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Leuthold Core ETF

We believe that purchasing a collection of asset classes has the potential to provide steady growth and foster long-term investment success. Adding the element of flexibility toward portfolio weightings will complement the asset diversification and increase the opportunities to make the most of special market and economic attributes that surface as business cycles evolve.

ETF Summary

As of July 10, 2020
  • Fund Inception:
    1/6/2020
  • Ticker:
    LCR
  • Net Assets:
    $7,070,576
  • Shares Outstanding:
    275,000
  • Primary Exchange:
    NYSE
  • CUSIP:
    527289 789
  • Fund Type:
    Tactical Asset Allocation
  • Investment Objective:
    Capital appreciation and income (or "total return")
  • Management Fee:
    0.50%
  • Other Expenses:
    0.62%
  • Acquired Fund Fee & Expenses:
    0.21%
  • Expense Reimbursement:
    -0.47
  • Total Annual Fund Operating Expenses After Expense Reimbursement:
    0.86%
  • Portfolio Managers:
    Doug Ramsey, Scott Opsal, Chun Wang
  • Number of Holdings:
    25

Documents

Prospectus
Statement of Additional Information

Fund Prices

as of July 10, 2020
NAV Price
Net Asset Value $25.71 Closing Price $25.76
Daily Change $0.07 Daily Change $0.13
Daily Change 0.26% Daily Change 0.52%
    Premium/Discount 0.2%
Bid-Ask Spead (30 day median) 0.20%

Month End Performance

as of June 30, 2020
Cumulative
1 MO. 3 MO. 6 MO. SINCE INCEPTION
Fund NAV 1.49% 11.39% NA% 1.02%
Closing Price 1.50% 11.93% NA% 1.36%
Avg. Annualized
1 YR. 3 YR. 5 YR. SINCE INCEPTION
Fund NAV NA% NA% NA% NA%
Closing Price NA% NA% NA% NA%

Quarter End Performance

as of June 30, 2020
Avg. Annualized
1 YR. 3 YR. 5 YR. SINCE INCEPTION
Fund NAV NA% NA% NA% NA%
Closing Price NA% NA% NA% NA%

Percentage of Net Assets Name Identifier (Cusip) Shares Held Market Value
17.53% Cash & Other Cash&Other $1,239,823.59
16.58% SELECT SECTOR SPDR TR TECHNOLOGY XLK (81369Y803) 10,848 $1,172,451.84
9.09% SELECT SECTOR SPDR TR COMMUNICATION XLC (81369Y852) 11,145 $643,066.50
6.43% SELECT SECTOR SPDR TR SBI INT-FINL XLF (81369Y605) 19,389 $454,865.94
5.90% SELECT SECTOR SPDR TR SBI CONS DISCR XLY (81369Y407) 3,128 $416,993.68
4.97% ISHARES GOLD TRUST ISHARES IAU (464285105) 20,456 $351,434.08
4.58% SPDR BARCLAYS CAPITAL INTL TREASURY BOND ETF BWX (78464A516) 11,104 $323,570.56
4.01% ISHARES TR US HLTHCR PR ETF IHF (464288828) 1,476 $283,488.24
3.84% ISHARES TR NASDAQ BIOTECH IBB (464287556) 1,949 $271,320.29
2.78% SELECT SECTOR SPDR TR SBI HEALTHCARE XLV (81369Y209) 1,949 $196,283.79
2.55% SPDR SER TR S&P SEMICNDCTR XSD (78464A862) 1,533 $180,234.81
2.51% ISHARES TRUST DJ HOME CONSTN ITB (464288752) 3,929 $177,630.09
2.40% ISHARES INC CORE MSCI EMKT IEMG (46434G103) 3,300 $169,818.00
2.29% ISHARES TR MBS ETF MBB (464288588) 1,464 $161,918.40
2.23% ISHARES TR INTRM TR CRP ETF IGIB (464288638) 2,601 $157,360.50
2.05% SPDR SER TR SPDR BLOOMBERG BIL (78468R663) 1,584 $144,999.36
1.99% ISHARES TR IBOXX INV CP ETF LQD (464287242) 1,037 $140,897.19
1.96% INVESCO CURRENCYSHARES EURO TR EURO SHS FXE (46138K103) 1,298 $138,366.80
1.63% INVESCO CURRENCYSHARES JAPANES JAPANESE YEN FXY (46138W107) 1,298 $114,937.90
1.58% VANECK VECTORS ETF TR PHARMACEUTICAL PPH (92189F692) 1,820 $111,711.60
1.04% ISHARES INC MSCI GBL GOLD MN RING (46434G855) 2,325 $73,493.25
0.96% SPDR SER TR BLOMBRG BRC INTL IBND (78464A151) 1,996 $68,203.32
0.75% SPDR SER TR S&P RETAIL ETF XRT (78464A714) 1,211 $53,380.88
0.34% INVESCO CURRENCYSHARES BRIT PO BRIT POUN STRL FXB (46138M109) 198 $24,205.50
-12.36% SP500 MIC EMIN FUTSEP20 HWAU0 INDEX (HWAU0) -55 $-874,060.00

The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. The Prospectus contains this and other information about the Fund. For a current Prospectus, call toll-free 1-866-306-8117. Please read the Prospectus carefully before you invest. Investing involves risk, including the possibility of loss of principal.

Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. The Adviser has voluntarily agreed to reimburse fees. This agreement may change or end at any time. Performance would have been lower without expense reimbursement in effect.

Risks of Investing in the Fund

Asset Allocation Risk: The Fund may favor an asset category or investment strategy that performs poorly to other asset categories and investment strategies for short or long periods of time.

Foreign and Emerging Markets Securities Risk: Investments in securities and instruments traded in developing or emerging markets, or that provide exposure to such securities, can involve additional risks relating to political, economic, or regulatory conditions not associated with investment in U.S. securities and instruments.

Market Risks: Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as market confidence and perceptions of their issuers change.

Fixed Income Securities Risk: Issuers of bonds may not be able to make interest or principal payments, or may suffer adverse changes in financial condition that could lower the credit quality.

Quantitative Investment Approach Risk: The Fund utilizes a quantitative investment approach. There may be market conditions where the quantitative investment approach performs poorly.

Managed Futures Strategy/Commodities Risk: Investments in managed futures programs or commodities may subject an Underlying Investment to greater volatility than investments in traditional securities.

Sector Risk: The Fund’s investing approach may dictate an emphasis on certain sectors, industries, or sub-sectors of the market. The Fund may invest more heavily in one sector, industry, or sub-sector; or may lack exposure to one or more sectors, which may adversely affect performance.

Distributor: Compass Distributors, LLC