Defiance Treasury Alternative Yield ETF

Frequently Asked Questions About TRES

What does TRES invest in?

The fund is an actively-managed exchange-traded fund that seeks to generate current income by: (i) investing in U.S. government securities, including U.S. Treasury bills, U.S. Treasury notes, and U.S. Treasury bonds with a targeted portfolio duration of one year or less; and (ii) employing defined risk option strategies. These strategies include credit spreads, debit spreads, long calls, and long puts. To implement these risk strategies, the fund will purchase and sell option contracts on selected exchange-traded Treasury funds. The fund will not invest directly in Treasury ETFs. The fund is non-diversified.

What is the expense ratio of TRES?

Defiance Treasury Alternative Yield ETF (TRES) charges an expense ratio of 0.75%. This is the annual fee deducted from fund assets to cover management and operations.

How big is TRES?

Defiance Treasury Alternative Yield ETF (TRES) manages $3.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is TRES actively managed or an index fund?

TRES's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was TRES launched?

Defiance Treasury Alternative Yield ETF (TRES) launched in March 2014 and is managed by Defiance.

How has TRES performed?

TRES's total return — price change plus reinvested distributions — is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.