Disclosures

These content has been provided to you by Cantor Fitzgerald & Co. (“CF&Co”) for information purposes only and may not be relied upon for any other purpose. This content has been prepared by sales and trading personnel. It reflects the views of such personnel and may differ from the views or opinions, if any, expressed by other CF&Co. personnel or its Research Department.     Any pricing information is indicative only. This content is intended only for “institutional investors” as defined under FINRA Rule 2210(a)(4) and Professional Clients as defined by the Financial Conduct Authority’s Conduct of Business sourcebook (COBS 3), and investors who CF&Co. reasonably believes are institutional investors or Professional Clients. As such, without CF&Co.’s written consent, it may not be reproduced, disseminated, distributed, redistributed, transmitted, retransmitted, forwarded or otherwise disclosed to any other party. You agree that you will not provide nor divulge any such content to any other party or summarize or otherwise refer to such content. You shall be responsible for any violations by your directors, partners, officers, employees, affiliates, agents, and representatives of the obligations set forth herein.   The information in this content is subject to change and CF&Co. and its affiliates undertakes no obligation to provide recipients with any additional information or any update to, or correction of, the information contained herein.

This content is not to be construed as securities offering, an offer to buy or sell, or a solicitation of an offer to buy or sell any security (including ETF’s, ETP’s or their underlying components) or asset or to participate in any trading strategy. It is not intended to form the basis of any investment decision and should not be considered a recommendation by CF&Co.. The content contained herein does not purport to contain all of the information that may be required to evaluate the products described herein, and you are strongly encouraged to read any offering documents, including the prospectus, registration statements and other regulatory filings. You should conduct your own independent analysis of any information referred to herein. You should conduct your own independent analysis of any data referred to herein. You are urged to review any additional information you may consider necessary or desirable in making an informed investment decision. CF&Co, its officers, employees, affiliates and partners shall not be liable to any person in any way whatsoever for any losses, costs or claims howsoever arising from any inaccuracies or omissions in the information contained herein or any reliance on such information.

Authorized Participant: CF&Co., has acted as an Authorized Participant (“AP”) and/ or as a Lead Market Maker (“LMM”) for various ETF (which may include those in this content) within the last 12 months and will likely act as an AP or LLM for such ETFs and additional ETF in the future. Therefore CF&Co may have positions in financial instruments mentioned herein, may have acquired such positions at prices no longer available, and may have interests different or adverse to your interests. No liability is accepted by CF&Co for any loss that may arise from any use of the information contained herein or derived therefrom.

You also understand that ETF shares are not individually redeemable and may only be created or redeemed in aggregate units generally known as “Creation Units” as described in a fund’s prospectus.

This content is for informational purposes only and is based on publicly available data believed to be reliable, but no representation is made that such data are accurate or complete. Any calculations and valuations presented herein are intended as a basis for discussion. Sources of information are believed to be reliable but CF&Co. and its affiliates makes no representation and gives no warranty that the information contained herein is accurate or complete. Any opinions or estimates given may change without notice to you. CF&Co. and its affiliates undertakes no obligation to provide recipients with any additional information or any update to or correction of the information contained herein.

Nothing contained herein should be construed as investment, legal, business, tax, or accounting advice. You should consult your own investment advisor, attorney, business advisor, tax advisor, and accounting advisor as to financial, legal, business, tax, accounting, and related matters concerning the suitability of securities or other products described herein. CF&Co. or its affiliates does not provide any tax advice. Any statement herein regarding any U.S. federal tax or state is not intended or written to be used, and cannot be used, by you for the purpose of avoiding or otherwise not paying any amount owed to such taxing authority. You should seek advice based upon your particular circumstances from an independent tax advisor. As such, this content may not be relied upon for the maintenance of your books and records for any tax, accounting, or legal purposes.

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Disclosures for UK investors

This content is approved for distribution in the United Kingdom by Cantor Fitzgerald Europe (“CFE”). CFE is authorised and regulated by the Financial Conduct Authority (“FCA”). While we believe this content and the materials upon which this content was based is accurate, except for any obligations under the rules of the FCA, we do not guarantee its accuracy. This content is only intended for use by eligible counterparties or professional clients who fall within articles 19 or 49 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2001 and not the general investing public. None of the investments or investment services mentioned or described herein are available to other persons in the U.K and in particular are not available to “retail clients” as defined by the rules of the FCA.

Disclosure for Canadian Institutional Investors

This content was prepared by Cantor Fitzgerald & Co. and not by Cantor Fitzgerald Canada Corporation. As a result, this content has not been prepared subject to Canadian Disclosure requirements. Cantor Fitzgerald Canada may distribute such content prepared by its affiliates.

Risks 

The financial instruments discussed in this content may not be suitable for all investors and investors must make their own investment decisions based on their specific investment objectives. Past performance should not be taken as an indication or guarantee of future performance. The price, value of and income from, any of the financial instruments featured in this content can rise as well as fall and be affected by changes in economic, financial and political factors. If a financial instrument is denominated in a currency other than the investor’s currency, a change in exchange rates may adversely affect the price or value of, or income derived from, the financial instrument, and such investors effectively assume currency risk.