Wedbush Fund Advisers launched in 2024 to build on Wedbush’s 70-year legacy of market insight, innovation, and client trust. Our mission is to design forward-thinking investment strategies that reflect the evolving nature of markets and investor priorities. With a sharp focus on the themes shaping today’s global economy, we aim to deliver ETF solutions that are relevant, differentiated, and rooted in real-world insight. Backed by a seasoned team with decades of asset management experience, we’re committed to building a trusted platform that expands Wedbush’s tradition of excellence into the next era of investment innovation.
Our mission is to provide unparalleled investment products and services, grounded in a tradition of excellence and forward-looking innovation. We prioritize integrity, client success, and a relentless pursuit of growth opportunities.
The Solactive Wedbush Artificial Intelligence Index represents U.S.-listed equities identified as significant enablers or adopters of artificial intelligence technologies through their strategic focus, partnerships, innovation, product development, or integration of AI into their operations.
AI Technology Risk. AI technology is generally highly reliant on the collection and analysis of large amounts of data, and itis not possible or practicable to incorporate all relevant data into the model that such AI utilizes to operate. Certain data insuch models will inevitably contain a degree of inaccuracy and error – potentially materially so – and could otherwise beinadequate or flawed, which would be likely to degrade the effectiveness of the AI technology. Companies involved in, orexposed to, artificial intelligence-related businesses may have limited product lines, markets, financial resources or personnel. These companies face intense competition and potentially rapid product obsolescence, and many depend significantly on retaining and growing the consumer base of their respective products and services. Many of these companies are also reliant on the end-user demand of products and services in various industries that may in part utilize artificial intelligence. Further,many companies involved in, or exposed to, artificial intelligence-related businesses may be substantially exposed to the market and business risks of other industries or sectors, and the Fund may be adversely affected by negative developments impacting those companies, industries or sectors.
Calculation Methodology Risk. The Index relies directly or indirectly on various sources of information to assess the criteria of issuers included in the Index, including information that may be based on assumptions and estimates. Neither the Fund nor the Adviser can offer assurances that the Index’s calculation methodology or sources of information will provide an accurate assessment of included issuers or a correct valuation of securities, nor can they guarantee the availability or timeliness of the production of the Index.
Concentration Risk. The Fund’s investments will be concentrated in an industry or group of industries to the extent that the Index is so concentrated. In such event, the value of the Shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries.
Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at WedbushFunds.com. Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
Wedbush Funds are distributed by Foreside Fund Services, LLC.
Chief Operating Officer & General Counsel
Matthew (Matt) Bromberg is Chief Operating Officer & General Counsel at Wedbush Fund Advisers, LLC. He has extensive experience in ETFs and mutual funds, as well as separately managed accounts, robo-advisory and wrap fee programs. In various in-house roles, Matt has been responsible for providing legal counsel relating to registration, day-to-day operation, regulation of investment advisers and investment companies and related matters. Matt also has substantial experience with respect to broker-dealer activities under the federal securities laws, SRO rules and other relevant laws, including ERISA. Additionally, he served as counsel to a global custodian and provided strategic counsel to executive managers relating to corporate governance, human resources, operational and accounting matters, intellectual property and disputes. In private practice, at various nationally recognized law firms, Matt has represented financial institutions in transactional and regulatory matters with a focus on investment advisers, registered public funds, private investment funds, banks, and broker-dealers.Matt graduated from the University at Albany with a B.A. in Business Administration (B.A.B.A.) and earned his J.D. from Brooklyn Law School, specializing in Banking, Corporate, Finance, and Securities Law.
He is admitted to practice law in New York and is also Senior Vice President, Corporate Counsel at Wedbush Securities, an affiliate of Wedbush Fund Advisers, LLC.
Chief Investment Officer
Cullen Rogers is Chief Investment Officer at Wedbush Fund Advisers, LLC. In his role he leads the team responsible for portfolio oversight, trading execution, and strategy development, and serves as the portfolio manager for the exchange-traded funds (ETFs).
Prior to joining Wedbush, Cullen served as Chief Investment Officer and Portfolio Manager at Ascendant Advisors, where he led the management of actively traded mutual fund strategies, specializing in U.S. equities and opportunistic credit, after beginning his career as an analyst at Salient Partners (now Westwood Group). Additionally, he has developed and implemented multiple quantitative investment frameworks and systematic trading platforms within the fintech investment management space.
Cullen holds a FINRA Series 65 and received his B.B.A. from the University of Texas at Austin. He is also Chief Investment Officer of Qapital Invest, LLC, a registered investment adviser and affiliate of Wedbush Fund Advisers, LLC.
Chief Financial Officer
Daniel (Dan) Billings is Chief Financial Officer at Wedbush Fund Advisers, LLC. With over two decades of experience within financial services, Dan’s extensive background has included roles within accounting, treasury, financial reporting, and regulatory accounting. Prior to joining Wedbush, Dan served in multiple positions over the course of 15 years at Jefferies, including Vice President, Treasury, Senior Vice President, High Yield Trading Controller, and Senior Vice President, General Ledger Controller. He began his career as Audit Manager at KPMG US, where his clients included SEC registrants, asset managers, registered broker dealers, and precious metals brokers.
Dan currently holds his CPA and FINRA Series 27 license and earned his Bachelor of Science Degree in Accounting from Pepperdine University. He also is Executive Vice President and Chief Financial Officer at Wedbush Securities, an affiliate of Wedbush Fund Advisers, LLC.
Chief Compliance Officer
Erin Preston is Chief Compliance Officer at Wedbush Fund Advisers, LLC. She has significant experience engaging and partnering with senior leadership and multiple business lines to create a strong, flexible and innovative regulatory compliance environment. Prior to joining Wedbush, Erin was the Chief Compliance Officer with nabSecurities, the US broker-dealer of National Australia Bank, where she was responsible for the broker-dealer compliance and regulatory risk management program. Previously holding Chief Compliance Officer roles and senior legal roles in the broker-dealer and registered investment advisory industries, Erin specializes in the design and implementation of compliance programs in a fast-paced regulatory environment.
Erin graduated with Honors from The Ohio State University, with an B.A. in International Relations, and holds a law degree from Elizabeth Haub School of Law (Evening Division). She is licensed to practice law in New York and Connecticut and holds FINRA Series 7, 24, 63, and 99. Erin is a Certified Anti-Money Laundering Specialist (CAMS) and holds the Advanced Certification in Risk Management from ACAMS. She also serves as Senior Vice President and Chief Compliance Officer at Wedbush Securities, an affiliate of Wedbush Fund Advisers, LLC.
View chart Explanation
The Premium/Discount chart demonstrates the difference between the daily market price of shares of the Fund and the Fund’s net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
What does it mean when the Fund trades at a premium/discount to its NAV?
The primary explanation is that discrepancies can arise as a result of the timing of the calculation of Fund net asset value (NAV) and the trading price of the Fund on the open market. Open market prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund’s underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.
What causes these time differences?
Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.
Time of Last Trade. Trading of the Wedbush Funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade – from which the closing price is determined – may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to differ from the closing price.
International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.
View chart Explanation
The Premium/Discount chart demonstrates the difference between the daily market price of shares of the Fund and the Fund’s net asset value (NAV). The vertical axis of the chart shows the premium or discount of the daily market price as a percentage of the NAV. The horizontal axis shows each trading day in the time period, and each data point in the chart represents the Premium/Discount on that day. The data presented in the chart and table above represent past performance and cannot be used to predict future results.
What does it mean when the Fund trades at a premium/discount to its NAV?
The primary explanation is that discrepancies can arise as a result of the timing of the calculation of Fund net asset value (NAV) and the trading price of the Fund on the open market. Open market prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund’s underlying assets. The NAV of the Fund is only calculated once a day (normally at 4:00 p.m. eastern time). As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.
What causes these time differences?
Close of Trading Times. Although both the NAV and the daily market price of the Fund are generally calculated based on prices at the closing time of the exchange (generally 4:00 p.m. eastern time), slight differences in this timing may cause discrepancies.
Time of Last Trade. Trading of the Wedbush Funds generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade – from which the closing price is determined – may not occur at exactly 4:00 p.m. eastern time. Therefore, changing market sentiment during the time difference may cause the NAV to differ from the closing price.
International Holdings. The premiums and discounts for funds with significant holdings in international markets may be less accurate due to the different closing times of various international markets. Because the Funds trade during U.S. market hours while the underlying securities may not, the time lapse between the markets can result in differences between the NAV and the trading price.
| Distribution History | |||
|---|---|---|---|
| Ex-Date | Record Date | Payable Date | Amount |
| 2025 | |||
| 01/11/2025 | 01/11/2025 | 01/11/2025 | $0.257400 |
| 03/25/2025 | 03/25/2025 | 03/25/2025 | $0.357400 |
