July 2, 2018
About NextShares: As a new type of Fund, NextShares have a limited operating history and may initially be available through a limited number of brokers. There can be no guarantee that an active trading market for Shares will develop or be maintained, or their listing will continue or remain unchanged. Trading prices of shares may be above, at or below NAV, and may vary significantly from anticipated levels. Buyers and sellers of Shares will not know the value of their purchases and sales until the Fund's NAV is determined at the end of the trading day. Trading Prices of Shares are linked to the Fund's next computed NAV and will vary from NAV by a market determined premium or discount, which may be zero.
Shares of NextShares funds are normally bought and sold in the secondary market through a broker, and may not be individually purchased or redeemed from the fund. In the secondary market, buyers and sellers transact with each other, rather than with the fund. NextShares funds issue and redeem shares only in specified creation unit quantities in transactions by or through Authorized Participants. In such transactions, a fund issues and redeems shares in exchange for the basket of securities, other instruments and/or cash that the fund specifies each business day. By transacting in kind, a NextShares fund can lower its trading costs and enhance fund tax efficiency by avoiding forced sales of securities to meet redemptions. Redemptions may be effected partially or entirely in cash when in-kind delivery is not practicable or deemed not in the best interests of shareholders. A fund's basket is not intended to be representative of the fund's current portfolio positions and may vary significantly from current positions. As exchange-traded securities, NextShares can operate with low transfer agency expenses by utilizing the same highly efficient share processing system as used for exchange-listed stocks and ETFs. Buying and selling NextShares may require payment of brokerage commissions and expose transacting shareholders to other trading costs. Frequent trading may detract form realized investment returns. The return on a shareholder's NextShares investment will be reduced if the shareholder sells shares at a greater discount or narrower premium to NAV than he or she acquired the shares.
The S&P Global Infrastructure Index is an unmanaged indicator of infrastructure industry (energy, transportation, & utilities) stock performance and is adjusted for reinvestment of dividends.
Risk Factors: Fund performance is sensitive to stock market volatility. Investments in foreign instruments or currencies can involve greater risk and volatility than U.S. investments because of adverse market, economic, political, regulatory, geopolitical or other conditions. No fund is a complete investment program, and you may lose money investing in a fund, including loss of principal. The Fund may engage in other investment practices that may involve additional risks, and you should review the Fund prospectus for a complete description.
Industry Concentration Risks: The Fund invests a significant portion of its assets in companies in the companion pet industry, and, as a result, the value of the Fund's shares is more susceptible to factors affecting those particular types of companies and that industry, including governmental regulation, a greater price volatility than the overall market, rapid obsolescence of products and services, intense competition.. As a consequence of its concentration policy, the Fund's investments may be subject to greater risk and market fluctuation than a fund that has securities representing a broader range of alternatives.
All investments are subject to risks, including possible loss of principal. Please carefully consider the investment objectives, risks, charges and expenses of Gabelli Pet Parents' NextShares before investing. Please carefully read a copy of the Gabelli Pet Parents' NextShares' prospectus before investing, which contains this and other information about Gabelli Pet Parents' NextShares; you can obtain a copy of the prospectus by calling 800-GABELLI (422-3554 ).
The market price used to calculate the Market Price return is the midpoint between the highest bid and the lowest offer on the exchange on which the shares of the fund are listed for trading, as of the time that the Fund's NAV is calculated. If you trade your shares at another time, your return may differ.
Not FDIC Insured. Not Bank Guaranteed. May Lose Value. Gabelli