Tidal Trust IV files China AI ETF summary prospectus at 0.86%

China AI ETF —AICH is Tidal Trust IV's second China artificial-intelligence series off the August registration that listed China AI Tigers LLM ETF —TGRZ on Nasdaq on Wednesday, August 26. Both are actively managed, with Tidal Investments LLC as adviser and EMQQ Global LLC as sub-adviser. The summary prospectus's fee table sets a management fee of 0.86% of average daily net assets, the same rate as —TGRZ. The paper names The Nasdaq Stock Market as the listing exchange. The fund has not commenced operations.

—TGRZ closed its first session at $21.42. On Monday it closed at $14.90, down 2.98%, against a year high of $23.59. The fund holds $798,570 in assets.

China AI ETF seeks long-term capital appreciation. Under normal circumstances it will keep at least 80% of net assets, plus borrowings, in equity securities and derivatives of companies located in China or economically tied to China that derive significant revenues, profits, assets, or business exposure from artificial intelligence. Derivatives count toward that test at notional value. China, in the paper, includes the People's Republic, Hong Kong, and Macau.

The filing's Variable Interest Equity Investment Risk heading states that many Chinese-based operating companies raise capital on exchanges outside China, including in the United States, through variable-interest-entity structures.

The paper also flags Newer Sub-Adviser Risk: EMQQ Global is a recently formed entity with only limited experience managing a 1940 Act ETF, so there is no long-term track record against which to judge its effectiveness. The next fact for this pair is whether —AICH begins trading beside —TGRZ.