Semi-Annual Report March 31, 2021 (Unaudited)
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Semi-Annual Report March 31, 2021 (Unaudited) Wedbush ETFMG Video Game Tech ETF Wedbush ETFMG Global Cloud Technology ETF The Funds are a series of ETF Managers Trust. Wedbush ETFMG TM ETFs TABLE OF CONTENTS March 31, 2021 (Unaudited) Page Shareholder Letter 2 Growth of $10,000 Investment - Wedbush ETFMG Global Cloud Technology ETF 3 Top 10 Holdings - Wedbush ETFMG Global Cloud Technology ETF 4 Growth of $10,000 Investment - Wedbush ETFMG Video Game Tech ETF 5 Top 10 Holdings - Wedbush ETFMG Video Game Tech ETF 6 Important Disclosures and Key Risk Factors 7 Portfolio Allocations 9 Schedule of Investments 10 Statements of Assets and Liabilities 19 Statements of Operations 20 Statements of Changes in Net Assets 21 Financial Highlights 23 Notes to the Financial Statements 25 Approval of Advisory Agreements and Board Considerations 36 Expense Example 39 Statement Regarding Liquidity Risk Management Program 40 Supplementary Information 41 Information About Portfolio Holdings 42 Information About ProXy Voting 42 Trustees and Officers Table 43 Wedbush ETFMG TM ETFs Dear Shareholder, On behalf of the entire team, we want to express our appreciation for the confidence you have placed in these ETFs. The following information pertains to the fiscal period from October 1, 2020 to March 31, 2021 Performance Overview During the 6-month period ended March 31, 2021, the S&P 500 Information Technology Sector Index, a broad measure of US listed technology companies, returned 13.85%. During the same period, the S&P Global 1200 Information Technology Sector Index, a broad measure of global technology companies, returned 16.97%. Below is a performance overview for each Fund for the same 6-month period. Wedbush ETFMG Global Cloud Technology ETF (IVES)* The Wedbush ETFMG Global Cloud Technology ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Dan Ives Global Cloud Technology Prime Index (the “Index”). Over the period, the total return for the Fund was 13.54%, while the total return for the Index was 13.99%. The best performers in the Fund on the basis of contribution to return were Sinch AB., Cloudflare Inc., Netapp Inc., Appian Corp. and Kingsoft Cloud Holdings-ADR. while the worst performers were Datadog Inc., Itochu Techno-Solutions Corp., Fastly Inc., Chindata Group Holdings-ADR and Software AG. At the end of the reporting period, the Fund saw an average approximate allocation of 57.4% to Software, 32.0% to IT Services, 4.8% to Equity Real Estate Investment Trusts and 4.8% to Technology Hardware, Storage & Peripherals. The Fund was exposed predominately to the United States 65.4%, followed by Japan 8.9%, Canada 4.9%, Israel 4.5% and Sweden 4.5%. Wedbush ETFMG Video Game Tech ETF (GAMR)** The Wedbush ETFMG Video Game Tech ETF (the “Fund”) seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the EEFund Video Game Tech Index (the “Index”). Over the period, the total return for the Fund was 43.49%, while the total return for the Index was 43.80%. The best performers in the Fund on the basis of contribution to return were Gamestop Corp., Corsair Gaming Inc., Bilbili Inc., Codemasters Group Holdings, Plc and Wemade Co Ltd. while the worst performers were CD Projekt SA., Paradox Interactive AB., Stillfront Group AB, Square Enix Holdings Co., Ltd., and Netmarble Corp. At the end of the reporting period, the Fund saw an average approximate allocation of 69.5% to Entertainment, 9.8% to Technology Hardware, Storage & Peripherals and 4.6% to Interactive Media & Services. The Fund was exposed predominately to the United States 37.8%, followed by the Republic of Korea 18.5%, Japan 16.7%, and Sweden 9.5%. You can find further details about IVES* and GAMR* by visiting www.etfmg.com, or by calling 1-844-383-6477. Sincerely, Samuel Masucci III Chairman of the Board *Please be aware that as of Tuesday, April 7, 2020 the following changes went into effect for the ETFMG Drone Economy Strategy ETF (IFLY): 1. The Fund’s name was changed to the Wedbush ETFMG Global Cloud Technology ETF; 2. The Fund’s previous underlying index, the Reality Shares Drone Index (the “Previous Index”), was replaced with the Dan Ives Global Cloud Technology Prime Index; and 3. The Fund’s investment objective was changed to the following: “The Wedbush ETFMG Global Cloud Technology ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Dan Ives Global Cloud Technology Prime Index” (the “Index”). 4. The Fund’s ticker was changed to “IVES”. **Please be aware that as of Friday, April 17, 2020 the name of the ETFMG Video Game Tech ETF changed to the “Wedbush ETFMG Video Game Tech ETF”. 2 Wedbush ETFMG Global Cloud Technology ETF Growth of $10,000 (Unaudited) $23,000 $22,000 $21,000 $20,000 $19,000 $18,000 $17,000 $16,000 $15,000 $14,000 $13,000 $12,000 $11,000 $10,000 $9,000 03/08/201606/30/201609/30/201612/31/201603/31/201706/30/201709/30/201712/31/201703/31/201806/30/201809/30/201812/31/201803/31/201912/31/201903/31/202006/30/202009/30/202012/31/202003/31/2021 Wedbush ETFMG Global Cloud Technology ETF (NAV) Wedbush ETFMG Global Cloud Technology ETF (Market) S&P 500 Index ETFMG Global Cloud Blended Index Since Value of Average Annual Returns 1 Year 5 Year Inception $10,000 Period Ended March 31, 2021 Return Return (3/8/2016) (3/31/2021) Wedbush ETFMG Global Cloud Technology ETF (NAV) 74.55% 13.72% 14.56% $19,899 Wedbush ETFMG Global Cloud Technology ETF (Market) 78.03% 13.68% 14.65% $19,979 S&P 500 Index 56.35% 16.29% 17.02% $22,161 ETFMG Global Cloud Blended Index 75.97% 13.43% 14.30% $19,672 Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. All performance is historical and includes reinvestment of dividends and capital gains. Performance data current to the most recent month end may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477). The chart illustrates the performance of a hypothetical $10,000 investment made on March 8, 2016, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions from the sales of Fund shares. The chart assumes reinvestment of capital gains and dividends, if any. The Index Returns do not reflect fees or expenses and are not available for direct investment. 3 Wedbush ETFMG TM ETFs Wedbush ETFMG Global Cloud Technology ETF Top Ten Holdings as of March 31, 2021* (Unaudited) Security % of Total Investments 1 Open TeXt Corp. 4.87% 2 ETFMG Sit Ultra Short ETF** 4.72% 3 Nice, Ltd. 4.54% 4 Sinch AB 4.53% 5 Elastic NV 4.13% 6 GDS Holdings, Ltd. 4.07% 7 Cloudflare, Inc. - Class A 3.59% 8 Itochu Techno-Solutions Corp. 3.42% 9 Datadog, Inc. - Class A 3.37% 10 Kingsoft Cloud Holdings, Ltd. 3.37% Top Ten Holdings =40.61% of Total Investments * Current Fund holdings may not be indicative of future Fund holdings. ** Affiliated security. Please refer to Note 9 of the Notes to the Financial Statements. 4 Wedbush ETFMG Video Game Tech ETF Growth of $10,000 (Unaudited) $48,000 $43,000 $38,000 $33,000 $28,000 $23,000 $18,000 $13,000 $8,000 03/31/201606/30/201609/30/201612/31/201603/31/201706/30/201709/30/201712/31/201703/31/201806/30/201809/30/201812/31/201803/31/201906/30/201909/30/201912/31/201903/31/202006/30/202009/30/202012/31/202003/31/2021 Wedbush ETFMG Video Game Tech ETF (NAV) Wedbush ETFMG Video Game Tech ETF (Market) S&P 500 Index EEFund Video Game Tech Index Since Value of Average Annual Returns 1 Year 5 Year Inception $10,000 Period Ended March 31, 2021 Return Return (3/8/2016) (3/31/2021) Wedbush ETFMG Video Game Tech ETF (NAV) 127.24% 30.92% 32.17% $41,041 Wedbush ETFMG Video Game Tech ETF (Market) 130.80% 31.01% 32.37% $41,365 S&P 500 Index 56.35% 16.29% 17.02% $22,161 EEFund Video Game Tech Index 129.94% 31.31% 32.57% $41,689 Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. All performance is historical and includes reinvestment of dividends and capital gains. Performance data current to the most recent month end may be obtained by calling 1-844-ETF-MGRS (1-844-383-6477). The chart illustrates the performance of a hypothetical $10,000 investment made on March 8, 2016, and is not intended to imply any future performance. The returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions from the sales of Fund shares. The chart assumes reinvestment of capital gains and dividends, if any.