DriveAdvisory Announces Scheduled Liquidation of Exchange Traded Fund

NEW YORK–(BUSINESS WIRE)–DriveAdvisory, LLC, a subsidiary of DriveWealth, LLC, announced the scheduled liquidation of the exchange traded fund DriveWealth NYSE 100 Index ETF (Ticker: CETF) (the “Fund”). This decision follows a routine, ongoing review process of DriveWealth and its subsidiaries to ensure the organization’s efforts meet the evolving needs of its global partners and their clients.
As part of this decision, the Fund will stop accepting new orders on Monday, July 22, 2024. The Fund will cease trading at the end of the trading day on Monday, July 22, 2024. The Fund is expected to liquidate on or around Monday, July 29, 2024 (the “Liquidation Date”). Stakeholders may sell their shares on or before the end of the trading day on Monday, July 22, 2024, and may incur customary brokerage charges associated with these transactions.
On or around the Liquidation Date, shareholders will receive cash equal to the net asset value of their share of the Fund with reflected trading costs associated with the sale of portfolio securities.
Before investing, carefully consider the Fund’s investment objective, risks, charges, and expenses. This information is contained in the prospectus or summary prospectus available at www.DriveWealth.com/Advisory/DWI-US100. Read carefully before investing.
About DriveWealth
DriveWealth is a global B2B financial technology platform. Our core business is providing Brokerage-as-a-Service, powering the investing and trading experiences for digital wallets, broker dealers, asset managers, and consumer brands. DriveWealth’s APIs provide our partners with a modern, extensible and flexible toolkit to develop everything from traditional investment workflows to more innovative techniques like rounding up purchases into fractional share ownership. For more information, visit www.drivewealth.com.
Important Risks
Investing involves risks including possible loss of principal. There is no guarantee the fund will achieve its investment objective. The Fund will primarily invest in other ETFs and will be subject to the underlying risks of those respective funds. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. To the extent the Fund does not fully replicate the Index, it is subject to the risk that the investment strategy of the Fund’s investment adviser may not produce the intended results.
There is no guarantee the Fund’s investment strategy will be successful. In managing the Fund’s portfolio, the investment adviser engages one or more sub-advisers to make investment decisions for a portion of or the entire portfolio. There is a risk that the investment adviser may be unable to identify and retain sub-advisers that achieve superior investment returns relative to other similar sub-advisers.
It is not possible to directly invest in an index. Diversification does not eliminate the risk of loss.
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Distributor: Foreside Fund Services, LLC. Contacts
Media Contact:Caliber Corporate Advisers
drivewealth@calibercorporate.com