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0.0070 0.1159 -0.1221 0.0944 0.0751 0.1302 0.0382 0.0678 -0.0245 0.0668 0.1512 0.0124 -0.1416 0.0711 0.0416 0.0373 2026-07-29 N-1A GPS FUNDS II GUIDEPATH® GROWTH ALLOCATION FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Growth Allocation Fund (the “Fund”) seeks to maximize total return, consisting of a combination of long-term capital appreciation and current income, while moderating risk and volatility in the portfolio.</span></div> Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0 0.0042 0.0025 0.0017 0.0015 0.0082 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Service Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Service Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 84 262 455 1014 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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 fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 12% of the average value of its portfolio.</span></div> 0.12 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund operates as a fund of funds, investing primarily in registered mutual funds, including exchange-traded funds (“ETFs”). The Fund may also invest in closed-end funds, including unlisted interval funds. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” The Advisor believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In seeking to maximize total return, under normal circumstances, the Fund’s assets are allocated, either directly or indirectly via the Underlying Funds, among various asset classes, including domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and domestic and international fixed income securities. The intention is to capture broad capital market returns, while seeking to balance the pursuit of maximum total return against the control of risk in the portfolio.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the general allocation into equity, fixed income and cash equivalent asset classes, the Fund’s assets are also typically allocated among a variety of sub-asset classes. The Fund’s equity investments typically include, either directly or indirectly via the Underlying Funds, a mix of weightings of larger and smaller capitalization equity securities, growth and value stocks, and equity securities from developed and emerging international markets. The Fund’s fixed income investments may be expected to be allocated, either directly or indirectly via the </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Underlying Funds, among corporate bonds, mortgage-backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and to higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. Typically, a significant portion of the Fund’s fixed income allocation will be in non-investment grade fixed income investments with varying maturities.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions are based on different factors and analytical approaches, derived from asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to generally remain consistent for longer periods of time. Under normal circumstances, the Fund is expected to allocate between 65% and 100% of its assets to equity securities or investments that provide exposure to equity securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities or investments that provide exposure to equity securities and its target allocation to fixed income securities or investments that provide exposure to fixed income securities, including cash equivalents. </span><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund also may allocate significant assets to international equity markets: up to 45% to developed international markets and up to 35% to emerging markets.</span><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to enhance returns, to manage or adjust the risk profile of the Underlying Fund, to replace more traditional direct investments, or to obtain exposure to certain markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> Under normal circumstances, the Fund is expected to allocate between 65% and 100% of its assets to equity securities or investments that provide exposure to equity securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities or investments that provide exposure to equity securities and its target allocation to fixed income securities or investments that provide exposure to fixed income securities, including cash equivalents. The Fund also may allocate significant assets to international equity markets: up to 45% to developed international markets and up to 35% to emerging markets. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance The bar chart and table that follow illustrate annual returns for Service Shares of the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® GROWTH ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 11.68%.</span></div><div style="margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">21.01</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-20.68</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.1168 Best Quarter: 2020-06-30 0.2101 Worst Quarter: 2020-03-31 -0.2068 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.1959 0.1011 0.1091 Return After Taxes on Distributions 0.1825 0.0917 0.0986 Return After Taxes on Distributions and Sale of Fund Shares 0.1247 0.0784 0.0867 S&P® Target Risk Aggressive Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.2005 0.0958 0.1025 MSCI All Country World Index (ACWI)(reflects no deduction for fees, expenses or taxes) 0.2287 0.1170 0.1228 After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. GUIDEPATH® CONSERVATIVE ALLOCATION FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Conservative Allocation Fund (the “Fund”) seeks to maximize total return, consisting of a combination of long-term capital appreciation and current income, while moderating risk and volatility in the portfolio.</span></div> Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0 0.0045 0.0025 0.0020 0.0015 0.0085 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Service Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Service Shares of 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, and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 87 271 471 1049 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.</span></div> 0.30 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund operates as a fund of funds, investing primarily in registered mutual funds, including exchange-traded funds (“ETFs”). The Fund may also invest in closed-end funds, including unlisted interval funds. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” The Advisor believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In seeking to maximize total return, under normal circumstances, the Fund’s assets are allocated, either directly or indirectly via the Underlying Funds, into a diversified portfolio consisting of domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and domestic and international fixed income securities. The intention is to capture broad capital market returns over the long term, while seeking to balance the pursuit of maximum total return against the control of risk in the portfolio. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In addition to the general strategic allocation into equity, fixed income and cash equivalent asset classes, the Fund’s assets are also typically allocated among a variety of sub-asset classes. The Fund’s equity investments typically include, either directly or indirectly via the </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Underlying Funds, a mix of weightings of larger and smaller capitalization equity securities, growth and value stocks, and equity securities from developed and emerging international markets. The Fund’s fixed income investments may be expected to be allocated, either directly or indirectly via the Underlying Funds, among corporate bonds, mortgage-backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and to higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. A significant portion of the Fund’s fixed income allocation may be in non-investment grade fixed income investments with varying maturities. The Fund may also allocate a portion of its assets to commodities-related investments.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Under normal circumstances, the Fund is expected to allocate between 15% and 55% of its assets to equity securities and investments that provide exposure to equity securities and between 45% and 85% of its assets to fixed income securities and investments that provide exposure to fixed income securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions or short-term market opportunities. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities and investments that provide exposure to equity securities and its target allocation to fixed income securities and investments that provide exposure to fixed income securities, including cash equivalents. For example, if the Advisor believes that the stock market is undervalued, it may increase the equity allocation, or if the Advisor believes that the stock market is overvalued, it may decrease the equity allocation. Within these ranges, the Advisor has the ability to overweight or underweight certain asset classes in pursuit of increased return or reduced risk in the short to intermediate term. The Fund’s portfolio will be rebalanced periodically as a result of asset class performance causing drift away from the targeted asset allocation mix.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use derivatives to earn income and enhance returns, to manage or adjust their risk profile, to replace more traditional direct investments, or to obtain exposure to certain markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may obtain investment exposure to commodity-related investments by investing in one or more wholly-owned subsidiaries (each, "the Subsidiary") organized under the laws of the Cayman Islands (a "Cayman Subsidiary") or as a Delaware limited liability company (a "Delaware Subsidiary"), which will make commodity-related investments.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> Under normal circumstances, the Fund is expected to allocate between 15% and 55% of its assets to equity securities and investments that provide exposure to equity securities and between 45% and 85% of its assets to fixed income securities and investments that provide exposure to fixed income securities. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Commodities Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Wholly-Owned Subsidiary Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Subsidiary will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States, the State of Delaware and/or the Cayman Islands, as applicable, could affect the ability of the Fund and/or a Subsidiary to operate as described herein and could negatively affect the Fund and its shareholders. By investing in the Fund, you indirectly bear the expenses and applicable taxes (if any) of the Subsidiaries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Tax Risk – Investment in Commodities: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The tax treatment of commodity-linked investments may be adversely affected by changes in legislation, regulations or other legally binding authority. If, as a result of any such adverse action, the income of the Fund from certain commodity-linked investments or the Subsidiary was treated as non-qualifying income for purposes of the Fund’s qualification as a regulated investment company, the Fund might fail to qualify as such and be subject to federal income tax at the Fund level. With respect to the Delaware Subsidiary, because that Subsidiary is itself subject to U.S. federal income tax (as well as applicable state and local income taxes) on its taxable income, the Fund’s after-tax returns may be affected.</span> Performance The bar chart and table that follow illustrate annual returns for Service Shares of the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® CONSERVATIVE ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 5.19%.</span></div><div style="margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">9.61</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-10.61</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0519 Best Quarter: 2020-06-30 0.0961 Worst Quarter: 2020-03-31 -0.1061 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.1245 0.0522 0.0570 Return After Taxes on Distributions 0.1100 0.0413 0.0464 Return After Taxes on Distributions and Sale of Fund Shares 0.0760 0.0366 0.0416 S&P® Target Risk Conservative Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.1202 0.0385 0.0556 Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) 0.0730 -0.0036 0.0201 After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. GUIDEPATH® TACTICAL ALLOCATION FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Tactical Allocation Fund (the “Fund”) seeks to maximize total return, consisting of a combination of long-term capital appreciation and current income, while moderating risk and volatility in the portfolio.</span></div> Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0043 0.0025 0.0018 0.0009 0.0087 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Service Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Service Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 89 278 482 1073 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 285% of the average value of its portfolio.</span></div> 2.85 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In seeking to maximize total return, under normal circumstances, the Fund’s assets are allocated into a diversified portfolio consisting of domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)), domestic and international fixed income securities, exchange-traded funds (“ETFs”), mutual funds and cash equivalent money market securities. The Fund’s allocation to individual securities may range from 0% to 90% of the Fund’s assets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The asset classes in which the Fund may invest include growth and value stocks, equity securities from developed and emerging international markets, commodity-related securities and domestic and international real estate securities, corporate bonds, mortgage- backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. The Fund may invest in debt obligations of any maturity. A significant portion of the Fund’s fixed income allocation may be in non-investment grade fixed income investments with varying maturities, but these allocations may vary significantly over time.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may allocate assets to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in investment companies (collectively, referred to herein as “Underlying Funds”) when AssetMark, Inc. (“AssetMark” </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">or the “Advisor”) believes that investing in Underlying Funds would provide the Fund with an efficient means of creating exposure to a broad range of securities. The Fund’s allocation to Underlying Funds may range from 10% to 100% of the Fund’s assets. The Fund may also invest in other exchange-traded products, such as exchange-traded notes (“ETNs”). The ETFs and ETNs in which the Fund invests may include inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively. By investing in the Fund, you will indirectly bear fees and expenses of Underlying Funds in which the Fund may invest in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may invest in Underlying Funds that use alternative strategies (e.g., long/short strategies - equity and fixed income, market- neutral strategies, and absolute return/global macro strategies) and/or use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust its risk profile, to replace more traditional direct investments, or to obtain exposure to certain markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, including tactical volatility managed asset allocation approaches developed by various research providers selected by the Advisor. The Advisor may utilize a combination of internal and external research constructing the Fund’s portfolio.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to change frequently over time. The Fund does not have a set target asset allocation mix among equities, fixed income securities and cash equivalent investments. If the Advisor believes that the stock market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes such as fixed income or cash equivalent securities. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> The Fund may invest in investment companies (collectively, referred to herein as “Underlying Funds”) when AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds would provide the Fund with an efficient means of creating exposure to a broad range of securities. The Fund’s allocation to Underlying Funds may range from 10% to 100% of the Fund’s assets. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Investments in Underlying Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> To the extent that the Fund allocates a substantial portion of its assets to Underlying Funds, the ability of the Fund to meet its investment objective will depend on the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, the Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Notes Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> ETNs are debt securities that are traded on an exchange (e.g., the New York Stock Exchange) whose returns are linked to the performance of a particular market benchmark or strategy. An ETN generally reflects the risks associated with the assets composing the underlying market benchmark or strategy it is designed to track. ETNs also are subject to issuer and fixed- income risks.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Leveraged and Inverse ETF/ETN Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Inverse ETFs/ETNs generally use derivatives and short sales that, in combination, are designed to produce returns that move in the opposite direction of the indices they track. To the extent the Fund invests in ETFs/ETNs that seek to provide investment results that are the inverse of the performance of an underlying index, the Fund will indirectly be subject to the risk that the performance of such ETF/ETN will fall as the performance of that ETF or ETN’s benchmark rises, a result that is the opposite from traditional mutual funds. The Fund’s use of leveraged and inverse-leveraged ETFs and ETNs has the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in these instruments at all.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Commodities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Real Estate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Portfolio Turnover Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The bar chart and table that follow illustrate annual returns for Service Shares of the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Fund changed its investment strategy on January 19, 2016 and again on November 22, 2019. The performance set forth below prior to such dates is attributable to the previous investment strategies.</span></div> This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® TACTICAL ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 6.71%.</span></div><div style="margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2024</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">10.85</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-14.32</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0671 Best Quarter: 2024-03-31 0.1085 Worst Quarter: 2020-03-31 -0.1432 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.0703 0.1070 0.0852 Return After Taxes on Distributions 0.0465 0.0866 0.0702 Return After Taxes on Distributions and Sale of Fund Shares 0.0514 0.0778 0.0640 S&P 500® Daily Risk Control 10% Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0649 0.0963 0.1007 S&P 500® Index (reflects no deduction for fees, expenses or taxes) 0.1788 0.1442 0.1482 FTSE 3-Month Treasury Bill Index(reflects no deduction for fees, expenses or taxes) 0.0440 0.0331 0.0223 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after- tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after- tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® ABSOLUTE RETURN ALLOCATION FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span> Absolute Return Allocation Fund (the “Fund”) seeks to achieve consistent absolute positive returns over time regardless of the market environment. Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0050 0.0025 0.0025 0.0087 0.0172 -0.0006 0.0166 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. July 31, 2027 Example The following Example is intended to help you compare the cost of investing in Service Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Service Shares of 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 and that the Fund’s operating expenses remain the same. The Example reflects adjustments made to the Fund’s operating expenses due to the fee waiver and/or expense assumption by the Advisor for the 1-year number only. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 169 536 928 2025 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 185% of the average value of its portfolio.</span></div> 1.85 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund operates as a fund of funds, investing primarily in registered mutual funds, including exchange-traded funds (“ETFs”) and closed-end funds (including unlisted interval funds). The funds in which the Fund may invest are referred to herein as the “Underlying Funds.”</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">turn, invest in various securities, including ETFs and closed-end funds (including unlisted interval funds). The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from absolute return asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. The research providers’ absolute return asset allocation approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek to achieve consistent absolute positive returns over time regardless of the market environment. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in fixed income, equity-oriented investments and a mix of diversified alternative investments across global markets, using varying active asset allocation strategies among different security types, asset classes, yield and duration, valuation analyses, and currency exposure considerations.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may utilize an absolute return asset allocation strategy that builds on a foundation of alternative investments, such as long/short equity funds that seek a modest positive return from equity investments, that attempts to stay insulated from general stock market volatility, combined with opportunistic equity and fixed income investments strategically selected to enhance returns. The Fund may invest in Underlying Funds that use alternative strategies and/or use derivatives for risk management purposes or engage in significant use of derivatives as part of their investment strategies. The alternative strategies used by Underlying Funds may include, among others, long/short strategies – equity and fixed income, market-neutral strategies, absolute return/global macro strategies, and risk premium strategies, including market risk transfer strategies, alternative (marketplace) lending, merger arbitrage strategies and real estate, reinsurance and commodity-linked derivatives. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk profile of the Underlying Fund, to replace more traditional direct investments, or to obtain exposure to certain markets or asset classes, including real estate and commodities, which may include both traditional commodities such as precious metals and agricultural products, along with digital assets such as bitcoin.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may also utilize absolute return asset allocation strategies that allocate assets to various fixed income instruments and sectors using various passive index-oriented ETFs focusing on instruments such as U.S. Government bonds and notes, corporate bonds, bank loans, mortgage-related securities and asset-backed securities, inflation-protected debt securities, corporate bonds of various quality levels and maturity/duration, and cash equivalent investments. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure at the appropriate times, while increasing exposure to attractive sectors on a timely basis. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may obtain investment exposure to commodity-related investments by investing in a wholly-owned subsidiary organized under the laws of the Cayman Islands that will make commodity-related investments (the “Subsidiary” or “Cayman Subsidiary”). </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Liquidity Risk: </span>Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Maturity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Municipal Securities Risk: </span>The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions. Newly originated variable rate securities (including reissuances and restructured loans) may possess lower levels of credit document protections than has historically been the case. Accordingly, in the event of default the Fund may experience lower levels of recoveries than has historically been the norm.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Commodities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Digital Assets Investments Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Certain Underlying Funds may invest in digital assets such as bitcoin, along with futures contracts and options on digital asset futures contracts (or options on ETFs that invest in digital assets or digital asset futures contracts). Digital assets operate without central authority (such as a bank) and is not backed by any government, corporation, or other entity. Digital assets are not generally accepted as legal tender. Regulation of bitcoin and other digital assets is still developing. Federal, state and/or foreign governments may restrict the development, use, demand, or exchange of bitcoin and other digital assets. Regulation of digital assets continues to be a priority in both the United States and certain foreign jurisdictions and to evolve with the passage of new regulatory initiatives. Future regulation may restrict the use of bitcoin and other digital assets or otherwise affect the supply and demand for such assets. The market price of digital assets has historically been highly volatile. The price of a digital asset like bitcoin could fall sharply (potentially to zero) for various reasons, including, but not limited to, regulatory changes, issues impacting the bitcoin network, events involving entities that facilitate transactions in bitcoin, or changes in user preferences in favor of alternative digital assets. Furthermore, events that impact one digital asset may lead to a decline in the value of others. Digital asset exchanges and other trading venues on which digital assets trade are relatively new and, in most cases, largely unregulated. Accordingly, digital assets exchanges may be more exposed to fraud and failure than established, regulated exchanges for securities, derivatives and other currencies. Digital assets exchanges are also subject to cyber security risks. Digital asset exchanges have experienced cyber security breaches in the past and may be breached in the future, which could result in the theft and/or loss of digital assets and impact the value of digital asset futures. Furthermore, cyber security events, legal or regulatory actions, fraud, and technical glitches, may cause a digital asset exchange to shut down temporarily or permanently, which may also affect the value of bitcoin, bitcoin futures, and/or other digital assets and related derivative instruments.</span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Shares of ETFs that hold bitcoin, bitcoin futures, and other digital assets and related derivative instruments may trade in the secondary market at a premium to or discount from their NAVs, and an Underlying Fund may purchase or sell shares of such digital asset futures ETFs at prices above or below such NAVs. Because the market price of ETF shares depends in part on the demand in the market for the shares, as well as on the value of the ETF’s component assets, and because the market price of ETF shares is subject to tracking error, the market price of a digital asset futures ETF may be more volatile than the underlying digital asset futures contracts in which the digital asset futures ETF invests. In addition, an Underlying Fund may not be able to liquidate digital asset futures ETF holdings at the time or price desired, which may adversely impact the Underlying Fund’s performance and in turn, the value of the Fund’s investment. Furthermore, there may be times when the exchange halts trading in the shares of a digital asset futures ETF, in which case the Underlying Fund would be unable to sell them until trading is resumed.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Digital Asset Market Volatility Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The price of digital assets remains highly volatile and subject to significant price fluctuations. While recent increases in institutional adoption, clearer regulatory frameworks, and broader market acceptance have contributed to greater stability relative to earlier periods, the price of digital assets continues to be influenced by rapid shifts in market sentiment, regulatory developments, macroeconomic conditions, technological advancements, and unforeseen events. The market price of digital assets has historically experienced dramatic highs and lows over short periods, relative to more traditional asset classes, often with limited or no identifiable catalyst. Given the evolving nature of digital asset markets, price volatility may be amplified by external factors such as changes in global financial markets, geopolitical events, regulatory enforcement actions, or significant technological or security incidents. The value of a digital asset and, therefore, of an Underlying Fund’s digital asset strategy, could decline rapidly, including to zero, which would adversely affect the Underlying Fund’s NAV per share.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Insurance-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The principal risk of investments in insurance-linked securities is that a triggering event (which could include a natural disaster like an earthquake or tornado or a commercial or industrial accident like an aviation disaster or oil spill) occurs, resulting an Underlying Fund losing all or a significant portion of the principal it has invested in the security and the right to additional interest payments with respect to the security. If multiple triggering events occur that impact a significant portion of the portfolio of the Underlying Fund, the Underlying Fund could suffer substantial losses and an investor will lose money. Event-linked or catastrophe bonds carry large uncertainties and major risk exposures to adverse conditions. Certain reinsurance investments may be difficult to value. There is no way to accurately predict whether a triggering event will occur and, because of this significant uncertainty, insurance-linked securities carry a high degree of risk.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Marketplace Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Investments by Underlying Funds in loans sourced through marketplace lending platforms are subject to additional risks than those applicable to investments in loans generally. If a borrower is unable or fails to make payments on a loan for any reason, an Underlying Fund may not have direct recourse against the borrower or may be otherwise limited in its ability to directly </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">enforce its rights under the loan, whether through the borrower or the marketplace lending platform through which the loan was originated. Borrowings obtained through marketplace lending platforms may not limit borrowers from incurring additional debt which may impair the borrower’s ability to repay interest and principal of the original loan. Default history for alternative lending platforms is limited. Future defaults may be higher than historical defaults and the timing of defaults may vary significantly from historical observations. An Underlying Fund may have limited knowledge about the underlying loans to which it has exposure and is dependent upon the platform for information regarding the loans and borrowers’ credit information. Such information may be incomplete, inaccurate or outdated and may, therefore, not accurately reflect the borrowers’ actual creditworthiness. Disruptions in the business of a platform may also negatively impact the value of loans sourced through that platform. Investments in loans sourced through a marketplace lending platform may also be negatively impacted if the platform or a third-party service provider becomes unable or unwilling to fulfill its obligations in servicing the loans.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Subordinated Real Estate Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An Underlying Fund may acquire or originate subordinated real estate loans secured by single family rental properties, including mezzanine loans in the form of subordinated loans secured by a pledge of the ownership interests of either the entity owning such properties or the entity that owns the interest in the entity owning such properties. In the event a borrower defaults on a subordinated loan and lacks sufficient assets to satisfy such loan, the Underlying Fund may suffer a loss of principal or interest. In the event a borrower declares bankruptcy, the Underlying Fund may not have full recourse to the assets of the borrower, or the assets of the borrower may not be sufficient to satisfy the loan. If a borrower defaults on a loan owned by the Underlying Fund or on debt senior to such loan, or in the event of a borrower bankruptcy, such loan will be satisfied only after the senior debt is paid in full. These types of investments may become unsecured as a result of foreclosure by the senior lender.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Real Estate Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Unlisted Closed-end Interval Fund Risk.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> In addition to the risks associated with the underlying assets held by an underlying unlisted closed-end interval fund (an underlying interval fund), an underlying interval fund is considered an illiquid investment because shareholders (such as the Fund) cannot redeem or sell their shares outside of periodic repurchase offers. To provide some liquidity to its shareholders, an underlying interval fund makes periodic offers to repurchase a portion of its outstanding shares at net asset value (“NAV”), subject to certain conditions under Rule 23c-3 under the 1940 Act. In connection with any given repurchase offer, it is possible that an underlying interval fund may offer to repurchase only a small portion of its outstanding shares. Further, if a repurchase offer is oversubscribed, shareholders of an underlying interval fund may only have a portion of their shares repurchased. As a result, there is no guarantee that shareholders of an underlying interval fund will be able to exit their shares at any given time. Since an underlying interval fund does not list its shares for trading on any national securities exchange, an underlying interval fund's shares are, therefore, not readily marketable and no market is expected to develop. The Fund will bear its proportionate share of fees associated with its investments in an underlying interval fund, including management fees charged by the investment adviser to the underlying interval fund, and other fees and operational expenses, such as interest expenses in connection with any leverage incurred by the underlying interval fund. These fees and expenses are reflected in the underlying interval fund’s NAV and will reduce the total return of the Fund’s investment in such underlying interval fund.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Portfolio Turnover Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Wholly-Owned Subsidiary Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Subsidiary will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could affect the ability of the Fund and/or Subsidiary to operate as described herein and could negatively affect the Fund and its shareholders. By investing in the Fund, you indirectly bear the expenses of the Subsidiary. With respect to the Cayman Subsidiary, gains or losses from trading in commodity-linked investments, such as those held by the Subsidiary, may be taxed, in part, as long-term capital gains or losses and, in part, as short-term capital gains or losses. However, because the Cayman Subsidiary is a controlled foreign corporation, any income received from its investments will be passed through to the Fund as ordinary income and taxed to Fund shareholders as such.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Wholly-Owned Subsidiary Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Subsidiary will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could affect the ability of the Fund and/or Subsidiary to operate as described herein and could negatively affect the Fund and its shareholders. By investing in the Fund, you indirectly bear the expenses of the Subsidiary. With respect to the Cayman Subsidiary, gains or losses from trading in commodity-linked investments, such as those held by the Subsidiary, may be taxed, in part, as long-term capital gains or losses and, in part, as short-term capital gains or losses. However, because the Cayman Subsidiary is a controlled foreign corporation, any income received from its investments will be passed through to the Fund as ordinary income and taxed to Fund shareholders as such.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Tax Risk – Investment in Commodities: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The tax treatment of commodity-linked investments may be adversely affected by changes in legislation, regulations or other legally binding authority. If, as a result of any such adverse action, the income of the Fund from certain </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">commodity-linked investments or the Subsidiary was treated as non-qualifying income for purposes of the Fund’s qualification as a regulated investment company, the Fund might fail to qualify as such and be subject to federal income tax at the Fund level.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Tax Risk – Investment in Commodities: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The tax treatment of commodity-linked investments may be adversely affected by changes in legislation, regulations or other legally binding authority. If, as a result of any such adverse action, the income of the Fund from certain </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">commodity-linked investments or the Subsidiary was treated as non-qualifying income for purposes of the Fund’s qualification as a regulated investment company, the Fund might fail to qualify as such and be subject to federal income tax at the Fund level.</span></div> Performance The bar chart and table that follow illustrate annual returns for Service Shares of the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® ABSOLUTE RETURN ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 6.39%.</span></div><div style="margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended December 31, 2023</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">5.23</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2022</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-5.24</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0639 Best Quarter: 2023-12-31 0.0523 Worst Quarter: 2022-06-30 -0.0524 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.0735 0.0145 0.0300 Return After Taxes on Distributions 0.0596 0.0006 0.0179 Return After Taxes on Distributions and Sale of Fund Shares 0.0436 0.0050 0.0179 FTSE 3-Month Treasury Bill Index(reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0440 0.0331 0.0223 Bloomberg Global Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) 0.0817 -0.0215 0.0126 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® MULTI-ASSET INCOME ALLOCATION FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Multi-Asset Income Allocation Fund (the “Fund”) seeks to</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%"> </span>maximize current income while moderating risk and volatility in the portfolio. As a secondary objective, the Fund seeks capital appreciation. Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0049 0.0025 0.0024 0.0025 0.0109 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Service Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Service Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 111 347 601 1329 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.</span></div> 0.39 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund operates as a fund of funds, investing primarily in registered mutual funds (both actively and passively managed) and exchange-traded funds (“ETFs”). The Fund may also invest in closed-end funds, including unlisted interval funds. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of asset classes. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund has broad flexibility to allocate its assets among a wide variety of debt and equity securities and real estate investment trusts (“REITs”) in seeking income across asset classes. As part of its principal investment strategy or for temporary defensive purposes, any portion of the Fund’s assets may also be invested in cash and cash equivalents. The Fund may invest in such instruments directly or indirectly through its investment in Underlying Funds. The Fund’s approach is flexible and allows the Advisor to shift the Fund’s allocations in response to changing market conditions. As a result, the Fund may at times be invested in a single or multiple asset classes, markets or sectors. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions are based on different factors and analytical approaches, derived from asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. In attempting to achieve the Fund’s investment objective, the Advisor monitors and adjusts the Fund’s asset allocations as necessary. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Under normal circumstances, the Fund will be expected to allocate between 40% and 80% of its assets to equity securities and investments that provide exposure to equity securities and between 20% to 60% of its assets to fixed income securities and investments that provide exposure to fixed income securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions or short-term market opportunities. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities and investments that provide exposure to equity securities and its target allocation fixed income securities and investments that provide exposure to fixed income securities, including cash equivalents.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s fixed income allocation may include, but is not limited to, investments made directly or indirectly via the Underlying Funds in debt securities of governments, government agencies and supranational entities, debt securities of corporations, preferred stock, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations. The Fund’s fixed income allocation may also include higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. It is possible that a significant portion of the Fund’s fixed income allocation may be invested, directly or indirectly, in non-investment grade fixed income investments with varying maturities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest, directly or indirectly, in domestic and international equities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)). The Fund’s equity allocation may include investments made directly or indirectly via the Underlying Funds in both small- and large-capitalization companies and both growth and value stocks. The Fund’s equity allocation may also include equity securities from emerging international markets, and both domestic and international real estate securities.</span></div><div style="margin-top:3pt;text-align:justify"><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use alternative strategies (e.g., long/short strategies – equity and fixed income, market-neutral strategies, and absolute return/global macro strategies) and/or use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> Under normal circumstances, the Fund will be expected to allocate between 40% and 80% of its assets to equity securities and investments that provide exposure to equity securities and between 20% to 60% of its assets to fixed income securities and investments that provide exposure to fixed income securities. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Real Estate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Convertible Securities Risk: </span>The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with fluctuations in the market value of the underlying securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Municipal Securities Risk:</span> The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Loan Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance The bar chart and table that follow illustrate annual returns for Service Shares of the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® MULTI-ASSET INCOME ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 6.98%.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">9.71%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-18.38%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0698 Best Quarter: 2020-06-30 0.0971 Worst Quarter: 2020-03-31 -0.1838 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.1302 0.0543 0.0540 Return After Taxes on Distributions 0.1153 0.0416 0.0424 Return After Taxes on Distributions and Sale of Fund Shares 0.0797 0.0377 0.0384 Morningstar Multi-Asset High Income Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.1505 0.0266 0.0429 Bloomberg Global Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) 0.0817 -0.0215 0.0126 MSCI All Country World Index (ACWI)(reflects no deduction for fees, expenses or taxes) 0.2287 0.1170 0.1228 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. GUIDEPATH® FLEXIBLE INCOME ALLOCATION FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span>Flexible Income Allocation Fund (the “Fund”) seeks to provide current income while moderating risk and volatility in the portfolio. As a secondary objective, the Fund seeks capital appreciation. Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0 0.0045 0.0025 0.0020 0.0054 0.0124 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Service Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Service Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 126 393 681 1500 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 149% of the average value of its portfolio.</span></div> 1.49 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund operates as a fund of funds, investing primarily in registered mutual funds (both actively and passively managed) and exchange-traded funds (“ETFs”). The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of fixed income and equity securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from volatility managed and income focused asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. The research providers’ volatility-managed and income-focused asset allocation approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek to achieve consistent returns over time regardless of the market environment while also seeking to generate high levels of income.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in various types of domestic and international fixed income securities, domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and cash equivalent money market securities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The asset classes in which the Fund may invest, either directly or indirectly via the Underlying Funds, include, but are not limited to, debt securities of governments, government agencies and supranational entities, debt securities of corporations, preferred stock, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations, higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt, dividend-paying securities of small- and large-capitalization companies, growth and value stocks, equity securities from developed and emerging market countries, and both domestic and international real estate securities. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar. It is possible that a significant portion of the Fund’s assets may be invested, directly or indirectly, in non-investment grade fixed income investments with varying maturities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may allocate assets to passive index-oriented ETFs that provide exposure to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis. The Fund may also invest in inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively.</span><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may utilize an asset allocation strategy that builds on a foundation of alternative investments, such as long/short equity funds that seek a modest positive return from equity investments, that attempts to stay insulated from general stock market volatility, combined with opportunistic equity and fixed income investments strategically selected to enhance returns. The Fund’s alternative strategies may also include diversified risk premium strategies, including market risk transfer strategies, alternative (marketplace) lending and real estate, reinsurance and commodity-linked derivatives, including, but not limited to, commodity futures contracts, and exposure to certain asset classes, including digital assets such as bitcoin.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s asset allocation mix among fixed income, equity and cash equivalent money market securities is intended to change over time. The Fund does not have a set target asset allocation mix. If the Advisor believes that market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or engage in significant use of derivatives as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue. For example, with currency derivatives, there may be an imperfect correlation between a Fund’s portfolio holdings of securities denominated in a particular currency and the currencies underlying the currency derivatives entered into by the Fund.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Convertible Securities Risk:</span> The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with fluctuations in the market value of the underlying securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Municipal Securities Risk:</span> The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Leveraged and Inverse ETF/ETN Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Inverse ETFs/ETNs generally use derivatives and short sales that, in combination, are designed to produce returns that move in the opposite direction of the indices they track. To the extent the Fund invests in ETFs/ETNs that seek to provide investment results that are the inverse of the performance of an underlying index, the Fund will indirectly be subject to the risk that the performance of such ETF/ETN will fall as the performance of that ETF or ETN’s benchmark rises, a result that is the opposite from traditional mutual funds. The Fund’s use of leveraged and inverse-leveraged ETFs and ETNs has the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in these instruments at all.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund's assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Digital Assets Investments Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Certain Underlying Funds may invest in digital assets such as bitcoin, along with futures contracts and options on digital asset futures contracts (or options on ETFs that invest in digital assets or digital asset futures contracts). Digital assets operate without central authority (such as a bank) and is not backed by any government, corporation, or other entity. Digital assets are not generally accepted as legal tender. Regulation of bitcoin and other digital assets is still developing. Federal, state and/or foreign governments may restrict the development, use, demand, or exchange of bitcoin and other digital assets. Regulation of digital assets continues to be a priority in both the United States and certain foreign jurisdictions and to evolve with the passage of new regulatory initiatives. Future regulation may restrict the use of bitcoin and other digital assets or otherwise affect the supply and demand for such assets. The market price of digital assets has historically been highly volatile. The price of a digital asset like bitcoin could fall sharply (potentially to zero) for various reasons, including, but not limited to, regulatory changes, issues impacting the bitcoin network, events involving entities that facilitate transactions in bitcoin, or changes in user preferences in favor of alternative digital assets. Furthermore, events that impact one digital asset may lead to a decline in the value of others. Digital asset exchanges and other trading venues on which digital assets trade are relatively new and, in most cases, largely unregulated. Accordingly, digital assets exchanges may be more exposed to fraud and failure than established, regulated exchanges for securities, derivatives and other currencies. Digital assets exchanges are also subject to cyber security risks. Digital asset exchanges have experienced cyber security breaches in the past and may be breached in the future, which could result in the theft and/or loss of digital assets and impact the value of digital asset futures. Furthermore, cyber security events, legal or regulatory actions, fraud, and technical glitches, may cause a digital asset exchange to shut down temporarily or permanently, which may also affect the value of bitcoin, bitcoin futures, and/or other digital assets and related derivative instruments.</span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Shares of ETFs that hold bitcoin, bitcoin futures, and other digital assets and related derivative instruments may trade in the secondary market at a premium to or discount from their NAVs, and an Underlying Fund may purchase or sell shares of such digital asset futures ETFs at prices above or below such NAVs. Because the market price of ETF shares depends in part on the demand in the market for the shares, as well as on the value of the ETF’s component assets, and because the market price of ETF shares is subject to tracking error, the market price of a digital asset futures ETF may be more volatile than the underlying digital asset futures contracts in which the digital asset futures ETF invests. In addition, an Underlying Fund may not be able to liquidate digital asset futures ETF holdings at the time or price desired, which may adversely impact the Underlying Fund’s performance and in turn, the value of the Fund’s investment. Furthermore, there may be times when the exchange halts trading in the shares of a digital asset futures ETF, in which case the Underlying Fund would be unable to sell them until trading is resumed.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Digital Asset Market Volatility Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The price of digital assets remains highly volatile and subject to significant price fluctuations. While recent increases in institutional adoption, clearer regulatory frameworks, and broader market acceptance have contributed to greater stability relative to earlier periods, the price of digital assets continues to be influenced by rapid shifts in market sentiment, regulatory developments, macroeconomic conditions, technological advancements, and unforeseen events. The market price of digital </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">assets has historically experienced dramatic highs and lows over short periods, relative to more traditional asset classes, often with limited or no identifiable catalyst. Given the evolving nature of digital asset markets, price volatility may be amplified by external factors such as changes in global financial markets, geopolitical events, regulatory enforcement actions, or significant technological or security incidents. The value of a digital asset and, therefore, of an Underlying Fund’s digital asset strategy, could decline rapidly, including to zero, which would adversely affect the Underlying Fund’s NAV per share.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Insurance-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The principal risk of investments in insurance-linked securities is that a triggering event (which could include a natural disaster like an earthquake or tornado or a commercial or industrial accident like an aviation disaster or oil spill) occurs, resulting an Underlying Fund losing all or a significant portion of the principal it has invested in the security and the right to additional interest payments with respect to the security. If multiple triggering events occur that impact a significant portion of the portfolio of the Underlying Fund, the Underlying Fund could suffer substantial losses and an investor will lose money. Event-linked or catastrophe bonds carry large uncertainties and major risk exposures to adverse conditions. Certain reinsurance investments may be difficult to value. There is no way to accurately predict whether a triggering event will occur and, because of this significant uncertainty, insurance-linked securities carry a high degree of risk.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Marketplace Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Investments by Underlying Funds in loans sourced through marketplace lending platforms are subject to additional risks than those applicable to investments in loans generally. If a borrower is unable or fails to make payments on a loan for any reason, an Underlying Fund may not have direct recourse against the borrower or may be otherwise limited in its ability to directly enforce its rights under the loan, whether through the borrower or the marketplace lending platform through which the loan was originated. Borrowings obtained through marketplace lending platforms may not limit borrowers from incurring additional debt which may impair the borrower’s ability to repay interest and principal of the original loan. Default history for alternative lending platforms is limited. Future defaults may be higher than historical defaults and the timing of defaults may vary significantly from historical observations. An Underlying Fund may have limited knowledge about the underlying loans to which it has exposure and is dependent upon the platform for information regarding the loans and borrowers’ credit information. Such information may be incomplete, inaccurate or outdated and may, therefore, not accurately reflect the borrowers’ actual creditworthiness. Disruptions in the business of a platform may also negatively impact the value of loans sourced through that platform. Investments in loans sourced through a marketplace lending platform may also be negatively impacted if the platform or a third-party service provider becomes unable or unwilling to fulfill its obligations in servicing the loans.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Subordinated Real Estate Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An Underlying Fund may acquire or originate subordinated real estate loans secured by single family rental properties, including mezzanine loans in the form of subordinated loans secured by a pledge of the ownership interests of either the entity owning such properties or the entity that owns the interest in the entity owning such properties. In the event a borrower defaults on a subordinated loan and lacks sufficient assets to satisfy such loan, the Underlying Fund may suffer a loss of principal or interest. In the event a borrower declares bankruptcy, the Underlying Fund may not have full recourse to the assets of the borrower, or the assets of the borrower may not be sufficient to satisfy the loan. If a borrower defaults on a loan owned by the Underlying Fund or on debt senior to such loan, or in the event of a borrower bankruptcy, such loan will be satisfied only after the senior debt is paid in full. These types of investments may become unsecured as a result of foreclosure by the senior lender.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Real Estate Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Portfolio Turnover Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance The bar chart and table that follow illustrate annual returns for Service Shares of the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The Fund changed its investment strategy on January 19, 2016 and again on May 14, 2017. The performance set forth below prior to such dates is attributable to the previous investment strategies. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® FLEXIBLE INCOME ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 2.25%.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><div style="margin-top:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">8.65</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2022</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-6.16</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0225 Best Quarter: 2020-06-30 0.0865 Worst Quarter: 2022-06-30 -0.0616 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.0373 0.0012 0.0294 Return After Taxes on Distributions 0.0161 -0.0147 0.0147 Return After Taxes on Distributions and Sale of Fund Shares 0.0219 -0.0057 0.0164 Bloomberg U.S. Aggregate Bond Index      (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0730 -0.0036 0.0201 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® CONSERVATIVE INCOME FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Conservative Income Fund (the “Fund”) seeks to</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:120%"> </span>generate current income. As a secondary objective, the Fund seeks capital preservation. Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0055 0.0025 0.0030 0.0010 0.0100 -0.0022 0.0078 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. July 31, 2027 Example The following Example is intended to help you compare the cost of investing in Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Shares of 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 and that the Fund’s operating expenses remain the same. The Example reflects adjustments made to the Fund’s operating expenses due to the fee waiver and/or expense assumption by the Advisor for the 1-year number only. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 80 297 531 1205 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 780% of the average value of its portfolio.</span></div> 7.80 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund invests primarily in a portfolio of actively and passively managed registered mutual funds and exchange-traded funds (“ETFs”), in addition to direct investments. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of investments. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Under normal circumstances, the Fund will make investments in fixed income securities, including cash equivalents, that primarily have a maturity that is between 0 and 5 years. The asset classes in which the Fund may invest, either directly or indirectly via the Underlying Funds, include, but are not limited to, debt securities of governments, government agencies and supranational entities, debt securities of corporations, preferred stock, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations and higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar. In pursuit of the Fund’s secondary investment objective of capital preservation, the Fund expects under normal circumstances to invest a significant portion of its assets in cash and cash equivalents, including by investing approximately 25% to 50% of the Fund’s total assets in money market funds. The Fund may temporarily exceed this target percentage range and may alter the percentage range when it deems appropriate; however, any deviation is not expected to be greater than 10% under normal market circumstances.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In selecting debt securities for the Fund, the Advisor develops an outlook for credit markets, interest rates, currency exchange rates and the economy, analyzes individual credit and prepayment risks, and uses other security selection techniques. The proportion of the Fund’s assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on the Advisor’s outlook for the U.S. economy and the economies of other countries in the world, the financial markets and other factors.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may shift its investments from one asset class to another based on the Advisor’s analysis of the best opportunities for the Fund’s portfolio in a given market. The Fund may invest up to 20% of its total assets in bonds rated below investment grade. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s asset allocation mix may change periodically over time. The Fund does not have a set target asset allocation mix. If the Advisor believes that market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified. In certain circumstances the Fund may be fully invested in cash equivalents securities for an extended period of time.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> In pursuit of the Fund’s secondary investment objective of capital preservation, the Fund expects under normal circumstances to invest a significant portion of its assets in cash and cash equivalents, including by investing approximately 25% to 50% of the Fund’s total assets in money market funds. The Fund may temporarily exceed this target percentage range and may alter the percentage range when it deems appropriate; however, any deviation is not expected to be greater than 10% under normal market circumstances. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, the Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Money Market Funds Risk. </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Although money market funds generally seek to preserve the value of an investment at $1.00 per share, the Fund may lose money by investing in money market funds. A money market fund’s sponsor has no legal obligation to provide financial support to the money market fund. The credit quality of a money market fund’s holdings can change rapidly in certain markets, and the default of a single holding could have an adverse impact on the money market fund's share price. A money market fund’s share price can also be negatively affected during periods of high redemption pressures, illiquid markets and/or significant market volatility.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Notes Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> ETNs are debt securities that are traded on an exchange (e.g., the New York Stock Exchange) whose returns are linked to the performance of a particular market benchmark or strategy. An ETN generally reflects the risks associated with the assets composing the underlying market benchmark or strategy it is designed to track. ETNs also are subject to issuer and fixed-income risks.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by a nationally recognized statistical rating organizations (“NRSRO”). Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. For example, Connecticut Avenue Securities issued by the Federal National Mortgage Association and Structured Agency Credit Risk debt notes issued by the Federal Home Loan Mortgage Association carry no guarantee whatsoever and the risk of default associated with these securities would be borne by the Fund. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Non-U.S. Government Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> For non-U.S. government obligations, there is the risk that payments on a security will not be made when due, or the value of such security will decline, because the security is not issued or guaranteed as to principal or interest by the U.S. government or by agencies or authorities controlled or supervised by and acting as instrumentalities of the U.S. government or supported by the right of the issuer to borrow from the U.S. government.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Collateralized Debt Obligations Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Collateralized debt obligations (“CDOs”) are subject to the following risks: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or quality or go into default or be downgraded; (iii) a Fund may invest in tranches of a CDO that are subordinate to other classes; and (iv) the risk of disputes with the issuer, difficulty in valuing the security or unexpected investment results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Preferred Stock Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">A preferred stock may decline in price, or fail to pay dividends when expected, because the issuer experiences a decline in its financial status. Preferred stocks often behave like debt securities but have a lower payment priority than the issuer’s bonds or other debt securities. Therefore, they may be subject to greater credit risk than those of debt securities. Preferred stocks also may be significantly less liquid than many other securities, such as corporate debt or common stock.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Convertible Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The value of convertible securities may fall when interest rates rise and increase when interest rates fall. The prices of convertible securities with longer maturities tend to be more volatile than those with shorter maturities. Value also tends to </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">change whenever the market value of the underlying common or preferred stock fluctuates. The Fund could lose money if the issuer of a convertible security is unable to meet its financial obligations.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Payments on mortgage- and asset-backed securities depend upon assets held by the issuer and collections on the underlying mortgages or loans. Issuers of asset-backed securities may have limited ability to enforce the security interest in the underlying assets, and credit enhancements provided to support the securities, if any, may be inadequate to protect investors in the event of default. Mortgage- and asset-backed securities are also subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, a Fund may have to replace the security by investing the proceeds in a less attractive security. In certain market conditions, asset-backed securities may experience volatile fluctuations in value and periods of illiquidity.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Extension Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: As interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply. Interest-only and principal-only securities are especially sensitive to interest rate changes, which can affect not only their prices but can also change the income flows and repayment assumptions about those investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Inflation-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Unlike traditional fixed income securities, the principal and interest payments of inflation-linked securities are adjusted periodically based on the inflation rate. The value of the Fund’s inflation-linked securities may be vulnerable to changes in expectations of inflation or interest rates and there is no guarantee that the Fund’s use of these instruments will be successful.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Municipal Securities Risk: </span>The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Loan Risk</span>: Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Portfolio Turnover Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance The bar chart and table that follow illustrate annual returns for the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® CONSERVATIVE INCOME FUND Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Shares as of June 30, 2026 was 1.24%.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended December 31, 2023</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">1.64</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2022</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-1.25</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table> year-to-date performance 2026-06-30 0.0124 Best Quarter: 2023-12-31 0.0164 Worst Quarter: 2022-03-31 -0.0125 Average Annual Total Returns for Periods Ended December 31, 2025 2018-04-30 Return Before Taxes 0.0348 0.0226 0.0185 Return After Taxes on Distributions 0.0187 0.0106 0.0088 Return After Taxes on Distributions and Sale of Fund Shares 0.0204 0.0121 0.0100 Bloomberg U.S. Treasury 1-3 Year Bond Index       (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0517 0.0175 0.0227 Bloomberg U.S. Aggregate Bond Index      (reflects no deduction for fees, expenses or taxes) 0.0730 -0.0036 0.0211 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® INCOME FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Income Fund (the “Fund”) seeks to generate current income.</span></div> Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0045 0 0.0038 0.0025 0.0013 0.0016 0.0099 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 101 315 547 1213 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 344% of the average value of its portfolio.</span></div> 3.44 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund invests primarily in a portfolio of actively and passively managed registered mutual funds, exchange-traded funds (“ETFs”) and closed-end funds, in addition to direct investments in securities and certain derivatives. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of investments. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from volatility-managed and income-focused asset allocation approaches. These approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek high total return and income, managed to contain the potential magnitude of drawdowns in high volatility markets. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in various types of domestic and international fixed income securities, domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and cash equivalent money market securities. The Fund invests in fixed income securities that primarily have a maturity that is between 1 and 10 years and are rated BBB- or higher, or are unrated and deemed to be of comparable quality by the Advisor; provided, however, that the Fund may invest up to 50% of its total assets in bonds rated below investment grade. Under normal circumstances, the Fund’s portfolio will have an average duration of 2 to 5 years. In some instances, the Fund’s average duration may exceed this range but is not expected to exceed that of the Bloomberg US Aggregate Bond Index. Duration is a measurement of price sensitivity to interest rate changes. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The asset classes in which the Fund may invest, either directly or indirectly via the Underlying Funds, include, but are not limited to, debt securities of governments, government agencies and supranational entities, debt securities of corporations, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations, higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt, preferred stock, dividend-paying securities of small- and large-capitalization companies, business development companies (“BDCs”), publicly traded real estate investment trusts (“REITs”), non-traded unregistered REITs, ETFs, and pooled investment funds including private investment funds that are not registered under the 1940 Act (“private funds”) that provide exposure to pools of whole loans, including those sourced through peer-to-peer or marketplace lending platforms. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar. Under normal circumstances, the Fund will make investments in fixed income securities that primarily have a maturity that is between 1 and 10 years.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In selecting debt securities for the Fund, the Advisor develops an outlook for credit markets, interest rates, currency exchange rates and the economy, analyzes individual credit and prepayment risks, and uses other security selection techniques. The proportion of the Fund’s assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on the Advisor’s outlook for the U.S. economy and the economies of other countries in the world, the financial markets and other factors.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may allocate assets to ETFs that provide exposure to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis. The ETFs in which the Fund may invest include those that invest primarily in senior bank loans (also referred to as leveraged loans). The Fund may also invest in inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may engage in a strategy of purchasing and selling (writing) call and put options on indexes or ETFs (hereafter referred to as "call options" and "put options"). The writer of a call option receives cash (the “premium”) from the purchaser. In return, the purchaser of a call option has the right to any appreciation in the value of the underlying index or ETF over a fixed price (the “exercise price”) on a certain date in the future (the “expiration date”). If the purchaser does not exercise the option, the writer of the option retains the premium. If the purchaser exercises the option, the writer of the option pays the purchaser the difference between the value of the underlying index or ETF and the exercise price of the option. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of a call option generally increases as the prices of the stocks constituting the underlying index or ETF increases, and decreases as those stocks decrease in price. Conversely, the value of a put option generally increases as the prices of the stocks constituting the underlying index or ETF decrease, and decreases as those stocks increase in price. The premium, the exercise price and the value of the underlying index or ETF will determine the gain or loss realized by the Fund on a written or purchased option. When the Fund has written an option, it generally can repurchase the option prior to the expiration date, ending its obligation. In such case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund. While writing call options may reduce the Fund’s volatility and provide a source of steady cash flow, it may also reduce the Fund’s ability to profit from increases in the value of the underlying index or ETF.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Using the proceeds from its written call options, the Fund may buy put options in an attempt to hedge against a significant market decline in the underlying index or ETF that may occur over a short period of time. In addition, the Fund may write call options or put options on the underlying indexes of the ETFs in which the Fund is invested. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies. The Fund may also invest directly in futures contracts. It is anticipated that the Fund may have net economic leverage of up to 30% of the Fund’s total assets through its investments in closed-end funds, leveraged ETFs and ETNs, and certain derivatives, such as options and futures contracts.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to change frequently over time. The Fund does not have a set target asset allocation mix among equities, fixed income securities and cash equivalent investments. If the Advisor believes that the stock market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes such as fixed income or cash equivalent securities. The Advisor also has broad latitude to allocate assets to equity </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified. In certain circumstances the Fund may be fully invested in cash equivalent securities for an extended period of time. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in various types of domestic and international fixed income securities, domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and cash equivalent money market securities. The Fund invests in fixed income securities that primarily have a maturity that is between 1 and 10 years and are rated BBB- or higher, or are unrated and deemed to be of comparable quality by the Advisor; provided, however, that the Fund may invest up to 50% of its total assets in bonds rated below investment grade. Under normal circumstances, the Fund’s portfolio will have an average duration of 2 to 5 years. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Closed-End Fund Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Closed-end funds involve investment risks different from those associated with other investment companies. The shares of closed-end funds frequently trade at a premium or discount relative to their net asset value, and many closed-end funds use leverage, or borrowed money, to try to increase returns. In addition, distributions by a closed-end fund may include a return of capital, which would reduce the fund’s net asset value and its earnings capacity. Finally, closed-end funds are allowed to invest in a greater amount of illiquid investments than open-end mutual funds.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Business Development Company Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">BDCs are closed-end investment companies that have elected to register as BDCs. Shareholders bear both their proportionate share of the Fund’s expenses and similar expenses of the BDC when the fund invests in shares of the BDC. BDCs primarily invest in privately-held and small- to medium- capitalization public companies and are generally considered to be non-rated or below investment grade. The fair values of these investments often are not readily determinable. This could cause the Fund’s investments in a BDC to be inaccurately valued, including overvalued. BDC revenues, income (or losses) and valuations can, and often do, fluctuate suddenly and dramatically, and they face considerable risk of loss. In addition, BDCs often borrow funds to make investments and, as a result, are exposed to the risks of leverage. Leverage magnifies the potential loss on amounts invested and therefore increases the risks associated with an investment in a BDC’s securities</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Notes Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: ETNs are debt securities that are traded on an exchange (e.g., the New York Stock Exchange) whose returns are linked to the performance of a particular market benchmark or strategy. An ETN generally reflects the risks associated with the assets composing the underlying market benchmark or strategy it is designed to track. ETNs also are subject to issuer and fixed-income risks.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Leveraged and Inverse ETF/ETN Risk</span>: Inverse ETFs/ETNs generally use derivatives and short sales that, in combination, are designed to produce returns that move in the opposite direction of the indices they track. To the extent the Fund invests in ETFs/ETNs that seek to provide investment results that are the inverse of the performance of an underlying index, the Fund will indirectly be subject to the risk that the performance of such ETF/ETN will fall as the performance of that ETF or ETN’s benchmark rises, a result that is the opposite from traditional mutual funds. The Fund’s use of leveraged and inverse-leveraged ETFs and ETNs has the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in these instruments at all. <span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Private Funds Risk:</span><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund’s investment in private funds will require it to bear a pro rata share of the vehicles’ expenses, including management and performance fees. The fees the Fund pays to invest in a private fund may be higher than if the manager of the private fund managed the Fund’s assets directly. Furthermore, private funds, like the other Underlying Funds in which the Fund may invest, are subject to specific risks, depending on the nature of the vehicle, and also may employ leverage such that their returns are more than one times that of their benchmark which could amplify losses suffered by the Fund when compared to unleveraged investments.  </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Shareholders of the private funds are not entitled to the protections of the 1940 Act. The majority of private funds permit redemptions only quarterly (although others are more frequent) and these withdrawal limitations restrict the Advisor’s ability to terminate investments in private funds. Additionally, because private funds are not publicly traded, the Fund’s investments in them may be more difficult to value than the Fund’s investments in publicly traded securities.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by a nationally recognized statistical rating organizations (“NRSRO”). Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Collateralized Debt Obligations Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Collateralized debt obligations (“CDOs”) are subject to the following risks: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or quality or go into default or be downgraded; (iii) a Fund may invest in tranches of a CDO that are subordinate to other classes; and (iv) the risk of disputes with the issuer, difficulty in valuing the security or unexpected investment results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Preferred Stock Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">A preferred stock may decline in price, or fail to pay dividends when expected, because the issuer experiences a decline in its financial status. Preferred stocks often behave like debt securities but have a lower payment priority than the issuer’s bonds or other debt securities. Therefore, they may be subject to greater credit risk than those of debt securities. Preferred stocks also may be significantly less liquid than many other securities, such as corporate debt or common stock.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Convertible Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The value of convertible securities may fall when interest rates rise and increase when interest rates fall. The prices of convertible securities with longer maturities tend to be more volatile than those with shorter maturities. Value also tends to change whenever the market value of the underlying common or preferred stock fluctuates. The Fund could lose money if the issuer of a convertible security is unable to meet its financial obligations.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Payments on mortgage- and asset-backed securities depend upon assets held by the issuer and collections on the underlying mortgages or loans. Issuers of asset-backed securities may have limited ability to enforce the security interest in the underlying assets, and credit enhancements provided to support the securities, if any, may be inadequate to protect investors in the event of default. Mortgage- and asset-backed securities are also subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, a Fund may have to replace the security by investing the proceeds in a less attractive security. In certain market conditions, asset-backed securities may experience volatile fluctuations in value and periods of illiquidity.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Extension Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: As interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply. Interest-only and principal-only securities are especially sensitive to interest rate changes, which can affect not only their prices but can also change the income flows and repayment assumptions about those investments.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Inflation-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Unlike traditional fixed income securities, the principal and interest payments of inflation-linked securities are adjusted periodically based on the inflation rate. The value of the Fund’s inflation-linked securities may be vulnerable to changes in expectations of inflation or interest rates and there is no guarantee that the Fund’s use of these instruments will be successful.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Equity Risk.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Options Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s options positions will fluctuate in response to changes in the value of the underlying securities. Writing call options limits the opportunity to profit from an increase in the market value of stocks in exchange for up-front cash at the time of selling the call option. In addition, the Fund continues to bear the risk of declines in the underlying securities on which the option is written. When purchasing put options, the Fund risks losing all or part of the cash paid for purchasing the option. As the writer of a put option, the Fund has a risk of loss should the underlying securities decline in value. If the value of the underlying securities declines below the exercise price of the put option and the put option is exercised, the Fund, as the writer of the put option, will be required to buy the underlying securities at the exercise price, and the Fund will incur a loss to the extent that the current market value of the underlying securities is less than the exercise price of the put option. However, the loss will be offset in part by the premium received from the buyer of the put option. Unusual market conditions or the lack of a ready market for any particular option at a specific time may reduce the effectiveness of the Fund’s option strategies, and for these and other reasons the Fund’s option strategies may not reduce the Fund’s volatility to the extent desired.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Leverage Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in closed-end funds, leveraged ETFs and ETNs, and derivatives such as futures contracts, forward contracts and swaps have the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying a derivatives instrument and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in derivatives at all.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. For example, Connecticut Avenue Securities issued by the Federal National Mortgage Association and Structured Agency Credit Risk debt notes issued by the Federal Home Loan Mortgage Association carry no guarantee whatsoever and the risk of default associated with these securities would be borne by the Fund. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Non-U.S. Government Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> For non-U.S. government obligations, there is the risk that payments on a security will not be made when due, or the value of such security will decline, because the security is not issued or guaranteed as to principal or interest by the U.S. government or by agencies or authorities controlled or supervised by and acting as instrumentalities of the U.S. government or supported by the right of the issuer to borrow from the U.S. government.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Municipal Securities Risk:</span> The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Senior Loan Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Investments in senior loans are subject to loan risk generally. Senior loans typically are below investment grade and are considered speculative because of the credit risk of their issuers. Their issuers are more likely to default on their payments of interest and principal owed, and such defaults could reduce the Fund’s NAV and income distributions. In addition, the Fund may have to sell securities at lower prices than it otherwise would to meet cash needs or it may have to maintain a greater portion of its assets in cash equivalents than it otherwise would because of impairments and limited liquidity of the collateral supporting a senior loan, which could negatively affect the Fund’s performance. Newly originated variable rate securities (including reissuances and restructured loans) may possess lower levels of credit document protections than has historically been the case. Accordingly, in the event of default the Fund may experience lower levels of recoveries than has historically been the norm.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Marketplace Loan Risk: </span>Investments in loans sourced through marketplace lending platforms are subject to additional risks than those applicable to investments in loans generally. An Underlying Fund may not have direct recourse against the borrower or may be otherwise limited in its ability to directly enforce its rights under the loan. Default history for alternative lending platforms is limited. Future defaults may be higher than historical defaults and the timing of defaults may vary significantly from historical observations. An Underlying Fund may have limited knowledge about the underlying loans to which it has exposure and is dependent upon the platform for information regarding the loans and borrowers’ credit information. Such information may be incomplete, inaccurate or outdated and may, therefore, not accurately reflect the borrowers’ actual creditworthiness. In addition, investments in loans sourced through a marketplace lending platform may also be negatively impacted if the platform or a third-party service provider becomes unable or unwilling to fulfill its obligations in servicing the loans. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Real Estate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of real estate-linked derivative instruments and other real estate-related securities such as REITs may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Portfolio Turnover Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance The bar chart and table that follow illustrate annual returns for the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® INCOME FUND Calendar Year Return as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Shares as of June 30, 2026 was -0.29%.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended December 31, 2023</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">5.93</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2022</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-6.82</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table> year-to-date performance 2026-06-30 -0.0029 Best Quarter: 2023-12-31 0.0593 Worst Quarter: 2022-03-31 -0.0682 Average Annual Total Returns for Periods Ended December 31, 2025 2018-04-30 Return Before Taxes 0.0627 -0.0012 0.0098 Return After Taxes on Distributions 0.0447 -0.0140 -0.0018 Return After Taxes on Distributions and Sale of Fund Shares 0.0371 -0.0064 0.0026 Bloomberg U.S. Aggregate Bond Index      (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0730 -0.0036 0.0211 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® GROWTH AND INCOME FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">® </span>Growth and Income Fund (the “Fund”) seeks capital appreciation. As a secondary objective, the Fund seeks to generate current income. Fees and Expenses of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0045 0 0.0038 0.0025 0.0013 0.0004 0.0001 0.0088 July 31, 2027 Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in Shares of 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 and that the Fund’s operating expenses remain the same. The Example reflects adjustments made to the Fund's operating expenses due to the expense recoupment by the Advisor for the 1-year number only. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 90 279 483 1073 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 92% of the average value of its portfolio.</span></div> 0.92 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund invests primarily in a portfolio of actively and passively managed registered mutual funds, exchange-traded funds (“ETFs”), closed-end funds and business development companies (“BDCs”), in addition to direct investments. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of investments. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor may invest in securities of companies of various market capitalizations. The Fund considers “large capitalization companies” to be companies, whose market capitalizations are within the range of the market capitalizations in the Russell 1000</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Index as of its most recent annual index reconstitution. The Fund considers “small-to-medium capitalization companies” to be companies, whose market capitalizations are within the range of the market capitalizations in the Russell 2500</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:4.87pt;font-weight:400;line-height:120%;position:relative;top:-2.62pt;vertical-align:baseline">TM</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Index as of its most recent annual index reconstitution.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from volatility-managed and income-focused asset allocation approaches. These approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek high total return and income, managed to contain the potential magnitude of drawdowns in high volatility markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in various types of domestic and international fixed income securities, domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and cash equivalent money market securities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The asset classes in which the Fund may invest, either directly or indirectly via the Underlying Funds, include, but are not limited to, debt securities of governments, government agencies and supranational entities, debt securities of corporations, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations and higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. The Fund may invest in debt securities of any maturity or quality. The Fund may invest in equity securities which include domestic and foreign common and preferred stock, convertible debt securities, American Depositary Receipts (“ADRs”), business development companies (“BDCs”), Master Limited Partnerships (“MLPs”), publicly traded real estate investment trusts (“REITs”), non-traded unregistered REITs, ETFs and pooled investment funds including private investment funds that are not registered under the 1940 Act (“private funds”) that provide exposure to pools of whole loans, including those sourced through peer-to-peer or marketplace lending platforms. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">MLPs are businesses organized as limited partnerships that trade their proportionate shares of the partnership (units) on a public exchange.  MLPs are required to pay out most or all of their earnings in distributions. The Fund may invest up to 30% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">In selecting debt securities for the Fund, the Advisor develops an outlook for credit markets, interest rates, currency exchange rates and the economy, analyzes individual credit and prepayment risks, and uses other security selection techniques. The proportion of the Fund’s assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on the Advisor’s outlook for the U.S. economy and the economies of other countries in the world, the financial markets and other factors.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may allocate assets to ETFs that provide exposure to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis. The Fund may also invest in inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may, at the discretion of the Advisor, engage in a strategy of purchasing and selling (writing) call and put options on indexes or ETFs (hereafter referred to as "call options" and "put options"). The writer of a call option receives cash (the “premium”) from the purchaser. In return, the purchaser of a call option has the right to any appreciation in the value of the underlying index or ETF over a fixed price (the “exercise price”) on a certain date in the future (the “expiration date”). If the purchaser does not exercise the option, the writer of the option retains the premium. If the purchaser exercises the option, the writer of the option pays the purchaser the difference between the value of the underlying index or ETF and the exercise price of the option. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of a call option generally increases as the prices of the stocks constituting the underlying index or ETF increases, and decreases as those stocks decrease in price. Conversely, the value of a put option generally increases as the prices of the stocks constituting the underlying index or ETF decrease, and decreases as those stocks increase in price. The premium, the exercise price and the value of the underlying index or ETF will determine the gain or loss realized by the Fund on a written or purchased option. When the Fund has written an option, it generally can repurchase the option prior to the expiration date, ending its obligation. In such case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund. While writing call options may reduce the Fund’s volatility and provide a source of steady cash flow, it may also reduce the Fund’s ability to profit from increases in the value of the underlying index or ETF.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Using the proceeds from its written call options, the Fund may buy put options in an attempt to hedge against a significant market decline in the underlying index or ETF that may occur over a short period of time. In addition, the Fund may write call options or put options on the underlying indexes of the ETFs in which the Fund is invested. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies. The Fund may also invest directly in futures contracts. The Fund may, at the discretion of the Advisor, use futures contracts as a means to implement a volatility-managed strategy. The Fund's volatility targeting component attempts to balance upside return potential </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">during periods of relative market stability while seeking to mitigate losses during periods of heightened market volatility. It is anticipated that the Fund may have net economic leverage of up to 30% of the Fund’s total assets through its investments in closed-end funds, leveraged ETFs and ETNs, and certain derivatives, such as options and futures contracts.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to change frequently over time. The Fund does not have a set target asset allocation mix among equities, fixed income securities and cash equivalent investments.  If the Advisor believes that the stock market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes such as fixed income or cash equivalent securities. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified. In certain circumstances the Fund may be substantially or fully invested in cash equivalent securities for an extended period of time. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> The Fund may invest up to 30% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Fund of Funds Risk:</span> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Growth Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Closed-End Fund Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Closed-end funds involve investment risks different from those associated with other investment companies. The shares of closed-end funds frequently trade at a premium or discount relative to their net asset value, and many closed-end funds use leverage, or borrowed money, to try to increase returns. In addition, distributions by a closed-end fund may include a return of capital, which would reduce the fund’s net asset value and its earnings capacity. Finally, closed-end funds are allowed to invest in a greater number of illiquid investments than open-end mutual funds.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Business Development Company Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">BDCs are closed-end investment companies that have elected to register as BDCs. Shareholders bear both their proportionate share of the Fund’s expenses and similar expenses of the BDC when the fund invests in shares of the BDC. BDCs primarily invest in privately-held and small- to medium- capitalization public companies and are generally considered to be non-rated or below investment grade. The fair values of these investments often are not readily determinable. This could cause the Fund’s investments in a BDC to be inaccurately valued, including overvalued. BDC revenues, income (or losses) and valuations can, and often do, fluctuate suddenly and dramatically, and they face considerable risk of loss. In addition, BDCs often borrow funds to make investments and, as a result, are exposed to the risks of leverage. Leverage magnifies the potential loss on amounts invested and therefore increases the risks associated with an investment in a BDC’s securities</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Exchange-Traded Notes Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">ETNs are debt securities that are traded on an exchange (e.g., the New York Stock Exchange) whose returns are linked to the performance of a particular market benchmark or strategy. An ETN generally reflects the risks associated with the assets composing the underlying market benchmark or strategy it is designed to track. ETNs also are subject to issuer and fixed-income risks.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Leveraged and Inverse ETF/ETN Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Inverse ETFs/ETNs generally use derivatives and short sales that, in combination, are designed to produce returns that move in the opposite direction of the indices they track. To the extent the Fund invests in ETFs/ETNs that seek to provide investment results that are the inverse of the performance of an underlying index, the Fund will indirectly be subject to the risk that the performance of such ETF/ETN will fall as the performance of that ETF or ETN’s benchmark rises, a result that is the opposite </span>from traditional mutual funds. The Fund’s use of leveraged and inverse-leveraged ETFs and ETNs has the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in these instruments at all. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Private Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund’s investment in private funds will require it to bear a pro rata share of the vehicles’ expenses, including management and performance fees. The fees the Fund pays to invest in a private fund may be higher than if the manager of the private fund managed the Fund’s assets directly. Furthermore, private funds, like the other Underlying Funds in which the Fund may invest, are subject to specific risks, depending on the nature of the vehicle, and also may employ leverage such that their returns are more than one times that of their benchmark which could amplify losses suffered by the Fund when compared to unleveraged investments.  Shareholders of the private funds are not entitled to the protections of the 1940 Act. The majority of private funds permit redemptions only quarterly (although others are more frequent) and these withdrawal limitations restrict the Advisor’s ability to terminate investments in private funds. Additionally, because private funds are not publicly traded, the Fund’s investments in them may be more difficult to value than the Fund’s investments in publicly traded securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by a nationally recognized statistical rating organizations (“NRSRO”). Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Collateralized Debt Obligations Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Collateralized debt obligations (“CDOs”) are subject to the following risks: (i) the possibility that distributions from collateral securities will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or quality or go into default or be downgraded; (iii) a Fund may invest in tranches of a CDO that are subordinate to other classes; and (iv) the risk of disputes with the issuer, difficulty in valuing the security or unexpected investment results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Preferred Stock Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">A preferred stock may decline in price, or fail to pay dividends when expected, because the issuer experiences a decline in its financial status. Preferred stocks often behave like debt securities but have a lower payment priority than the issuer’s bonds or other debt securities. Therefore, they may be subject to greater credit risk than those of debt securities. Preferred stocks also may be significantly less liquid than many other securities, such as corporate debt or common stock.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Convertible Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The value of convertible securities may fall when interest rates rise and increase when interest rates fall. The prices of convertible securities with longer maturities tend to be more volatile than those with shorter maturities. Value also tends to change whenever the market value of the underlying common or preferred stock fluctuates. The Fund could lose money if the issuer of a convertible security is unable to meet its financial obligations.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Payments on mortgage- and asset-backed securities depend upon assets held by the issuer and collections on the underlying mortgages or loans. Issuers of asset-backed securities may have limited ability to enforce the security interest in the underlying assets, and credit enhancements provided to support the securities, if any, may be inadequate to protect investors in the event of default. Mortgage- and asset-backed securities are also subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, a Fund may have to replace the security by investing the proceeds in a less attractive security. In certain market conditions, asset-backed securities may experience volatile fluctuations in value and periods of illiquidity.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Extension Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: As interest rates rise, repayments of principal on certain debt securities, including, but not limited to, floating rate loans and mortgage-related securities, may occur at a slower rate than expected and the expected maturity of those securities could lengthen as a result. Securities that are subject to extension risk generally have a greater potential for loss when prevailing interest rates rise, which could cause their values to fall sharply. Interest-only and principal-only securities are especially sensitive to interest rate changes, which can affect not only their prices but can also change the income flows and repayment assumptions about those investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Inflation-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">Unlike traditional fixed income securities, the principal and interest payments of inflation-linked securities are adjusted periodically based on the inflation rate. The value of the Fund’s inflation-linked securities may be vulnerable to changes in expectations of inflation or interest rates and there is no guarantee that the Fund’s use of these instruments will be successful.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Real Estate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The value of real estate-linked derivative instruments and other real estate-related securities such as REITs may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Equity Risk.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Options Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of the Fund’s options positions will fluctuate in response to changes in the value of the underlying securities. Writing call options limits the opportunity to profit from an increase in the market value of stocks in exchange for up-front cash at the time of selling the call option. In addition, the Fund continues to bear the risk of declines in the underlying securities on which the option is written. When purchasing put options, the Fund risks losing all or part of the cash paid for purchasing the option. As the writer of a put option, the Fund has a risk of loss should the underlying securities decline in value. If the value of the underlying securities declines below the exercise price of the put option and the put option is exercised, the Fund, as the writer of the put option, will be required to buy the underlying securities at the exercise price, and the Fund will incur a loss to the extent that the current market value of the underlying securities is less than the exercise price of the put option. However, the loss will be offset in part by the premium received from the buyer of the put option. Unusual market conditions or the lack of a ready market for any particular option at a specific time may reduce the effectiveness of the Fund’s option strategies, and for these and other reasons the Fund’s option strategies may not reduce the Fund’s volatility to the extent desired.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Leverage Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund’s investments in closed-end funds, leveraged ETFs and ETNs, and derivatives such as futures contracts, forward contracts and swaps have the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class underlying a derivatives instrument and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in derivatives at all.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. For example, Connecticut Avenue Securities issued by the Federal National Mortgage Association and Structured Agency Credit Risk debt notes issued by the Federal Home Loan Mortgage Association carry no guarantee whatsoever and the risk of default associated with these </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">securities would be borne by the Fund. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Non-U.S. Government Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> For non-U.S. government obligations, there is the risk that payments on a security will not be made when due, or the value of such security will decline, because the security is not issued or guaranteed as to principal or interest by the U.S. government or by agencies or authorities controlled or supervised by and acting as instrumentalities of the U.S. government or supported by the right of the issuer to borrow from the U.S. government.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Municipal Securities Risk:</span> The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> The value of an investment in a loan is entirely dependent on the borrower’s continued and timely payments. If a borrower fails to make interest payments or repay principal when due on a loan in which the Fund has direct or indirect investment exposure, or if the value of a loan decreases, the value of the Fund’s investment will be adversely affected. Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Marketplace Loan Risk: </span>Investments in loans sourced through marketplace lending platforms are subject to additional risks than those applicable to investments in loans generally. An Underlying Fund may not have direct recourse against the borrower or may be otherwise limited in its ability to directly enforce its rights under the loan. Default history for alternative lending platforms is limited. Future defaults may be higher than historical defaults and the timing of defaults may vary significantly from historical observations. An Underlying Fund may have limited knowledge about the underlying loans to which it has exposure and is dependent upon the platform for information regarding the loans and borrowers’ credit information. Such information may be incomplete, inaccurate or outdated and may, therefore, not accurately reflect the borrowers’ actual creditworthiness. In addition, investments in loans sourced through a marketplace lending platform may also be negatively impacted if the platform or a third-party service provider becomes unable or unwilling to fulfill its obligations in servicing the loans. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Master Limited Partnership Risk.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> Investing in Master Limited Partnerships (“MLPs”) entails risk related to fluctuations in energy prices, decreases in supply of or demand for energy commodities, unique tax consequences due to the partnership structure and various other risks.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance The bar chart and table that follow illustrate annual returns for the Fund for the periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® GROWTH AND INCOME FUND Calendar Year Return as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">The year-to-date performance of the Fund’s Shares as of June 30, 2026 was 10.32%.</span></div><div style="margin-top:6pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><div style="margin-bottom:3pt;margin-top:9pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.492%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">11.74</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-16.96</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.1032 Best Quarter: 2020-06-30 0.1174 Worst Quarter: 2020-03-31 -0.1696 Average Annual Total Returns for Periods Ended December 31, 2025 2018-04-30 Return Before Taxes 0.0917 0.0936 0.0806 Return After Taxes on Distributions 0.0542 0.0744 0.0662 Return After Taxes on Distributions and Sale of Fund Shares 0.0742 0.0695 0.0608 MSCI USA High Dividend Yield Index   (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.1197 0.0941 0.0915 S&P 500® Index       (reflects no deduction for fees, expenses or taxes) 0.1788 0.1442 0.1505 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. 2026-07-31 GUIDEPATH® GROWTH ALLOCATION FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">® </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Growth Allocation Fund (the “Fund”) seeks to maximize total return, consisting of a combination of long-term capital appreciation and current income, while moderating risk and volatility in the portfolio.</span></div> Fees and Expenses of the Fund <div style="margin-bottom:5pt;margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0 0.0121 0.0100 0.0021 0.0015 0.0161 The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in RS Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in RS Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 164 508 876 1911 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">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 fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 12% of the average value of its portfolio.</span></div> 0.12 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund operates as a fund of funds, investing primarily in registered mutual funds, including exchange-traded funds (“ETFs”). The Fund may also invest in closed-end funds, including unlisted interval funds. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” The Advisor believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In seeking to maximize total return, under normal circumstances, the Fund’s assets are allocated, either directly or indirectly via the Underlying Funds, among various asset classes, including domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and domestic and international fixed income securities. The intention is to capture broad capital market returns, while seeking to balance the pursuit of maximum total return against the control of risk in the portfolio.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In addition to the general allocation into equity, fixed income and cash equivalent asset classes, the Fund’s assets are also typically allocated among a variety of sub-asset classes. The Fund’s equity investments typically include, either directly or indirectly via the Underlying Funds, a mix of weightings of larger and smaller capitalization equity securities, growth and value stocks, and equity securities from developed and emerging international markets. The Fund’s fixed income investments may be expected to be allocated, either directly or indirectly via the Underlying Funds, among corporate bonds, mortgage-backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and to higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. Typically, a significant portion of the Fund’s fixed income allocation will be in non-investment grade fixed income investments with varying maturities.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Advisor’s asset allocation decisions are based on different factors and analytical approaches, derived from asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to generally remain consistent for longer periods of time. Under normal circumstances, the Fund is expected to allocate between 65% and 100% of its assets to equity securities or investments that provide exposure to equity securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities or investments that provide exposure to equity securities and its target allocation to fixed income securities or investments that provide exposure to fixed income securities, including cash equivalents. The Fund also may allocate significant assets to international equity markets: up to 45% to developed international markets and up to 35% to emerging markets.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to enhance returns, to manage or adjust the risk profile of the Underlying Fund, to replace more traditional direct investments, or to obtain exposure to certain markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> Under normal circumstances, the Fund is expected to allocate between 65% and 100% of its assets to equity securities or investments that provide exposure to equity securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities or investments that provide exposure to equity securities and its target allocation to fixed income securities or investments that provide exposure to fixed income securities, including cash equivalents. The Fund also may allocate significant assets to international equity markets: up to 45% to developed international markets and up to 35% to emerging markets. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Interest Rate Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies.</span> The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. GUIDEPATH® GROWTH ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 11.68%.</span></div><div style="margin-top:3pt;text-align:justify"><span><br/></span></div><div><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="padding-left:103.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.451%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">21.01</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-20.68</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.1168 Best Quarter: 2020-06-30 0.2101 Worst Quarter: 2020-03-31 -0.2068 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.1959 0.1011 0.1091 Return After Taxes on Distributions 0.1825 0.0917 0.0986 Return After Taxes on Distributions and Sale of Fund Shares 0.1247 0.0784 0.0867 S&P® Target Risk Aggressive Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.2005 0.0958 0.1025 MSCI All Country World Index (ACWI)(reflects no deduction for fees, expenses or taxes) 0.2287 0.1170 0.1228 Service Shares performance reflects any applicable fee waiver and/or expense reimbursements. The RS Shares have higher ongoing expenses than the Service Shares. Returns for the RS Shares are expected to be lower than the returns of the Service Shares shown due to differences in their expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. GUIDEPATH® CONSERVATIVE ALLOCATION FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Conservative Allocation Fund (the “Fund”) seeks to maximize total return, consisting of a combination of long-term capital appreciation and current income, while moderating risk and volatility in the portfolio.</span></div> Fees and Expenses of the Fund <div style="margin-bottom:5pt;margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0 0.0132 0.0100 0.0032 0.0015 0.0172 The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in RS Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in RS Shares of 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, and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 175 542 933 2030 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 30% of the average value of its portfolio.</span></div> 0.30 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund operates as a fund of funds, investing primarily in registered mutual funds, including exchange-traded funds (“ETFs”). The Fund may also invest in closed-end funds, including unlisted interval funds. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” The Advisor believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In seeking to maximize total return, under normal circumstances, the Fund’s assets are allocated, either directly or indirectly via the Underlying Funds, into a diversified portfolio consisting of domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and domestic and international fixed income securities. The intention is to capture broad capital market returns over the long term, while seeking to balance the pursuit of maximum total return against the control of risk in the portfolio. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In addition to the general strategic allocation into equity, fixed income and cash equivalent asset classes, the Fund’s assets are also typically allocated among a variety of sub-asset classes. The Fund’s equity investments typically include, either directly or indirectly via the Underlying Funds, a mix of weightings of larger and smaller capitalization equity securities, growth and value stocks, and equity securities from developed and emerging international markets. The Fund’s fixed income investments may be expected to be allocated, either directly or indirectly via the Underlying Funds, among corporate bonds, mortgage-backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and to higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. A significant portion of the Fund’s fixed income allocation may be in non-investment grade fixed income investments with varying maturities. The Fund may also allocate a portion of its assets to commodities-related investments.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Under normal circumstances, the Fund is expected to allocate between 15% and 55% of its assets to equity securities and investments that provide exposure to equity securities and between 45% and 85% of its assets to fixed income securities and investments that provide exposure to fixed income securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions or short-term market opportunities. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities and investments that provide exposure to equity securities and its target allocation to fixed income securities and investments that provide exposure to fixed income securities, including cash equivalents. For example, if the Advisor believes that the stock market is undervalued, it may increase the equity allocation, or if the Advisor believes that the stock market is overvalued, it may decrease the equity allocation. Within these ranges, the Advisor has the ability to overweight or underweight certain asset classes in pursuit of increased return or reduced risk in the short to intermediate term. The Fund’s portfolio will be rebalanced periodically as a result of asset class performance causing drift away from the targeted asset allocation mix.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may invest in Underlying Funds that use derivatives to earn income and enhance returns, to manage or adjust their risk profile, to replace more traditional direct investments, or to obtain exposure to certain markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may obtain investment exposure to commodity-related investments by investing in one or more wholly-owned subsidiaries (each, "the Subsidiary") organized under the laws of the Cayman Islands (a "Cayman Subsidiary") or as a Delaware limited liability company (a "Delaware Subsidiary"), that will make commodity-related investments.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:139%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> Under normal circumstances, the Fund is expected to allocate between 15% and 55% of its assets to equity securities and investments that provide exposure to equity securities and between 45% and 85% of its assets to fixed income securities and investments that provide exposure to fixed income securities. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Commodities Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Wholly-Owned Subsidiary Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Subsidiary will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States, the State of Delaware and/or the Cayman Islands, as applicable, could affect the ability of the Fund and/or a Subsidiary to operate as described herein and could negatively affect the Fund and its shareholders. By investing in the Fund, you indirectly bear the expenses and applicable taxes (if any) of the Subsidiaries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Tax Risk – Investment in Commodities: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The tax treatment of commodity-linked investments may be adversely affected by changes in legislation, regulations or other legally binding authority. If, as a result of any such adverse action, the income of the Fund from certain commodity-linked investments or a Subsidiary was treated as non-qualifying income for purposes of the Fund’s qualification as a regulated investment company, the Fund might fail to qualify as such and be subject to federal income tax at the Fund level. With respect to the Delaware Subsidiary, because that Subsidiary is itself subject to U.S. federal income tax (as well as applicable state and local income taxes) on its taxable income, the Fund’s after-tax returns may be affected.</span> Performance <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies.</span> The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. GUIDEPATH® CONSERVATIVE ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 5.19%.</span></div><div style="margin-bottom:9pt;margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="padding-left:103.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.451%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">9.61</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-10.61</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0519 Best Quarter: 2020-06-30 0.0961 Worst Quarter: 2020-03-31 -0.1061 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.1245 0.0522 0.0570 Return After Taxes on Distributions 0.1100 0.0413 0.0464 Return After Taxes on Distributions and Sale of Fund Shares 0.0760 0.0366 0.0416 S&P® Target Risk Conservative Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.1202 0.0385 0.0556 Bloomberg U.S. Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) 0.0730 -0.0036 0.0201 Service Shares performance reflects any applicable fee waiver and/or expense reimbursements. The RS Shares have higher ongoing expenses than the Service Shares. Returns for the RS Shares are expected to be lower than the returns of the Service Shares shown due to differences in their expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. GUIDEPATH® TACTICAL ALLOCATION FUND Investment Objective <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Tactical Allocation Fund (the “Fund”) seeks to maximize total return, consisting of a combination of long-term capital appreciation and current income, while moderating risk and volatility in the portfolio.</span></div> Fees and Expenses of the Fund <div style="margin-bottom:5pt;margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0121 0.0100 0.0021 0.0009 0.0165 The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in RS Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in RS Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 168 520 897 1955 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 285% of the average value of its portfolio.</span></div> 2.85 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In seeking to maximize total return, under normal circumstances, the Fund’s assets are allocated into a diversified portfolio consisting of domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)), domestic and international fixed income securities, exchange-traded funds (“ETFs”), mutual funds and cash equivalent money market securities. The Fund’s allocation to individual securities may range from 0% to 90% of the Fund’s assets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The asset classes in which the Fund may invest include growth and value stocks, equity securities from developed and emerging international markets, commodity-related securities and domestic and international real estate securities, corporate bonds, mortgage- backed or asset-backed securities, securities issued by the U.S. and foreign governments or their agencies and instrumentalities, and higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. The Fund may invest in debt obligations of any maturity. A significant portion of the Fund’s fixed income allocation may be in non-investment grade fixed income investments with varying maturities, but these allocations may vary significantly over time.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may allocate assets to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may invest in investment companies (collectively, referred to herein as “Underlying Funds”) when AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds would provide the Fund with an efficient means of creating exposure to a broad range of securities. The Fund’s allocation to Underlying Funds may range from 10% to 100% of the Fund’s assets. The Fund may also invest in other exchange-traded products, such as exchange-traded notes (“ETNs”). The ETFs and ETNs in which the Fund invests may include inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively. By investing in the Fund, you will indirectly bear fees and expenses of Underlying Funds in which the Fund may invest in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may invest in Underlying Funds that use alternative strategies (e.g., long/short strategies - equity and fixed income, market- neutral strategies, and absolute return/global macro strategies) and/or use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust its risk profile, to replace more traditional direct investments, or to obtain exposure to certain markets.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, including tactical volatility managed asset allocation approaches developed by various research providers selected by the Advisor. The Advisor may utilize a combination of internal and external research constructing the Fund’s portfolio.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to change frequently over time. The Fund does not have a set target asset allocation mix among equities, fixed income securities and cash equivalent investments. If the Advisor believes that the stock market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes such as fixed income or cash equivalent securities. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> The Fund may invest in investment companies (collectively, referred to herein as “Underlying Funds”) when AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds would provide the Fund with an efficient means of creating exposure to a broad range of securities. The Fund’s allocation to Underlying Funds may range from 10% to 100% of the Fund’s assets. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Market Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Value Investment Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Growth Investment Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Investments in Underlying Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> To the extent that the Fund allocates a substantial portion of its assets to Underlying Funds, the ability of the Fund to meet its investment objective will depend on the ability of the Underlying Funds to meet their investment </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, the Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Funds Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Notes Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> ETNs are debt securities that are traded on an exchange (e.g., the New York Stock Exchange) whose returns are linked to the performance of a particular market benchmark or strategy. An ETN generally reflects the risks associated with the assets composing the underlying market benchmark or strategy it is designed to track. ETNs also are subject to issuer and fixed- income risks.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Alternative Strategies Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Interest Rate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Leveraged and Inverse ETF/ETN Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Inverse ETFs/ETNs generally use derivatives and short sales that, in combination, are designed to produce returns that move in the opposite direction of the indices they track. To the extent the Fund invests in ETFs/ETNs that seek to provide investment results that are the inverse of the performance of an underlying index, the Fund will indirectly be subject to the risk that the performance of such ETF/ETN will fall as the performance of that ETF or ETN’s benchmark rises, a result that is the opposite from traditional mutual funds. The Fund’s use of leveraged and inverse-leveraged ETFs and ETNs has the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class and results in increased volatility, </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in these instruments at all.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Credit Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">U.S. Government Agency Obligations Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Commodities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Commodities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Real Estate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Portfolio Turnover Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span></div> Performance <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. The Fund changed its investment strategy on January 19, 2016 and again on November 22, 2019. The performance set forth below prior to such dates is attributable to the previous investment strategies.</span></div> The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® TACTICAL ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 6.71%.</span></div><div style="margin-bottom:8pt;margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="padding-left:103.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.451%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2024</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">10.85</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-14.32</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0671 Best Quarter: 2024-03-31 0.1085 Worst Quarter: 2020-03-31 -0.1432 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.0703 0.1070 0.0852 Return After Taxes on Distributions 0.0465 0.0866 0.0702 Return After Taxes on Distributions and Sale of Fund Shares 0.0514 0.0778 0.0640 S&P 500® Daily Risk Control 10% Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0649 0.0963 0.1007 S&P 500® Index (reflects no deduction for fees, expenses or taxes) 0.1788 0.1442 0.1482 FTSE 3-Month Treasury Bill Index(reflects no deduction for fees, expenses or taxes) 0.0440 0.0331 0.0223 Service Shares performance reflects any applicable fee waiver and/or expense reimbursements. The RS Shares have higher ongoing expenses than the Service Shares. Returns for the RS Shares are expected to be lower than the returns of the Service Shares shown due to differences in their expenses. <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after- tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after- tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® ABSOLUTE RETURN ALLOCATION FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">®</span> Absolute Return Allocation Fund (the “Fund”) seeks to achieve consistent absolute positive returns over time regardless of the market environment. Fees and Expenses of the Fund <div style="margin-bottom:8pt;margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0136 0.0100 0.0036 0.0087 0.0258 -0.0011 0.0247 The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. July 31, 2027 Example The following Example is intended to help you compare the cost of investing in RS Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in RS Shares of 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 and that the Fund’s operating expenses remain the same. The Example reflects adjustments made to the Fund’s operating expenses due to the fee waiver and/or expense assumption by the Advisor for the 1-year number only. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 250 792 1361 2907 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 185% of the average value of its portfolio.</span></div> 1.85 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund operates as a fund of funds, investing primarily in registered mutual funds, including exchange-traded funds (“ETFs”) and closed-end funds (including unlisted interval funds). The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs and closed-end funds (including unlisted interval funds). The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from absolute return asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. The research providers’ absolute return asset allocation approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek to achieve consistent absolute positive returns over time regardless of the market environment. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in fixed income, equity-oriented investments and a mix of diversified alternative investments across global markets, using varying active asset allocation strategies among different security types, asset classes, yield and duration, valuation analyses, and currency exposure considerations. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may utilize an absolute return asset allocation strategy that builds on a foundation of alternative investments, such as long/short equity funds that seek a modest positive return from equity investments, that attempts to stay insulated from general stock market volatility, combined with opportunistic equity and fixed income investments strategically selected to enhance returns. The Fund may invest in Underlying Funds that use alternative strategies and/or use derivatives for risk management purposes or engage in significant use of derivatives as part of their investment strategies. The alternative strategies used by Underlying Funds may include, among others, long/short strategies – equity and fixed income, market-neutral strategies, absolute return/global macro strategies, and risk premium strategies, including market risk transfer strategies, alternative (marketplace) lending, merger arbitrage strategies and real estate, reinsurance and commodity-linked derivatives. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk profile of the Underlying Fund, to replace more traditional direct investments, or to obtain exposure to certain markets or asset classes, including real estate and commodities, which may include both traditional commodities such as precious metals and agricultural products, along with digital assets such as bitcoin.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may also utilize absolute return asset allocation strategies that allocate assets to various fixed income instruments and sectors using various passive index-oriented ETFs focusing on instruments such as U.S. Government bonds and notes, corporate bonds, bank loans, mortgage-related securities and asset-backed securities, inflation-protected debt securities, corporate bonds of various quality levels and maturity/duration, and cash equivalent investments. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure at the appropriate times, while increasing exposure to attractive sectors on a timely basis. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may obtain investment exposure to commodity-related investments by investing in a wholly-owned subsidiary organized under the laws of the Cayman Islands that will make commodity-related investments (the “Subsidiary” or “Cayman Subsidiary”). </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity and fixed income markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Exchange Trading Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Liquidity Risk: </span>Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Maturity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Municipal Securities Risk: </span>The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions. Newly originated variable rate securities (including reissuances and restructured loans) may possess lower levels of credit document protections than has historically been the case. Accordingly, in the event of default the Fund may experience lower levels of recoveries than has historically been the norm.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Commodities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s investment in commodity-linked investments and other commodity/natural resource-related securities may subject the Fund to greater volatility than investments in traditional securities. Commodity-linked investments may have a substantial risk of loss with respect to both principal and interest, and their returns may deviate significantly from the return of the underlying commodity, instruments, or measures. The ability of the Fund to invest in commodity-linked investments without exposing the Fund to Fund-level tax is limited under the Internal Revenue Code of 1986, as amended.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Digital Assets Investments Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Certain Underlying Funds may invest in digital assets such as bitcoin, along with futures contracts and options on digital asset futures contracts (or options on ETFs that invest in digital assets or digital asset futures contracts). Digital assets operate without central authority (such as a bank) and is not backed by any government, corporation, or other entity. Digital assets are not generally accepted as legal tender. Regulation of bitcoin and other digital assets is still developing. Federal, state and/or foreign governments may restrict the development, use, demand, or exchange of bitcoin and other digital assets. Regulation of digital assets continues to be a priority in both the United States and certain foreign jurisdictions and to evolve with the passage of new regulatory initiatives. Future regulation may restrict the use of bitcoin and other digital assets or otherwise affect the supply and demand for such assets. The market price of digital assets has historically been highly volatile. The price of a digital asset like bitcoin could fall sharply (potentially to zero) for various reasons, including, but not limited to, regulatory changes, issues impacting the bitcoin network, events involving entities that facilitate transactions in bitcoin, or changes in user preferences in favor of alternative digital assets. Furthermore, events that impact one digital asset may lead to a decline in the value of others. Digital asset exchanges and other trading venues on which digital assets trade are relatively new and, in most cases, largely unregulated. Accordingly, digital assets exchanges may be more exposed to fraud and failure than established, regulated exchanges for securities, derivatives and other currencies. Digital assets </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">exchanges are also subject to cyber security risks. Digital asset exchanges have experienced cyber security breaches in the past and may be breached in the future, which could result in the theft and/or loss of digital assets and impact the value of digital asset futures. Furthermore, cyber security events, legal or regulatory actions, fraud, and technical glitches, may cause a digital asset exchange to shut down temporarily or permanently, which may also affect the value of bitcoin, bitcoin futures, and/or other digital assets and related derivative instruments.</span></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Shares of ETFs that hold bitcoin, bitcoin futures, and other digital assets and related derivative instruments may trade in the secondary market at a premium to or discount from their NAVs, and an Underlying Fund may purchase or sell shares of such digital asset futures ETFs at prices above or below such NAVs. Because the market price of ETF shares depends in part on the demand in the market for the shares, as well as on the value of the ETF’s component assets, and because the market price of ETF shares is subject to tracking error, the market price of a digital asset futures ETF may be more volatile than the underlying digital asset futures contracts in which the digital asset futures ETF invests. In addition, an Underlying Fund may not be able to liquidate digital asset futures ETF holdings at the time or price desired, which may adversely impact the Underlying Fund’s performance and in turn, the value of the Fund’s investment. Furthermore, there may be times when the exchange halts trading in the shares of a digital asset futures ETF, in which case the Underlying Fund would be unable to sell them until trading is resumed.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Digital Asset Market Volatility Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The price of digital assets remains highly volatile and subject to significant price fluctuations. While recent increases in institutional adoption, clearer regulatory frameworks, and broader market acceptance have contributed to greater stability relative to earlier periods, the price of digital assets continues to be influenced by rapid shifts in market sentiment, regulatory developments, macroeconomic conditions, technological advancements, and unforeseen events. The market price of digital assets has historically experienced dramatic highs and lows over short periods, relative to more traditional asset classes, often with limited or no identifiable catalyst. Given the evolving nature of digital asset markets, price volatility may be amplified by external factors such as changes in global financial markets, geopolitical events, regulatory enforcement actions, or significant technological or security incidents. The value of a digital asset and, therefore, of an Underlying Fund’s digital asset strategy, could decline rapidly, including to zero, which would adversely affect the Underlying Fund’s NAV per share.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Insurance-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The principal risk of investments in insurance-linked securities is that a triggering event (which could include a natural disaster like an earthquake or tornado or a commercial or industrial accident like an aviation disaster or oil spill) occurs, resulting an Underlying Fund losing all or a significant portion of the principal it has invested in the security and the right to additional interest payments with respect to the security. If multiple triggering events occur that impact a significant portion of the portfolio of the Underlying Fund, the Underlying Fund could suffer substantial losses and an investor will lose money. Event-linked or catastrophe bonds carry large uncertainties and major risk exposures to adverse conditions. Certain reinsurance investments may be difficult to value. There is no way to accurately predict whether a triggering event will occur and, because of this significant uncertainty, insurance-linked securities carry a high degree of risk.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Marketplace Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Investments by Underlying Funds in loans sourced through marketplace lending platforms are subject to additional risks than those applicable to investments in loans generally. If a borrower is unable or fails to make payments on a loan for any reason, an Underlying Fund may not have direct recourse against the borrower or may be otherwise limited in its ability to directly enforce its rights under the loan, whether through the borrower or the marketplace lending platform through which the loan was originated. Borrowings obtained through marketplace lending platforms may not limit borrowers from incurring additional debt which may impair the borrower’s ability to repay interest and principal of the original loan. Default history for alternative lending platforms is limited. Future defaults may be higher than historical defaults and the timing of defaults may vary significantly from historical observations. An Underlying Fund may have limited knowledge about the underlying loans to which it has exposure and is dependent upon the platform for information regarding the loans and borrowers’ credit information. Such information may be incomplete, inaccurate or outdated and may, therefore, not accurately reflect the borrowers’ actual creditworthiness. Disruptions in the business of a platform may also negatively impact the value of loans sourced through that platform. Investments in loans sourced through a marketplace lending platform may also be negatively impacted if the platform or a third-party service provider becomes unable or unwilling to fulfill its obligations in servicing the loans.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Subordinated Real Estate Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An Underlying Fund may acquire or originate subordinated real estate loans secured by single family rental properties, including mezzanine loans in the form of subordinated loans secured by a pledge of the ownership interests of either the entity owning such properties or the entity that owns the interest in the entity owning such properties. In the event a borrower defaults on a subordinated loan and lacks sufficient assets to satisfy such loan, the Underlying Fund may suffer a loss of principal or interest. In the event a borrower declares bankruptcy, the Underlying Fund may not have full recourse to the assets of the borrower, or the assets of the borrower may not be sufficient to satisfy the loan. If a borrower defaults on a loan owned by the Underlying Fund or on </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">debt senior to such loan, or in the event of a borrower bankruptcy, such loan will be satisfied only after the senior debt is paid in full. These types of investments may become unsecured as a result of foreclosure by the senior lender.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Real Estate Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Unlisted Closed-end Interval Fund Risk.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> In addition to the risks associated with the underlying assets held by an underlying unlisted closed-end interval fund (an underlying interval fund), an underlying interval fund is considered an illiquid investment because shareholders (such as the Fund) cannot redeem or sell their shares outside of periodic repurchase offers. To provide some liquidity to its shareholders, an underlying interval fund makes periodic offers to repurchase a portion of its outstanding shares at net asset value (“NAV”), subject to certain conditions under Rule 23c-3 under the 1940 Act. In connection with any given repurchase offer, it is possible that an underlying interval fund may offer to repurchase only a small portion of its outstanding shares. Further, if a repurchase offer is oversubscribed, shareholders of an underlying interval fund may only have a portion of their shares repurchased. As a result, there is no guarantee that shareholders of an underlying interval fund will be able to exit their shares at any given time. Since an underlying interval fund does not list its shares for trading on any national securities exchange, an underlying interval fund's shares are, therefore, not readily marketable and no market is expected to develop. The Fund will bear its proportionate share of fees associated with its investments in an underlying interval fund, including management fees charged by the investment adviser to the underlying interval fund, and other fees and operational expenses, such as interest expenses in connection with any leverage incurred by the underlying interval fund. These fees and expenses are reflected in the underlying interval fund’s NAV and will reduce the total return of the Fund’s investment in such underlying interval fund.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Portfolio Turnover Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Wholly-Owned Subsidiary Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Subsidiary will not be subject to all of the investor protections of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could affect the ability of the Fund and/or Subsidiary to operate as described herein and could negatively affect the Fund and its shareholders. By investing in the Fund, you indirectly bear the expenses of the Subsidiary. With respect to the Cayman Subsidiary, gains or losses from trading in commodity-linked investments, such as those held by the Subsidiary, may be taxed, in part, as long-term capital gains or losses and, in part, as short term capital gains or losses. However, because the Cayman Subsidiary is a controlled foreign corporation, any income received from its investments will be passed through to the Fund as ordinary income and taxed to Fund shareholders as such.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Tax Risk – Investment in Commodities: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The tax treatment of commodity-linked investments may be adversely affected by changes in legislation, regulations or other legally binding authority. If, as a result of any such adverse action, the income of the Fund from certain commodity-linked investments or the Subsidiary was treated as non-qualifying income for purposes of the Fund’s qualification as a regulated investment company, the Fund might fail to qualify as such and be subject to federal income tax at the Fund level.</span> Performance <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past </span></div><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies.</span> The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and an additional index with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® ABSOLUTE RETURN ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 6.39%.</span></div><div style="margin-bottom:8pt;margin-top:6pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below:</span></div><div style="padding-left:103.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.451%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended December 31, 2023</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">5.23</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1pt 1.5pt 1.02pt;text-align:left;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2022</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-5.24</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0639 Best Quarter: 2023-12-31 0.0523 Worst Quarter: 2022-06-30 -0.0524 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.0735 0.0145 0.0300 Return After Taxes on Distributions 0.0596 0.0006 0.0179 Return After Taxes on Distributions and Sale of Fund Shares 0.0436 0.0050 0.0179 FTSE 3-Month Treasury Bill Index(reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0440 0.0331 0.0223 Bloomberg Global Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) 0.0817 -0.0215 0.0126 Service Shares performance reflects any applicable fee waiver and/or expense reimbursements. The RS Shares have higher ongoing expenses than the Service Shares. Returns for the RS Shares are expected to be lower than the returns of the Service Shares shown due to differences in their expenses. <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:12.00pt">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. GUIDEPATH® MULTI-ASSET INCOME ALLOCATION FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Multi-Asset Income Allocation Fund (the “Fund”) seeks to</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:12pt;font-weight:400;line-height:139%"> </span>maximize current income while moderating risk and volatility in the portfolio. As a secondary objective, the Fund seeks capital appreciation. Fees and Expenses of the Fund <div style="margin-bottom:8pt;margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0035 0 0.0135 0.0100 0.0035 0.0025 0.0195 -0.0001 0.0194 The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. July 31, 2027 Example The following Example is intended to help you compare the cost of investing in RS Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in RS Shares of 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 and that the Fund’s operating expenses remain the same. The Example reflects adjustments made to the Fund’s operating expenses due to the fee waiver and/or expense assumption by the Advisor for the 1-year number only. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 197 611 1051 2274 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 39% of the average value of its portfolio.</span></div> 0.39 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund operates as a fund of funds, investing primarily in registered mutual funds (both actively and passively managed) and exchange-traded funds (“ETFs”). The Fund may also invest in closed-end funds, including unlisted interval funds. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of asset classes. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund has broad flexibility to allocate its assets among a wide variety of debt and equity securities and real estate investment trusts (“REITs”) in seeking income across asset classes. As part of its principal investment strategy or for temporary defensive purposes, any portion of the Fund’s assets may also be invested in cash and cash equivalents. The Fund may invest in such instruments directly or indirectly through its investment in Underlying Funds. The Fund’s approach is flexible and allows the Advisor to shift the Fund’s allocations in response to changing market conditions. As a result, the Fund may at times be invested in a single or multiple asset classes, markets or sectors. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Advisor’s asset allocation decisions are based on different factors and analytical approaches, derived from asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. In attempting to achieve the Fund’s investment objective, the Advisor monitors and adjusts the Fund’s asset allocations as necessary. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Under normal circumstances, the Fund will be expected to allocate between 40% and 80% of its assets to equity securities and investments that provide exposure to equity securities and between 20% to 60% of its assets to fixed income securities and investments that provide exposure to fixed income securities. Over time, the asset allocation mix may change as a result of changing capital market assumptions or short-term market opportunities. Under normal market conditions, the Fund is expected to periodically review and adjust its target allocation to equity securities and investments that provide exposure to equity securities and its target allocation fixed income securities and investments that provide exposure to fixed income securities, including cash equivalents.</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s fixed income allocation may include, but is not limited to, investments made directly or indirectly via the Underlying Funds in debt securities of governments, government agencies and supranational entities, debt securities of corporations, preferred stock, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations. The Fund’s fixed income allocation may also include higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt. It is possible that a significant portion of the Fund’s fixed income allocation may be invested, directly or indirectly, in non-investment grade fixed income investments with varying maturities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may invest, directly or indirectly, in domestic and international equities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)). The Fund’s equity allocation may include investments made directly or indirectly via the Underlying Funds in both small- and large-capitalization companies and both growth and value stocks. The Fund’s equity allocation may also include equity securities from emerging international markets, and both domestic and international real estate securities.</span></div><div style="margin-top:3pt;text-align:justify"><span style="background-color:#ffffff;color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may invest in Underlying Funds that use alternative strategies (e.g., long/short strategies – equity and fixed income, market-neutral strategies, and absolute return/global macro strategies) and/or use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> Under normal circumstances, the Fund will be expected to allocate between 40% and 80% of its assets to equity securities and investments that provide exposure to equity securities and between 20% to 60% of its assets to fixed income securities and investments that provide exposure to fixed income securities. There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund’s assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Real Estate Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Convertible Securities Risk: </span>The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with fluctuations in the market value of the underlying securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Municipal Securities Risk:</span> The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Loan Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Equity Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value. The stock market may experience declines or stocks in the Fund’s portfolio may not increase their earnings at the rate anticipated. The Fund’s NAV and investment return will fluctuate based upon changes in the value of its portfolio securities.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. The Fund changed its investment strategy on January 19, 2016. The performance set forth below prior to January 19, 2016 is attributable to the previous investment strategies.</span> The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance and additional indexes with characteristics relevant to the Fund's investments. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. GUIDEPATH® MULTI-ASSET INCOME ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 6.98%.</span></div><div style="margin-top:3pt"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><div style="padding-left:103.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.451%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1.02pt 1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">9.71</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1.02pt 1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended March 31, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-18.38</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0698 Best Quarter: 2020-06-30 0.0971 Worst Quarter: 2020-03-31 -0.1838 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.1302 0.0543 0.0540 Return After Taxes on Distributions 0.1153 0.0416 0.0424 Return After Taxes on Distributions and Sale of Fund Shares 0.0797 0.0377 0.0384 Morningstar Multi-Asset High Income Index (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.1505 0.0266 0.0429 Bloomberg Global Aggregate Bond Index (reflects no deduction for fees, expenses or taxes) 0.0817 -0.0215 0.0126 MSCI All Country World Index (ACWI)(reflects no deduction for fees, expenses or taxes) 0.2287 0.1170 0.1228 Service Shares performance reflects any applicable fee waiver and/or expense reimbursements. The RS Shares have higher ongoing expenses than the Service Shares. Returns for the RS Shares are expected to be lower than the returns of the Service Shares shown due to differences in their expenses. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. GUIDEPATH® FLEXIBLE INCOME ALLOCATION FUND Investment Objective <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">GuidePath</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:6.5pt;font-weight:400;line-height:139%;position:relative;top:-3.5pt;vertical-align:baseline">® </span>Flexible Income Allocation Fund (the “Fund”) seeks to provide current income while moderating risk and volatility in the portfolio. As a secondary objective, the Fund seeks capital appreciation. Fees and Expenses of the Fund <div style="margin-bottom:8pt;margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The following table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below:</span></div> Shareholder Fees (fees paid directly from your investment) 0 Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0 0.0125 0.0100 0.0025 0.0054 0.0204 The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. Example The following Example is intended to help you compare the cost of investing in RS Shares of the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in RS Shares of 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 and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: 207 640 1098 2369 Portfolio Turnover <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">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. The Fund does not pay transaction costs when buying and selling shares of other mutual funds, however, the underlying funds pay transaction costs when buying and selling securities for their portfolio. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 149% of the average value of its portfolio.</span></div> 1.49 Principal Investment Strategies of the Fund <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund operates as a fund of funds, investing primarily in registered mutual funds (both actively and passively managed) and exchange-traded funds (“ETFs”). The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of fixed income and equity securities. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by the Advisor or its affiliates, </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from volatility managed and income focused asset allocation approaches developed by various research providers and considered by the Advisor in constructing the Fund’s portfolio. The research providers’ volatility-managed and income-focused asset allocation approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek to achieve consistent returns over time regardless of the market environment while also seeking to generate high levels of income.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in various types of domestic and international fixed income securities, domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and cash equivalent money market securities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The asset classes in which the Fund may invest, either directly or indirectly via the Underlying Funds, include, but are not limited to, debt securities of governments, government agencies and supranational entities, debt securities of corporations, preferred stock, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations, higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt, dividend-paying securities of small- and large-capitalization companies, growth and value stocks, equity securities from developed and emerging market countries, and both domestic and international real estate securities. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar. It is possible that a significant portion of the Fund’s assets may be invested, directly or indirectly, in non-investment grade fixed income investments with varying maturities. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may allocate assets to passive index-oriented ETFs that provide exposure to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis. The Fund may also invest in inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively. </span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may utilize an asset allocation strategy that builds on a foundation of alternative investments, such as long/short equity funds that seek a modest positive return from equity investments, that attempts to stay insulated from general stock market volatility, combined with opportunistic equity and fixed income investments strategically selected to enhance returns. The Fund’s alternative strategies may also include diversified risk premium strategies, including market risk transfer strategies, alternative (marketplace) lending and real estate, reinsurance and commodity-linked derivatives, including, but not limited to, commodity futures contracts, and exposure to certain asset classes, including digital assets such as bitcoin.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund’s asset allocation mix among fixed income, equity and cash equivalent money market securities is intended to change over time. The Fund does not have a set target asset allocation mix. If the Advisor believes that market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund may invest in Underlying Funds that use derivatives for risk management purposes or engage in significant use of derivatives as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies.</span></div><div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The Fund lends its portfolio securities to seek to generate additional income.</span></div> There is the risk that you could lose all or a portion of the money you have invested in the Fund. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Fund of Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The Fund is subject to fund of funds risk, which means that the ability of the Fund to meet its investment objective is directly related to the ability of the Underlying Funds to meet their investment objectives. There can be no assurance that either the Fund or the Underlying Funds will achieve their investment objectives. Additionally, each Fund may invest in other investment companies for which the Advisor or an affiliate serves as investment advisor (i.e., affiliated Underlying Funds). Such investments in the Underlying Funds could create a conflict of interest for the Advisor in managing the Fund’s assets. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Management Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An investment or allocation strategy used by the Advisor may fail to produce the intended results.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Market Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The value of the Fund’s investments and the net asset values of the Fund’s shares will fluctuate in response to various market and economic factors related to the equity, fixed income and currency markets as well as the financial condition and prospects of companies in which the Fund invests.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Value Investment Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund’s investments in value-oriented securities may be out of favor and potentially undervalued in the marketplace due to adverse business, industry or other developments. The Fund’s investments in value-oriented securities may not reach what the Fund’s Advisor believes are their full value.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Growth Investment Risk</span>: The Fund’s investments in growth-oriented securities may be subject to greater price volatility and may be more sensitive to changes in the issuer’s current or expected earnings than other equity securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Exchange-Traded Funds Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An ETF may represent a portfolio of securities or may use derivatives in pursuit of its stated objective. The risks of owning an ETF generally reflect the risks of owning the underlying securities held by the ETF, although a lack of liquidity in an ETF could result in it being more volatile. In addition, ETF shares may trade at a premium or discount relative to their net asset value. ETFs have management fees and other expenses which the Fund will indirectly bear.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Securities Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The risks of investing in foreign securities (including ADRs and GDRs) can increase the potential for losses in the Fund and may include currency fluctuations, political and economic instability, less government regulation, less publicly available information, limited trading markets, differences in financial reporting standards, fewer protections for passive investors and less stringent regulation of securities markets. The risks of foreign investments may be greater in developing or emerging market countries.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Foreign Exchange Trading Risk: </span>The trading of foreign currencies directly generates risks separate from those faced from the risks of inactive or indirect exposures to non-dollar denominated instruments, insofar as the Fund may experience a loss from the buying and selling of currencies without any related exposure to non-dollar-denominated assets. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Emerging Markets Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: In addition to the risks generally associated with investing in foreign securities described above, countries with emerging markets may also have relatively unstable governments, fewer shareholder protections, and more limited economies and securities markets. Additionally, trading in the currencies of emerging market countries may face periods of limited liquidity or the political risk of exchange controls or currency repatriation restrictions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Interest Rate Risk:</span> The market value of fixed income securities will fluctuate with changes in interest rates. For example, when interest rates rise, the market value of fixed income securities declines. If the market value of the Fund’s investments decreases, investors in the Fund may lose money. The Fund may face a heightened level of interest rate risk due to changes in general economic conditions, inflation and monetary policy, including interest rate changes by the Federal Reserve. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">High-Yield Debt Securities Risk: </span>High-yield debt securities or “junk bonds” are debt securities rated below investment grade by an NRSRO. Junk bonds are subject to greater credit risk than higher-grade securities, have a greater risk of default and are considered speculative. Issuers of junk bonds are more likely to experience financial difficulties that may impair their ability to make principal and interest payments. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Mortgage- and Asset-Backed Securities Risk</span>: Mortgage- and asset-backed securities are subject to prepayment risk, which is the risk that the borrower will prepay some or all of the principal owed to the issuer. If that happens, the Fund may have to replace the security by investing the proceeds in a less attractive security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Alternative Strategies Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Certain Underlying Funds that use alternative investment strategies may be subject to risks including, but not limited to, derivatives risk, liquidity risk, credit risk and commodities risk. Certain alternative strategies involve the risk that a counterparty to a transaction will not perform as promised, which could result in losses to the Fund. Furthermore, alternative strategies may employ leverage, involve extensive short positions and/or focus on narrow segments of the market, which may magnify the overall risks and volatility associated with such investments.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Derivatives Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: A derivative is an instrument with a value based on the performance of an underlying currency, security, index or other reference asset. The use of derivatives involves risks different from, or greater than, the risks associated with investing in more </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">traditional investments. Derivatives involve costs, may create leverage, and may be illiquid, volatile, and difficult to value. The Fund may not be able to close out or sell a derivative position at a particular time or at an anticipated price. The use of derivatives could also result in a loss if the counterparty to the transaction does not perform as promised, including because of such counterparty’s bankruptcy or insolvency. The investment results achieved by the use of derivatives by the Fund may not match or fully offset changes in the value of the underlying currency, security, index or other reference asset that it was attempting to hedge or the investment opportunity the Fund was attempting to pursue. For example, with currency derivatives, there may be an imperfect correlation between a Fund’s portfolio holdings of securities denominated in a particular currency and the currencies underlying the currency derivatives entered into by the Fund.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Debt/Fixed Income Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">An increase in interest rates typically causes a fall in the value of the debt securities in which the Fund may invest. Conversely, very low or negative interest rates may heighten the Fund's susceptibility to interest rate risk and diminish yield and performance. The value of your investment in the Fund may change in response to changes in the credit ratings of the debt securities in the Fund's portfolio. Moreover, rising interest rates or lack of market participants may lead to decreased liquidity in the bond and loan markets, making it more difficult for the Fund to sell its holdings at a time when the Fund's manager might wish to sell. Lower rated securities ("junk bonds") are generally subject to greater risk of loss of your money than higher rated securities. Issuers may (increase) decrease prepayments of principal when interest rates (fall) increase, affecting the maturity of the debt security and causing the value of the security to decline. To the extent the Fund or an Underlying Fund invests in derivatives tied to fixed income markets, the Fund or Underlying Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Credit Risk: </span>Individual issues of fixed income securities may be subject to the credit risk of the issuer. This means that the issuer of a fixed income security, or in the case of a municipal security, the underlying municipality, may experience financial problems, causing it to be unable to meet its payment obligations. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">U.S. Government Agency Obligations Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Government agency obligations have different levels of credit support and, therefore, different degrees of credit risk. Some securities issued by agencies and instrumentalities of the U.S. Government are supported by the full faith and credit of the United States, but others are neither insured nor guaranteed by the U.S. Government. The U.S. Department of the Treasury has the authority to provide financial support to these debt obligations, but no assurance can be given that the U.S. Government will do so.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Liquidity Risk</span>: Liquidity risk is the risk that certain investments may be difficult or impossible to buy or sell at the time and price that a Fund would like to buy or sell the security. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Maturity Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The Fund may invest in fixed income securities with a range of maturities. Generally, the longer a security’s maturity, the greater the risk that interest rate fluctuations may adversely affect the value of the security.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Convertible Securities Risk:</span> The value of convertible securities tends to decline as interest rates rise and, because of the conversion feature, tends to vary with fluctuations in the market value of the underlying securities. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Municipal Securities Risk:</span> The risk of a municipal security depends on the ability of the issuer, or any entity providing a credit enhancement, to continue to meet its obligations for the payment of interest and principal when due. <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Loans are subject to risk of loss as a result of borrower default, sensitivity to interest rate and economic changes, valuation difficulties and potential decreased liquidity to a greater extent than other types of investments. The value of any collateral securing a loan may decline, be insufficient to meet the borrower’s obligations, or be difficult or costly to liquidate. It may take longer than 7 days for investments in loans to settle, which may adversely affect an Underlying Fund’s ability to timely honor redemptions.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Leveraged and Inverse ETF/ETN Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Inverse ETFs/ETNs generally use derivatives and short sales that, in combination, are designed to produce returns that move in the opposite direction of the indices they track. To the extent the Fund invests in ETFs/ETNs that seek to provide investment results that are the inverse of the performance of an underlying index, the Fund will indirectly be subject to the risk that the performance of such ETF/ETN will fall as the performance of that ETF or ETN’s benchmark rises, a result that is the opposite from traditional mutual funds. The Fund’s use of leveraged and inverse-leveraged ETFs and ETNs has the economic effect of creating financial leverage. Financial leverage magnifies exposure to the swings in prices of an asset class and results in increased volatility, which means the Fund will have the potential for greater gains, as well as the potential for greater losses, than if the Fund had not invested in these instruments at all.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Small and Medium Capitalization Company Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Small and medium capitalization companies often have narrower markets, fewer products or services to offer and more limited managerial and financial resources than do larger, more established companies. As a result, their performance can be more volatile, and they face a greater risk of business failure, which could increase the volatility and risk of loss of the Fund's assets.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Digital Assets Investments Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Certain Underlying Funds may invest in digital assets such as bitcoin, along with futures contracts and options on digital asset futures contracts (or options on ETFs that invest in digital assets or digital asset futures contracts). Digital assets operate without central authority (such as a bank) and is not backed by any government, corporation, or other entity. Digital assets are not generally accepted as legal tender. Regulation of bitcoin and other digital assets is still developing. Federal, state and/or foreign governments may restrict the development, use, demand, or exchange of bitcoin and other digital assets. Regulation of digital assets continues to be a priority in both the United States and certain foreign jurisdictions and to evolve with the passage of new regulatory initiatives. Future regulation may restrict the use of bitcoin and other digital assets or otherwise affect the supply and demand for such assets. The market price of digital assets has historically been highly volatile. The price of a digital asset like bitcoin could fall sharply (potentially to zero) for various reasons, including, but not limited to, regulatory changes, issues impacting the bitcoin network, events involving entities that facilitate transactions in bitcoin, or changes in user preferences in favor of alternative digital assets. Furthermore, events that impact one digital asset may lead to a decline in the value of others. Digital asset exchanges and other trading venues on which digital assets trade are relatively new and, in most cases, largely unregulated. Accordingly, digital assets exchanges may be more exposed to fraud and failure than established, regulated exchanges for securities, derivatives and other currencies. Digital assets exchanges are also subject to cyber security risks. Digital asset exchanges have experienced cyber security breaches in the past and may be breached in the future, which could result in the theft and/or loss of digital assets and impact the value of digital asset futures. Furthermore, cyber security events, legal or regulatory actions, fraud, and technical glitches, may cause a digital asset exchange to shut down temporarily or permanently, which may also affect the value of bitcoin, bitcoin futures, and/or other digital assets and related derivative instruments.</span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">Shares of ETFs that hold bitcoin, bitcoin futures, and other digital assets and related derivative instruments may trade in the secondary market at a premium to or discount from their NAVs, and an Underlying Fund may purchase or sell shares of such digital asset futures ETFs at prices above or below such NAVs. Because the market price of ETF shares depends in part on the demand in the market for the shares, as well as on the value of the ETF’s component assets, and because the market price of ETF shares is subject to tracking error, the market price of a digital asset futures ETF may be more volatile than the underlying digital asset futures contracts in which the digital asset futures ETF invests. In addition, an Underlying Fund may not be able to liquidate digital asset futures ETF holdings at the time or price desired, which may adversely impact the Underlying Fund’s performance and in turn, the value of the Fund’s investment. Furthermore, there may be times when the exchange halts trading in the shares of a digital asset futures ETF, in which case the Underlying Fund would be unable to sell them until trading is resumed.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:5.5pt">Digital Asset Market Volatility Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> The price of digital assets remains highly volatile and subject to significant price fluctuations. While recent increases in institutional adoption, clearer regulatory frameworks, and broader market acceptance have contributed to greater stability relative to earlier periods, the price of digital assets continues to be influenced by rapid shifts in market sentiment, regulatory developments, macroeconomic conditions, technological advancements, and unforeseen events. The market price of digital assets has historically experienced dramatic highs and lows over short periods, relative to more traditional asset classes, often with limited or no identifiable catalyst. Given the evolving nature of digital asset markets, price volatility may be amplified by external factors such as changes in global financial markets, geopolitical events, regulatory enforcement actions, or significant technological or security incidents. The value of a digital asset and, therefore, of an Underlying Fund’s digital asset strategy, could decline rapidly, including to zero, which would adversely affect the Underlying Fund’s NAV per share.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:5.5pt">Insurance-Linked Securities Risk: </span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The principal risk of investments in insurance-linked securities is that a triggering event (which could include a natural disaster like an earthquake or tornado or a commercial or industrial accident like an aviation disaster or oil spill) occurs, resulting an Underlying Fund losing all or a significant portion of the principal it has invested in the security and the right to additional interest payments with respect to the security. If multiple triggering events occur that impact a significant portion of the portfolio of the Underlying Fund, the Underlying Fund could suffer substantial losses and an investor will lose money. Event-linked or catastrophe bonds carry large uncertainties and major risk exposures to adverse conditions. Certain reinsurance investments may be difficult to value. There is no way to accurately predict whether a triggering event will occur and, because of this significant uncertainty, insurance-linked securities carry a high degree of risk.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Marketplace Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> Investments by Underlying Funds in loans sourced through marketplace lending platforms are subject to additional risks than those applicable to investments in loans generally. If a borrower is unable or fails to make payments on a loan for any reason, an Underlying Fund may not have direct recourse against the borrower or may be otherwise limited in its ability to directly enforce its rights under the loan, whether through the borrower or the marketplace lending platform through which the loan was originated. Borrowings obtained through marketplace lending platforms may not limit borrowers from incurring additional debt which may impair the borrower’s ability to repay interest and principal of the original loan. Default history for alternative lending platforms is </span><div style="margin-top:3pt;padding-left:18pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">limited. Future defaults may be higher than historical defaults and the timing of defaults may vary significantly from historical observations. An Underlying Fund may have limited knowledge about the underlying loans to which it has exposure and is dependent upon the platform for information regarding the loans and borrowers’ credit information. Such information may be incomplete, inaccurate or outdated and may, therefore, not accurately reflect the borrowers’ actual creditworthiness. Disruptions in the business of a platform may also negatively impact the value of loans sourced through that platform. Investments in loans sourced through a marketplace lending platform may also be negatively impacted if the platform or a third-party service provider becomes unable or unwilling to fulfill its obligations in servicing the loans.</span></div> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Subordinated Real Estate Loan Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> An Underlying Fund may acquire or originate subordinated real estate loans secured by single family rental properties, including mezzanine loans in the form of subordinated loans secured by a pledge of the ownership interests of either the entity owning such properties or the entity that owns the interest in the entity owning such properties. In the event a borrower defaults on a subordinated loan and lacks sufficient assets to satisfy such loan, the Underlying Fund may suffer a loss of principal or interest. In the event a borrower declares bankruptcy, the Underlying Fund may not have full recourse to the assets of the borrower, or the assets of the borrower may not be sufficient to satisfy the loan. If a borrower defaults on a loan owned by the Underlying Fund or on debt senior to such loan, or in the event of a borrower bankruptcy, such loan will be satisfied only after the senior debt is paid in full. These types of investments may become unsecured as a result of foreclosure by the senior lender.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Real Estate Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: The value of real estate-linked derivative instruments and other real estate-related securities such as real estate investment trusts (“REITs”) may be affected by risks similar to those associated with direct ownership of real estate, in addition to the risks of poor performance by a REIT’s manager, changes to tax laws, and failure by the REIT to qualify for favorable treatment. To the extent the Fund invests in REITs, you will indirectly bear fees and expenses of the underlying REITs in addition to the Fund’s direct fees and expenses. REITs may have limited diversification and may not exhibit the same (or any) correlation with inflation that real estate or other real estate securities exhibit.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Portfolio Turnover Risk</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">: Depending on market and other conditions, the Fund may experience a high portfolio turnover, which may result in higher brokerage costs and transaction costs (which could reduce investment returns). Distributions of net short-term capital gains are taxable as ordinary income when Fund shares are held in a taxable account. A fund with a high portfolio turnover rate (a measure of how frequently assets within a fund are bought and sold) is more likely to generate short-term capital gains than a fund with a low portfolio turnover rate.</span> <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-style:italic;font-weight:400;line-height:139%;padding-left:14.5pt">Securities Lending Risk:</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%"> When the Fund lends its portfolio securities, the Fund is subject to the risk that the borrower may fail to return the securities in a timely manner or at all, resulting in a loss to the Fund and/or a delay in recovering the loaned securities. The Fund could also lose money in connection with securities lending transactions if it does not recover the loaned securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences. The Fund is not obligated to engage in securities lending and may discontinue its securities lending activities at any time.</span> Performance <span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. The Fund changed its investment strategy on January 19, 2016 and again on May 14, 2017. The performance set forth below prior to such dates is attributable to the previous investment strategies.</span> The RS Shares of the Fund are a new class of shares for which a full calendar year of performance information is not available, therefore, the bar chart and table that follow illustrate annual returns for Service Shares of the Fund, a separate class of shares not offered in this Prospectus, for periods ended December 31. This information is intended to give you some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and how the Fund’s average annual returns over time compare with those of a broad measure of market performance. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. The RS Shares of the Fund would have different returns from the Service Shares because, although the shares are invested in the same portfolio of securities, RS Shares have different expenses. GUIDEPATH® FLEXIBLE INCOME ALLOCATION FUND – SERVICE SHARES Calendar Year Returns as of 12/31 <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">The year-to-date performance of the Fund’s Service Shares as of June 30, 2026 was 2.25%.</span></div><div style="margin-bottom:8pt;margin-top:6pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:139%">During the period shown on the bar chart, the Fund’s best and worst quarters are shown below: </span></div><div style="padding-left:103.5pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:63.451%"><tr><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:48.900%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:23.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:1.5pt 1.02pt 1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Best Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2020</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">8.65</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr><tr><td colspan="3" style="padding:1.5pt 1.02pt 1.5pt 1pt;text-align:justify;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Worst Quarter:</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:left;vertical-align:top"><div style="padding-left:0.02pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Quarter ended June 30, 2022</span></div></td><td colspan="2" style="padding:1.5pt 0 1.5pt 1pt;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">-6.16</span><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td style="padding:1.5pt 1pt 1.5pt 0;text-align:right;vertical-align:top"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">%</span></td></tr></table></div> year-to-date performance 2026-06-30 0.0225 Best Quarter: 2020-06-30 0.0865 Worst Quarter: 2022-06-30 -0.0616 Average Annual Total Returns for Periods Ended December 31, 2025 Return Before Taxes 0.0373 0.0012 0.0294 Return After Taxes on Distributions 0.0161 -0.0147 0.0147 Return After Taxes on Distributions and Sale of Fund Shares 0.0219 -0.0057 0.0164 Bloomberg U.S. Aggregate Bond Index      (reflects no deduction for fees, expenses or taxes) (reflects no deduction for fees, expenses or taxes) 0.0730 -0.0036 0.0201 Service Shares performance reflects any applicable fee waiver and/or expense reimbursements. The RS Shares have higher ongoing expenses than the Service Shares. Returns for the RS Shares are expected to be lower than the returns of the Service Shares shown due to differences in their expenses. <div style="margin-top:3pt;text-align:justify"><span style="color:#003362;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:12.00pt">After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. Actual after-tax returns depend on your tax situation and may differ from those shown. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></div> After-tax returns are calculated using the historical highest individual federal marginal income tax rates, and do not reflect the impact of state and local taxes. In addition, the after-tax returns shown are not relevant to investors who hold their Fund shares through tax-advantaged arrangements such as 401(k) plans and individual retirement accounts because such accounts are only subject to taxes upon withdrawal. In certain cases, the figure representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other return figures for the same period. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. AssetMark, Inc. (“AssetMark” or the “Advisor”) has contractually agreed through July 31, 2027, to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that Total Annual Fund Operating Expenses (excluding taxes, interest, trading costs, acquired fund fees and expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.69% of average daily net assets. This expense limitation agreement may not be terminated prior to July 31, 2027 unless the Board of Trustees consents to an earlier revision or termination. Under the expense limitation agreement, AssetMark may recoup waived fees and expenses borne for a three-year period under specified conditions. No recoupment will be paid to AssetMark if the Fund’s current Total Annual Fund Operating Expenses exceed the expense limitation in effect at the time fees were waived or expenses were reimbursed. Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. "Acquired Fund Fees and Expenses" (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. AssetMark, Inc. (“AssetMark” or the “Advisor”) has contractually agreed through July 31, 2027 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that Total Annual Fund Operating Expenses (excluding taxes, interest, trading costs, AFFE, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.64% of average daily net assets. This expense limitation agreement may not be terminated prior to July 31, 2027 unless the Board of Trustees consents to an earlier revision or termination. Under the expense limitation agreement, AssetMark may recoup waived fees and expenses borne for a three-year period under specified conditions. No recoupment will be paid to AssetMark if the Fund’s current Total Annual Fund Operating Expenses exceed the expense limitation in effect at the time fees were waived or expenses were reimbursed. "Acquired Fund Fees and Expenses" (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. "Acquired Fund Fees and Expenses (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AssetMark, Inc. (“AssetMark” or the “Advisor”) has contractually agreed through July 31, 2027 to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that Total Annual Fund Operating Expenses (excluding taxes, interest, trading costs, AFFE, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 0.79% of average daily net assets. This expense limitation agreement may not be terminated prior to July 31, 2027 unless the Board of Trustees consents to an earlier revision or termination. Under the expense limitation agreement, AssetMark may recoup waived fees and expenses borne for a three-year period under specified conditions. No recoupment will be paid to AssetMark if the Fund’s current Total Annual Fund Operating Expenses exceed the expense limitation in effect at the time fees were waived or expenses were reimbursed. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE, but includes the expense reductions generated when the Fund loaned its portfolio securities. The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. AssetMark, Inc. (“AssetMark” or the “Advisor”) has contractually agreed through July 31, 2027, to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that Total Annual Fund Operating Expenses (excluding taxes, interest, trading costs, acquired fund fees and expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 1.44% of average daily net assets. This expense limitation agreement may not be terminated prior to July 31, 2027 unless the Board of Trustees consents to an earlier revision or termination. Under the expense limitation agreement, AssetMark may recoup waived fees and expenses borne for a three-year period under specified conditions. No recoupment will be paid to AssetMark if the Fund’s current Total Annual Fund Operating Expenses exceed the expense limitation in effect at the time fees were waived or expenses were reimbursed. The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities. AssetMark, Inc. (“AssetMark” or the “Advisor”) has contractually agreed through July 31, 2027, to waive its advisory fees and/or assume expenses otherwise payable by the Fund to the extent necessary to ensure that Total Annual Fund Operating Expenses (excluding taxes, interest, trading costs, acquired fund fees and expenses, expenses paid with securities lending expense offset credits and non-routine expenses) do not exceed 1.60% of average daily net assets. This expense limitation agreement may not be terminated prior to July 31, 2027 unless the Board of Trustees consents to an earlier revision or termination. Under the expense limitation agreement, AssetMark may recoup waived fees and expenses borne for a three-year period under specified conditions. No recoupment will be paid to AssetMark if the Fund’s current Total Annual Fund Operating Expenses exceed the expense limitation in effect at the time fees were waived or expenses were reimbursed. The Fund's RS Shares are newly offered. "Other Expenses” shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. “Acquired Fund Fees and Expenses” (“AFFE”) are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, including money market funds and other mutual funds, closed end funds, business development companies or certain exchange-traded funds. AFFE shown for the RS Shares are based on anticipated fees and expenses for the first full fiscal year. Note that the amount of Total Annual Fund Operating Expenses shown in the above table will differ from the Ratio of Expenses to Average Net Assets included in the “Financial Highlights” section of the Prospectus which reflects the operating expenses of the Fund and does not include indirect expenses such as AFFE but includes the expense reductions generated when the Fund loaned its portfolio securities.