Fund Description: Change Finance U.S. Large Cap Fossil Fuel Free ETF, formerly Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free ETF, is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the ETF Series Solutions, an open-end investment management company. INVESTMENT OBJECTIVE: The Change Finance U.S. Large Cap Fossil Fuel Free ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index. INDEX DESCRIPTION: The Change Finance Diversified Impact U.S. Large Cap Fossil Fuel Free Index uses an objective, rules-based methodology to measure the performance of an equal-weighted portfolio of approximately 100 large cap U.S.-listed companies that meet a diverse set of environmental, social, and governance (ESG) standards. Construction of the Index begins with the constituents of the Solactive US Large & Mid Cap Index (the Equity Universe), generally the 1,000 largest U.S.-listed common stocks and real estate investment trusts (REITs). Companies in the Equity Universe are then screened against the Index’s ESG criteria based on scores provided by Oekom Research AG (Oekom), an independent Germany-based analyst firm that publishes sustainability ratings utilizing over 500 different criteria on more than 3,000 companies worldwide. The Index’s ESG criteria include receiving a minimum Oekom score with respect to (i) whether a company’s primary business is in a prohibited industry (e.g., oil, gas, coal, tobacco); (ii) whether a company is involved in producing goods in a controversial business area (e.g., fossil fuels, nuclear power, genetically modified organisms, military weapons, pesticides); (iii) whether a company has a history of controversial business practices relating to human rights, labor rights, environmental protection, or business malpractice (e.g., corruption, extreme tax avoidance); as well as (iv) standards and performance criteria related to environmental impacts (e.g., emissions, harmful chemicals in product portfolio, biodiversity management) and human impacts (e.g., hiring practices related to diversity, supply chain standards, health risk in product portfolio). The remaining companies are then sorted by sector and ranked by their free-float market capitalization. At the time of each reconstitution of the Index, 100 companies are selected for inclusion in the Index and equal-weighted. The Index is reconstituted quarterly. FUND STRATEGY: The Fund uses a passive management (or indexing) approach to track the performance of the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Fund will generally use a replication strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole. The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index. FUND MANAGEMENT: Change Finance, PBC serves as the Adviser to the Fund. Vident Investment Advisory, LLC serves as the Sub-Adviser to the Fund.