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IMPAX
US Small Cap Mutual fund

Why Invest In IMPAX?

This mutual fund selects the most entrepreneurial, primarily US Small Cap companies, that meet the thresholds embedded in our proprietary Entrepreneur Factor®. Our investment style places high value on visionary and innovative leaders who are stewards of their companies and possess high economic and personal stakes.

Fund Details

As of 9.30.2022
Fund Type Equity Fund
CUSIP 293828505
AUM $79.94 Million
Number of Holdings 173
Inception Date 12/17/2013
Gross Expense Ratio 0.87%
Net Expense Ratio* 0.85%
Average Market Cap $3,024 Million

Fund Strategy

The ERShares US Small Cap Mutual Fund selects the most entrepreneurial, primarily US Small Cap companies, that meet the thresholds embedded in the proprietary Entrepreneur Factor®(EF).

The Entrepreneur Factor® incorporates a bottom-up investment orientation, powered by artificial intelligence (“AI”), that stands above other investment factors such as momentum, sector, growth, value, leverage, market cap and geographic orientation. Moreover, with the aid of AI and thematic research, ERShares incorporates a macro-economic, top-down approach that integrates changing investment flows, innovation entry points, sector growth and other characteristics into a dynamic, global perspective model.

Fund Performance Graph

As of 9.30.2022
NAV $5.66
Market Price $5.66

Sector Allocations

Health Care 32.17%
Information Technology 20.94%
Consumer Discretionary 11.98%
Industrials 9.14%
Financials 6.87%
Communication Services 5.70%
Consumer Staples 3.41%
Materials 1.65%
Energy 1.35%
Real Estate 1.19%
As of 9.30.2022

Sector Allocations are subject to change

ERShares IMPAX Performance

As of 9.30.2022
YTD 1 Year 3 Years 5 Years 10 Years Since Inception
NAV -28.48 -30.23 -0.25 3.28 N/A 6.29

Performance quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Performance data current to the most recent month end may be obtained by calling +1 (617) 279 0045 or visiting ershares.com.

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Disclosures

The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling +1 (617) 279 0045 or visiting www.ershares.com. Read it carefully before investing. Distributed by Vigilant Distributors, LLC.

The ERShares US Small Cap invests in smaller companies, which involve additional risks such as limited liquidity and greater volatility. The Fund is exposed to common stock risk. Common Stock prices fluctuate based on changes in a company’s financial condition and on overall market and economic conditions. Additional risks are detailed in the prospectus. The Russell 2000 Total Return Index is a subset of the Russell 3000 Total Return Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000 Growth Index is composed of small-capitalization US equities that exhibit growth characteristics.

Fees The ERShares US Small Cap mutual fund has institutional class shares. The ERShares U.S. Small Cap has Total Annual Fund Operating Expenses of 0.87%. The Mutual Fund share classes is subject to a Redemption Fee of 2%.

*Net Expense ratios reflect the expense waiver and fee reimbursement the advisor has contractually agreed to through November 1, 2023.

Effective April 1, 2022 the ERShares US Small Cap Fund was renamed the ERShares US Small Cap

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