0001742912 2025-12-01 2026-05-31 0001742912 setf:C000224019Member 2025-12-01 2026-05-31 0001742912 setf:C000224019Member 2026-05-31 0001742912 setf:C000224019Member us-gaap:FinancialServicesSectorMember 2026-05-31 0001742912 setf:C000224019Member us-gaap:ExchangeTradedFundsMember 2026-05-31 0001742912 setf:C000224019Member us-gaap:RealEstateSectorMember 2026-05-31 0001742912 setf:C000224019Member oef:UtilitiesSectorMember 2026-05-31 0001742912 setf:C000224019Member setf:AutoPartsManufacturingMember 2026-05-31 0001742912 setf:C000224019Member setf:BanksMember 2026-05-31 0001742912 setf:C000224019Member setf:DiversifiedBanksMember 2026-05-31 0001742912 setf:C000224019Member setf:ExplorationandProductionMember 2026-05-31 0001742912 setf:C000224019Member setf:LifeInsuranceMember 2026-05-31 0001742912 setf:C000224019Member setf:ConsumerFinanceMember 2026-05-31 0001742912 setf:C000224019Member setf:ChemicalsMember 2026-05-31 0001742912 setf:C000224019Member setf:PipelineMember 2026-05-31 0001742912 setf:C000224019Member setf:TravelandLodgingMember 2026-05-31 0001742912 setf:C000224019Member setf:IndustrialOtherMember 2026-05-31 0001742912 setf:C000224019Member setf:RefiningandMarketingMember 2026-05-31 0001742912 setf:C000224019Member setf:PropertyandCasualtyInsuranceMember 2026-05-31 0001742912 setf:C000224019Member setf:HardwareMember 2026-05-31 0001742912 setf:C000224019Member oef:CommunicationsSectorMember 2026-05-31 0001742912 setf:C000224019Member setf:CashAndOtherMember 2026-05-31 0001742912 setf:C000224019Member setf:AresCapitalCorpMember 2026-05-31 0001742912 setf:C000224019Member setf:IShares0To5YearHighYieldCorporateBondETFMember 2026-05-31 0001742912 setf:C000224019Member setf:HerculesCapitalIncMember 2026-05-31 0001742912 setf:C000224019Member setf:AllianceBernsteinGlobalHighIncomeFundIncMember 2026-05-31 0001742912 setf:C000224019Member setf:ISharesJPMorganEMHighYieldBondETFMember 2026-05-31 0001742912 setf:C000224019Member setf:SimonPropertyGroupIncMember 2026-05-31 0001742912 setf:C000224019Member setf:GolubCapitalBDCIncMember 2026-05-31 0001742912 setf:C000224019Member setf:JPMorganChaseandCoSeriesEE600PerpetualCallable03012026Member 2026-05-31 0001742912 setf:C000224019Member setf:GoodyearTireandRubberCoCallable04152029Member 2026-05-31 0001742912 setf:C000224019Member setf:InvescoEmergingMarketsSovereignDebtETFMember 2026-05-31 0001742912 setf:C000224020Member 2025-12-01 2026-05-31 0001742912 setf:C000224020Member 2026-05-31 0001742912 setf:C000224020Member us-gaap:BankingMember 2026-05-31 0001742912 setf:C000224020Member us-gaap:OilAndGasMember 2026-05-31 0001742912 setf:C000224020Member oef:ConsumerStaplesSectorMember 2026-05-31 0001742912 setf:C000224020Member us-gaap:HealthcareSectorMember 2026-05-31 0001742912 setf:C000224020Member oef:MaterialsSectorMember 2026-05-31 0001742912 setf:C000224020Member setf:InsuranceMember 2026-05-31 0001742912 setf:C000224020Member oef:UtilitiesSectorMember 2026-05-31 0001742912 setf:C000224020Member setf:SoftwareandTechServicesMember 2026-05-31 0001742912 setf:C000224020Member oef:ConsumerDiscretionarySectorMember 2026-05-31 0001742912 setf:C000224020Member us-gaap:FinancialServicesSectorMember 2026-05-31 0001742912 setf:C000224020Member setf:TechHardwareandSemiconductorsMember 2026-05-31 0001742912 setf:C000224020Member setf:MediaMember 2026-05-31 0001742912 setf:C000224020Member setf:IndustrialServicesMember 2026-05-31 0001742912 setf:C000224020Member oef:CommunicationsSectorMember 2026-05-31 0001742912 setf:C000224020Member oef:IndustrialSectorMember 2026-05-31 0001742912 setf:C000224020Member setf:ConsumerDiscretionaryServicesMember 2026-05-31 0001742912 setf:C000224020Member setf:CashAndOtherMember 2026-05-31 0001742912 setf:C000224020Member setf:CiscoSystemsIncMember 2026-05-31 0001742912 setf:C000224020Member setf:OmnicomGroupIncMember 2026-05-31 0001742912 setf:C000224020Member setf:CitizensFinancialGroupIncMember 2026-05-31 0001742912 setf:C000224020Member setf:EversourceEnergyMember 2026-05-31 0001742912 setf:C000224020Member setf:PrincipalFinancialGroupIncMember 2026-05-31 0001742912 setf:C000224020Member setf:UnitedParcelServiceIncClassBMember 2026-05-31 0001742912 setf:C000224020Member setf:PerrigoCoPLCMember 2026-05-31 0001742912 setf:C000224020Member setf:GSKPLCADRMember 2026-05-31 0001742912 setf:C000224020Member setf:TotalEnergiesSEADRMember 2026-05-31 0001742912 setf:C000224020Member setf:FranklinResourcesIncMember 2026-05-31 iso4217:USD pure setf:Holdings false N-1A 0001742912 N-CSRS Tidal Trust I 2026-05-31 semi-annual shareholder report Sound Enhanced Fixed Income ETF FXED NYSE This <span id="xdx_904_eoef--ShareholderReportAnnualOrSemiAnnual_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_zpo2wAmVo1uc">semi-annual shareholder report</span> contains important information about the Sound Enhanced Fixed Income ETF (the "Fund") for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span id="xdx_908_eoef--AddlInfoWebsite_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_zA90nIXqZZp2">www.soundetfs.com/fxed/</span>. You can also request this information by contacting us at <span id="xdx_909_eoef--AddlInfoPhoneNumber_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_z7d71DF4YVu9">(833) 916-9056</span> or by writing Sound Enhanced Fixed Income ETF, c/o U.S. Bank Global Fund Services, P.O. Box 701, Milwaukee, Wisconsin 53201-0701. www.soundetfs.com/fxed/ (833) 916-9056 <p id="xdx_801_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000224019Member_dU_zfSKbFU5xizl" style="font: 700 11pt/1.4 Gotham Narrow-Bold,Arial; margin: -2pt 0 0; text-align-last: auto; display: block; min-height: 14.66px; align-content: center; box-sizing: border-box; color: #231f20; text-indent: 0; line-height: 11pt">What were the Fund costs for the past six months?</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 15.29px; align-content: center; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0; line-height: 11pt"><span style="box-sizing: border-box; font-size: 9pt">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: auto; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 8pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Fund Name</span> </div> </th> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 8pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 8pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Costs paid as a percentage of a $10,000 investment*</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98E_eoef--ClassName_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_zLY76hUxGqG3" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Sound Enhanced Fixed Income ETF</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_983_eoef--ExpensesPaidAmt_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_z6sjNq4nJR6c" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">$25</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98C_eoef--ExpenseRatioPct_dp_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_fKg_____zG6KdHPzuLfc" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">0.49%</span> </div> </td> </tr> </table> </div> </div> </div> <table cellpadding="0" cellspacing="0" style="font: 8pt/1.4 Gotham Narrow-Light,Arial; color: #4f4f4f; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F08_zmSpuGCGkN1k" style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td id="xdx_F1A_z7WrHOcsJDdi" style="text-align: justify">Costs paid as a percentage of a $10,000 investment is an annualized figure.</td> </tr></table> Sound Enhanced Fixed Income ETF 25 0.0049 <p id="xdx_80A_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000224019Member_dU_zQfyNq9Ni0sh" style="font: 700 13pt/1.4 Gotham Narrow-Bold,Arial; margin: 4pt 0 -4pt; text-align-last: auto; display: block; min-height: 24.26px; align-content: center; line-height: 24.26px; box-sizing: border-box; color: #231f20; text-indent: 0">Key Fund Statistics</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0 0 3pt; text-align-last: auto; display: block; min-height: 18.67px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0"><span style="box-sizing: border-box; font-size: 9pt">(as of </span><span style="box-sizing: border-box; font-size: 9pt"><span style="box-sizing: border-box">May 31, 2026</span> </span><span style="box-sizing: border-box; font-size: 9pt">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0; margin-bottom: 1pt"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Fund Size (Thousands)</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_984_eus-gaap--AssetsNet_iI_pn3n3_c20260531__oef--ClassAxis__custom--C000224019Member_zdGvilXbf7Nl" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">$39,924</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Number of Holdings</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98C_eoef--HoldingsCount_iI_uHoldings_c20260531__oef--ClassAxis__custom--C000224019Member_z39TqwCeige1" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">60</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Total Advisory Fee Paid</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98A_eoef--AdvisoryFeesPaidAmt_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_zc66h5lTbsdi" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">$100,401</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Portfolio Turnover Rate</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_989_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20251201__20260531__oef--ClassAxis__custom--C000224019Member_zoZA17tDvXCi" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3%</span> </div> </td> </tr> </table> </div> </div> </div>

39924000

60 100401

0.03

<p id="xdx_805_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000224019Member_dU_zUNUXh1QqTti" style="font: 700 18pt/1.4 Gotham Narrow-Bold,Arial; margin: 8pt 0 -4pt; text-align-last: auto; display: block; min-height: 33.6px; align-content: center; line-height: 33.6px; box-sizing: border-box; color: #231f20; text-indent: 0">What did the Fund invest in?</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.67px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0"><span style="box-sizing: border-box; font-size: 9pt">(as of </span><span style="box-sizing: border-box; font-size: 9pt"><span style="box-sizing: border-box">May 31, 2026</span> </span><span style="box-sizing: border-box; font-size: 9pt">)</span> </p> <div style="border-right: #000 0.94pt solid; margin: 0 0 3.75pt; padding: 0 20pt 0 0; grid-column: 1 / 2; grid-row: 3 / 4; box-sizing: border-box; text-align-last: auto; width: 286pt; height: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 13pt/1.4 Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #231f20; text-indent: 0; line-height: 13pt"> </p> <p style="font: 700 13pt/1.4 Gotham Narrow-Bold,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 17.33px; align-content: center; box-sizing: border-box; color: #231f20; text-indent: 0; line-height: 13pt">Sector/Security Type - Investments</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0; text-align-last: auto; display: block; min-height: 17.95px; align-content: center; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0; line-height: 13pt"><span style="box-sizing: border-box; font-size: 9pt">(% of total net assets)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">sector</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Financial Services</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98A_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__us-gaap--FinancialServicesSectorMember_zRV5LQWXQT9g" style="box-sizing: border-box; text-align-last: auto">0.203</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Exchange Traded Funds</div> </td> <td style="box-sizing: border-box"> <div id="xdx_983_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__us-gaap--ExchangeTradedFundsMember_zwKVThxnHJhd" style="box-sizing: border-box; text-align-last: auto">0.153</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Real Estate</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98C_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__us-gaap--RealEstateSectorMember_ztxOZHqMLU8l" style="box-sizing: border-box; text-align-last: auto">0.109</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Utilities</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98D_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__oef--UtilitiesSectorMember_z6PERx98qrYa" style="box-sizing: border-box; text-align-last: auto">0.064</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Auto Parts Manufacturing</div> </td> <td style="box-sizing: border-box"> <div id="xdx_981_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--AutoPartsManufacturingMember_zYvXZCYfmK4" style="box-sizing: border-box; text-align-last: auto">0.06</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Banks</div> </td> <td style="box-sizing: border-box"> <div id="xdx_982_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--BanksMember_zzdocwOMv773" style="box-sizing: border-box; text-align-last: auto">0.06</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Diversified Banks</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98F_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--DiversifiedBanksMember_zSFluQB6cd38" style="box-sizing: border-box; text-align-last: auto">0.047</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Exploration & Production</div> </td> <td style="box-sizing: border-box"> <div id="xdx_980_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--ExplorationandProductionMember_z3tIuQbTbBzj" style="box-sizing: border-box; text-align-last: auto">0.041</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Life Insurance</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98C_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--LifeInsuranceMember_zvEKfIxSibHa" style="box-sizing: border-box; text-align-last: auto">0.038</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Consumer Finance</div> </td> <td style="box-sizing: border-box"> <div id="xdx_987_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--ConsumerFinanceMember_zCkgpNXS2fpe" style="box-sizing: border-box; text-align-last: auto">0.037</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Chemicals</div> </td> <td style="box-sizing: border-box"> <div id="xdx_985_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--ChemicalsMember_zuh8fIqb0J6" style="box-sizing: border-box; text-align-last: auto">0.023</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Pipeline</div> </td> <td style="box-sizing: border-box"> <div id="xdx_987_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--PipelineMember_z88mqXLnjtX3" style="box-sizing: border-box; text-align-last: auto">0.022</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Travel & Lodging</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98C_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--TravelandLodgingMember_zEQE3stXuTQ6" style="box-sizing: border-box; text-align-last: auto">0.022</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Industrial Other</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98C_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--IndustrialOtherMember_z4wD9TUmYnSk" style="box-sizing: border-box; text-align-last: auto">0.021</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Refining & Marketing</div> </td> <td style="box-sizing: border-box"> <div id="xdx_983_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--RefiningandMarketingMember_z7c5WCK27Onk" style="box-sizing: border-box; text-align-last: auto">0.02</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Property & Casualty Insurance</div> </td> <td style="box-sizing: border-box"> <div id="xdx_988_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--PropertyandCasualtyInsuranceMember_zOCyrmytdOkj" style="box-sizing: border-box; text-align-last: auto">0.02</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Hardware</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98B_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--HardwareMember_zUMzfxnNcpo4" style="box-sizing: border-box; text-align-last: auto">0.019</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Wireless Telecommunications Services</div> </td> <td style="box-sizing: border-box"> <div id="xdx_988_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__oef--CommunicationsSectorMember_zwEpq0UwPyx5" style="box-sizing: border-box; text-align-last: auto">0.019</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Cash & Other</div> </td> <td style="box-sizing: border-box"> <div id="xdx_986_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224019Member__oef--IndustrySectorAxis__custom--CashAndOtherMember_ziZsvkTAOKc" style="box-sizing: border-box; text-align-last: auto">0.022</div> </td> </tr> </table> </div> </div><img alt="bar" src="qesaz3wbo1mr9ppmgs.jpg" style="box-sizing: border-box; width: 240pt; height: auto"/> </div> </div> </div> <p style="font: 8pt/1.4 Gotham Narrow-Light,Arial; margin: 0 0 4pt; box-sizing: border-box; text-align-last: auto; display: block; color: #4f4f4f; text-align: left; text-indent: 0"> </p> </div> </div> </div> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: -20pt 0 8pt; box-sizing: border-box; text-align-last: auto; display: block; color: #4f4f4f; text-align: left; text-indent: 0"> </p> 0.203 0.153 0.109 0.064 0.06 0.06 0.047 0.041 0.038 0.037 0.023 0.022 0.022 0.021 0.02 0.02 0.019 0.019 0.022 <div id="xdx_801_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000224019Member_dU_zFBiuzaei91j" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 12pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; font-weight: 700; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Top Ten Holdings</span> </div> </th> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 12pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">(% of total net assets)</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Ares Capital Corp.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_986_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--AresCapitalCorpMember_z6Jqq1QnmIVe" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.2</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">iShares 0-5 Year High Yield Corporate Bond ETF</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98E_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--IShares0To5YearHighYieldCorporateBondETFMember_zTfSfSIblyJ7" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.1</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Hercules Capital, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_983_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--HerculesCapitalIncMember_zLBpQyxxIR0d" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.0</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">AllianceBernstein Global High Income Fund, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--AllianceBernsteinGlobalHighIncomeFundIncMember_z6O3LQVuct0c" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.9</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">iShares J.P. Morgan EM High Yield Bond ETF</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--ISharesJPMorganEMHighYieldBondETFMember_zEYnp20eUru2" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.9</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Simon Property Group, Inc. - REIT</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_980_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--SimonPropertyGroupIncMember_zp4dcUXoIZO1" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.7</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Golub Capital BDC, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98E_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--GolubCapitalBDCIncMember_zpz7bdHEMxlj" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.6</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">JPMorgan Chase & Co. Series EE, 6.00%, Perpetual</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_988_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--JPMorganChaseandCoSeriesEE600PerpetualCallable03012026Member_zqcNsFTXcFGe" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.5</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Goodyear Tire & Rubber Co. (Callable 04/15/2029)</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_982_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--GoodyearTireandRubberCoCallable04152029Member_zN5zoUWQbNz9" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.4</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Invesco Emerging Markets Sovereign Debt ETF</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_980_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224019Member__oef--LargestHoldingAxis__custom--InvescoEmergingMarketsSovereignDebtETFMember_zQuVNG7Iroe3" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">2.3</span> </div> </td> </tr> </table> </div> 0.032 0.031 0.030 0.029 0.029 0.027 0.026 0.025 0.024 0.023 Sound Equity Dividend Income ETF DIVY NYSE This <span id="xdx_909_eoef--ShareholderReportAnnualOrSemiAnnual_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_zwBVBDinHwY8">semi-annual shareholder report</span> contains important information about the Sound Equity Dividend Income ETF (the "Fund") for the period December 1, 2025 to May 31, 2026. semi-annual shareholder report You can find additional information about the Fund at <span id="xdx_90A_eoef--AddlInfoWebsite_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_zXpXHr4liiu6">www.soundetfs.com/divy</span>. You can also request this information by contacting us at <span id="xdx_90F_eoef--AddlInfoPhoneNumber_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_zWviaT6bI2K6">(833) 916-9056</span> or by writing Sound Equity Dividend Income ETF, c/o U.S. Bank Global Fund Services, P.O. Box 701, Milwaukee, Wisconsin 53201-0701. www.soundetfs.com/divy (833) 916-9056 <p id="xdx_801_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000224020Member_dU_zSLGQuGJMQ64" style="font: 700 11pt/1.4 Gotham Narrow-Bold,Arial; margin: -2pt 0 0; text-align-last: auto; display: block; min-height: 14.66px; align-content: center; box-sizing: border-box; color: #231f20; text-indent: 0; line-height: 11pt">What were the Fund costs for the past six months?</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 15.29px; align-content: center; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0; line-height: 11pt"><span style="box-sizing: border-box; font-size: 9pt">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: auto; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 8pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Fund Name</span> </div> </th> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 8pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 8pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Costs paid as a percentage of a $10,000 investment*</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_988_eoef--ClassName_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_zXhcoug1G0Lg" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Sound Equity Dividend Income ETF</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_985_eoef--ExpensesPaidAmt_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_z1jofyRPKdE1" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">$24</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_982_eoef--ExpenseRatioPct_dp_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_fKg_____zjWLbBOQejI2" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">0.45%</span> </div> </td> </tr> </table> </div> </div> </div> <table cellpadding="0" cellspacing="0" style="font: 8pt/1.4 Gotham Narrow-Light,Arial; color: #4f4f4f; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0B_zhslJK45XYme" style="width: 15pt; text-align: right">*</td><td style="width: 5pt"></td><td id="xdx_F18_zaOrWRIzBb83" style="text-align: justify">Costs paid as a percentage of a $10,000 investment is an annualized figure.</td> </tr></table> Sound Equity Dividend Income ETF 24 0.0045 <p id="xdx_80A_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000224020Member_dU_zuV6RB2VepBi" style="font: 700 13pt/1.4 Gotham Narrow-Bold,Arial; margin: 4pt 0 -4pt; text-align-last: auto; display: block; min-height: 24.26px; align-content: center; line-height: 24.26px; box-sizing: border-box; color: #231f20; text-indent: 0">Key Fund Statistics</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0 0 3pt; text-align-last: auto; display: block; min-height: 18.67px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0"><span style="box-sizing: border-box; font-size: 9pt">(as of </span><span style="box-sizing: border-box; font-size: 9pt"><span style="box-sizing: border-box">May 31, 2026</span> </span><span style="box-sizing: border-box; font-size: 9pt">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0; margin-bottom: 1pt"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Fund Size (Thousands)</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_982_eus-gaap--AssetsNet_iI_pn3n3_c20260531__oef--ClassAxis__custom--C000224020Member_zJlbmTXtvnRh" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">$28,426</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Number of Holdings</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_989_eoef--HoldingsCount_iI_uHoldings_c20260531__oef--ClassAxis__custom--C000224020Member_zq5ErZVylt6l" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">36</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Total Advisory Fee Paid</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_981_eoef--AdvisoryFeesPaidAmt_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_zC6S6vUogoFl" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">$64,151</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Portfolio Turnover Rate</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_985_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20251201__20260531__oef--ClassAxis__custom--C000224020Member_zqwUHXYHvtFj" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">17%</span> </div> </td> </tr> </table> </div> </div> </div> <p style="font: 8pt/1.4 Gotham Narrow-Light,Arial; margin: 2pt 0 4pt; box-sizing: border-box; text-align-last: auto; display: block; color: #4f4f4f; text-align: left; text-indent: 0"><span style="box-sizing: border-box"></span> </p>

28426000

36 64151

0.17

<p id="xdx_805_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000224020Member_dU_zk4kzc9nNq43" style="font: 700 18pt/1.4 Gotham Narrow-Bold,Arial; margin: 8pt 0 -4pt; text-align-last: auto; display: block; min-height: 33.6px; align-content: center; line-height: 33.6px; box-sizing: border-box; color: #231f20; text-indent: 0">What did the Fund invest in?</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.67px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0"><span style="box-sizing: border-box; font-size: 9pt">(as of </span><span style="box-sizing: border-box; font-size: 9pt"><span style="box-sizing: border-box">May 31, 2026</span> </span><span style="box-sizing: border-box; font-size: 9pt">)</span> </p> <div style="border-right: #000 0.94pt solid; margin: 0 0 3.75pt; padding: 0 20pt 0 0; grid-column: 1 / 2; grid-row: 3 / 4; box-sizing: border-box; text-align-last: auto; width: 286pt; height: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 13pt/1.4 Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #231f20; text-indent: 0; line-height: 13pt"> </p> <p style="font: 700 13pt/1.4 Gotham Narrow-Bold,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 17.33px; align-content: center; box-sizing: border-box; color: #231f20; text-indent: 0; line-height: 13pt">Sector/Security Type - Investments</p> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: 0; text-align-last: auto; display: block; min-height: 17.95px; align-content: center; box-sizing: border-box; color: #4f4f4f; text-align: left; text-indent: 0; line-height: 13pt"><span style="box-sizing: border-box; font-size: 9pt">(% of total net assets)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">sector</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Banking</div> </td> <td style="box-sizing: border-box"> <div id="xdx_989_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__us-gaap--BankingMember_z21ypSgpu2a1" style="box-sizing: border-box; text-align-last: auto">12.8%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Oil & Gas</div> </td> <td style="box-sizing: border-box"> <div id="xdx_987_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__us-gaap--OilAndGasMember_zWOM7cXrOqC6" style="box-sizing: border-box; text-align-last: auto">12.1%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Consumer Staple Products</div> </td> <td style="box-sizing: border-box"> <div id="xdx_988_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__oef--ConsumerStaplesSectorMember_zfcmWFNXQg81" style="box-sizing: border-box; text-align-last: auto">10.1%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Health Care</div> </td> <td style="box-sizing: border-box"> <div id="xdx_987_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__us-gaap--HealthcareSectorMember_zEyVMd3cMY7i" style="box-sizing: border-box; text-align-last: auto">8.9%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Materials</div> </td> <td style="box-sizing: border-box"> <div id="xdx_986_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__oef--MaterialsSectorMember_ziRrv3wkzKPj" style="box-sizing: border-box; text-align-last: auto">8.1%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Insurance</div> </td> <td style="box-sizing: border-box"> <div id="xdx_988_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--InsuranceMember_zKykYwVC1xg9" style="box-sizing: border-box; text-align-last: auto">6.8%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Utilities</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98D_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__oef--UtilitiesSectorMember_zCO1ZOwFjc5f" style="box-sizing: border-box; text-align-last: auto">6.7%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Software & Tech Services</div> </td> <td style="box-sizing: border-box"> <div id="xdx_987_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--SoftwareandTechServicesMember_zRoRN2V9GkLa" style="box-sizing: border-box; text-align-last: auto">5.4%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Consumer Discretionary Products</div> </td> <td style="box-sizing: border-box"> <div id="xdx_981_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__oef--ConsumerDiscretionarySectorMember_z3Pv5ahf6Zg5" style="box-sizing: border-box; text-align-last: auto">5.2%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Financial Services</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98B_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__us-gaap--FinancialServicesSectorMember_zePEBoMPmAak" style="box-sizing: border-box; text-align-last: auto">4.8%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Tech Hardware & Semiconductors</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98C_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--TechHardwareandSemiconductorsMember_zhFMyVqn3g2a" style="box-sizing: border-box; text-align-last: auto">4.5%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Media</div> </td> <td style="box-sizing: border-box"> <div id="xdx_989_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--MediaMember_zCejBsG3xXc" style="box-sizing: border-box; text-align-last: auto">4.2%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Industrial Services</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98C_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--IndustrialServicesMember_zNrRqe6W88Gi" style="box-sizing: border-box; text-align-last: auto">3.6%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Telecommunications</div> </td> <td style="box-sizing: border-box"> <div id="xdx_982_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__oef--CommunicationsSectorMember_zMTvD0L0oyVc" style="box-sizing: border-box; text-align-last: auto">3.0%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Industrial Products</div> </td> <td style="box-sizing: border-box"> <div id="xdx_98D_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__oef--IndustrialSectorMember_z3zeEM4j9yn3" style="box-sizing: border-box; text-align-last: auto">2.1%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Consumer Discretionary Services</div> </td> <td style="box-sizing: border-box"> <div id="xdx_981_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--ConsumerDiscretionaryServicesMember_zB0UGOt4zhYi" style="box-sizing: border-box; text-align-last: auto">1.2%</div> </td> </tr> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto">Cash & Other</div> </td> <td style="box-sizing: border-box"> <div id="xdx_985_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000224020Member__oef--IndustrySectorAxis__custom--CashAndOtherMember_zsIQvDeBuxCa" style="box-sizing: border-box; text-align-last: auto">0.5%</div> </td> </tr> </table> </div> </div><img alt="bar" src="qes5lbh1mr9prohc.jpg" style="box-sizing: border-box; width: 240pt; height: auto"/> </div> </div> </div> <p style="font: 8pt/1.4 Gotham Narrow-Light,Arial; margin: 0 0 4pt; box-sizing: border-box; text-align-last: auto; display: block; color: #4f4f4f; text-align: left; text-indent: 0"> </p> </div> </div> </div> <p style="font: 10pt/1.4 Gotham Narrow-Light,Arial; margin: -20pt 0 8pt; box-sizing: border-box; text-align-last: auto; display: block; color: #4f4f4f; text-align: left; text-indent: 0"> </p> 0.128 0.121 0.101 0.089 0.081 0.068 0.067 0.054 0.052 0.048 0.045 0.042 0.036 0.030 0.021 0.012 0.005 <div id="xdx_803_eoef--LargestHoldingsTableTextBlock_hoef--ClassAxis__custom--C000224020Member_dU_zKrWo3ZeCE9b" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: auto; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; line-height: normal"> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal; font-size: 16px"> <div style="font: 700 13pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Top Ten Holdings</span> </div> </th> <th style="border-bottom: #4f4f4f 1.4pt solid; box-sizing: border-box; line-height: normal; font-size: 16px"> <div style="font: 700 13pt Gotham Narrow-Bold,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #231f20; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">(% of total net assets)</span> </div> </th> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Cisco Systems, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--CiscoSystemsIncMember_zwEG5dB94B0h" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">4.5</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Omnicom Group, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_986_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--OmnicomGroupIncMember_zKs0FZsm3U5b" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">4.2</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Citizens Financial Group, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98E_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--CitizensFinancialGroupIncMember_zpza0mvpzyX5" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.9</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Eversource Energy</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_980_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--EversourceEnergyMember_zUHJaNXdsyf7" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.7</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Principal Financial Group, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--PrincipalFinancialGroupIncMember_zsJZTiwK6xvd" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.6</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">United Parcel Service, Inc. -</span> </div> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Class B</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_987_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--UnitedParcelServiceIncClassBMember_zAaBXO4afyl5" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.6</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Perrigo Co. PLC</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--PerrigoCoPLCMember_zycsDkmTqq9j" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.5</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">GSK PLC, ADR</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_98B_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--GSKPLCADRMember_zGDkkQ6yoEg9" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.5</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">TotalEnergies SE, ADR</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_984_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--TotalEnergiesSEADRMember_zxsTB9u70rr7" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.4</span> </div> </td> </tr> <tr style="box-sizing: border-box; line-height: normal"> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div style="font: bold 9pt Gotham Narrow-Medium,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">Franklin Resources, Inc.</span> </div> </td> <td style="border-bottom: #4f4f4f 1pt solid; box-sizing: border-box; line-height: normal"> <div id="xdx_984_eoef--PctOfNav_iI_dp_c20260531__oef--ClassAxis__custom--C000224020Member__oef--LargestHoldingAxis__custom--FranklinResourcesIncMember_zLv9b2b7QCK7" style="font: 9pt Gotham Narrow-Light,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #4f4f4f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px">3.3</span> </div> </td> </tr> </table> </div> 0.045 0.042 0.039 0.037 0.036 0.036 0.035 0.035 0.034 0.033 Costs paid as a percentage of a $10,000 investment is an annualized figure. Costs paid as a percentage of a $10,000 investment is an annualized figure.