MSPW — Tuttle Capital MSTR Put Write ETF

MSPW Fund Overview

MSPW — Tuttle Capital MSTR Put Write ETF is a US ETF managed by ETF Opportunities Trust, categorised as Global (incl. US) Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: ETF Opportunities Trust
• Category: Global (incl. US) Equity
• Ticker: MSPW
• SEC CIK: 0001771146
• SEC series ID: S000090492
• Share class ID: C000257747

MSPW Investment Objective and Strategy

Tuttle Capital MSTR Put Write ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by ETF Opportunities Trust.

Investment objective

The investment objective of the Tuttle Capital MSTR Put Write ETF (the Fund) is to seek current income.

Principal investment strategy

"The Fund is an actively managed exchange-traded fund (ETF) that seeks current income primarily by selling (writing) put options on shares of MicroStrategy Inc. (NASDAQ: MSTR) (the Underlying Security) and collecting the premiums paid by the purchasers of the put options. Specifically, the Fund seeks to maximize current income by selling cash-covered out-of-the-money or at-the-money put options on the Underlying Security (Puts), meaning that the strike price of a Put will be below or at the current price of the Underlying Security. If the price of the Underlying Security stays above the strike price of a particular Put by the time the Put expires, the Fund will realize gains by collecting the premiums paid by the Put purchaser. Should the price of the underlying Security fall below the strike price of a specific Put, the Fund will incur losses.

Accordingly, the Fund is intended for investors who believe the price of the Underlying Security will stay flat or rise. The Fund will sell Puts that utilize the Underlying Stock as the reference asset. The Fund will utilize exchange-traded options and non-standardized FLexible EXchange Options (also referred to as FLEX Options""). Exchange-traded options are standardized with set contract terms, such as the style (call or put), the reference asset, the strike price and expiration date. Exchange-listed options contracts are guaranteed for settlement by the Options Clearing Corporation (OCC). FLEX Options are non-standardized options, meaning that a user, such as the Fund, can specify the key contract terms that are normally standardized for exchange-traded options. As the seller of the Puts, the Fund receives cash (also called a premium) from the purchaser for each Put sold.

Each Put contract sold by the Fund will commit the Fund to buying 100 shares of the Underlying Security at the strike price if the Put owner exercises its option. If a Put sold by the Fund is exercised prior to expiration (assigned or put to the Fund), the Fund will purchase 100 shares of the Underlying Security at the time of exercise at the strike price and will hold the Underlying Security shares until they are liquidated. The Fund intends to write Puts that are American style options, meaning that the Put is exercisable at the strike price at any time prior to the option expiration date. However, the Fund may close out in-the-money put options before expiration to avoid having to purchase shares of the Underlying Security. The Adviser has discretion to write Puts with either a weekly or monthly expiration date and at various strike prices that the Adviser believes will maximize income while minimizing the potential for loss.

Puts with weekly expirations will expire on Friday of each week. Puts with monthly expirations will expire on the third Friday of every month. The strike price at which the Fund sells the Puts will depend on prevailing market conditions and the sold Puts positions will be reestablished weekly or more frequently. The Fund generally closes out the Puts prior to their expiration dates, and newly selected Puts are sold by the Fund on the same day (the Roll Date) in a process known as rolling. Rolling refers to the practice of closing out one options position and opening another with a different expiration date and/or a different strike price. The Fund will enter into new Puts when the existing Puts have expired, closed, or rolled early. The Fund will invest its premium proceeds in short-term U.S.

Treasury securities and money market instruments as collateral for the options and to generate income. The market value of the cash, money market instruments and U.S. Treasury securities held by the Fund is expected to comprise a substantial portion of the Funds net assets. The Fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in written Puts on the Underlying Security. For purposes of the 80% test, written Puts will be valued at their notional value. This Policy is non-fundamental and requires 60 days prior written notice to shareholders before it can be changed. The Fund will seek to employ its investment strategy regardless of whether there are periods of adverse market, economic, or other conditions and will not seek to take temporary defensive positions during such periods.

The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund. The Fund will be concentrated in the industry to which the Underlying Security is assigned (i.e., hold 25% or more of its total assets in investments that provide exposure in the industry to which the Underlying Security is assigned). As of the date of this prospectus, MSTR is assigned to the information technology sector and the software industry. The Funds portfolio will primarily consist of the Put contracts, U.S. Treasuries and cash. In the event a Put purchaser exercises a Put and the Fund is forced to buy the Underlying Security from the purchaser and take delivery of the Underlying Security, the Adviser has discretion to hold the Underlying Security until the Adviser believes it is advantageous to sell the Underlying Security, it may write covered call options on the Underlying Security, or immediately sell the Underlying Security for liquidity purposes.

The Funds investment strategy is not intended to track the performance of the Underlying Security and the Funds performance will differ from that of the Underlying Security. The performance differences will depend on, among other things, the Underlying Securitys value, changes in the value of the Puts the Fund has sold, and changes in the value of the U.S. Treasuries and money market instruments held by the Fund. The Funds ability to achieve its investment objective of current income is not dependent on the price appreciation of the Underlying Security. MicroStrategy is the world's first and largest bitcoin treasury company. MicroStrategy is a publicly traded company that has adopted bitcoin as its primary treasury reserve asset. By using proceeds from equity and debt financings, as well as cash flows from its operations, MicroStrategy strategically accumulates bitcoin and advocates for its role as digital capital.

MicroStrategys treasury strategy is designed to provide investors varying degrees of economic exposure to bitcoin by offering a range of securities, including equity and fixed income instruments. As of September 30, 2024, MicroStrategy held 252,220 bitcoins, representing approximately 82% of MicroStrategys total assets. In addition, MicroStrategy provides industry-leading AI-powered enterprise analytics software. MSTR is registered under the Securities Exchange Act of 1934, as amended (the Exchange Act). Information provided to or filed with the Securities and Exchange Commission by MicroStrategy Inc. pursuant to the Exchange Act can be located by reference to the Securities and Exchange Commission file number 0-24435 through the Securities and Exchange Commissions website at www.sec.gov. In addition, information regarding MicroStrategy Inc.

may be obtained from other sources including, but not limited to, press releases, newspaper articles and other publicly disseminated documents. As of the date of this prospectus, MSTR is assigned to the information technology sector and the software industry. The Fund has derived all disclosures contained in this document regarding MicroStrategy Inc. from the publicly available documents described above. Neither the Fund, the Trust, the Adviser nor any affiliate has participated in the preparation of such documents. Neither the Fund, the Trust, the Adviser nor any affiliate makes any representation that such publicly available documents or any other publicly available information regarding MicroStrategy Inc. is accurate or complete. Furthermore, the Fund cannot give any assurance that all events occurring prior to the date of the prospectus (including events that would affect the accuracy or completeness of the publicly available documents described above) that would affect the trading price of MSTR have been publicly disclosed.

Subsequent disclosure of any such events or the disclosure of, or failure to disclose, material future events concerning MicroStrategy Inc. could affect the value of the Funds investments with respect to MSTR and therefore the value of the Fund. Description of Bitcoin, the Bitcoin Blockchain, relationship of Bitcoin to the Bitcoin Blockchain. Digital asset networks, including the bitcoin peer-to-peer network and associated blockchain ledger (the Bitcoin blockchain and together the Bitcoin network) were introduced within the past 15 years. Bitcoin is a digital asset that is created and transmitted through the operations of the peer-to-peer Bitcoin network, a decentralized network of computers that operates on cryptographic protocols. Bitcoin and the Bitcoin blockchain are designed to serve as an alternative payment system.

No single entity owns or operates the Bitcoin network, the infrastructure of which is collectively maintained by its user base. The Bitcoin network allows people to exchange tokens of value, called bitcoin, which are recorded on a public transaction ledger known as the Bitcoin blockchain. Bitcoin can be used to pay for goods and services, or it can be converted to fiat currencies, such as the U.S. dollar, at rates determined on Bitcoin platforms that enable trading in bitcoin or in individual end-user-to-end-user transactions under a barter system. Although Bitcoin and similar crypto assets have been called cryptocurrencies, they are not widely accepted as a means of payment. The Bitcoin network is commonly understood to be decentralized and does not require governmental authorities or financial institution intermediaries to create, transmit or determine the value of bitcoin.

Rather, bitcoin is created and allocated by the Bitcoin network protocol through a mining process. The value of bitcoin is determined by the supply of and demand for bitcoin on Bitcoin platforms or in private end-user-to-end-user transactions. New bitcoin are created and rewarded to the miners of a block in the Bitcoin blockchain for verifying transactions. The Bitcoin blockchain is a shared database that includes all blocks that have been solved by miners and it is updated to include new blocks as they are solved. Each bitcoin transaction is broadcast to the Bitcoin network and, when included in a block, recorded in the Bitcoin blockchain. The Fund intends to make monthly distribution payments to shareholders."

MSPW Costs and Fees

MSPW costs about $65 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.65%
• Gross expense ratio: 0.65%

MSPW Debt Constituents

No individual debt constituents are reported in Tuttle Capital MSTR Put Write ETF's latest SEC N-PORT filing.

MSPW Prospectus and SEC Filings

Official Tuttle Capital MSTR Put Write ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2025-02-24

Related Funds

Other Global (incl. US) Equity funds tracked on ABC INVEST:

• REX-Osprey SOL + Staking ETF (SSK)
• Defiance Daily Target 2X Long SpaceX ETF (SPCU)
• Tradr 2X Short SpaceX Daily ETF (SPCG)
• Defiance Daily Target 2X Long AMAT ETF (AMA)
• Defiance Daily Target 2X Short MU ETF (MUZ)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.