Investment Objective
Polen Capital Emerging Markets ex-China Growth ETF (PCEM) seeks to achieve long-term growth of capital. The advisor seeks to achieve long-term growth of capital by building a concentrated portfolio of competitively advantaged emerging markets businesses domiciled outside of China with sustainable, above-average earnings growth.
- Global emerging markets growth strategy with a strong emphasis on sustainable earnings growth
- Focus on companies with high returns on capital and deep competitive moats
- Concentrated portfolio of approximately 25-40 growth companies
- Low portfolio turnover with long-term holding periods
PCEM
53700T710
US53700T7101
09/10/2024
Emerging Markets
Active ETF
1.00%
State Street Bank
ALPS Distributors
NYSE Arca
iM Global Partner Fund Management
Polen Capital
Polen Capital Emerging Markets ex-China Growth ETF Value of Hypothetical $10,000
The value of a hypothetical $10,000 investment in the Polen Capital Emerging Markets ex-China Growth ETF compared with the
Polen Capital Emerging Markets ex-China Growth ETF (Price), Morningstar Diversified Emerging Markets Category, MSCI EM ex China Index.
- Growth of Investment
- Annualized
- Calendar Year
* The hypothetical $10,000 investment at fund inception includes changes due to share price and reinvestment of dividends and capital gains. The chart does not imply future performance. Indexes are unmanaged, do not incur fees, expenses or taxes, and cannot be invested in directly.
Performance quoted does not include a deduction for taxes that a shareholder would pay on the redemption of fund shares.
Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Short term performance is not a good indication of the fund’s future performance and should not be the sole basis for investing in the fund. Indexes are unmanaged, do not incur fees, and cannot be invested in directly. Returns less than one year are not annualized. To obtain the performance of the funds as of the most recently completed calendar month, please visit www.imgp.com/us/
| Date | Security Name | CUSIP | Ticker | Shares Qty | Market Value | Weight |
| 11/28/2025 | KRW999999 | 53700T710 | - | 102,414,311 | $ -69,873.99 | -0.01 |
| 11/28/2025 | NEW TAIWAN DOLLAR | 53700T710 | - | 2 | $ 0.06 | 0 |
| 11/28/2025 | SOUTH KOREAN WON | 53700T710 | - | 123 | $ 0.08 | 0 |
| 11/28/2025 | EURO CURRENCY | 53700T710 | - | 10 | $ 11.20 | 0 |
| 11/28/2025 | INDIAN RUPEE | 53700T710 | - | 16,674 | $ 186.78 | 0.01 |
| 11/28/2025 | NET OTHER ASSETS | 53700T710 | - | 0 | $ 7,182.59 | 0.27 |
| 11/28/2025 | US DOLLAR | 53700T710 | - | 15,237 | $ 15,236.84 | 0.57 |
| 11/28/2025 | BANK CENTRAL ASIA TBK PT COMMON STOCK IDR12.5 | 53700T710 | BBCA | 56,254 | $ 28,447.78 | 1.06 |
| 11/28/2025 | WIZZ AIR HOLDINGS PLC COMMON STOCK GBP.0001 | 53700T710 | WIZZ | 1,880 | $ 29,761.00 | 1.1 |
| 11/28/2025 | SANIL ELECTRIC CO LTD COMMON STOCK KRW500.0 | 53700T710 | A062040 | 409 | $ 38,787.61 | 1.44 |
| 11/28/2025 | PARK SYSTEMS CORP COMMON STOCK KRW500.0 | 53700T710 | A140860 | 249 | $ 39,073.48 | 1.45 |
| 11/28/2025 | FPT CORP COMMON STOCK VND10000.0 | 53700T710 | FPT | 13,260 | $ 49,768.36 | 1.85 |
| 11/28/2025 | INDIAN HOTELS CO LTD COMMON STOCK INR1.0 | 53700T710 | IH | 6,143 | $ 50,372.34 | 1.87 |
| 11/28/2025 | SAREGAMA INDIA LTD COMMON STOCK INR1.0 | 53700T710 | SARE | 11,893 | $ 50,626.23 | 1.88 |
| 11/28/2025 | PHU NHUAN JEWELRY JSC COMMON STOCK VND10000.0 | 53700T710 | PNJ | 15,600 | $ 51,572.20 | 1.91 |
| 11/28/2025 | NAGACORP LTD COMMON STOCK USD.0125 | 53700T710 | 3918 | 81,024 | $ 52,090.06 | 1.93 |
| 11/28/2025 | ASPEED TECHNOLOGY INC COMMON STOCK TWD10.0 | 53700T710 | 5274 | 250 | $ 52,820.55 | 1.96 |
| 11/28/2025 | DISCOVERY LTD COMMON STOCK ZAR.001 | 53700T710 | DSY | 4,348 | $ 56,311.02 | 2.09 |
| 11/28/2025 | BAJAJ AUTO LTD COMMON STOCK INR10.0 | 53700T710 | BJAUT | 551 | $ 56,517.33 | 2.1 |
| 11/28/2025 | GENTING SINGAPORE LTD COMMON STOCK | 53700T710 | G13 | 101,600 | $ 59,131.24 | 2.19 |
| 11/28/2025 | KRW999999 | 53700T710 | - | -86,991,978 | $ 59,351.83 | -0 |
| 11/28/2025 | RIYADH CABLES GROUP CO COMMON STOCK SAR10.0 | 53700T710 | 4142 | 1,900 | $ 62,257.71 | 2.31 |
| 11/28/2025 | DINO POLSKA SA COMMON STOCK PLN.01 | 53700T710 | DNP | 5,680 | $ 65,048.98 | 2.41 |
| 11/28/2025 | NASPERS LTD N SHS COMMON STOCK ZAR.02 | 53700T710 | NPN | 1,050 | $ 69,752.30 | 2.59 |
| 11/28/2025 | SK SQUARE CO LTD COMMON STOCK KRW500.0 | 53700T710 | A402340 | 348 | $ 69,873.99 | 2.59 |
| 11/28/2025 | SALIK CO PJSC COMMON STOCK AED.01 | 53700T710 | SALIK | 44,320 | $ 70,108.83 | 2.6 |
| 11/28/2025 | HUGEL INC COMMON STOCK KRW500.0 | 53700T710 | A145020 | 470 | $ 70,386.16 | 2.61 |
| 11/28/2025 | INPOST SA COMMON STOCK EUR.01 | 53700T710 | INPST | 6,374 | $ 72,175.52 | 2.68 |
| 11/28/2025 | ICICI LOMBARD GENERAL INSURA COMMON STOCK INR10.0 | 53700T710 | ICICIGI | 3,239 | $ 73,147.93 | 2.71 |
| 11/28/2025 | NU HOLDINGS LTD/CAYMAN ISL A COMMON STOCK USD.000006667 | 53700T710 | NU | 4,263 | $ 73,536.75 | 2.73 |
| 11/28/2025 | TOTVS SA COMMON STOCK | 53700T710 | TOTS3 | 9,700 | $ 77,856.01 | 2.89 |
| 11/28/2025 | HDFC BANK LIMITED COMMON STOCK INR1.0 | 53700T710 | HDFCB | 7,208 | $ 81,148.67 | 3.01 |
| 11/28/2025 | MEDIATEK INC COMMON STOCK TWD10.0 | 53700T710 | 2454 | 2,000 | $ 82,980.93 | 3.08 |
| 11/28/2025 | NEXON CO LTD COMMON STOCK | 53700T710 | 3659 | 3,530 | $ 83,292.52 | 3.09 |
| 11/28/2025 | MOBILE WORLD INVESTMENT CORP COMMON STOCK VND10000.0 | 53700T710 | MWG | 27,900 | $ 84,830.72 | 3.15 |
| 11/28/2025 | WEG SA COMMON STOCK | 53700T710 | WEGE3 | 10,260 | $ 85,150.80 | 3.16 |
| 11/28/2025 | KAROOOOO LTD COMMON STOCK | 53700T710 | KARO | 1,940 | $ 87,513.40 | 3.25 |
| 11/28/2025 | DLOCAL LTD COMMON STOCK USD.002 | 53700T710 | DLO | 7,084 | $ 92,446.20 | 3.43 |
| 11/28/2025 | MERCADOLIBRE INC COMMON STOCK USD.001 | 53700T710 | MELI | 48 | $ 97,599.36 | 3.62 |
| 11/28/2025 | ACCTON TECHNOLOGY CORP COMMON STOCK TWD10.0 | 53700T710 | 2345 | 3,452 | $ 110,062.97 | 4.08 |
| 11/28/2025 | RAIA DROGASIL SA COMMON STOCK | 53700T710 | RADL3 | 26,000 | $ 114,597.61 | 4.25 |
| 11/28/2025 | SAMSUNG ELECTRONICS CO LTD COMMON STOCK KRW100.0 | 53700T710 | A005930 | 1,920 | $ 134,663.30 | 5 |
| 11/28/2025 | TAIWAN SEMICONDUCTOR MANUFAC COMMON STOCK TWD10.0 | 53700T710 | 2330 | 6,500 | $ 298,731.35 | 11.09 |
| 11/28/2025 | TOTAL NET ASSETS | 53700T710 | - | - | $ 2,694,741.98 | - |
* Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.
Net Assets of the Fund (11/26/2025) $2,694,742
Shares Outstanding (11/26/2025) 250,000
Last Market Price (11/26/2025) $10.81
Change in Last Market Price (11/26/2025) $0.17
Premium/Discount (11/26/2025) 0.03
30-Day Median Bid-Ask Spread (11/26/2025) -
Disclosure:
The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, and it may be obtained by calling 800-960-0188 or visiting www.imgpfunds.com. Read it carefully before investing. Polen Capital Emerging Markets ex-China Growth ETF Risks: Investing involves risk. Principal loss is possible. The Fund invests in emerging market and foreign securities. Investment in foreign (non‑U.S.) securities and emerging market securities may cause the Fund to experience more rapid and extreme changes in value due to economic, political and social instability of such countries. The value of equity securities may fluctuate, sometimes rapidly and unpredictably, due to factors affecting the general market, an entire industry or sector, or particular companies. Because the Fund is “non‑diversified,” it may invest a greater percentage of its assets in the securities of a single issuer. Because the Fund may take into consideration the environmental, social and governance characteristics of portfolio companies in which it may invest, the Fund may select or exclude securities of certain issuers for reasons other than potential performance. The Fund is newly formed and has no operating history. A commission may apply when buying or selling an ETF. Index Definitions | Industry Terms and Definitions The Polen Capital Emerging Markets ex-China Growth ETF is distributed by ALPS Distributors, Inc.





