ERY Daily Energy Bear 3x Shares ETF

Overview

Fund Symbol ERY
Daily Target -300%
Intra-day Indicative Value ERY.IV
Bloomberg Index Symbol IXE
CUSIP 25459Y454
ISIN US25459Y4540
Gross Expense Ratio 1.08%
Net Expense Ratio 0.95%*
Inception Date Nov 06, 2008

Pricing and Performance

Price Information
NAVs and market price information as of April 24, 2015

Ticker Fund Name NAV NAV Change $ NAV Change % Market Price Closing Market Price Closing Change($) Market Price Closing Change(%) Premium / Discount
ERY Daily Energy Bear 3x Shares 16.79 0.29 1.76 16.78 0.28 1.70 -0.01

Performance
NAVs and market price information as of April 24, 2015

All data as of 3/31/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
ERY Daily Energy Bear 3x Shares NAV 2.38 -3.66 -3.66 7.77 -29.71 -42.15 -50.40 1.08 / 0.95*
Market Close 2.38 -3.62 -3.62 7.83 -29.80 -42.15 -50.40
All data as of 3/31/2015
Ticker Fund Name   1 Mo % 3 Mo % YTD % 1 YR % 3 YR % 5 YR % 10 YR % Since Inception Inception Date Expense Ratio* (Gross/Net %)
ERY Daily Energy Bear 3x Shares NAV 2.38 -3.66 -3.66 7.77 -29.71 -42.15 -50.40 1.08 / 0.95*
Market Close 2.38 -3.62 -3.62 7.83 -29.80 -42.15 -50.40

* The Net Expense Ratio includes management fees and other operating expenses, but does not include expenses such as Acquired Fund Fees and Expenses, leveraged interest and brokerage commissions. The Funds’ Advisor, Rafferty Asset Management, LLC (“Rafferty”) has entered into an Operating Expense Limitation Agreement with the Fund. Under this agreement, Rafferty has contractually agreed to cap all or a portion of its management fee and/or reimburse the Fund for Other Expenses through September 1, 2016 to the extent that the Fund’s Total Annual Fund Operating Expenses exceed 0.95%.

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; an investor’s shares, when redeemed, may be worth more or less than their original cost; current performance may be lower or higher than the performance quoted. Returns for performance under one year are cumulative, not annualized.

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. Because of ongoing market volatility, fund performance may be subject to substantial short-term changes. For additional information, see the fund’s prospectus or summary prospectus. Index performance does not include any fees or expenses, are unmanaged and cannot be invested in directly.

Distributions

Ticker Fund Name Record Date Ex Date Pay Date Income Dividend Short-Term Capital Gain Long-Term Capital Gain