and services focused on powering 5G technology and quantum computing.

About Defiance ETFs

Defiance’s dynamic suite of thematic ETFs allows retail and institutional investors to express a targeted view on dynamic sectors that are leading the way in disruptive innovations

Important Information

The Funds' investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company. Please read carefully before investing. A hard copy of the prospectus or summary prospectus can be requested by calling 833.333.9383 or by visiting www.defianceetfs.com.

Investing involves risk. Principal loss is possible. As an ETF, the Funds may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. The Funds are not actively-managed and would not sell a security due to current or projected under performance unless that security is removed from the Index or is required upon a reconstitution of the Index. The Funds incur operating expenses and portfolio transaction costs not incurred by the Index. In addition, the Fund may not be fully invested in the securities of the index at all times or may hold securities not included in the index known as tracking error. The funds are considered non-diversified and a portfolio concentrated in a single industry or country, may be subject to a higher degree of risk.

The value of stocks of 5G and information technology companies are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition.

Past performance is no guarantee of future results.

As of 6/30/22, FIVG was rated 5 stars for the 3-year period among 46 funds in the communications category. QTUM was rated 5 stars for the 3-year period among 262 of funds in the technology category.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star.

The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three-rating periods.

©2022 Morningstar, Inc. All Rights Reserved. The information herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Defiance ETFs are distributed by Foreside Fund Services, LLC.

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