Relay Race ETP

The Relay Race Investment Strategy seeks to achieve long-term growth by employing event driven strategies in US equities, with a primary focus on smalland mid-cap stocks to capitalize on market inefficiencies. The typical investment horizon is 1 to 2 days. Events targeted for trading include capital increases, initial public offerings, mergers and acquisitions, changes in beneficial ownership, analyst reports, and quarterly and annual results. The strategy primarily takes long positions, though short positions are occasionally used. When event-driven opportunities are scarce, the strategy shifts exposure to three major US ETFs: SPDR S&P 500 ETF Trust, Invesco QQQ Trust, Series 1, and iShares Russell 2000.