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SUMMARY SECTION
Investment
Objective
<p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_ztpbSbUiCeSd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Absolute Select ETF (the “Fund”)
seeks positive absolute returns.</p>
Fees
and Expenses of the Fund
<p id="xdx_A8B_eoef--ExpenseNarrativeTextBlock_zscgLdDyOPnh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This table describes the fees and expenses that
you may pay if you buy, hold, and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to
financial intermediaries which are not reflected in the table or Example below.</b></p>
Annual Fund Operating Expenses (expenses that
you pay each year as a percentage of the value of your investment)
<div id="xdx_A80_eoef--AnnualFundOperatingExpensesTableTextBlock_zMMUV4yaOFvf"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zrPjoT32UhZ8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="vertical-align: top">
<td style="text-align: justify"> </td>
<td id="xdx_49F_20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member__oef--ClassAxis__custom--C000215804Member_zxQWiV043tMc" style="padding-left: 3.15pt; text-align: center"> </td></tr>
<tr id="xdx_404_eoef--ManagementFeesOverAssets_dpn_zW7DU4zU7Cm6" style="vertical-align: top">
<td style="width: 89%; text-align: justify">Management Fees</td>
<td style="width: 11%; padding-left: 3.15pt; text-align: center">0.85%</td></tr>
<tr id="xdx_40B_eoef--OtherExpensesOverAssets_dpn_z9zjrvLcgJ6" style="vertical-align: top">
<td style="text-align: justify">Other Expenses</td>
<td style="padding-left: 3.15pt; text-align: center">0.21%</td></tr>
<tr id="xdx_40F_eoef--ExpensesOverAssets_dpn_zwVHT4qcVI33" style="vertical-align: top">
<td style="text-align: justify">Total Annual Fund Operating Expenses</td>
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 3.15pt; text-align: center">1.06%</td></tr>
<tr>
<td style="vertical-align: top; text-align: justify">Fee Waiver and/or Expense Reimbursement<sup>1</sup></td>
<td id="xdx_987_eoef--FeeWaiverOrReimbursementOverAssets_dp_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member__oef--ClassAxis__custom--C000215804Member_fMS0___zlI6wik6AVQf" style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-left: 1.65pt; text-align: center" title="Fee Waiver and/or Expense Reimbursement">(0.21)%</td></tr>
<tr id="xdx_405_eoef--NetExpensesOverAssets_dpn_zKJSXuvtgzL9">
<td style="vertical-align: top; text-align: left">Total Annual Fund Operating Expenses (After Fee Waiver and/or Expense Reimbursement)</td>
<td style="border-bottom: Black 1.5pt double; vertical-align: bottom; padding-left: 3.15pt; text-align: center">0.85%</td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 4.4pt">
<tr style="vertical-align: top">
<td style="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 25pt"><span id="xdx_F0B_zPR27p5FNfTe">1-</span></td>
<td style="text-align: justify; padding-left: 10pt"><span id="xdx_F17_zMpihDHFi4m7">The Fund’s adviser, Absolute Investment Advisers, LLC (the “Adviser”), has contractually agreed to waive its management
fee and/or reimburse the Fund’s other expenses in order to limit total annual Fund operating expenses to 0.85% of the average daily
net assets of the Fund through <span id="xdx_90A_eoef--FeeWaiverOrReimbursementOverAssetsDateOfTermination_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zEA1tjwlpx7f">July
31, 2027</span></span> (excluding portfolio transaction and other investment-related costs (including brokerage fees and commissions);
taxes; borrowing costs (such as interest and dividend expenses on securities sold short); acquired fund fees and expenses; fees and expenses
associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap
fees and expenses); any amounts payable pursuant to a distribution or service plan adopted in accordance with Rule 12b-1 under the Investment
Company Act of 1940, as amended (the “1940 Act”); any administrative and/or shareholder servicing fees payable pursuant to
a plan adopted by the Board of Trustees (the “Board”); expenses incurred in connection with any merger or reorganization;
extraordinary expenses (such as litigation expenses, indemnification of Trust officers and Trustees and contractual indemnification of
Fund service providers); and other expenses that the Trustees agree have not been incurred in the ordinary course of the Fund’s
business). This expense cap may not be terminated prior to this date except by the Board upon sixty days’ written notice to the
Adviser. Each fee waiver/expense payment by the Adviser is subject to recoupment by the Adviser from the Fund in the three years following
the date the particular fee waiver/expense payment occurred, but only if such recoupment can be achieved without exceeding the annual
expense limitation in effect at the time of the fee waiver/expense payment and any expense limitation in effect at the time of the recoupment.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left"> </p>
0.0085
0.0021
0.0106
-0.0021
0.0085
July
31, 2027
Expense Example:
<p id="xdx_A87_eoef--ExpenseExampleNarrativeTextBlock_zPOyUzNupLe5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This Example is intended to help you compare the cost
of investing in the Fund with the cost of investing in other funds. <span id="xdx_90B_eoef--ExpenseExampleByYearCaption_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zmwXNfeYQBRd">The Example assumes that you invest $10,000 in the Fund for the time
periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a
5% return each year, the Fund’s operating expenses remain the same, and the expense reduction/reimbursement described above remains
in place for the contractual period only. Although your actual costs may be higher or lower, based on these assumptions your costs would
be:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
The Example assumes that you invest $10,000 in the Fund for the time
periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a
5% return each year, the Fund’s operating expenses remain the same, and the expense reduction/reimbursement described above remains
in place for the contractual period only. Although your actual costs may be higher or lower, based on these assumptions your costs would
be:
<div id="xdx_A81_eoef--ExpenseExampleWithRedemptionTableTextBlock_ztYeA4hkxUEj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A57_dU_z98pbNdVM4uc" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="vertical-align: top">
<td id="xdx_48A_eoef--ExpenseExampleYear01_zfzC7sMiCuS6" style="border-bottom: Black 1pt solid; width: 14%; padding-left: 1.75pt; text-align: center"><b>1 Year</b></td>
<td style="width: 16%; padding-left: 1.75pt; text-align: center"> </td>
<td id="xdx_486_eoef--ExpenseExampleYear03_zBDIPIhDUOgd" style="border-bottom: Black 1pt solid; width: 14%; padding-left: 1.75pt; text-align: center"><b>3 Years</b></td>
<td style="width: 14%; padding-left: 1.75pt; text-align: center"> </td>
<td id="xdx_48F_eoef--ExpenseExampleYear05_zjDTbOKsKcJk" style="border-bottom: Black 1pt solid; width: 14%; padding-left: 1.75pt; text-align: center"><b>5 Years</b></td>
<td style="width: 14%; padding-left: 1.75pt; text-align: center"> </td>
<td id="xdx_485_eoef--ExpenseExampleYear10_zY2biM00Ggs7" style="border-bottom: Black 1pt solid; width: 14%; padding-left: 1.75pt; text-align: center"><b>10 Years</b></td></tr>
<tr id="xdx_413_20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member__oef--ClassAxis__custom--C000215804Member_z7Y9IXy6yXRk" style="vertical-align: bottom">
<td style="padding-left: 1.75pt; text-align: center">$87</td>
<td style="padding-left: 1.75pt; text-align: center"> </td>
<td style="padding-left: 1.75pt; text-align: center">$316</td>
<td style="padding-left: 1.75pt; text-align: center"> </td>
<td style="padding-left: 1.75pt; text-align: center">$564</td>
<td style="padding-left: 1.75pt; text-align: center"> </td>
<td style="padding-left: 1.75pt; text-align: center">$1,275</td></tr>
</table>
87
316
564
1275
Portfolio Turnover
<p id="xdx_A8A_eoef--PortfolioTurnoverTextBlock_zNHZqMAcjoql" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund pays transaction costs, such as commissions,
when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction
costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual operating
expenses or in the Example above, affect the Fund’s performance. During the fiscal year ended March 31, 2026, the Fund’s portfolio
turnover rate was <span id="xdx_90C_eoef--PortfolioTurnoverRate_dp_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zsyHcEhuZaPh">38%</span> of the average value of its portfolio. The portfolio turnover rate excludes securities received or delivered from
in-kind processing of creations or redemptions.</p>
0.38
Principal
Investment Strategies
<p id="xdx_A8F_eoef--StrategyNarrativeTextBlock_zUnj2r8q7eb9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="a_Hlk21703788"></span>St. James Investment
Company, LLC, the Fund’s investment sub-adviser (the “Subadviser”), seeks to achieve the Fund’s objective by investing
primarily in equity securities of U.S. companies that the Subadviser believes are priced at a substantial discount to the Subadviser’s
estimate of fair value.<span id="a_Hlk44925296"></span> However, the Fund may invest in companies of any market capitalization and in any
economic sector, including equity securities of foreign companies that trade on U.S. exchanges, either directly or through American Depositary
Receipts (“ADRs”). The Subadviser, which actively manages the Fund, uses a five-stage process to identify, purchase, and sell
companies that it believes are fundamentally attractive and will yield positive absolute returns, <span id="a_Hlk20920559"></span>meaning
it seeks positive returns in all market conditions, over complete market cycles, net of fees and expenses, and not returns that outperform
a specific benchmark.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Subadviser expects that, because of its “bottom
up” approach to company analysis, from time to time, the Fund could be overweight in certain market sectors. The Subadviser’s
strategy is based on company by company analysis, not market sector analysis. The Fund is non-diversified, which means that it may invest
a greater percentage of its assets in fewer issuers than a diversified fund.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund may also invest all or substantially all
of its assets in cash and cash equivalents, including money market funds and other short-term fixed income investments, in seeking to
protect principal, or when, in the Subadviser’s opinion, there are not sufficient companies at valuations appropriate for investment.
As an alternative to holding cash or cash equivalents, the Subadviser may invest the Fund’s assets in shares of other investment
companies, including open-end and closed-end funds and ETFs (collectively, “Underlying Funds”) in order for the Fund to be
more fully invested.</p>
<p id="xdx_A84_eoef--RiskTextBlock_zUHhrinYTz56" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All investments involve risks, and the Fund cannot
guarantee that it will achieve its investment objective. <span id="xdx_903_eoef--RiskTextBlock_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member__oef--RiskAxis__oef--RiskNotInsuredMember_zNGzaJnaNGa6">An investment in the Fund is not insured or guaranteed by any government agency.</span>
<span id="xdx_909_eoef--RiskTextBlock_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member__oef--RiskAxis__oef--RiskLoseMoneyMember_zOCMhPpgCmW5">As with any mutual fund investment, the Fund’s returns and share price will fluctuate, and you may lose money by investing in the
Fund.</span></p>
An investment in the Fund is not insured or guaranteed by any government agency.
As with any mutual fund investment, the Fund’s returns and share price will fluctuate, and you may lose money by investing in the
Fund.
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<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Market and Geopolitical Risk. </b>The increasing interconnectivity between global economies and
financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in
a different country, region or financial market. Securities in the Fund’s portfolio may underperform due to inflation (or expectations
for inflation), interest rates, global demand for particular products or resources, natural disasters, climate change and climate-related
events, pandemics, epidemics, terrorism, tariffs and trade wars, international conflicts, regulatory events and governmental or quasi-governmental
actions. The occurrence of global events similar to those in recent years may result in market volatility and may have long term effects
on both the U.S. and global financial markets. It is not known how long such impacts, or any future impacts of other significant events
described above, will or would last, but there could be a prolonged period of global economic slowdown, which may impact your Fund investment.
Therefore, the Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged
market downturns. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and
interest rates can have the same impact on all types of securities and instruments. In times of severe market disruptions, you could lose
your entire investment.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Value Style Risk</b>. Investing in “value” stocks presents the risk that the stocks may
never reach what the Subadviser believes are their full market values, either because the market fails to recognize what the Subadviser
considers to be the companies’ true business values or because the Subadviser misjudged those values. In addition, value stocks
may fall out of favor with investors and underperform growth stocks during given periods.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Active Management Risk. </b>The Fund is actively-managed and is thus subject to management risk. The
Subadviser will apply its investment techniques and strategies in making investment decisions for the Fund, but there is no guarantee
that its techniques will produce the intended results.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Fluctuation of Net Asset Value Risk.</b> The net asset value (“NAV”) of the Fund’s
shares will generally fluctuate with changes in the market value of the Fund’s holdings. The market prices of the shares will generally
fluctuate in accordance with changes in NAV as well as the relative supply of and demand for the shares on the Exchange (as defined in
the “Purchase and Sale of Fund Shares” section of this Prospectus).</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in"><span id="a_Hlk20922064"></span><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Market Trading Risk.</b> The Fund faces numerous market trading risks, including the potential lack
of an active market for Fund shares, losses from trading in secondary markets, and periods of high volatility and disruption in the creation/redemption
process of the Fund. Any of these factors, among others, may lead to the Fund’s shares trading at a premium or discount to NAV.</td></tr></table>
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<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Authorized Participant Concentration Risk.</b> Only an Authorized Participant (as defined in the
“How to Buy and Sell Shares” section of this Prospectus) may engage in creation or redemption transactions directly with the
Fund. The Fund has a limited number of institutions that act as Authorized Participants. To the extent that these institutions exit the
business or are unable to proceed with creation and/or redemption orders with respect to the Fund and no other Authorized Participant
is able to step forward to create or redeem Creation Units (as defined in the “Purchase and Sale of Fund Shares” section of
this Prospectus), Fund shares may trade at a discount to NAV and possibly face trading halts and/or delisting.</td></tr></table>
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Company Risk.</b> The value of the Fund may decrease in response to the activities and financial prospects
of an individual company in the Fund’s portfolio. The value of an individual company can be more volatile than the market as a whole.</td></tr></table>
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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Sector Concentration Risk.</b> The Fund may focus its investments in securities of a particular
sector. Economic, legislative or regulatory
developments may occur that significantly affect the sector. This may cause the Fund’s NAV to fluctuate more than that of a fund
that does not focus in a particular sector.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.25in; text-align: justify"></p>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapCompanyRiskMember_z6ik6l3VeqN"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Large Cap Company Risk.</b> Larger, more established companies may be unable to attain the high growth
rates of successful, smaller companies during periods of economic expansion.</td></tr></table>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMediumCapCompanyRiskMember_zWVBmm25lhT6"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Small and Medium Cap Company Risk.</b> Securities of companies with small and medium market capitalizations
are often more volatile and less liquid than investments in larger companies. Small and medium cap companies may face a greater risk of
business failure, which could increase the volatility of the Fund’s portfolio.</td></tr></table>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zq9t3ovkD15b"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span id="a_Hlk532812913"></span><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Underlying Funds Risk.</b> When the Fund invests in an Underlying Fund, the Fund indirectly will
bear its proportionate share of any fees and expenses payable directly by the Underlying Fund. Therefore, the Fund will incur higher expenses,
many of which may be duplicative. In addition, the Fund may be affected by losses of the Underlying Funds and the level of risk arising
from the investment practices of the Underlying Funds (such as the use of leverage). ETFs and closed-end funds are subject to additional
risks, such as the fact that their shares may trade at a market price above or below their NAV or that an active market may not develop.
</td></tr></table>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MoneyMarketFundRisksMember_zrw3fqkxQESc"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Money Market Fund Risks.</b> When the Fund invests in an Underlying Fund, including a money market
fund, the Fund indirectly will bear its proportionate share of any fees and expenses payable directly by the Underlying Fund. Therefore,
the Fund will incur higher expenses, many of which may be duplicative. Although each underlying money market fund in which the Fund may
invest seeks to maintain the value of the investments at $1.00 per share, there is no assurance that the Underlying Fund will be able
to do so.</td></tr></table>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zc9Nb5yGPSob"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Equity Securities Risk.</b> The NAV of the Fund will fluctuate based on changes in the value of
the U.S. equity securities held by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or
industry, or to changing economic, political or market conditions.</td></tr></table>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignCompanyRiskMember_zGdcayUNevSl"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Foreign Company Risk.</b> Investing in foreign companies may involve risks not associated with equity
investments in U.S. companies, including currency fluctuation, inflation, local withholding and other taxes, different financial reporting
practices and regulatory standards, changes in political conditions, nationalization, expropriation, and investment and repatriation restrictions.
The Fund may lose money due to political, security, economic and geographic events affecting issuers of non-U.S. companies.</td></tr></table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Courier New, Courier, Monospace">o</span></td><td style="text-align: justify"><i>Depositary Receipt Risk.</i> ADRs are receipts, issued by depository banks in the United States,
for shares of a foreign-based company that entitle the holder to dividends and capital gains on the underlying security. ADRs may be sponsored
or unsponsored. In addition to the risks of investing in foreign securities, there is no guarantee that an ADR issuer will continue to
offer a particular ADR. As a result, the Fund may have difficulty selling the ADR or selling them quickly and efficiently at the prices
at which they have been valued. The issuers of unsponsored ADRs are not obligated to disclose information that is considered material
in the U.S. and voting rights with respect to the deposited securities are not passed through. ADRs may not track the prices of the underlying
foreign securities on which they are based, and their values may change materially at times when U.S. markets are not open for trading.</td></tr></table>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--RiskOfInvestingInDevelopedCountriesMember_zejK3nxLl08a"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Risk of Investing in Developed Countries.</b> The Fund's investments in developed country issuers
may subject the Fund to regulatory, political, currency, security, economic and other risks associated with developed countries. Developed
countries tend to represent a significant portion of the global economy and have generally experienced slower economic growth than some
less developed countries. Certain developed countries have experienced security concerns, such as terrorism and strained international
relations. Incidents involving a country's or region's security may cause uncertainty in its markets and may adversely affect its economy
and the Fund's investments. In addition, developed countries may be adversely impacted by changes to the economic conditions of certain
key trading partners, regulatory burdens, debt burdens and the price or availability of certain commodities.</td></tr></table>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--InflationRiskMember_zwYwHc5yn22j"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Inflation Risk.</b> At any time, the Fund may have significant investments in cash or cash equivalents. When
a substantial portion of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will
not keep pace with inflation, thus reducing purchasing power over time.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0 0.25in; text-align: justify"></p>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--NonDiversificationRiskMember_z0kk7FhUiNBh"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Non-Diversification Risk.</b> <span id="xdx_90F_eoef--RiskTextBlock_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member__oef--RiskAxis__oef--RiskNondiversifiedStatusMember_zlJ7ZDU2QQM6">Because the Fund is non-diversified, it will hold larger positions
in a smaller number of securities than funds that are “diversified.” This means that an increase or decrease in the value
of a single security held by the Fund likely will have a greater impact on the Fund’s NAV and total return than a diversified fund.</span></td></tr></table>
Because the Fund is non-diversified, it will hold larger positions
in a smaller number of securities than funds that are “diversified.” This means that an increase or decrease in the value
of a single security held by the Fund likely will have a greater impact on the Fund’s NAV and total return than a diversified fund.
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerCybersecurityRiskMember_zaGGTiS1VRA5"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Issuer Cybersecurity Risk.</b> Issuers of securities in which the Fund invests, counterparties with
which the Fund engages in transactions, exchange and other financial market operators, banks, brokers, dealers and other financial institutions
may experience cybersecurity breaches. These breaches may result in harmful disruptions to operations and may negatively impact the financial
condition of an issuer or market participant. The Fund and its shareholders could be negatively impacted as a result. </td></tr></table>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--OperationalRiskMember_zCIjCdzaiZl4"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 6pt; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0"></td><td style="width: 0.25in"><span style="font-family: Symbol">·</span></td><td style="text-align: justify"><b>Operational Risk.</b> The Fund is exposed to operational risks arising from a number of factors,
including, but not limited to, human error, processing and communication errors, errors of the Fund’s service providers, counterparties
or other third parties, failed or inadequate processes and technology or systems failures. The Fund and its agents seek to reduce these
operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to
address significant operational risks.</td></tr></table>
Performance
<p id="xdx_A85_eoef--PerformanceNarrativeTextBlock_zDRcK8juLWj2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_907_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_z2B5zdsbcoUg">The bar chart below shows how the Fund’s
investment results have varied from year to year. The table below shows how the Fund’s average annual total returns compare over
time to those of a broad-based securities market index. This information provides some indication of the risks of investing in the Fund.</span>
<span id="xdx_905_eoef--PerformancePastDoesNotIndicateFuture_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_z7Mtt5KejlR1">Past performance of the Fund is no guarantee of how it will perform in the future.</span></p>
The bar chart below shows how the Fund’s
investment results have varied from year to year. The table below shows how the Fund’s average annual total returns compare over
time to those of a broad-based securities market index. This information provides some indication of the risks of investing in the Fund.
Past performance of the Fund is no guarantee of how it will perform in the future.
Annual Total Return
(year ended December 31st)
<p id="xdx_A84_eoef--BarChartTableTextBlock_zJgO5e7ITGKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><img alt="" src="image_001.gif" style="height: 283px; width: 481px"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>
<div></div>
<table cellpadding="0" cellspacing="0" id="xdx_A54_dU_zrbls7OTeQEd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="display: none; vertical-align: bottom; text-align: center">
<th style="display: none; text-align: center">Years</th>
<th style="display: none; text-align: center">Returns</th></tr>
<tr style="display: none; vertical-align: top; text-align: left">
<td style="display: none; text-align: center; width: 50%">2021</td>
<td id="xdx_980_eoef--AnnlRtrPct_c20210101__20211231__oef--ClassAxis__custom--C000215804Member_zGDeXsKAh6Ue" style="display: none; text-align: center; width: 50%">12.48%</td></tr>
<tr style="display: none; vertical-align: top; text-align: left">
<td style="display: none; text-align: center">2022</td>
<td id="xdx_983_eoef--AnnlRtrPct_c20220101__20221231__oef--ClassAxis__custom--C000215804Member_zPy25A5GGGZf" style="display: none; text-align: center">-0.96%</td></tr>
<tr style="display: none; vertical-align: top; text-align: left">
<td style="display: none; text-align: center">2023</td>
<td id="xdx_98C_eoef--AnnlRtrPct_c20230101__20231231__oef--ClassAxis__custom--C000215804Member_zPs0UUIScOE4" style="display: none; text-align: center">4.59%</td></tr>
<tr style="display: none; vertical-align: top; text-align: left">
<td style="display: none; text-align: center">2024</td>
<td id="xdx_988_eoef--AnnlRtrPct_c20240101__20241231__oef--ClassAxis__custom--C000215804Member_z7RzpVwKwF6g" style="display: none; text-align: center">12.87%</td></tr>
<tr style="display: none; vertical-align: top; text-align: left">
<td style="display: none; text-align: center">2025</td>
<td id="xdx_987_eoef--AnnlRtrPct_c20250101__20251231__oef--ClassAxis__custom--C000215804Member_zUUOr0OENSLa" style="display: none; text-align: center">15.09%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p>
0.1248
-0.0096
0.0459
0.1287
0.1509
<p id="xdx_A8F_eoef--BarChartClosingTextBlock_zMxdQRMuVkT8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Highest/Lowest quarterly results during this time period
were:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span id="xdx_90C_eoef--HighestQuarterlyReturnLabel_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zmshRFoMUive">Best Quarter:</span> Fourth Quarter <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_dxL_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zzxXUux0BuDk" title="::XDX::2022-12-31"><span style="-sec-ix-hidden: xdx2ixbrl0083">2022</span></span> <span id="xdx_900_eoef--BarChartHighestQuarterlyReturn_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zhQkGjn4kRM8">11.62%</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span id="xdx_902_eoef--LowestQuarterlyReturnLabel_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zEjckZA5Pap7">Worst Quarter:</span> Second Quarter <span id="xdx_90E_eoef--BarChartLowestQuarterlyReturnDate_dxL_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zNsyBmdDfGGf" title="::XDX::2022-06-30"><span style="-sec-ix-hidden: xdx2ixbrl0086">2022</span></span> <span id="xdx_906_eoef--BarChartLowestQuarterlyReturn_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zTzcpko9mNdg">(9.66)%</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The Fund’s <span id="xdx_900_eoef--YearToDateReturnLabel_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_z8ijQ9MLV7E1">year to date return</span> as of <span id="xdx_908_eoef--BarChartYearToDateReturnDate_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zZHzwl42Cmdg">June
30, 2026</span> was <span id="xdx_90A_eoef--BarChartYearToDateReturn_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zesfoZm13C35">4.53%</span>.</p>
Best Quarter:
0.1162
Worst Quarter:
-0.0966
year to date return
2026-06-30
0.0453
AVERAGE ANNUAL TOTAL RETURNS
(for the periods ended December 31, 2025)
<div id="xdx_A8B_eoef--PerformanceTableTextBlock_zesMx1J4thZk"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_z1TvCdEf6lG2" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="vertical-align: bottom">
<td style="width: 62%; text-align: left"><span style="font-size: 9.5pt"><b>Absolute Select ETF</b></span></td>
<td id="xdx_49F_20250101__20251231_zHxLGOkdvJH4" style="width: 14%; padding-left: 1.5pt; text-align: center"><span style="font-size: 8pt"><b>1 Year</b></span></td>
<td id="xdx_496_20210101__20251231_zvdGEMaEU2s1" style="width: 12%; text-align: center"><span style="font-size: 8pt"><b>5 Years</b></span></td>
<td id="xdx_49F_20200121__20251231_zkoi3LWXrrof" style="width: 12%; text-align: center"><span style="font-size: 8pt"><b>Since Inception (<span id="xdx_904_eoef--PerfInceptionDate_dd_c20260729__20260729__oef--ClassAxis__custom--C000215804Member__oef--PerformanceMeasureAxis__custom--SP500TotalReturnIndexMember_zgaZnRj46WB7">January 21, 2020</span>)</b></span></td></tr>
<tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000215804Member_z4cfEDy48op7" style="vertical-align: bottom; background-color: #CCEEFF">
<td style="text-align: left"><span style="font-size: 9.5pt">Return Before Taxes</span></td>
<td style="padding-left: 1.5pt; text-align: center"><span style="font-size: 9.5pt">15.09%</span></td>
<td style="text-align: center"><span style="font-size: 9.5pt">8.64%</span></td>
<td style="text-align: center"><span style="font-size: 9.5pt">7.65%</span></td></tr>
<tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000215804Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zLySPmByp2ha" style="vertical-align: bottom">
<td style="text-align: left"><span style="font-size: 9.5pt">Return After Taxes on Distributions</span></td>
<td style="padding-left: 1.5pt; text-align: center"><span style="font-size: 9.5pt">14.75%</span></td>
<td style="text-align: center"><span style="font-size: 9.5pt">8.25%</span></td>
<td style="text-align: center"><span style="font-size: 9.5pt">7.28%</span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000215804Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z6nRdEgGzfVd" style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 18.75pt; text-align: left; text-indent: -18.75pt"><span style="font-size: 9.5pt">Return After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="padding-left: 1.5pt; text-align: center"><span style="font-size: 9.5pt">9.17%</span></td>
<td style="text-align: center"><span style="font-size: 9.5pt">6.75%</span></td>
<td style="text-align: center"><span style="font-size: 9.5pt">5.97%</span></td></tr>
<tr style="vertical-align: bottom">
<td>
<p style="font: 9.5pt Times New Roman, Times, Serif; margin: 0.15pt 16.5pt 0 18.75pt; text-align: left; text-indent: -0.25in"><b>S&P
500 Total Return Index<sup>1</sup></b></p>
<p style="font: 9.5pt Times New Roman, Times, Serif; margin: 0.15pt 16.5pt 0 0.5in; text-align: left; text-indent: -0.25in">(<span id="xdx_901_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zbespHq9m8Ae">reflects
no deductions for fees, expenses and taxes</span>)</p></td>
<td id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000215804Member__oef--PerformanceMeasureAxis__custom--SP500TotalReturnIndexMember_fMS0___zg9QRPmeqjbi" style="padding-left: 1.5pt; text-align: center"><span style="font-size: 9.5pt">17.88%</span></td>
<td id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__oef--ClassAxis__custom--C000215804Member__oef--PerformanceMeasureAxis__custom--SP500TotalReturnIndexMember_fMS0___zye7FLbo45u3" style="text-align: center"><span style="font-size: 9.5pt">14.42%</span></td>
<td id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20200121__20251231__oef--ClassAxis__custom--C000215804Member__oef--PerformanceMeasureAxis__custom--SP500TotalReturnIndexMember_fMS0___zX1tKgwaFtX2" style="text-align: center"><span style="font-size: 9.5pt">14.68%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="text-align: justify; padding-left: 10pt; text-indent: -10pt; width: 25pt"><span id="xdx_F06_zur15BYPtqcg">1-</span></td>
<td style="text-align: justify; padding-left: 10pt"> <span id="xdx_F1C_zrnTmNneT9J5" style="font-size: 9.5pt">The S&P 500 Total Return Index is a market capitalization weighted index of 500 leading publicly
traded companies in the U.S. The index is a widely recognized unmanaged index of equity securities and is representative of a broader
domestic equity market and range of securities than is found in the Fund’s portfolio. Individuals cannot invest directly in an
index; however, an individual can invest in exchange-traded funds or other investment vehicles that attempt to track the performance
of a benchmark index.</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
2020-01-21
0.1509
0.0864
0.0765
0.1475
0.0825
0.0728
0.0917
0.0675
0.0597
reflects
no deductions for fees, expenses and taxes
0.1788
0.1442
0.1468
<p id="xdx_A85_eoef--PerformanceTableClosingTextBlock_zry0zTuUCgRe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span id="xdx_900_eoef--PerformanceTableUsesHighestFederalRate_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_z8RTT5R3Bym1">After-tax returns are calculated using the historical
highest individual federal income tax rates and do not reflect the impact of state and local taxes.</span> <span id="xdx_90A_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_zHA1GYQRwkMa">Actual after-tax returns depend on
an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their
Fund shares through tax-deferred arrangements, such as 401(k) plans or IRAs.</span> The index returns presented above assume reinvestment of
all distributions and exclude the effect of taxes and fees (if expenses and taxes were deducted, the actual returns of the indices would
be lower).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><i>Current performance of the Fund may be lower or
higher than the performance quoted above. Performance data current to the most recent month end may be obtained by calling <span id="xdx_90F_eoef--PerformanceAvailabilityPhone_c20260729__20260729__dei--LegalEntityAxis__custom--S000067086Member_z2e2lzvu0yk4">1-833-267-3383</span>.</i></p>
After-tax returns are calculated using the historical
highest individual federal income tax rates and do not reflect the impact of state and local taxes.
Actual after-tax returns depend on
an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their
Fund shares through tax-deferred arrangements, such as 401(k) plans or IRAs.
1-833-267-3383