Little Harbor Advisors to liquidate RMIF ETF

Little Harbor Advisors said the LHA Market State Risk Managed Income ETF will close and liquidate effective immediately after the July 1, 2026 close of business. The fund’s last trading day is July 27, 2026, after which remaining assets will be distributed to shareholders in cash.

Why it matters: - The closure ends trading in RMIF and forces investors to decide whether to sell shares before liquidation or wait for an automatic cash redemption. - The fund will stop following its stated investment strategy as it winds down, which changes the portfolio’s risk and return profile before liquidation is complete.

What happened: - Little Harbor Advisors said the Board of Trustees of ETF Series Solutions approved the closure and liquidation of the LHA Market State Risk Managed Income ETF, ticker RMIF. - The closure is effective immediately after the close of business on July 1, 2026. - Little Harbor recommended the liquidation because it is unclear whether the fund’s assets can be significantly increased in the near future.

The details: - The fund’s last day of trading will be July 27, 2026. - July 27, 2026 will also be the final day for creation unit orders by authorized participants. - The fund will begin liquidating portfolio assets on or about July 15, 2026. - As the portfolio sells down, the fund will increase cash holdings and deviate from the investment objective and strategies in its prospectus. - The fund will conclude operations and distribute remaining proceeds to shareholders promptly after July 27, 2026. - Shareholders who do not sell by that date will have shares automatically redeemed for cash based on the fund’s net asset value. - Customary brokerage charges may apply to transactions to sell fund shares. - Shareholders are advised to contact a tax advisor about the income tax consequences of the liquidation. - The prospectus and summary prospectus contain the fund’s investment objectives, risks, charges and expenses, and the documents can be obtained by calling 1-781-639-3000 ext. 147. - For additional information, Little Harbor provided the number 1-781-639-3000 ext. 101. - RMIF is distributed by Quasar Distributors, LLC.

Between the lines: - The liquidation suggests the fund did not reach the asset base Little Harbor needed to support ongoing operations. - The early move into cash typically reduces market exposure before a fund closes, but it also means the ETF is no longer tracking its intended strategy during the wind-down. - The announcement includes standard risk disclosures, including that investing involves risk and principal loss is possible.

What's next: - RMIF will continue trading until July 27, 2026, then stop operations. - Remaining holdings will be sold, and shareholders will receive cash proceeds after the final trading date. - Investors with questions can contact Little Harbor at 1-781-639-3000 ext. 101.