AZTD

Aztlan Global Stock Selection DM SMID ETF

Investment Objective

The Aztlan Global Stock Selection DM SMID ETF (the “Fund”) seeks to track the performance, before fees and expenses, of the Solactive Aztlan Global Developed Markets SMID Cap Index (the “Index”).

Fund Summary

AZTD is Atzlan’s stock selection ETF, a unique rules-based strategy that selects the top 27 stocks based on fundamental factors. AZTD uses a proprietary 6-factor fundamental model to assign stock rankings: cash flow generation, value, growth, capital structure quality, earnings revisions and momentum. The Fund’s stock picks represent companies in developed markets across North America, Western Europe and Developed Asia, with market caps between $500 million and $10 billion. Energy, Real Estate and Pharmaceuticals are excluded.

Fund Documents

Fund Details

wdt_ID	Name	Information
1	Fund Inception	08/18/2022
2	Ticker	AZTD
3	Primary Exchange	NYSE
4	CUSIP	886364470
5	IPOV Symbol	AZTD.IV
6	NAV Symbol	AZTD.NV
7	Expense Ratio	0.75%

Name	value	date
30-Day SEC Yield	1.27	09/30/2024

Name	value	date
30-Day SEC Yield	0.77	09/30/2024

*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.

Fund Data & Pricing

Name	value
Net Assets	$27.89m
NAV	$24.25
Shares Outstanding	1,150,000.00
Premium/discount Percentage	0.31%
Closing Price	$24.33
Median 30 Day Spread**	0.41%

Name
10/09/2024

*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Performance

Month-End

Quarter-End

Month-End

Name
09/30/2024

Fund Name	Fund Name	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception Cumulative	Since Inception Annualized	Date
Aztlan Global Stock Selection DM SMID ETF	AZTD NAV	5.10	14.76	14.31	12.69	24.88	–	–	23.48	10.46	09/30/2024
Aztlan Global Stock Selection DM SMID ETF	AZTD MKT	5.14	14.67	14.23	13.15	25.01	–	–	23.54	10.48	09/30/2024
MSCI World SMID Cap Index Gross Total Return	M2WOSM	2.22	9.83	6.82	12.91	26.65	–	–	23.09	10.29	09/30/2024
S&P 500 TR	SPTR2	2.14	5.89	10.42	22.08	36.35	–	–	39.41	16.96	09/30/2024
Solactive Aztlan Global Developed Markets SMID Cap Index TR	SOLAZDMT	5.29	15.35	15.39	14.92	27.6	–	–	29.17	12.83	09/30/2024

Quarter-End

Name
09/30/2024

Fund Name	Fund Name	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception Cumulative	Since Inception Annualized	Date
Aztlan Global Stock Selection DM SMID ETF	AZTD NAV	5.10	14.76	14.31	12.69	24.88	–	–	23.48	10.46	09/30/2024
Aztlan Global Stock Selection DM SMID ETF	AZTD MKT	5.14	14.67	14.23	13.15	25.01	–	–	23.54	10.48	09/30/2024
MSCI World SMID Cap Index Gross Total Return	M2WOSM	2.22	9.83	6.82	12.91	26.65	–	–	23.09	10.29	09/30/2024
S&P 500 TR	SPTR2	2.14	5.89	10.42	22.08	36.35	–	–	39.41	16.96	09/30/2024
Solactive Aztlan Global Developed Markets SMID Cap Index TR	SOLAZDMT	5.29	15.35	15.39	14.92	27.60	–	–	29.17	12.83	09/30/2024

The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling . Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

Distribution Detail

Ex Date	Record Date	Payable Date	Amount
12/26/2023	12/27/2023	12/28/2023	0.03

Top 10 Holdings

Name
10/10/2024

Date	Account	StockTicker	Name	CUSIP	Shares	Price	Market Value	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag
10/10/2024	AZTD	2371 JP	Kakaku.com Inc	6689533	60,283	2,557.50	1,033,578.74	3.71%	27,886,695	1,150,000	46
10/10/2024	AZTD	2871 JP	Nichirei Corp	6640864	33,623	4,489.00	1,011,856.98	3.63%	27,886,695	1,150,000	46
10/10/2024	AZTD	4194 JP	Visional Inc	BNC53Q0	18,940	8,070.00	1,024,676.03	3.67%	27,886,695	1,150,000	46
10/10/2024	AZTD	4480 JP	Medley Inc	BK93ZN7	39,266	3,925.00	1,033,211.88	3.71%	27,886,695	1,150,000	46
10/10/2024	AZTD	5706 JP	Mitsui Mining & Smelting Co Ltd	6597346	30,778	5,061.00	1,044,262.78	3.74%	27,886,695	1,150,000	46
10/10/2024	AZTD	5838 JP	Rakuten Bank Ltd	BRPTWP9	46,572	3,305.00	1,031,880.53	3.70%	27,886,695	1,150,000	46
10/10/2024	AZTD	6417 JP	Sankyo Co Ltd	6775432	71,318	2,153.50	1,029,620.31	3.69%	27,886,695	1,150,000	46
10/10/2024	AZTD	7518 JP	NET One Systems Co Ltd	6036548	41,966	3,655.00	1,028,295.71	3.69%	27,886,695	1,150,000	46
10/10/2024	AZTD	9506 JP	Tohoku Electric Power Co Inc	6895266	109,552	1,461.50	1,073,376.78	3.85%	27,886,695	1,150,000	46
10/10/2024	AZTD	BME LN	B&M European Value Retail SA	BMTRW10	188,233	4.11	1,010,386.04	3.62%	27,886,695	1,150,000	46
10/10/2024	AZTD	CALM	Cal-Maine Foods Inc	128030202	13,794	89.90	1,240,080.60	4.45%	27,886,695	1,150,000	46
10/10/2024	AZTD	CNK	Cinemark Holdings Inc	17243V102	37,228	27.35	1,018,185.80	3.65%	27,886,695	1,150,000	46
10/10/2024	AZTD	COOP	Mr Cooper Group Inc	62482R107	11,338	94.00	1,065,772.00	3.82%	27,886,695	1,150,000	46
10/10/2024	AZTD	CU CN	Canadian Utilities Ltd	2172639	39,194	35.54	1,017,572.33	3.65%	27,886,695	1,150,000	46
10/10/2024	AZTD	ENG SM	Enagas SA	7383072	68,108	13.62	1,015,569.09	3.64%	27,886,695	1,150,000	46
10/10/2024	AZTD	FGXXX	First American Government Obligations Fund 12/01/2031	31846V336	16,410	100.00	16,410.11	0.06%	27,886,695	1,150,000	46	Y
10/10/2024	AZTD	GETIB SS	Getinge AB	7698356	48,537	211.10	986,198.70	3.54%	27,886,695	1,150,000	46
10/10/2024	AZTD	GFF	Griffon Corp	398433102	14,856	68.62	1,019,418.72	3.66%	27,886,695	1,150,000	46
10/10/2024	AZTD	HBI	Hanesbrands Inc	410345102	141,030	7.34	1,035,160.20	3.71%	27,886,695	1,150,000	46
10/10/2024	AZTD	HFG GR	HelloFresh SE	BYWH8S0	102,215	9.46	1,058,395.98	3.80%	27,886,695	1,150,000	46
10/10/2024	AZTD	IGG LN	IG Group Holdings PLC	B06QFB7	84,902	9.17	1,017,239.04	3.65%	27,886,695	1,150,000	46
10/10/2024	AZTD	OCI NA	OCI NV	BD4TZK8	36,690	25.97	1,043,167.14	3.74%	27,886,695	1,150,000	46
10/10/2024	AZTD	PGNY	Progyny Inc	74340E103	61,307	16.44	1,007,887.08	3.61%	27,886,695	1,150,000	46
10/10/2024	AZTD	QRVO	Qorvo Inc	74736K101	10,038	102.16	1,025,482.08	3.68%	27,886,695	1,150,000	46
10/10/2024	AZTD	SINCH SS	Sinch AB	BKP8Q11	347,738	28.15	942,179.85	3.38%	27,886,695	1,150,000	46
10/10/2024	AZTD	SMG	Scotts Miracle-Gro Co/The	810186106	11,938	85.19	1,016,998.22	3.65%	27,886,695	1,150,000	46
10/10/2024	AZTD	TEL2B SS	Tele2 AB	B97C733	92,427	113.90	1,013,271.54	3.63%	27,886,695	1,150,000	46
10/10/2024	AZTD	TEP FP	Teleperformance SE	5999330	10,091	89.00	983,237.54	3.53%	27,886,695	1,150,000	46
10/10/2024	AZTD	Cash&Other	Cash & Other	Cash&Other	42,752	1.00	42,752.29	0.15%	27,886,695	1,150,000	46	Y

Holdings are subject to change without notice.

Purchase

The Fund (AZTD) is available through various channels including via phone (800) 886-4107, broker-dealers, investment advisers, and other financial services firms, including: