Disclaimers

Investors should carefully consider the investment objectives and risks as well as charges and expenses of the Clough Hedged Equity ETF and Clough Select Equity ETF (each a ETF and collectively, the “Clough Capital ETFs” or the “ETFs”), which are managed by Clough Capital Partners L.P. ("Clough Capital" or the “Firm”), before investing. This and other information are contained in the ETFs’ prospectuses, which may be obtained by clicking here. The prospectus should be read carefully before investing.

An investment in the ETFs is subject to risks and you can lose money on your investment in a Clough Capital ETF. There can be no assurance that the ETFs will achieve their investment objectives. Clough Capital ETFs are more volatile than broad market averages. Clough Capital ETFs also have specific risks, which are described in the ETFs’ prospectuses.

Shares of the ETFs may be bought or sold throughout the day at their market price on the exchange on which they are listed. The market price of a ETF’s shares may be at, above or below a ETF’s net asset value ("NAV") and will fluctuate with changes in the NAV as well as supply and demand in the market for the shares. The market price of a ETF’s shares may differ significantly from their NAV during periods of market volatility. Shares of the ETFs may only be redeemed directly at NAV by Authorized Participants, in very large creation units. There can be no guarantee that an active trading market for the ETFs’ shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling shares of the ETFs on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

Risk Factors

Short selling involves the sale of securities borrowed from a third party. The short seller profits if the borrowed security’s price declines. If a shorted security increases in value, a higher price must be paid to buy the stock back to cover the short sale, resulting in a loss. The Clough Capital ETFs may incur expenses related to short selling, including compensation, interest or dividends, and transaction costs payable to the security lender, whether the price of the shorted security increases or decreases. The amount the Clough Capital ETFs could lose on a short sale is theoretically unlimited. Short selling also involves counterparty risk – the risk associated with the third-party ceasing operations or failing to sell the security back.

Hedging Risk. Options used by the ETFs to reduce volatility and generate returns may not perform as intended. There can be no assurance that the ETF’s option strategy will be effective. It may expose the ETF to losses, e.g., option premiums, to which it would not have otherwise been exposed. Further, the option strategy may not fully protect the ETF against declines in the value of its portfolio securities.

The Clough Capital ETFs are distributed by Vigilant Distributors, LLC. Clough Capital Partners L.P. is not affiliated with Vigilant Distributors, LLC.

Clough Capital is a registered investment adviser with the Securities Exchange Commission (“SEC”) and has been in business since 1999. Registration with the SEC does not imply their approval or endorsement of any service provided by Clough Capital.

The information on this website is based on the views of Clough Capital. Other organizations or persons may analyze investments and the approach to investing from a different perspective than that reflected on this website. Clough Capital is unable to represent, guarantee, or even imply that our services and methods of analysis can or will predict future results, successfully identify market tops or bottoms, or insulate you from losses due to market corrections or declines.

Nothing on this website is to be considered investment advice and is not to be relied upon as the basis for entering into any transaction or advisory relationship or making any investment decision. All investments involve the risk of loss, including the loss of principal. The website includes data, graphs, charts, or other material reflecting the performance of a security, an index, an investment vehicle, a composite or other instrument over time. Past performance is not an indication of future results.

Performance

Gross performance is defined as the performance results of a portfolio before the deduction of all fees and expenses. Net performance is defined as the performance results of a portfolio after the deduction of all fees and expenses that a client or investor has paid or would have paid in connection with the adviser’s services to the relevant portfolio, including, if applicable, advisory fees, advisory fees paid to underlying investment vehicles, and payments by the investment adviser for which the client or investor reimburses the investment adviser. Custodian fees paid to a bank or other third-party organization for safekeeping ETFs and securities may be excluded from the calculation of net performance. Actual client portfolios are subject to the deduction of various fees and expenses which would lower returns. Advisory fees charged to Clough Capital clients, whether directly or indirectly through an ETF, are described in Clough Capital's Form ADV Part 2 and Part 3 available at https://adviserinfo.sec.gov/firm/summary/131257.

This website includes historical performance information from various stock market indices. Market performance information is included on this site solely to demonstrate the potential benefits historically associated with diversification of asset classes and does not represent or suggest results Clough Capital would or may have achieved when managing client portfolios. Investors cannot invest in a market index directly, and the performance of an index does not represent any actual ETF performance. The performance of an index does not include the deduction of various fees and expenses which would lower returns. Historical stock market information is obtained from U.S. Bank.

© 2023 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Performance information presented was obtained from Morningstar Direct. Morningstar's calculation of total return is determined by taking the change in price, reinvesting, if applicable, all income and capital gains distributions during the period, and dividing by the starting price. Unless otherwise noted, Morningstar does not adjust total returns for sales charges (such as front-end loads, deferred loads, and redemption fees), preferring to give a clearer picture of performance. Total returns do account for the expense ratio, which includes management, administrative, 12b-1 fees, and other costs that are taken out of assets. Total returns for periods longer than one year are expressed in terms of compounded average annual returns (also known as geometric total returns), affording a more meaningful picture of ETF performance than nonannualized figures. The ETFs managed by Clough Capital do not charge any loads, nor do they have redemption fees. In this instance, total return would equate to net return.

Morningstar Category Averages are designed to represent the average return of ETFs within their category over time. Morningstar creates a category average daily total return index series, as well as monthly, quarterly, and annual averages of return and non-return data. Morningstar Category Averages are equal-weighted category returns. The calculation is simply the average of the returns for all the ETFs in a given category. The standard average calculation is based on constituents of the category at the end of the period. The Morningstar Small Growth Category includes ETFs that invest in companies projected to grow faster than other small-cap stocks. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small-cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value and cash flow) and high valuations (high price ratios and low dividend yields). The ETF was categorized in the Morningstar Category of Small Growth ETFs by Morningstar. Morningstar assigns categories based on ETFs’ average holdings statistics over the past three years. When necessary, Morningstar may change a category assignment based on recent changes to the portfolio.

For each ETF with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a ETF’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of ETFs in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one ETF within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating™ for a ETF is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating™ metrics.

For information on Clough Capital's proxy voting record, please contact 617-204-3400

All statements made regarding companies, securities or other financial information on this site are strictly the beliefs and points of view held by Clough Capital and are subject to change without notice. Certain information on this site was obtained from sources that Clough Capital believes to be reliable; however, Clough Capital does not guarantee the accuracy or completeness of any information obtained from any third party. The information on this site is for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy, or investment product. The information on this site is general in nature and should not be considered legal or tax advice. An investor should consult a financial professional, an attorney, or tax professional regarding the investor’s specific situation.

Certain hyperlinks or referenced websites on this site may, for your convenience, forward you to third parties' websites, which generally are recognized by their top-level domain name. Any descriptions of, references to, or links to other products, publications or services do not constitute an endorsement, authorization, sponsorship, or affiliation with Clough Capital with respect to any linked site or its sponsor, unless expressly stated by Clough Capital. Any such information, products or sites have not necessarily been reviewed by Clough Capital and are provided or maintained by third parties over whom Clough Capital exercises no control. Clough Capital expressly disclaims any responsibility for the content, the accuracy of the information, and/or the quality of products or services provided by or advertised on these third-party sites. Clough Capital reserves the right to terminate any hyperlink or hyperlinking program at any time. Clough Capital is the investment adviser to the Clough Capital ETFs.

Investment products offered are: Not FDIC Insured – No Bank Guarantee – May Lose Value


Social Media Disclosures

Clough Capital published content on LinkedIn and X (fka Twitter) is not an offer to sell or a solicitation of an offer to buy shares of any Clough Capital investment product, including the Clough Capital ETFs. All content that is published on these platforms is for entertainment, educational and informational purposes only. We do not provide any sort of investment advice or recommendations to invest in any investment product on social media, or anywhere else, for that matter.

Do not publish or send us any personal or confidential information via our social media platforms, especially not your account information, security questions. or personally identifying information. For questions, please contact us at (617) 204-3400.

Comments on all of our social media platforms are moderated and reviewed for regulatory reasons. We reserve the right to remove or delete any comments, for any reason, including but not limited to: spam; harsh language; promotions for any type of business; messages that are not relevant to Clough Capital; the Clough Capital ETFs’ shareholders or audiences; testimonials; recommendations about specific securities or products; or investment advice.

Clough Capital is not affiliated with any of these social media platforms, nor are we responsible for the privacy policies of any social media network on which Clough Capital or the Clough Capital ETFs content is displayed. Comments posted by others on our social media pages are not adopted or endorsed by Clough Capital or the Clough Capital ETFs and don’t reflect the views of Clough Capital or its employees. We reserve the right to change our terms of social media use and comment moderation policies at any time.


WEBSITE PRIVACY POLICY

Effective as of October 1, 2020

Clough Capital and the investment ETFs for which it serves as investment manager may collect nonpublic information, including “personal data” as defined under applicable European Data Privacy Laws (defined below), of the Firm’s clients or prospective clients. This Website Privacy Policy (the “Policy”) applies to the processing of personal information that may be collected through this website (the “Site”). The Firm maintains a strong commitment to the importance of protecting data privacy, and to taking the appropriate steps to seek to ensure that any nonpublic information or personal data collected from any of our clients or prospective clients through this Site is protected in compliance with applicable data protection laws in the jurisdictions in which we operate or where our clients or prospective clients are located.

For European residents, this Policy describes the basis on which we process personal data and for what purposes, a summary of the privacy rights under applicable European privacy laws, including the General Data Protection Regulation, and other UK and European data privacy laws (collectively, the “European Data Privacy Laws”) and how we protect personal data privacy.

For the purposes of the European Data Privacy Laws, the Firm is the data controller in relation to the processing activities described herein. This means that the Firm decides why and how any personal data is used. All personal data provided to us by clients or prospective clients located within the European Economic Area (the “EEA”) may be retained in the United States, processed in the United States by the Firm or its agents, and may also be transferred to other countries outside the EEA. Not all countries have similar data protection laws to those of the EEA, and even countries that do have data protection laws may have less robust provisions than those of the EEA.

Certain information collected by the Firm may be “nonpublic personal information” or “NPI” and, as such, subject to Regulation S-P. For more information on how we collect, use and share NPI, please see the Firm’s Privacy Notice, available by calling the Firm at 617-204-3400. Such a Privacy Notice and the practices described therein are applicable to individuals only and are subject to change.

In addition, the Firm may, with consent if legally required under the European Data Privacy Rights, process personal information in order to communicate with the customers for marketing purposes. In this event, the Firm may provide additional information to clients or prospective clients that it believes may be of interest, including about services, news updates, research or market commentary, conferences, or events offered by or in conjunction with the Firm. A client/relevant individual whose email address is used for such communications has the right to unsubscribe by contacting the Firm or by following the instructions in any such communication, e.g., by clicking on an embedded link to unsubscribe.

Site Data Collection:

When someone visits our Site from their computer, mobile phone, tablet, or other device, we may collect certain information from them, including their Internet Protocol (“IP”) address, media access control (“MAC”) address, browser type, operating system, device-identifying information, the specific web pages visited during the connection, and the domain name from which they accessed the Site. In addition, we may collect information about browsing activity on our Site, such as the date and time they visit the Site, the areas, or pages of the Site that they visit, the amount of time they spend viewing the Site, the number of times they return to the Site and other clickstream data. We may also use non-personal or aggregated information for statistical analysis, research, and other purposes.

The Firm may also collect information about you when you access the Site if you voluntarily choose to send electronic mail to the Firm, request information, or ask to be contacted. The Firm may use this information to provide you with updated information about the products and services we offer. Certain employees of the Firm may be given the information you provide in order to respond to your requests. Employees of the Firm are required to handle any personal information you provide confidentially.

Our Site may also use “cookies” and “web beacons” (such as Google Analytics, for example) to collect, store and aggregate data about usage and browsing patterns. With respect to web analytics, we may use cookies and web beacons for session management and to analyze site usage; we do not use cookies and web beacons to store any personally identifiable information about you. A “cookie” is a small text file containing a random and unique alphanumeric identifier that we transfer to your computer’s hard drive through your web browser (unless you set your browser to reject cookies) that enables our systems to recognize your browser. A “web beacon” (also known as a “page tag,” “data tag” or “image tag”) is a mechanism by which a small section of code that is embedded in our Site pages allows us to check that a user has viewed the page. These technologies can help us analyze and better understand how our Site is being used and improve the user experience. A person browsing the internet may adjust their browser settings to reject cookies, or they can manually delete individual cookies or all of the cookies on their computer or other device, by following their browser’s help file directions. However, if their browser is set to reject cookies or they manually delete cookies, they may have some trouble accessing and using some of the pages and features that are currently on our Site, or that we may put on our Site in the future. Note that browser-management tools for cookies are outside of our control and we cannot guarantee their effectiveness.

We may work with service providers that help us track, collect, and analyze information gathered through cookies or web beacons. We may also combine the information we collect through cookies and web beacons with other information we have collected from clients or information from other sources. We only use such information to evaluate usage of the Site and improve performance and customer services, as well as to protect the security and integrity of the Site and our business, such as preventing fraud, hacking, and other criminal activity or to meet legal obligations. We only share such information with our service providers to perform a business, professional or technical support function for us.

Sharing of personal information:

Like other financial companies, the Firm needs to share some of our clients’ information to run our business. The Firm may disclose personal information to its affiliated entities and brokers, banks, agents, employees, and third parties who need to know that information in order to perform services on the clients’ behalf or in connection with the services provided to such clients, and to other third parties, including (but not limited to) the following types of third parties:

  • Financial service providers, such as the Firm’s (or its clients’) administrators, prime brokers, registered broker/dealers, auditors, regulators, and transfer agents in order to service customer accounts and/or who assist the Firm as part of the ordinary course of servicing clients’ investments or providing any other services to clients;
  • Legal representatives of the Firm, such as our counsel, accountants, and auditors;
  • Third parties who may perform marketing services for the Firm or with whom we have entered into marketing arrangements for services or information about services that clients may request;
  • Other service providers; and/or
  • Parties to a dispute or litigation, and their representatives and advisors, regulatory or governmental authorities, or otherwise as permitted by law.

The Firm will exercise appropriate due diligence in the selection of its third-party service providers, including with respect to their maintenance of adequate technical and organizational security measures to safeguard personal information.

The Firm may also disclose personal information to governmental authorities as required or permitted by law; public and private social security and insurance agencies; consultants in connection with business operations; to business partners, agents, and customers; external consultants and professionals; courts and other dispute forums. This personal information will be disclosed to such third parties only as necessary in connection with the performance of contracts, the Firm’s business activities and the purposes listed above or as otherwise authorized, required, or permitted by law. The Firm may continue to maintain and share information about its clients and/or the investors therein even after they are no longer clients or investors.

In addition, to comply with Massachusetts Data Security Regulation and other applicable laws, the Firm has developed a process to ensure confidentiality and integrity of personal information maintained by the Firm and its administrators that could create the risk of identity theft or fraud against a resident of the Commonwealth of Massachusetts and have codified the policies and procedures in writing.

Your California Privacy Rights:

The Firm complies with the California Consumer Privacy Act of 2018 (“CCPA”) by providing California residents with the following rights with respect to their personal information:

  • The right to know what personal information the Firm has collected, used, disclosed, and sold. To submit a request to know, California residents may call the Firm at 617-204-3400. California residents may also designate an authorized agent to make a request for access on their behalf by calling the Firm at 617-204-3400.

  • The right to request that the Firm delete any personal information it has collected. To submit a request for deletion, California residents may call the Firm at 617-204-3400. California residents may also designate an authorized agent to make a request for deletion on their behalf by calling the Firm at 617-204-3400.

When California residents exercise these rights and submit a request, the Firm will verify their identity by asking them for their email address, telephone number, and/or information about their account with the Firm. The Firm will endeavor to honor customers’ requests unless such a request conflicts with certain lawful exemptions under the CCPA. Please note that the Firm is only required to honor such requests twice in a twelve (12) month-long period.

Any exercise of these rights will have no adverse effect on the price and quality of the Firm’s services.

For the twelve (12) month-long period prior to the date of this Privacy Notice, the Firm has not sold any personal information about its customers; nor does it have any plans to do so in the future.

Your European Privacy Rights:

Where the European Data Privacy Laws apply, the relevant individual whose personal data is processed by the Firm has certain rights relating to their personal data in accordance with and subject to the European Data Privacy Laws including to: (i) check whether the Firm holds personal data about them and to access such personal data; (ii) request the correction of personal data that is inaccurate; (iii) have a copy of the personal data provided to another data controller (as defined under the European Data Privacy Laws) where technically feasible; (iv) request the erasure of the personal data; and (v) request the restriction of processing the personal data. To exercise any of these rights, customers should send the request to the email below. The Firm retains personal data for a period of at least six (6) years from the date on which the relevant business relationship, for which purpose such personal data was provided, has ended.

We may change this Policy from time to time, including as necessary to keep current with rules and regulations, new technologies and security standards. When we do, we will post the change(s) on our Site. Please visit our Site periodically to review this Policy, so as to ensure that you have access to the most current version. Please do not hesitate to contact us at (617) 204-3400 with any questions about this Policy.

These terms and conditions are between you and Clough Capital Partners L.P. (“we,” or “us” and "Clough Capital"), and they apply to and govern your use of the Clough Capital website, located at https://cloughetfs.com (the “Site”). Your use of the Site signifies your agreement to be bound by these terms and conditions. If you do not agree to be bound by these terms and conditions of use, you may not access or otherwise use the Site. Clough Capital may periodically change these terms and conditions, and any such changes will be effective immediately upon posting. We suggest that you periodically check these terms and conditions for changes. You may contact Clough Capital by email with questions about the terms and conditions of this User Agreement. Click here to Contact Us.


LIMITED LICENSE AND RESTRICTIONS ON USE

Clough Capital grants you a revocable, non-exclusive, non-transferable, limited right to access, use, display, and print the pages within the Site and the materials thereon for your personal and informational use only, provided that you comply fully with these terms and conditions of use, as well as any other rules, procedures, policies, terms, or conditions that govern all or any portion of the Site. At any time, and for any reason, we may revoke your right to use all or any portion of the Site. You shall not:

  • modify, delete, copy, reproduce, repackage, publish, broadcast, license, transmit, distribute, display, perform, redeliver, frame, create derivative works from, participate in the transfer or sale of, post on the Web, or exploit the Site, or any portions thereof, including, without limitation, any text, images, articles, photographs, illustrations, audio, video clips, graphics, interface information, data, tools, products, and other content or other materials on, generated by, or obtained from the Site (together, “”Content””), without our express written permission;
  • violate or attempt to violate the security of the Site in any way through any means or device, including, without limitation, spamming, hacking, or uploading computer viruses or time bombs, or through the means expressly prohibited by any provision of these terms and conditions of use;
  • use any automated means, including, without limitation, agents, robots, scripts, or spiders, to access, monitor, copy, or harvest data from any part of the Site;
  • take any action that damages or disrupts the functioning of the Site or our systems, or that imposes an unreasonably or disproportionately large load on our infrastructure;
  • decompose, decompile, reverse-engineer, disassemble, or otherwise deconstruct all or any portion of the Site; or
  • remove any copyright, trademark, or other proprietary notice or legend contained on (or printed from) the Site.

OWNERSHIP AND INTELLECTUAL PROPERTY POLICY

Clough Capital owns, controls, licenses, or has the right to use and provide the Site and all Content on the Site. The Site is protected by copyright as a collective work and/or compilation, pursuant to U.S. copyright laws, international conventions, and other copyright laws. We own the copyright in the entire Site, including a copyright in the selection, coordination, arrangement, and enhancement of the Site. You agree to abide by any and all copyright notices, information, or restrictions displayed on the Site. The Site may also contain trademarks or service marks that are owned by Clough Capital, and you may not use any such marks without our written permission.


INFORMATION AND CONTENT

All content is for informational purposes only. Nothing on the Site is an offer or solicitation to buy or sell any security or other similar product. Although the Site may include investment-related information, nothing on the Site is a recommendation that you purchase, sell, or hold any security or other investment, or that you pursue any investment style or strategy. You will use the Content at your own risk and bear the sole responsibility of evaluating the merits and risks associated with the use of any Content on this Site before making any decisions based on such Content. We do not give any advice or make any representations through the Site as to whether any security or investment is suitable to you or will be profitable. Nothing on the Site is intended to be, and you should not consider anything on the Site to be, investment, accounting, tax, or legal advice. Dated Content speaks only as of the date indicated or published. We make reasonable efforts to provide accurate Content, but at times we may not promptly update or correct the Site even if we are aware that it is inaccurate, outdated, or otherwise inappropriate. You agree that we are not liable for any action you take or decision you make in reliance on any Content. THE PAST PERFORMANCE OF ANY INVESTMENT, INVESTMENT STRATEGY, OR INVESTMENT STYLE IS NOT INDICATIVE OF FUTURE PERFORMANCE.


CHANGES TO SITE

We may change all or any portion of the Site at any time without notice to you.


UNAVAILABILITY OF THE SITE

Clough Capital is not liable for any technological problems and any impact that it may have. All or any portion of the Site may not be available and may not function properly at any time. We make reasonable efforts to avoid technological problems, but at any time the Site may have and may cause technological problems, such as viruses and other damaging computer programming routines or engines. We take reasonable security precautions when using the Internet, telephone, or other means to transport data or other communications, but we disclaim liability for any interception of data or communications. We make reasonable efforts to ensure that the Site is secure, but we do not guarantee the security of the Site. We are not liable for any defects, delays, or errors in or resulting from your use of the Site.


WARRANTY DISCLAIMERS

CLOUGH CAPITAL DISCLAIMS ALL WARRANTIES WITH RESPECT TO THE SITE THAT THE LAW ALLOWS IT TO DISCLAIM. THE SITE, INCLUDING, WITHOUT LIMITATION, ALL CONTENT, IS PROVIDED “”AS IS”” AND “”AS AVAILABLE”” WITHOUT ANY REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED, OF ANY KIND WITH RESPECT TO THE SITE INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY AND OTHER PROPRIETARY RIGHTS. WITHOUT LIMITING OUR GENERAL DISCLAIMER, WE DO NOT WARRANT THE SECURITY, AVAILABILITY, ACCURACY, COMPLETENESS, TIMELINESS, FUNCTIONALITY, RELIABILITY, SEQUENCING, OR SPEED OF DELIVERY OF THE SITE OR ANY PART OF THE CONTENT.


LIABILITY AND INDEMNITY

CLOUGH CAPITAL’S LIABILITY WITH RESPECT TO THE SITE IS LIMITED TO THE MAXIMUM EXTENT PERMITTED BY LAW. IN NO EVENT WILL WE OR ANY OF OUR AFFILIATES, AGENTS, OR EMPLOYEES BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES HOWEVER CAUSED ARISING OUT OF THESE TERMS AND CONDITIONS, THE SITE, OR THE INABILITY TO USE THE SITE, EVEN IF WE, OR AN AUTHORIZED REPRESENTATIVE, HAVE BEEN ADVISED OF THE POSSIBILITY OF THE DAMAGES THAT YOU SUFFER OR IF ANY REMEDY YOU HAVE FAILS OF ITS ESSENTIAL PURPOSE. SOME STATES DONOT ALLOW THE EXCLUSION OR LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES, SOTHE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU.

YOU WILL BE RESPONSIBLE FOR ANY LIABILITY TO CLOUGH CAPITAL THAT ARISES OUT OF YOUR BREACH OF THIS USER AGREEMENT OR YOUR USE OF THE SITE. YOU AGREE TO INDEMNIFY CLOUGH CAPITAL ETFs AND ITS AFFILIATES, AGENTS, EMPLOYEES, AND THIRD-PARTY SOURCES AGAINST ANY AND ALL SUITS, LOSSES, CLAIMS, DEMANDS, LIABILITIES, DAMAGES, COSTS, AND EXPENSES (INCLUDING REASONABLE ATTORNEYS’ FEES) THAT ARISE FROM OR RELATE TO YOUR USE OF THE SITE; YOUR BREACH OF THESE TERMS AND CONDITIONS; YOUR VIOLATION OF ANY APPLICABLE LAW, STATUTE, ORDINANCE, REGULATION, OR ANY THIRD PARTY’S RIGHTS; OR CLAIMS ASSERTED BY THIRD PARTIES WHICH, IF PROVEN, WOULD PLACE YOU IN BREACH OF THIS USER AGREEMENT.