The investment seeks capital appreciation with a measure of downside protection. The ARK DIET Q3 Buffer ETF is an actively-managed exchange-traded fund ('ETF') that, for rolling 12-month periods from July 1 to June 30 (each, an 'Outcome Period') seeks to provide investors with a defined risk-return profile, before fees and expenses. Specifically, the fund is structured to provide, before fees and expenses, 50% downside participation in the share price of the ARK Innovation ETF (the 'Underlying ETF'), measured from its value at the beginning of each Outcome Period (the 'downside participation offset'). It is non-diversified.