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FIRI

FIRE Funds™ Income Target ETF

Fund Summary

FIRI is an actively-managed fund designed to seek current income, with an aim to provide a 4% target annual income level. Tailored to align with the Financial Independence and Retire Early (FIRE) lifestyle, FIRI offers a potential income stream to support financial goals.
 
Delivered through the efficient ETF structure, FIRI aims to offer liquidity, transparency, and tax efficiency, providing a flexible option for those interested in income-focused investing while working toward long-term financial independence.

Fund Documents

Fund Details

Fund Name: FIRE Funds™ Income Target ETF

Name Value
Fund Inception 11/18/2024
Ticker FIRI
Primary Exchange NYSE
CUSIP 886364215
Gross Expense Ratio 0.89%
Net Expense Ratio 0.70%
30 Day SEC Yield
As of 12/31/2024		 27.84%

*The 30-Day SEC Yield is calculated with a standardized formula mandated by the SEC. The formula is based on the maximum offering price per share and does not reflect waivers in effect.

**The Fund’s investment advisor has agreed to a 0.19% fee waiver effective through at least February 28, 2026.

Fund Data & Pricing

Name value
Net Assets $1.08m
NAV $19.67
Shares Outstanding 55,000
Premium/discount Percentage 0.54%
Closing Price $19.78
Median 30 Day Spread** 1.23%
Rate Date
01/22/2025

*30-Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Performance

Inception Date: 11/18/2024

Name
12/31/2024
Fund Name Ticker 1MO 3MO 6 Month YTD 1YR Since Inception (Cumulative) 3 Year 5 Year Since Inception (Annualized) Date
FIRI NAV -3.23 - - -2.5 - -2.5 - - - 12/31/2024
FIRI MKT -3.51 - - -2.4 - -2.4 - - - 12/31/2024
Name
12/31/2024
Fund Name Ticker 1MO 3MO 6 Month YTD 1YR Since Inception (Cumulative) 3 Year 5 Year Since Inception (Annualized) Date
FIRI NAV -3.23 - - -2.5 - -2.5 - - - 12/31/2024
FIRI MKT -3.51 - - -2.4 - -2.4 - - - 12/31/2024

The performance data quoted above represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on historical returns. Returns beyond 1 year are annualized.

A fund’s NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The market price is the most recent price at which the fund was traded.

Fund Distribution Details

Top 10 Holdings

Name
01/23/2025
Date Account StockTicker Name CUSIP Shares Price Market Value Weightings NetAssets SharesOutstanding CreationUnits MoneyMarketFlag
01/23/2025 FIRI CCSB Carbon Collective Short Duration Green Bond ETF 88636J535 3,473 20.25 70,328.25 6.50 1,082,103 55,000 11
01/23/2025 FIRI FGXXX First American Government Obligations Fund 12/01/2031 31846V336 18,877 100.00 18,877.51 1.74 1,082,103 55,000 11 Y
01/23/2025 FIRI FIAX Nicholas Fixed Income Alternative ETF 88634T535 2,826 19.16 54,145.31 5.00 1,082,103 55,000 11
01/23/2025 FIRI GDXY YieldMax Gold Miners Option Income Strategy ETF 88634T881 2,915 15.28 44,541.20 4.12 1,082,103 55,000 11
01/23/2025 FIRI MSTI Madison Short-Term Strategic Income ETF 557441201 10,736 20.38 218,842.62 20.22 1,082,103 55,000 11
01/23/2025 FIRI QQQY Defiance Nasdaq 100 Enhanced Options & 0DTE Income ETF 88636J154 1,725 30.31 52,280.61 4.83 1,082,103 55,000 11
01/23/2025 FIRI RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF 886364637 2,750 36.96 101,626.25 9.39 1,082,103 55,000 11
01/23/2025 FIRI SPAX Robinson Alternative Yield Pre-Merger SPAC ETF 886364678 10,857 20.05 217,682.85 20.12 1,082,103 55,000 11
01/23/2025 FIRI TAIL Cambria Tail Risk ETF 132061862 4,829 11.00 53,119.00 4.91 1,082,103 55,000 11
01/23/2025 FIRI THTA SoFi Enhanced Yield ETF 886364280 2,321 19.05 44,220.85 4.09 1,082,103 55,000 11
01/23/2025 FIRI ULTY YieldMax Ultra Option Income Strategy ETF 88636J527 5,826 8.79 51,210.54 4.73 1,082,103 55,000 11
01/23/2025 FIRI VETZ Academy Veteran Impact ETF 886364389 3,872 19.66 76,123.52 7.03 1,082,103 55,000 11
01/23/2025 FIRI XOMO YieldMax Xom Option Income Strategy ETF 88634T410 2,607 14.54 37,910.73 3.50 1,082,103 55,000 11
01/23/2025 FIRI YBIT YieldMax Bitcoin Option Income Strategy ETF 88636J428 2,948 12.86 37,914.82 3.50 1,082,103 55,000 11
01/23/2025 FIRI Cash&Other Cash & Other Cash&Other 3,281 1.00 3,281.21 0.30 1,082,103 55,000 11 Y
Download All Holdings

Holdings are subject to change and risk.

Invest

Investors should consider the investment objectives, risks, charges, and expenses of the ETF carefully before investing. For copies of our prospectus or summary prospectus, which contain this and other information, visit us online at www.fire-etfs.com or call (855) 514-2777. Please read the prospectus and/or summary prospectus carefully before investing. Investing in securities involves risk and there is no guarantee of principal.

Shares of the ETF may be bought or sold throughout the day at their market price on the exchange on which they are listed. The market price of an ETF’s shares may be at, above or below the ETF’s net asset value (“NAV”) and will fluctuate with changes in the NAV as well as supply and demand in the market for the shares. Shares of the ETF may only be redeemed directly with the ETF at NAV by Authorized Participants, in very large creation units. There can be no guarantee that an active trading market for the Fund’s shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling the Fund’s shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

ETFs: ETFs that the Fund may invest in are subject to market, economic and business risks that may cause their prices to fluctuate. Shareholders will pay higher expenses than would be the case if making direct investments in the underlying ETFs. Because the Fund invests in ETFs, it is subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of an ETF’s shares may trade at a discount to its net asset value (”NAV”), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Fund’s ability to sell its shares.

AUM: Assets under management (AUM) is the market value of the investments managed by a person or entity on behalf of clients. AUM is used in conjunction with management performance and management experience when evaluating a company.

SMA: A separately managed account (SMA) is a portfolio of securities that is managed by a professional investment firm for a single investor. SMAs are designed to be customized to meet the specific needs of the investor, and can include stocks, bonds, and other securities.

Inflation Risk: Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

Market Risk: The market value of the portfolio’s holdings rise and fall from day to day, so investments may lose value.

New Fund Risk: The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Non-Diversification Risk: As a non-diversified fund, the Fund may invest a larger portion of its assets in the securities of one or a few issuers than a diversified fund. A non-diversified fund’s investment in fewer issuers may result in the fund’s shares being more sensitive to the economic results of those issuers. An investment in the Fund could fluctuate in value more than an investment in a diversified fund.

* As of 11/30/2024, Mike Venuto manages a total of 236 accounts, including 60 registered investment companies and 176 other accounts. The AUM for the 60 registered investment companies is $8.2 billion, and the AUM for the Other accounts is $43 million.

** As of 11/30/2024, Dan Weiskopf manages a total of 33 accounts, including 5 registered investment companies and 28 other accounts. The AUM for the 5 registered investment companies is $1.2 billion, and the AUM for the Other accounts is $14 million.

Distributed by Foreside Fund Services, LLC. Foreside is not related to Investment Adviser, Tidal Investments, LLC.

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