SPA MARKETGRADER 40 FUND
SPA MARKETGRADER 100 FUND
SPA MARKETGRADER 200 FUND
SPA MARKETGRADER SMALL CAP 100 FUND
SPA MARKETGRADER MID CAP 100 FUND
SPA MARKETGRADER LARGE CAP 100 FUND
SUPPLEMENT TO THE CURRENTLY EFFECTIVE PROSPECTUS FOR THE ABOVE LISTED FUNDS:
SPA ETF, Inc., the Trust’s investment adviser, announced today
that it would close the SPA MarketGrader 40 Fund, SPA MarketGrader 100 Fund,
SPA MarketGrader 200 Fund, SPA MarketGrader Small Cap 100 Fund, SPA
MarketGrader Mid Cap 100 Fund and SPA MarketGrader Large Cap 100 Fund
(collectively, the “Funds”) to new investment on March 25, 2009. The Funds
will be liquidated on March 30, 2009. Shareholders of record remaining on March 30,
2009 will receive cash at the net asset value of their shares as of March 30,
2009 which will include any capital gains and dividends as of this date. As part of an ongoing business review, the
Funds’ Board of Trustees determined that closing the Funds was in the best
interests of the Funds and the Funds’ shareholders.
March 25, 2009 will be the last day of trading in the Funds on NYSE
Arca, Inc. (“NYSE Arca”). NYSE Arca will halt trading in the Funds before
the open of trading on March 26, 2009. From March 26, 2009 through March 30,
2009, the Funds will be in the process of closing down and liquidating their
portfolios. This process will result in the Funds not tracking their underlying
indexes and their cash holdings increasing, which may not be consistent with
the Funds’ investment objectives and strategies.
Shareholders may sell their holdings prior to March 25, 2009,
incurring a transaction fee from their broker-dealer. From March 26, 2009
through March 30, 2009, shareholders may be able to sell their shares to
certain broker-dealers, but there can be no assurance that there will be a
market for the Funds. All shareholders
remaining on March 30, 2009 will receive cash at the net asset value of
their shares as of March 30, 2009 which will include any capital gains and
dividends into the cash portion of their brokerage accounts. The cash proceeds will be payable on or after
March 31, 2009.
Shareholders can call (212) 663-1595 for additional information.
SPA ETF TRUST
Tower 49
12 East 49th Street
New York, New York 10017
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
March 16, 2009