Core Insights - The WisdomTree Emerging Markets ex-State-Owned Enterprises Index provides broad exposure to emerging markets while excluding state-owned enterprises, defined as those with government ownership exceeding 20% of shares outstanding [1] Group 1: Index Methodology - The index includes major emerging market listing venues, such as Stock Connect A-shares, and is subject to foreign ownership availability [1] - Constituents are float-adjusted and weighted by modified market capitalization [1] - Quarterly capping rules limit any single position from reaching 24% to 20% and restrict the combined weight of constituents above 5% to 40% if that sum exceeds 50% [1] Group 2: Weighting Adjustments - After excluding state-owned enterprises, country weights are scaled back toward pre-exclusion levels with a country factor capped at 3 times [1] - Sector weights are maintained within ±3% of the starting universe [1] - Onshore China exposure is capped at 7.5%, with any excess allocated to H-shares [1] Group 3: Reconstitution - The index undergoes annual reconstitution in October [1]

Group 1 - The SPDR S&P Software & Services ETF (XSW US) targets U.S. companies classified in Application Software, Systems Software, IT Consulting & Other Services, and Interactive Home Entertainment [1] - Eligibility for inclusion in the index requires a float-adjusted market cap of at least USD 500 million and a liquidity ratio of at least 90% over 12 months, with stricter criteria for companies with a market cap between USD 400 million and USD 500 million [1] - The index employs a modified equal-weight scheme with a maximum single-name cap of 4.5% and rebalances quarterly, with membership reviewed at each rebalance [1]

Core Insights - The iShares Exponential Technologies ETF (XT US) targets global companies involved in "exponential" technologies, focusing on those with a free-float market cap greater than USD 300 million and a 3-month average daily trading volume (ADTV) of at least USD 2 million [1] Group 1: Portfolio Construction Methodology - The underlying index prioritizes the top 10 "theme leaders" per theme based on their scores, aiming for a total of 200 constituents through a cross-theme ranking system [1] - The index is float-market-cap weighted with a single-stock cap of 4%, and core exposure to any theme is capped at 25% [1] - At least 90% of the index weight must have a forecasted 5-year revenue exposure of at least 25% to one theme, with annual reconstitution and quarterly rebalancing [1]

Innovator U.S. Equity Accelerated Plus ETF – July (XTJL US) – Portfolio Construction MethodologyThe investment strategy guiding the actively managed Innovator U.S. Equity Accelerated Plus ETF – July is to deliver leveraged U.S. large-cap equity price exposure by holding a portfolio of exchange-traded FLEX Options referencing the SPDR S&P 500 ETF Trust over a one-year July-to-June outcome period. The fund invests at least 80% of net assets in European-style FLEX Options with synchronized expiries, combining ...

Innovator U.S. Equity Accelerated Plus ETF – October (XTOC US) – Portfolio Construction MethodologyThe investment process governing the actively managed Innovator U.S. Equity Accelerated Plus ETF – October is to shape a defined-outcome exposure to U.S. large-cap equities using FLEX Options on the SPDR S&P 500 ETF Trust over an October-to-September outcome period. The fund keeps at least 80% of net assets in European-style FLEX Options, combining in-the-money, at-the-money and out-of-the-money calls and puts ...

Core Viewpoint - The Global X S&P 500 Tail Risk ETF (XTR US) employs a portfolio construction methodology that combines large-cap US equity exposure with a systematic protective-put overlay to manage risk effectively [1] Group 1: Portfolio Construction - The underlying Cboe S&P 500 Tail Risk Index targets large-cap US equity exposure while integrating a long position in the S&P 500 Index portfolio [1] - The strategy includes a long three-month SPX put option that is approximately 10% out-of-the-money, which is adjusted quarterly [1] - Options are settled on the third Friday of March, June, September, and December, with new puts purchased based on the S&P 500 leg's notional exposure [1] Group 2: Index Maintenance - The strike for new puts is chosen as the listed level closest to, but not below, 90% of the index value just before 11:00 a.m. on the settlement day [1] - New S&P 500 additions are incorporated into the index according to the parent index schedule, without additional liquidity or size screens [1] - Index maintenance primarily occurs through the quarterly options roll, allowing the equity sleeve to inherit the S&P 500's ongoing rebalancing [1]

Core Insights - The Simplify Target 15 Distribution ETF aims to generate monthly income through a combination of short-duration U.S. government bonds and income-oriented option spread strategies on equity indexes and ETFs [1] Group 1: Investment Strategy - The fund primarily invests in U.S. Treasury bills, notes, and bonds, as well as fixed income ETFs that hold similar securities [1] - The interest-rate sleeve is managed toward an average duration of two years or less, with a focus on maximizing yield within that constraint [1] - The adviser employs partially hedged put spreads using over-the-counter options, swaps, and forwards on large-cap, growth, and small-cap equity references [1] Group 2: Target Distribution and Risk Management - The strategy targets an aspirational annualized distribution rate of 15% [1] - Option strikes, maturities, and notionals are selected using a proprietary risk framework, with positions adjusted as options mature or after significant movements in reference assets [1]

Acruence Active Hedge U.S. Equity ETF (XVOL US) – Portfolio Construction MethodologyThe investment process guiding the actively managed Acruence Active Hedge U.S. Equity ETF seeks capital appreciation from a diversified portfolio of U.S. large-capitalization equities with reduced volatility versus the S&P 500. The fund normally invests at least 80% of net assets in equity securities comprising the S&P 500, allocating 40–80 names across dividend-oriented and growth-oriented sleeves informed by industry-level ...

Core Insights - The Global X S&P 500 Covered Call ETF (XYLD US) employs a systematic buy-write strategy on the S&P 500, holding a long position and selling one-month, at-the-money SPX call options [1] - The ETF reinvests option premiums and dividends into the covered portfolio, with short calls held to expiration and cash-settled [1] - The index rebalances monthly, adjusting for S&P 500 constituent changes and using Cboe quotes and VWAP conventions for tradeable option levels [1] Portfolio Construction Methodology - The underlying index targets a buy-write overlay on the S&P 500, with options selected based on the last SPX value before 11:00 a.m. ET on the roll date [1] - Equity weights in the portfolio follow the S&P 500 free float-adjusted market capitalization between rolls [1] - The methodology includes monthly rebalancing on the roll date, resetting the call options and reflecting changes in the S&P 500 constituents [1]

Core Viewpoint - The ProShares Ultra Yen (YCL US) aims to deliver approximately twice the daily return of the Japanese yen against the U.S. dollar through a dynamically managed portfolio of financial instruments rather than holding physical currency [1] Investment Strategy - The fund utilizes a portfolio constructed from swap agreements, futures, and forward contracts that reference the JPYUSD exchange rate [1] - A rules-based model determines the mix and notional size of these instruments to maintain aggregate exposure close to 200 percent of the benchmark at each net asset value calculation [1] - Unencumbered cash is invested in USD cash equivalents, including U.S. Treasury bills and high-quality short-term fixed income, which also serve as margin and collateral [1] Portfolio Management - The portfolio is adjusted daily to reflect movements in the yen, changes in contract values, and investor flows [1] - Positions are resized rather than tactically timed, allowing longer-horizon outcomes to reflect compounding of leveraged, path-dependent daily returns [1]