GWTR0231

Global Water Portfolio

The information shown relates to a trust that is no longer offered for sale. This information does not constitute an offer to sell, or a solicitation of an offer to buy units of the trust.

Objective

The Portfolio seeks capital appreciation. The Portfolio seeks to achieve its objective by investing in a portfolio of 25 stocks derived from the S-Network Water IndexSM (the "Water Index "). The Water Index is a diversified composite index of 60 stocks active in the global water sector, comprised of (1) 30 water utilities included in the S-Network Water WorksSM sub-index ("Water Works") and (2) 30 companies that provide water technology and water infrastructure products and services included in the S-Network Water TechSM sub-index ("Water Tech"). The Portfolio will consist of 15 Water Tech stocks and 10 Water Works stocks.

as of 12/12/2024

Country Breakdown

Country Percentage (%)
N 38.04
Y 61.96
as of 12/12/2024

Sector Breakdown

  Trust Weighting (%) S&P Global Water Index
Weighting (%)
Consumer Discretionary 0.00 0.53
Energy 0.00 0.99
Industrial 55.23 46.09
Information Technology 6.23 2.79
Materials 4.94 6.42
Real Estate 0.00 0.17
Utilities 33.60 43.02
as of 12/12/2024

Market Cap / Style Breakdown

  Trust Weighting (%)
Large-Cap Value 0.00
Large-Cap Core 3.15
Large-Cap Growth 8.63
Mid-Cap Value 9.96
Mid-Cap Core 16.97
Mid-Cap Growth 24.08
Small-Cap Value 0.00
Small-Cap Core 21.30
Small-Cap Growth 15.91
Other 0.00
The style characteristics of the Portfolio are determined as of the initial date of deposit. For a complete description of these characteristics, see below.
as of 11/29/2024

Key Stats

Weighted Harmonic Avg P/E  25.26
Weighted Harmonic Avg P/B  3.21
Weighted Avg Market Cap (MM)  $13,860.99

The weighted average and the weighted harmonic averages shown are attributable to the underlying portfolio holdings, and does not represent a statistics of the trust itself.

1 The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust have elected or may elect to reduce the amount of, or cancel entirely, dividends and/or distributions paid in the future. As a result, the Historical 12 Month Distributions figure will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2 As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. COVID-19 and its effects have contributed to increased volatility in global markets, severe losses, liquidity constraints, and lowered yields. The duration of such effects cannot yet be determined but could be present for an extended period of time and may adversely affect the value of your Units. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as a part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

As with all investments, you can lose money by investing in this Portfolio. The Portfolio also might not perform as well as you expect. This can happen for reasons such as these:

  • Security prices will fluctuate. The value of your investment may fall over time.

  • An issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may result in a reduction in the value of your Units.

  • The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

  • You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolios profits and losses.

  • Stocks of foreign companies in the Portfolio present risks beyond those of U.S. issuers. These risks may include market and political factors related to the companys foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and changes in the value of foreign currencies.

  • The Portfolio is concentrated in securities issued by companies in the water utilities and infrastructure industry, which results in concentration in issuers in both the industrials and utilities sectors. As further discussed in Risk Factors  Industry Risks, companies engaged in the water utility and infrastructure industry are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes and other regulatory policies of various governments. Further, industrial issuers are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends. Utility companies face risks such as increased competition, increases in fuel and other operating costs, governmental regulations, and natural disasters. Negative developments in the water utility and infrastructure industry, industrials sector or utilities sector will affect the value of your investment more than would be the case in a more diversified investment.

  • The Portfolio invests in stocks of smaller capitalization companies. These stocks are often more volatile and have lower trading volumes than stocks of larger companies. Smaller capitalization companies may have limited products or financial resources, management inexperience and less publicly available information.

  • The Portfolio does not replicate all of the components of the Water Index or its component weightings and the stocks in the Portfolio will not change if the index components, or their weightings within the index, change. The performance of the Portfolio will not correspond with the Water Index for this reason and because the Portfolio incurs a sales charge and expenses. The Portfolio is not intended to replicate the performance of the index.

  • We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines.

Value, core and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or core investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A core investment combines the two styles.

The S-Network Water IndexSM is a modified capitalization weighted, float adjusted equity index designed to serve as an equity benchmark for globally traded stocks that are principally engaged in the water utilities and water technology industries. It is not possible to invest directly in an index.

"S-Network Global Indexes, LLCSM, S-Network Water IndexSM, S-Network Water Tech IndexSM" and "S-Network Water Works IndexSM" are service marks of S-Network Global Indexes, LLC and have been licensed for use by the Portfolio. The Portfolio is not sponsored, endorsed, sold or promoted by S-Network Global Indexes, LLC and S-Network Global Indexes, LLC makes no representation regarding the advisability of investing in the Portfolio."

1 The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust have elected or may elect to reduce the amount of, or cancel entirely, dividends and/or distributions paid in the future. As a result, the Historical 12 Month Distributions figure will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2 As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. COVID-19 and its effects have contributed to increased volatility in global markets, severe losses, liquidity constraints, and lowered yields. The duration of such effects cannot yet be determined but could be present for an extended period of time and may adversely affect the value of your Units. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as a part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

As with all investments, you can lose money by investing in this Portfolio. The Portfolio also might not perform as well as you expect. This can happen for reasons such as these:

  • Security prices will fluctuate. The value of your investment may fall over time.

  • An issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may result in a reduction in the value of your Units.

  • The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

  • You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolios profits and losses.

  • Stocks of foreign companies in the Portfolio present risks beyond those of U.S. issuers. These risks may include market and political factors related to the companys foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and changes in the value of foreign currencies.

  • The Portfolio is concentrated in securities issued by companies in the water utilities and infrastructure industry, which results in concentration in issuers in both the industrials and utilities sectors. As further discussed in Risk Factors  Industry Risks, companies engaged in the water utility and infrastructure industry are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes and other regulatory policies of various governments. Further, industrial issuers are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends. Utility companies face risks such as increased competition, increases in fuel and other operating costs, governmental regulations, and natural disasters. Negative developments in the water utility and infrastructure industry, industrials sector or utilities sector will affect the value of your investment more than would be the case in a more diversified investment.

  • The Portfolio invests in stocks of smaller capitalization companies. These stocks are often more volatile and have lower trading volumes than stocks of larger companies. Smaller capitalization companies may have limited products or financial resources, management inexperience and less publicly available information.

  • The Portfolio does not replicate all of the components of the Water Index or its component weightings and the stocks in the Portfolio will not change if the index components, or their weightings within the index, change. The performance of the Portfolio will not correspond with the Water Index for this reason and because the Portfolio incurs a sales charge and expenses. The Portfolio is not intended to replicate the performance of the index.

  • We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines.

Value, core and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or core investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A core investment combines the two styles.

The S-Network Water IndexSM is a modified capitalization weighted, float adjusted equity index designed to serve as an equity benchmark for globally traded stocks that are principally engaged in the water utilities and water technology industries. It is not possible to invest directly in an index.

"S-Network Global Indexes, LLCSM, S-Network Water IndexSM, S-Network Water Tech IndexSM" and "S-Network Water Works IndexSM" are service marks of S-Network Global Indexes, LLC and have been licensed for use by the Portfolio. The Portfolio is not sponsored, endorsed, sold or promoted by S-Network Global Indexes, LLC and S-Network Global Indexes, LLC makes no representation regarding the advisability of investing in the Portfolio."

Historical Pricing

From   to

No price history records found for this date range

Distributions

From   to

LIQUIDATION PRICE
Represents the value per unit that a unitholder would receive if the unitholder redeemed or sold units. This price is equal to the net asset value per unit plus any remaining organization costs and creation and development fee. This price reflects any remaining deferred sales charges payable in connection with a liquidation of units.

OFFER PRICE
Represents the net asset value per unit plus any applicable organization costs and sales charges. This is the regular public offering price per unit paid to purchase units. This price is often subject to certain sales charge discounts described in a trust prospectus.

NET ASSET VALUE (NAV)
Represents the value per unit of a trust's portfolio securities and other assets reduced by trust expenses and other liabilities, including remaining organization costs, deferred sales charges and creation and the development fee.


This page contains historical pricing or historical income distributions information for the unit trust listed above. It should not be used for federal or state tax purposes. Please contact your financial advisor for tax information.

This information does not constitute an offer to sell, or a solicitation of an offer to buy securities in any state, or other jurisdiction to any person to whom it is not lawful to make such an offer. A trust that contains a state name in the trust name is generally available for sale only to investors in that state. The information shown may relate to a trust that is no longer offered to the public. In such a case, this information does not constitute an offer to sell, or a solicitation of an offer to buy units of the trust.

1 The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust have elected or may elect to reduce the amount of, or cancel entirely, dividends and/or distributions paid in the future. As a result, the Historical 12 Month Distributions figure will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2 As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. COVID-19 and its effects have contributed to increased volatility in global markets, severe losses, liquidity constraints, and lowered yields. The duration of such effects cannot yet be determined but could be present for an extended period of time and may adversely affect the value of your Units. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as a part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

As with all investments, you can lose money by investing in this Portfolio. The Portfolio also might not perform as well as you expect. This can happen for reasons such as these:

  • Security prices will fluctuate. The value of your investment may fall over time.

  • An issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may result in a reduction in the value of your Units.

  • The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

  • You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolios profits and losses.

  • Stocks of foreign companies in the Portfolio present risks beyond those of U.S. issuers. These risks may include market and political factors related to the companys foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and changes in the value of foreign currencies.

  • The Portfolio is concentrated in securities issued by companies in the water utilities and infrastructure industry, which results in concentration in issuers in both the industrials and utilities sectors. As further discussed in Risk Factors  Industry Risks, companies engaged in the water utility and infrastructure industry are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes and other regulatory policies of various governments. Further, industrial issuers are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends. Utility companies face risks such as increased competition, increases in fuel and other operating costs, governmental regulations, and natural disasters. Negative developments in the water utility and infrastructure industry, industrials sector or utilities sector will affect the value of your investment more than would be the case in a more diversified investment.

  • The Portfolio invests in stocks of smaller capitalization companies. These stocks are often more volatile and have lower trading volumes than stocks of larger companies. Smaller capitalization companies may have limited products or financial resources, management inexperience and less publicly available information.

  • The Portfolio does not replicate all of the components of the Water Index or its component weightings and the stocks in the Portfolio will not change if the index components, or their weightings within the index, change. The performance of the Portfolio will not correspond with the Water Index for this reason and because the Portfolio incurs a sales charge and expenses. The Portfolio is not intended to replicate the performance of the index.

  • We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines.

Value, core and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or core investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A core investment combines the two styles.

The S-Network Water IndexSM is a modified capitalization weighted, float adjusted equity index designed to serve as an equity benchmark for globally traded stocks that are principally engaged in the water utilities and water technology industries. It is not possible to invest directly in an index.

"S-Network Global Indexes, LLCSM, S-Network Water IndexSM, S-Network Water Tech IndexSM" and "S-Network Water Works IndexSM" are service marks of S-Network Global Indexes, LLC and have been licensed for use by the Portfolio. The Portfolio is not sponsored, endorsed, sold or promoted by S-Network Global Indexes, LLC and S-Network Global Indexes, LLC makes no representation regarding the advisability of investing in the Portfolio."

as of 12/12/2024

Cumulative Return (%)

Maximum Sales Charge: 0.00%
YTD (%) Since Deposit (%) 3 Mo (%) 6 Mo (%)
as of 12/12/2024

Average Annual Return (%)

1 Yr (%) 5 Yr (%) 10 Yr (%) Since Deposit (%)

The performance data quoted for the individual series of a trust that has not terminated or has an open termination date is from the deposit date through the current date quoted. For individual series that have terminated, performance data quoted is from the deposit date through the termination date.

Performance data quoted represents past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate and units, when redeemed, may be worth more or less than their original cost.

Returns are cumulative total returns (not annualized) unless labeled as average annual total returns. All returns reflect trust expenses as incurred and assume reinvestment of income and principal distributions, except for trusts that do not offer the option of reinvesting distributions into additional trust units. Please see the related trust prospectus for additional information. Returns do not reflect taxes.

A trust's performance, especially for short time periods, should not be the sole factor in making your investment decision. Please keep in mind that high, double-digit returns are highly unusual and cannot be sustained. Investors should also be aware that these returns were primarily achieved during favorable market conditions.

Returns With Sales Charge reflect the maximum sales charge that would be payable by an investor upon sale or redemption of units at the end of the applicable period(s). The sales charge includes any initial or deferred sales charges other than creation and development fee. These returns do not reflect any creation and development fee prior to collection (generally the close of the initial offering period). Any creation and development fee is reflected in the returns as of the time of payment. by a trust. These returns reflect any contingent deferred sales charges only if the charges would be payable upon a unit sale or redemption at or prior to the end of the applicable performance period(s). Certain trusts are no longer offered for sale to the public and, as a result, do not publish an offer price or have a sales charge. In these cases, returns will not reflect a sales charge if a trust was not actually offered for sale to the public on the first day of the applicable period because units of the trust could not have been purchased by an investor at that time. These returns will show 'N/A' for With Sales Charge data

Returns Without Sales Charge do not reflect any sales charge and do not reflect any creation and development fee prior to collection (generally the close of the initial offering period). Any creation and development fee is reflected in the returns as of the time of payment by a trust.

There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. Accordingly, you can lose money investing in this trust. Certain trusts are unmanaged and their portfolios are not intended to change during the trusts' lives except in limited circumstances. Certain trusts are passively managed and seek to track their target index during the trust's life. For a more complete discussion of the risks of investing in this trust, click on the Fact Card.

Performance Calculator

From   to
  Total Return (%)
With Sales Charge
Without Sales Charge
S&P Global Water Index

1 The Historical 12 Month Distributions figure is for illustrative purposes only and is not indicative of the trust's actual distributions. For a trust deposited after April 1, 2019, and effective July 31, 2019 for all other trusts, this per unit amount is based upon the weighted average of the actual distributions paid by the securities included in the trust over the 12 months preceding the trust's deposit date, and is reduced to account for the effects of fees and expenses which will be incurred when investing in the trust. The Historical 12 Month Distributions figure is as of the date listed in the prospectus during the trust's initial offering period, and is updated each calendar quarter following the close of the trust's initial offering period. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust have elected or may elect to reduce the amount of, or cancel entirely, dividends and/or distributions paid in the future. As a result, the Historical 12 Month Distributions figure will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust. There is no guarantee the issuers of the securities included in the trust will declare dividends or distributions in the future. The distributions paid by the trust may be higher or lower than the Historical 12 Month Distributions amount shown due to certain factors that may include, but are not limited to, a change in the dividends or distributions paid by issuers, actual expenses incurred, currency fluctuations, the sale of trust securities to pay any deferred sales charges, trust fees and expenses, variations in the trust's per unit price, or with the call, maturity or the sale of securities in the trust.

2 As of the close of business day prior to Initial Date of Deposit. The actual distributions you may receive will vary from any historical or estimated amount due to changes in the trust's fees and expenses, in actual income received by the trust, currency fluctuations and with changes in the trust such as acquisition or liquidation of securities. Distributions made by certain securities in the trust may include non-ordinary income.

  The trust will make distributions of income and capital on each specified Distribution Date to unitholders of record on the preceding Record Date, provided that the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus. Undistributed income and capital will be distributed on the next Distribution Date in which the total cash held for distribution meets or exceeds any applicable minimum that may be specified in the prospectus.

  The trust may make distributions that represent a return of capital for tax purposes to the extent of the Unitholder's basis in the Units, and any additional amounts in excess of basis would be taxed as a capital gain. Generally, you will treat all capital gains dividends as long-term capital gains regardless of how long you have owned your Units. Unitholders should consult with their individual tax advisors.


About risk

There is no assurance the trust will achieve its investment objective. An investment in this unit investment trust is subject to market risk, which is the possibility that the market values of securities owned by the trust will decline and that the value of trust units may therefore be less than what you paid for them. COVID-19 and its effects have contributed to increased volatility in global markets, severe losses, liquidity constraints, and lowered yields. The duration of such effects cannot yet be determined but could be present for an extended period of time and may adversely affect the value of your Units. This trust is unmanaged and its portfolio is not intended to change during the trust's life except in limited circumstances. Accordingly, you can lose money investing in this trust. The trust should be considered as a part of a long-term investment strategy and you should consider your ability to pursue it by investing in successive trusts, if available. You will realize tax consequences associated with investing from one series to the next.

As with all investments, you can lose money by investing in this Portfolio. The Portfolio also might not perform as well as you expect. This can happen for reasons such as these:

  • Security prices will fluctuate. The value of your investment may fall over time.

  • An issuer may be unwilling or unable to declare dividends in the future, or may reduce the level of dividends declared. This may result in a reduction in the value of your Units.

  • The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your Units. This may occur at any point in time, including during the initial offering period.

  • You could experience dilution of your investment if the size of the Portfolio is increased as Units are sold. There is no assurance that your investment will maintain its proportionate share in the Portfolios profits and losses.

  • Stocks of foreign companies in the Portfolio present risks beyond those of U.S. issuers. These risks may include market and political factors related to the companys foreign market, international trade conditions, less regulation, smaller or less liquid markets, increased volatility, differing accounting practices and changes in the value of foreign currencies.

  • The Portfolio is concentrated in securities issued by companies in the water utilities and infrastructure industry, which results in concentration in issuers in both the industrials and utilities sectors. As further discussed in Risk Factors  Industry Risks, companies engaged in the water utility and infrastructure industry are subject to certain risks, including price and supply fluctuations caused by international politics, energy conservation, taxes and other regulatory policies of various governments. Further, industrial issuers are subject to certain risks, including a deterioration in the general state of the economy, intense competition, domestic and international politics, excess capacity and changing spending trends. Utility companies face risks such as increased competition, increases in fuel and other operating costs, governmental regulations, and natural disasters. Negative developments in the water utility and infrastructure industry, industrials sector or utilities sector will affect the value of your investment more than would be the case in a more diversified investment.

  • The Portfolio invests in stocks of smaller capitalization companies. These stocks are often more volatile and have lower trading volumes than stocks of larger companies. Smaller capitalization companies may have limited products or financial resources, management inexperience and less publicly available information.

  • The Portfolio does not replicate all of the components of the Water Index or its component weightings and the stocks in the Portfolio will not change if the index components, or their weightings within the index, change. The performance of the Portfolio will not correspond with the Water Index for this reason and because the Portfolio incurs a sales charge and expenses. The Portfolio is not intended to replicate the performance of the index.

  • We do not actively manage the Portfolio. Except in limited circumstances, the Portfolio will hold, and may continue to buy, shares of the same securities even if their market value declines.

Value, core and growth are types of investment styles. Growth investing generally seeks stocks that offer the potential for greater-than-average earnings growth, and may entail greater risk than value or core investing. Value investing generally seeks stocks that may be sound investments but are temporarily out of favor in the marketplace, and may entail less risk than growth investing. A core investment combines the two styles.

The S-Network Water IndexSM is a modified capitalization weighted, float adjusted equity index designed to serve as an equity benchmark for globally traded stocks that are principally engaged in the water utilities and water technology industries. It is not possible to invest directly in an index.

"S-Network Global Indexes, LLCSM, S-Network Water IndexSM, S-Network Water Tech IndexSM" and "S-Network Water Works IndexSM" are service marks of S-Network Global Indexes, LLC and have been licensed for use by the Portfolio. The Portfolio is not sponsored, endorsed, sold or promoted by S-Network Global Indexes, LLC and S-Network Global Indexes, LLC makes no representation regarding the advisability of investing in the Portfolio."