In addition to Prof. Fornell, ACSI Funds' management team also includes investment industry veterans Phil Bak and Kevin Quigg.Dr. Fornell is The Donald C. Cook Distinguished Emeritus Professor at the Stephen M. Ross School of Business, University of Michigan. Dr. Fornell founded the American Customer Satisfaction Index (ACSI)—a monthly economic indicator of the quality of economic output. Dr. Fornell is the author of several books and hundreds of articles examining customer satisfaction and consumer behavior. According to the International Journal of Research in Marketing, Dr. Fornell is the author of 3 of the 20 most influential papers in marketing science published in leading academic marketing journals (and 5 of the top 50) over a 20-year period. Dr. Fornell's seminal book, The Satisfied Customer, is a must-read blueprint for understanding the value of customer satisfaction in modern business practice. In addition to ACSI and ACSI Funds, Dr. Fornell has founded several companies, including CFI Group and ForeSee Results. He is the world's leading authority on customer satisfaction, its measurement and analysis, and regularly appears in broadcast and print media. Mr. Bak serves as CEO of ACSI Funds and is widely regarded as an expert in the management, development, and trading of exchange-traded funds. Prior to joining ACSI, Mr. Bak was a Managing Director at the New York Stock Exchange (NYSE) where he drove the growth of the NYSE ETF listing business to 90 percent market share by AUM and over $2 Trillion in total assets for NYSE listed ETFs. Mr. Bak had previously acted as Senior Product Manager for Guggenheim Investments where he developed alternative mutual funds and ETFs. Mr. Bak has a B.S. in Business Finance from Yeshiva University and is a Chartered Alternative Investment Analyst (CAIA). Mr. Quigg is ACSI Funds' Chief Strategist. In this role, he is responsible for expanding the footprint and awareness of ACSI Funds' proprietary strategies to allow investors to access the previously unexploited investment factor of customer satisfaction. Mr. Quigg has previously headed State Street Global Advisors SPDR ETF's Global Sales Strategy, Global Capital Markets and Institutional ETF Sales Groups, where he was responsible for working with market participants in the primary and secondary markets in the Americas, Europe, Asia and Australia. Prior to joining SPDR ETFs, Mr. Quigg was a Business Development Officer responsible for exchange traded product sales for Barclays Global Investors. Mr. Quigg is a graduate of the College of the Holy Cross and is a Certified Investment Management Analyst. An investor should consider the Fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus or summary prospectus contain this and other important information about the Fund and are available at acsietf.com or by calling 734.882.2401. Please read the prospectus or summary prospectus carefully before investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. The Index relies heavily on proprietary quantitative models as well as information and data supplied by third parties (Models and Data). Because the Index is composed based on such Models and Data, when such Models and Data prove to be incorrect or incomplete, the Index and Fund may not perform as expected. As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons. For example, the Fund incurs operating expenses and portfolio transaction costs not incurred by the Index. In addition, the Fund may not be fully invested in the securities of the Index mat all times or may hold securities not included in the Index. Investments involve risk. Principal loss is possible. The Fund has the same risks as the underlying securities traded on the exchange through the day. Redemptions are limited and commissions are charged on each trade, and ETFs may trade at a premium or discount to their net asset value. Shares of the American Customer Satisfaction Index ETF may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the Fund by Authorized Participants, in very large creation/redemption units. There can be no assurance that an active trading market for shares of an ETF will develop or be maintained. Alpha, often considered the active return on an investment, gauges the performance of an investment against a market index used as a benchmark.
The American Customer Satisfaction Investable Index uses an objective, rules-based methodology to measure the performance of large capitalization U.S.-listed companies whose customers have been surveyed and who have been assigned a customer satisfaction score by ACSI, LLC. The Index utilizes sector constraints to reflect the overall U.S. large cap market, and weights securities based on the Customer Satisfaction Data.References to other funds should not be interpreted as an offer of these securities. Diversification does not assure a profit or protect against a loss. The American Customer Satisfaction Core Alpha ETF is distributed by Quasar Distributors, LLC.