Fund Description: Hull Tactical US ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Exchange Traded Concepts Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Hull Tactical US ETF seeks long-term capital appreciation. The Fund is an actively managed ETF and thus, does not seek to replicate the performance of a specific index, but rather uses an active investment strategy to meet its investment objective, however, an actively managed ETF may have an index-based benchmark. Accordingly, the ETF’s investment sub-advisor, HTAA, has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective and investment policies. FUND STRATEGY: The Fund seeks to achieve its investment objective by taking long and short positions in one or more exchange-traded funds (ETFs) that seek to track the performance of the S&P 500 Index (each an S&P 500-related ETF or an Underlying ETF). The S&P 500 Index is a widely recognized benchmark of U.S. stock market performance that is composed primarily of large-capitalization U.S. issuers. HTAA utilizes various proprietary, analytical investment models that examine current and historical market data to attempt to predict the performance of the S&P 500 Index. The models deliver investment signals that HTAA uses to make investment decisions for the Fund. Depending on the discretion of HTAA and the investment signals delivered by the models, HTAA may take certain long or short positions in one or more S&P 500-related ETFs and S&P 500-related futures. When the Fund takes long positions, it may maintain long exposure of up to 200% of its net assets; exposure to short positions is limited to no more than 100% of its net assets. HTAA may adjust the Fund’s long and short positions when necessary to take into account new market conditions as well as data from the models. Positions may be adjusted at HTAA’s discretion as model predictions and market opportunities fluctuate. In seeking to achieve its investment objective, the Fund may engage in short sales of S&P 500-related ETFs. The Fund may also invest up to 10% of its total assets in leveraged or inverse ETFs that seek to deliver multiples (long), or the inverse (short), of the performance of the S&P 500 Index, respectively. However, in seeking its investment objective, the Fund does not seek performance that is a specific multiple or inverse, or inverse multiple of the S&P 500 Index. The Fund may invest in leveraged or inverse ETFs on a daily basis or longer consistent with HTAA’s views on prevailing and anticipated market conditions. The Fund will enter into futures contracts, to seek the desired long or short exposure to the S&P 500 Index. The Fund trades futures only when doing so may provide an efficient means of seeking exposure to the S&P 500 Index that is complementary to its investment in shares of an S&P 500-related ETF. The Fund may invest in cash instruments, which includes U.S. Treasury obligations; cash and cash equivalents including commercial paper, certificates of deposit and bankers’ acceptances; repurchase agreements; shares of money market mutual funds; and high-quality, short-term debt instruments including, in addition to U.S. Treasury obligations, other U.S. government securities. Additionally, to respond to certain adverse market, economic, political or other conditions, the Fund may invest 100% of its assets, without limitation, in Cash Instruments. FUND MANAGEMENT: Exchange Traded Concepts, LLC serves as the investment adviser to the Fund. HTAA, the Investment Sub-Adviser, and Vident Investment Advisory LLC, the Trading Sub-Adviser, serve as sub-advisers to the Fund.