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Products

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$21.27
- $0.22
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIACash&OtherCash&OtherCash & Other1,111,8301.0000001111829.954.98%22337490.00105000021Y
05/23/2019WBIAMMS577933104MAXIMUS INC15,12772.8900001102607.034.94%22337490.001050000210.00
05/23/2019WBIAPOOL73278L105POOL CORPORATION5,817183.2100001065732.574.77%22337490.001050000210.00
05/23/2019WBIAXEC171798101CIMAREX ENERGY CO15,47368.5900001061293.074.75%22337490.001050000210.00
05/23/2019WBIABAH099502106BOOZ ALLEN HAMILTON HLDG CORP CL A16,80062.1200001043616.004.67%22337490.001050000210.00
05/23/2019WBIACIT125581801CIT GROUP INC19,74750.520000997618.444.47%22337490.001050000210.00
05/23/2019WBIAWEN95058W100WENDYS CO51,42519.090000981703.254.39%22337490.001050000210.00
05/23/2019WBIALTXB52471Y106LEGACY TEX FINL GROUP INC24,03339.310000944737.234.23%22337490.001050000210.00
05/23/2019WBIAALLEG0176J109ALLEGION PUB LTD CO9,32099.930000931347.604.17%22337490.001050000210.00
05/23/2019WBIADOXG02602103AMDOCS LTD15,27360.830000929056.594.16%22337490.001050000210.00
05/23/2019WBIAPKG695156109PACKAGING CORP AMER10,09792.090000929832.734.16%22337490.001050000210.00
05/23/2019WBIAHUBB443510607HUBBELL INC7,770118.860000923542.204.13%22337490.001050000210.00
05/23/2019WBIAOSK688239201OSHKOSH CORP11,98876.570000917921.164.11%22337490.001050000210.00
05/23/2019WBIAFMC302491303F M C CORP12,51973.230000916766.374.10%22337490.001050000210.00
05/23/2019WBIALZB505336107LA Z BOY INC27,03933.200000897694.804.02%22337490.001050000210.00
05/23/2019WBIAPHM745867101PULTE GROUP INC27,68032.120000889081.603.98%22337490.001050000210.00
05/23/2019WBIAAAN002535300AARONS INC16,05055.230000886441.503.97%22337490.001050000210.00
05/23/2019WBIASLGN827048109SILGAN HOLDINGS INC29,55829.910000884079.783.96%22337490.001050000210.00
05/23/2019WBIAWSM969904101WILLIAMS SONOMA INC15,33054.230000831345.903.72%22337490.001050000210.00
05/23/2019WBIAPRI74164M108PRIMERICA INC6,744122.230000824319.123.69%22337490.001050000210.00
05/23/2019WBIAHOMB436893200HOME BANCSHARES INC43,35018.220000789837.003.54%22337490.001050000210.00
05/23/2019WBIAASB045487105ASSOCIATED BANC CORP31,52821.470000676906.163.03%22337490.001050000210.00
05/23/2019WBIABWXT05605H100BWX TECHNOLOGIES INC12,28948.080000590855.122.65%22337490.001050000210.00
05/23/2019WBIAMDC552676108M D C HLDGS INC17,05431.880000543681.522.43%22337490.001050000210.00
05/23/2019WBIAIPG460690100INTERPUBLIC GROUP COS INC19,95522.610000451182.552.02%22337490.001050000210.00
05/23/2019WBIASFBS81768T108SERVISFIRST BANCSHARES INC6,17433.270000205408.980.92%22337490.001050000210.00
Fund Goals

  • Manage risk to capital
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in small and midcap domestic and foreign securities with improving fundamental growth trends

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
1,050,000
22.34
$21.26
1,235
-0.09%
1.08%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
3.52%
3.52%
5.52%
-5.67%
2.17%
-1.94%
Market
3.55%
3.55%
5.61%
-6.29%
2.33%
-1.95%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-4.55
1.93
1.93
-10.13
0.67
-2.71
Market
-4.55
1.99
1.99
-10.43
0.69
-2.72

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
0.51%
WBIA Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
Cash & Other
MAXIMUS INC
POOL CORPORATION
CIMAREX ENERGY CO
BOOZ ALLEN HAMILTON HLDG CORP CL A
CIT GROUP INC
WENDYS CO
LEGACY TEX FINL GROUP INC
ALLEGION PUB LTD CO
AMDOCS LTD
4.98%
4.94%
4.77%
4.75%
4.67%
4.47%
4.39%
4.23%
4.17%
4.16%
1,111,830
15,127
5,817
15,473
16,800
19,747
51,425
24,033
9,320
15,273
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$22.60
- $0.23
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIBCash&OtherCash&OtherCash & Other6,727,9381.0000006727937.9321.26%31645880.00140000028Y
05/23/2019WBIBLAD536797103LITHIA MTRS INC15,924114.5200001823616.485.76%31645880.001400000280.00
05/23/2019WBIBKBH48666K109KB HOME58,07026.3800001531886.604.84%31645880.001400000280.00
05/23/2019WBIBLDOS525327102LEIDOS HLDGS INC19,72376.9700001518079.314.80%31645880.001400000280.00
05/23/2019WBIBLM524901105LEGG MASON INC39,41737.1200001463159.044.62%31645880.001400000280.00
05/23/2019WBIBTGNA87901J105TEGNA INC92,25215.6700001445588.844.57%31645880.001400000280.00
05/23/2019WBIBCVI12662P108CVR ENERGY INC29,09946.4200001350775.584.27%31645880.001400000280.00
05/23/2019WBIBORI680223104OLD REP INTL CORP58,14422.7100001320450.244.17%31645880.001400000280.00
05/23/2019WBIBRGA759351604REINSURANCE GRP OF AMERICA INC COM NEW8,643151.6900001311056.674.14%31645880.001400000280.00
05/23/2019WBIBSON835495102SONOCO PRODS CO20,70762.3100001290253.174.08%31645880.001400000280.00
05/23/2019WBIBSLGN827048109SILGAN HOLDINGS INC42,99129.9100001285860.814.06%31645880.001400000280.00
05/23/2019WBIBXRX984121608XEROX CORP39,55931.8500001259954.153.98%31645880.001400000280.00
05/23/2019WBIBHBI410345102HANESBRANDS INC76,19516.4000001249598.003.95%31645880.001400000280.00
05/23/2019WBIBSIGI816300107SELECTIVE INS GROUP INC16,90072.3100001222039.003.86%31645880.001400000280.00
05/23/2019WBIBTOL889478103TOLL BROTHERS INC32,56036.6000001191696.003.77%31645880.001400000280.00
05/23/2019WBIBWHR963320106WHIRLPOOL CORP8,792131.0000001151752.003.64%31645880.001400000280.00
05/23/2019WBIBUNM91529Y106UNUM GROUP32,82234.5800001134984.763.59%31645880.001400000280.00
05/23/2019WBIBBYD103304101BOYD GAMING CORP42,55525.6400001091110.203.45%31645880.001400000280.00
05/23/2019WBIBMLI624756102MUELLER INDS INC30,46628.020000853657.322.70%31645880.001400000280.00
05/23/2019WBIBIPG460690100INTERPUBLIC GROUP COS INC28,26522.610000639071.652.02%31645880.001400000280.00
05/23/2019WBIBPKG695156109PACKAGING CORP AMER4,63992.090000427205.511.35%31645880.001400000280.00
05/23/2019WBIBCAKE163072101CHEESECAKE FACTORY INC7,37648.170000355301.921.12%31645880.001400000280.00
Fund Goals

  • Manage risk to capital
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in small and midcap domestic and foreign securities with consistent fundamentals and strong value characteristics

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
1,400,000
31.65
$22.59
3,072
-0.06%
1.06%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
7.07%
7.07%
12.50%
-2.27%
3.92%
-0.64%
Market
6.82%
6.82%
12.52%
-3.18%
3.90%
-0.67%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-1.39
5.07
5.07
-10.35
1.39
-2.11
Market
-1.28
5.34
5.34
-10.70
1.45
-2.10

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
0.36%
WBIB Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
Cash & Other
LITHIA MTRS INC
KB HOME
LEIDOS HLDGS INC
LEGG MASON INC
TEGNA INC
CVR ENERGY INC
OLD REP INTL CORP
REINSURANCE GRP OF AMERICA INC COM NEW
SONOCO PRODS CO
21.26%
5.76%
4.84%
4.80%
4.62%
4.57%
4.27%
4.17%
4.14%
4.08%
6,727,938
15,924
58,070
19,723
39,417
92,252
29,099
58,144
8,643
20,707
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$19.09
- $0.21
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBICCash&OtherCash&OtherCash & Other13,475,2211.00000013475220.8922.06%61075200.00320000064Y
05/23/2019WBICSSWY75638109SEASPAN CORP327,6989.4600003100023.085.08%61075200.003200000640.00
05/23/2019WBICWYND98310W108WYNDHAM DESTINATIONS INC68,85442.9000002953836.604.84%61075200.003200000640.00
05/23/2019WBICREG3223R108EVEREST RE GROUP LTD11,757250.3300002943129.814.82%61075200.003200000640.00
05/23/2019WBICPACW695263103PACWEST BANCORP DEL76,45937.9700002903148.234.75%61075200.003200000640.00
05/23/2019WBICMDP589433101MEREDITH CORP49,45157.2200002829586.224.63%61075200.003200000640.00
05/23/2019WBICSON835495102SONOCO PRODS CO43,94662.3100002738275.264.48%61075200.003200000640.00
05/23/2019WBICIPG460690100INTERPUBLIC GROUP COS INC118,12022.6100002670693.204.37%61075200.003200000640.00
05/23/2019WBICIBOC459044103INTERNATIONAL BANCSHARES CORP COM64,31440.4100002598928.744.26%61075200.003200000640.00
05/23/2019WBICCAKE163072101CHEESECAKE FACTORY INC51,62248.1700002486631.744.07%61075200.003200000640.00
05/23/2019WBICOMF68268W103ONEMAIN HLDGS INC77,16531.8800002460020.204.03%61075200.003200000640.00
05/23/2019WBICDK24665A103DELEK US HLDGS INC NEW67,37636.1600002436316.163.99%61075200.003200000640.00
05/23/2019WBICHBI410345102HANESBRANDS INC147,25516.4000002414982.003.95%61075200.003200000640.00
05/23/2019WBICDIN254423106DINE BRANDS GLOBAL INC27,37887.6300002399134.143.93%61075200.003200000640.00
05/23/2019WBICHWC410120109HANCOCK WHITNEY CORPORATION60,20039.8400002398368.003.93%61075200.003200000640.00
05/23/2019WBICHNI404251100HNI CORP61,80435.5600002197750.243.60%61075200.003200000640.00
05/23/2019WBICHUBB443510607HUBBELL INC18,322118.8600002177752.923.57%61075200.003200000640.00
05/23/2019WBICMDC552676108M D C HLDGS INC64,13431.8800002044591.923.35%61075200.003200000640.00
05/23/2019WBICSCS858155203STEELCASE INC98,90517.0400001685341.202.76%61075200.003200000640.00
05/23/2019WBICNHC635906100NATIONAL HEALTHCARE CORP19,26579.2400001526558.602.50%61075200.003200000640.00
05/23/2019WBICARDL0223L101ARDAGH GROUP S A29,93414.840000444220.560.73%61075200.003200000640.00
05/23/2019WBICPRK700658107PARK NATL CORP1,93997.890000189808.710.31%61075200.003200000640.00
Fund Goals

  • Manage risk to capital
  • Generate an attractive current yield that helps to promote compounding
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in small and midcap domestic and foreign securities that present themselves as undervalued opportunities with attractive dividend yields

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
3,200,000
61.08
$19.07
9,593
-0.11%
1.06%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
3.02%
3.02%
1.73%
-6.82%
0.91%
-3.23%
Market
2.80%
2.80%
1.64%
-7.73%
0.93%
-3.28%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-6.00
-1.26
-1.26
-8.92
-0.60
-3.92
Market
-5.84
-1.13
-1.13
-9.12
-0.54
-3.92

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
2.45%
WBIC Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
Cash & Other
SEASPAN CORP
WYNDHAM DESTINATIONS INC
EVEREST RE GROUP LTD
PACWEST BANCORP DEL
MEREDITH CORP
SONOCO PRODS CO
INTERPUBLIC GROUP COS INC
INTERNATIONAL BANCSHARES CORP COM
CHEESECAKE FACTORY INC
22.06%
5.08%
4.84%
4.82%
4.75%
4.63%
4.48%
4.37%
4.26%
4.07%
13,475,221
327,698
68,854
11,757
76,459
49,451
43,946
118,120
64,314
51,622
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$19.93
- $0.20
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIDLPLA50212V100LPL FINL HLDGS INC8,44984.560000714447.445.12%13949810.00700000140.00
05/23/2019WBIDCAKE163072101CHEESECAKE FACTORY INC13,70148.170000659977.174.73%13949810.00700000140.00
05/23/2019WBIDLSTR515098101LANDSTAR SYS INC6,210104.730000650373.304.66%13949810.00700000140.00
05/23/2019WBIDEVTC30040P103EVERTEC INC22,47728.400000638346.804.58%13949810.00700000140.00
05/23/2019WBIDGNTX371901109GENTEX CORP28,33722.080000625680.964.49%13949810.00700000140.00
05/23/2019WBIDEHC29261A100ENCOMPASS HEALTH CORP10,29459.940000617022.364.42%13949810.00700000140.00
05/23/2019WBIDCHE16359R103CHEMED CORP NEW1,787337.110000602415.574.32%13949810.00700000140.00
05/23/2019WBIDHBI410345102HANESBRANDS INC36,75716.400000602814.804.32%13949810.00700000140.00
05/23/2019WBIDIPG460690100INTERPUBLIC GROUP COS INC26,21722.610000592766.374.25%13949810.00700000140.00
05/23/2019WBIDPHM745867101PULTE GROUP INC18,41432.120000591457.684.24%13949810.00700000140.00
05/23/2019WBIDMLHR600544100MILLER HERMAN INC15,53437.840000587806.564.21%13949810.00700000140.00
05/23/2019WBIDCR224399105CRANE CO7,08582.120000581820.204.17%13949810.00700000140.00
05/23/2019WBIDSSD829073105SIMPSON MANUFACTURING CO INC COM8,99563.730000573251.354.11%13949810.00700000140.00
05/23/2019WBIDWGO974637100WINNEBAGO INDS INC16,71233.330000557010.963.99%13949810.00700000140.00
05/23/2019WBIDLTXB52471Y106LEGACY TEX FINL GROUP INC14,08739.310000553759.973.97%13949810.00700000140.00
05/23/2019WBIDMLI624756102MUELLER INDS INC19,41128.020000543896.223.90%13949810.00700000140.00
05/23/2019WBIDLKFN511656100LAKELAND FINL CORP11,63546.670000543005.453.89%13949810.00700000140.00
05/23/2019WBIDBANF05945F103BANCFIRST CORP9,75654.980000536384.883.85%13949810.00700000140.00
05/23/2019WBIDWSM969904101WILLIAMS SONOMA INC9,86654.230000535033.183.84%13949810.00700000140.00
05/23/2019WBIDTOL889478103TOLL BROTHERS INC14,60536.600000534543.003.83%13949810.00700000140.00
05/23/2019WBIDOSK688239201OSHKOSH CORP6,96076.570000532927.203.82%13949810.00700000140.00
05/23/2019WBIDPRI74164M108PRIMERICA INC3,599122.230000439905.773.15%13949810.00700000140.00
05/23/2019WBIDITT45073V108ITT INC6,48259.360000384771.522.76%13949810.00700000140.00
05/23/2019WBIDRS759509102RELIANCE STEEL & ALUMINUM CO COM2,60586.450000225202.251.61%13949810.00700000141432.75
05/23/2019WBIDIOSP45768S105INNOSPEC INC2,40881.800000196974.401.41%13949810.00700000140.00
05/23/2019WBIDCash&OtherCash&OtherCash & Other187,0851.000000187084.741.34%13949810.0070000014Y
05/23/2019WBIDEME29084Q100EMCOR GROUP INC1,71381.840000140191.921.00%13949810.00700000140.00
Fund Goals

  • Manage risk to capital
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in small and midcap domestic and foreign securities with attractive value characteristics and prospects for financial stability

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
700,000
13.95
$19.91
488
-0.12%
1.06%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.77%
0.77%
-0.31%
-10.12%
1.98%
-3.21%
Market
0.86%
0.86%
-0.22%
-10.95%
2.08%
-3.21%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-4.76
-1.07
-1.07
-11.34
1.07
-3.42
Market
-4.82
-1.07
-1.07
-11.84
1.09
-3.45

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
0.95%
WBID Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
LPL FINL HLDGS INC
CHEESECAKE FACTORY INC
LANDSTAR SYS INC
EVERTEC INC
GENTEX CORP
ENCOMPASS HEALTH CORP
CHEMED CORP NEW
HANESBRANDS INC
INTERPUBLIC GROUP COS INC
PULTE GROUP INC
5.12%
4.73%
4.66%
4.58%
4.49%
4.42%
4.32%
4.32%
4.25%
4.24%
8,449
13,701
6,210
22,477
28,337
10,294
1,787
36,757
26,217
18,414
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$26.60
- $0.24
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIECash&OtherCash&OtherCash & Other4,574,7421.0000004574741.689.83%46549825.00175000035Y
05/23/2019WBIEPGR743315103PROGRESSIVE CORP OHIO29,25680.4500002353645.205.06%46549825.001750000350.00
05/23/2019WBIECOG127097103CABOT OIL & GAS CORP88,02526.6000002341465.005.03%46549825.001750000350.00
05/23/2019WBIEHSY427866108HERSHEY CO17,710130.7180002315015.784.97%46549825.0017500003512786.62
05/23/2019WBIECMCSA20030N101COMCAST CORP NEW48,63043.3000002105679.004.52%46549825.001750000350.00
05/23/2019WBIENDAQ631103108NASDAQ INC23,15690.3600002092376.164.49%46549825.001750000350.00
05/23/2019WBIETSCO892356106TRACTOR SUPPLY CO20,111102.9000002069421.904.45%46549825.001750000350.00
05/23/2019WBIEROST778296103ROSS STORES INC21,43294.5300002025966.964.35%46549825.001750000350.00
05/23/2019WBIENOC666807102NORTHROP GRUMMAN CORP6,269316.6300001984953.474.26%46549825.001750000350.00
05/23/2019WBIEMSI620076307MOTOROLA SOLUTIONS INC12,859152.6300001962669.174.22%46549825.001750000350.00
05/23/2019WBIENEE65339F101NEXTERA ENERGY INC9,592201.9300001936912.564.16%46549825.001750000350.00
05/23/2019WBIEHON438516106HONEYWELL INTL INC11,297168.4900001903431.534.09%46549825.001750000359263.54
05/23/2019WBIERCLV7780T103ROYAL CARIBBEAN CRUISES LTD15,187124.9600001897767.524.08%46549825.001750000350.00
05/23/2019WBIEPNC693475105PNC FINL SVCS GROUP INC14,298132.0200001887621.964.06%46549825.001750000350.00
05/23/2019WBIEUNH91324P102UNITEDHEALTH GROUP INC7,518249.3400001874538.124.03%46549825.001750000350.00
05/23/2019WBIETJX872540109TJX COS INC NEW36,21951.7200001873246.684.02%46549825.001750000350.00
05/23/2019WBIEHD437076102HOME DEPOT INC9,488188.9100001792378.083.85%46549825.001750000350.00
05/23/2019WBIENTAP64110D104NETAPP INC26,05067.1000001747955.003.76%46549825.001750000350.00
05/23/2019WBIECE150870103CELANESE CORP DEL17,036100.1100001705473.963.66%46549825.001750000350.00
05/23/2019WBIEATVI00507V109ACTIVISION BLIZZARD INC39,28842.9100001685848.083.62%46549825.001750000350.00
05/23/2019WBIESCHW808513105THE CHARLES SCHWAB CORPORATION COM34,81043.5700001516671.703.26%46549825.001750000350.00
05/23/2019WBIELOW548661107LOWES COS INC14,45397.9400001415526.823.04%46549825.001750000350.00
05/23/2019WBIECFG174610105CITIZENS FINL GROUP INC29,63434.8800001033633.922.22%46549825.001750000350.00
05/23/2019WBIEBBT054937107BB&T CORP8,80248.990000431209.980.93%46549825.001750000350.00
Fund Goals

  • Manage risk to capital
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in large-cap domestic and foreign securities with improving fundamental growth trends

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
1,750,000
46.55
$26.58
4,193
-0.07%
1.05%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
5.67%
5.67%
9.81%
7.76%
8.69%
2.71%
Market
5.66%
5.66%
9.81%
7.17%
8.77%
2.69%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-1.60
3.91
3.91
1.67
6.29
1.54
Market
-1.52
3.92
3.92
1.60
6.31
1.52

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
0.93%
WBIE Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
Cash & Other
PROGRESSIVE CORP OHIO
CABOT OIL & GAS CORP
HERSHEY CO
COMCAST CORP NEW
NASDAQ INC
TRACTOR SUPPLY CO
ROSS STORES INC
NORTHROP GRUMMAN CORP
MOTOROLA SOLUTIONS INC
9.83%
5.06%
5.03%
4.97%
4.52%
4.49%
4.45%
4.35%
4.26%
4.22%
4,574,742
29,256
88,025
17,710
48,630
23,156
20,111
21,432
6,269
12,859
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$27.50
- $0.21
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIFCash&OtherCash&OtherCash & Other9,894,4941.0000009894494.2126.65%37129590.00135000027Y
05/23/2019WBIFAXP025816109AMERICAN EXPRESS CO15,466120.0100001856074.665.00%37129590.001350000270.00
05/23/2019WBIFSYF87165B103SYNCHRONY FINL52,52535.2400001850981.004.99%37129590.001350000270.00
05/23/2019WBIFSJM832696405SMUCKER J M CO14,360127.2800001827740.804.92%37129590.001350000270.00
05/23/2019WBIFBBY086516101BEST BUY INC25,04369.1700001732224.314.67%37129590.001350000270.00
05/23/2019WBIFNTAP64110D104NETAPP INC25,56167.1000001715143.104.62%37129590.001350000270.00
05/23/2019WBIFAAPL037833100APPLE INC9,281182.7800001696381.184.57%37129590.001350000270.00
05/23/2019WBIFVZ92343V104VERIZON COMMUNICATIONS INC28,60459.2500001694787.004.56%37129590.001350000270.00
05/23/2019WBIFNOC666807102NORTHROP GRUMMAN CORP5,149316.6300001630327.874.39%37129590.001350000270.00
05/23/2019WBIFCOF14040H105CAPITAL ONE FINL CORP17,76891.2600001621507.684.37%37129590.001350000270.00
05/23/2019WBIFOMC681919106OMNICOM GROUP INC19,92779.7800001589776.064.28%37129590.001350000270.00
05/23/2019WBIFCE150870103CELANESE CORP DEL15,840100.1100001585742.404.27%37129590.001350000270.00
05/23/2019WBIFRJF754730109RAYMOND JAMES FINANCIAL INC18,30085.1000001557330.004.19%37129590.001350000270.00
05/23/2019WBIFNXPIN6596X109NXP SEMICONDUCTORS N V16,22793.6400001519496.284.09%37129590.001350000270.00
05/23/2019WBIFRTN755111507RAYTHEON CO8,273180.5300001493524.694.02%37129590.001350000270.00
05/23/2019WBIFUNH91324P102UNITEDHEALTH GROUP INC5,984249.3400001492050.564.02%37129590.001350000270.00
05/23/2019WBIFTELH84989104TE CONNECTIVITY LTD16,70888.0390001470955.613.96%37129590.001350000276532.83
05/23/2019WBIFUSB902973304US BANCORP DEL9,39751.850000487234.451.31%37129590.001350000270.00
05/23/2019WBIFSCHW808513105THE CHARLES SCHWAB CORPORATION COM9,45343.570000411867.211.11%37129590.001350000270.00
Fund Goals

  • Manage risk to capital
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in large-cap domestic and foreign securities with consistent fundamentals and strong value characteristics

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
1,350,000
37.13
$27.50
2,984
-0.01%
1.05%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
2.50%
2.50%
4.57%
4.13%
10.57%
3.69%
Market
2.46%
2.46%
4.41%
3.52%
10.66%
3.67%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-2.71
2.02
2.02
-0.02
9.07
3.20
Market
-2.70
1.90
1.90
-0.34
9.11
3.19

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
1.26%
WBIF Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
Cash & Other
AMERICAN EXPRESS CO
SYNCHRONY FINL
SMUCKER J M CO
BEST BUY INC
NETAPP INC
APPLE INC
VERIZON COMMUNICATIONS INC
NORTHROP GRUMMAN CORP
CAPITAL ONE FINL CORP
26.65%
5.00%
4.99%
4.92%
4.67%
4.62%
4.57%
4.56%
4.39%
4.37%
9,894,494
15,466
52,525
14,360
25,043
25,561
9,281
28,604
5,149
17,768
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$24.27
- $0.06
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIGVZ92343V104VERIZON COMMUNICATIONS INC80,77059.2500004785622.504.99%95880720.003950000790.00
05/23/2019WBIGPM718172109PHILIP MORRIS INTL INC53,94085.4900004611330.604.81%95880720.003950000790.00
05/23/2019WBIGT00206R102AT&T INC142,92932.2800004613748.124.81%95880720.003950000790.00
05/23/2019WBIGSJM832696405SMUCKER J M CO36,037127.2800004586789.364.78%95880720.003950000790.00
05/23/2019WBIGXOM30231G102EXXON MOBIL CORP59,36275.5600004485392.724.68%95880720.003950000790.00
05/23/2019WBIGJCIG51502105JOHNSON CTLS INTL PLC113,80239.2100004462176.424.65%95880720.003950000790.00
05/23/2019WBIGCCEPG25839104COCA COLA EUROPEAN PARTNERS P SHS78,80556.2284844431085.684.62%95880720.0039500007954494.92
05/23/2019WBIGHIG416515104HARTFORD FINL SVCS GROUP INC COM79,74654.2100004323030.664.51%95880720.003950000790.00
05/23/2019WBIGGILD375558103GILEAD SCIENCES INC62,66666.5000004167289.004.35%95880720.003950000790.00
05/23/2019WBIGIP460146103INTL PAPER CO93,37843.8900004098360.424.27%95880720.003950000790.00
05/23/2019WBIGOMC681919106OMNICOM GROUP INC50,92479.7800004062716.724.24%95880720.003950000790.00
05/23/2019WBIGETNG29183103EATON CORP PLC51,45278.9300004061106.364.24%95880720.003950000790.00
05/23/2019WBIGTRV89417E109TRAVELERS COMPANIES INC26,997147.9600003994476.124.17%95880720.003950000790.00
05/23/2019WBIGDAL247361702DELTA AIR LINES INC DEL73,12154.0600003952921.264.12%95880720.003950000790.00
05/23/2019WBIGTAP60871R209MOLSON COORS BREWING CO65,25759.2500003866477.254.03%95880720.003950000790.00
05/23/2019WBIGSYF87165B103SYNCHRONY FINL108,73435.2400003831786.164.00%95880720.003950000790.00
05/23/2019WBIGDRI237194105DARDEN RESTAURANTS INC30,995123.0300003813314.853.98%95880720.003950000790.00
05/23/2019WBIGCMI231021106CUMMINS INC23,011162.3600003736065.963.90%95880720.0039500007926232.54
05/23/2019WBIGEXC30161N101EXELON CORP75,44949.2700003717372.233.88%95880720.003950000790.00
05/23/2019WBIGUSB902973304US BANCORP DEL63,12051.8500003272772.003.41%95880720.003950000790.00
05/23/2019WBIGIBM459200101INTERNATIONAL BUSINESS MACHS COM22,866136.3500003117779.103.25%95880720.003950000790.00
05/23/2019WBIGVIAB92553P201VIACOM INC NEW106,92728.8100003080566.873.21%95880720.003950000790.00
05/23/2019WBIGLMT539830109LOCKHEED MARTIN CORP6,373341.3000002175104.902.27%95880720.003950000790.00
05/23/2019WBIGPNC693475105PNC FINL SVCS GROUP INC13,058132.0200001723917.161.80%95880720.003950000790.00
05/23/2019WBIGPRU744320102PRUDENTIAL FINL INC12,55599.6500001251105.751.30%95880720.003950000790.00
05/23/2019WBIGCash&OtherCash&OtherCash & Other895,5871.000000895586.640.93%95880720.00395000079Y
05/23/2019WBIGBBT054937107BB&T CORP15,52348.990000760471.770.79%95880720.003950000790.00
Fund Goals

  • Manage risk to capital
  • Generate an attractive current yield that helps to promote compounding
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in large-cap domestic and foreign securities that present themselves as undervalued opportunities with attractive dividend yields

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
3,950,000
95.88
$24.26
8,506
-0.08%
1.04%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.65%
0.65%
6.02%
0.34%
7.83%
0.95%
Market
0.61%
0.61%
6.11%
0.00%
7.87%
0.92%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.56
5.34
5.34
-1.79
7.15
0.83
Market
0.68
5.47
5.47
-2.15
7.18
0.80

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
2.43%
WBIG Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
VERIZON COMMUNICATIONS INC
PHILIP MORRIS INTL INC
AT&T INC
SMUCKER J M CO
EXXON MOBIL CORP
JOHNSON CTLS INTL PLC
COCA COLA EUROPEAN PARTNERS P SHS
HARTFORD FINL SVCS GROUP INC COM
GILEAD SCIENCES INC
INTL PAPER CO
4.99%
4.81%
4.81%
4.78%
4.68%
4.65%
4.62%
4.51%
4.35%
4.27%
80,770
53,940
142,929
36,037
59,362
113,802
78,805
79,746
62,666
93,378
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$26.67
- $0.16
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBILOMC681919106OMNICOM GROUP INC14,36679.7800001146119.484.78%24001920.00900000180.00
05/23/2019WBILKO191216100COCA COLA CO22,83249.6500001133608.804.72%24001920.00900000180.00
05/23/2019WBILORCL68389X105ORACLE CORP20,63254.2000001118254.404.66%24001920.00900000180.00
05/23/2019WBILCINF172062101CINCINNATI FINL CORP10,83699.6400001079699.044.50%24001920.00900000180.00
05/23/2019WBILCCEPG25839104COCA COLA EUROPEAN PARTNERS P SHS18,84156.2284841059400.874.41%24001920.009000001813028.85
05/23/2019WBILACNG1151C101ACCENTURE PLC IRELAND5,785180.3900001043556.154.35%24001920.00900000180.00
05/23/2019WBILCHD171340102CHURCH & DWIGHT INC13,92274.1400001032177.084.30%24001920.00900000180.00
05/23/2019WBILNKE654106103NIKE INC12,36483.2000001028684.804.29%24001920.00900000180.00
05/23/2019WBILPG742718109PROCTER AND GAMBLE CO9,420106.7200001005302.404.19%24001920.00900000180.00
05/23/2019WBILV92826C839VISA INC6,115164.2400001004327.604.18%24001920.00900000180.00
05/23/2019WBILDRI237194105DARDEN RESTAURANTS INC8,054123.030000990883.624.13%24001920.00900000180.00
05/23/2019WBILJNJ478160104JOHNSON & JOHNSON7,128138.760000989081.284.12%24001920.00900000180.00
05/23/2019WBILBR11133T103BROADRIDGE FINL SOLUTIONS INC COM8,001123.170000985483.174.11%24001920.00900000180.00
05/23/2019WBILSYY871829107SYSCO CORP13,02275.410000981989.024.09%24001920.00900000180.00
05/23/2019WBILMMC571748102MARSH & MCLENNAN COS INC10,07397.290000980002.174.08%24001920.00900000180.00
05/23/2019WBILWMT931142103WALMART INC9,578102.230000979158.944.08%24001920.00900000180.00
05/23/2019WBILCDW12514G108CDW CORP9,011105.795000953318.753.97%24001920.00900000182658.25
05/23/2019WBILFDS303075105FACTSET RESH SYS INC3,321280.540000931673.343.88%24001920.00900000180.00
05/23/2019WBILHD437076102HOME DEPOT INC4,908188.910000927170.283.86%24001920.00900000180.00
05/23/2019WBILROST778296103ROSS STORES INC9,72394.530000919115.193.83%24001920.00900000180.00
05/23/2019WBILTJX872540109TJX COS INC NEW17,69451.720000915133.683.81%24001920.00900000180.00
05/23/2019WBILLOW548661107LOWES COS INC9,29597.940000910352.303.79%24001920.00900000180.00
05/23/2019WBILTRV89417E109TRAVELERS COMPANIES INC5,625147.960000832275.003.47%24001920.00900000180.00
05/23/2019WBILPEP713448108PEPSICO INC5,740130.070000746601.803.11%24001920.00900000180.00
05/23/2019WBILPFE717081103PFIZER INC4,87741.990000204785.230.85%24001920.00900000180.00
05/23/2019WBILCash&OtherCash&OtherCash & Other102,9611.000000102961.310.43%24001920.0090000018Y
Fund Goals

  • Manage risk to capital
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in large-cap domestic and foreign securities with attractive value characteristics and prospects for financial stability

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
900,000
24.00
$26.65
1,265
-0.07%
1.07%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
4.43%
4.43%
11.82%
5.71%
9.38%
2.65%
Market
4.46%
4.46%
11.79%
5.19%
9.50%
2.64%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.81
7.08
7.08
-0.34
7.45
1.74
Market
0.79
7.02
7.02
-0.75
7.45
1.72

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
0.69%
WBIL Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
OMNICOM GROUP INC
COCA COLA CO
ORACLE CORP
CINCINNATI FINL CORP
COCA COLA EUROPEAN PARTNERS P SHS
ACCENTURE PLC IRELAND
CHURCH & DWIGHT INC
NIKE INC
PROCTER AND GAMBLE CO
VISA INC
4.78%
4.72%
4.66%
4.50%
4.41%
4.35%
4.30%
4.29%
4.19%
4.18%
14,366
22,832
20,632
10,836
18,841
5,785
13,922
12,364
9,420
6,115
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$24.60
$0.01
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIISJNK78468R408SPDR SERIES TRUST BLOOMBERG SRT TR2,070,65427.14000056197549.5639.05%143912925.0058500001170.00
05/23/2019WBIISHYG46434V407ISHARES TR 0-5YR HI YL CP1,207,51246.51000056161383.1239.02%143912925.0058500001170.00
05/23/2019WBIIIGOV464288117ISHARES TR INTL TREA BD ETF160,19448.5900007783826.465.41%143912925.0058500001170.00
05/23/2019WBIIIGLB464289511ISHARES TR LNG TR CRPRT BD119,86960.2500007222107.255.02%143912925.0058500001170.00
05/23/2019WBIIIGIB464288638ISHARES TR INTRM TR CRP ETF130,52055.2500007211230.005.01%143912925.0058500001170.00
05/23/2019WBIIHYEM92189F353VANECK VECTORS ETF TR EMERGING MKTS HI168,68423.3111003932209.592.73%143912925.0058500001170.00
05/23/2019WBIIEMB464288281ISHARES TR JPMORGAN USD EMG35,891109.5200003930782.322.73%143912925.0058500001170.00
05/23/2019WBIICash&OtherCash&OtherCash & Other1,470,4561.0000001470456.451.02%143912925.005850000117Y
Fund Goals

  • Manage risk to capital
  • Generate high current yield that helps to promote compounding
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in income-producing debt and equity securities of foreign and domestic companies

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
5,850,000
143.91
$24.57
12,271
-0.12%
1.28%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.89%
0.89%
4.00%
6.96%
2.55%
2.00%
Market
0.92%
0.92%
4.06%
6.74%
2.60%
1.97%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.97
3.08
3.08
4.36
2.07
1.84
Market
0.93
3.11
3.11
4.13
1.96
1.80

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
4.36%
WBII Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
SPDR SERIES TRUST BLOOMBERG SRT TR
ISHARES TR 0-5YR HI YL CP
ISHARES TR INTL TREA BD ETF
ISHARES TR LNG TR CRPRT BD
ISHARES TR INTRM TR CRP ETF
VANECK VECTORS ETF TR EMERGING MKTS HI
ISHARES TR JPMORGAN USD EMG
Cash & Other
39.05%
39.02%
5.41%
5.02%
5.01%
2.73%
2.73%
1.02%
2,070,654
1,207,512
160,194
119,869
130,520
168,684
35,891
1,470,456
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$21.92
- $0.11
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIHSHYG46434V407ISHARES TR 0-5YR HI YL CP322,82346.51000015014497.7322.83%65757300.003000000600.00
05/23/2019WBIHSJNK78468R408SPDR SERIES TRUST BLOOMBERG SRT TR553,10627.14000015011296.8422.83%65757300.003000000600.00
05/23/2019WBIHPM718172109PHILIP MORRIS INTL INC37,58885.4900003213398.124.89%65757300.003000000600.00
05/23/2019WBIHT00206R102AT&T INC96,22532.2800003106143.004.72%65757300.003000000600.00
05/23/2019WBIHVZ92343V104VERIZON COMMUNICATIONS INC49,80459.2500002950887.004.49%65757300.003000000600.00
05/23/2019WBIHIP460146103INTL PAPER CO61,64143.8900002705423.494.11%65757300.003000000600.00
05/23/2019WBIHGILD375558103GILEAD SCIENCES INC40,06166.5000002664056.504.05%65757300.003000000600.00
05/23/2019WBIHPKG695156109PACKAGING CORP AMER27,84692.0900002564338.143.90%65757300.003000000600.00
05/23/2019WBIHXOM30231G102EXXON MOBIL CORP32,93875.5600002488795.283.78%65757300.003000000600.00
05/23/2019WBIHHBI410345102HANESBRANDS INC146,36016.4000002400304.003.65%65757300.003000000600.00
05/23/2019WBIHCash&OtherCash&OtherCash & Other2,277,2191.0000002277218.763.46%65757300.00300000060Y
05/23/2019WBIHETNG29183103EATON CORP PLC18,23478.9300001439209.622.19%65757300.003000000600.00
05/23/2019WBIHIPG460690100INTERPUBLIC GROUP COS INC58,42422.6100001320966.642.01%65757300.003000000600.00
05/23/2019WBIHWYND98310W108WYNDHAM DESTINATIONS INC27,06342.9000001161002.701.77%65757300.003000000600.00
05/23/2019WBIHNAVI63938C108NAVIENT CORPORATION85,83713.2200001134765.141.73%65757300.003000000600.00
05/23/2019WBIHFNB302520101FNB CORP PA92,37911.5800001069748.821.63%65757300.003000000600.00
05/23/2019WBIHPRU744320102PRUDENTIAL FINL INC10,48299.6500001044531.301.59%65757300.003000000600.00
05/23/2019WBIHIGLB464289511ISHARES TR LNG TR CRPRT BD17,26760.2500001040336.751.58%65757300.003000000600.00
05/23/2019WBIHIGIB464288638ISHARES TR INTRM TR CRP ETF18,53855.2500001024224.501.56%65757300.003000000600.00
05/23/2019WBIHMDP589433101MEREDITH CORP14,05057.220000803941.001.22%65757300.003000000600.00
05/23/2019WBIHIGOV464288117ISHARES TR INTL TREA BD ETF13,98148.590000679336.791.03%65757300.003000000600.00
05/23/2019WBIHHYEM92189F353VANECK VECTORS ETF TR EMERGING MKTS HI13,80523.311100321809.740.49%65757300.003000000600.00
05/23/2019WBIHEMB464288281ISHARES TR JPMORGAN USD EMG2,902109.520000317827.040.48%65757300.003000000600.00
Fund Goals

  • Manage risk to capital
  • Generate high current yield that helps to promote compounding
  • Seeks to provide attractive returns and long-term growth of capital
  • Typically invests in income-producing debt and equity securities of foreign and domestic companies

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Expense Ratio
3,000,000
65.76
$21.90
11,160
-0.09%
1.23%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
0.41%
0.41%
4.11%
-1.97%
1.81%
0.15%
Market
0.48%
0.48%
4.03%
-2.05%
1.81%
0.13%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 8/25/2014
NAV
-0.56
3.68
3.68
-4.46
1.42
0.07
Market
-0.54
3.53
3.53
-4.71
1.28
0.03

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield
3.82%
WBIH Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
ISHARES TR 0-5YR HI YL CP
SPDR SERIES TRUST BLOOMBERG SRT TR
PHILIP MORRIS INTL INC
AT&T INC
VERIZON COMMUNICATIONS INC
INTL PAPER CO
GILEAD SCIENCES INC
PACKAGING CORP AMER
EXXON MOBIL CORP
HANESBRANDS INC
22.83%
22.83%
4.89%
4.72%
4.49%
4.11%
4.05%
3.90%
3.78%
3.65%
322,823
553,106
37,588
96,225
49,804
61,641
40,061
27,846
32,938
146,360
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$22.89
- $0.04
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIRCash&OtherCash&OtherCash & Other3,315,7151.0000003315714.9318.11%18312560.0080000016Y
05/23/2019WBIREWG464286806ISHARES INC MSCI GERMAN78,08927.8600002175559.5411.88%18312560.00800000160.00
05/23/2019WBIRPBE46137V787INVESCO EXCHANGE TRADED FD TR DYNMC BIOTECH40,05250.1200002007406.2410.96%18312560.00800000160.00
05/23/2019WBIRIJR464287804ISHARES TR CORE S&P SCP ETF24,14776.5500001848452.8510.09%18312560.00800000160.00
05/23/2019WBIRXLRE81369Y860SELECT SECTOR SPDR TR RL EST SEL SEC42,15636.5200001539537.128.41%18312560.00800000160.00
05/23/2019WBIRCEMB464286251ISHARES INC JP MRG EM CRP BD27,94949.8000001391860.207.60%18312560.00800000160.00
05/23/2019WBIRVBK922908595VANGUARD INDEX FDS SML CP GRW ETF7,436179.3400001333572.247.28%18312560.00800000160.00
05/23/2019WBIRIGF464288372ISHARES TR GLB INFRASTR ETF28,53145.1900001289315.897.04%18312560.00800000160.00
05/23/2019WBIRPGX46138E511INVESCO EXCHNG TRADED FD TR II PFD ETF83,77114.5500001218868.056.66%18312560.00800000160.00
05/23/2019WBIRTIP464287176ISHARES BARCLAYS TIPS BOND FUND10,379113.4800001177808.926.43%18312560.00800000160.00
05/23/2019WBIRVIG921908844VANGUARD GROUP DIV APP ETF9,089111.5700001014059.735.54%18312560.00800000160.00
Fund Goals

  • Strives to provide global asset rotation, high risk-adjusted returns, and protect capital during unfavorable periods
  • May invest in any global asset class, geographic region, country, index, sector, industry, currency, or cash equivalents

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Net/Gross Expense Ratio
800,000
18.31
$22.88
2,358
-0.07%
1.64% / 1.58%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 7/25/2016
NAV
-0.16%
-0.16%
2.91%
-5.47%
 
-1.05%
Market
-0.05%
-0.05%
2.87%
-5.72%
 
-1.06%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 7/25/2016
NAV
0.21
3.08
3.08
-4.94
 
-1.02
Market
0.15
2.92
2.92
-5.03
 
-1.07

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield 30-Day Unsubsidized SEC Yield
1.19%
0.85%
WBIR Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
Cash & Other
ISHARES INC MSCI GERMAN
INVESCO EXCHANGE TRADED FD TR DYNMC BIOTECH
ISHARES TR CORE S&P SCP ETF
SELECT SECTOR SPDR TR RL EST SEL SEC
ISHARES INC JP MRG EM CRP BD
VANGUARD INDEX FDS SML CP GRW ETF
ISHARES TR GLB INFRASTR ETF
INVESCO EXCHNG TRADED FD TR II PFD ETF
ISHARES BARCLAYS TIPS BOND FUND
18.11%
11.88%
10.96%
10.09%
8.41%
7.60%
7.28%
7.04%
6.66%
6.43%
3,315,715
78,089
40,052
24,147
42,156
27,949
7,436
28,531
83,771
10,379
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Fund Information
As of: 05/22/2019
NAV Daily Change Fact Sheet Holdings
$24.49
- $0.29
DateAccountStockTickerCUSIPSecurityNameSharesPriceMarketValueWeightingsNetAssetsSharesOutstandingCreationUnitsMoneyMarketFlagIncomeByPosition
05/23/2019WBIYABBV00287Y109ABBVIE INC76,23081.5900006219605.705.35%116333675.004750000950.00
05/23/2019WBIYF345370860FORD MTR CO DEL619,5409.9700006176813.805.31%116333675.004750000950.00
05/23/2019WBIYT00206R102AT&T INC186,54432.2800006021640.325.18%116333675.004750000950.00
05/23/2019WBIYVZ92343V104VERIZON COMMUNICATIONS INC100,86759.2500005976369.755.14%116333675.004750000950.00
05/23/2019WBIYCVX166764100CHEVRON CORP NEW47,392120.5700005714053.444.91%116333675.004750000950.00
05/23/2019WBIYIBM459200101INTERNATIONAL BUSINESS MACHS COM41,719136.3500005688385.654.89%116333675.004750000950.00
05/23/2019WBIYSTXG7945M107SEAGATE TECHNOLOGY PLC118,31844.7100005289997.784.55%116333675.004750000950.00
05/23/2019WBIYVLO91913Y100VALERO ENERGY CORP NEW65,48980.3500005262041.154.52%116333675.004750000950.00
05/23/2019WBIYIPG460690100INTERPUBLIC GROUP COS INC195,58322.6100004422131.633.80%116333675.004750000950.00
05/23/2019WBIYWRK96145D105WESTROCK CO122,05435.2200004298741.883.70%116333675.004750000950.00
05/23/2019WBIYIP460146103INTL PAPER CO90,74143.8900003982622.493.42%116333675.004750000950.00
05/23/2019WBIYM55616P104MACYS INC167,97021.8500003670144.503.15%116333675.004750000950.00
05/23/2019WBIYLYBN53745100LYONDELLBASELL INDUSTRIES N V SHS - A -44,90580.6500003621588.253.11%116333675.004750000950.00
05/23/2019WBIYHRB093671105BLOCK H & R INC132,77826.9600003579694.883.08%116333675.004750000950.00
05/23/2019WBIYWDC958102105WESTERN DIGITAL CORP77,58242.1900003273184.582.81%116333675.004750000950.00
05/23/2019WBIYTPR876030107TAPESTRY INC93,71930.8600002892168.342.49%116333675.004750000950.00
05/23/2019WBIYPACW695263103PACWEST BANCORP DEL48,64037.9700001846860.801.59%116333675.004750000950.00
05/23/2019WBIYGIS370334104GENERAL MLS INC34,77552.7100001832990.251.58%116333675.004750000950.00
05/23/2019WBIYIVZG491BT108INVESCO LTD84,09720.7500001745012.751.50%116333675.004750000950.00
05/23/2019WBIYCash&OtherCash&OtherCash & Other1,737,9651.0000001737965.031.49%116333675.00475000095Y
05/23/2019WBIYNYCB649445103NEW YORK CMNTY BANCORP INC160,16610.2400001640099.841.41%116333675.004750000950.00
05/23/2019WBIYPAGP72651A207PLAINS GP HLDGS L P65,47624.2100001585173.961.36%116333675.004750000950.00
05/23/2019WBIYUMPQ904214103UMPQUA HLDGS CORP91,06016.8300001532539.801.32%116333675.004750000950.00
05/23/2019WBIYHOG412822108HARLEY DAVIDSON INC43,10135.1800001516293.181.30%116333675.004750000950.00
05/23/2019WBIYFNB302520101FNB CORP PA127,11811.5800001472026.441.27%116333675.004750000950.00
05/23/2019WBIYWU959802109WESTERN UN CO73,80119.4700001436905.471.24%116333675.004750000950.00
05/23/2019WBIYHBAN446150104HUNTINGTON BANCSHARES INC102,88113.3300001371403.731.18%116333675.004750000950.00
05/23/2019WBIYMET59156R108METLIFE INC28,47248.1300001370357.361.18%116333675.004750000950.00
05/23/2019WBIYPFG74251V102PRINCIPAL FINL GROUP INC24,70154.9200001356578.921.17%116333675.004750000950.00
05/23/2019WBIYKEY493267108KEYCORP NEW80,80916.7100001350318.391.16%116333675.004750000950.00
05/23/2019WBIYPBCT712704105PEOPLES UTD FINL INC81,74116.2100001325021.611.14%116333675.004750000950.00
05/23/2019WBIYPRU744320102PRUDENTIAL FINL INC13,13899.6500001309201.701.13%116333675.004750000950.00
05/23/2019WBIYNAVI63938C108NAVIENT CORPORATION97,04213.2200001282895.241.10%116333675.004750000950.00
05/23/2019WBIYCVI12662P108CVR ENERGY INC26,42046.4200001226416.401.05%116333675.004750000950.00
05/23/2019WBIYPDCO703395103PATTERSON COMPANIES INC50,90922.5300001146979.770.99%116333675.004750000950.00
05/23/2019WBIYBGS05508R106B & G FOODS INC NEW49,49822.2800001102815.440.95%116333675.004750000950.00
05/23/2019WBIYCHS168615102CHICOS FAS INC274,7793.540000972717.660.84%116333675.004750000950.00
05/23/2019WBIYTLRD87403A107TAILORED BRANDS INC142,5726.660000949529.520.82%116333675.004750000950.00
05/23/2019WBIYVIRT928254101VIRTU FINL INC40,68223.370000950738.340.82%116333675.004750000950.00
05/23/2019WBIYWDR930059100WADDELL & REED FINL INC54,69117.120000936309.920.80%116333675.004750000950.00
05/23/2019WBIYODP676220106OFFICE DEPOT INC446,5161.995000890799.420.77%116333675.0047500009511162.90
05/23/2019WBIYGCI36473H104GANNETT CO INC94,6487.850000742986.800.64%116333675.004750000950.00
05/23/2019WBIYHOPE43940T109HOPE BANCORP INC54,30113.730000745552.730.64%116333675.004750000950.00
05/23/2019WBIYPETS716382106PETMED EXPRESS INC39,49718.630000735829.110.63%116333675.004750000950.00
05/23/2019WBIYAPAM04316A108ARTISAN PARTNERS ASSET MGMT IN CL A26,98425.610000691060.240.59%116333675.004750000950.00
05/23/2019WBIYGEF397624107GREIF INC17,77436.400000646973.600.56%116333675.004750000950.00
05/23/2019WBIYBPFH101119105BOSTON PRIVATE FINL HLDGS INC COM52,07311.120000579051.760.50%116333675.004750000950.00
05/23/2019WBIYHAFC410495204HANMI FINL CORP26,44722.050000583156.350.50%116333675.004750000950.00
05/23/2019WBIYKRO50105F105KRONOS WORLDWIDE INC43,55813.170000573658.860.49%116333675.004750000950.00
05/23/2019WBIYSWM808541106SCHWEITZER-MAUDUIT INTL INC16,41132.300000530075.300.46%116333675.004750000957220.84
05/23/2019WBIYNEWM64704V106NEW MEDIA INVT GROUP INC56,4069.330000526267.980.45%116333675.004750000950.00
Fund Goals

  • Multi-factor smart beta ETF
  • Power Factor™ approach focuses on generating the highest dividend yield with a deep value bias and multi-factor fundamental analysis to confirm quality
  • Designed to track the Solactive Power Factor™ High Dividend Index

Prices
As of: 05/22/2019
Shares Outstanding Fund Size ($M) Closing Bid/Ask (Midpoint) Daily Volume Premium/Discount Net/Gross Expense Ratio
4,750,000
116.33
$24.47
12,280
-0.11%
0.70% / 0.85%
Performance Month End
As of: 04/30/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 12/19/2016
NAV
3.66%
3.66%
15.39%
2.52%
 
6.16%
Market
3.66%
3.66%
15.87%
2.07%
 
6.13%
Performance Quarter End
As of: 03/31/2019
Name MTD QTD YTD 1 Year 3 Year Since Inception 12/19/2016
NAV
-1.12
11.31
11.31
0.74
 
4.72
Market
-1.10
11.78
11.78
0.57
 
4.70

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.  The performance data quoted represents past performance and is not a 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. For most recent month-end performance, please see the monthly performance tab.

Fund Characteristics
As of: 4/30/2019
30-Day SEC Yield 30-Day Unsubsidized SEC Yield
4.39%
4.41%

WBIY Top Holdings
As of: 05/23/2019
Security Name Weightings Shares
ABBVIE INC
FORD MTR CO DEL
AT&T INC
VERIZON COMMUNICATIONS INC
CHEVRON CORP NEW
INTERNATIONAL BUSINESS MACHS COM
SEAGATE TECHNOLOGY PLC
VALERO ENERGY CORP NEW
INTERPUBLIC GROUP COS INC
WESTROCK CO
5.35%
5.31%
5.18%
5.14%
4.91%
4.89%
4.55%
4.52%
3.80%
3.70%
76,230
619,540
186,544
100,867
47,392
41,719
118,318
65,489
195,583
122,054
Premium/Discount

The chart above shows the difference between the daily price for shares of the Fund and the Fund’s NAV (net asset value). The premium or discount is presented on the vertical axis of the chart and is shown as a percentage of NAV. The number of trading days in the period covered by the chart is indicated on the horizontal axis. The bars in the chart display the number of trading days in which the Fund traded within the premium/discount range shown. The horizontal bar for the range of ≥0.0 up to 0.5 includes the days that the Fund’s daily price matched its NAV (i.e. there was no premium or discount).

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in creation units only. Total returns are calculated using the daily 4:00 p.m. EST net asset value (NAV). Market price returns reflect the last trade on a given date where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.

An investment in the Funds is subject to risk, including the possible loss of principal. The Funds may invest in foreign and emerging market securities which carry additional risks than investing in the United States such as currency fluctuation, economic or financial instability, and lack of timely or reliable financial information or unfavorable political or legal developments. The Funds are subject to model risk, the investment process includes the use of proprietary models and analysis which rely on third party data and if inaccurate could adversely affect the Fund performance. The Funds may invest in REITs and will be subject to the risks associated with the direct ownership of real estate and annual compliance with tax files applicable to REITs. Risks commonly associated with the direct ownership of real estate include fluctuations in the value of underlying properties, defaults by borrowers or tenants, changes in interest rates and risk related to general or local economic conditions.

The Funds may invest in Exchange Traded Funds (ETFs), mutual funds and Exchange Traded Notes (ETNs) which will subject the Funds to additional expenses of each ETF, mutual fund or ETN and risk of owning the underlying securities held by each. Options on securities may be subject to greater fluctuations in value than an investment in the underlying securities. Master Limited Partnership risk entails risks such as fluctuations in energy prices, decrease in supply of or demand for energy commodities.

In addition, the Funds are subject to market risk, management risk, dividend risk, growth risk, value risk, debt security risk, high-yield security risk, small and medium company risk, portfolio turnover risk, securities business risk, mortgage-backed securities risk, and trading price risk. New ETFs may also be subject to “new fund” risk in that it has no operating history and that its strategy may not be viable over time.

In addition, there are risks specific to WBIY. The Fund invests in high yielding stocks, which are often speculative, high risk investments. These companies can be paying out more than they can support and may reduce their dividends or stop paying dividends at any time, which could have a material adverse effect on the stock price of these companies and the Fund’s performance. The Fund is not actively managed and the Sub-Advisor does not attempt to take defensive positions in declining markets. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index.