WEBs SPY and QQQ Volatility ETFs to Reorganize Into Westwood Funds

WEBs ETF Trust plans to reorganize two existing defined-volatility ETFs into newly created Westwood funds, subject to shareholder approval. The WEBs SPY Defined Volatility ETF will reorganize into the Westwood Adaptive Exposure SPY ETF (WWSP), while the WEBs QQQ Defined Volatility ETF will reorganize into the Westwood Adaptive Exposure QQQ ETF (WWQQ). The new Westwood funds are being established as the acquiring vehicles for the transactions rather than as standalone new launches. WWSP will track the Syntax Defined Volatility US Large Cap 500 Index, targeting 20% annual volatility through dynamically adjusted SPY exposure, while WWQQ will track the Syntax Defined Volatility Triple Q’s Index with a 22% target tied to QQQ. Both strategies can vary exposure between 0% and 200% using ETF shares, total return swaps and cash depending on 21-day realized volatility. The reorganizations are expected to close in the first quarter of 2027, after which Westwood Management Corp. will serve as adviser and Vident Asset Management will remain sub-adviser.