1.24.2022   We expect a choppy market until the Fed’s path is set, but anticipate positive returns as we move into the second half of 2022, especially in small cap. We also believe the Fed is likely to reverse some tightening expectations as we move into 2023.

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Definitions: QE quantitative easing is form of unconventional monetary policy in which a central bank purchases longer-term securities from the open market in order to increase the money supply and encourage lending and investment. QT quantitative tightening is a contractionary monetary policy applied by a central bank to decrease the amount of liquidity. PE price earnings ratio is the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS). Stagflation is persistent high inflation combined with high unemployment and stagnant demand in a country’s economy.
Autodesk 2.46%, Celcius Holdings 2.58%, Splunk 3.17%, Tesla 12.21%, as percent FFND and did not hold Anheiser Busch, Apple, Amazon, Molson Coors, Monster, Netflix, Peleton, Red Bull as of 1/21/2022.

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Investing involves risk, including loss of principal. There is no guarantee that the Funds will achieve their investment objectives. In general, prices of equity securities are more volatile than those of fixed income securities. The prices of equity securities fluctuate in response to issuer-specific activities as well as factors unrelated to the fundamental condition of the issuer, including general market, economic and political conditions along with other factors. While the shares of ETFs trade on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. The Funds were recently organized with no operating history. In addition, the Advisor has not previously managed an ETF, which may increase the risks of investing in the Funds.

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The Future Fund ETFs are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. The Future Fund LLC is the investment advisor to the Funds, and is not affiliated with Northern Lights Distributors, LLC.