SCAP

THE INFRACAP SMALL CAP INCOME ETF

The InfraCap Small Cap Income ETF (the “Fund”) seeks total return through a blended approach of capital appreciation and current income.

Small Cap Value Investing Using SCAP ETF

KEY FEATURES

  • Dividend Income:  Target an above-average yield through small-capitalization common equity and the use of convertible and preferred securities. 
  • Active Management: Seek positive security selection using price targets based on the link between earnings growth and price earnings ratios (growth at a Reasonable Price - GARP).
  • Covered Call: Employ selective option writing strategy and modest leverage (typically 5-20%) to generate additional income while retaining upside market exposure.
  • Small Cap Companies: Opportunity to gain exposure to companies earlier in their growth cycle with potential for upside relative to market expectations given less research coverage.
FUND DOCUMENTS
FUND DETAILS
Fund Inception 12/11/2023
Ticker SCAP
Primary Exchange NYSE
CUSIP 81752T445
IOPV Symbol SCAP.IV
NAV Symbol SCAP.NV
Management Fee 0.80%
Total Expense Ratio 2.19%
30 Day Sec Yield* 4.11%

*As of 04/28/2026

SEC 30-day yield reflects the dividends and interest earned during the period, after the deduction of the fund's expenses.

FUND DATA & PRICING
Net Assets as of 04/28/2026 $19.51m
NAV $37.52
Shares Outstanding 520,000
Premium/discount Percentage 0.02%
Closing Price $37.53
Median 30 Day Spread 0.27%

Data as of 04/28/2026

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

PERFORMANCE
1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years Since Inception
NAV -5.76 -1.39 -1.39 15.47 - - NA 36.13
MKT Price -5.72 -1.52 -1.52 15.10 - - NA 36.04
Bloomberg US 2000 Value Total Return Index¹ -3.17 4.82 4.82 24.77 - - NA 33.97

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling 800-617-0004.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.
Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

ETFs may trade at a premium or discount to NAV. Shares of any ETF are bought and sold at market prices (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.

¹ Bloomberg US 2000 Value Total Return Index provides exposure to companies with superior value factor scores based on their earnings yield, valuation, dividend yield, and growth.

DISTRIBUTION DETAIL
EX-DATE RECORD DATE 1 YEAR* PAYABLE DATE
09/29/2025 09/29/2025 $2.46 09/30/2025
10/07/2025 10/08/2025 $0.80 10/10/2025
10/30/2025 10/30/2025 $0.20 10/31/2025
11/26/2025 11/26/2025 $0.20 11/28/2025
12/30/2025 12/30/2025 $0.24 12/31/2025
01/29/2026 01/29/2026 $0.24 01/30/2026
02/26/2026 02/26/2026 $0.24 02/27/2026
03/30/2026 03/30/2026 $0.24 03/31/2026

* per share on an annualized basis.

DOWNLOAD PREMIUM DISCOUNT INFORMATION
TOP 10 HOLDINGS
% OF NET ASSETS NAME TICKER CUSIP SHARES HELD MARKET VALUE
4.11% StoneX Group Inc SNEX 861896108 7,584 796,016.64
4.08% East West Bancorp Inc EWBC 27579R104 6,335 791,368.20
3.68% Huntington Ingalls Industries Inc HII 446413106 1,975 713,765.00
3.68% Bank of NT Butterfield & Son Ltd/The NTB G0772R208 12,714 713,255.40
3.44% Popular Inc BPOP 733174700 4,426 667,175.24
3.40% Hudbay Minerals Inc HBM 443628102 28,636 658,055.28
3.35% CECO Environmental Corp CECO 125141101 8,745 649,666.05
3.34% KKR & Co Inc 6.25% 03/01/2028 48251W500 48251W500 14,752 647,760.32
3.33% First American Government Obligations Fund 12/01/2031 FGXXX 31846V336 645,574 645,573.93
3.31% Wynn Resorts Ltd WYNN 983134107 6,039 641,341.80

Data as of 04/29/2026. Holdings are subject to change.

DOWNLOAD FULL HOLDINGS

FUND DOCUMENTS

Fund Literature

Press Release
Fact Sheet
Monthly Dividend Press Release - SCAP ETF Stock
Small Cap Primer
Small Company Investing
Dividend Calendar

Supplemental Information

2025 Distribution Calendar - SCAP ETF
SCAP ETF 2025 1099 ICI Primary Layout Information

Regulatory Documents

Prospectus
SAI
Summary Prospectus
InfraCap Small Cap Income ETF TSR
InfraCap Annual Core November 2024 Financial Statements
InfraCap Semi-Annual Core May 2025 Financial Statements
Part F August 2024
Part F, Feb 2024
June 30 2025 Proxy Voting Report
Annual Shareholder Report | November 30, 2025
Annual Financial Statement & Additional Information | November 30, 2025