PRAM – Defiance Memory & Photonics ETF – ETF Investment Strategy

Strategy

The investment seeks to track the total return performance, before fees and expenses, of the Solactive Memory and Photonics Index (the “Index”). Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Memory & Photonics Companies. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PRAM	Defiance Memory & Photonics ETF	ETF	Open	—	—	Aug 26, 2026	$9.48M	0.650%	—	—	—

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Defiance Memory & Photonics ETF PRAM Strategy

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