VistaShares

This address is how we stay in touch with the professionals who follow our work.

VistaShares delivers innovative Liquid Alternative investment solutions for today's investors. VistaShares ETFs are actively managed by industry and investment experts, offering a number of distinct strategies. Supercycle® Growth Equity ETFs seek exposure to technology-driven economic Supercycles® that the adviser believes may offer long-term growth potential. Target 15® option-income ETFs seek to generate monthly income while complementing a core equity portfolio. Income is not guaranteed and will vary, and the Target 15® name refers to the strategy's objective rather than a guaranteed or promised return. Investing involves risk, including possible loss of principal. There is no guarantee that any investment objective will be achieved, and past performance does not guarantee future results.

Whose address this is

vistasharescapital.com belongs to VistaShares, and every message that comes from it is ours. What we publish is not kept here: it lives on our main website, vistashares.com.

If a message from vistasharescapital.com reached you and you want to confirm it came from us, write to info@vistashares.com or call (844) 875-2288.

The subject of this address

This address writes about the difference between a fund price and what it holds. Those two numbers are not the same thing on any given day, the gap opens and closes with how easy the underlying is to trade, and a person buying at the wrong moment in that cycle has paid a cost that will never appear in any performance figure they are shown afterwards.

The mechanism is worth understanding rather than memorising. When the market for the underlying holdings is thin or shut, the visible price is a live opinion and the stated value is a stale calculation, and neither is wrong. Reading a gap as a bargain or as a warning without knowing which of the two is stale is how a cost gets paid twice.

Most of that cost is paid at the moment of trading and by the person trading.

Which is why the timing of an entry is a cost decision as much as it is a view, and why it is worth deciding in advance rather than in a hurry.

The practical habit that follows is unexciting: avoid the open and the close where the gap is widest, use a limit rather than a market order on anything of size, and treat a wide gap as information about the underlying rather than as an opportunity in itself.

Before you ask

Is this advice?

No. Nothing from this address is a recommendation to buy or sell anything, and nothing on this page is an offer. It is written for people who evaluate strategies for a living and it assumes they will do their own work.

Why did this arrive?

Because your firm evaluates strategies of the kind these notes are about. If that is wrong, saying so once is enough and the address at the top of this page is the fastest way to say it.

What sources are used?

Published fee schedules, distribution notices, fund reports and market data. Where something is an estimate it says so, and where a figure has a date attached the date travels with it.

How do I stop these?

Reply and say stop, or write to the address on this page. It covers every address at your firm we hold and it does not expire.

Who reads the reply?

A person at the firm, not an automated queue. A reply asking to stop is acted on either way, and a reply asking a question gets an answer written by somebody who can be held to it rather than a link to a brochure.