COLUMBUS, Ohio, July 31, 2020 /PRNewswire/ -- Nationwide announced today that the Board of Trustees of ETF Series Solutions (the "Trust") has determined to close and liquidate the Nationwide Maximum Diversification Emerging Markets Core Equity ETF (NYSEARCA: MXDE) (the "Fund") after the close of business on Aug. 28, 2020.
Nationwide recommended the liquidation and closure of the Fund following consideration of the Fund's long-term growth prospects and the anticipated impact of the COVID-19 pandemic to broad-based emerging market equity performance, among other factors.
The Fund's last day of trading will be Aug. 27, 2020, which will coincide with the final day for creation unit orders by authorized participants. The Fund will begin liquidating its portfolio assets on or about Aug. 14, 2020, which may cause the Fund to increase its cash holdings and deviate from the investment objective and strategies referenced in the Fund's prospectus. The Fund will conclude operations and promptly distribute the remaining proceeds to shareholders after Aug. 28, 2020. Shareholders who do not sell their Fund shares by this date will have their shares automatically redeemed for cash based on the 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.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.
Call 800-617-0004 to request a summary prospectus and/or a prospectus, or download prospectuses at etf.nationwide.com. These prospectuses outline investment objectives, risks, fees, charges and expenses, and other information that you should read and consider carefully before investing.
Investing involves risk, including the possible loss of principal.
Nationwide Fund Advisors (NFA) is the registered investment advisor to Nationwide ETFs, which are distributed by Quasar Distributors, LLC. NFA is not affiliated with any distributor, subadviser, or index provider contracted by NFA for the Nationwide ETFs. Representatives of the Nationwide ETF Sales Desk are registered with Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio.