CAMBRIA ETF TRUST VALUE & MOMENTUM ETF

The Cambria Value and Momentum ETF (the “Fund”) seeks to preserve and grow capital from investments in the U.S. equity markets. Specifically, VAMO invests in 100 stocks with market caps greater than US $200 million that rank among the highest in value factors, as well as momentum factors. The Fund then has the ability to hedge up to 100% of the portfolio based on top down objective assessments of stock valuations and market trends.