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ConvexityShares™ is diversifying the volatility space. We’re providing new choices and expanding opportunities for traders and sophisticated investors to both manage risk and seek to capitalize on moves in volatility.

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Options now available on SPKX & SPKY

ConvexityShares 1x SPIKES Futures ETF (SPKX)

For traders and sophisticated investors who seek to take advantage of changes in volatility in broad-based U.S. equities, SPKX offers exposure to a 1X daily rolling long position, which seeks investment results (before fees and expenses) that match the performance of the T3 SPIKE Front 2 Futures Index (the "SPIKES Futures Short-Term Index" – symbol: SPKF).

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ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY)

SPKY is a 1.5x leveraged volatility fund, which offers more exposure to volatility and is benchmarked against the T3 SPIKE Front 2 Futures Index (the "SPIKES Futures Short-Term Index" - symbol: SPKF). For every 1% daily movement in the index, the fund seeks to move 1.5%, empowering traders and sophisticated investors to take advantage of changes in volatility.

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Important Risks

The Funds present significant risks not applicable to other types of funds, including risks relating to investing in SPIKES futures contracts and leveraged ETF risks. Leveraged ETFs pursue daily leveraged investment objectives, which means they are riskier than alternatives which do not use leverage. They seek daily goals and should not be expected to track the underlying index performance over periods longer than one day, due to compounding will differ in amount and possibly even direction from the leveraged fund's stated multiple times the return of the index for the same period. The Funds are not suitable for all investors and should be utilized only by investors who understand leverage risk and compounding and who actively manage their investments. The return of the leveraged fund for a period longer than a single day is the result of its return for each day compounded over the period and usually will differ in amount and possibly even direction from the leveraged fund's stated multiple times the return of the index for the same period. These differences can be significant. The Funds' investments may be illiquid and/or highly volatile and the funds may experience large losses from buying, selling, or holding such investments, including the loss of their entire investment.

Benefits of SPIKES ETFs

At ConvexityShares, we aim to improve the experience of trading volatility ETFs through enhanced technology in the underlying index and competitive low fees.

Based on SPY

The SPIKES Volatility Index is based on SPY options which are traded on ALL US options exchanges. It uses live SPY options prices to calculate volatility

Cost Effective

SPIKES ETFs are accessible to traders and sophisticated investors, and our 1x and 1.5x leverage funds now provide access to volatility as an asset class at a competitive price point for investors.

More Choice

To manage risk and capitalize on moves in volatility, traders and sophisticated investors can trade ConvexityShares ETFs through brokerages or an individual retail account.

Accurate Index

The SPIKES Volatility Index uses cutting edge ‘price dragging’ calculation methodology which seeks to insulate the index from erratic movements through a blend of trades, bid and offer prices.

The Funds may be highly volatile and generally are intended for short-term investment purposes only. Investors cannot directly invest in an index.

Our Prospectus

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SPIKES ETFs

SPIKES Futures ETFs offer a new way to manage risk and capitalize on moves in volatility. Bringing much-needed diversification and competition to the marketplace, SPIKES Futures ETFs provide cost-effective access to volatility in standard brokerage accounts.

The Funds are benchmarked to the T3 SPIKE Front 2 Futures Index and are not benchmarked to the SPIKES Index. The T3 SPIKE Front 2 Futures Index and the SPIKES Index are two separate indexes and can be expected to perform very differently.

About the Indexes

The SPIKES Volatility Index (SPIKE) is a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY), utilizing a proprietary price dragging technique in its calculation to insulate from erratic movement.

For more information on SPIKES, visit www.miaxoptions.com/spikes

The SPIKES Futures Short-Term Index (SPKF) measures the return from a daily rolling long position in the SPIKES futures contracts traded on MGEX (Minneapolis Grain Exchange). The index is comprised of the first and second contract months, with a daily roll schedule to maintain an average tenor of one month.

For more information on the SPIKES Futures Short-Term Index, see here.

Futures are derivative financial contracts that obligate the parties to transact an asset at a predetermined future date and price. The buyer must purchase or the seller must sell the underlying asset at the set price, regardless of the current market price at the expiration date.

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Important Information

An investor should only consider an investment in a Fund if he or she understands the consequences of seeking exposure to SPIKES futures contracts. The Funds are benchmarked to the T3 SPIKE Front 2 Futures Index (the “SPIKES Futures Short-Term Index”); the Funds are not benchmarked to the SPIKES Volatility Index.

The use of leverage present significant risks not applicable to other types of funds and may be illiquid and/or highly volatile. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. The funds are not suitable for all investors and should only consider an investment in the funds if he or she understands the consequences of seeking daily leveraged results and the impact of compounding and who intends to actively monitor their investments.

The SPIKES Futures Short-Term Index consists of short-term SPIKES Futures contracts. As such, the performance of the Index can be expected to be very different from the actual volatility of SPY or the performance of the SPIKES Volatility Index. As a result, the performance of the Funds also can be expected to be very different from the actual volatility of SPY or the performance of the SPIKES Volatility Index, or the performance of one-and-a-half times (1.5x) of the actual volatility of SPY or the performance of one-and-a-half times (1.5x) the SPIKES Volatility Index. Nonetheless, the Index and the Funds would be expected to underperform in less volatile markets than in more volatile markets. If the Index declines by more than 66.67% on a given trading day, the Leveraged Fund’s investors would lose all of their money. This would be the case with any such single day movements in the Index, even if the Index maintains a level greater than zero at all times.

Unlike certain other asset classes that, in general, have historically increased in price over long periods of time, the volatility of SPY as measured by the SPIKES Volatility Index has historically reverted to a long-term average level over time. This means that the potential upside of an investment in a Fund may be limited. In addition, gains, if any, may be subject to significant and unexpected reversals. Investors holding Shares of the Funds beyond short-term periods have an increased risk of losing all or a substantial portion of their investment. The Funds generally are intended to be used only for short-term investment horizons. Shareholders who invest in the Funds should actively manage and monitor their investments, as frequently as daily.

In the event that the MGEX (Minneapolis Grain Exchange) Order is deemed unlawful, the SPIKES futures contracts could be deemed to be “securities” and fall within the definition under the Investment Company Act of 1940.

Futures may be affected by Backwardation: a market condition in which a futures price is lower in the distant delivery months than in the near delivery months. As a result, the fund may benefit because it would be selling more expensive contracts and buying less expensive ones on an ongoing basis; and Contango: A condition in which distant delivery prices for futures exceeds spot prices, often due to costs of storing and inuring the underlying commodity. Opposite of backwardation. As a result, the Fund’s total return may be lower than might otherwise be the case because it would be selling less expensive contracts and buying more expensive ones.

Daily compounding of the Leveraged Fund’s investment returns can dramatically and adversely affect its long-term performance, especially during periods of high volatility. Volatility has a negative impact on a Fund’s performance and may be at least as important to the Fund’s return for a period as the return of the Fund’s underlying Index. An investor in any of the funds could potentially lose the full principal value of his/her investment within a single day.

Investors should consider the investment objectives, risks, charges, and expenses carefully before investing. For a prospectus with this and other information about the Fund, please email info@convexityshares.com or download a prospectus by clicking here. Read the prospectus carefully before investing.

Foreside Fund Services, LLC is the Marketing Agent to the ConvexityShares SPIKES Futures ETFs.