As filed with the Securities and Exchange Commission on February 14, 2013
Securities Act File No. 333-156529
Investment Company Act File No. 811-22263
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT
UNDER
| THE SECURITIES ACT OF 1933 | x | |||
| Pre-Effective Amendment No. | ¨ | |||
| Post-Effective Amendment No. 47 | x |
and/or
REGISTRATION STATEMENT
UNDER
| THE INVESTMENT COMPANY ACT OF 1940 | x | |||
| Amendment No. 50 | x |
(Check appropriate box or boxes.)
EXCHANGE TRADED CONCEPTS TRUST
(Exact Name of Registrant as Specified in Charter)
2545 South Kelly Avenue
Suite C
Edmond, Oklahoma 73013
(Address of Principal Executive Offices) (Zip Code)
(405) 778-8377
(Registrant’s Telephone Number, including Area Code)
J. Garrett Stevens
Exchange Traded Concepts Trust
2545 South Kelly Avenue
Suite C
Edmond, Oklahoma 73013
(Name and Address of Agent for Service)
| Copy to: |
W. John McGuire
Bingham McCutchen LLP
2020 K Street NW
Washington, DC 20006
It is proposed that this filing will become effective (check appropriate box):
| x | Immediately upon filing pursuant to paragraph (b) | |
| ¨ | On (date) pursuant to paragraph (b) | |
| ¨ | 60 days after filing pursuant to paragraph (a)(1) | |
| ¨ | On (date) pursuant to paragraph (a)(1) | |
| ¨ | 75 days after filing pursuant to paragraph (a)(2) | |
| ¨ | On (date) pursuant to paragraph (a)(2) of Rule 485 |
If appropriate, check the following box:
| ¨ | This post-effective amendment designates a new effective date for a previously filed post-effective amendment. |
EXPLANATORY NOTE
This Post-Effective Amendment No. 47 relates solely to the Forensic Accounting ETF, a separate series of Exchange Traded Concepts Trust.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 (the “Securities Act”) and the Investment Company Act of 1940, the Registrant certifies that it meets all of the requirements for effectiveness of this Registration Statement under Rule 485(b) under the Securities Act and has duly caused this Post-Effective Amendment No. 47 to Registration Statement No. 333-156529 be signed on its behalf by the undersigned, duly authorized, in the City of Edmond, State of Oklahoma, on this 14th day of February, 2013.
| Exchange Traded Concepts Trust | |
| /s/ J. Garrett Stevens | |
| J. Garrett Stevens | |
| Trustee and President |
Pursuant to the requirements of the Securities Act, this Post-Effective Amendment No. 47 has been signed below by the following persons in the capacity and on the date indicated.
|
Signature |
Title |
Date | ||
|
* Gary L. French
|
Trustee | February 14, 2013 | ||
|
* David M. Mahle
|
Trustee | February 14, 2013 | ||
|
* Kurt Wolfgruber
|
Trustee | February 14, 2013 | ||
|
* Mark A. Zurack
|
Trustee | February 14, 2013 | ||
|
/s/ J. Garrett Stevens J. Garrett Stevens
|
Trustee and President | February 14, 2013 | ||
|
* Richard Hogan
|
Treasurer and Secretary | February 14, 2013 | ||
|
/s/ J. Garrett Stevens J. Garrett Stevens
|
||||
| * | Attorney-in-Fact, pursuant to power of attorney. |
Exhibit Index
|
Exhibit Number |
Description | |
| EX-101.INS | XBRL Instance Document | |
| EX-101.SCH | XBRL Taxonomy Extension Schema Document | |
| EX-101.CAL | XBRL Taxonomy Extension Calculation Linkbase | |
| EX-101.DEF | XBRL Taxonomy Extension Definition Linkbase | |
| EX-101.LAB | XBRL Taxonomy Extension Labels Linkbase | |
| EX-101.PRE | XBRL Taxomony Extension Presentation Linkbase | |
| Exchange Traded Concepts Trust (Prospectus Summary) | Forensic Accounting ETF | |||||||||||||||||
Forensic Accounting ETF |
|||||||||||||||||
Investment Objective |
|||||||||||||||||
The Forensic Accounting ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Del Vecchio Earnings Quality Index (the “Index”). |
|||||||||||||||||
Fees and Expenses |
|||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Fund Shares.
|
|||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
|||||||||||||||||
|
|||||||||||||||||
Example |
|||||||||||||||||
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your cost would be: |
|||||||||||||||||
|
|||||||||||||||||
Portfolio Turnover |
|||||||||||||||||
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. |
|||||||||||||||||
Principal Investment Strategies |
|||||||||||||||||
The Fund will normally invest at least 80% of its total assets in securities of the Index. The Index is comprised of approximately 380-400 equity securities and is designed to measure the performance of U.S. large capitalization companies that have been selected and ranked according to their “earnings quality.” The component companies of the Index are derived from 500 large capitalization companies in the U.S., which may include real estate investment trusts (“REITS”). The equity securities in which the Fund may invest are primarily common stocks, but may also include shares of REITs. Each of these companies is assigned a grade based on its earnings quality assessed through a proprietary analysis of the company’s financial reports. Companies determined to have overstated revenue, underestimated expenses, generated unsustainable sources of cash flow, or that are otherwise viewed as underperforming, are given the lowest grade (an “F”) and are excluded from the Index. The remaining companies are included in the Index. Companies with “A” grades are deemed to have the highest earnings quality and comprise 40% of the Index at the time of Index reconstitution, while companies assigned grades “B,” “C” and “D” each as a group comprise 20% of the Index at the time of Index reconstitution. Securities within each grade are equal-weighted. Company grades are generated monthly based on the earnings quality analysis. If a component company’s grade falls to “F,” it will be removed from the Index and replaced with a security of a higher graded company during that month. The Index is reconstituted monthly. The Index is unmanaged and cannot be invested in directly.
|
|||||||||||||||||
Principal Risks |
|||||||||||||||||
As with all funds, a shareholder is subject to the risk that his or her investment could lose money. The principal risks affecting shareholders’ investments in the Fund are set forth below. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. Early Close/Trading Halt Risk: An exchange or market may close or issue trading halts on specific securities, or the ability to buy or sell certain securities or financial instruments may be restricted, which may result in the Fund being unable to buy or sell certain securities or financial instruments. In such circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price its investments and/or may incur substantial trading losses. Index Tracking Risk: The Fund’s return may not match or achieve a high degree of correlation with the return of the Index. To the extent the Fund utilizes a sampling approach, it may experience tracking error to a greater extent than if the Fund sought to replicate the Index. Issuer-Specific Risk: Fund performance depends on the performance of individual securities to which the Fund has exposure. Issuer-specific events, including changes in the financial condition of an issuer, can have a negative impact on the value of the Fund. Large-Capitalization Risk: Returns on investments in securities of large companies could trail the returns on investments in securities of smaller and mid-sized companies. Management Risk: Because the Fund may not fully replicate its Index and may hold fewer than the total number of securities in its Index and may hold securities not included in its Index, the Fund is subject to management risk. This is the risk that the Sub-Adviser’s security selection process, which is subject to a number of constraints, may not produce the intended results. Market Risk: The values of equity securities in the Index could decline generally or could underperform other investments. Passive Investment Risk: The Fund is not actively managed and therefore the Fund would not sell shares of an equity security due to current or projected underperformance of a security, industry or sector, unless that security is removed from the Index or the selling of shares is otherwise required upon a rebalancing of the Index. REIT Risk : The Index may include REITs. Adverse economic, business or political developments affecting real estate could have a major effect on the value of the Fund’s investments in REITs. Investing in REITs may subject the Fund to risks associated with the direct ownership of real estate, such as decreases in real estate values, overbuilding, increased competition and other risks related to local or general economic conditions, increases in operating costs and property taxes, changes in zoning laws, casualty or condemnation losses, possible environmental liabilities, regulatory limitations on rent and fluctuations in rental income. In addition, REITs are subject to the possibility of failing to qualify for the favorable U.S. federal income tax treatment generally available to them under the Internal Revenue Code of 1986, as amended (the “Code”), and failing to maintain exemption from the registration requirements of the Investment Company Act of 1940, as amended. |
|||||||||||||||||
Performance Information |
|||||||||||||||||
The Fund is new, and therefore has no performance history. Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by comparing the Fund’s return to a broad measure of market performance. |
|||||||||||||||||
"+ text.join( "
\n" ) +"
" + text[p] + "
\n"; } } }else{ formatted = '' + raw + '
'; } html = ''+ "\n"+''+ "\n"+'| '+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+' | '+ "\n"+'
| '+ "\n"+' '+ "\n"+' | '+ "\n"+'
| '+ "\n"+' '+ "\n"+' | '+ "\n"+'
| Label | Element | Value |
|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |
| Document Type | dei_DocumentType | 485BPOS |
| Document Period End Date | dei_DocumentPeriodEndDate | Jan. 29, 2013 |
| Entity Registrant Name | dei_EntityRegistrantName | EXCHANGE TRADED CONCEPTS TRUST |
| Entity Central Index Key | dei_EntityCentralIndexKey | 0001452937 |
| Amendment Flag | dei_AmendmentFlag | false |
| Document Creation Date | dei_DocumentCreationDate | Jan. 29, 2013 |
| Document Effective Date | dei_DocumentEffectiveDate | Jan. 29, 2013 |
| Prospectus Date | rr_ProspectusDate | Jan. 29, 2013 |
|
Exchange Traded Concepts Trust (Prospectus Summary) | Forensic Accounting ETF | Forensic Accounting ETF
|
||
| Risk/Return: | rr_RiskReturnAbstract | |
| Trading Symbol | dei_TradingSymbol | FLAG |
| Label | Element | Value | ||
|---|---|---|---|---|
| Risk/Return: | rr_RiskReturnAbstract | |||
| Prospectus Date | rr_ProspectusDate | Jan. 29, 2013 | ||
|
Exchange Traded Concepts Trust (Prospectus Summary) | Forensic Accounting ETF
|
||||
| Risk/Return: | rr_RiskReturnAbstract | |||
| Risk/Return, Heading | rr_RiskReturnHeading | Forensic Accounting ETF |
||
| Investment Objective, Heading | rr_ObjectiveHeading | Investment Objective |
||
| Investment Objective, Primary | rr_ObjectivePrimaryTextBlock | The Forensic Accounting ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the Del Vecchio Earnings Quality Index (the “Index”). |
||
| Expense, Heading | rr_ExpenseHeading | Fees and Expenses |
||
| Expense, Narrative | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund (“Shares”). This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Fund Shares.
|
||
| Operating Expenses, Caption | rr_OperatingExpensesCaption | Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
||
| Portfolio Turnover, Heading | rr_PortfolioTurnoverHeading | Portfolio Turnover |
||
| Portfolio Turnover | rr_PortfolioTurnoverTextBlock | The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the Fund’s performance. |
||
| Expense, Exchange Traded Fund, Commissions | rr_ExpenseExchangeTradedFundCommissions | This table and the Example below do not include the brokerage commissions that investors may pay on their purchases and sales of Fund Shares. |
||
| Expense Example, Heading | rr_ExpenseExampleHeading | Example |
||
| Expense Example, Narrative | rr_ExpenseExampleNarrativeTextBlock | This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.
The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your cost would be: |
||
| Investment Strategy, Heading | rr_StrategyHeading | Principal Investment Strategies |
||
| Investment Strategy, Narrative | rr_StrategyNarrativeTextBlock | The Fund will normally invest at least 80% of its total assets in securities of the Index. The Index is comprised of approximately 380-400 equity securities and is designed to measure the performance of U.S. large capitalization companies that have been selected and ranked according to their “earnings quality.” The component companies of the Index are derived from 500 large capitalization companies in the U.S., which may include real estate investment trusts (“REITS”). The equity securities in which the Fund may invest are primarily common stocks, but may also include shares of REITs. Each of these companies is assigned a grade based on its earnings quality assessed through a proprietary analysis of the company’s financial reports. Companies determined to have overstated revenue, underestimated expenses, generated unsustainable sources of cash flow, or that are otherwise viewed as underperforming, are given the lowest grade (an “F”) and are excluded from the Index. The remaining companies are included in the Index. Companies with “A” grades are deemed to have the highest earnings quality and comprise 40% of the Index at the time of Index reconstitution, while companies assigned grades “B,” “C” and “D” each as a group comprise 20% of the Index at the time of Index reconstitution. Securities within each grade are equal-weighted. Company grades are generated monthly based on the earnings quality analysis. If a component company’s grade falls to “F,” it will be removed from the Index and replaced with a security of a higher graded company during that month. The Index is reconstituted monthly. The Index is unmanaged and cannot be invested in directly.
|
||
| Investment Strategy, Portfolio Concentration | rr_StrategyPortfolioConcentration | The Fund may invest up to 20% of its assets in investments that are not included in the Index, but which the Adviser believes will help the Fund track the Index. Such investments include cash and cash equivalents, including money market funds. |
||
| Risk, Heading | rr_RiskHeading | Principal Risks |
||
| Risk, Narrative | rr_RiskNarrativeTextBlock | As with all funds, a shareholder is subject to the risk that his or her investment could lose money. The principal risks affecting shareholders’ investments in the Fund are set forth below. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. Early Close/Trading Halt Risk: An exchange or market may close or issue trading halts on specific securities, or the ability to buy or sell certain securities or financial instruments may be restricted, which may result in the Fund being unable to buy or sell certain securities or financial instruments. In such circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price its investments and/or may incur substantial trading losses. Index Tracking Risk: The Fund’s return may not match or achieve a high degree of correlation with the return of the Index. To the extent the Fund utilizes a sampling approach, it may experience tracking error to a greater extent than if the Fund sought to replicate the Index. Issuer-Specific Risk: Fund performance depends on the performance of individual securities to which the Fund has exposure. Issuer-specific events, including changes in the financial condition of an issuer, can have a negative impact on the value of the Fund. Large-Capitalization Risk: Returns on investments in securities of large companies could trail the returns on investments in securities of smaller and mid-sized companies. Management Risk: Because the Fund may not fully replicate its Index and may hold fewer than the total number of securities in its Index and may hold securities not included in its Index, the Fund is subject to management risk. This is the risk that the Sub-Adviser’s security selection process, which is subject to a number of constraints, may not produce the intended results. Market Risk: The values of equity securities in the Index could decline generally or could underperform other investments. Passive Investment Risk: The Fund is not actively managed and therefore the Fund would not sell shares of an equity security due to current or projected underperformance of a security, industry or sector, unless that security is removed from the Index or the selling of shares is otherwise required upon a rebalancing of the Index. REIT Risk : The Index may include REITs. Adverse economic, business or political developments affecting real estate could have a major effect on the value of the Fund’s investments in REITs. Investing in REITs may subject the Fund to risks associated with the direct ownership of real estate, such as decreases in real estate values, overbuilding, increased competition and other risks related to local or general economic conditions, increases in operating costs and property taxes, changes in zoning laws, casualty or condemnation losses, possible environmental liabilities, regulatory limitations on rent and fluctuations in rental income. In addition, REITs are subject to the possibility of failing to qualify for the favorable U.S. federal income tax treatment generally available to them under the Internal Revenue Code of 1986, as amended (the “Code”), and failing to maintain exemption from the registration requirements of the Investment Company Act of 1940, as amended. |
||
| Risk, Lose Money | rr_RiskLoseMoney | As with all funds, a shareholder is subject to the risk that his or her investment could lose money. |
||
| Risk, Not Insured Depository Institution | rr_RiskNotInsuredDepositoryInstitution | An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. |
||
| Performance Table Heading | rr_PerformanceTableHeading | Performance Information |
||
| Performance, Narrative | rr_PerformanceTableNarrativeTextBlock | The Fund is new, and therefore has no performance history. Once the Fund has completed a full calendar year of operations, a bar chart and table will be included that will provide some indication of the risks of investing in the Fund by comparing the Fund’s return to a broad measure of market performance. |
||
| Performance, One Year or Less | rr_PerformanceOneYearOrLess | The Fund is new, and therefore has no performance history. |
||
|
Exchange Traded Concepts Trust (Prospectus Summary) | Forensic Accounting ETF | Forensic Accounting ETF
|
||||
| Risk/Return: | rr_RiskReturnAbstract | |||
| Management Fee | rr_ManagementFeesOverAssets | 0.85% | ||
| Distribution and Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | ||
| Other Expenses | rr_OtherExpensesOverAssets | none | [1] | |
| Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 0.85% | ||
| Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | 87 | ||
| Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 271 | ||
|
||||