Defender Risk Adaptive 500 ETF (SPDF)

Defender Risk Adaptive 500 ETF (SPDF) is an exchange-traded fund in the Tactical Allocation category. It has $19.30M in assets and an expense ratio of 0.69%. The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in U.S. large cap equities, primarily through ETFs that provide exposure to the broad U.S. large-cap equity market, with an actively managed risk overlay. The risk overlay involves a proprietary technical analysis model that is employed by Tamarisk Capital Management LLC (“Tamarisk”), a sub-advisor to the fund, as a means for determining the optimal market exposure at a given…