AXS Knowledge Leaders ETF

The AXS Knowledge Leaders ETF (KNO) is an actively managed fund designed to invest in large and mid-capitalization companies deemed innovative, with the goal of generating superior returns through a "knowledge effect." The fund focuses its investments on developed market countries, with the exception of Hong Kong, ensuring at least 40% of its equity exposure is to non-U.S. markets within these regions. KNO utilizes a proprietary model that modifies companies' historical financial statements to account for intangible assets, subsequently evaluating their financial robustness, profitability, and dedication to innovation. Following these analytical adjustments, the fund's advisor selects the most liquid companies for its portfolio. Intangible assets considered include expenditures on research and development, advertising, brand enhancement, and employee training. Prior to May 26, 2020, the fund followed the Knowledge Leaders Developed World Index. Around that period, Knowledge Leaders Capital, LLC also assumed the role of investment advisor from Exchange Traded Concepts, LLC. Additionally, on July 22, 2023, KNO absorbed all assets and liabilities of the Knowledge Leaders Developed World ETF (KLDW), which held approximately $130 million in assets.