Fund Description: InfraCap REIT Preferred ETF is a diversified exchange-traded index fund or Index ETF which is a separate investment portfolio of the ETFis Series Trust I, an open-end investment management company. INVESTMENT OBJECTIVE: The InfraCap REIT Preferred ETF seeks to provide investment returns that closely correspond to the price and yield performance of the Indxx REIT Preferred Stock Index. INDEX DESCRIPTION: The Indxx REIT Preferred Stock Index is a modified market capitalization weighted index designed to provide diversified exposure to high yielding liquid preferred securities issued by REITs listed in the U.S. In a market capitalization weighted index, each component security is weighted by the issuer’s market capitalization relative to the overall capitalization of the index. To be included in the Index, a security generally must meet minimum criteria as of each reconstitution date. Once the investment universe is appropriately narrowed based on the criteria, all remaining securities are chosen as index constituents, which are then weighted based on their modified market capitalization. FUND STRATEGY: Under normal market conditions, the Fund will invest not less than 90% of its assets in component securities of the Index. The Index is comprised of preferred securities listed on U.S. exchanges that are issued by real estate investment trusts (REITs). Preferred securities are a class of equity security that typically pay fixed or floating dividends to investors and have preference over common stock (but are subordinated to bonds) in the payment of dividends and in the event of the bankruptcy or liquidation of a company’s assets. Although preferred securities represent an ownership interest in a company, preferred stockholders usually have no voting rights but typically have rights and characteristics similar to debt instruments. Preferred securities in the Index may include, without limitation, floating and fixed-rate preferred securities, callable preferred securities, cumulative and non-cumulative preferred securities, convertible preferred securities, trust preferred securities and depositary preferred securities. A REIT is a corporation, trust or association dedicated to owning, operating or financing income-producing real estate. To qualify as a REIT it is required to distribute at least 90% of its taxable income to shareholders annually and receive at least 75% of that income from rents, mortgages and sales of property. The Fund uses a passive or indexing investment approach to try to approximate the investment performance of the Index. Unlike many investment companies, the Fund will not seek to beat the performance of the Index and will not seek temporary defensive measures when markets decline or appear overvalued. The Fund is not required to purchase all of the securities in the Index. Instead, the Sub-Adviser may invest in a representative sample of securities that, in the aggregate, approximates the key characteristics of the Index, including, without limitation, market capitalization, industry weightings, yield and liquidity measures. FUND MANAGEMENT: Virtus ETF Advisers LLC is the Fund’s investment adviser. Capital Advisors, LLC is the Fund’s sub-adviser