CPII

Ionic Inflation
Protection ETF

Fund Summary & Investment Objective

The Ionic Inflation Protection ETF (CPII) is an actively managed exchange-traded fund that seeks to generate positive returns during periods of elevated and/or rising inflation and inflation expectations as well as during periods of increasing interest rates and fixed income volatility.

Investment Strategy

Ionic utilizes a proprietary process to construct an investment portfolio of inflation swaps on CPI, swaptions on US interest rates and TIPS.

Why Invest in CPII

Provides direct exposure to inflation and inflation expectations

Leverages the firm’s interest rate derivatives expertise

Offers daily liquidity and transparency at an attractive fee

Overview

Fund Information

wdt_ID	Name	Data
1	Fund Name	Ionic Inflation Protection ETF
2	Fund Inception	06/28/2022
3	Ticker	CPII
4	Primary Exchange	NYSE Arca
5	CUSIP	886364553
6	NAV Symbol	CPII.NV
7	Gross Expense Ratio	0.70%
8	Data as of: 07/31/22 30-Day SEC Yield	10.83%

View Full Glossary of Terms →

Fund Data & Pricing

Fund Name	Ionic Inflation Protection ETF
Fund Ticker	CPII
CUSIP	886364553
Net Assets	$9.01m
Shares Outstanding	450,000
NAV	$20.02
NAV Change Dollars	0.08
NAV Change Percentage	0.42
Market Price	20
Market Price Change Dollars	-0.09
Market Price Change Percentage	-0.45
Premium/Discount Percentage	-0.11%
Rate Date	08/12/2022
Median 30 Day Spread Percentage	0.15
Closing Price	$20.00
Median 30-Day Spread Percentage	0.15%

Fund Name	Ionic Inflation Protection ETF
Fund Ticker	CPII
CUSIP	886364553
Net Assets	$9.01m
Shares Outstanding	450,000
NAV	$20.02
NAV Change Dollars	0.08
NAV Change Percentage	0.42
Market Price	20
Market Price Change Dollars	-0.09
Market Price Change Percentage	-0.45
Premium/Discount Percentage	-0.11%
Rate Date	08/12/2022
Median 30 Day Spread Percentage	0.15
Closing Price	$20.00
Median 30-Day Spread Percentage	0.15%

30-Day Median 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

Inception Date: 06/28/2022

Month-End

Quarter-End

Year-End

Month-End

Fund Name	Fund Ticker	1 Month	3 Month	6 Month	YTD	Since Inception Cumulative	1 Year	3 Year	5 Year	Since Inception Annualized	Date
Ionic Inflation Protection ETF	CPII NAV	1.06	–	–	–	1.07	–	–	–	–	07/31/2022
Ionic Inflation Protection ETF	CPII MKT	1.5	–	–	–	1.68	–	–	–	–	07/31/2022
S&P 500 TR	SPTR2	9.22	–	–	–	8.22	–	–	–		07/31/2022

Fund Name	Fund Ticker	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception (Cumulative)	Since Inception (Annualized)	Date
Ionic Inflation Protection ETF	CPII NAV	1.06	–	–	–	–	–	–	1.07	–	07/31/2022
Ionic Inflation Protection ETF	CPII MKT	1.5	–	–	–	–	–	–	1.68	–	07/31/2022
S&P 500 TR	SPTR2	9.22	–	–	–	–	–	–	8.22		07/31/2022

Quarter-End

As of 06/30/22

Fund Name	Fund Ticker	1MO	3MO	6MO	YTD	1YR	3YR	5YR	Since Inception (Cumulative)	Since Inception (Annualized)	Date
Ionic Inflation Protection ETF	CPII NAV	1.06	–	–	–	–	–	–	1.07	–	07/31/2022
Ionic Inflation Protection ETF	CPII MKT	1.5	–	–	–	–	–	–	1.68	–	07/31/2022
S&P 500 TR	SPTR2	9.22	–	–	–	–	–	–	8.22		07/31/2022

Year-End

As of 12/31/21

wdt_ID	Name	1MO	3MO	6MO	YTD	1YR	3YR	2022	2023	2024
1	CPII MKT	–	–	–	–	–	–	–	–	–
2	CPII NAV	–	–	–	–	–	–	–	–	–

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 (866) 214-2234. 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. Returns beyond 1 year are annualized. A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded. The fund intends to pay out dividends and interest income, if any, monthly. There is no guarantee these distributions will be made.

Top 10 Holdings

Holdings subject to change.

Date	Account	StockTicker	CUSIP	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	Ticker	Name	Shares Held	Market Value	% Of Net Assets
08/15/2022	CPII	912828H45	912828H45	United States Treasury Inflation Indexed Bonds 0.25% 01/15/2025	1,028,152	99.70	1,025,065.12	11.38	9,007,785	450,000	18		912828H45	United States Treasury Inflation Indexed Bonds 0.25% 01/15/2025	1,028,152	1,025,065.12	11.38%
08/15/2022	CPII	912828ZJ2	912828ZJ2	United States Treasury Inflation Indexed Bonds 0.125% 04/15/2025	1,024,767	99.22	1,016,764.35	11.29	9,007,785	450,000	18		912828ZJ2	United States Treasury Inflation Indexed Bonds 0.125% 04/15/2025	1,024,767	1,016,764.35	11.29%
08/15/2022	CPII	91282CAQ4	91282CAQ4	United States Treasury Inflation Indexed Bonds 0.125% 10/15/2025	1,020,150	99.55	1,015,509.34	11.27	9,007,785	450,000	18		91282CAQ4	United States Treasury Inflation Indexed Bonds 0.125% 10/15/2025	1,020,150	1,015,509.34	11.27%
08/15/2022	CPII	9128286N5	9128286N5	United States Treasury Inflation Indexed Bonds 0.5% 04/15/2024	1,007,544	100.05	1,008,065.36	11.19	9,007,785	450,000	18		9128286N5	United States Treasury Inflation Indexed Bonds 0.5% 04/15/2024	1,007,544	1,008,065.36	11.19%
08/15/2022	CPII	912828XL9	912828XL9	United States Treasury Inflation Indexed Bonds 0.375% 07/15/2025	1,004,578	100.31	1,007,669.32	11.19	9,007,785	450,000	18		912828XL9	United States Treasury Inflation Indexed Bonds 0.375% 07/15/2025	1,004,578	1,007,669.32	11.19%
08/15/2022	CPII	912828YL8	912828YL8	United States Treasury Inflation Indexed Bonds 0.125% 10/15/2024	1,011,063	99.56	1,006,580.64	11.17	9,007,785	450,000	18		912828YL8	United States Treasury Inflation Indexed Bonds 0.125% 10/15/2024	1,011,063	1,006,580.64	11.17%
08/15/2022	CPII	912828B25	912828B25	United States Treasury Inflation Indexed Bonds 0.625% 01/15/2024	998,300	100.15	999,786.15	11.10	9,007,785	450,000	18		912828B25	United States Treasury Inflation Indexed Bonds 0.625% 01/15/2024	998,300	999,786.15	11.10%
08/15/2022	CPII	912828WU0	912828WU0	United States Treasury Inflation Indexed Bonds 0.125% 07/15/2024	1,003,298	99.66	999,863.89	11.10	9,007,785	450,000	18		912828WU0	United States Treasury Inflation Indexed Bonds 0.125% 07/15/2024	1,003,298	999,863.89	11.10%
08/15/2022	CPII	Cash&Other	Cash&Other	Cash & Other	591,482	1.00	591,482.47	6.57	9,007,785	450,000	18	Y	Cash&Other	Cash & Other	591,482	591,482.47	6.57%
08/15/2022	CPII	CPIISWAPTION2022063001	CPIISWAPTION2022063001	IR SWAPTION PAYER 3.40% 06/28/2024	18,000,000	0.01	203,490.00	2.26	9,007,785	450,000	18		CPIISWAPTION2022063001	IR SWAPTION PAYER 3.40% 06/28/2024	18,000,000	203,490.00	2.26%
08/15/2022	CPII	CPIISWAP2022063002	CPIISWAP2022063002	INFLATION SWAP REC CPI PAY 2.89% 06/30/2027	9,000,000	1.48	133,411.25	1.48	9,007,785	450,000	18		CPIISWAP2022063002	INFLATION SWAP REC CPI PAY 2.89% 06/30/2027	9,000,000	133,411.25	1.48%

Date	Account	StockTicker	SecurityName	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag	Name	Ticker	Security Identifier	Quantity	Market Value	% Of Net Assets
08/15/2022	CPII	912828H45	United States Treasury Inflation Indexed Bonds 0.25% 01/15/2025	1,028,152	99.70	1,025,065.12	11.38	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.25% 01/15/2025	912828H45	912828H45	1,028,152	1,025,065.12	11.38%
08/15/2022	CPII	912828ZJ2	United States Treasury Inflation Indexed Bonds 0.125% 04/15/2025	1,024,767	99.22	1,016,764.35	11.29	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.125% 04/15/2025	912828ZJ2	912828ZJ2	1,024,767	1,016,764.35	11.29%
08/15/2022	CPII	91282CAQ4	United States Treasury Inflation Indexed Bonds 0.125% 10/15/2025	1,020,150	99.55	1,015,509.34	11.27	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.125% 10/15/2025	91282CAQ4	91282CAQ4	1,020,150	1,015,509.34	11.27%
08/15/2022	CPII	9128286N5	United States Treasury Inflation Indexed Bonds 0.5% 04/15/2024	1,007,544	100.05	1,008,065.36	11.19	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.5% 04/15/2024	9128286N5	9128286N5	1,007,544	1,008,065.36	11.19%
08/15/2022	CPII	912828XL9	United States Treasury Inflation Indexed Bonds 0.375% 07/15/2025	1,004,578	100.31	1,007,669.32	11.19	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.375% 07/15/2025	912828XL9	912828XL9	1,004,578	1,007,669.32	11.19%
08/15/2022	CPII	912828YL8	United States Treasury Inflation Indexed Bonds 0.125% 10/15/2024	1,011,063	99.56	1,006,580.64	11.17	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.125% 10/15/2024	912828YL8	912828YL8	1,011,063	1,006,580.64	11.17%
08/15/2022	CPII	912828B25	United States Treasury Inflation Indexed Bonds 0.625% 01/15/2024	998,300	100.15	999,786.15	11.10	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.625% 01/15/2024	912828B25	912828B25	998,300	999,786.15	11.10%
08/15/2022	CPII	912828WU0	United States Treasury Inflation Indexed Bonds 0.125% 07/15/2024	1,003,298	99.66	999,863.89	11.10	9,007,785	450,000	18		United States Treasury Inflation Indexed Bonds 0.125% 07/15/2024	912828WU0	912828WU0	1,003,298	999,863.89	11.10%
08/15/2022	CPII	Cash&Other	Cash & Other	591,482	1.00	591,482.47	6.57	9,007,785	450,000	18	Y	Cash & Other	Cash&Other	Cash&Other	591,482	591,482.47	6.57%
08/15/2022	CPII	CPIISWAPTION2022063001	IR SWAPTION PAYER 3.40% 06/28/2024	18,000,000	0.01	203,490.00	2.26	9,007,785	450,000	18		IR SWAPTION PAYER 3.40% 06/28/2024	CPIISWAPTION2022063001	CPIISWAPTION2022063001	18,000,000	203,490.00	2.26%
08/15/2022	CPII	CPIISWAP2022063002	INFLATION SWAP REC CPI PAY 2.89% 06/30/2027	9,000,000	1.48	133,411.25	1.48	9,007,785	450,000	18		INFLATION SWAP REC CPI PAY 2.89% 06/30/2027	CPIISWAP2022063002	CPIISWAP2022063002	9,000,000	133,411.25	1.48%

Literature

Purchase Information

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The Ionic Inflation Protection ETF (CPII) is available through various channels including via phone (866) 214-2234, broker-dealers, investment advisors, and other financial services firms.