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VAIC

VegaShares US Equity Autocallable Conservative Income ETF

VegaShares US Equity Autocallable Conservative Income ETF seeks to generate consistent weekly income with an emphasis on reduced downside risk through exposure to a laddered portfolio of autocallables.

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FUND INFORMATION

Inception Date 9/24/2026
Primary Exchange NYSE Arca
Ticker VAIC
CUSIP 92255C607
Current Swap Counterparty Goldman Sachs
Total Expense Ratio 0.74%

FUND DATA & PRICING

As of 10/09/2026
Net Assets $1,013,512.41
NAV $25.34
Shares Outstanding 40,000
Distribution Frequency Weekly
Distribution Rate 9.24%
30 Day SEC Yield -
Premium/discount Percentage 0.08%
Closing Price $25.36
Median 30 Day Spread 0.51%

Key Features

  • Seeks Moderate, Stable Weekly Income. Distributions tied to equity market performance rather than credit or duration, on a weekly cadence.
  • Focus on Risk Mitigation. Designed to help limit drawdowns across different market conditions.
  • Tax-Advantaged Income. Seeks favorable tax treatment on distributions vs. ordinary income.
  • Model-Portfolio Ready. Single ticker solution, liquid, and operationally efficient.
  • Laddered Exposure. 52 autocallables with staggered entries and maturities seek consistent income and reduced timing risk.

Portfolio Fit

  • Conservative Income Sleeve. Add moderate weekly income with downside protection before principal is at risk.
  • Reduced Mark-to-Market Volatility. Designed with a more conservative risk profile compared to other autocallable funds in the VegaShares product suite.
  • Tax-Efficient ETF Wrapper. May be ideal for taxable accounts with 1099 reporting.

Who is this for?

VAIC is designed for income-oriented investors and advisors who are searching for moderate income with a reduced downside risk profile.

For many investors, VAIC can serve as an equity and fixed income alternative: a way to generate moderate distributions tied to the U.S. equity market while potentially protecting against losses.

1 As of 09/30/2026.

2 As of 10/09/2026 .

3 As of 10/09/2026.

Fund Documents

Fund Profile
Product Brief
A Beginner’s Guide to Autocallable ETFs
Prospectus
Summary Prospectus
SAI

PERFORMANCE

Quarter end returns as of 09/30/2026
Cumulative Avg. Annualized
  Quarter Since Inception 1 Year 3 Year 5 Year Since Inception
Fund NAV - -0.60% - - - -
Market Price - -0.31% - - - -

Expense ratio: 0.74%

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 (888) 862-3299.

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.

AUTOCALLABLE DASHBOARD

Current Analysis of NYSE® U.S. 500 Adaptive Vol Autocallable Conservative Index

As of 10/12/2026

9.29% Weighted Avg. Coupon
52 Live Autocallables
4.74 yrs Weighted Avg. Time to Maturity
1.92 yrs Weighted Avg. Expected Life
100% Autocallables Paying Coupons
0% Autocallables Near Maturity with Principal at Risk
99.52% Weighted Avg. Mark-to-Market

DISTRIBUTION INFORMATION

Distribution Frequency
Weekly
Distribution Rate
9.24%
Distribution Amount / Share ($)
$0.0450
Distribution Amount / Share (%)
0.18%
30 Day SEC Yield
-
Download Premium Discount Information

Distribution Detail

Ex-Date Record Date Payable Date Amount ROC Form 19a-1
2026
10/08/2026 10/08/2026 10/09/2026 $0.045 24.9% View
10/15/2026 10/15/2026 10/16/2026 - - -
10/22/2026 10/22/2026 10/23/2026 - - -
10/29/2026 10/29/2026 10/30/2026 - - -
11/05/2026 11/05/2026 11/06/2026 - - -

There is no guarantee that the fund will pay distributions in the future, if any, and that the current distribution may vary. Distributions may include income, capital gains, or return of capital and may change during the year. Details are provided in the fund’s 19a-1 Notice on our website. 

These distributions may exceed the fund’s income and gains for the fund’s taxable year. Distributions in excess of the fund’s current and accumulated earnings and profits will be treated as a return of capital. 

A final determination of the tax character of distributions paid by the fund will not be known until the completion of the funds’ fiscal year and there can be no assurance as to the portions of each fund’s distributions that will constitute return of capital and/or dividend income. The final determination of the tax character of distributions paid by the fund will be reported to shareholders on their Form 1099-DIV. Please consult your tax advisor for proper treatment on your tax return.

Top 10 Holdings

Data as of 10/13/2026
% Of Net Assets Name Ticker CUSIP Shares Held Market Value
100.02% NYSE 500AUTOCALL CONSERVATIVE-SWAP-GOLD-L AUTCC500-TRS-09/24/29-L AUTCC500-TRS-09/24/29-L 223 1,013,495.08
95.92% United States Treasury Bill 11/19/2026 912797UZ8 912797UZ8 976,000 972,030.23
2.77% First American Government Obligations Fund 12/01/2031 FGXXX 31846V336 28,036 28,036.38
-98.72% Cash & Other Cash&Other Cash&Other -1,000,361 -1,000,361.25
Download Full Holdings
Holdings are subject to change. 

FAQs

VAIC is an ETF that seeks contingent periodic income with contingent downside protection through exposure to U.S. equity-linked autocallables. The fund uses swaps to gain exposure to the NYSE® U.S. 500 Adaptive Vol Autocallable Conservative Index, which contains a laddered portfolio of 52 synthetic autocallables. VAIC seeks weekly distributions and is designed as a more conservative alternative within the VegaShares autocallable ETF family.

An autocallable is a market-linked investment that can be called prior to its scheduled maturity date. In VAIC’s index, each autocallable has a coupon rate that is determined when each new autocallable is added to the index. A coupon is paid when that autocallable’s reference index is at or above the coupon barrier on its monthly coupon observation date. After an initial non-call period, the autocallable may be called early at its principal value if that autocallable’s reference index meets or exceeds the autocall barrier. Principal repayment at maturity depends on the reference index’s performance.

VAIC’s underlying index spreads exposure across 52 autocallables with staggered maturity dates, initial values, and barrier levels, reducing dependence on a single starting point and a single market condition. Called or matured autocallables are immediately replaced within the index with new autocallables. Each new autocallable is linked to a target-volatility index on the NYSE® U.S. 500 Index; the volatility target, within the range of 20% to 30%, is selected based on then-current market implied volatility at inception of each autocallable. An autocallable linked to a higher target-volatility index would yield higher contingent coupons than an autocallable linked to a lower target-volatility index. This is the second autocallable ETF in the U.S. with adaptive volatility as part of the VegaShares autocallable ETF family.

VAIC seeks to pay distributions weekly, based on the amount of coupons received among the 52 autocallables. Amounts can vary and are not guaranteed. The fund seeks tax-efficient distributions with the goal of having the majority classified as return of capital. For U.S. investors in taxable accounts, return of capital generally is not taxable when received, but rather reduces the investor’s cost basis in their shares, potentially increasing a future capital gain or reducing a future capital loss. Amounts exceeding the remaining basis are generally taxed as capital gains. Final tax treatment is reported on Form 1099-DIV. This is not tax advice.

VAIC seeks to pay distributions weekly. Amounts can vary and are not guaranteed. Past distributions are listed on the Distributions tab of the VAIC fund page.

VAIC does not guarantee your principal. Its share price and net asset value (NAV) can decline before any autocallable matures. Coupons are missed when a reference index falls below its coupon barrier on a coupon observation date. Each autocallable has contingent principal protection at maturity. If its reference index finishes below 60% of its starting level, the autocallable bears the full decline from that starting level. See the prospectus for a complete list of the fund’s risk factors.

Covered call ETFs capture option premiums by selling call options against equity exposure. Covered call strategies generally limit equity upside beyond the call strike and experience immediate loss on equity downside. Autocallables, in general, capture option premiums by selling longer-dated barrier put options. Autocallables do not participate in any upside on equity exposure, but receive contingent downside protection at maturity as long as the underlying reference index does not fall below a barrier level. Keep in mind that the contingent principal protection on the autocallables is only provided at maturity of each autocallable. The autocallable ETF itself can still experience NAV declines should the reference indices on the autocallables decrease in level.

VAIC uses a lower range of target-volatility indices than VAIE: from 20% to 30%, compared with 25% to 35%. Its coupon and principal barriers are also lower, at 60% of each reference index’s starting level, compared with 70% for VAIE. Both funds select a new volatility target for each new autocallable based on market implied volatility. “Conservative” describes VAIC’s positioning within the VegaShares autocallable family.

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Investing involves risk, including the loss of principal.

An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. A prospectus and a summary prospectus which contains this and other information about the fund may be obtained by calling (888) 862-3299 or visiting VegaSharesETFs.com. The prospectus and the summary prospectus should be read carefully before investing.

An investment in the Fund is subject to investment risks; therefore, you may lose money by investing in the Fund. There can be no assurance that the Fund will be successful in meeting its investment objective. The Fund is not intended to be a complete investment program. Generally, the Fund will be subject to the following principal risks:

The principal risks of investing in the VegaShares US Equity Autocallable Conservative Income ETF include: market risk, equity securities risk, sector risk, autocallable risk (coupon payment risk, autocall barrier risk, and maturity barrier risk), indirect debt instruments risk, swap agreements risk, index risk, active management risk, distribution tax risk, limited history of operations risk, non-diversification risk, box spread risk, FLEX options risk, cash create and redeem transaction risk, and ETF structure risk. For a detailed list of fund risks see the prospectus.

Autocallable Risk. The Fund’s returns are correlated to the performance of the Autocallables included in the NYSE® U.S. 500 Adaptive Vol Autocallable Conservative Index. Autocallables are unique financial instruments and have certain characteristics that may be unfamiliar to many investors:

Coupon Payment Risk. A coupon payment from an Autocallable is not guaranteed and will not be made if the respective reference index breaches the respective coupon barrier on any given observation date. As a result, the Fund may generate significantly less income than anticipated during market downturns.

Autocall Barrier Risk. If the respective reference index reaches or breaches the respective autocall barrier for any given Autocallable on an observation date after the expiration of the respective non-callable period, then the Autocallable will be called before its scheduled maturity. This automatic early redemption could force reinvestment of that portion of the portfolio at lower rates if market yields have declined.

Maturity Barrier Risk. If the respective reference index is below the respective maturity barrier for an Autocallable on the day that the Autocallable matures, the Fund will be fully exposed to the downside of the respective reference index from its initial level and the amount of principal repaid to the Fund will be reduced by an amount equal to that downside performance of the respective index. This conditional protection creates a binary outcome that can result in sudden, significant losses if a maturity barrier is breached. If a reference index’s value is at or near its maturity barrier for an Autocallable at the end of the Autocallable’s maturity, small changes in the value of the reference index could result in dramatic changes in the value of the Autocallable and NYSE® U.S. 500 Adaptive Vol Autocallable Conservative Index and therefore the Fund’s NAV. Investors should understand these risks before investing in the Fund.

Swap Agreements Risk. Swap agreements are entered into primarily with major financial intermediaries for a specified period which may range from one day to more than one year. In a standard swap transaction, two parties agree to exchange the return (or differentials in rates of return) earned or realized on particular predetermined reference or underlying securities or instruments. The gross return to be exchanged or swapped between the parties is calculated based on a notional amount or the return on or change in value of a particular dollar amount invested in a reference asset. Swap agreements are generally traded over-the-counter, and therefore, may not receive regulatory protection, which may expose investors, including the Fund, to significant losses. A swap counterparty may default on its obligations to the Fund.

Index Risk. Each Underlying Reference Index is subject to imputed costs which create a constant drag on the performance of each Underlying Reference Index, potentially offsetting positive returns of the NYSE® U.S. 500 Index, and exacerbating negative returns. Each Underlying Reference Index employs a volatility targeting mechanism which may not perform as expected. An Underlying Reference Index may reduce equity exposure during periods that subsequently see strong equity performance, potentially limiting upside participation. The use of implied volatility rather than realized volatility may not accurately predict future market volatility. Rebalancing frequency may not respond quickly enough to rapid market changes.

Distribution Tax Risk. The Fund’s distributions may exceed the Fund’s income and gains for the Fund’s taxable year. Distributions in excess of the Fund’s current and accumulated earnings and profits are treated as a return of capital. A return of capital distribution generally will not be taxable but will reduce the shareholder’s cost basis and will result in a higher capital gain or lower capital loss when those Fund shares on which the distribution was received are sold. Because a portion of the Fund’s distributions will likely consist of return of capital, the Fund may not be appropriate for investors who do not want their principal investment in the Fund to decrease over time or who do not wish to receive return of capital in a given period.

Limited History of Operations Risk. The Fund is a new ETF and has a limited history of operations for investors to evaluate.

Non-Diversification Risk. The Fund’s portfolio may focus on a limited number of investments and will be subject to the potential for greater volatility than a diversified fund.

VegaShares ETFs are distributed by Foreside Financial Services, LLC. Foreside is not affiliated with VegaShares ETFs.