Fund Description: Ideanomics NextGen Vehicles and Technology ETF, formerly Innovation Shares NextGen Vehicles & Technology ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Exchange Traded Concepts Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Ideanomics NextGen Vehicles and Technology ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Innovation Labs Next Generation Vehicles Index. INDEX DESCRIPTION: The Innovation Labs Next Generation Vehicles Index is designed to measure the performance of a portfolio of companies that have business involvement in the development or use of or investment in New Energy Vehicles, such as vehicles propelled by one or more electric motors powered by rechargeable battery packs, or Autonomously Driven Vehicles, such as vehicles capable of driving themselves from a starting point to a predetermined destination in autopilot mode using various in-vehicle technologies and sensors (Next Generation Vehicles). The Index is constructed using a proprietary algorithmic stock selection methodology developed by Innovation Labs Ltd. (the Index Creator). From an eligible universe with certain criterias, companies are screened according to the Methodology for their investment in, production of materials and components for, or development of technologies for Next Generation Vehicles using the Index Creator’s natural language processing (NLP) algorithm. The NLP algorithm reads through a large volume of textual data on an online media platform and databases and identifies companies that are strongly tied to Next Generation Vehicles and any derivatives of that technology. Once eligible companies are grouped into the four Stakeholder categories, Cryptocurrency Payees, Mining Enablers, Solutions Providers and Blockchain Users companies are ranked within their category. Certain rules are applied in constructing the final Index. Index components are reconstituted semi-annually and re-balanced on a quarterly basis. FUND STRATEGY: The Fund will normally invest at least 80% of its total assets in securities of the Index. The Fund employs a passive management investment strategy designed to track the performance of the Index. A replication methodology is used, meaning it will invest in all of the securities composing the Index in proportion to their respective weightings in the Index. However, the Sub-Adviser may utilize a sampling methodology under various circumstances, including when it may not be possible or practicable to purchase all of the securities in the Index. The Fund may invest up to 20% of its total assets in investments that are not included in the Index. FUND MANAGEMENT: Exchange Traded Concepts, LLC serves as the investment adviser to the Fund. Penserra Capital Management LLC serves as the sub-adviser to the Fund.