HOLIDAY 2022 MACRO
GOD REST YE MERRY RIAs
(Sung to “God Rest Ye Merry Gentlemen,” 15th-century traditional English carol)
(One minute of joyous singing)
God rest ye merry RIAs
You’ve all been led astray
Did you think all central banks
Were meant to save the day?
Protect us from inflation’s wrath
We’re all in disarray
Oh, tidings of comfort and joy
Comfort and joy
Oh, tidings of comfort and joy
God rest ye merry RIAs
Price hikes are here to stay
QT was just a requisite
Yet only launched in May
To save us from consumer’s rage
Some thought it was passé
Oh, tidings of comfort and joy
Comfort and joy
Oh, tidings of comfort and joy
In Philly and in Cleveland town
Our blessed Fed was born
And laid within a time-free zone
Its actions often scorned
That which old Father Volcker did
Might come to be the norm
Oh, tidings of comfort and joy
Comfort and joy
Oh, tidings of comfort and joy
Fear not, said the righteous Fed
Let nothing you affright
I’m raising all our interest rates
Some tell me it’s not right
To free all those who trust in him
From labor’s power and might
Oh, tidings of comfort and joy
Comfort and joy
Oh, tidings of comfort and joy
God rest ye merry RIA’s
It seems you’ve lost your way
Remember all those higher rates
Were born from fiscal fray
To save us all from labor’s rage
Their raises now in play
Oh, tidings of comfort and joy
Comfort and joy
Oh, tidings of comfort and joy
George Lucaci
Global Head of Distribution
FolioBeyond.com
908 723 3372 cell
https://www.etfs.foliobeyond.com/risr
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Fund, please call (866) 497-4963 or visit our website at www.etfs.foliobeyond.com. Read the prospectus or summary prospectus carefully before investing.
Investments involve risk. Principal loss is possible. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value. The fund is new and has limited operating history to judge fund risks. The value of MBS IOs is more volatile than other types of mortgage related securities. They are very sensitive not only to declining interest rates, but also to the rate of prepayments. MBS IOs involve the risk that borrowers may default on their mortgage obligations or the guarantees underlying the mortgage-backed securities will default or otherwise fail and that, during periods of falling interest rates, mortgage-backed securities will be called or prepaid, which may result in the Fund having to reinvest proceeds in other investments at a lower interest rate.
The Fund’s derivative investments have risks, including the imperfect correlation between the value of such instruments and the underlying assets or index; the loss of principal, including the potential loss of amounts greater than the initial amount invested in the derivative instrument. The value of the Fund’s investments in fixed income securities (not including MBS IOs) will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned indirectly by the Fund. Please see the prospectus for a complete description of principal risks.
Diversification does not eliminate the risk of experiencing investment losses.
Distributed by Foreside Fund Services, LLC.
| Yung Lim | Dean Smith | George Lucaci |
|---|---|---|
| Chief Executive Officer | Chief Strategist and Marketing Officer | Global Head of Distribution |
| Chief Investment Officer | RISR Portfolio Manager | |
| ylim@foliobeyond.com | dsmith@foliobeyond.com | glucaci@foliobeyond.com |
| 917-892-9075 | 914-523-2180 | 908-723-3372 |