Milliman Funds

Milliman leverages diverse expertise in actuarial science, healthcare, and finance to craft a wide array of investment options. These products are designed to meet the unique needs of various clients, including, insurance companies, health systems and providers, pension funds, and individual investors. By combining deep industry knowledge with cutting-edge financial modeling, Milliman delivers tailored solutions that aim to optimize returns and manage risk effectively.

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ETFs - Coming Soon

Exchange-Traded Funds

Separately Managed Accounts (SMAs)

Healthcare Investment Solutions
About Milliman Financial Risk Management LLC
Milliman Financial Risk Management LLC is a global leader in financial risk management to the retirement industry, providing investment advisory, hedging, and consulting services on approximately $229.2 billion in global assets (as of September 30th, 2025). With a specialty in options-based defined outcome funds, including buffer strategies, Milliman FRM is one of the largest and fastest-growing subadvisors of ETFs. For more information about Milliman FRM, visit https://frm.milliman.com/en/.
RISK DISCLOSURES

The fund has filed a registration statement with the Securities and Exchange Commission, but it is not yet effective. An investment in the fund cannot be made, nor money accepted, until the registration statement is effective. An investor should consider the investment objectives, risks, and charges and expenses of the fund carefully before investing. A preliminary prospectus which contains this and other information about the fund may be obtained by calling (312) 726 0677/visiting https://www.sec.gov/Archives/edgar/data/2096904/000199937125017934/mhig-n1a_111325.htm. The information in the preliminary prospectus is not complete and may be changed. The final prospectus should be read carefully before investing, and when available may be obtained from the same source. This communication is not an offer to sell fund shares and is not soliciting an offer to buy fund shares in any state where the offer or sale is not permitted.

Investing involves risk. Principal is possible.

The recipient should not construe any of the material contained herein as investment, hedging, trading, legal, regulatory, tax, accounting or other advice. The recipient should not act on any information in this document without consulting its investment, hedging, trading, legal, regulatory, tax, accounting and other advisors.

The products or services described or referenced herein may not be suitable or appropriate for the recipient. Many of the products and services described or referenced herein involve significan’t risks, and the recipient should not make any decision or enter into any transaction unless the recipient has fully understood all such risks and has independently determined that such decisions or transactions are appropriate for the recipient. Investment involves risks. Any discussion of risks contained herein with respect to any product or service should not be considered to be a disclosure of all risks or a complete discussion of the risks involved.

Milliman FRM is an SEC registered investment advisor (SEC#:801-73056) since 2012. You can find Milliman FRM’s ADV filings at https://adviserinfo.sec.gov/firm/summary/159377.

The Milliman Healthcare Inflation Guard ETF (MHIG) and the Milliman Healthcare Inflation Plus ETF (MHIP) will be distributed by Foreside Fund Services, LLC.