Affinity World Leaders Equity ETF

Affinity World
Leaders Equity ETF

As of 02/03/2023

Ticker WLDR	Primary Exchange CBOE BZX EXCHANGE	CUSIP 90214Q105
Inception Date 01/17/2018	Net Assets $37,861,237.48	Shares Outstanding 1,500,000
Distribution Rate -	NAV $25.24	Closing Market Price $25.21
Premium Discount $-0.03	30 Day Median Bid/Ask Spread 0.96%	FACT SHEET

Investment Overview

Fund Objective

The Affinity World Leaders Equity ETF (“the Fund”) seeks to provide investment results that correspond generally, before fees and expenses, to the performance of the Thomson Reuters StarMine Affinity World Leaders Index (the “TRSAWL Index” or the “Index”).

Investment Strategy

The Fund seeks to passively replicate the TRSAWL Index. The TRSAWL Index consists of equity securities issued and traded in the US as well as international countries. The TRSAWL Index is expected to consist of approximately 150 to 250 stocks in at least 3 countries, but may span more than 20 countries. The Fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities included in the Fund’s benchmark index. The Fund may also invest in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) (collectively “Depositary Receipts”) based on the securities in the TRSAWL Index.

Constituents of the TRSAWL Index are characterized by strong global footprint (measured by market capitalization), rank high on measures of earnings quality, demonstrate improving fundamentals (positive earnings revisions on earnings estimates, revenue estimates, price targets, and analyst recommendations), show stock price momentum, and trade at relatively attractive valuations.

Management Team

Investment Partner

Affinity Investment Advisors

Affinity Investment Advisors is a client-centric firm where integrity, transparency, and accountability are integral to the culture of partnership that guides our internal and external interactions. Affinity has been managing active equity portfolios for institutional and private clients since 1992.

Fund Managers

Gregory R. Lai, CFA

Principal, CEO + Lead Portfolio Manager

View Profile

Top Holdings as of 02/03/2023

Market Value %	Name	Market Price	Shares Held	Market Value
2.46%	ULTA BEAUTY INC	$520.76	1,792	$933,201.92
2.24%	AUTOZONE INC	$2,398.51	354	$849,072.54
2.03%	JABIL INC	$82.17	9,365	$769,522.05
1.97%	HEWLETT PACKA	$16.33	45,753	$747,146.49
1.90%	ON SEMICONDUCTOR	$80.89	8,892	$719,273.88
1.90%	INTERPUBLIC GRP	$39.11	18,362	$718,137.82
1.85%	HP INC	$30.51	22,932	$699,655.32
1.82%	DELL TECHN-C	$42.24	16,331	$689,821.44
1.82%	OMNICOM GROUP	$91.71	7,518	$689,475.78
1.63%	BERKSHIRE HATH-B	$308.51	2,003	$617,945.53

Market Value: 2.46%
Name: ULTA BEAUTY INC
Market Price: $520.76
Shares Held: 1,792
Market Value: $933,201.92

Market Value: 2.24%
Name: AUTOZONE INC
Market Price: $2,398.51
Shares Held: 354
Market Value: $849,072.54

Market Value: 2.03%
Name: JABIL INC
Market Price: $82.17
Shares Held: 9,365
Market Value: $769,522.05

Market Value: 1.97%
Name: HEWLETT PACKA
Market Price: $16.33
Shares Held: 45,753
Market Value: $747,146.49

Market Value: 1.90%
Name: ON SEMICONDUCTOR
Market Price: $80.89
Shares Held: 8,892
Market Value: $719,273.88

Market Value: 1.90%
Name: INTERPUBLIC GRP
Market Price: $39.11
Shares Held: 18,362
Market Value: $718,137.82

Market Value: 1.85%
Name: HP INC
Market Price: $30.51
Shares Held: 22,932
Market Value: $699,655.32

Market Value: 1.82%
Name: DELL TECHN-C
Market Price: $42.24
Shares Held: 16,331
Market Value: $689,821.44

Market Value: 1.82%
Name: OMNICOM GROUP
Market Price: $91.71
Shares Held: 7,518
Market Value: $689,475.78

Market Value: 1.63%
Name: BERKSHIRE HATH-B
Market Price: $308.51
Shares Held: 2,003
Market Value: $617,945.53

Download All Holdings (.CSV)

Fees

Adviser Fee	Total Expense Ratio	Total Expense Cap
0.47%	1.59%	0.67%*

*The Fund’s Adviser has contractually agreed to reduce the Fund’s fees and/or absorb expenses of the Fund until at least February 28, 2023 to ensure that the net annual fund operating expenses will not exceed 0.67%.

Documents

SAI – MAR 1, 2022	Prospectus – MAR 1, 2022	Prospectus Summary – MAR 1, 2022
Prospectus Supplement – JAN 2, 2020	Market Events – APR 1, 2020	Annual Report – OCT 31, 2022
Semi Annual Report – APR 30, 2022	Premium/Discount History – DEC 31, 2022	Premium/Discount History – SEP 30, 2022
Fund Holdings – JUL 31, 2022	Fund Holdings – JAN 31, 2022

Download All Documents

The median bid-ask spread is calculated by identifying the national best bid and national best offer (“NBBO”) for each fund as of the end of each 10 second interval during each trading day of the last 30 calendar days and dividing the difference between each such bid and offer by the midpoint of the NBBO. The median of those values is identified and that value is expressed as a percentage rounded to the nearest hundredth.

Investors should carefully consider the investment objective, risks, charges and expenses of ETF Funds. This and other information is contained in the prospectus and should be read carefully before investing. For a prospectus please call 866-866-4848 or visit our website at regentsparkfunds. com. Regents Park Funds are distributed by Northern LightsDistributors, LLC, member FINRA/SIPC. Northern Lights Distributors, LLC and Regents Park Funds, LLC are not affiliated.

DISCLOSURE:
IMPORTANT RISK FACTORS

New funds provide a limited history of operations for investors to evaluate. As with all funds, there is a risk that you could lose money through your investment in these Funds. Many factors affect the Fund’s net asset value and performance. There is no guarantee that the investment will achieve its objectives, generate profits or avoid losses. The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Investing in commodities or futures markets may subject the Fund to greater volatility than investments in traditional securities. These risks include (i) leverage risk (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value of the futures contract may not correlate perfectly with the underlying index. There are risks associated with the sale and purchase of call and put options through the Fund’s underlying investments. The use of derivative instruments could lead to potentially greater gains, as well as the potential for greater losses than a fund that does not use derivatives.