Fund Description: Siren DIVCON Leaders Dividend ETF formerly, Reality Shares DIVCON Leaders Dividend ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the Siren ETF Trust, an open-end investment management company. <p> INVESTMENT OBJECTIVE: Siren DIVCON Leaders Dividend ETF is to seek long-term capital appreciation by tracking the performance, before fees and expenses, of the Reality Shares DIVCON Leaders Dividend Index. <p> INDEX DESCRIPTION: The Reality Shares DIVCON Leaders Dividend Index is designed to capitalize on the theory that, over time, companies that consistently grow their dividends tend to have investment returns above the overall market. The Index is designed to select the companies that have the highest probability of increasing their dividend in a 12-month period. These probabilities are determined by Reality Shares’ DIVCON Scoring system, which is a proprietary, rules-based scoring and weighting methodology, and are expressed as a DIVCON Score and DIVCON Rating for each company. The DIVCON Scoring system begins by identifying the 500 largest U.S. companies based on market capitalization and then narrows this universe to those companies that paid an ordinary dividend and announced a future dividend payment during the 12 months preceding such date. The DIVCON Scoring system analyzes quantitative factors that Reality Shares has determined to be correlated to a company’s likelihood to increase or decrease future dividends, and weights each factor based on its effectiveness in predicting dividend changes to produce a company’s DIVCON Score. Each company is assigned a rating from 1 to 5 and all DIVCON 5 stocks or the 30 stocks with the highest DIVCON Scores, whichever is greater, are selected for inclusion in the Index. The Index is reconstituted annually. <p> FUND STRATEGY: The Adviser employs a passive indexing investment approach. Under normal circumstances, at least 80% of the Fund’s assets (other than collateral held from securities lending, if any) will be invested in component securities of the Index. The Fund generally uses a replication strategy to achieve its investment objective, meaning that it will invest in all of the securities included in the Index. The Fund may, however, use a representative sampling approach to achieve its investment objective when the Adviser believes it is in the best interest of the Fund, meaning that the Fund may invest in a subset, or sample, of the securities included in the Index and whose risk, return and performance characteristics generally match the risk, return and performance characteristics of the Index as a whole. The Fund reserves the right to invest up to 20% of its assets in swaps, futures, forwards, options, exchange traded funds (ETFs) and other securities that are not components of the Index that the Adviser believes will help the Fund track the Index. The Fund seeks to remain fully invested at all times in securities and or financial instruments that, in combination, provide exposure to the Index without regard to market conditions, trends or direction. The Fund is considered to be non-diversified. <p> FUND MANAGEMENT: SRN Advisors, LLC serves as the investment adviser to the Fund.