Harbor Alpha Layering ETF(AMEX:HOLD)

HOLD aims for long-term capital appreciation through a passive equity position and an active managed futures strategy. By using leverage, the fund provides approximately 150% total exposure, with 75% allocated to each of the two sleeves. The equity component replicates the S&P 500 through futures contracts. The managed futures component employs a trend-following approach that applies quantitative models to global equities, fixed income, currencies, and commodities. It aims to perform in trending, volatile, or stressed markets and profit from price trends. The fund is expected to adopt/maintain long positions in rising markets and short positions in declines. Performance may be flat or negative if no clear trends develop or during periods of short-term volatility. The fund may invest up to 25% of assets through a wholly owned Cayman Islands subsidiary. The fund holds US Treasurys, money market funds, and other cash equivalents for margin, collateral, and liquidity purposes.