VistaShares

This address is how we stay in touch with the professionals who follow our work.

VistaShares delivers innovative Liquid Alternative investment solutions for today's investors. VistaShares ETFs are actively managed by industry and investment experts, offering a number of distinct strategies. Supercycle® Growth Equity ETFs seek exposure to technology-driven economic Supercycles® that the adviser believes may offer long-term growth potential. Target 15® option-income ETFs seek to generate monthly income while complementing a core equity portfolio. Income is not guaranteed and will vary, and the Target 15® name refers to the strategy's objective rather than a guaranteed or promised return. Investing involves risk, including possible loss of principal. There is no guarantee that any investment objective will be achieved, and past performance does not guarantee future results.

Before you ask

Is this advice?

No. Nothing from this address is a recommendation to buy or sell anything, and nothing on this page is an offer. It is written for people who evaluate strategies for a living and it assumes they will do their own work.

Why did this arrive?

Because your firm evaluates strategies of the kind these notes are about. If that is wrong, saying so once is enough and the address at the top of this page is the fastest way to say it.

What sources are used?

Published fee schedules, distribution notices, fund reports and market data. Where something is an estimate it says so, and where a figure has a date attached the date travels with it.

How do I stop these?

Reply and say stop, or write to the address on this page. It covers every address at your firm we hold and it does not expire.

Who reads the reply?

A person at the firm, not an automated queue. A reply asking to stop is acted on either way, and a reply asking a question gets an answer written by somebody who can be held to it rather than a link to a brochure.

About this address

vsharesdistribution.com belongs to VistaShares and we use it for the email we send. Our main website is vistashares.com, and that is where our published information lives.

If a message from vsharesdistribution.com reached you and you want to confirm it came from us, write to info@vistashares.com or call (844) 875-2288.

The work behind these notes

Notes from here cover turnover, and the reason it is worth reading beside a fee rather than under it. A strategy that replaces most of what it holds every year is paying spreads on all of it, and the person holding it is paying those spreads whether or not the trading earned anything, because the cost is certain and the benefit is a hope.

What makes turnover hard to read is that a high figure is not automatically bad. A rule that trades often may be doing exactly what it was built to do, and the question is not whether the trading is expensive but whether it is expensive enough to matter against what it is trying to capture.

The honest way to read it is as a hurdle rather than as a verdict.

A strategy trading heavily has to be right by more than the trading costs before anybody is better off, and that hurdle can be stated plainly instead of being left for a reader to infer.

Stating it also settles most arguments about it quickly. Once the hurdle is a number rather than an impression, the question stops being whether trading is good or bad and becomes whether this particular strategy clears this particular bar, which is answerable.