ETC Gavekal Asia Pacific Government Bond ETF

AGOV is a Global Ex. US Bonds ETF. The Fund is an actively-managed exchange-traded fund ( ETF ) that seeks to achieve its investment objective by investing in local currency bonds issued by national governments (i.e., sovereign bonds) and instrumentalities or political sub-divisions (i.e., quasi-sovereign bonds) in the Asia-Pacific region ( Asia-Pacific government bonds ). Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in Asia-Pacific government bonds. The Fund also may invest in bonds issued by supranational entities such as the World Bank, Asia Development Bank, and Asian Infrastructure Bank (i.e., supranational bonds). The Fund may invest without limit in securities of issuers in emerging markets, including frontier markets. The Asia-Pacific government bonds in which the Fund expects to invest are those from China, India, Indonesia, Singapore, South Korea, Russia, Japan, Malaysia, Taiwan, Thailand, Hong Kong, the Philippines, Pakistan, Vietnam, Sri Lanka, Kazakhstan, Australia, and New Zealand. Gavekal Capital Limited, the Fund s sub-adviser (the Sub-Adviser ), currently expects to allocate at least 3% of the Fund s total assets to Asia-Pacific government bonds of each country. The list of countries in which the Fund may invest may change from time to time to include other countries in the Asia-Pacific region.

Yes, AGOV is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, AGOV is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on AGOV is -0.0306%. This is the percent change in the value of AGOV over the most recent 1-month period. The 3-month return on AGOV is -0.038%. This is the percent change in the value of AGOV over the most recent 3-month period.

The standard deviation of AGOV for the past year is 0.2026%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to AGOV include SHY, TLT, and IEI.

ETFs correlated to AGOV include USIG, QLTA, and LQD.

ETFs that are inversely correlated to AGOV include TSLR, CONY, and SJB.