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ACTIVE RISK-MANAGED ETFS

WBI’s active investment process seeks to manage risk to capital, unleash the benefits of compounding, and grow capital efficiently through good and bad market cycles. Our Bull|Bear ETFs combine our time-tested, multi-factor security selection models with our advanced dynamic trailing stop process to protect capital.

POWER FACTOR® ETFS

WBI’s multi-factor security selection models have been time-tested over three decades to develop the most powerful factor combinations to find the strongest dividend stocks to buy. Our Power Factor ETF unleashes the power of WBI’s sophisticated security selection to identify 50 stocks that have a deep value bias, quality fundamentals, and an attractive yield. Quarterly rebalancing provides a more active approach than you would find in similar offerings.

FEATURED PRODUCTS

WBIF

WBI Bull|Bear
Value 3000 ETF

WBIY

WBI Power Factor® High Dividend ETF

WBIG

WBI Bull|Bear
Yield 3000 ETF

WBIL

WBI Bull|Bear
Quality 3000 ETF

ALL FUNDS

WBI Power Factor® High Dividend ETF (WBIY)

Fund Information

As of: 04/17/2025

NAV

Daily Change

Median 30 Day Spread Percentage

Fact Sheet

$26.96

$0.31

0.38%

Fund Goals

Multi-factor smart beta ETF
Power Factor® approach focuses on generating the highest dividend yield with a deep value bias and multi-factor fundamental analysis to confirm quality
Designed to track the Solactive Power Factor® High Dividend Index

Prices	As of: 04/17/2025

Shares Outstanding

Fund Size ($M)

Closing Bid/Ask (Midpoint)

Daily Volume

Premium/Discount

Expense Ratio

1,950,000

52.57

$27.00

2,701

0.13%

1.00%

Performance Month End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 12/19/2016

NAV

-1.70%

0.11%

0.11%

1.71%

5.90%

19.62

7.29%

Market

-1.42%

0.34%

0.34%

1.67%

5.86%

19.64

7.30%

Performance Quarter End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 12/19/2016

NAV

-1.70

0.11

0.11

1.71

5.90

19.62

7.29

Market

-1.42

0.34

0.34

1.67

5.86

19.64

7.30

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. The performance data quoted represents past performance and is not a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For most recent month-end performance, please see the monthly performance table above.

Fund Characteristics	As of: 3/31/2025

30-Day SEC Yield

5.09%

WBIY Top Holdings	As of: 04/21/2025

Security Name

Weightings

CVS Health Corp
AT&T Inc
Verizon Communications Inc
Altria Group Inc
Dominion Energy Inc
Ford Motor Co
Cash & Other
CONAGRA BRANDS INC
AES Corp/The
United Parcel Service Inc

7.02%
6.73%
6.35%
4.86%
4.78%
4.76%
4.64%
4.50%
4.12%
4.05%

54,845
130,302
75,860
43,915
47,227
259,945
2,438,800
93,339
213,023
22,083

Download Holdings

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	IncomeByPosition
04/21/2025	WBIY	CVS	126650100	CVS Health Corp	54,845	67.290000	3690520.05	7.02%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	T	00206R102	AT&T Inc	130,302	27.150000	3537699.30	6.73%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	VZ	92343V104	Verizon Communications Inc	75,860	44.040000	3340874.40	6.35%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	MO	02209S103	Altria Group Inc	43,915	58.160000	2554096.40	4.86%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	D	25746U109	Dominion Energy Inc	47,227	53.170000	2511059.59	4.78%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	F	345370860	Ford Motor Co	259,945	9.630000	2503270.35	4.76%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	Cash&Other	Cash&Other	Cash & Other	2,438,800	1.000000	2438800.09	4.64%	52572000.00	1950000	39.000000000000	Y
04/21/2025	WBIY	CAG	205887102	CONAGRA BRANDS INC	93,339	25.330000	2364276.87	4.50%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	AES	00130H105	AES Corp/The	213,023	10.180000	2168574.14	4.12%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	UPS	911312106	United Parcel Service Inc	22,083	96.430000	2129463.69	4.05%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	LYB	N53745100	LyondellBasell Industries NV	36,992	56.770000	2100035.84	3.99%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	SON	835495102	Sonoco Products Co	39,894	43.900000	1751346.60	3.33%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	BEN	354613101	Franklin Resources Inc	85,411	17.610000	1504087.71	2.86%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	DINO	403949100	HF Sinclair Corp	42,383	29.030000	1230378.49	2.34%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	WHR	963320106	Whirlpool Corp	12,995	78.840000	1024525.80	1.95%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	CRI	146229109	Carter's Inc	26,524	36.370000	964677.88	1.83%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	POR	736508847	Portland General Electric Co	22,276	43.080000	959650.08	1.83%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	WU	959802109	Western Union Co/The	97,000	9.810000	951570.00	1.81%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	IPG	460690100	Interpublic Group of Cos Inc/The	33,708	23.940000	806969.52	1.53%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	PZZA	698813102	Papa John's International Inc	25,840	31.160000	805174.40	1.53%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	OMF	68268W103	OneMain Holdings Inc	17,821	44.410000	791430.61	1.51%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	NE	G65431127	Noble Corp PLC	36,550	20.420000	746351.00	1.42%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	CMA	200340107	Comerica Inc	13,716	52.950000	726262.20	1.38%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	CNH	N20944109	CNH Industrial NV	65,342	11.120000	726603.04	1.38%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	PRU	744320102	Prudential Financial Inc	7,247	99.470000	720859.09	1.37%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	OGN	68622V106	Organon & Co	63,552	11.120000	706698.24	1.34%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	CVX	166764100	Chevron Corp	5,052	137.870000	696519.24	1.32%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	COLB	197236102	Columbia Banking System Inc	30,695	22.180000	680815.10	1.30%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	M	55616P104	Macy's Inc	59,733	11.130000	664828.29	1.26%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	FMC	302491303	FMC Corp	16,576	37.840000	627235.84	1.19%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	FLO	343498101	Flowers Foods Inc	31,151	18.260000	568817.26	1.08%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	CFG	174610105	Citizens Financial Group Inc	15,695	35.450000	556387.75	1.06%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	PII	731068102	Polaris Inc	16,113	33.180000	534629.34	1.02%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	CWEN	18539C204	Clearway Energy Inc	17,544	29.230000	512811.12	0.98%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	HESM	428103105	Hess Midstream LP	13,707	37.530000	514423.71	0.98%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	TNL	894164102	Travel + Leisure Co	10,738	41.420000	444767.96	0.85%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	PINC	74051N102	Premier Inc	18,672	19.330000	360929.76	0.69%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	LCII	50189K103	LCI Industries	4,580	77.390000	354446.20	0.67%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	APAM	04316A108	Artisan Partners Asset Management Inc	8,124	35.040000	284664.96	0.54%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	DIN	254423106	Dine Brands Global Inc	12,506	20.230000	252996.38	0.48%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	GES	401617105	Guess? Inc	25,507	9.690000	247162.83	0.47%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	NAVI	63938C108	Navient Corp	17,420	11.210000	195278.20	0.37%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	UPBD	76009N100	Upbound Group Inc	8,964	20.550000	184210.20	0.35%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	GSL	Y27183600	Global Ship Lease Inc	8,457	20.540000	173706.78	0.33%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	MNRO	610236101	Monro Inc	12,376	13.960000	172768.96	0.33%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	NTB	G0772R208	Bank of NT Butterfield & Son Ltd/The	3,986	37.480000	149395.28	0.28%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	BRKL	11373M107	Brookline Bancorp Inc	14,206	9.890000	140497.34	0.27%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	HOPE	43940T109	Hope Bancorp Inc	15,127	9.520000	144009.04	0.27%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	IGT	G4863A108	International Game Technology PLC	8,132	16.060000	130599.92	0.25%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	BBY	086516101	Best Buy Co Inc	1,887	61.970000	116937.39	0.22%	52572000.00	1950000	39.000000000000		0.00
04/21/2025	WBIY	VRTS	92828Q109	Virtus Investment Partners Inc	716	148.960000	106655.36	0.20%	52572000.00	1950000	39.000000000000		0.00

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WBI Bull|Bear Value 3000 ETF (WBIF)

Fund Information

As of: 04/17/2025

NAV

Daily Change

Median 30 Day Spread Percentage

Fact Sheet

$26.05

$0.01

0.52%

Fund Goals

Manage risk to capital
Seeks to provide attractive returns and long-term growth of capital
Typically invests in small-, mid- and large-cap securities with consistent fundamentals and strong value characteristics

Prices	As of: 04/17/2025

Shares Outstanding

Fund Size ($M)

Closing Bid/Ask (Midpoint)

Daily Volume

Premium/Discount

Expense Ratio

1,038,315

27.05

$26.06

325

0.03%

1.64%

Performance Month End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 8/25/2014

NAV

-3.97%

1.15%

1.15%

-5.40%

-2.29%

3.94

2.31%

Market

-3.64%

1.33%

1.33%

-5.43%

-2.30%

3.97

2.31%

Performance Quarter End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 8/25/2014

NAV

-3.97

1.15

1.15

-5.40

-2.29

3.94

2.31

Market

-3.64

1.33

1.33

-5.43

-2.30

3.97

2.31

Fund Characteristics	As of: 3/31/2025

30-Day SEC Yield

0.33%

WBIF Top Holdings	As of: 04/21/2025

Security Name

Weightings

Cash & Other
Penske Automotive Group Inc
Voya Financial Inc
Tyson Foods Inc
Interactive Brokers Group Inc
Tetra Tech Inc
Cboe Global Markets Inc
Hershey Co/The
Fidelity National Financial Inc
Darden Restaurants Inc

8.04%
4.75%
4.49%
4.48%
4.47%
4.33%
4.10%
4.08%
4.03%
4.01%

2,174,103
8,460
21,371
19,779
7,578
38,709
5,108
6,627
17,648
5,422

Download Holdings

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	IncomeByPosition
04/21/2025	WBIF	Cash&Other	Cash&Other	Cash & Other	2,174,103	1.000000	2174102.95	8.04%	27044990.81	1038315	20.770000000000	Y
04/21/2025	WBIF	PAG	70959W103	Penske Automotive Group Inc	8,460	151.810000	1284312.60	4.75%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	VOYA	929089100	Voya Financial Inc	21,371	56.760000	1213017.96	4.49%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	TSN	902494103	Tyson Foods Inc	19,779	61.210000	1210672.59	4.48%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	IBKR	45841N107	Interactive Brokers Group Inc	7,578	159.520000	1208842.56	4.47%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	TTEK	88162G103	Tetra Tech Inc	38,709	30.220000	1169785.98	4.33%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	CBOE	12503M108	Cboe Global Markets Inc	5,108	217.070000	1108793.56	4.10%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	HSY	427866108	Hershey Co/The	6,627	166.590000	1103991.93	4.08%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	FNF	31620R303	Fidelity National Financial Inc	17,648	61.810000	1090822.88	4.03%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	DRI	237194105	Darden Restaurants Inc	5,422	200.220000	1085592.84	4.01%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	GL	37959E102	Globe Life Inc	8,879	121.250000	1076578.75	3.98%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	PAYX	704326107	Paychex Inc	7,426	144.900000	1076027.40	3.98%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	QCOM	747525103	QUALCOMM Inc	7,587	136.660000	1036839.42	3.83%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	LRCX	512807306	Lam Research Corp	16,150	63.760000	1029724.00	3.81%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	HCA	40412C101	HCA Healthcare Inc	2,923	335.010000	979234.23	3.62%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	AAPL	037833100	Apple Inc	3,917	196.980000	771570.66	2.85%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	GOOGL	02079K305	Alphabet Inc	4,908	151.160000	741893.28	2.74%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	MSFT	594918104	Microsoft Corp	1,994	367.780000	733353.32	2.71%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	AMZN	023135106	Amazon.com Inc	4,076	172.610000	703558.36	2.60%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	NVDA	67066G104	NVIDIA Corp	6,813	101.490000	691451.37	2.56%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	TSLA	88160R101	Tesla Inc	2,861	241.370000	690559.57	2.55%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	META	30303M102	Meta Platforms Inc	1,329	501.480000	666466.92	2.46%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	WEC	92939U106	WEC Energy Group Inc	4,954	108.390000	536964.06	1.99%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	AEE	023608102	Ameren Corp	5,320	98.650000	524818.00	1.94%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	CVS	126650100	CVS Health Corp	7,237	67.290000	486977.73	1.80%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	FIX	199908104	Comfort Systems USA Inc	1,336	347.950000	464861.20	1.72%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	MDLZ	609207105	Mondelez International Inc	6,790	67.320000	457102.80	1.69%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	ELV	036752103	ELEVANCE HEALTH INC	1,073	424.530000	455520.69	1.68%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	AEP	025537101	American Electric Power Co Inc	3,803	107.710000	409621.13	1.51%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	AFG	025932104	American Financial Group Inc/OH	2,204	127.970000	282045.88	1.04%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	EG	G3223R108	Everest Group Ltd	799	349.930000	279594.07	1.03%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	THG	410867105	Hanover Insurance Group Inc/The	716	161.670000	115755.72	0.43%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	BAH	099502106	Booz Allen Hamilton Holding Corp	912	113.680000	103676.16	0.38%	27044990.81	1038315	20.770000000000		0.00
04/21/2025	WBIF	UNH	91324P102	UnitedHealth Group Inc	180	454.110000	81739.80	0.30%	27044990.81	1038315	20.770000000000		0.00

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WBI Bull|Bear Yield 3000 ETF (WBIG)

Fund Information

As of: 04/17/2025

NAV

Daily Change

Median 30 Day Spread Percentage

Fact Sheet

$20.53

$0.07

0.30%

Fund Goals

Manage risk to capital
Generate an attractive current yield that helps promote compounding
Seeks to provide attractive returns and long-term growth of capital
Typically invests in small-, mid- and large-cap securities that present themselves as undervalued opportunities with attractive dividend yields

Prices	As of: 04/17/2025

Shares Outstanding

Fund Size ($M)

Closing Bid/Ask (Midpoint)

Daily Volume

Premium/Discount

Expense Ratio

1,580,183

32.44

$20.54

1,281

0.05%

1.44%

Performance Month End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 8/25/2014

NAV

-5.25%

-4.73%

-4.73%

-8.73%

-4.92%

2.43

0.68%

Market

-5.23%

-4.68%

-4.68%

-8.89%

-5.02%

2.43

0.66%

Performance Quarter End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 8/25/2014

NAV

-5.25

-4.73

-4.73

-8.73

-4.92

2.43

0.68

Market

-5.23

-4.68

-4.68

-8.89

-5.02

2.43

0.66

Fund Characteristics	As of: 3/31/2025

30-Day SEC Yield

2.00%

WBIG Top Holdings	As of: 04/21/2025

Security Name

Weightings

Cash & Other
Pfizer Inc
United Parcel Service Inc
APA Corp
Verizon Communications Inc
General Dynamics Corp
AT&T Inc
J M Smucker Co/The
Hershey Co/The
Tyson Foods Inc

19.76%
4.69%
4.61%
4.59%
4.51%
4.04%
4.04%
4.00%
3.99%
3.97%

6,409,725
68,734
15,511
92,510
33,214
4,750
48,313
11,151
7,769
21,017

Download Holdings

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	IncomeByPosition
04/21/2025	WBIG	Cash&Other	Cash&Other	Cash & Other	6,409,725	1.000000	6409724.58	19.76%	32440840.95	1580183	31.600000000000	Y
04/21/2025	WBIG	PFE	717081103	Pfizer Inc	68,734	22.140000	1521770.76	4.69%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	UPS	911312106	United Parcel Service Inc	15,511	96.430000	1495725.73	4.61%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	APA	03743Q108	APA Corp	92,510	16.110000	1490336.10	4.59%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	VZ	92343V104	Verizon Communications Inc	33,214	44.040000	1462744.56	4.51%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	GD	369550108	General Dynamics Corp	4,750	276.080000	1311380.00	4.04%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	T	00206R102	AT&T Inc	48,313	27.150000	1311697.95	4.04%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	SJM	832696405	J M Smucker Co/The	11,151	116.440000	1298422.44	4.00%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	HSY	427866108	Hershey Co/The	7,769	166.590000	1294237.71	3.99%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	TSN	902494103	Tyson Foods Inc	21,017	61.210000	1286450.57	3.97%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	TTEK	88162G103	Tetra Tech Inc	42,528	30.220000	1285196.16	3.96%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	LRCX	512807306	Lam Research Corp	19,190	63.760000	1223554.40	3.77%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	AAPL	037833100	Apple Inc	4,680	196.980000	921866.40	2.84%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	CBOE	12503M108	Cboe Global Markets Inc	4,094	217.070000	888684.58	2.74%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	GOOGL	02079K305	Alphabet Inc	5,864	151.160000	886402.24	2.73%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	MSFT	594918104	Microsoft Corp	2,383	367.780000	876419.74	2.70%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	FNF	31620R303	Fidelity National Financial Inc	13,997	61.810000	865154.57	2.67%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	AMZN	023135106	Amazon.com Inc	4,870	172.610000	840610.70	2.59%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	NVDA	67066G104	NVIDIA Corp	8,141	101.490000	826230.09	2.55%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	TSLA	88160R101	Tesla Inc	3,419	241.370000	825244.03	2.54%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	META	30303M102	Meta Platforms Inc	1,588	501.480000	796350.24	2.45%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	VNOM	927959106	Viper Energy Inc	14,370	41.370000	594486.90	1.83%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	KMB	494368103	Kimberly-Clark Corp	3,068	142.810000	438141.08	1.35%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	PEP	713448108	PepsiCo Inc	2,839	142.840000	405522.76	1.25%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	SYY	871829107	Sysco Corp	5,458	71.740000	391556.92	1.21%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	ELV	036752103	ELEVANCE HEALTH INC	606	424.530000	257265.18	0.79%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	HIG	416515104	Hartford Insurance Group Inc/The	2,106	117.800000	248086.80	0.76%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	CVS	126650100	CVS Health Corp	3,583	67.290000	241100.07	0.74%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	MDLZ	609207105	Mondelez International Inc	3,315	67.320000	223165.80	0.69%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	HCA	40412C101	HCA Healthcare Inc	637	335.010000	213401.37	0.66%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	AEE	023608102	Ameren Corp	2,055	98.650000	202725.75	0.62%	32440840.95	1580183	31.600000000000		0.00
04/21/2025	WBIG	UNH	91324P102	UnitedHealth Group Inc	219	454.110000	99450.09	0.31%	32440840.95	1580183	31.600000000000		0.00

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WBI Bull|Bear Quality 3000 ETF (WBIL)

Fund Information

As of: 04/17/2025

NAV

Daily Change

Median 30 Day Spread Percentage

Fact Sheet

$28.76

$0.03

0.54%

Fund Goals

Manage risk to capital
Seeks to provide attractive returns and long-term growth of capital
Typically invests in small-, mid- and large-cap securities with strong measures of financial health and potential for growth.

Prices	As of: 04/17/2025

Shares Outstanding

Fund Size ($M)

Closing Bid/Ask (Midpoint)

Daily Volume

Premium/Discount

Expense Ratio

1,027,182

29.54

$28.77

336

0.04%

1.65%

Performance Month End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 8/25/2014

NAV

-8.35%

-9.44%

-9.44%

-8.20%

1.28%

5.51

2.96%

Market

-8.16%

-9.21%

-9.21%

-8.32%

1.20%

5.51

2.95%

Performance Quarter End	As of: 03/31/2025

Name

MTD

QTD

YTD

1 Year

3 Year

5 Year

Since Inception 8/25/2014

NAV

-8.35

-9.44

-9.44

-8.20

1.28

5.51

2.96

Market

-8.16

-9.21

-9.21

-8.32

1.20

5.51

2.95

Fund Characteristics	As of: 3/31/2025

30-Day SEC Yield

-0.17%

WBIL Top Holdings	As of: 04/21/2025

Security Name

Weightings

Cash & Other
Monster Beverage Corp
Spotify Technology SA
Arthur J Gallagher & Co
Yum! Brands Inc
Ameriprise Financial Inc
Copart Inc
Hershey Co/The
HCA Healthcare Inc
HEICO Corp

15.69%
5.42%
4.83%
4.80%
4.72%
4.70%
4.53%
4.53%
4.50%
4.39%

4,633,911
27,391
2,486
4,308
9,728
2,991
22,421
8,037
3,965
5,296

Download Holdings

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	IncomeByPosition
04/21/2025	WBIL	Cash&Other	Cash&Other	Cash & Other	4,633,911	1.000000	4633910.52	15.69%	29540110.83	1027182	20.540000000000	Y
04/21/2025	WBIL	MNST	61174X109	Monster Beverage Corp	27,391	58.410000	1599908.31	5.42%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	SPOT	L8681T102	Spotify Technology SA	2,486	574.250000	1427585.50	4.83%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	AJG	363576109	Arthur J Gallagher & Co	4,308	329.220000	1418279.76	4.80%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	YUM	988498101	Yum! Brands Inc	9,728	143.310000	1394119.68	4.72%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	AMP	03076C106	Ameriprise Financial Inc	2,991	464.560000	1389498.96	4.70%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	CPRT	217204106	Copart Inc	22,421	59.680000	1338085.28	4.53%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	HSY	427866108	Hershey Co/The	8,037	166.590000	1338883.83	4.53%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	HCA	40412C101	HCA Healthcare Inc	3,965	335.010000	1328314.65	4.50%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	HEI	422806109	HEICO Corp	5,296	244.740000	1296143.04	4.39%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	CTAS	172908105	Cintas Corp	6,059	205.760000	1246699.84	4.22%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	ROL	775711104	Rollins Inc	21,561	55.780000	1202672.58	4.07%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	DRI	237194105	Darden Restaurants Inc	5,923	200.220000	1185903.06	4.01%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	PGR	743315103	Progressive Corp/The	3,414	265.450000	906246.30	3.07%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	AAPL	037833100	Apple Inc	4,284	196.980000	843862.32	2.86%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	GOOGL	02079K305	Alphabet Inc	5,368	151.160000	811426.88	2.75%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	MSFT	594918104	Microsoft Corp	2,181	367.780000	802128.18	2.72%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	AMZN	023135106	Amazon.com Inc	4,458	172.610000	769495.38	2.60%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	NVDA	67066G104	NVIDIA Corp	7,452	101.490000	756303.48	2.56%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	TSLA	88160R101	Tesla Inc	3,130	241.370000	755488.10	2.56%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	META	30303M102	Meta Platforms Inc	1,454	501.480000	729151.92	2.47%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	KMB	494368103	Kimberly-Clark Corp	4,756	142.810000	679204.36	2.30%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	ZS	98980G102	Zscaler Inc	2,181	201.090000	438577.29	1.48%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	HIG	416515104	Hartford Insurance Group Inc/The	2,644	117.800000	311463.20	1.05%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	PG	742718109	Procter & Gamble Co/The	1,803	169.573200	305740.48	1.04%	29540110.83	1027182	20.540000000000		1905.41
04/21/2025	WBIL	COST	22160K105	Costco Wholesale Corp	301	994.500000	299344.50	1.01%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	NFLX	64110L106	Netflix Inc	197	973.030000	191686.91	0.65%	29540110.83	1027182	20.540000000000		0.00
04/21/2025	WBIL	TMUS	872590104	T-Mobile US Inc	606	262.040000	158796.24	0.54%	29540110.83	1027182	20.540000000000		0.00

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Market Disruptions Resulting from COVID-19. The outbreak of COVID-19 has negatively affected the worldwide economy, individual countries, individual companies and the market in general. The future impact of COVID-19 is currently unknown, and it may exacerbate other risks that apply to the Fund.

An investment in the Funds is subject to risk, including the possible loss of principal. There is no guarantee the Advisor’s investment strategy or quantitative models used in the investment strategy will be successful. To the extent that a Fund invests in dividend-paying equities, if stocks held by the Fund reduce or stop paying dividends, the Funds’ ability to generate income may be affected. Small and medium capitalization companies may involve greater volatility and risk than investing in larger and more established companies. Foreign and emerging market securities carry additional risks such as currency fluctuation, economic or financial instability, lack of timely or reliable financial information, or unfavorable political or legal developments.

There are risks specific to WBIY and WBIG which focus on high yielding securities. The Funds invest in high yielding stocks, which may be speculative, higher risk investments. It is possible these companies could pay out more than they can support and may reduce or stop paying dividends at any time, which could have a material adverse effect on the companies’ stock price and the Fund’s performance.

WBIF focuses on value securities. Value style investing involves the risk that an investment made in undervalued securities may not appreciate as anticipated or remain undervalued for long periods of time.

WBIY is not actively managed and the Sub-Advisor does not attempt to take defensive positions in declining markets. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of its Underlying Index.

For a full list of investment risks associated with the funds, including but not limited to market risk, portfolio turnover risk, securities business risk, mortgage-backed securities risk, master limited partnership risk, real estate investment trust risk, ETF risk, and trading price risk, please read the prospectus.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in creation units only. Total returns are calculated using the daily 4:00 p.m. EST net asset value (NAV). Market price returns reflect the last trade on a given date where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times.