Unlimited HFND Multi-Strategy Return Tracker ETF(AMEX:HFND)

HFND holds a portfolio consisting of long and short positions in 30 to 50 underlying ETFs and future contracts with similar return characteristics as the hedge fund industry gross of fees returns. The strategy hinges on the premise of outperforming the hedge fund industry due to the relatively high fees and expenses charged by hedge funds compared to the funds lower operating expenses. The sub-adviser uses machine learning algorithms that best matches the reported monthly gross of fees returns of each hedge fund style. The fund then aggregates each style portfolios positions to build a total hedge fund industry model. Each style portfolio is weighted based on relative asset levels in each hedge fund style. The portfolio may include passively managed ETFs with exposure to commodities, fixed income, and equities across various sectors and styles from around the world, including emerging markets. The actively managed fund does not invest in hedge funds, replicate their direct underlying holdings, nor engage in certain activities permissible for hedge funds.