HISTORICAL PREMIUM/DISCOUNT

 

PREMIUM/DISCOUNT SINCE INCEPTION

Days at premium
Days at NAV
Days at discount

HOLDINGS

Holdings data as of TBD

Number of holdings: TBD

Ticker	CUSIP	Company	% of Fund	Quantity

Holdings are subject to change.

Leveraged ETFs are riskier than alternatives which do not use leverage and are not suitable for investors. They seek daily goals and should not be expected to track the underlying index over periods longer than one day. They are not suitable for all investors and should be utilized only by sophisticated investors who understand leverage risk and who actively manage their investments.

The AXS Short China Internet ETF, Investment Managers Series Trust II, and AXS Investments LLC are not affiliated with the KraneShares CSI China Internet ETF or Krane Funds Advisors, LLC.

IMPORTANT RISK INFORMATION

The Fund presents different risks than other types of funds. The Fund is not suitable for all investors and should be used only by knowledgeable investors who understand the consequences of seeking daily inverse (-1x) investment results, including the impact of compounding on Fund performance. Investors in the Fund should actively manage and monitor their investments, as frequently as daily. An investor in the Fund could potentially lose the full principal value of their investment within a single day.

China risk: The China Internet ETF invests in Chinese companies. The Chinese economy is generally considered an emerging market and can be significantly affected by economic and political conditions in China and surrounding Asian countries. Compounding risk: The Fund has a single day investment objective, and performance for any other period is the result of its return for each day compounded over the period. Performance for periods longer than a single day will very likely differ in amount, and possibly even direction, from the inverse (-1x) of the daily return of the China Internet ETF for the same period, before accounting for fees and expenses. Compounding affects all investments but has a more significant impact on an inverse fund. This effect becomes more pronounced as the China Internet ETF volatility and holding periods increase. Correlation risk: There is no guarantee that the Fund will achieve a high degree of inverse correlation with the China Internet ETF, and failure to do so may prevent the Fund from achieving its investment objective. Derivatives risk: The Fund’s use of derivatives, which may be considered aggressive and may expose the Fund to greater risks and larger losses or smaller gains than investing directly in the reference asset(s) underlying those derivatives. Foreign securities risk: The China Internet ETF's investments in foreign securities can be riskier than U.S. securities investments. Investments in emerging markets are subject to even greater risks. Internet company risk: Many Internet-related companies have incurred large losses since their inception and may continue to incur large losses in the hope of capturing market share and generating future revenues. Inverse correlation risk: Short (inverse) positions are designed to profit from a decline in the price of a particular reference asset. Investors will lose money when the China Internet ETF rises, which is the opposite result from that of traditional funds. Leverage risk: Leverage increases the risk of a total loss of an investor’s investment, may increase the volatility of the Fund, and may magnify any differences between the performance of the Fund and the China Internet ETF. Short sale exposure risk: Seeking inverse or “short” exposure may expose the Fund to risks under certain market conditions of an increase in the volatility and decrease in the liquidity of the instruments underlying the short position, which may lower the Fund’s return. Small and medium company risk: Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies. Swap agreement risk: The Fund expects to use swap agreements as a means to achieve its investment objective. The lack of regulation in swap markets could expose investors to significant losses under certain circumstances, including in the event of trading abuses or financial failure by participants.

The Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns. NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the midpoint between the bid and ask price as of the close of exchange. Closing price returns do not represent the returns you would receive if you traded shares at other times.