SCAP

THE INFRACAP SMALL CAP INCOME ETF

The InfraCap Small Cap Income ETF (the “Fund”) seeks total return through a blended approach of capital appreciation and current income.

Small Cap Value Investing Using SCAP ETF

KEY FEATURES

  • Diversified Income: The Fund seeks to achieve above-average yield by investing at least 80% of its net assets in a diversified portfolio of small-capitalization equity securities.
  • The Benefits of Staying Active: Individual security selection, driven by a mix of quantitative and qualitative analysis, offers the potential for outperformance versus a passive benchmark.
  • A Favorable Tax Structure: Rather than selling securities to meet redemptions, the “in-kind” mechanism allows for the ETF to avoid realizing capital gains. This feature may lower investors’ tax liability, boosting their net returns in the process.
FUND DETAILS
Fund Inception 12/11/2023
Ticker SCAP
Primary Exchange NYSE
CUSIP 81752T445
IOPV Symbol SCAP.IV
NAV Symbol SCAP.NV
Management Fee 0.80%
Total Expense Ratio 1.35%
30 Day Sec Yield* 6.06%

* As of 11/30/2024 - SEC 30-day yield reflects the dividends and interest earned during the period, after the deduction of the fund’s expenses.

FUND DATA & PRICING
Net Assets as of 12/10/2024 $12.47m
NAV $36.68
Shares Outstanding 340,000
Premium/discount Percentage 0.12%
Closing Price $36.72
Median 30 Day Spread 0.21%

Data as of 12/10/2024

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Median 30 Day 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
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception
NAV 9.07 8.41 25.61 - - - NA 33.28
MKT Price 8.96 8.53 25.82 - - - NA 33.49
Bloomberg US 2000 Value Total Return Index¹ 10.07 9.21 18.73 - - - NA 27.75

The performance data quoted 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. Performance current to the most recent month-end can be obtained by calling 800-617-0004.

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 returns.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

¹ Bloomberg US 2000 Value Total Return Index provides exposure to companies with superior value factor scores based on their earnings yield, valuation, dividend yield, and growth.

DISTRIBUTION DETAIL
EX-DATE RECORD DATE 1 YEAR PAYABLE DATE
11/26/2024 11/26/2024 $2.22 per share on an annualized basis 11/29/2024
DOWNLOAD PREMIUM DISCOUNT INFORMATION
TOP 10 HOLDINGS
% OF NET ASSETS NAME TICKER CUSIP SHARES HELD MARKET VALUE
11.88% iShares Russell 2000 ETF IWM 464287655 6,258 1,481,268.60
3.88% Apollo Global Management Inc 03769M304 03769M304 5,257 483,801.71
3.31% Herc Holdings Inc HRI 42704L104 1,941 412,559.55
3.28% Casey's General Stores Inc CASY 147528103 981 408,939.66
3.21% Tapestry Inc TPR 876030107 6,521 400,324.19
3.01% East West Bancorp Inc EWBC 27579R104 3,628 375,897.08
3.01% MKS Instruments Inc MKSI 55306N104 3,388 375,763.08
2.86% Preferred Bank/Los Angeles CA PFBC 740367404 3,829 356,441.61
2.84% Flagstar Financial Inc 649445202 649445202 16,099 354,660.97
2.65% AG Mortgage Investment Trust Inc 001228303 001228303 15,043 330,946.00

Data as of 12/11/2024. Holdings are subject to change.

DOWNLOAD FULL HOLDINGS

FUND DOCUMENTS

Fund Literature

Press Release
Fact Sheet
Monthly Dividend Press Release - SCAP ETF Stock
Small Cap Primer
Small Company Investing

Supplemental Information

2024 Distribution Calendar - SCAP ETF

Regulatory Documents

Prospectus
SAI
Summary Prospectus
InfraCap Semi-Annual Core May 2024 Financial Statements
InfraCap Small Cap Income ETF TSR
Part F August 2024
Part F, Feb 2024
June 30 2024 Proxy Voting Report