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Fund Details

Fund Inception	3/12/2014
Ticker	GVAL
Net Assets	TBD
Shares Outstanding	TBD
Primary Exchange	CBOE BZX
CUSIP	132061409
Fund Type	Actively Managed ETF
Investment Objective	Capital Appreciation
Management Fee	0.59%
Distribution and/or Service (12b-1) fees	0.00%
Acquired Fund Fee & Expenses	0.04%
Custodial Expenses	0.07%
Total Expense Ratio (or Total Fund Operating Expenses)	0.70%
Net Asset Value (NAV)	GVAL.NV
Portfolio Managers:	Mebane T. Faber
Number of Holdings	129
Dividend Frequency	Quarterly

Data as of

GVAL Cambria Global Value ETF

The Cambria Global Value ETF identifies the cheapest stock markets in the world using a composite of cyclically adjusted price ratios. The ETF begins with a universe of 45 countries, located in developed and emerging markets. GVAL then selects the top 25% cheapest country stock markets as measured by Cambria’s proprietary long-term valuation metrics based on relative and absolute valuation. Cambria then uses a valuation composite across traditional metrics such as trailing P/E, P/B, P/S, P/FCF, and EV/EBITDA to select the 10 most undervalued stocks out of the top 30 largest stocks by market capitalization within each country.

Fund Prices

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Net Asset Value
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Volume	TBD

Price
Closing Price
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30-Day Median Bid/Ask Spread

Data as of

The exchange-traded fund's median bid-ask spread is rounded to the nearest hundredth and computed by (1) identifying the exchange-traded fund's national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days, (2) dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer, and (3) identifying the median of those values.

Performance

Month end returns as of:

CUMULATIVE
	1 Mo.	3 Mo.	6 Mo.	Since Inception
Fund NAV	-22.75%	-34.33%	-29.36%	-26.00%
Closing Price	-24.19%	-35.34%	-30.14%	-26.97%

AVG. ANNUALIZED
	1 Yr.	3 Yr.	5 Yr.	10 Yr.	Since Inception
Fund NAV	-28.36%	-7.78%	-2.04%		-4.85%
Closing Price	-29.68%	-8.31%	-2.30%;		-5.06%

Quarter end returns as of :

AVG. ANNUALIZED
	1 Yr.	3 Yr.	5 Yr.	10 Yr.	Since Inception
Fund NAV	-28.36%	-7.78%	-2.04%		-4.85%
Closing Price	-29.68%	-8.31%	-2.30%		-5.06%

The performance data quoted represents past performance. Past performance 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 and current performance may be lower or higher than the performance quoted.

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period. Cambria Funds' NAVs are calculated using prices as of 4:00 PM Eastern Time.

The closing market price is the Mid-Point between the Bid and Ask price as of the close of exchange. Since the Fund's Shares typically do not trade in the secondary market until several days after the Fund's inception, for the period from inception to the first day of secondary market trading in Shares, the NAV of the Fund is used to calculate market returns.

TOP 10 HOLDINGS

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PERCENTAGE OF NET ASSETS	NAME	IDENTIFIER	SHARES HELD	MARKET VALUE

Data as of

Holdings are subject to change

Investor Materials

Summary Prospectus	Statutory Prospectus	Statement of Additional Information	Semi-Annual Report	Annual Report
Download	Download	Download	Download	Download

Section 19a-1 Notice - 6/27/16

Section 19a-1 Notice - 9/26/16

Section 19a-1 Notice - 12/27/16

All XBRL Filings
Registration Statement XBRL
Prospectus Supplement XBRL

The Cambria ETFs are distributed by ALPS Distributors Inc., 1290 Broadway Suite 1000 Denver CO 80203, which is not affiliated with Cambria Investment Management, LP, the Investment Adviser for the Fund. Check the background of ALPS on FINRA's BrokerCheck.

To determine if this Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expense before investing. This and other information can be found in the Fund's full or summary prospectus which may be obtained by calling 855-383-4636 (ETF INFO) or visiting our website at www.cambriafunds.com. Read the prospectus carefully before investing or sending money.

BLDG, EYLD, FAIL, FYLD, GAA, GMOM, GVAL, SYLD, TAIL, TOKE, TRTY, and VAMO are actively managed using proprietary investment strategies and processes. There can be no guarantee that these strategies and processes will produce the intended results and no guarantee that the Fund will achieve its investment objective. This could result in the Fund's underperformance compared to other funds with similar investment objectives.

ETFs are subject to commission costs each time a "buy" or "sell" is executed. Depending on the amount of trading activity, the low costs of ETFs may be outweighed by commissions and related trading costs. Shares are bought and sold at market price (closing price) not net asset value (NAV) are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.

There is no guarantee that the Fund will achieve its investment goal. Investing involves risk, including the possible loss of principal. In addition to the normal risks associated with investing, international investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from social, economic, or political instability in other nations. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume. Bonds and bond funds are subject to interest rate risk and will decline in value as interest rates rise.

Investments in sovereign and quasi-sovereign debt obligations involve special risks not present in corporate debt obligations. The issuer of the sovereign debt or the authorities that control the repayment of the debt may be unable or unwilling to repay principal or interest when due, and the Fund may have limited recourse in the event of a default. Investments in commodities are subject to higher volatility than more traditional investments. The fund may invest in derivatives, which are often more volatile than other investments and may magnify the Fund's gains or losses. The use of leverage by the fund managers may accelerate the velocity of potential losses. The Fund employs a "momentum" style of investing that emphasizes investing in securities that have had higher recent price performance compared to other securities. This style of investing is subject to the risk that these securities may be more volatile than a broad cross-section of securities or that the returns on securities that have previously exhibited price momentum are less than returns on other styles of investing or the overall stock market. Investments in smaller companies typically exhibit higher volatility. Diversification may not protect against market loss. Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Buying and selling shares will result in brokerage commissions. Brokerage commissions will reduce returns.

There are special risks associated with margin investing. As with stocks, you may be called upon to deposit additional cash or securities if your account equity declines.

Prior to 3/15/2021, Cambria Global Tail Risk ETF (FAIL) operated as Cambria Sovereign Bond ETF (SOVB). On that date, the investment strategy and the objective also changed. Any performance prior to 3/15/2021 was achieved under the previous investment strategy.