Rafael Zayas, CFA, is Senior Vice President, Head of Portfolio Management and Trading at Vident Investment Advisory, LLC since June 2020. Mr. Zayas became SVP, Head of Portfolio Management and Trading in June 2020. From 2017 to 2020, he was a Senior Portfolio Manager – International Equity at Vident and has over 15 years of experience that includes managing international equity portfolios, including in emerging and frontier markets. Prior to joining Vident, he was a Portfolio Manager – Direct Investments for seven years at Russell Investments, a global asset manager, where he co-managed more than $4 billion in quantitative strategies across global markets, including the Russell Strategic Call Overwriting Fund, a mutual fund. Mr. Zayas also helped Russell Investments launch its sponsored ETF initiative and advised on index methodologies. Prior to joining Russell Investments, Mr. Zayas was a Portfolio Manager – Equity Indexing at Mellon Capital Management, where he managed assets for internationally listed global equity ETFs. Mr. Zayas graduated with a B.S. in Electrical Engineering from Cornell University and obtained a Certificate in Computational Finance and Risk Management from the University of Washington. He also attained the Chartered Financial Analyst designation in 2010.

Austin Wen, CFA has seven years of investment management experience. Mr. Wen is a Portfolio Manager at Vident, specializing in portfolio management and trading of equity portfolios and commodities based portfolios, as well as risk monitoring and investment analysis. Previously, Mr. Wen was an analyst for Vident Financial, working on the development and review of investment solutions. He began his career as a State Examiner for the Georgia Department of Banking and Finance. Mr. Wen obtained a BA in Finance from the University of Georgia and holds the Chartered Financial Analyst designation.

Courtney Rosenberger is a Managing Director with Strategas Asset Management, LLC and Strategas Securities, LLC, based in the Adviser's Washington, D. C. offices. In both capacities Ms. Rosenberger directs Strategas' policy research efforts and connects the specific investment implications from changes in public policy initiatives. This involves the construction, maintenance, and analysis of Strategas' equity portfolios based on public policy themes. Courtney is the Lead Portfolio Analyst of Strategas Asset Management's policy-related investment strategies and serves as a co-portfolio Manager of the Global policy ETE. Courtney was recognized by her peers as a 2016 and 2018 Rising Star in the Washington Research category of Institutional Investors All-American Research Team survey. Strategas' Washington Policy team has been recognized as one of the top Washington policy research teams by Institutional Invesfor in all seven years that Courtney has been a member of the research team and was the Number One-ranked Washington policy team in 2019. Ms. Rosenberger graduated magna cum laude with a BBA in Finance and BS in Economics from the University of Kentucky. She currently serves as Vice Chair on the Gatton College of Business and Economics' Emerging Leaders Board.

Mr. Bohnsack is a co-founder of Strategas and serves as the President and Chief Executive Officer of Strategas Asset Management, LLC, serves as the co-chairman of the Adviser's Investment Policy Committee, and is a co-Portfolio Manager of the Macro Thematic ETV and the Global Policy ETE In addition, Mr. Bohnsack is the President and the Chief Operating Officer of the Adviser's institutional broker-dealer, Strategas Securities. Mr. Bohnsack is responsible for the Adviser's asset-management and institutional-securities businesses with enterprise and strategic responsibility for portfolio management, macro research, sales and trading, and capital markets, and for oversight of the Adviser's Finance, Compliance, Technology, and Operations units. Nicholas co-founded Strategas in 2006. After a decade of the firms building a space in private partnerships, Strategas Securities and Strategas Asset Management were acquired by the Baird Financial Group in 2018. In addition to continuing as the President of Strategas Securities and Strategas Asset Management, each of which now operates independently as a wholly-owned Baird subsidiary company, Nicholas also is a Managing Director of Baird and a member of Baird's Operating Committee and Private Wealth Management Asset Allocation Committee. Prior to co-founding Strategas, Mr. Bohnsack was an Investment Strategist and Associate Managing Director with ISI Group. He began his career in the Investment Banking Group at FactSet and in Restricted Securities at Morgan Stanley. Mr. Bohnsack received his master's in Mathematics from Fairfield University and received bachelor's degrees in Economics and Finance from Bryant University. He is a member of the Investment Committee for the Bryant University Endowment. Nicholas and his wife, Brooke, live in New York City with their three sons.

Dan Clifton is the Lead Portfolio Manager of Strategas Asset Management's policy-related investment strategies, including the Global Policy ETF. In addition, he serves as the Head of Policy Research for Strategas Securities. In both capacities, Mr. Clifton evaluates the financial market implications of policy and political developments. This includes analyzing tax, trade, infrastructure, healthcare, energy, and other policy initiatives to determine how public policy changes impact the economy and financial markets for institutional investors. Prior to joining Strategas, Mr. Clifton was Executive Director of the American Shareholders Association ("ASA"), a non-partisan, non-profit organization which analyzes public policy affecting shareholders. Daniel also worked on tax policy issues prior to his tenure at ASA and has been involved in every major tax policy change over the past twenty years. Prior to moving to Washington, D. C. Mr. Clifton served as a senior staff member in two gubernatorial administrations, where he Avorked on economic and fiscal policy issues. Mr. Clifton received both his BA in Urban Planning and his MS in Public policy from Rutgers University where he was a Fellow at the Eagleton Institute of Politics and a Harold Martin Fellow for Public Policy.

Mr. Hendricks is a Director and Senior Portfolio Analyst at Strategas Asset Management. He leads the analytical support functions for each of the Adviser's investment strategies and serves as an experienced adviser to the various portfolio managers. He serves as a co-Portfolio Manager for both the Global Policy ETF and the Macro Thematic ETE. Mr. Hendricks began his investment career as a technical analyst within the Equity Research department at Lehman Brothers. While at Lehman, he earned an M.B.A. in Finance from Fordham University. He also became a Chartered Market Technician, authoring a paper analyzing the relationship between put-call ratios and the S&P 500 index to complete level III of the program. Following his tenure at Lehman, Mr. Hendricks joined Columbus Circle Investors as a Senior Analyst responsible for Portfolio and Technical Analytics. While at Columbus Circle, Mr. Hendricks expanded his expertise, and honed his skills as a macro strategist, providing top-down insight to adjust the portfolios as applicable. While at Columbus Circle, Mr. Hendricks earned his Chartered Financial Analyst designation. After ten and half years at Columbus Circle, Mr. Hendricks joined Merrill Lynch Wealth Management, where he provided advice for high-net-worth individuals and businesses. Mr. Hendricks joined Strategas Asset Management in 2021.