Fund Description: Cambria Global Asset Allocation ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Cambria ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Cambria Global Asset Allocation ETF seeks investment results that closely correspond to the price and yield performance, before fees and expenses, of the Cambria Global Asset Allocation Index. INDEX DESCRIPTION: The Cambria Global Asset Allocation Index is designed to provide diversified exposure, including inverse exposure, to all of the major world asset classes in the various regions, countries and sectors around the globe. At each rebalance date, the Index identifies a group of exchange-traded vehicles (ETVs) that provide exposures of approximately 40% to equity securities, 40% to fixed income securities and 20% to other asset classes, such as commodities and currencies. The Index uses a proprietary algorithm to select ETVs and other instruments based on the exposure they provide to various investment factors, such as value, momentum and trend investing. The Index defines equity exposures to include ETVs that track stock indices, closed-end funds, real estate investment trusts (REITs), exchange-traded currency trusts, common stock, preferred stock and convertible securities of issuers of any market capitalization. The Index defines fixed income exposures to include ETVs that track fixed income indices, exchange-traded notes, securities issued by the U.S. Government and its agencies, sovereign debt and corporate bonds of any credit quality, including high yield (or junk) bonds. FUND STRATEGY: Under normal market conditions, the Fund invests at least 80% of its total assets in the components of the Index or in depositary receipts representing components of the Index. The Fund expects to employ a replication strategy in seeking to track the performance of the Index. This means that the Fund will typically seek to invest in substantially all of the components of the Index in approximately the same weights as they appear in the Index. If the Fund is unable to fully replicate the Index, it will use a representative sampling strategy. When sampling, the Fund may invest up to 20% of its net assets in instruments not included in the Index which the Adviser believes will help the Fund track the Index, including futures, options, swap contracts, cash and cash equivalents, and money market funds. FUND MANAGEMENT: Cambria Investment Management, L.P. serves as the investment adviser of the Fund.