Hoya Capital Real Estate LLC

ITEM 5 - FEES AND COMPENSATION

A. Advisory Fees

ETF Fees

Generally, pursuant to an advisory agreement between Hoya Capital and the ETF Trust, the ETF pays
Hoya Capital an advisory fee which is calculated daily and paid monthly, based on its average daily
assets.

For the services it provides to the Hoya Capital Housing ETF, the Fund pays the Adviser a unified
management fee, which is calculated daily and paid monthly, at an annual rate of 0.30% based on a
percentage of the Fund’s average daily net assets. For the services it provides to the Hoya Capital High
Dividend Yield ETF, the Fund pays the Adviser a unified management fee, which is calculated daily and
paid monthly, at an annual rate of 0.50% based on a percentage of the Fund’s average daily net
assets. The Adviser agreed to a contractual 0.25% fee waiver on RIET through 9/30/2022.

Part 2A of Form ADV: Firm Brochure                                         Hoya Capital Real Estate, LLC.
                                                                              Effective Date: March 26, 2026

For ETFs that Hoya Capital advises, investors should review the prospectus and Statement of Additional
Information before investing for more details about Hoya Capital’s compensation.

Individual Account Portfolio Management Fees

Our annual fees to implement investment recommendations on a fee-only basis for portfolio
management services and investment advisory services for Individual Accounts are based upon a
percentage of assets under management.

The management fee and schedule is negotiated between each client and may be higher or lower as well
as have a modified billing schedule based on the scope and or complexity of responsibilities. Generally,
the annualized fee for Portfolio Management Services is charged as a percent of assets under
management in the schedule below.

The client’s annual investment management fee will be calculated and paid quarterly, in arrears based
on the ending net asset value of the client account on the last day of each fiscal quarter. Market value
will be determined by the client’s custodian. Because the custodian calculates the net asset value of the
account, it is important for clients to carefully review their custodial statements to verify the accuracy
of the calculation, among other things. Clients should contact us directly if they believe that there may
be an error in their periodic statements they receive directly from their custodians.

For the initial calendar quarter, fees will be adjusted pro rata based upon the number of calendar days in
the calendar quarter that the advisory agreement was effective. Fees are earned as of the commencement
of the investment advisory agreement and are prorated when the assets were not managed for the entire
initial quarter.

In order to minimize conflict of interest, for individual accounts that Hoya Capital manages, Hoya
Capital will not charge an advisory fee on clients’ assets that are invested in ETFs wherein Hoya Capital
also serves as Advisor. Details of the investment management fee charged are more fully described in
the advisory agreement entered into with each client.

B. Payment Method

Part 2A of Form ADV: Firm Brochure                                         Hoya Capital Real Estate, LLC.
                                                                              Effective Date: March 26, 2026

Both Hoya Capital’s investment advisory agreement and the custodial agreements from Charles Schwab
(“Schwab”) and Interactive Brokers (“IB”), registered broker-dealers, members of SIPC, may authorize
Schwab or IB to debit the clients account for the amount of Hoya Capital’s management fee and to
directly remit that management fee to Hoya Capital in accordance with required SEC procedures. The
investment advisory agreement between Hoya Capital and the client will continue in effect until
terminated by either party by written notice. Hoya Capital’s investment management fee shall be pro-
rated through the date of termination, and any remaining balance (if any) shall be promptly refunded to
the client.

In addition to our investment management fee, the client will also pay transaction fees charged by the
custodian and may be required to pay additional transaction charges to the custodian. Please see Item 12
- Brokerage Practices - and the ETF Fee section below for other possible fees.

C. Additional Information

Limited Negotiability of Advisory Fees

Although Hoya Capital has established the aforementioned fee schedule(s), Hoya Capital retains the
discretion to negotiate alternative fees on a client-by-client basis. Client facts, circumstances and needs
are considered in determining the fee. These include the complexity of the client, assets to be placed
under management, anticipated future additional assets, related accounts, portfolio style, account
composition, reports, and family relationship among other factors. The specific annual fee is identified
in the contract between Hoya Capital and the client. Hoya Capital may group certain related client
accounts for the purposes of achieving the minimum account size requirements and determining the
appropriate fee.

Fee Only

Apart from advisor fees paid to Hoya Capital by the Hoya Capital Housing ETF and Hoya Capital High
Dividend Yield ETF, Hoya Capital is compensated solely by fees paid by its clients and does not accept
commissions or compensation from any other source (i.e., mutual funds, insurance products or any other
investment product).

ETF & Mutual Fund Fees

All fees paid to Hoya Capital for investment advisory services are separate and distinct from the fees
and expenses charged by mutual funds and/or ETFs to their shareholders. Any non-related fund fees and
expenses are described in each fund's prospectus. These fees will generally include a management fee,
other fund expenses, and a possible distribution fee. If the fund also imposes sales charges, a client may
...

ITEM 7- TYPES OF CLIENTS

A. Clients

Hoya Capital provides investment management services to:

    •   ETFs
    •   Institutions
    •   Individuals Taxable and Tax Exempt Accounts (Including High Net Worth Individuals)
    •   Pension Plans
    •   Profit Sharing Plans
    •   401k Plans
    •   Trusts
    •   Foundations
    •   Corporations or other businesses
B. Engaging the Services of Hoya Capital

All clients wishing to engage Hoya Capital for investment advisory services must sign an investment
management agreement that governs the relationship with Hoya Capital. The investment management
agreement is written in plain English and describes the services and responsibilities of Hoya Capital to
the client. It also outlines Hoya Capital’s fee in detail. Hoya Capital also provides this brochure (ADV
Part 2A) and a Client Relationship Summary (ADV Part 3). This information can also be found on the
SEC website linked here.

In addition to completing Hoya Capital’s internal documents (e.g., investment management agreement,
client questionnaire), clients must complete certain broker-dealer/custodial documentation. Upon
completion of these documents and broker approval of the account, Hoya Capital will be considered
engaged by the client. A client has an ongoing responsibility for ensuring that Hoya Capital is informed
in a timely manner of changes in the client’s investment objectives and risk tolerance.
C. Conditions for Managing Individual Accounts

Non-institutional clients are required to have a minimum account size of $1,000,000 for investment
management services, although Hoya Capital retains the right to reduce or waive this minimum account
size. Accounts of less than $1,000,000 may be set up when the client and Hoya Capital anticipates that
the client will add additional funds to the accounts bringing the total to $1,000,000 within a reasonable
time. Other exceptions will apply to related accounts of existing clients.