Filed pursuant to Rule
Registration Nos. 333-227298; 811-23377
| NANC | Subversive Congressional Democrats Trading ETF | |
| GOP | Subversive Congressional Republicans Trading ETF | |
| (each a “Fund,” and together, the “Funds”) | ||
Each listed on CBOE BZX Exchange, Inc.
Supplement to
each Summary Prospectus and the Prospectus,
each dated
Effective immediately, the following changes are made to each Fund’s Summary Prospectus and the Prospectus.
The first sentence of the second paragraph in each Fund’s “Principal Investment Strategies” section in each Fund’s Summary Prospectus and the Prospectus is deleted and replaced with the following:
Members of Congress are permitted to actively trade stocks, options and other financial assets, including securities of companies that may be affected by the outcomes of legislative and executive meetings in which those members of the U.S. Congress participated and may have gained non-public information.
The following sentence is added as the new last sentence to the second paragraph in each Fund’s “Principal Investment Strategies” section in each Fund’s Summary Prospectus and the Prospectus:
A list of U.S. Congresspeople is included in Appendix A to the Prospectus.
The following Appendix A is added to the Prospectus:
Appendix A
(As of July 31, 2026)
| U.S. Senators | ||||
| Angela Alsobrooks | Alan Armstrong | Tammy Baldwin | Jim Banks | John Barrasso |
| Michael Bennet | Marsha Blackburn | Richard Blumenthal | Lisa Blunt Rochester | Cory Booker |
| John Boozman | Katie Britt | Ted Budd | Maria Cantwell | Shelley Moore Capito |
| Bill Cassidy | Susan Collins | Christopher Coons | John Cornyn | Catherine Cortez Masto |
| Tom Cotton | Kevin Cramer | Mike Crapo | Ted Cruz | John Curtis |
| Steve Daines | Tammy Duckworth | Richard Durbin | Joni Ernst | John Fetterman |
| Deb Fischer | Ruben Gallego | Kirsten Gillibrand | Darline Graham | Chuck Grassley |
| Bill Hagerty | Margaret Hassan | Josh Hawley | Martin Heinrich | John Hickenlooper |
| Mazie Hirono | John Hoeven | Jon Husted | Cindy Hyde-Smith | Ron Johnson |
| James Justice | Tim Kaine | Mark Kelly | John Kennedy | Andy Kim |
| Angus King | Amy Klobuchar | James Lankford | Mike Lee | Ben Ray Luján |
| Cynthia Lummis | Edward Markey | Roger Marshall | Mitch McConnell | David McCormick |
| Jeff Merkley | Ashley Moody | Jerry Moran | Bernie Moreno | Lisa Murkowski |
| Christopher Murphy | Patty Murray | Jon Ossoff | Alex Padilla | Rand Paul |
| Gary Peters | Jack Reed | Pete Ricketts | James Risch | Jacky Rosen |
| Mike Rounds | Bernard Sanders | Brian Schatz | Adam Schiff | Eric Schmitt |
| Charles Schumer | Rick Scott | Tim Scott | Jeanne Shaheen | Tim Sheehy |
| Elissa Slotkin | Tina Smith | Dan Sullivan | John Thune | Thom Tillis |
| Tommy Tuberville | Chris Van Hollen | Mark Warner | Raphael Warnock | Elizabeth Warren |
| Peter Welch | Sheldon Whitehouse | Roger Wicker | Ron Wyden | Todd Young |
| 1 |
| U.S. House of Representatives | ||||
| Alma Adams | Robert Aderholt | Pete Aguilar | Mark Alford | Rick Allen |
| Gabe Amo | Mark Amodei | Yassamin Ansari | Jodey Arrington | Jake Auchincloss |
| Brian Babin | Don Bacon | James Baird | Troy Balderson | Becca Balint |
| Andy Barr | Nanette Barragan | Tom Barrett | Michael Baumgartner | Aaron Bean |
| Joyce Beatty | Nicholas Begich | Wesley Bell | Cliff Bentz | Ami Bera |
| Jack Bergman | Donald Beyer | Stephanie Bice | Andy Biggs | Sheri Biggs |
| Gus Bilirakis | Sanford Bishop | Lauren Boebert | Suzanne Bonamici | Mike Bost |
| Brendan Boyle | Josh Brecheen | Robert Bresnahan | Shontel Brown | Julia Brownley |
| Vern Buchanan | Nikki Budzinski | Tim Burchett | Eric Burlison | Janelle Bynum |
| Ken Calvert | Kat Cammack | Salud Carbajal | Mike Carey | Andre Carson |
| Earl Carter | John Carter | Troy Carter | Greg Casar | Ed Case |
| Sean Casten | Kathy Castor | Joaquin Castro | Judy Chu | Juan Ciscomani |
| Gilbert Cisneros | Katherine Clark | Yvette Clarke | Emanuel Cleaver | Ben Cline |
| Michael Cloud | James Clyburn | Andrew Clyde | Steve Cohen | Tom Cole |
| Mike Collins | James Comer | Herbert Conaway | Lou Correa | Jim Costa |
| Joe Courtney | Angie Craig | Elijah Crane | Jeff Crank | Eric Crawford |
| Dan Crenshaw | Jasmine Crockett | Jason Crow | Henry Cuellar | Sharice Davids |
| Warren Davidson | Danny Davis | Donald Davis | Monica De La Cruz | Madeleine Dean |
| Diana DeGette | Rosa DeLauro | Suzan DelBene | Christopher Deluzio | Mark DeSaulnier |
| Scott DesJarlais | Maxine Dexter | Mario Diaz-Balart | Debbie Dingell | Lloyd Doggett |
| Byron Donalds | Troy Downing | Neal Dunn | Chuck Edwards | Sarah Elfreth |
| Jake Ellzey | Tom Emmer | Veronica Escobar | Adriano Espaillat | Ron Estes |
| Dwight Evans | Gabe Evans | Mike Ezell | Pat Fallon | Julie Fedorchak |
| Randy Feenstra | Cleo Fields | Shomari Figures | Randy Fine | Brad Finstad |
| Michelle Fischbach | Scott Fitzgerald | Brian Fitzpatrick | Charles Fleischmann | Lizzie Fletcher |
| Mike Flood | Vince Fong | Bill Foster | Valerie Foushee | Virginia Foxx |
| Lois Frankel | Scott Franklin | Laura Friedman | Maxwell Frost | Russell Fry |
| Russ Fulcher | Clay Fuller | James Gallagher | John Garamendi | Andrew Garbarino |
| Jesus Garcia | Robert Garcia | Sylvia Garcia | Brandon Gill | Laura Gillen |
| Carlos Gimenez | Jared Golden | Craig Goldman | Daniel Goldman | Jimmy Gomez |
| Vicente Gonzalez | Lance Gooden | Maggie Goodlander | Paul Gosar | Josh Gottheimer |
| Sam Graves | Adam Gray | Al Green | Morgan Griffith | Adelita Grijalva |
| Glenn Grothman | Michael Guest | Brett Guthrie | Harriet Hageman | Abraham Hamadeh |
| Josh Harder | Mike Haridopolos | Pat Harrigan | Andy Harris | Mark Harris |
| Diana Harshbarger | Jahana Hayes | Kevin Hern | Clay Higgins | French Hill |
| James Himes | Ashley Hinson | Steven Horsford | Erin Houchin | Chrissy Houlahan |
| Steny Hoyer | Val Hoyle | Richard Hudson | Jared Huffman | Bill Huizenga |
| Wesley Hunt | Jeff Hurd | Darrell Issa | Glenn Ivey | Brian Jack |
| Jonathan Jackson | Ronny Jackson | Sara Jacobs | John James | Pramila Jayapal |
| Hakeem Jeffries | Dusty Johnson | Henry Johnson | Julie Johnson | Mike Johnson |
| Jim Jordan | David Joyce | John Joyce | Sydney Kamlager-Dove | Marcy Kaptur |
| Thomas Kean | William Keating | Mike Kelly | Robin Kelly | Trent Kelly |
| Mike Kennedy | Timothy Kennedy | Ro Khanna | Jennifer Kiggans | Kevin Kiley |
| Young Kim | Brad Knott | Raja Krishnamoorthi | David Kustoff | Darin LaHood |
| Nick LaLota | Greg Landsman | Nicholas Langworthy | Rick Larsen | John Larson |
| George Latimer | Robert Latta | Michael Lawler | Laurel Lee | Summer Lee |
| Susie Lee | Teresa Leger Fernandez | Julia Letlow | Mike Levin | Sam Liccardo |
| Ted Lieu | Zoe Lofgren | Barry Loudermilk | Frank Lucas | Anna Paulina Luna |
| Morgan Luttrell | Stephen Lynch | Nancy Mace | Ryan Mackenzie | Seth Magaziner |
| 2 |
| Nicole Malliotakis | Celeste Maloy | Tracey Mann | John Mannion | Thomas Massie |
| Brian Mast | Doris Matsui | Lucy McBath | Sarah McBride | Michael McCaul |
| Lisa McClain | April McClain Delaney | Jennifer McClellan | Tom McClintock | Betty McCollum |
| Richard McCormick | Kristen McDonald Rivet | Addison McDowell | Morgan McGarvey | James McGovern |
| John McGuire | LaMonica McIver | Gregory Meeks | Analilia Mejia | Christian Menefee |
| Robert Menendez | Grace Meng | Mark Messmer | Daniel Meuser | Kweisi Mfume |
| Carol Miller | Mary Miller | Max Miller | Mariannette Miller-Meeks | Cory Mills |
| Dave Min | John Moolenaar | Barry Moore | Blake Moore | Gwen Moore |
| Riley Moore | Tim Moore | Nathaniel Moran | Joseph Morelle | Kelly Morrison |
| Jared Moskowitz | Seth Moulton | Frank Mrvan | Kevin Mullin | Gregory Murphy |
| Jerrold Nadler | Richard Neal | Joe Neguse | Troy Nehls | Dan Newhouse |
| Donald Norcross | Ralph Norman | Zachary Nunn | Jay Obernolte | Alexandria Ocasio-Cortez |
| Andrew Ogles | Johnny Olszewski | Ilhan Omar | Robert Onder | Burgess Owens |
| Frank Pallone | Gary Palmer | Jimmy Panetta | Chris Pappas | Jimmy Patronis |
| Nancy Pelosi | Marie Perez | Scott Perry | Scott Peters | Brittany Pettersen |
| August Pfluger | Chellie Pingree | Mark Pocan | Nellie Pou | Ayanna Pressley |
| Mike Quigley | Delia Ramirez | Emily Randall | Jamie Raskin | Guy Reschenthaler |
| Josh Riley | Luz Rivas | Harold Rogers | Mike Rogers | John Rose |
| Deborah Ross | David Rouzer | Chip Roy | Raul Ruiz | Michael A. Rulli |
| John Rutherford | Patrick Ryan | Maria Salazar | Andrea Salinas | Linda Sanchez |
| Steve Scalise | Mary Gay Scanlon | Janice Schakowsky | Derek Schmidt | Bradley Schneider |
| Hillary Scholten | Kim Schrier | David Schweikert | Austin Scott | Robert Scott |
| Keith Self | Pete Sessions | Terri Sewell | Brad Sherman | Jefferson Shreve |
| Lateefah Simon | Michael Simpson | Adam Smith | Adrian Smith | Christopher Smith |
| Jason Smith | Lloyd Smucker | Eric Sorensen | Darren Soto | Victoria Spartz |
| Melanie Stansbury | Greg Stanton | Pete Stauber | Elise Stefanik | Bryan Steil |
| W. Steube | Haley Stevens | Marilyn Strickland | Dale Strong | Marlin Stutzman |
| Suhas Subramanyam | Thomas R. Suozzi | Emilia Sykes | Mark Takano | David Taylor |
| Claudia Tenney | Shri Thanedar | Bennie Thompson | Glenn Thompson | Mike Thompson |
| Thomas Tiffany | William Timmons | Dina Titus | Rashida Tlaib | Jill Tokuda |
| Paul Tonko | Norma Torres | Ritchie Torres | Lori Trahan | Derek Tran |
| Michael Turner | Lauren Underwood | David Valadao | Jefferson Van Drew | Beth Van Duyne |
| Matt Van Epps | Derrick Van Orden | Juan Vargas | Gabe Vasquez | Marc Veasey |
| Nydia Velazquez | Eugene Vindman | Ann Wagner | Tim Walberg | James Walkinshaw |
| Debbie Wasserman Schultz | Maxine Waters | Bonnie Watson Coleman | Randy Weber | Daniel Webster |
| Bruce Westerman | George Whitesides | Tony Wied | Nikema Williams | Roger Williams |
| Frederica Wilson | Joe Wilson | Robert Wittman | Steve Womack | Rudy Yakym |
| Ryan Zinke |
Please retain this Supplement for future reference.
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