Breaking News
Nationwide Announces Fund Closures
Nationwide announced today that the Board of Trustees of ETF Series Solutions has determined to close and liquidate the Nationwide Risk-Based U.S. Equity ETF, Nationwide Risk-Based International Equity ETF, and Nationwide Maximum Diversification U.S. Core Equity ETF (collectively, the “Funds”) after the close of business on May 26, 2022.
Nationwide recommended the liquidation and closure of the Funds following consideration of the Funds’ long-term performance and future growth prospects, among other factors.
The Funds’ last day of trading will be May 25, 2022, which will coincide with the final day for creation unit orders by authorized participants. The Funds will begin liquidating their portfolio assets on or about May 17, 2022, which may cause the Funds to increase their cash holdings and deviate from the investment objectives and strategies referenced in the Funds’ prospectus. The Funds will conclude operations and promptly distribute the remaining proceeds to shareholders after May 26, 2022.
Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the applicable Fund’s net asset value (NAV). Customary brokerage charges may apply to transactions to sell Fund shares. Shareholders should contact their tax advisor to discuss the income tax consequences of the liquidation.
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