Fund Description: U.S. Vegan Climate ETF is an exchange-traded index fund or Index ETF which is a separate investment portfolio of the ETF Series Solutions, an open-end investment management company. INVESTMENT OBJECTIVE: The U.S. Vegan Climate ETF seeks investment results that, before fees and expenses, closely correspond to the performance of the Beyond Investing US Vegan Climate Index. INDEX DESCRIPTION: The Beyond Investing US Vegan Climate Index’s construction begins with the constituents of the Solactive US Large Cap Index, consisting of approximately 500 of the largest U.S.-listed companies (the Large Cap Equity Universe). The Index screens large cap US companies for a variety of ESG (Environmental, Social, Governance) considerations, primarily animal harm and exploitation, as well as fossil fuels, environmental damage, and human rights. By tracking the index, VEGN seeks to invest in companies that offer: A humane approach; Animal-friendly; and Good for the environment, good for people. Through its passive rules-based approach VEGAN seeks to avoid investments in companies whose activities directly contribute to animal suffering, destruction of the natural environment and climate change. FUND STRATEGY: The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of any collateral held from securities lending) will be invested in the component securities of the Index. The Fund will generally use a replication strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index in approximately the same proportion as in the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole. The Fund generally may invest up to 20% of its total assets (exclusive of any collateral held from securities lending) in securities or other investments not included in the Index, but which the Fund’s sub-adviser believes will help the Fund track the Index and that do not derive more than a de minimis proportion of their total revenue from Prohibited Activities. FUND MANAGEMENT: Beyond Investing LLC serves as the adviser to the Fund. Penserra Capital Management, LLC serves as the Sub-Adviser.