Market Overview

BVAL Fund Closure


Exponential ETFs and Brandometry announced today that the Board of Trustees of ETF Series Solutions (the "Trust") has determined to close and liquidate the Brand Value ETF (NYSE:BVAL) (the "Fund") effective immediately after the close of business on July 31, 2020. Exponential ETFs recommended the liquidation and closure of the Fund after consideration of the Fund's prospects for growth, among other factors.

Brandometry, the Fund's sponsor, determined that fund closure was in the best interest of shareholders given the difficulties of both operating as an independent fund as well as the market conditions resulting from the COVID-19 event. "We want to thank all those who were interested in how brand strength drives market value and we would especially like to express our gratitude to our partners: Tenet, EQM, Exponential ETFs, Thomson Reuters, ARRO Communications, and the NYSE for their support and guidance, it has been a fantastic journey," said Larry Medin, CEO of Brandometry.

The Fund's last day of trading will be July 30, 2020, which will also be the final day for creation unit orders by authorized participants. The Fund will begin liquidating its portfolio assets on or about July 17, 2020, which will cause the Fund to increase its cash holdings and deviate from the investment objective and strategies stated in the Fund's prospectus. The Fund will conclude operations and distribute the remaining proceeds to shareholders promptly after July 31, 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.

For additional information, please call 1-800-617-0004.

About Brandometry

Brandometry provides research for advisors and clients striving for excess returns by signaling when to own leading brands. Brandometry has pioneered a new, non-traditional index based on "Brand." The EQM Brand Value Index (Index Ticker: .BVAL), combines qualitative brand signals with financial data to show the full picture of a company's investment potential.

About Exponential ETFs

Exponential ETFs combines technology and automation with industry leading expertise in portfolio management, operations and capital markets to provide ETF trading and operational solutions to select asset managers.

The Fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contain this and other important information about the investment company. The prospectus can be obtained by calling 1-800-617-0004. Please read it carefully before investing.

Investing involves risk including possible loss of principal.

Transactions in shares of ETFs will result in brokerage commissions and will generate tax consequences. All regulated investment companies are obligated to distribute portfolio gains to shareholders. There can be no assurance that an active trading market for shares of an ETF will develop or be maintained. The Brand Value ETF is distributed by Foreside Fund Services, LLC.

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