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FUND
SUMMARY – DAY HAGAN SMART SECTOR ETF
Investment
Objective:
<p id="xdx_A83_eoef--ObjectivePrimaryTextBlock_zw4XONwths6i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s investment objective is to seek long-term capital appreciation and preservation of capital.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A82_eoef--ExpenseNarrativeTextBlock_zqii0dklM3fk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A88_eoef--ShareholderFeesTableTextBlock_z4ecos2rLwY8"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_z1JPtq5Y2uF4" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 6.8pt"></td>
<td id="xdx_496_20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_zlcsc5c8dq62" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; vertical-align: bottom; padding-left: 5pt; text-align: center"></td></tr>
<tr id="xdx_408_eoef--ShareholderFeeOther_dn_zGnxB6mnAw4i" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 80%; padding-left: 6.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 20%; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A87_eoef--AnnualFundOperatingExpensesTableTextBlock_zvB4JY1zHow7"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zoaAsuPwmGe8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_496_20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_zOPdNcZ7yril" style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"> </td></tr>
<tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_zSYiuXFmE5le" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; width: 80%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee<sup id="xdx_F42_zXqVSLRVJeD7">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.68%</span></td></tr>
<tr id="xdx_403_eoef--DistributionAndService12b1FeesOverAssets_dpn_zlhSpYgSCZRi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_409_eoef--OtherExpensesOverAssets_dpn_zcpFSyDfyif7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses<sup id="xdx_F4D_zIfrbSrh2N25">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_406_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_z0u9UW8DyMq7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F4F_zThCAXV7z4K2">(2)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.08%</span></td></tr>
<tr id="xdx_401_eoef--ExpensesOverAssets_dpn_zDKacoAeRiNi" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Operating Expenses</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.76%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F0A_zFkwUg4yKLsj" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="text-align: justify"><span id="xdx_F1B_zy2gHHy7nmrd" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
management fee is structured as a “unified fee,” out of which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F0D_zO9giTy5PAGi" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2)</span></td><td style="text-align: justify"><span id="xdx_F12_zShAxlZmJkOa" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies. <span id="xdx_90C_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zTEepfG0L0He">The Total Annual Fund Operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0068
0.0000
0.0000
0.0008
0.0076
The Total Annual Fund Operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
Example:
<p id="xdx_A86_eoef--ExpenseExampleNarrativeTextBlock_z63QTn6Kwksi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then sell or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A80_eoef--ExpenseExampleWithRedemptionTableTextBlock_zEhxAG5BC99c"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_z77MUBHducOb" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_48E_eoef--ExpenseExampleYear01_zrntUfC76tHk" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 31pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_48B_eoef--ExpenseExampleYear03_zMWE5fZe5y87" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_483_eoef--ExpenseExampleYear05_zVfkk2vRtkR1" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 29.15pt; padding-left: 30.45pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_48E_eoef--ExpenseExampleYear10_zXjQa8T8QUW9" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 1.8pt; padding-left: 29.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_411_20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_zUvheXiYdI78" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.85pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$78</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$243</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 28.95pt; padding-left: 30.45pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$422</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 1.7pt; padding-left: 29.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$942</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.85pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 28.95pt; padding-left: 30.45pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 1.7pt; padding-left: 29.1pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
78
243
422
942
Portfolio
Turnover:
<p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_zKGh46d4wFib" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>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 fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zRG1s6Z7ziEh">137%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
1.37
Principal
Investment Strategy
<p id="xdx_A80_eoef--StrategyNarrativeTextBlock_zyZicUatZ7rf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s investment advisor, Day Hagan Asset Management (the “Advisor”), actively manages the Fund’s portfolio
using proprietary investment models. The Fund is considered a “fund of funds” that, under normal market conditions, seeks
to achieve its investment objective by principally investing in unaffiliated equity exchange traded funds (“ETFs”) that track
the performance of the individual sectors (“Sectors”) of the S&P 500 Index (“Index”). While the Fund expects
to invest primarily in ETFs, the Fund may also invest directly in the common stocks represented in the Index. The Fund will attempt to
enhance returns relative to the Index by overweighting and underweighting its exposure to the Sectors relative to the Index and may reduce
its overall exposure to ETFs as determined by its risk management model.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund utilizes a model to determine its allocation to each Sector. The model combines sector-specific price-based, economic, fundamental
and behavioral indicators to form a composite for each Sector. By combining multiple and diverse indicators, which historically have
been shown to add value in Sector allocation decisions, the model seeks to objectively assess the weight of the evidence and generate
sector allocation recommendations. As of June 30, 2026, the Sectors are real estate, utilities, consumer staples, information technology,
health care, financials, energy, consumer discretionary, materials, industrials, and communications services. The Fund’s allocation
to a particular Sector may be greater than 25%. Conversely, the Fund’s allocation to a particular Sector may be reduced to 0% if
the Sector’s model composite is at low levels.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s risk management model defines the Fund’s overall equity allocation target. The model reading represents the net percentage
of indicators that are bullish. By taking the weight of the evidence of technical, monetary, economic, valuation, and sentiment indicators,
the model measures the potential risk level of factors the stock market faces.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
normal market conditions, the Fund intends to invest predominantly in ETFs and common stock but will reduce its exposure by as much as
50% of its assets during times that the model deems the market to have a low reward-to-risk ratio from a historical perspective. During
these times, the Fund may hold up to 50% of its assets in cash and cash equivalents, including U.S. Treasury securities and money market
funds. The Fund will increase its equity investments when the risk model returns to levels indicating that major risks have potentially
subsided.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s portfolio is rebalanced monthly, although the Advisor may engage in intra-month trades if the models show substantial changes.
The Fund actively trades its portfolio securities in an attempt to achieve its investment objective; trading activity may also be increased
in periods of high market volatility.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_gRBRTB-PUGIC_zZyoKocDggJ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary and you could lose money on your investment in the Fund and those losses could
be significant.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment. These risks affect the Fund directly as well as through the ETFs in which it invests.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveTradingRiskMember_zkEnJffg1fi3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active
Trading Risk. </b>The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance)
and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Under certain market
conditions, the Fund’s turnover may be very high and considerably higher than that of other funds.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zp4XltuMDu2a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--BasicMaterialsSectorRiskMember_zWU7RZKxTYg5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic
Materials Sector Risk.</b> Companies operating in the materials sector may be adversely affected by changes in world events, political,
environmental and economic conditions, energy conservation, environmental policies, commodity price volatility, changes in exchange rates,
imposition of import controls, increased competition, depletion of resources and labor relations.</span></p><p id="xdx_A91_zKXBT3OyqRr7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zQVAA5vnU0T1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk</b>. At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommunicationsServicesSectorRiskMember_z1MUXmZU2edl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Communications
Services Sector Risk. </b>Companies in the communications services sector may be affected by industry competition, substantial capital
requirements, government regulations and obsolescence of communications products and services due to technological advancement. Companies
may encounter cash flow strains due to the need to commit substantial capital to developing new products and services using new technology.
Technological innovations may make certain current services obsolete.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConsumerDiscretionarySectorRiskMember_zIGddJbkOa41" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consumer
Discretionary Sector Risk.</b> The success of consumer product manufacturers and retailers is tied closely to the performance of domestic
and international economies, interest rates, exchange rates, competition, consumer confidence, changes in demographics and consumer preferences.
Companies in the consumer discretionary sector depend heavily on disposable household income and consumer spending, and may be strongly
affected by social trends and marketing campaigns. These companies may be subject to severe competition, which may have an adverse impact
on their profitability.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConsumerStaplesSectorRiskMember_zJ9SXho4BBXa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consumer
Staples Sector Risk.</b> The consumer staples sector may be affected by the regulation of various product components and production methods,
marketing campaigns and other factors affecting consumer demand. Tobacco companies, in particular, may be adversely affected by new laws,
regulations and litigation. The consumer staples sector may also be adversely affected by changes or trends in commodity prices, which
may be influenced by unpredictable factors.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z6O5JLWA1qgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk. </b>The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ZVIEHDY_zRxWwxJOKfif" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_ztsp2er5Ts92">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zvo7xdSi9Edh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-JEM_zX5nBduZTgk5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p id="xdx_A93_zahq46Z8XSO7" style="margin-top: 0; margin-bottom: 0"> </p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergySectorRiskMember_zeZ0tXDqqA88" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Energy
Sector Risk.</b> Companies operating in the energy sector may be adversely affected by changes in worldwide energy prices, exploration
and production spending. In addition, changes in government regulation, world events and political and economic conditions can affect
these companies. These companies also are at risk of civil liability from accidents resulting in injury, loss of life or property, pollution
or other environmental damage claims and risk of loss from terrorism, war and natural disasters. Commodity price volatility, changes
in exchange rates, imposition of import controls, increased competition, depletion of resources, development of alternative energy sources,
technological developments, geopolitical conflict and related economic sanctions and labor relations also could affect companies in this
sector.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zTqpdKrg0jjb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zhheMdpohLgh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
Sector Risk<i>.</i></b> Performance of companies in the financial sector may be adversely impacted by many factors, including, among
others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in
credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or
recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--HealthcareSectorRiskMember_zeFSOWPnXGI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Healthcare
Sector Risk<i>.</i></b> The healthcare sector may be affected by government regulations and government healthcare programs, increases
or decreases in the cost of medical products and services and product liability claims, among other factors. Many healthcare companies
are heavily dependent on patent protection, and the expiration of a company’s patent may adversely affect that company’s
profitability. Healthcare companies are subject to competitive forces that may result in price discounting, and may be thinly capitalized
and susceptible to product obsolescence.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_zpvpGUS51ym8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Industrials
Sector Risk<i>.</i></b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and
demand related to their specific products or services and industrials sector products in general. The products of manufacturing companies
may face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p id="xdx_A91_zc0NRWMMKZgc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--InformationTechnologySectorRiskMember_zlyFI6pIJHyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Information
Technology Sector Risk.</b> Information technology companies face intense competition, both domestically and internationally, which may
have an adverse effect on profit margins. Information technology companies may have limited product lines, markets, financial resources
or personnel. The products of information technology companies may face obsolescence due to rapid technological developments and frequent
new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in
the information technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights
may adversely affect the profitability of these companies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zLIPXCGW5p01" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zWPYlzD8puo4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zq9KbBGaJUli" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zM3ZemBP0of9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_zzIzWszaEPhf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk. </b>Like all quantitative analysis, the investment models utilized by the Advisor carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons including errors, omissions,
imperfections or malfunctions. Because the use of models is usually constructed based on data supplied by third parties, the success
of the Advisor’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSectorRiskMember_z3sySNIDtjMb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate Sector Risk. </b>The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic
and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zBF0uh5PFUI9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk. </b>If the Fund focuses its investments within a particular Sector, it is subject to increased risk. Performance will generally
depend on the performance of the Sector, which may differ in direction and degree from that of the overall U.S. stock markets. In addition,
financial, economic, business and political developments affecting the Sector may have a greater effect on the Fund than they would if
the Fund did not focus on that Sector.</span></p><p id="xdx_A9B_z4S5kHYwi3zf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_z7OOvDzGBi83" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zsPUQzzXl085" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government- sponsored
instrumentalities or enterprises.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--UtilitiesSectorRiskMember_zHjNNIJDZyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Utilities
Sector Risk. </b>Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations,
including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in
periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated
with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition;
and potential losses resulting from a developing deregulatory environment.</span></p><p id="xdx_A90_znQK9Jljz5La" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Funds’
Principal Investment Strategies and Related Risks.”</span></p>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveTradingRiskMember_zkEnJffg1fi3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active
Trading Risk. </b>The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance)
and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Under certain market
conditions, the Fund’s turnover may be very high and considerably higher than that of other funds.</span></p><div id="xdx_C05_gRBRTB-PUGIC_zJ9oQP3CvqNl"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zp4XltuMDu2a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0F_gRBRTB-PUGIC_z0DR6TTfnYhg"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--BasicMaterialsSectorRiskMember_zWU7RZKxTYg5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Basic
Materials Sector Risk.</b> Companies operating in the materials sector may be adversely affected by changes in world events, political,
environmental and economic conditions, energy conservation, environmental policies, commodity price volatility, changes in exchange rates,
imposition of import controls, increased competition, depletion of resources and labor relations.</span></p>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zQVAA5vnU0T1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk</b>. At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><div id="xdx_C00_gRBRTB-PUGIC_zcE0HZI0Rjpa"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommunicationsServicesSectorRiskMember_z1MUXmZU2edl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Communications
Services Sector Risk. </b>Companies in the communications services sector may be affected by industry competition, substantial capital
requirements, government regulations and obsolescence of communications products and services due to technological advancement. Companies
may encounter cash flow strains due to the need to commit substantial capital to developing new products and services using new technology.
Technological innovations may make certain current services obsolete.</span></p><div id="xdx_C08_gRBRTB-PUGIC_z34tTiw6cgy"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConsumerDiscretionarySectorRiskMember_zIGddJbkOa41" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consumer
Discretionary Sector Risk.</b> The success of consumer product manufacturers and retailers is tied closely to the performance of domestic
and international economies, interest rates, exchange rates, competition, consumer confidence, changes in demographics and consumer preferences.
Companies in the consumer discretionary sector depend heavily on disposable household income and consumer spending, and may be strongly
affected by social trends and marketing campaigns. These companies may be subject to severe competition, which may have an adverse impact
on their profitability.</span></p><div id="xdx_C04_gRBRTB-PUGIC_zJZHRTA2AYLf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConsumerStaplesSectorRiskMember_zJ9SXho4BBXa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consumer
Staples Sector Risk.</b> The consumer staples sector may be affected by the regulation of various product components and production methods,
marketing campaigns and other factors affecting consumer demand. Tobacco companies, in particular, may be adversely affected by new laws,
regulations and litigation. The consumer staples sector may also be adversely affected by changes or trends in commodity prices, which
may be influenced by unpredictable factors.</span></p><div id="xdx_C0D_gRBRTB-PUGIC_zX4mYbnz4Qy7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z6O5JLWA1qgf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk. </b>The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C0E_gRBRTB-PUGIC_zFzuRpGtO7F2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ZVIEHDY_zRxWwxJOKfif" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C01_gRBRTB-PUGIC_z7S6UvZUGVW5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C09_gRBRTB-PUGIC_zSYlqh3v0Pvc"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_ztsp2er5Ts92">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-PUGIC_zUmV234e7HGf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0C_gRBRTB-PUGIC_zzgwLPYTjPxg"><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zvo7xdSi9Edh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-PUGIC_zlKaTysFXvhc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C09_gRBRTB-PUGIC_zcLFyHyMmLUi"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-JEM_zX5nBduZTgk5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C0D_gRBRTB-PUGIC_zPW0nFq57RBk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-PUGIC_zC0cASzT2bMb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-PUGIC_zr64zM7J6RCd"><p id="xdx_A93_zahq46Z8XSO7" style="margin-top: 0; margin-bottom: 0"> </p></div><div id="xdx_C05_gRBRTB-PUGIC_zWX5bgsGzOS8"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C05_gRBRTB-PUGIC_zcCEVjRMnR4l"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C00_gRBRTB-PUGIC_z0pVgDBWUm0e"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C0E_gRBRTB-PUGIC_zJotmyJxUZcd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-PUGIC_zFzU7VBYKSAe"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_ztsp2er5Ts92">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C0B_gRBRTB-ZVIEHDY_zexF9WTO60Ti"><div id="xdx_C06_gRBRTB-PUGIC_zUmV234e7HGf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zvo7xdSi9Edh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C05_gRBRTB-ZVIEHDY_zva35BxpwLE5"><div id="xdx_C09_gRBRTB-PUGIC_zlKaTysFXvhc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-JEM_zX5nBduZTgk5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C0B_gRBRTB-ZVIEHDY_z5gPHcncdMNg"><div id="xdx_C0D_gRBRTB-PUGIC_zPW0nFq57RBk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C04_gRBRTB-ZVIEHDY_z3gvXtzGvvRb"><div id="xdx_C08_gRBRTB-PUGIC_zC0cASzT2bMb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C0C_gRBRTB-ZVIEHDY_zMP3p3KxpTRa"><div id="xdx_C06_gRBRTB-PUGIC_zr64zM7J6RCd"><p id="xdx_A93_zahq46Z8XSO7" style="margin-top: 0; margin-bottom: 0"> </p></div></div><div id="xdx_C06_gRBRTB-ZVIEHDY_zjo0wKbuJTte"><div id="xdx_C05_gRBRTB-PUGIC_zWX5bgsGzOS8"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div><div id="xdx_C08_gRBRTB-ZVIEHDY_znDgKT5PJ2Ic"><div id="xdx_C05_gRBRTB-PUGIC_zcCEVjRMnR4l"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div><div id="xdx_C02_gRBRTB-ZVIEHDY_zw9UxjJGo2Q9"><div id="xdx_C00_gRBRTB-PUGIC_z0pVgDBWUm0e"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div><div id="xdx_C03_gRBRTB-ZVIEHDY_zFFIEaJtjHT1"><div id="xdx_C0E_gRBRTB-PUGIC_zJotmyJxUZcd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div><div id="xdx_C00_gRBRTB-ZVIEHDY_zh8ryo59nPz6"><div id="xdx_C01_gRBRTB-PUGIC_zFzU7VBYKSAe"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergySectorRiskMember_zeZ0tXDqqA88" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Energy
Sector Risk.</b> Companies operating in the energy sector may be adversely affected by changes in worldwide energy prices, exploration
and production spending. In addition, changes in government regulation, world events and political and economic conditions can affect
these companies. These companies also are at risk of civil liability from accidents resulting in injury, loss of life or property, pollution
or other environmental damage claims and risk of loss from terrorism, war and natural disasters. Commodity price volatility, changes
in exchange rates, imposition of import controls, increased competition, depletion of resources, development of alternative energy sources,
technological developments, geopolitical conflict and related economic sanctions and labor relations also could affect companies in this
sector.</span></p><div id="xdx_C0E_gRBRTB-PUGIC_zKI5cL2ug5k5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zTqpdKrg0jjb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><div id="xdx_C0E_gRBRTB-PUGIC_zqcHL0gSLgkb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zhheMdpohLgh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
Sector Risk<i>.</i></b> Performance of companies in the financial sector may be adversely impacted by many factors, including, among
others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in
credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or
recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><div id="xdx_C02_gRBRTB-PUGIC_zZNuzUKaC0S5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--HealthcareSectorRiskMember_zeFSOWPnXGI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Healthcare
Sector Risk<i>.</i></b> The healthcare sector may be affected by government regulations and government healthcare programs, increases
or decreases in the cost of medical products and services and product liability claims, among other factors. Many healthcare companies
are heavily dependent on patent protection, and the expiration of a company’s patent may adversely affect that company’s
profitability. Healthcare companies are subject to competitive forces that may result in price discounting, and may be thinly capitalized
and susceptible to product obsolescence.</span></p><div id="xdx_C0D_gRBRTB-PUGIC_zrzY0uceXuPl"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_zpvpGUS51ym8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Industrials
Sector Risk<i>.</i></b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and
demand related to their specific products or services and industrials sector products in general. The products of manufacturing companies
may face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--InformationTechnologySectorRiskMember_zlyFI6pIJHyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Information
Technology Sector Risk.</b> Information technology companies face intense competition, both domestically and internationally, which may
have an adverse effect on profit margins. Information technology companies may have limited product lines, markets, financial resources
or personnel. The products of information technology companies may face obsolescence due to rapid technological developments and frequent
new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in
the information technology sector are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights
may adversely affect the profitability of these companies.</span></p><div id="xdx_C03_gRBRTB-PUGIC_zcVK6UJBHXTa"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zLIPXCGW5p01" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C0A_gRBRTB-PUGIC_zL6fwJN4biR1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zWPYlzD8puo4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><div id="xdx_C0B_gRBRTB-PUGIC_zEBEeqOCsu9i"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zq9KbBGaJUli" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C07_gRBRTB-PUGIC_zbSA3NVkA2y9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zM3ZemBP0of9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets.</span></p><div id="xdx_C0A_gRBRTB-PUGIC_zjpiBNINBUeh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_zzIzWszaEPhf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk. </b>Like all quantitative analysis, the investment models utilized by the Advisor carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons including errors, omissions,
imperfections or malfunctions. Because the use of models is usually constructed based on data supplied by third parties, the success
of the Advisor’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><div id="xdx_C01_gRBRTB-PUGIC_zMdtpX5afK9h"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSectorRiskMember_z3sySNIDtjMb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate Sector Risk. </b>The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic
and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C03_gRBRTB-PUGIC_z5Pqmulqt1Wk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zBF0uh5PFUI9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk. </b>If the Fund focuses its investments within a particular Sector, it is subject to increased risk. Performance will generally
depend on the performance of the Sector, which may differ in direction and degree from that of the overall U.S. stock markets. In addition,
financial, economic, business and political developments affecting the Sector may have a greater effect on the Fund than they would if
the Fund did not focus on that Sector.</span></p>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_z7OOvDzGBi83" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><div id="xdx_C00_gRBRTB-PUGIC_zdQYZGXR2q3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zsPUQzzXl085" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government- sponsored
instrumentalities or enterprises.</span></p><div id="xdx_C01_gRBRTB-PUGIC_z1crRH0PxMv5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--UtilitiesSectorRiskMember_zHjNNIJDZyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Utilities
Sector Risk. </b>Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations,
including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in
periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated
with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition;
and potential losses resulting from a developing deregulatory environment.</span></p>
Performance:
<p id="xdx_A80_eoef--PerformanceNarrativeTextBlock_zmReZvjVssBc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zE5HTTvS5Oy1">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.</span> <span id="xdx_900_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_z0rXncErpIPc">How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.</span> Updated performance information is available at no cost at <span id="xdx_903_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zgdjJqVtrXxa">www.dhfunds.com</span> or by calling <span id="xdx_90A_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zuUXfyfYQhsk">1-800-594-7930</span>.</span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.
www.dhfunds.com
1-800-594-7930
Annual
Total Returns
<div id="xdx_A84_eoef--BarChartTableTextBlock_zYoKWFuyyLT2"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zvzK7G9RHTml" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 17%"> </td>
<td id="xdx_497_20210101__20211231_zNv8O076fkN5" style="text-align: center; width: 17%">2021</td>
<td id="xdx_49E_20220101__20221231_z8nJOhTmUNHg" style="text-align: center; width: 17%">2022</td>
<td id="xdx_49C_20230101__20231231_zvvf8ikn9caf" style="text-align: center; width: 17%">2023</td>
<td id="xdx_492_20240101__20241231_zFP3mW0tboZf" style="text-align: center; width: 16%">2024</td>
<td id="xdx_499_20250101__20251231_zu9YdlQVTDMc" style="text-align: center; width: 16%">2025</td></tr>
<tr id="xdx_405_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_zcjAiYzzMO66" style="vertical-align: top; text-align: center">
<td> </td>
<td>28.01%</td>
<td>-17.27%</td>
<td>17.98%</td>
<td>18.81%</td>
<td>16.57%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img alt="(BAR CHAT)" src="st002_v1.jpg"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.2801
-0.1727
0.1798
0.1881
0.1657
<p id="xdx_A8F_eoef--BarChartClosingTextBlock_zD8XlhrHTREe" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_90B_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zvv6vBINLarl">the highest return for a quarter</span> was <span id="xdx_900_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zFdv5csP5jm4">11.27%</span> (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_z5yC1iJ9PO7g">December 31, 2021</span>), and <span id="xdx_905_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zc3aRNu5BlWd">the lowest return
for a quarter</span> was <span id="xdx_900_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zzJGm47pp3D5">-12.08%</span> (quarter ended <span id="xdx_902_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zZcb6gYReanl">June 30, 2022</span>).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zYmCsv95gLnd">The
Fund’s year-to-date return</span> as of <span id="xdx_903_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zHOX6qaeyD0b">June 30, 2026</span> was <span id="xdx_905_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zmhCaGXXwErc">13.47%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
the highest return for a quarter
0.1127
2021-12-31
the lowest return
for a quarter
-0.1208
2022-06-30
The
Fund’s year-to-date return
2026-06-30
0.1347
Average
Annual Total Returns
(For
periods ended December 31, 2025)
<div id="xdx_A86_eoef--PerformanceTableTextBlock_zsYIjDKYTWmj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_z9mFcl0A82lh" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 44%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_499_20250101__20251231_zPri6yvVKnO9" style="border-top: black 1pt solid; padding: 1pt 5pt; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1
Year</b></span></td>
<td id="xdx_492_20210101__20251231_zMEZ8MqMZ0P2" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5
Years</b></span></td>
<td id="xdx_499_20200116__20251231_z0o6uH3klBS2" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception <br/>
(<span id="xdx_902_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_zTDcMoGQwwtk">January 16, 2020</span>)</b></span></td></tr>
<tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_zNaoA3cy5uV2" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member_z51DbzGaPcu2">Return
Before Taxes</span></span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.57%
</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.59%
</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.72%
</span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zTuvvKUREuCd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.33%
</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.38%
</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.52%
</span></td></tr>
<tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066772Member__oef--ClassAxis__custom--C000215105Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z6ubMebmkhDe" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.81%
</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.19%
</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.24%
</span></td></tr>
<tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066772Member__oef--PerformanceMeasureAxis__custom--SAndP500IndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zWy4wFy2Kgkl" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>S&P
500 Index (<span id="xdx_904_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_z6rewx4kHIMg">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.88%
</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.42%
</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.67%
</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p>
2020-01-16
Return
Before Taxes
0.1657
0.1159
0.1272
0.1633
0.1138
0.1252
0.0981
0.0919
0.1024
reflects no deduction for fees, expenses or taxes
0.1788
0.1442
0.1467
<p id="xdx_A87_eoef--PerformanceTableClosingTextBlock_zOpsm764erQ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eoef--PerformanceTableUsesHighestFederalRate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zfo3LUnUM5se">After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.</span> <span id="xdx_909_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260827__20260827__dei--LegalEntityAxis__custom--S000066772Member_zvj8FM21vzS6">Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.</span></span></p>
After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.
FUND
SUMMARY – DAY HAGAN SMART SECTOR FIXED INCOME ETF
Investment
Objective:
<p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_zfCdY3VtK9wg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The Fund’s investment objective is total return, consisting of income and capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A8E_eoef--ExpenseNarrativeTextBlock_zUD1gygz743l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8A_eoef--ShareholderFeesTableTextBlock_zA74b4GNC9Tl"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zUHV5bSp1Huj" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 6.8pt"></td>
<td id="xdx_494_20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_zgzZL4rwGnbj" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; vertical-align: bottom; padding-left: 5pt; text-align: center"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_zyCgXK3gaTTf" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 80%; padding-left: 6.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 20%; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_zCxgVVQ0lpM8"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_z6AUYVKaEgyf" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_494_20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_zeUliZV0IaV1" style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"> </td></tr>
<tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_z2xercU6x989" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; width: 80%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee<sup id="xdx_F42_zjHF7U3uAgN3">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.68%</span></td></tr>
<tr id="xdx_40F_eoef--DistributionAndService12b1FeesOverAssets_dpn_z0Bbyfi81xL5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40F_eoef--OtherExpensesOverAssets_dpn_zc4W9I9CogS2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses<sup id="xdx_F46_zzq0uLA8tNB">(1)(2)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_404_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zu14j8kE5pYj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F48_zETGqnMjJihc">(2)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.07%</span></td></tr>
<tr id="xdx_401_eoef--ExpensesOverAssets_dpn_zr0BpdsRayR1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Operating Expenses<sup id="xdx_F47_zfVuxzCTfqce">(2)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.75%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F01_zkCVN83xhHke" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="text-align: justify"><span id="xdx_F1A_ziDGkuBFds17" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
management fee is structured as a “unified fee,” out of which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F09_zJ3DRVR6wvNb" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2)</span></td><td style="text-align: justify"><span id="xdx_F18_zJ2x7pkWTrUa" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies. <span id="xdx_902_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zVwife7azBy3">The Total Annual Fund Operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0068
0.0000
0.0000
0.0007
0.0075
The Total Annual Fund Operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
Example:
<p id="xdx_A86_eoef--ExpenseExampleNarrativeTextBlock_z0VV0AvW3XH" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A8A_eoef--ExpenseExampleWithRedemptionTableTextBlock_zEU4tS0gn3Ff"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A53_dU_zJnDpPCjBcbe" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_489_eoef--ExpenseExampleYear01_zRBAZxs3Dfx6" style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_482_eoef--ExpenseExampleYear03_z0Xoje3VsP8c" style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_485_eoef--ExpenseExampleYear05_zXX84s7Ufc4j" style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_48A_eoef--ExpenseExampleYear10_zQiXWPW3mrA" style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_410_20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_z8AmmfFYYuld" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$77</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$240</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$417</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$930</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
77
240
417
930
Portfolio
Turnover:
<p id="xdx_A8B_eoef--PortfolioTurnoverTextBlock_zdrpxSkZahj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>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 fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_900_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zvfUVOUwCBs3">59%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.59
Principal
Investment Strategy
<p id="xdx_A80_eoef--StrategyNarrativeTextBlock_zc8ZB20m5lxc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s investment advisor, Day Hagan Asset Management (the “Advisor”), actively manages the Fund’s portfolio
using proprietary investment models. The Fund is considered a “fund of funds” that, under normal market conditions, seeks
to achieve its investment objective by principally investing in unaffiliated fixed income exchange traded funds that invest in fixed
income categories (“Underlying Funds”). The fixed income categories to which the Fund may seek exposure through the Underlying
Funds are U.S. investment grade corporate bonds, U.S. long-term treasury securities, U.S. mortgage-backed securities, international investment
grade bonds, U.S. treasury inflation-protected securities, U.S. high yield bonds, emerging market bonds, and U.S. floating rate notes
(each, a “Category”, and, collectively, the “Categories”). The Fund will attempt to enhance returns relative
to the Bloomberg US Aggregate Bond Index by overweighting and underweighting its exposure to the Categories and may reduce its overall
exposure to certain ETFs as determined by its risk management model.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
normal market conditions, the Fund will invest, indirectly through the Underlying Funds, at least 80% of its net assets, plus the amount
of any borrowings for investment purposes, in fixed income securities and other instruments that have economic characteristics similar
to such securities. The Fund may invest in Underlying Funds without any constraints as to the duration (i.e., the sensitivity of a fixed
income security’s price to interest rate changes), maturity and country of domicile (including emerging market countries) of the
securities held by the Underlying Funds. Certain of the Underlying Funds may hold, without limit, debt securities of any credit quality
including below investment grade debt securities (also known as “junk” bonds) and may invest in debt securities that are
in default.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund utilizes a model to determine its allocation to each Category. The model combines unique macroeconomic and technical indicators
that are designed to (i) evaluate the relative attractiveness of Underlying Funds across Categories; (ii) reallocate assets from Categories
with unfavorable characteristics to areas providing the greatest opportunities; and (iii) protect capital by lowering duration and reducing
credit risk during weak economic environments. The indicators for each Category focus on risk/reward characteristics of each Category
with the goal of investing in the areas that have the highest probability of maximizing total return. By combining multiple and diverse
indicators, which historically have been shown to add value in Category allocation decisions, the model seeks to objectively assess the
weight of the evidence and generate Category allocation recommendations. The Fund’s allocation to a particular Category may be
greater than 25%. Conversely, the Fund’s allocation to a particular Category may be reduced to 0% if the Category’s model
composite is at low levels.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund also utilizes a risk model to identify potential broader equity market risks that could negatively impact certain fixed income Categories.
Should the model generate a sell signal for equities, the Fund may reduce exposure to fixed income Categories that have historically
evidenced a positive correlation with equities. Categories that have historically had positive correlations with U.S. equities are U.S.
floating rate notes, U.S. investment grade corporate bonds, U.S. high yield bonds, and emerging market bonds. During times when the model
is on a sell signal, portions of the Fund’s allocations to these Categories will be allocated to cash and cash equivalents, including
short term U.S. Treasury ETFs, U.S. Treasury securities, and money market funds. The Fund will increase its fixed income investments
when the model returns to levels indicating that major risks have potentially subsided.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s portfolio is rebalanced monthly, although the Advisor may engage in intra-month trades if the models show substantial
changes. The Fund actively trades its portfolio securities in an attempt to achieve its investment objective; trading activity may
also be increased in periods of high market volatility.</span></p>
<p id="xdx_A80_eoef--RiskTextBlock_gRBRTB-AAR_zDgUz0Btq4Mf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s NAV, market
price and returns will vary and you could lose money on your investment in the Fund and those losses could be
significant.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment. These risks affect the Fund directly as well as through the ETFs in which it invests.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zxb6k5TAT34d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p id="xdx_A93_zt5FeH0EAO53" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_z527z6CI0FZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk</b>. The Fund may have significant investments in cash or cash equivalents. When a substantial portion of a
portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not keep
pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents may
adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_zknsNw7hstY3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> Interest rate increases could cause the value of any fund that invests in fixed income securities
to decrease to the extent that it invests in fixed income securities. Federal Reserve policy changes may expose fixed-income and related
markets to heightened volatility and may reduce liquidity for certain Underlying Fund investments, which could cause the value of the
Underlying Fund’s investments and share price to decline.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskMember_zcPJhSv5GY5f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk</b>. Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the
Fund’s total return. There is a risk that issuers will not make payments on fixed income securities held by the Fund, resulting
in losses to the Fund. In addition, the credit quality of fixed income securities held by the Fund may be lowered if an issuer’s
financial condition changes. The issuer of a fixed income security may also default on its obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskForFloatingRateLoansMember_zoD7oKJakvH" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk (for Floating Rate Loans).</b> Credit risk is the risk that the issuer of a security and other instruments will not be able to make
principal and interest payments when due. The value of the Fund’s shares, and the Fund’s ability to pay dividends, is dependent
upon the performance of the assets in its portfolio. Prices of the Fund’s investments can fall if the actual or perceived financial
health of the borrowers on, or issuers of, such investments deteriorates, whether because of broad economic or issuer-specific reasons.
In severe cases, the borrower or issuer could be late in paying interest or principal, or could fail to pay altogether.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zYlBqAPgqgE8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duration
Risk. </b>Longer-term securities may be more sensitive to interest rate changes, particularly in periods of rising interest rates. Effective
duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may tend to understate
the drop in a security’s price. If rates drop significantly, effective duration may tend to overstate the rise in a security’s
price. Duration should not be confused with maturity. The maturity of a fixed income security is a measure of the amount of time left
until the security “matures” or repays its face value. In contrast, duration measures the price sensitivity of a fixed income
security to changes in interest rates rather than the amount of time remaining to maturity. Longer duration tends to result in greater
volatility and a greater sensitivity to interest rate changes. For example, a five-year duration means that the fixed income security
will decrease in value by 5% if interest rates rise 1% and increase in value by 5% if interest rates fall 1%.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketRiskMember_z8IhT0gyYLs6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Market Risk. </b>Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and
more likely to default. Emerging market securities also tend to be less liquid and the prices of such securities tend to be more volatile
than the securities of issuers located in developed markets.</span></p><p id="xdx_A98_z8QVtoA39u47" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> </p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-WMQYAB_zSOISP9SxCUd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zppuhBIqrPFg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z0AKLGSUDBfe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the NYSE Arca, Inc. (the “Exchange”) may be halted due to market conditions or for reasons
that, in the view of the Exchange, make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance
that shares will continue to meet the listing requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized settlement system, the number of financial
institutions that can act as authorized participants that can post collateral on an agency basis is limited, which may limit the market
for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zJ6hbjcnKI98">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ExtensionRiskMember_zZMFQMwb9p31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Extension
Risk. </b>When interest rates rise, anticipated prepayments may occur at a slower-than expected rate, thus effectively extending the
maturity of mortgage-backed securities. Prices of longer-term securities generally fluctuate more widely in response to changes in interest
rates than prices of shorter-term securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zULoJwtI4P7j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><p id="xdx_A9A_zp5mcRZphpFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeSecuritiesRiskMember_zkSjHOYqdiNb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed
Income Securities Risk. </b>The value of fixed income securities will fluctuate with changes in interest rates. Typically, a rise in
interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income
securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities.
Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal
on a fixed rate obligation held by the Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing
the amount of interest payments). These risks could affect the value of a particular investment by the Fund, possibly causing the Fund’s
share price and total return to be reduced and fluctuate more than other types of investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FloatingRateLoansRiskMember_zu3sb36H89wg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Floating
Rate Loans Risk. </b>A Fund may invest in floating rate loans that are senior in the capital structure of the borrower or issuer, and
that are secured with specific collateral. Loans that are senior and secured generally involve less risk than unsecured or subordinated
debt and equity instruments of the same borrower because the payment of principal and interest on senior loans is an obligation of the
borrower that, in most instances, takes precedence over the payment of dividends or the return of capital to the borrower’s shareholders,
and payments to bond holders; and because of the collateral supporting the repayment of the debt instrument. However, the value of the
collateral may not equal a Fund’s investment when the debt instrument is acquired or may decline below the principal amount of
the debt instrument subsequent to the Fund’s investment. Also, to the extent that collateral consists of stocks of the borrower,
or its subsidiaries or affiliates, a Fund bears the risk that the stocks may decline in value, be relatively illiquid, or may lose all
or substantially all of their value, causing the Fund’s investment to be under-collateralized. Therefore, the liquidation of the
collateral underlying a floating rate loan in which a Fund has invested, may not satisfy the borrower’s obligation to the Fund
in the event of non-payment of scheduled interest or principal, and the collateral may not be able to be readily liquidated.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event of the bankruptcy of a borrower or issuer, a Fund could experience delays and limitations on its ability to realize the benefits
of the collateral securing the Fund’s investment. Among the risks involved in a bankruptcy are assertions that the pledge of collateral
to secure a loan constitutes a fraudulent conveyance or preferential transfer that would have the effect of nullifying or subordinating
a Fund’s rights to the collateral.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Floating
rate loans are also subject to interest rate risk arising from changes in short-term market interest rates. If short-term market interest
rates fall, the yield on a Fund’s shares will also fall. Conversely, when short-term market interest rates rise, because of the
lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in a Fund’s portfolio,
the impact of rising rates will be delayed to the extent of such lag. The impact of market interest rate changes on a Fund’s yield
will also be affected by whether, and the extent to which, the floating rate debt in the Fund’s portfolio is subject to floors
on the base rate on which interest is calculated for such loans. So long as the base rate for a loan remains under the floor, changes
in short-term interest rates will not affect the yield on such loans. In addition, to the extent that the interest rate spreads on floating
rate debt in a Fund’s portfolio experience a general decline, the yield on the Fund’s shares will fall and the value of the
Fund’s assets may decrease, which will cause the Fund’s NAV to decrease.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
floating rate debt in which a Fund invests may be generally rated lower than investment-grade credit quality, i.e., rated lower than
“Baa3” by Moody’s Ratings (“Moody’s”) or “BBB-” by S&P Global Ratings (“S&P”),
or have been made to borrowers who have issued debt securities that are rated lower than investment- grade in quality or, if unrated,
would be rated lower than investment-grade credit quality. Investment decisions for a Fund will be based largely on the credit analysis
performed by the Advisor, and not entirely on rating agency evaluation. This analysis may be difficult to perform. Information about
a loan and its borrower generally is not in the public domain. Many borrowers have not issued securities to the public and are not subject
to reporting requirements under federal securities laws. Generally, however, borrowers are required to provide financial information
to lenders and information may be available from other loan market participants or agents that originate or administer loans. Certain
bank loans may not be considered “securities,” and purchasers, such as an Underlying Fund, therefore may not be entitled
to rely on the protections of federal securities laws, including antifraud provisions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zh73qv6267Sl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk. </b>Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers maybe less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). All of the risks of investing in foreign securities are typically increased by investing in
emerging market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by
substantial currency conversion costs.</span></p><p id="xdx_A9D_zUdmTuvBVOg5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--IncomeRiskMember_zyRYGfeW5Tg8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income
Risk. </b>The Fund’s distributions to shareholders may decline when prevailing interest rates fall, when the Fund experiences defaults
on debt securities it holds, or when the Fund realizes losses.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--InflationProtectedSecuritiesRiskMember_zmGQj2pRRmBc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inflation
Protected Securities Risk. </b>Inflation-protected debt securities tend to react to changes in real interest rates. Real interest rates
represent nominal (stated) interest rates reduced by the expected impact of inflation. In general, the price of an inflation-protected
debt security can fall when real interest rates rise, and can rise when real interest rates fall. Interest payments on inflation-protected
debt securities can be unpredictable and will vary as the principal and/or interest is adjusted for inflation.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zTp3XyWuIdK3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk</b>. Interest rate risk is the risk that prices of fixed income securities overall, including the prices of securities held
by the Fund, will decline over short or long periods of time due to rising interest rates. Fixed income securities with longer maturities
tend to be more sensitive to interest rates than fixed income securities with shorter maturities. The maturity and effective duration
of the Fund’s investment portfolio may vary materially, from time to time, and there is no assurance that the Fund will achieve
or maintain any particular target maturity or effective duration of its investment portfolio.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zC767Cl32Nt" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondRiskMember_zj2aJYzFAF7g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Junk
Bond Risk</b>. Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of
higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect
the market for these bonds and reduce the Underlying Fund’s ability to sell such bonds. The lack of a liquid market for these bonds
could decrease the Fund’s share price.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_z06sb06PXAO5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zyCmMzovdYd1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageBackedSecuritiesRiskMember_gRBRTB-ECXZ_zbcBgaL1ZSNg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mortgage-Backed
Securities Risk. </b>Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which
mortgage loans are guaranteed by the U.S. government, its agencies or instrumentalities. These guarantees are made at the “loan
level” and relate only to the payment of principal and interest on the underlying mortgage loans. These loan level governmental
guarantees do not cover the payment of principal and interest on, or fluctuations in the market values of, the related mortgage-backed
securities, and do not apply to investors’ purchase of shares of the Fund.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage-backed
securities issued or guaranteed by governmental agencies or instrumentalities such as Ginnie Mae, or government-sponsored entities such
as Fannie Mae and Freddie Mac, are generally known as “agency mortgage-backed securities.” Agency mortgage-backed securities
are backed by mortgage loans that satisfy the underwriting and other criteria published by the applicable governmental entity. The payment
of interest and principal on these mortgage-backed securities is generally guaranteed by the applicable governmental entity.</span></p><p id="xdx_A94_zh7unQmRryS7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage-backed
securities issued by private issuers are also known as “non-agency” mortgage-backed securities. Non-agency mortgage-backed
securities are not subject to the same stringent underwriting requirements as agency mortgage-backed securities and, therefore, the mortgage
loans underlying privately issued mortgage-backed securities may have less favorable collateral, credit risk or other underwriting characteristics,
and wider variances in interest rate, term, size, purpose and borrower characteristics. The market for non-agency mortgage-backed securities
is smaller and less liquid than the market for agency mortgage-backed securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage-backed
securities do not have a fixed maturity and their expected maturities may vary as interest rates rise or fall. An increased rate of prepayments
on the Fund’s mortgage-backed securities will result in an unforeseen loss of interest income to the Fund as the Fund may be required
to reinvest assets at a lower interest rate. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security.
The prices of mortgage-backed securities may decrease more than prices of other fixed-income securities when interest rates rise. The
liquidity of mortgage-backed securities may change over time.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_zRPiPdHX35te" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk. </b>Like all quantitative analysis, the investment models utilized by the Advisor carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons including errors, omissions,
imperfections or malfunctions. Because the use of models are usually constructed based on data supplied by third parties, the success
of the Advisor’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--PrepaymentRiskMember_z0tqsSdfUmtb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Prepayment
Risk. </b>The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal
prior to a security’s maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower
interest rates, resulting in a decline in the Fund’s income.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSectorRiskMember_zvMH8kq02LR7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate Sector Risk</b>. The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic
and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zmvDZ1f8R3I4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk. </b>If the Fund focuses its investments within a particular Sector, it is subject to increased risk. Performance will generally
depend on the performance of the Sector, which may differ in direction and degree from that of the overall U.S. stock markets. In addition,
financial, economic, business and political developments affecting the Sector may have a greater effect on the Fund than they would if
the Fund did not focus on that Sector.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zsd9cJmJVuRf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zrj4ODFVdQT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government- sponsored
instrumentalities or enterprises.</span></p><p id="xdx_A9D_zHGEcp4V9I46" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Funds’
Principal Investment Strategies and Related Risks.”</span></p>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zxb6k5TAT34d" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_z527z6CI0FZ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk</b>. The Fund may have significant investments in cash or cash equivalents. When a substantial portion of a
portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not keep
pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents may
adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><div id="xdx_C03_gRBRTB-AAR_zOaxqN4RKnff"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_zknsNw7hstY3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> Interest rate increases could cause the value of any fund that invests in fixed income securities
to decrease to the extent that it invests in fixed income securities. Federal Reserve policy changes may expose fixed-income and related
markets to heightened volatility and may reduce liquidity for certain Underlying Fund investments, which could cause the value of the
Underlying Fund’s investments and share price to decline.</span></p><div id="xdx_C0A_gRBRTB-AAR_zWrozItk4u9a"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskMember_zcPJhSv5GY5f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk</b>. Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the
Fund’s total return. There is a risk that issuers will not make payments on fixed income securities held by the Fund, resulting
in losses to the Fund. In addition, the credit quality of fixed income securities held by the Fund may be lowered if an issuer’s
financial condition changes. The issuer of a fixed income security may also default on its obligations.</span></p><div id="xdx_C0E_gRBRTB-AAR_zr0g2sqAdISl"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskForFloatingRateLoansMember_zoD7oKJakvH" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk (for Floating Rate Loans).</b> Credit risk is the risk that the issuer of a security and other instruments will not be able to make
principal and interest payments when due. The value of the Fund’s shares, and the Fund’s ability to pay dividends, is dependent
upon the performance of the assets in its portfolio. Prices of the Fund’s investments can fall if the actual or perceived financial
health of the borrowers on, or issuers of, such investments deteriorates, whether because of broad economic or issuer-specific reasons.
In severe cases, the borrower or issuer could be late in paying interest or principal, or could fail to pay altogether.</span></p><div id="xdx_C01_gRBRTB-AAR_zRjGdHv3sPcc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zYlBqAPgqgE8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duration
Risk. </b>Longer-term securities may be more sensitive to interest rate changes, particularly in periods of rising interest rates. Effective
duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may tend to understate
the drop in a security’s price. If rates drop significantly, effective duration may tend to overstate the rise in a security’s
price. Duration should not be confused with maturity. The maturity of a fixed income security is a measure of the amount of time left
until the security “matures” or repays its face value. In contrast, duration measures the price sensitivity of a fixed income
security to changes in interest rates rather than the amount of time remaining to maturity. Longer duration tends to result in greater
volatility and a greater sensitivity to interest rate changes. For example, a five-year duration means that the fixed income security
will decrease in value by 5% if interest rates rise 1% and increase in value by 5% if interest rates fall 1%.</span></p><div id="xdx_C0E_gRBRTB-AAR_zQe20lCofiph"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketRiskMember_z8IhT0gyYLs6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Market Risk. </b>Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and
more likely to default. Emerging market securities also tend to be less liquid and the prices of such securities tend to be more volatile
than the securities of issuers located in developed markets.</span></p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-WMQYAB_zSOISP9SxCUd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C03_gRBRTB-AAR_zleVv2hb5Y7c"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C01_gRBRTB-AAR_zunaLqLwCXr6"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zppuhBIqrPFg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C0D_gRBRTB-AAR_z45gy0OsMJj8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C07_gRBRTB-AAR_zXIHTyG7jcu5"><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z0AKLGSUDBfe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the NYSE Arca, Inc. (the “Exchange”) may be halted due to market conditions or for reasons
that, in the view of the Exchange, make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance
that shares will continue to meet the listing requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized settlement system, the number of financial
institutions that can act as authorized participants that can post collateral on an agency basis is limited, which may limit the market
for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-AAR_zPFd6MQUOkD1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-AAR_zbRVYNvG1zg5"><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zJ6hbjcnKI98">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C08_gRBRTB-AAR_z5298ZZkn2t3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C03_gRBRTB-AAR_zTsvt4nnzd0g"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C0A_gRBRTB-AAR_zjvkPEydAfza"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C05_gRBRTB-AAR_zKque61aSj5h"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-AAR_ztEMKLoluaf5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C02_gRBRTB-AAR_zOizQ9N4mQH7"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C02_gRBRTB-AAR_zjYJMTJlpBc5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C07_gRBRTB-AAR_zFR0saiRjZEe"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zppuhBIqrPFg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C05_gRBRTB-WMQYAB_zEq4F3x0x8zi"><div id="xdx_C0D_gRBRTB-AAR_z45gy0OsMJj8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z0AKLGSUDBfe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the NYSE Arca, Inc. (the “Exchange”) may be halted due to market conditions or for reasons
that, in the view of the Exchange, make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance
that shares will continue to meet the listing requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized settlement system, the number of financial
institutions that can act as authorized participants that can post collateral on an agency basis is limited, which may limit the market
for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-WMQYAB_zcGj1w9J6841"><div id="xdx_C09_gRBRTB-AAR_zPFd6MQUOkD1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zJ6hbjcnKI98">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-WMQYAB_zJbJ4fqk4fU8"><div id="xdx_C08_gRBRTB-AAR_z5298ZZkn2t3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C05_gRBRTB-WMQYAB_zwrYV96DFRx2"><div id="xdx_C03_gRBRTB-AAR_zTsvt4nnzd0g"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C06_gRBRTB-WMQYAB_zG0KExt5EOI1"><div id="xdx_C0A_gRBRTB-AAR_zjvkPEydAfza"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C08_gRBRTB-WMQYAB_zv4HKGDwAy4l"><div id="xdx_C05_gRBRTB-AAR_zKque61aSj5h"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C02_gRBRTB-WMQYAB_zkFkaJYlV1i6"><div id="xdx_C09_gRBRTB-AAR_ztEMKLoluaf5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0B_gRBRTB-WMQYAB_z1y4cPBFI2Kd"><div id="xdx_C02_gRBRTB-AAR_zOizQ9N4mQH7"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C02_gRBRTB-WMQYAB_zI9fKnEX2Jmi"><div id="xdx_C02_gRBRTB-AAR_zjYJMTJlpBc5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C08_gRBRTB-WMQYAB_zyP0yoQrFrqc"><div id="xdx_C07_gRBRTB-AAR_zFR0saiRjZEe"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C06_gRBRTB-AAR_zGURXUSQQmKb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ExtensionRiskMember_zZMFQMwb9p31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Extension
Risk. </b>When interest rates rise, anticipated prepayments may occur at a slower-than expected rate, thus effectively extending the
maturity of mortgage-backed securities. Prices of longer-term securities generally fluctuate more widely in response to changes in interest
rates than prices of shorter-term securities.</span></p><div id="xdx_C00_gRBRTB-AAR_zkTDoYgl6G0a"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zULoJwtI4P7j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeSecuritiesRiskMember_zkSjHOYqdiNb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed
Income Securities Risk. </b>The value of fixed income securities will fluctuate with changes in interest rates. Typically, a rise in
interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income
securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities.
Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal
on a fixed rate obligation held by the Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing
the amount of interest payments). These risks could affect the value of a particular investment by the Fund, possibly causing the Fund’s
share price and total return to be reduced and fluctuate more than other types of investments.</span></p><div id="xdx_C03_gRBRTB-AAR_zzqep2I4g785"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FloatingRateLoansRiskMember_zu3sb36H89wg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Floating
Rate Loans Risk. </b>A Fund may invest in floating rate loans that are senior in the capital structure of the borrower or issuer, and
that are secured with specific collateral. Loans that are senior and secured generally involve less risk than unsecured or subordinated
debt and equity instruments of the same borrower because the payment of principal and interest on senior loans is an obligation of the
borrower that, in most instances, takes precedence over the payment of dividends or the return of capital to the borrower’s shareholders,
and payments to bond holders; and because of the collateral supporting the repayment of the debt instrument. However, the value of the
collateral may not equal a Fund’s investment when the debt instrument is acquired or may decline below the principal amount of
the debt instrument subsequent to the Fund’s investment. Also, to the extent that collateral consists of stocks of the borrower,
or its subsidiaries or affiliates, a Fund bears the risk that the stocks may decline in value, be relatively illiquid, or may lose all
or substantially all of their value, causing the Fund’s investment to be under-collateralized. Therefore, the liquidation of the
collateral underlying a floating rate loan in which a Fund has invested, may not satisfy the borrower’s obligation to the Fund
in the event of non-payment of scheduled interest or principal, and the collateral may not be able to be readily liquidated.</span></p><div id="xdx_C0E_gRBRTB-AAR_zjXQsP5vEFt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C06_gRBRTB-AAR_zBSENLxhXc7d"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event of the bankruptcy of a borrower or issuer, a Fund could experience delays and limitations on its ability to realize the benefits
of the collateral securing the Fund’s investment. Among the risks involved in a bankruptcy are assertions that the pledge of collateral
to secure a loan constitutes a fraudulent conveyance or preferential transfer that would have the effect of nullifying or subordinating
a Fund’s rights to the collateral.</span></p></div>
<div id="xdx_C0D_gRBRTB-AAR_zsI6tvxYW1Qg"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C06_gRBRTB-AAR_zgSOHUracGMe"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Floating
rate loans are also subject to interest rate risk arising from changes in short-term market interest rates. If short-term market interest
rates fall, the yield on a Fund’s shares will also fall. Conversely, when short-term market interest rates rise, because of the
lag between changes in such short-term rates and the resetting of the floating rates on the floating rate debt in a Fund’s portfolio,
the impact of rising rates will be delayed to the extent of such lag. The impact of market interest rate changes on a Fund’s yield
will also be affected by whether, and the extent to which, the floating rate debt in the Fund’s portfolio is subject to floors
on the base rate on which interest is calculated for such loans. So long as the base rate for a loan remains under the floor, changes
in short-term interest rates will not affect the yield on such loans. In addition, to the extent that the interest rate spreads on floating
rate debt in a Fund’s portfolio experience a general decline, the yield on the Fund’s shares will fall and the value of the
Fund’s assets may decrease, which will cause the Fund’s NAV to decrease.</span></p></div>
<div id="xdx_C02_gRBRTB-AAR_zr8bqbU7Mn42"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0D_gRBRTB-AAR_zHQVwiSXBqN5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
floating rate debt in which a Fund invests may be generally rated lower than investment-grade credit quality, i.e., rated lower than
“Baa3” by Moody’s Ratings (“Moody’s”) or “BBB-” by S&P Global Ratings (“S&P”),
or have been made to borrowers who have issued debt securities that are rated lower than investment- grade in quality or, if unrated,
would be rated lower than investment-grade credit quality. Investment decisions for a Fund will be based largely on the credit analysis
performed by the Advisor, and not entirely on rating agency evaluation. This analysis may be difficult to perform. Information about
a loan and its borrower generally is not in the public domain. Many borrowers have not issued securities to the public and are not subject
to reporting requirements under federal securities laws. Generally, however, borrowers are required to provide financial information
to lenders and information may be available from other loan market participants or agents that originate or administer loans. Certain
bank loans may not be considered “securities,” and purchasers, such as an Underlying Fund, therefore may not be entitled
to rely on the protections of federal securities laws, including antifraud provisions.</span></p></div>
<div id="xdx_C00_gRBRTB-AAR_zR3nDl0yKBTa"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zh73qv6267Sl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk. </b>Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers maybe less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). All of the risks of investing in foreign securities are typically increased by investing in
emerging market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by
substantial currency conversion costs.</span></p>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--IncomeRiskMember_zyRYGfeW5Tg8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income
Risk. </b>The Fund’s distributions to shareholders may decline when prevailing interest rates fall, when the Fund experiences defaults
on debt securities it holds, or when the Fund realizes losses.</span></p><div id="xdx_C0B_gRBRTB-AAR_zFCVW4hhrdS"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--InflationProtectedSecuritiesRiskMember_zmGQj2pRRmBc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Inflation
Protected Securities Risk. </b>Inflation-protected debt securities tend to react to changes in real interest rates. Real interest rates
represent nominal (stated) interest rates reduced by the expected impact of inflation. In general, the price of an inflation-protected
debt security can fall when real interest rates rise, and can rise when real interest rates fall. Interest payments on inflation-protected
debt securities can be unpredictable and will vary as the principal and/or interest is adjusted for inflation.</span></p><div id="xdx_C0B_gRBRTB-AAR_zHljojdhBOs3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zTp3XyWuIdK3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk</b>. Interest rate risk is the risk that prices of fixed income securities overall, including the prices of securities held
by the Fund, will decline over short or long periods of time due to rising interest rates. Fixed income securities with longer maturities
tend to be more sensitive to interest rates than fixed income securities with shorter maturities. The maturity and effective duration
of the Fund’s investment portfolio may vary materially, from time to time, and there is no assurance that the Fund will achieve
or maintain any particular target maturity or effective duration of its investment portfolio.</span></p><div id="xdx_C08_gRBRTB-AAR_z35MUTISSjO8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zC767Cl32Nt" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C07_gRBRTB-AAR_zdvnEPXtjmak"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondRiskMember_zj2aJYzFAF7g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Junk
Bond Risk</b>. Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of
higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect
the market for these bonds and reduce the Underlying Fund’s ability to sell such bonds. The lack of a liquid market for these bonds
could decrease the Fund’s share price.</span></p><div id="xdx_C0C_gRBRTB-AAR_zTXwNpzCsF4a"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_z06sb06PXAO5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C0D_gRBRTB-AAR_zYRHhCJ1Fbhi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zyCmMzovdYd1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets. </span></p><div id="xdx_C00_gRBRTB-AAR_zqeR2nO3oIh5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgageBackedSecuritiesRiskMember_gRBRTB-ECXZ_zbcBgaL1ZSNg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mortgage-Backed
Securities Risk. </b>Mortgage-backed securities represent participating interests in pools of residential mortgage loans, some of which
mortgage loans are guaranteed by the U.S. government, its agencies or instrumentalities. These guarantees are made at the “loan
level” and relate only to the payment of principal and interest on the underlying mortgage loans. These loan level governmental
guarantees do not cover the payment of principal and interest on, or fluctuations in the market values of, the related mortgage-backed
securities, and do not apply to investors’ purchase of shares of the Fund.</span></p><div id="xdx_C0F_gRBRTB-AAR_zxEuXKW58oG2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C09_gRBRTB-AAR_zuhnRYxynYX6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage-backed
securities issued or guaranteed by governmental agencies or instrumentalities such as Ginnie Mae, or government-sponsored entities such
as Fannie Mae and Freddie Mac, are generally known as “agency mortgage-backed securities.” Agency mortgage-backed securities
are backed by mortgage loans that satisfy the underwriting and other criteria published by the applicable governmental entity. The payment
of interest and principal on these mortgage-backed securities is generally guaranteed by the applicable governmental entity.</span></p></div>
<div id="xdx_C07_gRBRTB-AAR_zue0D82JQnva"><p id="xdx_A94_zh7unQmRryS7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p></div><div id="xdx_C05_gRBRTB-AAR_z6EIkpkPAQY7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage-backed
securities issued by private issuers are also known as “non-agency” mortgage-backed securities. Non-agency mortgage-backed
securities are not subject to the same stringent underwriting requirements as agency mortgage-backed securities and, therefore, the mortgage
loans underlying privately issued mortgage-backed securities may have less favorable collateral, credit risk or other underwriting characteristics,
and wider variances in interest rate, term, size, purpose and borrower characteristics. The market for non-agency mortgage-backed securities
is smaller and less liquid than the market for agency mortgage-backed securities.</span></p></div><div id="xdx_C04_gRBRTB-AAR_znK43guHIFV6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C05_gRBRTB-AAR_z1PjINZKh1pj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mortgage-backed
securities do not have a fixed maturity and their expected maturities may vary as interest rates rise or fall. An increased rate of prepayments
on the Fund’s mortgage-backed securities will result in an unforeseen loss of interest income to the Fund as the Fund may be required
to reinvest assets at a lower interest rate. A decreased rate of prepayments lengthens the expected maturity of a mortgage-backed security.
The prices of mortgage-backed securities may decrease more than prices of other fixed-income securities when interest rates rise. The
liquidity of mortgage-backed securities may change over time.</span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_zRPiPdHX35te" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk. </b>Like all quantitative analysis, the investment models utilized by the Advisor carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons including errors, omissions,
imperfections or malfunctions. Because the use of models are usually constructed based on data supplied by third parties, the success
of the Advisor’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><div id="xdx_C0F_gRBRTB-AAR_z2VCGVcPPiL4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--PrepaymentRiskMember_z0tqsSdfUmtb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Prepayment
Risk. </b>The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal
prior to a security’s maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower
interest rates, resulting in a decline in the Fund’s income.</span></p><div id="xdx_C06_gRBRTB-AAR_zz2X1PeaZ5x6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSectorRiskMember_zvMH8kq02LR7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate Sector Risk</b>. The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic
and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C09_gRBRTB-AAR_zOwaNz7gZSG3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zmvDZ1f8R3I4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk. </b>If the Fund focuses its investments within a particular Sector, it is subject to increased risk. Performance will generally
depend on the performance of the Sector, which may differ in direction and degree from that of the overall U.S. stock markets. In addition,
financial, economic, business and political developments affecting the Sector may have a greater effect on the Fund than they would if
the Fund did not focus on that Sector.</span></p><div id="xdx_C0B_gRBRTB-AAR_z2DijMLAs2y"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zsd9cJmJVuRf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><div id="xdx_C08_gRBRTB-AAR_zo1Z9vwuePli"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zrj4ODFVdQT7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government- sponsored
instrumentalities or enterprises.</span></p>
Performance:
<p id="xdx_A81_eoef--PerformanceNarrativeTextBlock_zRDVGAHNy1fb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zNR1qEWE23Zd">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.</span> <span id="xdx_908_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zMJod21hi2B6">How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.</span> Updated performance information is available at no cost at <span id="xdx_908_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zuRozZCWbLb1">www.dhfunds.com</span> or by calling <span id="xdx_90D_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_z3jX6AIe4lP">1-800-594-7930</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.
www.dhfunds.com
1-800-594-7930
Annual
Total Returns
<div id="xdx_A8D_eoef--BarChartTableTextBlock_ztM6I6mZW18j"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zdTvI6AuOMv1" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 20%"> </td>
<td id="xdx_491_20220101__20221231_zY5cXFuDOeAh" style="text-align: center; width: 20%">2022</td>
<td id="xdx_491_20230101__20231231_zVWtx4Nxq1Kh" style="text-align: center; width: 20%">2023</td>
<td id="xdx_496_20240101__20241231_zEPQCU9Vp10h" style="text-align: center; width: 20%">2024</td>
<td id="xdx_495_20250101__20251231_zRzN9A5AiRah" style="text-align: center; width: 20%">2025</td></tr>
<tr id="xdx_40D_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_zK1jBLJbT1Tg" style="vertical-align: top; text-align: center">
<td> </td>
<td>-12.65%</td>
<td>4.22%</td>
<td>1.20%</td>
<td>6.53%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img alt="(BAR CHAT)" src="st003_v1.jpg"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
-0.1265
0.0422
0.0120
0.0653
<p id="xdx_A86_eoef--BarChartClosingTextBlock_znlsY5aAdLoc" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_907_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zWwjvrupjXu6">the highest return for a quarter</span> was <span id="xdx_900_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zhy9PCc37Z8d">5.32%</span> (quarter ended <span id="xdx_907_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_z2LM6wljP342">December 31, 2023</span>), and <span id="xdx_901_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_z89Iy1snFu09">the lowest return
for a quarter</span> was <span id="xdx_90D_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zVh8hfLJOdx3">-5.20%</span> (quarter ended <span id="xdx_908_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zTWqNOidxHLb">June 30, 2022</span>).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zfn3gLWWovAj">The
Fund’s year-to-date return</span> as of <span id="xdx_901_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_z3ozb7C54Rz3">June 30, 2026</span> was <span id="xdx_906_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zv5bV3veSJOb">0.72%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
the highest return for a quarter
0.0532
2023-12-31
the lowest return
for a quarter
-0.0520
2022-06-30
The
Fund’s year-to-date return
2026-06-30
0.0072
Average
Annual Total Returns
(For periods ended December 31, 2025)
<div id="xdx_A8D_eoef--PerformanceTableTextBlock_znph2NlXbIbg"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_zDfL9454STOk" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 42%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_495_20250101__20251231_zxStmpDppAPd" style="border-top: black 1pt solid; padding: 1pt 5pt; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1
Year</b></span></td>
<td id="xdx_49C_20210928__20251231_zTUhP7JNuMNe" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception <br/>
(<span id="xdx_908_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_zTGDJqncxCzd">September 28, 2021</span>)</b></span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_zS6ifVVKfy5i" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member_z7FsAqf50pYg">Return
Before Taxes</span></span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.53%</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.27)%</span></td></tr>
<tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zs04GdpAlLEi" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.03%</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1.56)%</span></td></tr>
<tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000073631Member__oef--ClassAxis__custom--C000230670Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zXrFDFgO5vj3" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.86%</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.76)%</span></td></tr>
<tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000073631Member__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zlt29erxsIX7" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bloomberg
US Aggregate Bond Index (<span id="xdx_903_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zwhrhIl3hJ58">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.30%</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.04)%</span></td></tr>
</table>
2021-09-28
Return
Before Taxes
0.0653
-0.0027
0.0503
-0.0156
0.0386
-0.0076
reflects no deduction for fees, expenses or taxes
0.0730
-0.0004
<p id="xdx_A8C_eoef--PerformanceTableClosingTextBlock_zLKwWX4o1kC8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eoef--PerformanceTableUsesHighestFederalRate_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zYwxs2He2k8k">After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.</span> <span id="xdx_90E_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260827__20260827__dei--LegalEntityAxis__custom--S000073631Member_zvI2HELKpqZd">Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.</span></span></p>
After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.
FUND
SUMMARY – DAY HAGAN SMART SECTOR INTERNATIONAL ETF
Investment
Objective:
<p id="xdx_A8B_eoef--ObjectivePrimaryTextBlock_zZ8dl27N82Xf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The Fund’s investment objective is to seek total return, consisting of income and capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A82_eoef--ExpenseNarrativeTextBlock_zCTlaw86Ynw4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zBiFfxKcFhL3"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_zKCXUnURq607" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 6.8pt"></td>
<td id="xdx_49E_20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_zTzmWGMdgYxj" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; vertical-align: bottom; padding-left: 5pt; text-align: center"></td></tr>
<tr id="xdx_40B_eoef--ShareholderFeeOther_dn_zCRkxPU18mV1" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 80%; padding-left: 6.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 20%; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_zMGMnApySiL5"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zrXSX1AcYcg2" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_49E_20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_zrlTkGwEs2zf" style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"> </td></tr>
<tr id="xdx_40A_eoef--ManagementFeesOverAssets_dpn_zyw3e9Mqnaj3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; width: 80%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee<sup id="xdx_F49_z6jf38dJN62j">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.68%</span></td></tr>
<tr id="xdx_40F_eoef--DistributionAndService12b1FeesOverAssets_dpn_zG0Fvx9FsrUf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_405_eoef--OtherExpensesOverAssets_dpn_z4d8hFQr24q6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses<sup id="xdx_F47_zuJJI7lMQCRe">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_400_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_znB83giSBEO7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F4D_zs1nzecp2MZa">(2)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.51%</span></td></tr>
<tr id="xdx_408_eoef--ExpensesOverAssets_dpn_zBQdiKu59Si" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Operating Expenses</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.19%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F01_zNAa4hMR13Kb">(1)</sup></span></td><td style="text-align: justify"><span id="xdx_F11_zRnyRF3xZjIg" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
management fee is structured as a “unified fee,” out of which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F09_zbK4YatmKWh7">(2)</sup></span></td><td style="text-align: justify"><span id="xdx_F15_zLLbjQSt7SHb" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies. <span id="xdx_901_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zVxaGxMekxDb">The Total Annual Fund Operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
0.0068
0.0000
0.0000
0.0051
0.0119
The Total Annual Fund Operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
Example:
<p id="xdx_A82_eoef--ExpenseExampleNarrativeTextBlock_zvWcCkQMMcJ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A8B_eoef--ExpenseExampleWithRedemptionTableTextBlock_zAwd5Vvi7K88"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zwqwiRB7Yha1" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_481_eoef--ExpenseExampleYear01_z0kYJQa9MjE2" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_48C_eoef--ExpenseExampleYear03_z4lNCM7wSqg5" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_48C_eoef--ExpenseExampleYear05_zlUAWTV7z86h" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_48C_eoef--ExpenseExampleYear10_zGAuvYHzfcDk" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_411_20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_z0uqE1YjfhY1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$121</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$378</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$654</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,443</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
121
378
654
1443
Portfolio
Turnover:
<p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_zeTdKlwrHyj3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>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 fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_901_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_znT1ida2PYVc">335%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
3.35
Principal
Investment Strategy
<p id="xdx_A80_eoef--StrategyNarrativeTextBlock_zRAfuFIG7SK6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s investment advisor, Day Hagan Asset Management (the “Advisor”), actively manages the Fund’s portfolio
using proprietary investment models. The Fund is considered a “fund of funds” that, under normal market conditions, seeks
to achieve its investment objective by principally investing in unaffiliated international equity exchange traded funds (“ETFs”).
The Fund will attempt to exceed returns of the MSCI ACWI ex USA Index (the “Index”) by overweighting and underweighting its
exposure to geographic locations relative to the Index and may also invest in geographic regions not represented in the Index. The Fund
may reduce its overall exposure to ETFs from time to time as determined by its risk management model, as discussed further below. The
Index is a free float-adjusted market capitalization weighted index designed to measure the combined equity market performance of developed
and emerging markets countries, excluding the U.S. As of May 31, 2026, the Index consisted of securities of 13 developed countries (excluding
the US) and 6 emerging markets countries.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
normal market conditions, the Fund will invest (indirectly through ETFs) primarily in companies located in multiple countries outside
the United States. The Fund utilizes region-specific models and rankings to determine its target allocation to each country and regional
location. The models and rankings combine region- specific indicators to form a composite for each location. The models and rankings
are designed to evaluate fundamental, technical, economic, and behavioral indicators for each region, such as a region’s GDP growth,
inflation levels, money supply, equity valuations, price-to-earnings multiples, analyst’s earnings expectations, market trends,
and overall investor sentiment. The indicators for each region focus on risk/reward characteristics of each region with the goal of investing
in the regions that have the highest probability of maximizing total return. By combining multiple and diverse indicators, the composite
models seek to objectively assess the weight of the evidence and generate geographic allocation recommendations. The Fund’s allocation
to a particular geographic location may at times be greater than 25%. Conversely, the Fund’s allocation to a particular geographic
location may be reduced to 0% if the region’s model composite is at low levels.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund will invest in ETFs that invest primarily in specific geographical locations. Accordingly, the Fund will deem the relevant holdings
of such ETFs to be tied to the specific geographical locations in which the ETFs invest. The criteria for determining if an ETF’s
investments are tied to a particular country or region may differ across ETF providers. Additional information on such criteria can be
found in the underlying ETF’s registration statement. A list of the underlying ETFs and their weightings at the end of the most
recently completed fiscal year will be included in the Fund’s annual report.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s risk management model defines the Fund’s overall target equity allocation. The model reading represents the net percentage
of indicators that are bullish; that is, the model evaluates the indicators to seek to identify regions with the highest probability
of rising equity markets, while also measuring the potential risk level of factors the equity markets face.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
normal market conditions, the Fund intends to invest predominantly in international equity ETFs but will reduce its exposure by as much
as 50% of its assets during times that the model deems the international equity markets to have a low reward-to-risk ratio from a historical
perspective. During these times, the Fund may hold up to 50% of its assets in cash and cash equivalents, including U.S. Treasury securities
and money market funds, or utilize derivative securities designed to effectively reduce, or seek to hedge, the Fund’s overall equity
exposure. The Fund may purchase index put options and sell index futures contracts to reduce the overall equity exposure of the Fund
and are not intended to achieve a net short position. The decision to purchase or sell derivative securities will be based on the cost
and market liquidity of the derivative being used to reduce exposure. The Fund will increase its equity investments when the investment
models return to levels indicating that major risks have potentially subsided.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s portfolio is rebalanced monthly, although the Advisor may engage in intra-month trades if the models show substantial changes.
The Fund may actively trades its portfolio securities in an attempt to achieve its investment objective; trading activity may also be
increased in periods of high market volatility.</span></p>
<p id="xdx_A81_eoef--RiskTextBlock_gRBRTB-HZD_z60hbfcpJ4G3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s NAV, market price
and returns will vary, and you could lose money on your investment in the Fund and those losses could be significant. An investment in
the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government
agency.</span></p>
<p id="xdx_A95_zkUHTN2rvF86" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment. These risks affect the Fund directly as well as through the ETFs in which it invests.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveTradingRiskMember_zwsCSXF00ynd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active
Trading Risk. </b>The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance)
and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Under certain market
conditions, the Fund’s turnover may be very high and considerably higher than that of other funds.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zKgxZDe6CpS" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zIuYQaKct0Hh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--GreaterChinaInvestmentRiskMember_zUtFdA8iiKTa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Greater
China Investment Risk. </b>Investments in companies located or operating in Greater China (normally considered to be the geographical
area that includes mainland China, Hong Kong, Macau and Taiwan) involve risks and considerations not typically associated with investments
in the U.S. and other Western nations, such as greater government control over the economy; political, legal and regulatory uncertainty;
nationalization, expropriation, or confiscation of property; difficulty in obtaining information necessary for investigations into and/or
litigation against Chinese companies, as well as in obtaining and/or enforcing judgments; limited legal remedies for shareholders; alteration
or discontinuation of economic reforms; military conflicts, either internal or with other countries; inflation, currency fluctuations
and fluctuations in inflation and interest rates that may have negative effects on the economy and securities markets of Greater China.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_zcnJPR0YfY3h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk.</b> The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing
directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction
may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value
of the derivative may not correlate perfectly with the underlying reference asset. Derivatives can also create leverage risk because
they do not require payment up front equal to the economic exposure created by holding a position in the derivative. As a result, an
adverse change in the value of the underlying asset could result in the Fund sustaining a loss that is substantially greater than the
amount invested in the derivative or the anticipated value of the underlying asset, which may make the Fund’s returns more volatile
and increase the risk of loss. Derivative instruments may be less liquid than more traditional investments and the Fund may be unable
to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions,
during which the Fund may be most in need of liquidating its derivative positions. Derivatives may also be less tax efficient and subject
to changing government regulation that could impact the Fund’s ability to use certain derivatives or their cost. When a derivative
is used for hedging, the change in value of the derivative may also not correlate specifically with the risk of the underlying asset
being hedged. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events, geopolitical conflicts, changes in interest rates, inflation
and deflation and changes in supply and demand relationships. Derivatives strategies may not always be successful, and their successful
use will depend on the portfolio managers’ ability to accurately forecast movements in the market relating to the underlying asset.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_za19Klu8Qeg4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk. </i>Investments in futures contracts involve leverage, which means a small percentage of assets invested in futures can have a
disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. In addition,
futures contracts may become mispriced or improperly valued relative to the Advisor’s expectations and may not produce the desired
investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the underlying
reference asset because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends.</span></td></tr></table></div><p id="xdx_A9B_zZv4MEoez1Bd" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zSP5vbzZuGgc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk. </i>Hedging is a strategy in which the Fund uses options or futures to seek to offset the risks associated with other Fund holdings.
There can be no assurance that the Fund’s hedging strategy will reduce risk or that hedging transactions will be either available
or cost effective.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_z3PjFROyzJhl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; color: #212121; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk. </i>Markets for options may not always operate on a fair and orderly basis. At times, prices for options may not represent
fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation
of volatility, options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives
and could potentially lead to significant losses.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zA3fVIX5pYSl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk.</i> There are risks associated with the Fund’s use of options. As the buyer of a put option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not fall below the strike price, which means the option will
expire worthless.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
purchased options may decline in value due to changes in the price of the underlying reference instrument, passage of time and changes
in volatility. Generally, options may not be an effective hedge because they may have imperfect correlation to the value of the Fund’s
portfolio securities. Further, the underlying reference instrument on which the option is based may have imperfect correlation to the
value of the Fund’s portfolio securities. Option premiums are treated as short-term capital gains and when distributed to shareholders,
are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders holding Fund shares
in a taxable account. Options are also subject to leverage and volatility risk, liquidity risk, and tracking risk.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketRiskMember_zFnID5iZi8y3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Market Risk. </b>Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing, and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging markets usually are subject to greater market volatility, political, social, and economic instability, uncertainty regarding
the existence of trading markets and more governmental limitations on foreign investment than are more developed markets. Emerging market
economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to
default. Emerging market securities also tend to be less liquid, and the prices of such securities tend to be more volatile than the
securities of issuers located in developed markets. Investments in emerging markets securities may be subject to additional transaction
costs, delays in settlement procedures, unexpected market closures, and lack of timely information.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zg49KnnQWyU4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk. </b>The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p id="xdx_A91_zJ0wXO9P8BPk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"> </p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-SAVOH_zsinhP85b2ik" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zcH4MLtQGglh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z8Zwpjv77Hvd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zGXq7Gy9AhB2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which may
result in a significantly diminished trading market for the Fund’s shares and can lead to differences between the market value of
Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zMxTr0u6Q03i" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zLZA1arD3pzj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk. </b>Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers maybe less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). All of the risks of investing in foreign securities are typically increased by investing in
emerging market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by
substantial currency conversion costs.</span></p><p id="xdx_A9D_zTDoO3IJBXzg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--GeographicConcentrationRiskMember_zPhLOSfbKdQ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Geographic
Concentration Risk. </b>The Fund may be particularly susceptible to economic, political, regulatory, or other events or conditions affecting
countries within the specific geographic regions in which the Fund invests. Currency devaluations could occur in countries that have
not yet experienced currency devaluation to date or could continue to occur in countries that have already experienced such devaluations.
As a result, the Fund’s NAV or market price may be more volatile than a more geographically diversified fund.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zScxp0CPKBU5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zxg4MMqCJFWg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zdNn5hKTkQic" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_ztaSJWssrjIa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk. </b>Like all quantitative analysis, the investment models utilized by the Advisor carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons including errors, omissions,
imperfections, or malfunctions. Because the use of models is usually constructed based on data supplied by third parties, the success
of the Advisor’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions. The accuracy, timeliness, and sufficiency of information used to construct
the models used to manage the Fund’s portfolio, particularly information relating to non-U.S. and emerging markets issuers, are
susceptible to risks associated with foreign and emerging markets investments, as described under “Foreign Investment Risk”
and “Emerging Market Risk” above.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zOUYPjS8rdLa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zHSmsQWrHbR1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government- sponsored
instrumentalities or enterprises.</span></p><p id="xdx_A9A_zTGt4VpcioC3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Funds’
Principal Investment Strategies and Related Risks.”</span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveTradingRiskMember_zwsCSXF00ynd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active
Trading Risk. </b>The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance)
and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Under certain market
conditions, the Fund’s turnover may be very high and considerably higher than that of other funds.</span></p><div id="xdx_C03_gRBRTB-HZD_zsEvWRB7wyX9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zKgxZDe6CpS" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0B_gRBRTB-HZD_z3gUEtt9Csck"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zIuYQaKct0Hh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><div id="xdx_C01_gRBRTB-HZD_zRYomJ7dc3Ye"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--GreaterChinaInvestmentRiskMember_zUtFdA8iiKTa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Greater
China Investment Risk. </b>Investments in companies located or operating in Greater China (normally considered to be the geographical
area that includes mainland China, Hong Kong, Macau and Taiwan) involve risks and considerations not typically associated with investments
in the U.S. and other Western nations, such as greater government control over the economy; political, legal and regulatory uncertainty;
nationalization, expropriation, or confiscation of property; difficulty in obtaining information necessary for investigations into and/or
litigation against Chinese companies, as well as in obtaining and/or enforcing judgments; limited legal remedies for shareholders; alteration
or discontinuation of economic reforms; military conflicts, either internal or with other countries; inflation, currency fluctuations
and fluctuations in inflation and interest rates that may have negative effects on the economy and securities markets of Greater China.</span></p><div id="xdx_C01_gRBRTB-HZD_z0oVdUwFJmji"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_zcnJPR0YfY3h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk.</b> The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing
directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction
may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk that changes in the value
of the derivative may not correlate perfectly with the underlying reference asset. Derivatives can also create leverage risk because
they do not require payment up front equal to the economic exposure created by holding a position in the derivative. As a result, an
adverse change in the value of the underlying asset could result in the Fund sustaining a loss that is substantially greater than the
amount invested in the derivative or the anticipated value of the underlying asset, which may make the Fund’s returns more volatile
and increase the risk of loss. Derivative instruments may be less liquid than more traditional investments and the Fund may be unable
to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions,
during which the Fund may be most in need of liquidating its derivative positions. Derivatives may also be less tax efficient and subject
to changing government regulation that could impact the Fund’s ability to use certain derivatives or their cost. When a derivative
is used for hedging, the change in value of the derivative may also not correlate specifically with the risk of the underlying asset
being hedged. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events, geopolitical conflicts, changes in interest rates, inflation
and deflation and changes in supply and demand relationships. Derivatives strategies may not always be successful, and their successful
use will depend on the portfolio managers’ ability to accurately forecast movements in the market relating to the underlying asset.</span></p><div id="xdx_C08_gRBRTB-HZD_zVB1IQKiIg2f"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_za19Klu8Qeg4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk. </i>Investments in futures contracts involve leverage, which means a small percentage of assets invested in futures can have a
disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. In addition,
futures contracts may become mispriced or improperly valued relative to the Advisor’s expectations and may not produce the desired
investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the underlying
reference asset because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends.</span></td></tr></table></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zSP5vbzZuGgc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk. </i>Hedging is a strategy in which the Fund uses options or futures to seek to offset the risks associated with other Fund holdings.
There can be no assurance that the Fund’s hedging strategy will reduce risk or that hedging transactions will be either available
or cost effective.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-HZD_zmKX0zJH4cJe"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_z3PjFROyzJhl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; color: #212121; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk. </i>Markets for options may not always operate on a fair and orderly basis. At times, prices for options may not represent
fair market value and prices may be subject to manipulation, which may be extreme under some circumstances. The dysfunction and manipulation
of volatility, options markets may make it difficult for the Fund to effectively implement its investment strategy and achieve its objectives
and could potentially lead to significant losses.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-HZD_z3nfuzFsvwt5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zA3fVIX5pYSl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk.</i> There are risks associated with the Fund’s use of options. As the buyer of a put option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not fall below the strike price, which means the option will
expire worthless.</span></td></tr></table></div><div id="xdx_C05_gRBRTB-HZD_zpJKsIPCkp53"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C09_gRBRTB-HZD_zqO0yi4KMFrc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.75in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
purchased options may decline in value due to changes in the price of the underlying reference instrument, passage of time and changes
in volatility. Generally, options may not be an effective hedge because they may have imperfect correlation to the value of the Fund’s
portfolio securities. Further, the underlying reference instrument on which the option is based may have imperfect correlation to the
value of the Fund’s portfolio securities. Option premiums are treated as short-term capital gains and when distributed to shareholders,
are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders holding Fund shares
in a taxable account. Options are also subject to leverage and volatility risk, liquidity risk, and tracking risk.</span></p></div>
<div id="xdx_C06_gRBRTB-HZD_zfxY2jJwdUz8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketRiskMember_zFnID5iZi8y3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Market Risk. </b>Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing, and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging markets usually are subject to greater market volatility, political, social, and economic instability, uncertainty regarding
the existence of trading markets and more governmental limitations on foreign investment than are more developed markets. Emerging market
economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to
default. Emerging market securities also tend to be less liquid, and the prices of such securities tend to be more volatile than the
securities of issuers located in developed markets. Investments in emerging markets securities may be subject to additional transaction
costs, delays in settlement procedures, unexpected market closures, and lack of timely information.</span></p><div id="xdx_C05_gRBRTB-HZD_zlB88eWqnrI2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zg49KnnQWyU4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk. </b>The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-SAVOH_zsinhP85b2ik" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C07_gRBRTB-HZD_zjwU5ALFWrF9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C05_gRBRTB-HZD_ztchh2T8mHOj"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zcH4MLtQGglh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C01_gRBRTB-HZD_zKSZtOfss5Nk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0C_gRBRTB-HZD_zaSWPXH7xMf1"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z8Zwpjv77Hvd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C07_gRBRTB-HZD_zqBLNNARB3r5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-HZD_z5NOME2mbx8a"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zGXq7Gy9AhB2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C00_gRBRTB-HZD_zG13ZIljEvw"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C04_gRBRTB-HZD_zGjwPPsDPxrf"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which may
result in a significantly diminished trading market for the Fund’s shares and can lead to differences between the market value of
Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C03_gRBRTB-HZD_z45FrmjAA9Bd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C09_gRBRTB-HZD_zvM6qRFvwmz6"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-HZD_zotycY6y1yWd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-HZD_zY5IEj2Kb4v9"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-HZD_zrUNTJQq2Ai3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0A_gRBRTB-HZD_zRQPuEbpZC07"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zcH4MLtQGglh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C02_gRBRTB-SAVOH_zFDYklugwsTb"><div id="xdx_C01_gRBRTB-HZD_zKSZtOfss5Nk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z8Zwpjv77Hvd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C07_gRBRTB-SAVOH_znYyXECc7Kx3"><div id="xdx_C07_gRBRTB-HZD_zqBLNNARB3r5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zGXq7Gy9AhB2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-SAVOH_ztLUK9NhGPle"><div id="xdx_C00_gRBRTB-HZD_zG13ZIljEvw"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C03_gRBRTB-SAVOH_zPrwDWA0AXZc"><div id="xdx_C04_gRBRTB-HZD_zGjwPPsDPxrf"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which may
result in a significantly diminished trading market for the Fund’s shares and can lead to differences between the market value of
Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C07_gRBRTB-SAVOH_zLC34Ox2hKL9"><div id="xdx_C03_gRBRTB-HZD_z45FrmjAA9Bd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C07_gRBRTB-SAVOH_zXgchN0OTeC2"><div id="xdx_C09_gRBRTB-HZD_zvM6qRFvwmz6"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C00_gRBRTB-SAVOH_zSrU61yWE1K2"><div id="xdx_C0B_gRBRTB-HZD_zotycY6y1yWd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C09_gRBRTB-SAVOH_zslrcZ4znkT4"><div id="xdx_C01_gRBRTB-HZD_zY5IEj2Kb4v9"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C09_gRBRTB-SAVOH_zoUhq3cyTqIc"><div id="xdx_C09_gRBRTB-HZD_zrUNTJQq2Ai3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C01_gRBRTB-SAVOH_zhHzjHDODKg8"><div id="xdx_C0A_gRBRTB-HZD_zRQPuEbpZC07"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C03_gRBRTB-HZD_zUvWyKhwGnx2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zMxTr0u6Q03i" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><div id="xdx_C0A_gRBRTB-HZD_zltXT9aDgwH7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zLZA1arD3pzj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk. </b>Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers maybe less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). All of the risks of investing in foreign securities are typically increased by investing in
emerging market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by
substantial currency conversion costs.</span></p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--GeographicConcentrationRiskMember_zPhLOSfbKdQ7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Geographic
Concentration Risk. </b>The Fund may be particularly susceptible to economic, political, regulatory, or other events or conditions affecting
countries within the specific geographic regions in which the Fund invests. Currency devaluations could occur in countries that have
not yet experienced currency devaluation to date or could continue to occur in countries that have already experienced such devaluations.
As a result, the Fund’s NAV or market price may be more volatile than a more geographically diversified fund.</span></p><div id="xdx_C01_gRBRTB-HZD_z2vGSwDGVTm1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zScxp0CPKBU5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C05_gRBRTB-HZD_zMHOUPz4ue35"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zxg4MMqCJFWg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C03_gRBRTB-HZD_zHjmYPd5nYB3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zdNn5hKTkQic" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets.</span></p><div id="xdx_C0C_gRBRTB-HZD_zM3jW0dZka17"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_ztaSJWssrjIa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk. </b>Like all quantitative analysis, the investment models utilized by the Advisor carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons including errors, omissions,
imperfections, or malfunctions. Because the use of models is usually constructed based on data supplied by third parties, the success
of the Advisor’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions. The accuracy, timeliness, and sufficiency of information used to construct
the models used to manage the Fund’s portfolio, particularly information relating to non-U.S. and emerging markets issuers, are
susceptible to risks associated with foreign and emerging markets investments, as described under “Foreign Investment Risk”
and “Emerging Market Risk” above.</span></p><div id="xdx_C06_gRBRTB-HZD_z7vgYgJ2jDbc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zOUYPjS8rdLa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><div id="xdx_C08_gRBRTB-HZD_z5g5TBIb2Vt3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zHSmsQWrHbR1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government- sponsored
instrumentalities or enterprises.</span></p>
Performance:
<p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_z4bZpZCGvSF7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_z6FO6v8Vimp6">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.</span> <span id="xdx_908_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zhQ34fw7eg8b">How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.</span> Updated performance information is available at no cost at <span id="xdx_90B_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zRj2IHdKjyL1">www.dhfunds.com</span> or by calling <span id="xdx_90D_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zIYfJ7wllnec">1-800-594-7930</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.
www.dhfunds.com
1-800-594-7930
Annual
Total Returns
<div id="xdx_A80_eoef--BarChartTableTextBlock_zE7weIa0XHYi"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zfiBq6Bg7CD2" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 25%"> </td>
<td id="xdx_49D_20230101__20231231_zeEfAGRV0Ig" style="text-align: center; width: 25%">2023</td>
<td id="xdx_491_20240101__20241231_zd3JfwHmpWhb" style="text-align: center; width: 25%">2024</td>
<td id="xdx_491_20250101__20251231_zCrPJLWVpmak" style="text-align: center; width: 25%">2025</td></tr>
<tr id="xdx_409_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_zWm03ZDCJ605" style="vertical-align: top; text-align: center">
<td> </td>
<td>9.81%</td>
<td>5.27%</td>
<td>26.97%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img alt="(BAR CHAT)" src="st004_v1.jpg"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0981
0.0527
0.2697
<p id="xdx_A85_eoef--BarChartClosingTextBlock_zEJk9Cl1d1B5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_90D_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zEwn0cWbPxsg">the highest return for a quarter</span> was <span id="xdx_90B_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zXsoKD5kkEEl">9.59%</span> (quarter ended <span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zpYVIvByVJvk">June 30, 2025</span>), and <span id="xdx_909_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zKsqhodc25pd">the lowest return for
a quarter</span> was <span id="xdx_90A_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zlqeO4kp1REc">-7.00%</span> (quarter ended <span id="xdx_90D_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zV5PdnRcxN71">December 31, 2024</span>).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_900_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zRCRcbLYkBy3">The
Fund’s year-to-date return</span> as of <span id="xdx_90B_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_z2o6Nlx8X3o">June 30, 2026</span> was <span id="xdx_907_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zBrL4VlizOai">3.24%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
the highest return for a quarter
0.0959
2025-06-30
the lowest return for
a quarter
-0.0700
2024-12-31
The
Fund’s year-to-date return
2026-06-30
0.0324
Average
Annual Total Returns
(For periods ended December 31, 2025)
<div id="xdx_A8F_eoef--PerformanceTableTextBlock_zdApNnuJVfAd"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zdELkF6MizSl" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 42%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_491_20250101__20251231_zOpEPxDvJ746" style="border-top: black 1pt solid; padding: 1pt 5pt; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1
Year</b></span></td>
<td id="xdx_497_20220630__20251231_zHt4ZH41zOEe" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception <br/>
(<span id="xdx_90E_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_zpi5Z4CsSXr9">June 30, 2022</span>)</b></span></td></tr>
<tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_zQcebpKXFDt5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member_z9jHYnfMOZg3">Return
Before Taxes</span></span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26.97%
</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.22%
</span></td></tr>
<tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zdokWviVxod4" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">26.18%
</span></td>
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.52%
</span></td></tr>
<tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076645Member__oef--ClassAxis__custom--C000236642Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zEMr9SwmGjL" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.52%
</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.44%
</span></td></tr>
<tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000076645Member__oef--PerformanceMeasureAxis__custom--MSCIACWIExUSAIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zj6q7JrmBUed" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; padding: 1pt 5pt; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MSCI
ACWI ex USA Index (<span id="xdx_905_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_z77LnKMMzWJe">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.11%
</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: middle; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.21%
</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0pt"> </p>
2022-06-30
Return
Before Taxes
0.2697
0.1222
0.2618
0.1152
0.1652
0.0944
reflects no deduction for fees, expenses or taxes
0.3311
0.1621
<p id="xdx_A8C_eoef--PerformanceTableClosingTextBlock_zCoojkgUfgX6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eoef--PerformanceTableUsesHighestFederalRate_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_zZcS1TM433ob">After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.</span> <span id="xdx_90F_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260827__20260827__dei--LegalEntityAxis__custom--S000076645Member_z08pgEcSIiYf">Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.</span></span></p>
After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.
FUND
SUMMARY – DAY HAGAN SMART BUFFER ETF
Investment
Objective:
<p id="xdx_A84_eoef--ObjectivePrimaryTextBlock_zfL84grW55o1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s investment objective is to seek long-term capital appreciation and preservation of capital.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A87_eoef--ExpenseNarrativeTextBlock_zkcqHNohljXh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A85_eoef--ShareholderFeesTableTextBlock_zxymT9xP1grc"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zxRkCttesNX4" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 6.8pt"></td>
<td id="xdx_49F_20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member__oef--ClassAxis__custom--C000255777Member_zJBlUADF1ju4" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5pt; vertical-align: bottom; padding-left: 5pt; text-align: center"></td></tr>
<tr id="xdx_405_eoef--ShareholderFeeOther_dn_zX0luMA5A59i" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 80%; padding-left: 6.8pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 20%; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A84_eoef--AnnualFundOperatingExpensesTableTextBlock_zEjGyxGOpePg"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zDm9Fzi7goId" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_49F_20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member__oef--ClassAxis__custom--C000255777Member_zA4STkw69UA2" style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding-left: 5.4pt"> </td></tr>
<tr id="xdx_409_eoef--ManagementFeesOverAssets_dpn_zXzxB5jsTPt6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt; width: 80%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee<sup id="xdx_F40_zT0rQ39Ue5m7">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.65%</span></td></tr>
<tr id="xdx_404_eoef--DistributionAndService12b1FeesOverAssets_dpn_ztAJNc8Cwv3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40F_eoef--OtherExpensesOverAssets_dpn_zJM8ksypRDF7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.08%</span></td></tr>
<tr id="xdx_40F_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zRNGFhL5pZQj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F45_zr8Pxb4jBfO3">(2)</sup></span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.09%</span></td></tr>
<tr id="xdx_40F_eoef--ExpensesOverAssets_dpn_zZfVl11wLP5l" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Operating Expenses</span></td>
<td style="border-bottom: black 1pt solid; padding-right: 5pt; font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.82%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F04_zuM2nVy99vsh" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="text-align: justify"><span id="xdx_F19_zgZb6LSV4r7b" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
management fee is structured as a “unified fee,” out of which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F01_zAWpIqIs956d" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2)</span></td><td style="text-align: justify"><span id="xdx_F1B_z7THyMIlXqt3" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies.
<span id="xdx_90C_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member_zvmiyLqUk961">The Total Annual Fund Operating expenses in this fee table will not correlate to the expense
ratio in the Fund’s Financial Highlights because the financial statements include only
the direct operating expenses incurred by the Fund, not the indirect costs of investing in
other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0065
0.0000
0.0008
0.0009
0.0082
The Total Annual Fund Operating expenses in this fee table will not correlate to the expense
ratio in the Fund’s Financial Highlights because the financial statements include only
the direct operating expenses incurred by the Fund, not the indirect costs of investing in
other investment companies.
Example:
<p id="xdx_A8B_eoef--ExpenseExampleNarrativeTextBlock_zOvMScLqBX9h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then sell or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A89_eoef--ExpenseExampleWithRedemptionTableTextBlock_zvhxxIeTd2Tj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A53_dU_z2aRHthP22rb" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_48C_eoef--ExpenseExampleYear01_zJkytCUnLYF7" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 31pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_48D_eoef--ExpenseExampleYear03_zQr7D2IX9gdg" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear05_z3wz3k8XOH8e" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear10_zLVf9kRB8cI3" style="font: 10pt Times New Roman, Times, Serif; width: 20%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_414_20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member__oef--ClassAxis__custom--C000255777Member_zSMhuE69sXZ6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.85pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$84</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$262</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$455</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,014</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.85pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
84
262
455
1014
Portfolio
Turnover:
<p id="xdx_A8E_eoef--PortfolioTurnoverTextBlock_zHZ2rBjyiRAi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>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 fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_908_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member_zgWFZftWFdn4">15%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.15
Principal
Investment Strategy
<p id="xdx_A85_eoef--StrategyNarrativeTextBlock_z4bM9geHwcGg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund is an actively managed exchange-traded fund (“ETF”) that, under normal circumstances, seeks to achieve its investment
objective principally by investing in U.S.-listed exchange-traded funds (“U.S. Equity ETFs,” and each, a “U.S. Equity
ETF”) that replicate the performance of broad-based U.S. equity indexes (“U.S. Equity Indexes,” and each, a “U.S.
Equity Index”), equity securities of companies within such indexes (“U.S. Equity Securities,” and collectively with
U.S. Equity ETFs and U.S. Equity Indexes, “U.S. Equity Investments”), and utilizing options and/or options “spreads”
on U.S. Equity Investments. The equity securities and options held by the Fund will be listed on U.S. exchanges, and may include common
stocks, American Depositary Receipts (“ADRs”) (i.e., receipts evidencing ownership of foreign equity securities) and real
estate investment trusts (“REITs”). The Fund may invest in securities from a broad range of market capitalizations, including
large-cap stocks typically exceeding $10 billion, mid-cap stocks generally between $2 billion and $10 billion, and small-cap stocks generally
below $2 billion. The Fund’s investments in these market segments may expose it to varying degrees of liquidity risk, market volatility,
and company-specific risk associated with each capitalization range, which may impact the Fund’s performance depending on prevailing
market conditions.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund will use options to generate income and seek to hedge against losses. The Fund’s options strategies typically consist of utilizing
a combination of purchased and written (sold) call and/or put options (known as a “spreads”) to generate income and seek
to hedge against losses. The Fund will primarily seek to implement an options strategy with two components: (i) selling covered call
options on up to 100% of the U.S. Equity Investments to generate premium from such options, while (ii) simultaneously reinvesting a portion
of such premium to buy put options or put spreads on the same U.S. Equity Investments to seek to hedge or mitigate the downside risk
associated with owning equity securities. Put option and put spreads purchased by the Fund will typically be near the current at-the-money
strike price (i.e., strike price that is roughly equal to the current market price of the reference asset) but may have a strike price
that is lower (in some cases, significantly lower) than the current price of the reference asset. At the sole discretion of the Fund’s
investment advisor, Day Hagan Asset Management (the “Advisor”), when the Advisor determines that prevailing market conditions
are not advantageous for implementing the Fund’s options strategies or a portion of the option strategies, such strategies may
not be employed or may be partially employed. In these circumstances, the Fund may not utilize options contracts to establish caps or
buffers in their entirety, meaning there will be no or reduced predetermined limits on potential gains or protections against downside
losses typically associated with such strategies. As a result, the Fund’s performance during these periods will reflect the market
performance of its underlying investments without the effects of caps or buffers, which may lead to increased exposure to market volatility
and risk of loss. Investors should be aware that the absence of options strategies during these times may affect the Fund’s risk
and return profile.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Options
contracts generally are agreements where: (i) the purchaser of an option pays a cost (the “premium”) for the right to buy
(for a call option) or sell (for a put option) a specified reference asset at a specified price (“strike price”) until a
specified date (“expiration date”); (ii) and conversely, where the seller receives a premium and is obligated to sell (for
a call option) or buy (for a put option) shares of a specified reference asset at a specified strike price until a specified expiration
date. Options selected for the Fund may be “rolled” periodically (based on the levels of the underlying holdings) to continue
generating income or to reflect the Advisor’s revised outlook on the underlying portfolio security. When an option is rolled, the
Advisor simultaneously closes one option contract and enters another on the same reference asset. The new contract entered can have a
further-dated expiration (i.e., the option would be rolled “out”), a higher strike price (i.e., rolled “up”),
a lower strike price (i.e., rolled “down”), or a combination of both a different expiration and strike. The decision to roll
options and rebalance the portfolio is at the discretion of the Advisor.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s assets will include option holdings, the value of which is derived from the performance of the underlying U.S. Equity Investments.
However, a component of an option contract’s value is the remaining time until expiration. Accordingly, the Fund’s NAV will
not be directly correlated on a day-to-day basis with the price or returns experienced by the U.S. Equity Investments. The Advisor anticipates
that the Fund’s NAV will move in the same direction as the U.S. Equity Investments; however, the Fund’s NAV may not increase
or decrease at the same rate as the value of the U.S. Equity Investments. It is possible that the degree of non-correlation between the
value of the options and the value of the underlying U.S. Equity Investments will be higher than if the options had a shorter term. The
Advisor generally anticipates that the Fund’s NAV will increase on days when the value of the U.S. Equity Investments increases
and will decrease on days when the U.S. Equity Investments decreases, but that the rate of such increase or decrease will be less than
that experienced by the U.S. Equity Investments. The Fund seeks to generate returns that match the U.S. Equity Investments up to the
cap while limiting downside losses if the options are held until expiration and not rolled, as discussed below in the sections titled
“Buffer on Potential Losses” and “Cap on Potential Upside Returns.”</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Purchased
Call and Put Options</i>. In the event the reference asset appreciates above the strike price (for call options) or declines in value
below the strike price (for put options) and the holder exercises its option, the holder will be entitled to receive the difference between
the value of the reference asset and the strike price (which gain is offset by the premium originally paid by the holder). In the event
the reference asset closes below the strike price (for call options) or above the strike price (for put options) as of the expiration
date, the option may end up worthless, and the holders’ loss is limited to the amount of premium it paid.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Written
Call and Put Options</i>. In the event the reference asset appreciates above the strike price (for call options) or declines in value
below the strike price (for put options) and the holder exercises its option, the writer (seller) of the option will have to pay the
difference between the value of the reference asset and the strike price or deliver the reference asset (which loss is offset by the
premium initially received). In the event the reference asset declines in value (for written call options) or appreciates in value (for
written put options), the option may end up worthless and the writer (seller) of the option retains the premium.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
call and put options written by the Fund will be “covered” because the Fund will either have long positions (i.e., the Fund
owns the securities or options on those securities) or short positions (i.e., the Fund sold borrowed securities) of the corresponding
reference assets at the time of sale that will offset risk potential of the written options. The Fund may write call options on up to
100% of each equity position held in the portfolio and will use a portion of the premium received from writing such call options to purchase
put options. Call options written by the Fund will typically have a strike price that is higher than the current price of the corresponding
reference asset. The put options written by the Fund are considered “covered” when either: (i) the Fund holds a long put
option with a strike price that his higher than the strike price of the Fund’s written put option, both of which are on the same
reference asset; or (ii) the Fund has at least 100 short shares of the same reference asset for every put option sold, typically with
a strike price below the reference asset’s current market value.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Buffer
on Potential Losses</span></i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund seeks to mitigate a portion of downside risk due to declines in the value of the U.S. Equity Investments it holds by providing a
buffer (the “Buffer”), primarily achieved through the purchase of put options, or a put spread, on U.S. Equity Investments.
The amount of protection provided by a Buffer will change as the values of the U.S. Equity Investments and the Fund’s options positions
change. The Advisor may reset the Buffer at any time, at its discretion, based on market conditions and the Fund’s risk management
objectives. There is no guarantee that the Fund will be successful in providing the sought-after protection with a Buffer. If the U.S.
Equity Investments held by the Fund increase in value after the Buffer is implemented, any appreciation of the Fund by virtue of the
increases in the U.S. Equity Investments in its portfolio that occurs after implementation of the Buffer will not be protected by the
Buffer. Therefore, an investor that purchases shares of the Fund after such implementation of a Buffer would have a different investment
experience than an investor that purchased shares prior to the implementation of the then-current Buffer. Such investors that purchase
before or after the implementation of a Buffer will not receive the entire protection that the Fund seeks to provide and will only be
protected against losses of the U.S. Equity Investments held by the Fund when the Fund’s NAV returns to its value at the time the
then-current Buffer was implemented and could experience losses until then or may not benefit from the Buffer at all. Depending on market
conditions at the time of purchase, a shareholder who purchases Shares of the Fund may lose their entire investment. An investment in
the Fund is only appropriate for shareholders willing to bear those losses and understands that the operation of the Buffer, and therefore
the protection, is not guaranteed. The Buffer is provided prior to taking into account annual Fund management fees, transaction fees,
and any extraordinary expenses incurred by the Fund. These fees and any expenses will have the effect of reducing the Buffer amount for
Fund shareholders.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cap
on Potential Upside Returns</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund seeks to participate in the upside returns of the U.S. Equity Investments held in its portfolio; however, due to the hedging nature
of the Buffer implementation, the Fund shareholders are subject to an upside return cap (the “Cap”) that represents the maximum
percentage return of Fund NAV an investor can achieve from an investment in the Fund based on the current holdings of the Fund, inclusive
of the underlying options. Therefore, even though the Fund’s returns are based upon the performance of the U.S. Equity Investments
held in its portfolio, if the U.S. Equity Investments held by the Fund experience returns in excess of the Cap, Fund shareholders will
not participate in such excess returns. The Cap will be reduced by any shareholder transaction fees and any extraordinary expenses incurred
by the Fund. The Buffer and Cap levels are expected to adjust with each rebalance of the Buffer strategy. Generally, a Buffer providing
greater downside protection will correspond with a lower Cap on potential upside returns, while a Buffer providing less downside protection
will allow for a higher Cap. For example, if the Fund resets its options strategy as the underlying asset appreciates, it may sell a
call option at a higher strike price and adjust the put spread upward. This shift increases the Cap level, as the higher strike price
permits greater participation in upside gains. Simultaneously, resetting the put spread upward increases the level of downside protection,
as the Buffer now kicks in at a higher market level, exposing the Fund to less near-term loss before protection begins. Such adjustments
reflect the trade-off between potential upside and downside protection inherent in the Fund’s strategy.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund’s website, <span style="text-decoration: underline">www.dhfunds.com</span>, provides important information (including, among other items, information relating to the
Buffer and Cap) on a daily basis. If you are contemplating purchasing Shares, please visit the Fund’s website.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
the Fund seeks to achieve its investment objective of upside appreciation and buffering a portion of downside risk, there is no guarantee
that it will do so. The returns that the Fund seeks to provide do not include the costs associated with purchasing Shares and certain
expenses incurred by the Fund.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img alt="(BAR CHAT)" src="st005_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
illustrative purposes only. The Fund may seek to track various ETFs and the use of SPDR S&P 500 ETF is solely illustrative. The performance
shown in the chart does not reflect the potential effects of the Fund’s fees and expenses or hedging strategies. The figures are
approximate and subject to change. The chart assumes a written call strike that is 12% above the current price of the underlying. The
premium received from the written call, along with dividends received from the underlying, is then used to purchase a put option spread.
The put spread consists of a purchased put option with a strike at the same price as the underlying and a written put option with a strike
that is 20% below the current price of the underlying. Options are assumed to be held to maturity and not rolled during the life of the
contract.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">Active
Rebalancing</span></i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
the U.S. Equity Investments held in the Fund’s portfolio increase in value, they move further from the Buffer level (the level
at which the Buffer potentially begins to mitigate losses) and closer to the Cap level. This changes the risk/return profile and, therefore,
the optimal Buffer and Cap percentages for the Fund. In other words, being further from the Buffer increases the Fund’s need for
downside protection, and being closer to the Cap can limit the Fund’s upside potential. When the ratio of upside potential to downside
risk is no longer deemed attractive by the Advisor, the Advisor will seek to “actively rebalance” the Fund to establish new
Buffer and Cap levels in an attempt to allow the Fund to participate in greater capital appreciation opportunities and/or attempt to
provide better downside protection based in the current values of the U.S. Equity Investments.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
dynamic approach seeks to optimize returns and enhance risk management in varying market conditions. The Buffers and Caps resulting from
each rebalance may not be realized due to the active rebalancing strategy. The Buffer and Cap percentages may not be more advantageous
than previous Buffer and Cap percentages. Active rebalancing may negate expected returns and the downside Buffer. Investors that purchase
shares may experience investment returns that are very different from those that the Fund seeks to provide. Further, active rebalancing
may also substantially affect the Buffer and Cap percentages with each rebalance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund is classified as “non-diversified” for purposes of the Investment Company Act of 1940, as amended (the “1940 Act”),
which means a relatively high percentage of the Fund’s assets may be invested in the securities of a limited number of issuers.</span></p>
<p id="xdx_A88_eoef--RiskTextBlock_gRBRTB-GDKH_zogW3kJBpITi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s NAV (“NAV”),
market price and returns will vary and you could lose money on your investment in the Fund and those losses could be significant.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment. These risks affect the Fund directly as well as through the ETFs in which it invests.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRRiskMember_z79qXsPgNdRl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. ADRs may not track the
price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets
are not open for trading. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zLeyeh7kvjze" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_zcbjFbiQEbG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk. </b>The Fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated
with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a
derivative transaction may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk
that changes in the value of the derivative may not correlate perfectly with the underlying reference asset. Derivatives may also be
less tax efficient and subject to changing government regulation that could impact the Fund’s ability to use certain derivatives
or their cost. In addition, changes in government regulation of derivative instruments could affect the character, timing and amount
of the Fund’s taxable income or gains and may limit or prevent the Fund from using certain types of derivative instruments as a
part of its investment strategy, which could make the investment strategy more costly to implement or require the Fund to change its
investment strategy. When a derivative is used for hedging, the change in value of the derivative may also not correlate specifically
with the risk of the underlying asset being hedged. Derivative prices are highly volatile and may fluctuate substantially during a short
period of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to changing supply
and demand relationships; government programs and policies; national and international political and economic events, and changes in
interest rates, inflation and deflation. Trading derivative instruments involves risks different from, or possibly greater than, the
risks associated with investing directly in securities including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zwjJfqlRHXJ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk. </i>Hedging is a strategy in which the Fund uses a security or derivative to seek to reduce the risks associated with other Fund
holdings. There can be no assurance that the Fund’s hedging strategy will reduce risk or that hedging transactions will be either
available or cost effective.</span></p><p id="xdx_A91_zigUxzHOKXtc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageAndVolatilityRiskMember_zrFzsfOJaEzc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
and Volatility Risk:</i> Derivative contracts ordinarily have leverage inherent in their terms. The low margin deposits normally required
in trading derivatives permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate and
substantial loss to the Fund. The use of leverage may also cause the Fund to liquidate portfolio positions when it would not be advantageous
to do so in order to satisfy its obligations or to meet margin requirements. The use of leveraged derivatives can magnify the Fund’s
potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zWuZ1L2Mf5ka" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity
Risk</i>: It is possible that particular derivative investments might be difficult to purchase or sell, possibly preventing the Fund
from executing positions at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable
times or prices in order to satisfy its obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zL2BOn8T7l51" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk. </i>Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for
options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under
some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively
implement its investment strategy and achieve its objectives and could potentially lead to significant losses.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zhCNqEbW8LEe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk.</i> There are risks associated with the Fund’s options strategy. Generally, options may not be an effective hedge because
they may have imperfect correlation to the value of the Fund’s portfolio securities. Factors such as differences in supply and
demand for certain options may cause their returns to deviate from the Advisor’s expectations. Additionally, the underlying reference
instrument on which the option is based may have imperfect correlation to the value of the Fund’s portfolio securities. As the
buyer of a call option, the Fund risks losing the entire premium invested in the option if the underlying reference instrument does not
rise above the strike price, which means the option will expire worthless. As the buyer of a put option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not fall below the strike price, which means the option will
expire worthless. Additionally, purchased options may decline in value due to changes in the price of the underlying reference instrument,
passage of time and changes in volatility. As a seller (writer) of a put option, the Fund will lose money if the value of the underlying
reference instrument falls below the strike price. As a seller (writer) of a call option, the Fund will lose money if the value of the
underlying reference instrument rises above the strike price. The Fund’s losses are potentially large in a written put transaction
and potentially unlimited in a written call transaction. Option premiums are treated as short-term capital gains and when distributed
to shareholders, are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders
holding Fund shares in a taxable account. Because option premiums paid or received by the Fund are small in relation to the market value
of the investments underlying the options, buying and selling put and call options can be more speculative than investing directly in
securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, option prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes
in supply and demand relationships.</span></p><p id="xdx_A9B_zQZ8v6G62XW6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zU43S1XySZ73" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk. </b>The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-PLRP_zHKdlQadQqGj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special
risks, including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zcfpUFjfCtki">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zzajXU02nYmh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z7NTpkpDatpk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p id="xdx_A97_z2dcOuB6PIk2" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zZUjB49MpWnk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zg2CmyQXfgI9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zy04JQ8VArC2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zQUtla69nKLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z4bOeHdeYcWh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidSmallCapStockRiskMember_zxns7tj9yOXd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mid/Small
Cap Stock Risk</b>. Because the smaller companies in which the Fund may invest may have unproven track records, a limited product or
service base and limited access to capital, they may be more likely to fail than larger companies.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--NewFundRiskMember_zQ6YElYbY35b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>New
Fund Risk. </b>The Fund is a relatively new fund with limited history of operations as an ETF for investors to evaluate. If the Fund
is unable to achieve an economic size, expenses will be higher than expected and the Fund might close, which could produce adverse tax
consequences for shareholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_z1dy7C3pA1pl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Diversification
Risk</b>. The Fund is classified as a “non-diversified” fund under the 1940 Act. Accordingly, the Fund may invest a greater
portion of its assets in the securities of a single issuer than if it were a “diversified” fund. To the extent that the Fund
invests a higher percentage of its assets in the securities of a single issuer, the Fund is subject to a higher degree of risk associated
with and developments affecting that issuer than a fund that invests more widely.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstatereitRiskMember_zObWwSIWsqH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate/REIT Risk. </b>The Fund’s investments in REITs are subject to the same risks as direct investments in real estate, including
sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial resources
and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zytY1TVF5RLf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk. </b>If the Fund focuses its investments within a particular Sector, it is subject to increased risk. Performance will generally
depend on the performance of the Sector, which may differ in direction and degree from that of the overall U.S. stock markets. In addition,
financial, economic, business and political developments affecting the Sector may have a greater effect on the Fund than they would if
the Fund did not focus on that Sector.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zAaBpUHr9bCa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p><p id="xdx_A99_zAqKqDUcJyta" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.”</span></p>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRRiskMember_z79qXsPgNdRl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. ADRs may not track the
price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets
are not open for trading. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.</span></p><div id="xdx_C09_gRBRTB-GDKH_zD7gkpzJchD5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zLeyeh7kvjze" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca,
Inc. (the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0F_gRBRTB-GDKH_zDp8vgY6PRik"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_zcbjFbiQEbG6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk. </b>The Fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated
with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a
derivative transaction may not fulfill its contractual obligations; (ii) risk of mispricing or improper valuation; and (iii) the risk
that changes in the value of the derivative may not correlate perfectly with the underlying reference asset. Derivatives may also be
less tax efficient and subject to changing government regulation that could impact the Fund’s ability to use certain derivatives
or their cost. In addition, changes in government regulation of derivative instruments could affect the character, timing and amount
of the Fund’s taxable income or gains and may limit or prevent the Fund from using certain types of derivative instruments as a
part of its investment strategy, which could make the investment strategy more costly to implement or require the Fund to change its
investment strategy. When a derivative is used for hedging, the change in value of the derivative may also not correlate specifically
with the risk of the underlying asset being hedged. Derivative prices are highly volatile and may fluctuate substantially during a short
period of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to changing supply
and demand relationships; government programs and policies; national and international political and economic events, and changes in
interest rates, inflation and deflation. Trading derivative instruments involves risks different from, or possibly greater than, the
risks associated with investing directly in securities including:</span></p><div id="xdx_C0A_gRBRTB-GDKH_zBckfhBBUH6k"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zwjJfqlRHXJ3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk. </i>Hedging is a strategy in which the Fund uses a security or derivative to seek to reduce the risks associated with other Fund
holdings. There can be no assurance that the Fund’s hedging strategy will reduce risk or that hedging transactions will be either
available or cost effective.</span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageAndVolatilityRiskMember_zrFzsfOJaEzc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
and Volatility Risk:</i> Derivative contracts ordinarily have leverage inherent in their terms. The low margin deposits normally required
in trading derivatives permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate and
substantial loss to the Fund. The use of leverage may also cause the Fund to liquidate portfolio positions when it would not be advantageous
to do so in order to satisfy its obligations or to meet margin requirements. The use of leveraged derivatives can magnify the Fund’s
potential for gain or loss and, therefore, amplify the effects of market volatility on the Fund’s share price.</span></p><div id="xdx_C09_gRBRTB-GDKH_zfMoKAmNEnwe"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_zWuZ1L2Mf5ka" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity
Risk</i>: It is possible that particular derivative investments might be difficult to purchase or sell, possibly preventing the Fund
from executing positions at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable
times or prices in order to satisfy its obligations.</span></p><div id="xdx_C0D_gRBRTB-GDKH_zoqPdLTi8ekh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zL2BOn8T7l51" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk. </i>Markets for options and options on futures may not always operate on a fair and orderly basis. At times, prices for
options and options on futures may not represent fair market value and prices may be subject to manipulation, which may be extreme under
some circumstances. The dysfunction and manipulation of volatility and options markets may make it difficult for the Fund to effectively
implement its investment strategy and achieve its objectives and could potentially lead to significant losses.</span></p><div id="xdx_C01_gRBRTB-GDKH_zSYFLBXm2uh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zhCNqEbW8LEe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk.</i> There are risks associated with the Fund’s options strategy. Generally, options may not be an effective hedge because
they may have imperfect correlation to the value of the Fund’s portfolio securities. Factors such as differences in supply and
demand for certain options may cause their returns to deviate from the Advisor’s expectations. Additionally, the underlying reference
instrument on which the option is based may have imperfect correlation to the value of the Fund’s portfolio securities. As the
buyer of a call option, the Fund risks losing the entire premium invested in the option if the underlying reference instrument does not
rise above the strike price, which means the option will expire worthless. As the buyer of a put option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not fall below the strike price, which means the option will
expire worthless. Additionally, purchased options may decline in value due to changes in the price of the underlying reference instrument,
passage of time and changes in volatility. As a seller (writer) of a put option, the Fund will lose money if the value of the underlying
reference instrument falls below the strike price. As a seller (writer) of a call option, the Fund will lose money if the value of the
underlying reference instrument rises above the strike price. The Fund’s losses are potentially large in a written put transaction
and potentially unlimited in a written call transaction. Option premiums are treated as short-term capital gains and when distributed
to shareholders, are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders
holding Fund shares in a taxable account. Because option premiums paid or received by the Fund are small in relation to the market value
of the investments underlying the options, buying and selling put and call options can be more speculative than investing directly in
securities.</span></p><div id="xdx_C09_gRBRTB-GDKH_zNpoDvvjC9Jk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C05_gRBRTB-GDKH_z1SA3jo3CAoh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, option prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes
in supply and demand relationships.</span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zU43S1XySZ73" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk. </b>The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C0F_gRBRTB-GDKH_z3j9pGejZnWf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-PLRP_zHKdlQadQqGj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund, and the ETFs the Fund invests in, are structured as ETFs and as a result are subject to special
risks, including:</span></p><div id="xdx_C0F_gRBRTB-GDKH_zkAt9ZnlHby1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0A_gRBRTB-GDKH_zeQDyVRQdqSa"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zcfpUFjfCtki">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-GDKH_zgo59bGylU27"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0C_gRBRTB-GDKH_zWPHvumcCno3"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zzajXU02nYmh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-GDKH_z0LtQeC3UwP7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0D_gRBRTB-GDKH_zJirKxSgUsVk"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z7NTpkpDatpk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C0E_gRBRTB-GDKH_zNgytxWceFj4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-GDKH_zawHNzm74PAl"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-GDKH_ztYWCzPd5Vs4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0C_gRBRTB-GDKH_zztTAedNXco9"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C07_gRBRTB-GDKH_zCMOc0C7a3Uj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0F_gRBRTB-GDKH_zrT2oQgymqKl"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C03_gRBRTB-GDKH_zweKLH891CK6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0F_gRBRTB-GDKH_zoTrp3QQvRVb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zcfpUFjfCtki">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C04_gRBRTB-PLRP_zUbgTpZtF1q"><div id="xdx_C09_gRBRTB-GDKH_zgo59bGylU27"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zzajXU02nYmh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in shares inadvisable, such as extraordinary market volatility. There can be no assurance that shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C07_gRBRTB-PLRP_zr8FJiA8oMB6"><div id="xdx_C04_gRBRTB-GDKH_z0LtQeC3UwP7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z7NTpkpDatpk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-PLRP_zYH9jNt1IOqg"><div id="xdx_C0E_gRBRTB-GDKH_zNgytxWceFj4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C03_gRBRTB-PLRP_zQ6rOmFDh76e"><div id="xdx_C01_gRBRTB-GDKH_zawHNzm74PAl"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C0B_gRBRTB-PLRP_zhtNwy60npB6"><div id="xdx_C06_gRBRTB-GDKH_ztYWCzPd5Vs4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C05_gRBRTB-PLRP_zMe9h91GaJI8"><div id="xdx_C0C_gRBRTB-GDKH_zztTAedNXco9"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C05_gRBRTB-PLRP_zyiWe8CFxdAh"><div id="xdx_C07_gRBRTB-GDKH_zCMOc0C7a3Uj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C06_gRBRTB-PLRP_zoUEWHY1YHRh"><div id="xdx_C0F_gRBRTB-GDKH_zrT2oQgymqKl"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C00_gRBRTB-PLRP_zfnBpaAkDK0h"><div id="xdx_C03_gRBRTB-GDKH_zweKLH891CK6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0E_gRBRTB-PLRP_z75KK8QWEKU5"><div id="xdx_C0F_gRBRTB-GDKH_zoTrp3QQvRVb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 1.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FundOfFundsRiskMember_zZUjB49MpWnk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fund
of Funds Risk. </b>The Fund, as a shareholder of the underlying funds, indirectly bears its proportionate share of any investment management
fees and other expenses of the underlying funds. Further due to the fees and expenses paid by the Fund, as well as small variations in
the Fund’s actual allocations to the underlying funds and any cash held in the Fund’s portfolio, the performance and income
distributions of the Fund will not be the same as the performance and income distributions of the underlying funds allocated according
to the target allocations described here.</span></p><div id="xdx_C0E_gRBRTB-GDKH_z1i3wHoHA6k3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zg2CmyQXfgI9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C07_gRBRTB-GDKH_zudQpQvcNC5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zy04JQ8VArC2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><div id="xdx_C0D_gRBRTB-GDKH_zNG3gssK38gb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zQUtla69nKLc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk. </b>The Advisor’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Advisor may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C00_gRBRTB-GDKH_zrx5yo5K1XCi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z4bOeHdeYcWh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, trading and tariff events, geopolitical conflicts, interest
rate levels, and political events may adversely affect the securities markets.</span></p><div id="xdx_C07_gRBRTB-GDKH_zEFFC7rjeUt5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidSmallCapStockRiskMember_zxns7tj9yOXd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mid/Small
Cap Stock Risk</b>. Because the smaller companies in which the Fund may invest may have unproven track records, a limited product or
service base and limited access to capital, they may be more likely to fail than larger companies.</span></p><div id="xdx_C0B_gRBRTB-GDKH_zw5Wvt6jAdbb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--NewFundRiskMember_zQ6YElYbY35b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>New
Fund Risk. </b>The Fund is a relatively new fund with limited history of operations as an ETF for investors to evaluate. If the Fund
is unable to achieve an economic size, expenses will be higher than expected and the Fund might close, which could produce adverse tax
consequences for shareholders.</span></p><div id="xdx_C0B_gRBRTB-GDKH_zp5zbydGllc8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_z1dy7C3pA1pl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Diversification
Risk</b>. The Fund is classified as a “non-diversified” fund under the 1940 Act. Accordingly, the Fund may invest a greater
portion of its assets in the securities of a single issuer than if it were a “diversified” fund. To the extent that the Fund
invests a higher percentage of its assets in the securities of a single issuer, the Fund is subject to a higher degree of risk associated
with and developments affecting that issuer than a fund that invests more widely.</span></p><div id="xdx_C0A_gRBRTB-GDKH_z2BQLoCEqw48"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstatereitRiskMember_zObWwSIWsqH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate/REIT Risk. </b>The Fund’s investments in REITs are subject to the same risks as direct investments in real estate, including
sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial resources
and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.</span></p><div id="xdx_C01_gRBRTB-GDKH_z2THckSsf1H8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zytY1TVF5RLf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk. </b>If the Fund focuses its investments within a particular Sector, it is subject to increased risk. Performance will generally
depend on the performance of the Sector, which may differ in direction and degree from that of the overall U.S. stock markets. In addition,
financial, economic, business and political developments affecting the Sector may have a greater effect on the Fund than they would if
the Fund did not focus on that Sector.</span></p><div id="xdx_C0F_gRBRTB-GDKH_zoXYVw95hPyd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zAaBpUHr9bCa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs and money market funds (“Underlying Funds”) in which the Fund invests are subject to investment advisory
and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will be higher than the
cost of investing directly in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds. Each
of the Underlying Funds is subject to its own specific risks.</span></p>
Performance:
<p id="xdx_A81_eoef--PerformanceNarrativeTextBlock_zq1jB60PnBz3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eoef--PerformanceOneYearOrLess_c20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member_zsLWCd4ruJ71">Because
the Fund is a relatively new fund and does not yet have a full calendar year of investment operations, no performance information is
presented for the Fund at this time.</span> In the future, performance information will be presented in this section of this Prospectus. Updated
performance information is available at no cost at <span style="text-decoration: underline"><span id="xdx_90A_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member_zi6BN2WOXfWi">www.dhfunds.com</span></span> or by calling <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000089262Member_zCdbpGYAozOk">1-800-594-7930</span>.</span></p>
Because
the Fund is a relatively new fund and does not yet have a full calendar year of investment operations, no performance information is
presented for the Fund at this time.
www.dhfunds.com
1-800-594-7930
Fund
Summary: Eventide High Dividend ETF
Investment
Objective:
<p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_ztSvAU01Iyx5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Eventide High Dividend ETF’s (the “High Dividend Fund” or the “Fund”)
investment objective is to seek income, income growth and long-term capital appreciation.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A82_eoef--ExpenseNarrativeTextBlock_zwWL1nBqHpu" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares
(“Fund shares” or “Shares”) of the Fund. <b>You may pay other fees, such as brokerage commissions and
other fees to financial intermediaries, which are not reflected in the table and example below.</b></span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A80_eoef--ShareholderFeesTableTextBlock_zwORnn635YV6"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zEpDDtZrrrp5" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt"></td>
<td id="xdx_493_20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_zH75fxAsVZcl" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; vertical-align: bottom; text-align: center; padding-left: 0pt"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_z6VCiNA35sj" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; vertical-align: top; width: 84%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholder
Fees <br/>
(fees paid directly from your investment)</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; vertical-align: bottom; width: 16%; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zRzJrWQ67qtd"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_z8yxaMB2U8da" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; width: 84%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</span></td>
<td id="xdx_493_20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_zxdwxDz8DZjd" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; width: 16%; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eoef--ManagementFeesOverAssets_dpn_zIa7GUamJAk6" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
Fee<sup id="xdx_F40_zHAx0OfS4tM6">(1)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.49%</span></td></tr>
<tr id="xdx_400_eoef--DistributionAndService12b1FeesOverAssets_dpn_zUxqwySe1Ole" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40D_eoef--OtherExpensesOverAssets_dpn_z3Dhzzz1G9u8" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40B_eoef--ExpensesOverAssets_dpn_zPFoI0auGC9c" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.49%</span></td></tr>
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F0B_zh8sc4l7ImJa">(1)</sup></span></td><td><span id="xdx_F17_zVfXl3s4I0ck" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
management fee is structured as a “unified fee,” from which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.0049
0.0000
0.0000
0.0049
Example:
<p id="xdx_A82_eoef--ExpenseExampleNarrativeTextBlock_zFsjK2RM9KWl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell all of your Shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A8A_eoef--ExpenseExampleWithRedemptionTableTextBlock_zERRdj7VJFo6"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zNK44y3Yi0e9" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_48C_eoef--ExpenseExampleYear01_zXrx5zQcQHwk" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_487_eoef--ExpenseExampleYear03_zmloXmqD5D8j" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>3
Years</i></span></td>
<td id="xdx_485_eoef--ExpenseExampleYear05_zu2l6McOcKu2" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>5
Years</i></span></td>
<td id="xdx_482_eoef--ExpenseExampleYear10_zQ8Owcd011Ka" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>10
Years</i></span></td></tr>
<tr id="xdx_41A_20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_ziwfxFdHFkQ7" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$50</span></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$157</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$274</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$616</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
50
157
274
616
Portfolio
Turnover:
<p id="xdx_A8F_eoef--PortfolioTurnoverTextBlock_zlgfZbZFMh1c" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">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. For the fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_909_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_z1V4Q68a4pPg">63%</span>.</span></p>
0.63
Principal
Investment Strategy:
<p id="xdx_A8D_eoef--StrategyNarrativeTextBlock_zJoFsLxikoj3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80%
of its net assets (plus the amount of any borrowings for investment purposes) in dividend-paying securities. Under normal market conditions,
the Fund seeks to provide a dividend yield greater than the average dividend yield of the equity securities in the Bloomberg US 1000
Total Return Index, measured on a gross basis. The Fund invests in companies identified by Eventide Asset Management, LLC (the “Adviser”)
as having strong fundamentals, creating value for stakeholders (customers, employees, supply chain, community, environment, society and
shareholders), and that, in the Adviser’s opinion, represent above-average long-term investment opportunities for dividend
income, dividend growth, and stock price capital appreciation. The ethical principles that the Adviser uses within its fundamental research
process to screen investments are more fully described below under “Faith-Based Screening.”</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Adviser actively manages the Fund’s portfolio using a long-only investment approach. While the Fund may invest in companies operating
in any sector, it generally invests in sectors that the Adviser believes have historically offered attractive dividends and shareholder
yields, such as energy, utilities, industrials, technology, infrastructure, and real estate sectors. From time to time, the Adviser may
invest a substantial portion of the Fund’s assets in one or more sectors that are not highly correlated with the overall stock
market in the Adviser’s judgment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund invests primarily in U.S. companies but may invest in securities of foreign companies. The
Fund’s investments in foreign securities may be made either directly or through American Depository Receipts (“ADRs”),
or through direct investment in the securities of foreign issuers listed on U.S. exchanges and denominated in U.S. dollars. Although
the Fund will invest primarily in common stocks (including ADRs), the Fund may also invest in real estate investment trusts (“REITs”),
exchange-listed preferred securities, and energy infrastructure companies (primarily midstream companies) organized as C corporations.
The Fund will invest primarily in mid- and large-capitalization companies, which the Fund collectively defines as those with market capitalizations
within the range of the Bloomberg US 1000 Value Total Return Index ($1.3 billion to $2.5 trillion as of June 30, 2026). In normal market
conditions, the Adviser expects that the Fund will hold less than 10% of its total assets in cash and cash equivalents such as money
market funds.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Stock
selection is driven by the Adviser’s fundamental research and faith-based principles. The Adviser seeks to invest in attractively
valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation
potential. The Adviser utilizes a fundamental “bottom-up” analysis to evaluate investments for inclusion in the Fund’s
portfolio. This analysis includes financial analysis for determining financial strength and dividend sustainability, qualitative
analysis for management assessment, industry positioning, and stakeholder value creation, and valuation analysis to determine risk adjusted
return potential with dividends. The portfolio construction process includes attention to diversification and risk management with
an overall positioning consistent with specific macro and thematic views of the portfolio manager and investment team. Positions
continue to be monitored for consistency with investment case, price targets, and changes in company fundamentals, including faith-based
criteria.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Faith-Based
Screening.</b> The Adviser uses its proprietary screening methodology to analyze all potential investments for the company’s ability
to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below.
The values assessed in the Adviser’s screening process are inspired by the Christian faith and rooted in a biblical worldview. While
few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations
for the companies in which the Fund invests. The Adviser uses its screening processes in connection with other fundamental research processes
to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless
the Adviser believes that the faith-based screens are met. If the Adviser’s research identifies events and/or business changes suggesting
that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company’s securities while the Adviser
performs additional research, including possible direct engagement with the company to assess practices. The Adviser’s faith-based
screening process for potential investments does not apply relative weights between values-based factors and financial factors. There
is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles
which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that
reflect the following values:</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or when the Adviser
believes the underlying company is no longer consistent with the Adviser’s faith-based values.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund concentrates its investments in the securities of issuers engaged primarily in energy and/or utilities-related industries. The Fund
considers an issuer to be engaged primarily in energy or utilities-related industries if such companies derive more than 50% of their
revenue from activities within the energy and utilities sectors, as applicable.</span></p>
<p id="xdx_A8F_eoef--RiskTextBlock_gRBRTB-EY_zD1FUlaOJlfj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary, and you could lose money on your investment in the Fund and those losses could
be significant. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRsRiskMember_zdnnJF5xKnlk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ADRs
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced
in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price
of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate
of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.</span></p><p id="xdx_A9B_zKcHeotaYQV6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zAuMUdZXWKS7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zH4ZSJbam5da" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendYieldRiskMember_z2xktxc00CGi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Dividend
Yield Risk.</b> While the Fund may hold securities of companies that have historically paid a dividend, those
companies may reduce or discontinue their dividends, thus reducing the yield of the Fund. Lower priced securities in the Fund may be
more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergySectorRiskMember_gRBRTB-UD_zbNNCjHaxGVf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Energy
Sector Risk.</b> Companies operating in the energy sector may be adversely affected by changes in worldwide energy prices, exploration
and production spending. In addition, changes in government regulation, world events and political and economic conditions can affect
these companies. These companies also are at risk of civil liability from accidents resulting in injury, loss of life or property, pollution
or other environmental damage claims and risk of loss from terrorism, war and natural disasters. Commodity price volatility, changes
in exchange rates, imposition of import controls, increased competition, depletion of resources, development of alternative energy sources,
technological developments, geopolitical conflict and related economic sanctions and labor relations also could affect companies in this
sector.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergyEquipmentAndServicesIndustryRiskMember_zt8HvSTx1uTi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Energy
Equipment and Services Industry Risk.</b> Companies in the energy equipment and services industry are subject to many risks that can
negatively impact the revenues and viability of companies in this industry. These risks include, but are not limited to, commodity price
volatility risk, supply and demand risk, reserve and depletion risk, operations risk, regulatory risk, environmental risk, terrorism
risk and the risk of natural disasters.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OilGasAndConsumableFuelsIndustryRiskMember_zaafIPQZ7CEh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Oil,
Gas and Consumable Fuels Industry Risk.</b> Changes in energy costs, exploration, and production worldwide, including the global transition
to sustainable energy, may adversely affect the profitability of companies in the oil, gas and consumable fuels industry. These companies
may also be affected by world events in the regions in which they operate (e.g., expropriation, nationalization, confiscation of assets
and property or the imposition of restrictions on foreign investments and repatriation of capital, military coups, social unrest, violence
or labor unrest).</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zicFbFaYkiZ3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_gRBRTB-GHR_zrAC1rLnhSu7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><p id="xdx_A9C_zpDMvE4ACul2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related-activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the US government or
any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities in
this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-QLLF_zap0BeWFusYf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zoVDS13wHOy5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zEkYLHy3CK7i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zFvxl3AnvPI7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p id="xdx_A9C_zPIB5WXzQ4m5" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zHHbXbeFCjJ2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Foreign
Investment Risk.</b> Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). The risks of investing in foreign securities are typically increased by investing in emerging
market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial
currency conversion costs.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z84Suctc0al1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zvP7u4JtGGmd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> A fund that concentrates its investments in an industry or group of industries is more vulnerable to adverse
market, economic, regulatory, political or other developments affecting such industry or group of industries than a fund that invests
its assets more broadly.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zyvqGYtdWBY" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zoufSJ5fx48d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z3RP3mLm8Evk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_zhxVh6Tql8F5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zIb6Ohi4gVEa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value and
potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p id="xdx_A9A_zqc9I7suj9Aa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z8vm9NgahhJa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zGxtADZvjLtd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk.</b> To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zoqRaDTa7iW9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Preferred
Stock Risk.</b> Typically, a rise in interest rates causes a decline in the value of preferred stocks. Preferred
stocks are also subject to credit and default risk, which is the possibility that an issuer of preferred stock will fail to make its
dividend payment. Issuers of preferred stocks may redeem their securities prior to maturity at a price below their current market value
which would negatively impact the investment return of such preferred stocks.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSectorRiskMember_zAKgoX4yP7n2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Sector Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic
and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zgnu9CvuJVmj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zo0HwAQTvMPl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Sector
Risk.</b> The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may
occur that significantly affect the sector. This may cause the Fund’s NAV to fluctuate more than that of a fund that does not focus in
a particular sector.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SecurityRiskMember_zec7841tUj1k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Security
Risk.</b> The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s
or an Underlying Fund’s portfolio.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_z67HjEKf1n4d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p><p id="xdx_A9B_zyIj9st71Gvd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--UtilitiesSectorRiskMember_gRBRTB-QDN_zIpNXzBOOqMc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Utilities
Sector Risk.</b> Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations,
including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in
periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated
with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition;
and potential losses resulting from a developing deregulatory environment.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MultiUtilitiesIndustryRiskMember_z7WfVRJqBrBg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Multi-Utilities
Industry Risk. </b>The multi-utilities industry includes utility companies engaged in one or more of electric utility, gas utility and/or
water utility core operations as well as other diversified activities. The prices of securities in the multi-utilities industry may fluctuate
significantly due to economic conditions generally affecting utilities companies, supply and demand, competitive pressures due to deregulation
in the utilities industries, increased sensitivity to the cost of energy production, and environmental factors such as conservation of
natural resources or pollution control. Legislative or regulatory changes and increased government supervision also may affect companies
in the multi-utilities industry.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndependentPowerAndRenewableElectricityProducersIndustryRiskMember_zuxxgWYNhBJ5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Independent
Power and Renewable Electricity Producers Industry Risk.</b> Companies in the independent power and renewable electricity producers industry
may be highly dependent upon contracts with government entities and related subsidies, and the successful development of new and proprietary
technologies. In addition, seasonal weather conditions, fluctuations in the supply of and demand for energy products, changes in energy
prices, and international political events may cause fluctuations in the performance of independent power and renewable electricity producers
companies and the prices of their securities.</span></td></tr></table></div><p id="xdx_A92_zujcLXJo3Bc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.” </i></span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRsRiskMember_zdnnJF5xKnlk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ADRs
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced
in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price
of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate
of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.</span></p>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zAuMUdZXWKS7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C07_gRBRTB-EY_zlZ8kjnSXtni"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zH4ZSJbam5da" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><div id="xdx_C00_gRBRTB-EY_zpS34s4rVmq8"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendYieldRiskMember_z2xktxc00CGi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Dividend
Yield Risk.</b> While the Fund may hold securities of companies that have historically paid a dividend, those
companies may reduce or discontinue their dividends, thus reducing the yield of the Fund. Lower priced securities in the Fund may be
more susceptible to these risks. Past dividend payments are not a guarantee of future dividend payments.</span></p><div id="xdx_C09_gRBRTB-EY_ztkSVqe96DHd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergySectorRiskMember_gRBRTB-UD_zbNNCjHaxGVf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Energy
Sector Risk.</b> Companies operating in the energy sector may be adversely affected by changes in worldwide energy prices, exploration
and production spending. In addition, changes in government regulation, world events and political and economic conditions can affect
these companies. These companies also are at risk of civil liability from accidents resulting in injury, loss of life or property, pollution
or other environmental damage claims and risk of loss from terrorism, war and natural disasters. Commodity price volatility, changes
in exchange rates, imposition of import controls, increased competition, depletion of resources, development of alternative energy sources,
technological developments, geopolitical conflict and related economic sanctions and labor relations also could affect companies in this
sector.</span></p><div id="xdx_C05_gRBRTB-EY_znjvg7kdFQGd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C06_gRBRTB-EY_zy8cRiQKceeb"><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergyEquipmentAndServicesIndustryRiskMember_zt8HvSTx1uTi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Energy
Equipment and Services Industry Risk.</b> Companies in the energy equipment and services industry are subject to many risks that can
negatively impact the revenues and viability of companies in this industry. These risks include, but are not limited to, commodity price
volatility risk, supply and demand risk, reserve and depletion risk, operations risk, regulatory risk, environmental risk, terrorism
risk and the risk of natural disasters.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-EY_zW1iOMMgbF55"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-EY_zhpN65UKxQs"><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OilGasAndConsumableFuelsIndustryRiskMember_zaafIPQZ7CEh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Oil,
Gas and Consumable Fuels Industry Risk.</b> Changes in energy costs, exploration, and production worldwide, including the global transition
to sustainable energy, may adversely affect the profitability of companies in the oil, gas and consumable fuels industry. These companies
may also be affected by world events in the regions in which they operate (e.g., expropriation, nationalization, confiscation of assets
and property or the imposition of restrictions on foreign investments and repatriation of capital, military coups, social unrest, violence
or labor unrest).</span></td></tr></table></div></div>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergyEquipmentAndServicesIndustryRiskMember_zt8HvSTx1uTi">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Energy
Equipment and Services Industry Risk.</b> Companies in the energy equipment and services industry are subject to many risks that can
negatively impact the revenues and viability of companies in this industry. These risks include, but are not limited to, commodity price
volatility risk, supply and demand risk, reserve and depletion risk, operations risk, regulatory risk, environmental risk, terrorism
risk and the risk of natural disasters.</span></td></tr></table></div><div id="xdx_C0A_gRBRTB-UD_zo9Vy1A6hjdj"><div id="xdx_C09_gRBRTB-EY_zW1iOMMgbF55"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--OilGasAndConsumableFuelsIndustryRiskMember_zaafIPQZ7CEh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Oil,
Gas and Consumable Fuels Industry Risk.</b> Changes in energy costs, exploration, and production worldwide, including the global transition
to sustainable energy, may adversely affect the profitability of companies in the oil, gas and consumable fuels industry. These companies
may also be affected by world events in the regions in which they operate (e.g., expropriation, nationalization, confiscation of assets
and property or the imposition of restrictions on foreign investments and repatriation of capital, military coups, social unrest, violence
or labor unrest).</span></td></tr></table></div><div id="xdx_C07_gRBRTB-EY_zcqVjqMDeSi9"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zicFbFaYkiZ3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C0C_gRBRTB-EY_zpQKIDTYrQM7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_gRBRTB-GHR_zrAC1rLnhSu7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><div id="xdx_C08_gRBRTB-EY_z5wYnGeF09Wd"><p id="xdx_A9C_zpDMvE4ACul2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p></div><div id="xdx_C07_gRBRTB-EY_zzg1kAMsLON"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related-activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the US government or
any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities in
this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-QLLF_zap0BeWFusYf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C0D_gRBRTB-EY_zw0k3GfHLood"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C02_gRBRTB-EY_zdCk56d3n1ug"><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zoVDS13wHOy5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C05_gRBRTB-EY_ztRPFBFayXPj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-EY_zpwbP7WRynvg"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zEkYLHy3CK7i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C05_gRBRTB-EY_zaF7FylrmzZ2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C02_gRBRTB-EY_z5UxARtVxhM6"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zFvxl3AnvPI7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C01_gRBRTB-EY_zVP7La2zGVA7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-EY_zlzoHv9ZVsph"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-EY_zLq2GMIIgiFj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C05_gRBRTB-EY_zMLRCuzQRKik"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-EY_zfHZa2GwrIEg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C03_gRBRTB-EY_zWzpBwmWaRsf"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C0C_gRBRTB-EY_zwv6ox1mubo4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-EY_zJUkxOAJ4oUj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zoVDS13wHOy5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-QLLF_zJ5zY7Oq1om8"><div id="xdx_C05_gRBRTB-EY_ztRPFBFayXPj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zEkYLHy3CK7i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-QLLF_zn2dB3egxoPl"><div id="xdx_C05_gRBRTB-EY_zaF7FylrmzZ2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zFvxl3AnvPI7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-QLLF_z6t98IEfHvyj"><div id="xdx_C01_gRBRTB-EY_zVP7La2zGVA7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0B_gRBRTB-QLLF_z9TbI5SgnS4a"><div id="xdx_C06_gRBRTB-EY_zlzoHv9ZVsph"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C0B_gRBRTB-QLLF_zNFpk6EhFdTb"><div id="xdx_C04_gRBRTB-EY_zLq2GMIIgiFj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C03_gRBRTB-QLLF_zx3mvPexuZe1"><div id="xdx_C05_gRBRTB-EY_zMLRCuzQRKik"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C0D_gRBRTB-QLLF_zyRvxSTpkFO9"><div id="xdx_C04_gRBRTB-EY_zfHZa2GwrIEg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0B_gRBRTB-QLLF_z4Jv6ztlBBjb"><div id="xdx_C03_gRBRTB-EY_zWzpBwmWaRsf"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C0F_gRBRTB-QLLF_zaUsL2NRvrX6"><div id="xdx_C0C_gRBRTB-EY_zwv6ox1mubo4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0F_gRBRTB-QLLF_zOz1wWtVca34"><div id="xdx_C06_gRBRTB-EY_zJUkxOAJ4oUj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zHHbXbeFCjJ2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Foreign
Investment Risk.</b> Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). The risks of investing in foreign securities are typically increased by investing in emerging
market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial
currency conversion costs.</span></p><div id="xdx_C0D_gRBRTB-EY_zJPVXacpbQtb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z84Suctc0al1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><div id="xdx_C0C_gRBRTB-EY_zLeKeFtvyts1"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zvP7u4JtGGmd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> A fund that concentrates its investments in an industry or group of industries is more vulnerable to adverse
market, economic, regulatory, political or other developments affecting such industry or group of industries than a fund that invests
its assets more broadly.</span></p><div id="xdx_C02_gRBRTB-EY_zoAfrsugDDsh"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zyvqGYtdWBY" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C0C_gRBRTB-EY_znW7cEMXWZ61"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zoufSJ5fx48d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><div id="xdx_C0D_gRBRTB-EY_zQM10K4CfVkg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z3RP3mLm8Evk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><div id="xdx_C01_gRBRTB-EY_zyVU8ZJ9OBbd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_zhxVh6Tql8F5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><div id="xdx_C09_gRBRTB-EY_zWlJVN52HgF5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zIb6Ohi4gVEa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value and
potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z8vm9NgahhJa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><div id="xdx_C0B_gRBRTB-EY_zfn0qNKZdbMb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zGxtADZvjLtd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk.</b> To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><div id="xdx_C05_gRBRTB-EY_z3yXmh2WwwVf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zoqRaDTa7iW9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Preferred
Stock Risk.</b> Typically, a rise in interest rates causes a decline in the value of preferred stocks. Preferred
stocks are also subject to credit and default risk, which is the possibility that an issuer of preferred stock will fail to make its
dividend payment. Issuers of preferred stocks may redeem their securities prior to maturity at a price below their current market value
which would negatively impact the investment return of such preferred stocks.</span></p><div id="xdx_C0A_gRBRTB-EY_zm29zpZ7Yai"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateSectorRiskMember_zAKgoX4yP7n2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Sector Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic
and political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C0A_gRBRTB-EY_zMIq8C5ZhVSe"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zgnu9CvuJVmj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><div id="xdx_C09_gRBRTB-EY_zZGBAdJwX2Cc"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zo0HwAQTvMPl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Sector
Risk.</b> The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may
occur that significantly affect the sector. This may cause the Fund’s NAV to fluctuate more than that of a fund that does not focus in
a particular sector.</span></p><div id="xdx_C0F_gRBRTB-EY_z2uHr2Zshu78"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SecurityRiskMember_zec7841tUj1k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Security
Risk.</b> The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s
or an Underlying Fund’s portfolio.</span></p><div id="xdx_C06_gRBRTB-EY_zdZYvVkkAmn6"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_z67HjEKf1n4d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--UtilitiesSectorRiskMember_gRBRTB-QDN_zIpNXzBOOqMc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Utilities
Sector Risk.</b> Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations,
including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in
periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated
with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition;
and potential losses resulting from a developing deregulatory environment.</span></p><div id="xdx_C06_gRBRTB-EY_znGgDZ4iLcj4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0D_gRBRTB-EY_zPLQCvcjltIi"><div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MultiUtilitiesIndustryRiskMember_z7WfVRJqBrBg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Multi-Utilities
Industry Risk. </b>The multi-utilities industry includes utility companies engaged in one or more of electric utility, gas utility and/or
water utility core operations as well as other diversified activities. The prices of securities in the multi-utilities industry may fluctuate
significantly due to economic conditions generally affecting utilities companies, supply and demand, competitive pressures due to deregulation
in the utilities industries, increased sensitivity to the cost of energy production, and environmental factors such as conservation of
natural resources or pollution control. Legislative or regulatory changes and increased government supervision also may affect companies
in the multi-utilities industry.</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-EY_zSNeuifhf0o5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0F_gRBRTB-EY_zjna5GVKMGsi"><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndependentPowerAndRenewableElectricityProducersIndustryRiskMember_zuxxgWYNhBJ5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Independent
Power and Renewable Electricity Producers Industry Risk.</b> Companies in the independent power and renewable electricity producers industry
may be highly dependent upon contracts with government entities and related subsidies, and the successful development of new and proprietary
technologies. In addition, seasonal weather conditions, fluctuations in the supply of and demand for energy products, changes in energy
prices, and international political events may cause fluctuations in the performance of independent power and renewable electricity producers
companies and the prices of their securities.</span></td></tr></table></div></div>
<div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MultiUtilitiesIndustryRiskMember_z7WfVRJqBrBg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Multi-Utilities
Industry Risk. </b>The multi-utilities industry includes utility companies engaged in one or more of electric utility, gas utility and/or
water utility core operations as well as other diversified activities. The prices of securities in the multi-utilities industry may fluctuate
significantly due to economic conditions generally affecting utilities companies, supply and demand, competitive pressures due to deregulation
in the utilities industries, increased sensitivity to the cost of energy production, and environmental factors such as conservation of
natural resources or pollution control. Legislative or regulatory changes and increased government supervision also may affect companies
in the multi-utilities industry.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-QDN_zRKGaeCcSRT6"><div id="xdx_C0B_gRBRTB-EY_zSNeuifhf0o5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndependentPowerAndRenewableElectricityProducersIndustryRiskMember_zuxxgWYNhBJ5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Independent
Power and Renewable Electricity Producers Industry Risk.</b> Companies in the independent power and renewable electricity producers industry
may be highly dependent upon contracts with government entities and related subsidies, and the successful development of new and proprietary
technologies. In addition, seasonal weather conditions, fluctuations in the supply of and demand for energy products, changes in energy
prices, and international political events may cause fluctuations in the performance of independent power and renewable electricity producers
companies and the prices of their securities.</span></td></tr></table></div>
Performance:
<p id="xdx_A8A_eoef--PerformanceNarrativeTextBlock_zvMkKmBG1kH2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b><span id="xdx_905_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_z7tZ2Gsq0E49">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its Shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index, as well as an additional index (the “Strategy Benchmark”) that the Adviser believes is more representative of
the Fund’s investment universe.</span> <span id="xdx_90A_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zUtBYWWKCLIh">How the Fund has performed in the past (before and after taxes) is not necessarily an indication
of how it will perform in the future. </span>Updated performance information is available at no cost at <span style="text-decoration: underline"><span id="xdx_906_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zrhrKSaIS585">www.EventideETFs.com</span></span> or by calling
<span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zUC91jfKwVSd">1-877-771-3836</span>.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its Shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index, as well as an additional index (the “Strategy Benchmark”) that the Adviser believes is more representative of
the Fund’s investment universe.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication
of how it will perform in the future.
www.EventideETFs.com
1-877-771-3836
Annual
Total Returns
Eventide
High Dividend Fund Total Returns for the Years Ended December 31
<div id="xdx_A86_eoef--BarChartTableTextBlock_zfAuIRYIru6f"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zVCxXTJKZrui" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 50%"> </td>
<td id="xdx_49F_20250101__20251231_zZF3wys2tH8h" style="text-align: center; width: 50%">2025</td></tr>
<tr id="xdx_406_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_zyxJ3tPQGzZ9" style="vertical-align: top; text-align: center">
<td> </td>
<td>10.22%</td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><img alt="(BAR GRAPH)" src="st007_v1.jpg"/></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.1022
<p id="xdx_A82_eoef--BarChartClosingTextBlock_zJunqCv6Jsgc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_907_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_z8VkWOqFsRr9">the highest return for a quarter</span> was <span id="xdx_903_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zfFLWznSmuuj">5.80%</span> (quarter ended <span id="xdx_904_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zLTLBnRa9sc">September 30, 2025</span>), and <span id="xdx_90B_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zN7MYym0Pt09">the lowest return
for a quarter</span> was <span id="xdx_90F_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zgv6UxVHRRsg">0.01%</span> (quarter ended <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_z4uFOEQG1XW2">December 31, 2025</span>). </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_900_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zoRkY6haNqp5">The
Fund’s year-to-date return</span> as of <span id="xdx_903_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zIURLMQcUfq2">June 30, 2026</span> was <span id="xdx_90B_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zo64cdJFYFs6">24.99%</span>.</span></p>
the highest return for a quarter
0.0580
2025-09-30
the lowest return
for a quarter
0.0001
2025-12-31
The
Fund’s year-to-date return
2026-06-30
0.2499
Average
Annual Total Returns (periods ended December 31, 2025)
<div id="xdx_A81_eoef--PerformanceTableTextBlock_zSK5QE9rcFY7"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_z8UELgXQ4ua6" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; white-space: nowrap; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; width: 70%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td id="xdx_491_20250101__20251231_z1OleUHOEMdd" style="border-bottom: Black 1pt solid; white-space: nowrap; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_497_20240930__20251231_zRWIrCpM7Kdh" style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; white-space: nowrap; vertical-align: bottom; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>Since
Inception</i></span><span style="color: black; font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i><br/>
(<span id="xdx_907_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_zH9wi1h3ddKe">September 30, 2024</span>)</i></span></td></tr>
<tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_zYWA3TgnpfWe" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member_zLJF3SiYeVo">Return
Before Taxes</span></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">10.22%</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.22%</span></td></tr>
<tr id="xdx_40A_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zGTdrCbK6Hdh" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">9.51%</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.59%</span></td></tr>
<tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000086526Member__oef--ClassAxis__custom--C000252108Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zdVQmtTgGuTh" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.39%</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.40%</span></td></tr>
<tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000086526Member__oef--PerformanceMeasureAxis__custom--BloombergUS3000EqualWeightTotalReturnIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zROR7lHqaFal" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Bloomberg
US 3000 Equal Weight Total Return Index (<span id="xdx_909_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zmyEM7f73HQk">reflects no deduction for fees, expenses or taxes</span>) </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.09%</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.85%</span></td></tr>
<tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000086526Member__oef--PerformanceMeasureAxis__custom--BloombergUS1000ValueTotalReturnIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zlr0h4e77dUg" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; text-indent: -0.125in; padding-left: 0.125in; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Bloomberg
US 1000 Value Total Return Index (<span id="xdx_902_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_ztElgB9mytVh">reflects no deduction for fees, expenses or taxes</span>) (the “Strategy Benchmark”)</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">16.53%</span></td>
<td style="border-bottom: Black 1pt solid; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.15%</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
2024-09-30
Return
Before Taxes
0.1022
0.0722
0.0951
0.0659
0.0639
0.0540
reflects no deduction for fees, expenses or taxes
0.1309
0.1285
reflects no deduction for fees, expenses or taxes
0.1653
0.1115
<p id="xdx_A8F_eoef--PerformanceTableClosingTextBlock_zcAanEFCpJ7d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--PerformanceTableUsesHighestFederalRate_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zw87Eg7cKKHg">After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.</span> <span id="xdx_90C_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260827__20260827__dei--LegalEntityAxis__custom--S000086526Member_zq1gzTHfRJxk">Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to Shares held by non-taxable entities.</span></span></p>
After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to Shares held by non-taxable entities.
Fund
Summary: Eventide International ETF
Investment
Objective:
<p id="xdx_A8F_eoef--ObjectivePrimaryTextBlock_zMnOjYvKWlN8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Eventide International ETF’s (the “International Fund” or the “Fund”)
investment objective is to seek long-term capital appreciation.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A87_eoef--ExpenseNarrativeTextBlock_zwBmDUeiO4d" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares
of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not
reflected in the table and example below.</b></span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zfwtlBdCpOY7"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A52_dU_zinZ857Sq0N" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt"></td>
<td id="xdx_492_20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member__oef--ClassAxis__custom--C000265401Member_zSGBII2p34R2" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; vertical-align: bottom; text-align: center; padding-left: 0pt"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_zankJGrbsdga" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; width: 85%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholder
Fees <br/>
(fees paid directly from your investment)</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; vertical-align: bottom; width: 15%; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</span></td></tr>
</table>
<p style="margin: 0"> </p>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_zYiNcsMT1Uck"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zYjCYvSbwind" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</span></td>
<td id="xdx_492_20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member__oef--ClassAxis__custom--C000265401Member_ziPtTJB1pUH5" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_400_eoef--ManagementFeesOverAssets_dpn_zHzcDojA5kC1" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
Fee<sup id="xdx_F48_zNQqniGUjwVg">(1)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.59%</span></td></tr>
<tr id="xdx_407_eoef--DistributionAndService12b1FeesOverAssets_dpn_zu1IGQEBzDt5" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_401_eoef--OtherExpensesOverAssets_dpn_zA13SUiNF9Sk" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other
Expenses<sup id="xdx_F49_zArBU5yOfa7c">(2)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_406_eoef--ExpensesOverAssets_dpn_zOpKSIOYbtRe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.59%</span></td></tr>
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F03_zYq3CGXnkO22">(1)</sup></span></td><td><span id="xdx_F1D_zq5TnUgU1cvh" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
management fee is structured as a “unified fee,” from which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F09_zVrYF50yG7f8">(2)</sup></span></td><td><span id="xdx_F12_z7HoDFdIGMw9" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90C_eoef--OtherExpensesNewFundBasedOnEstimates_c20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member_zD2OEn7JAfxk">Estimated
for the current fiscal year.</span></span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.0059
0.0000
0.0000
0.0059
Estimated
for the current fiscal year.
Example:
<p id="xdx_A8C_eoef--ExpenseExampleNarrativeTextBlock_zAjvj8jRubH9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell all of your Shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A8B_eoef--ExpenseExampleWithRedemptionTableTextBlock_z9gdGgSwW2d1"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zgNwwb796lif" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_480_eoef--ExpenseExampleYear01_zILTZetJCsG7" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_48F_eoef--ExpenseExampleYear03_zTtahs2cWzTc" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>3
Years</i></span></td>
<td id="xdx_483_eoef--ExpenseExampleYear05_zsMT7KI98Du7" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>5
Years</i></span></td>
<td id="xdx_48C_eoef--ExpenseExampleYear10_z9Fn5tObh2w6" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>10
Years</i></span></td></tr>
<tr id="xdx_41A_20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member__oef--ClassAxis__custom--C000265401Member_zVneFVVck8Ea" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$60</span></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$189</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$329</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$738</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
60
189
329
738
Portfolio
Turnover:
<p id="xdx_A8B_eoef--PortfolioTurnoverTextBlock_zUE14MA4tze2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">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. For the fiscal period from December 16, 2025 (commencement of operations) to April 30, 2026, the Fund’s portfolio turnover
rate was <span id="xdx_90B_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member_zGTw7jpsAOC">10%</span>.</span></p>
0.10
Principal
Investment Strategy:
<p id="xdx_A8C_eoef--StrategyNarrativeTextBlock_zeYf2NKMIdnj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Fund seeks to achieve its investment objective by investing primarily in the equity securities of companies
domiciled outside of the United States, (“Non-U.S. Companies”), identified by Eventide Asset Management, LLC, the Fund’s
investment adviser (the “Adviser” ), as creating value for stakeholders (customers, employees, supply chain, community, environment,
and society) using the Adviser’s faith-based screening criteria as more fully described below under “Faith-Based Screening.”
The Adviser actively manages the Fund using a long-only investment approach, and seeks to achieve its objective while generating performance
that is similar to the performance of the Bloomberg World ex US Large & Mid Cap Total Return Index (the “Strategy Benchmark”)
before Fund fees and expenses. The Strategy Benchmark is a float market-cap-weighted equity benchmark that covers the top 85% of market
capitalization of the measured market. The Fund is not an index fund and the Adviser is not required to purchase any specific securities
or amount of securities included in the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Under
normal market conditions, the Fund invests primarily in the equity securities of Non-U.S. Companies that have an average market capitalization
that typically falls within the range of companies included in the Strategy Benchmark. The market capitalization range of companies within
the Fund’s Strategy Benchmark is $46.2 million to $1.96 trillion as of June 30, 2026. The equity securities that the Fund may invest
in include common stock traded on U.S. and foreign exchanges, American Depository Receipts (“ADRs”), and Global Depository
Receipts (“GDRs”). The Fund is not required to allocate its investments in set percentages in particular countries; however,
the Fund expects to be invested in companies from at least three different countries outside the U.S., including emerging market countries,
at any given time. The Fund may increase or decrease exposures to countries, or concentrate in certain sectors, to the extent necessary
to reduce active risk compared with its Strategy Benchmark. The Fund may not invest more than 25% of its total assets in a particular
industry or group of industries, except that the Fund may concentrate 25% to 35% of its total assets in a particular industry or group
of industries to the extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Stock
selection is supported by the Adviser’s fundamental research, including the faith-based screening criteria described below. The
Adviser effects portfolio changes for the Fund on an ongoing basis as it deems necessary and appropriate, and may consider overall market
conditions and trading volumes when making investment decisions. The Fund will seek to maintain at least 50 issuers in its portfolio
in normal market conditions. The Adviser monitors the portfolio and uses research and quantitative modeling and risk tools to reasonably
adjust the active weight of portfolio securities in order to improve the Fund’s ability to meet its investment objective and reduce
active risk compared with its Strategy Benchmark. While actively managing the portfolio, the Adviser will utilize quantitative tools
as an input to the management of position sizes on a forward-looking basis, including to help mitigate the impact of individual sectors,
industries, and stylistic factors (e.g., quantitative factors such as growth, momentum, quality and value) on active risk and the Fund’s
ability to perform in a manner that is similar to the performance of the Strategy Benchmark before Fund fees and expenses.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Faith-Based
Screening</b>. The Adviser uses its proprietary screening methodology to analyze all potential investments for the company’s ability
to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below.
The values assessed in the Adviser’s screening process are inspired by the Christian faith and rooted in a biblical worldview. While
few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations
for the companies in which the Fund invests. The Adviser uses its screening processes in connection with other fundamental research processes
to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless
the Adviser believes that the faith-based screens are met. If the Adviser’s research identifies events and/or business changes suggesting
that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company’s securities while the Adviser
performs additional research, including possible direct engagement with the company to assess practices. The Adviser’s faith-based
screening process for potential investments does not apply relative weights between values-based factors and financial factors. There
is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles
which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that
reflect the following values:</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or serve the Fund’s
principal investment strategy to generate performance that is similar to the performance of the Strategy Benchmark before Fund fees and
expenses, or when the Adviser believes the underlying company is no longer consistent with the Adviser’s faith-based values.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_gRBRTB-PV_z2iY0rO6JuDf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary, and you could lose money on your investment in the Fund and those losses could
be significant. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRsRiskMember_zay7oPhgzsz5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ADRs
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced
in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price
of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate
of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zsw94xUhV373" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p id="xdx_A9A_zSvSdCZ42zu9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--CurrencyRiskMember_zKjzuxmS2npg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Currency
Risk.</b> If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk
that those currencies will decline in value relative to the U.S. dollar. As a result, the Fund’s investments in foreign currency-denominated
securities may reduce the Fund’s returns.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketRiskMember_zXu2ZMfeMHK5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Emerging
Market Risk.</b> Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging markets usually are subject to greater market volatility, political, social and economic instability, uncertainty regarding
the existence of trading markets, and more governmental limitations on foreign investment than are more developed markets. Emerging market
economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to
default. Emerging market securities also tend to be less liquid, and the prices of such securities tend to be more volatile than the
securities of issuers located in developed markets. Investments in emerging markets securities may be subject to additional transaction
costs, delays in settlement procedures, unexpected market closures, and lack of timely information.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zLEinRG8afMk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zXhzhFkm9PG1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ARWHW_z5urKaWX6klj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zDNAPqxXnLB9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p id="xdx_A9A_zzTeX36tO3Lb" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zCvnU6GW6aE5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z7zcRzbhlubf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zTaE7y6xMIEi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Financial
Sector Risk<i>. </i></b>Performance of companies in the financial sector may be adversely impacted by many factors, including, among
others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in
credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or
recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zNlVNlE8EQfi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Foreign
Investment Risk.</b> Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). The risks of investing in foreign securities are typically increased by investing in emerging
market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial
currency conversion costs.</span></p><p id="xdx_A95_z7qIBEN7L7m8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z1dB0q2btVOa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zwBUdYZaWgyj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zOu8bbToq7eb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zkNjq7bP01na" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z1iidcZjUsGg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_zdWTdMORjai9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zkaVpKJ3R5q2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zoSjJxmPm41h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, exchange rates, trading and tariff events and political events may
adversely affect the securities markets.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zvpJD0406fJ1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk.</b> To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><p id="xdx_A9A_znkTzQ5zz3Vf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_zYDBLZ1s8Nla" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p><p id="xdx_A97_zwFzQ6a1vJ82" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.” </i></span></p>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRsRiskMember_zay7oPhgzsz5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ADRs
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced
in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price
of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate
of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.</span></p><div id="xdx_C0D_gRBRTB-PV_z0cA8ApHE9Mf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zsw94xUhV373" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--CurrencyRiskMember_zKjzuxmS2npg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Currency
Risk.</b> If the Fund invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject to the risk
that those currencies will decline in value relative to the U.S. dollar. As a result, the Fund’s investments in foreign currency-denominated
securities may reduce the Fund’s returns.</span></p><div id="xdx_C0A_gRBRTB-PV_zHzgseXsgnma"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketRiskMember_zXu2ZMfeMHK5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Emerging
Market Risk.</b> Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging markets usually are subject to greater market volatility, political, social and economic instability, uncertainty regarding
the existence of trading markets, and more governmental limitations on foreign investment than are more developed markets. Emerging market
economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to
default. Emerging market securities also tend to be less liquid, and the prices of such securities tend to be more volatile than the
securities of issuers located in developed markets. Investments in emerging markets securities may be subject to additional transaction
costs, delays in settlement procedures, unexpected market closures, and lack of timely information.</span></p><div id="xdx_C05_gRBRTB-PV_zJzRvSBeATqi"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zLEinRG8afMk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C0D_gRBRTB-PV_zYP0f1plCAii"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zXhzhFkm9PG1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><div id="xdx_C03_gRBRTB-PV_zhdlHUJZVp81"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0B_gRBRTB-PV_zfYTIWN5awRb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p></div>
<div id="xdx_C04_gRBRTB-PV_zpblFbU8FRz3"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ARWHW_z5urKaWX6klj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C0B_gRBRTB-PV_zPfElhbUyhpd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0F_gRBRTB-PV_zFrTlrzkzN5k"><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zDNAPqxXnLB9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C03_gRBRTB-PV_zYXuSOuoXP43"><p id="xdx_A9A_zzTeX36tO3Lb" style="margin-top: 0; margin-bottom: 0"> </p></div><div id="xdx_C0F_gRBRTB-PV_ziCLsolSPx4"><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zCvnU6GW6aE5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-PV_zhFCcthl3rD1"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-PV_zdaCB8Gti5vc"><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z7zcRzbhlubf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C03_gRBRTB-PV_zoKrZlTfW1q8"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C00_gRBRTB-PV_zRi7mDNcvhW"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-PV_zAtUu4z0xAeg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C03_gRBRTB-PV_zGJWH7AJ3RE"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-PV_zYAvEf0nbnPi"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C09_gRBRTB-PV_zEKy42bn8htb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C05_gRBRTB-PV_z7b0OKzDF471"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C09_gRBRTB-PV_zXjIqAkUnCqi"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zDNAPqxXnLB9">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zCvnU6GW6aE5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-ARWHW_zbFhkv24Bm94"><div id="xdx_C06_gRBRTB-PV_zhFCcthl3rD1"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z7zcRzbhlubf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-ARWHW_zsMWKzF7zsv2"><div id="xdx_C03_gRBRTB-PV_zoKrZlTfW1q8"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C03_gRBRTB-ARWHW_zRn62kiShN76"><div id="xdx_C00_gRBRTB-PV_zRi7mDNcvhW"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C08_gRBRTB-ARWHW_znAB7Aq329Uf"><div id="xdx_C09_gRBRTB-PV_zAtUu4z0xAeg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0E_gRBRTB-ARWHW_zsi3UUTTE3nk"><div id="xdx_C03_gRBRTB-PV_zGJWH7AJ3RE"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C00_gRBRTB-ARWHW_zojg99CU4Xje"><div id="xdx_C09_gRBRTB-PV_zYAvEf0nbnPi"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C04_gRBRTB-ARWHW_zam6uzQBTZp2"><div id="xdx_C09_gRBRTB-PV_zEKy42bn8htb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C09_gRBRTB-ARWHW_z6hSS3Iuvf7c"><div id="xdx_C05_gRBRTB-PV_z7b0OKzDF471"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0D_gRBRTB-ARWHW_z3BrqFtXKTkj"><div id="xdx_C09_gRBRTB-PV_zXjIqAkUnCqi"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">●</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C09_gRBRTB-PV_zV8Bid1tIogc"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zTaE7y6xMIEi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Financial
Sector Risk<i>. </i></b>Performance of companies in the financial sector may be adversely impacted by many factors, including, among
others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and decreased liquidity in
credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual financial company, or
recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><div id="xdx_C04_gRBRTB-PV_zf4SI3fPR2Uh"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zNlVNlE8EQfi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Foreign
Investment Risk.</b> Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). The risks of investing in foreign securities are typically increased by investing in emerging
market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial
currency conversion costs.</span></p>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z1dB0q2btVOa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><div id="xdx_C0B_gRBRTB-PV_zMeffqWVMGOe"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zwBUdYZaWgyj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><div id="xdx_C0D_gRBRTB-PV_zfWLtmUZG5Vd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zOu8bbToq7eb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C0D_gRBRTB-PV_zjLAeYwgHGN2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zkNjq7bP01na" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><div id="xdx_C0D_gRBRTB-PV_zBAi4pKtz1Fb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z1iidcZjUsGg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><div id="xdx_C07_gRBRTB-PV_zy0mpPYp6I57"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_zdWTdMORjai9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><div id="xdx_C03_gRBRTB-PV_zyRp6aO4cis6"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zkaVpKJ3R5q2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C01_gRBRTB-PV_zXNovAP1e9t8"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zoSjJxmPm41h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, exchange rates, trading and tariff events and political events may
adversely affect the securities markets.</span></p><div id="xdx_C07_gRBRTB-PV_ztRjDmsxqwV4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zvpJD0406fJ1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk.</b> To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_zYDBLZ1s8Nla" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p>
Performance:
<p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zmLMD4AG3OK5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b><span id="xdx_902_eoef--PerformanceOneYearOrLess_c20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member_zXH0vq42K0Ih">Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.</span> In the future, performance information will be presented in this section of this Prospectus. Updated performance information will
be available at no cost at <span style="text-decoration: underline"><span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member_zmdf6N6Vr1Wa">www.EventideETFs.com</span></span> or by calling <span id="xdx_906_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000096521Member_zpdsJLToKnb6">1-877-771-3836</span>.</span></p>
Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.
www.EventideETFs.com
1-877-771-3836
Fund
Summary: Eventide Large Cap Growth ETF
Investment
Objective:
<p id="xdx_A89_eoef--ObjectivePrimaryTextBlock_zjsqCMJG2v39" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Eventide Large Cap Growth ETF’s (the “Large Cap Growth Fund” or the “Fund”)
investment objective is to seek long-term capital appreciation.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A86_eoef--ExpenseNarrativeTextBlock_zyCq3KcQcghj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares of the Fund.</span> <b>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.</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A87_eoef--ShareholderFeesTableTextBlock_zXi3ip7LXwia"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zipDOHyaG6ek" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; vertical-align: top; text-indent: 0pt"></td>
<td id="xdx_496_20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member__oef--ClassAxis__custom--C000264122Member_z8uDmk3N8pae" style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; vertical-align: bottom; text-align: center"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_zOqlIbQK8r66" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; padding: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; width: 85%; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholder
Fees <br/>
(fees paid directly from your investment)</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; vertical-align: bottom; width: 15%; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</span></td></tr>
</table>
<p style="margin: 0"> </p>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A89_eoef--AnnualFundOperatingExpensesTableTextBlock_zFMzbtJ2KdDj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zUVBnkXJgdKi" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-indent: 0pt; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</span></td>
<td id="xdx_496_20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member__oef--ClassAxis__custom--C000264122Member_zxQgAXSgH3r9" style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_405_eoef--ManagementFeesOverAssets_dpn_z7bdfedGM8r9" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
Fee<sup id="xdx_F40_z6Pguzp71Gf1">(1)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.39%</span></td></tr>
<tr id="xdx_405_eoef--DistributionAndService12b1FeesOverAssets_dpn_zi8WiaLyFA89" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40A_eoef--OtherExpensesOverAssets_dpn_z3r9fthKhpSj" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40E_eoef--ExpensesOverAssets_dpn_zxUNX0f85Aq3" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.39%</span></td></tr>
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; padding: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding: 0pt; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F0A_zgEQ3uUxLlDj">(1)</sup></span></td><td><span id="xdx_F17_zBjm5yYUkNMj" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
management fee is structured as a “unified fee,” from which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.0039
0.0000
0.0000
0.0039
Example:
<p id="xdx_A8F_eoef--ExpenseExampleNarrativeTextBlock_zJf0LzEDpEul" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell all of your Shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A82_eoef--ExpenseExampleWithRedemptionTableTextBlock_zxdj4rZNlKSj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zZh0piTUeVi6" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_48C_eoef--ExpenseExampleYear01_zs765Yjx5sN9" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_485_eoef--ExpenseExampleYear03_z43MGa0bNjq1" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>3
Years</i></span></td>
<td id="xdx_48C_eoef--ExpenseExampleYear05_znvqrGatPwzg" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>5
Years</i></span></td>
<td id="xdx_484_eoef--ExpenseExampleYear10_z6cRxaayIUB3" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>10
Years</i></span></td></tr>
<tr id="xdx_416_20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member__oef--ClassAxis__custom--C000264122Member_zyNJ7sW082fc" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$40</span></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$125</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$219</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$493</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
40
125
219
493
Portfolio
Turnover:
<p id="xdx_A86_eoef--PortfolioTurnoverTextBlock_zNCdvkwXxmO3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">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. For the fiscal period from September 29, 2025 (commencement of operations) to April 30, 2026, the Fund’s portfolio
turnover rate was <span id="xdx_90C_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member_z9BLNLCTO6ac">38%</span>.</span></p>
0.38
Principal
Investment Strategy:
<p id="xdx_A88_eoef--StrategyNarrativeTextBlock_zqeam9xYaGpd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>The Fund seeks to achieve its investment objective by investing primarily in the equity securities of United
States (“U.S.”) large-capitalization companies that exhibit growth style characteristics, and are identified by Eventide Asset
Management, LLC, the Fund’s investment adviser (the “Adviser” ), as creating value for stakeholders (customers, employees,
supply chain, community, environment, and society) using the Adviser’s faith-based screening criteria as more fully described below
under “Faith-Based Screening.” The Adviser actively manages the Fund using a long-only investment approach, and seeks to achieve
its objective while generating performance that is similar to the performance of the Bloomberg U.S. 1000 Growth Total Return Index (the
“Strategy Benchmark”) before Fund fees and expenses. The Strategy Benchmark is a float market-cap weighted benchmark comprised
of companies within the Bloomberg U.S. 1000 Index with the highest growth factor scores based on their earnings yield, valuation, dividend
yield, and growth. The Fund is not an index fund and the Adviser is not required to purchase any specific securities or amount of securities
included in the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Under
normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes)
in the securities of large cap companies and companies that exhibit growth style characteristics. The Fund considers large cap companies
to be companies with a market capitalization of $20 billion or greater. The Fund invests in securities the Adviser believes exhibit growth
style characteristics based on long-term projected earnings growth while also taking into account growth characteristics such as a company’s
historical growth of earnings, earnings yield, sales, cash flow, market value and book value. Projected earnings growth is based on an
average of available third-party analysts’ estimates for three- to five-year earnings per share (“EPS”) growth. The equity
securities that the Fund may invest in include common stock and real estate investment trusts (“REITs”). The Fund may not invest
25% or more of its total assets in a particular industry or group of industries, except that the Fund may concentrate 25% to 35% of its
total assets in a particular industry or group of industries to the extent that such industry or group of industries represents 20% or
more of the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Stock
selection is supported by the Adviser’s fundamental research, including the faith-based screening criteria described below. The
Adviser effects portfolio changes for the Fund on an ongoing basis as it deems necessary and appropriate, and may consider overall market
conditions and trading volumes when making investment decisions. The Fund will seek to maintain at least 75 issuers in its portfolio
in normal market conditions. The Adviser monitors the portfolio and uses research and quantitative modeling and risk tools to reasonably
adjust the active weight of portfolio securities in order to improve the Fund’s ability to meet its investment objective and reduce
active risk compared with its Strategy Benchmark. While actively managing the portfolio, the Adviser will utilize quantitative tools
as an input to the management of position sizes on a forward-looking basis, including to help mitigate the impact of individual sectors,
industries, and stylistic factors (e.g., quantitative factors such as growth, momentum, quality and value) on active risk and the Fund’s
ability to perform in a manner that is similar to the performance of the Strategy Benchmark before Fund fees and expenses.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Faith-Based
Screening</b>. The Adviser uses its proprietary screening methodology to analyze all potential investments for the company’s ability
to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below.
The values assessed in the Adviser’s screening process are inspired by the Christian faith and rooted in a biblical worldview. While
few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations
for the companies in which the Fund invests. The Adviser uses its screening processes in connection with other fundamental research processes
to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless
the Adviser believes that the faith-based screens are met. If the Adviser’s research identifies events and/or business changes suggesting
that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company’s securities while the Adviser
performs additional research, including possible direct engagement with the company to assess practices. The Adviser’s faith-based
screening process for potential investments does not apply relative weights between values-based factors and financial factors. There
is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles
which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that
reflect the following values:</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or serve the Fund’s
principal investment strategy to generate performance that is similar to the performance of the Strategy Benchmark before Fund fees and
expenses, or when the Adviser believes the underlying company is no longer consistent with the Adviser’s faith-based values.</span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_gRBRTB-PFNEB_z7XbYcc69Ejl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary, and you could lose money on your investment in the Fund and those losses could
be significant. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zwikYqrbYr8k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z8QiJXzqsmp4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zmWk5rKqCc43" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><p id="xdx_A90_zqHbrrK4Gog3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-FITTP_zo1oLL5FrJQb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zfIwwm3Ahwbe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zuEvUE70pFp7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zGriD5wUqDXa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day bid/ask spread of the Fund to
widen.</td></tr></table></div><p id="xdx_A9A_zFc03TjiAfc2" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--GrowthStockRiskMember_z3hsXjBoY2je" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Growth
Stock Risk.</b> “Growth” stocks can react differently to issuer, political, market, and economic
developments than the market as a whole and other types of stocks. “Growth” stocks also tend to be more expensive relative
to their earnings or assets compared to other types of stocks. As a result, “growth” stocks tend to be sensitive to changes
in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser believes have
significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the
management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to
more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general. </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z8dZroLGrqCb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_z4NWtixSeMI2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_ziGNgiqbgHL1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_z3OCCU0sCOEa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zVoV95DwT5r7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_z743VMJFyFi2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zvu4cEdak0Z4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value and
potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p id="xdx_A99_zCkuHOj4RjT3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zVgbSTmUaIY3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zo4Y1fgSdn06" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zLXjvv5vRtYl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects. </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_z0gphsCNMrG9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_zYudoR2tHfti" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_zbAWcBXIF3Ph" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p><p id="xdx_A9F_z3fKCt8Xf9ug" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s Principal
Investment Strategies and Related Risks.” </i></span></p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zwikYqrbYr8k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C09_gRBRTB-PFNEB_zerns75d75Jg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z8QiJXzqsmp4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C0F_gRBRTB-PFNEB_zh4uhIrqOnmf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zmWk5rKqCc43" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-FITTP_zo1oLL5FrJQb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C0C_gRBRTB-PFNEB_zxNNOUNUrOA4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C05_gRBRTB-PFNEB_zq8klCymzMti"><div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zfIwwm3Ahwbe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-PFNEB_z7Hp8vHjaV9h"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-PFNEB_zszanCqho7Vi"><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zuEvUE70pFp7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-PFNEB_zHXY4Ob0BdLk"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0E_gRBRTB-PFNEB_zM1To56KOIu1"><div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zGriD5wUqDXa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C02_gRBRTB-PFNEB_z4d8nm84o4k7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0C_gRBRTB-PFNEB_z2KGQjugesoh"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C02_gRBRTB-PFNEB_zXzW1iIOMMh2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0F_gRBRTB-PFNEB_z8rnFC6YJZP4"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-PFNEB_zB8ZkeJ7kr27"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C07_gRBRTB-PFNEB_zaGMEggAdr1"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div></div><div id="xdx_C0E_gRBRTB-PFNEB_zODh0GCz4lsb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0A_gRBRTB-PFNEB_zqA4EbmpWeb1"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day bid/ask spread of the Fund to
widen.</td></tr></table></div></div>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zfIwwm3Ahwbe">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-FITTP_zleTfN7Ge0Ic"><div id="xdx_C0B_gRBRTB-PFNEB_z7Hp8vHjaV9h"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zuEvUE70pFp7">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-FITTP_zwF5tQjdDLX6"><div id="xdx_C04_gRBRTB-PFNEB_zHXY4Ob0BdLk"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zGriD5wUqDXa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-FITTP_zu8ACck7TYI2"><div id="xdx_C02_gRBRTB-PFNEB_z4d8nm84o4k7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0D_gRBRTB-FITTP_zijlSHDQBvoh"><div id="xdx_C0C_gRBRTB-PFNEB_z2KGQjugesoh"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C01_gRBRTB-FITTP_zhxOZyEcMUZd"><div id="xdx_C02_gRBRTB-PFNEB_zXzW1iIOMMh2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C08_gRBRTB-FITTP_zOyb78tB5COc"><div id="xdx_C0F_gRBRTB-PFNEB_z8rnFC6YJZP4"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C05_gRBRTB-FITTP_zhweuEaAHEwb"><div id="xdx_C04_gRBRTB-PFNEB_zB8ZkeJ7kr27"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C09_gRBRTB-FITTP_z6EtaN99mJo5"><div id="xdx_C07_gRBRTB-PFNEB_zaGMEggAdr1"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div></div></div>
<div id="xdx_C03_gRBRTB-FITTP_zH6deTa0Wx15"><div id="xdx_C0E_gRBRTB-PFNEB_zODh0GCz4lsb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C08_gRBRTB-FITTP_ztDzAk1oKZLe"><div id="xdx_C0A_gRBRTB-PFNEB_zqA4EbmpWeb1"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day bid/ask spread of the Fund to
widen.</td></tr></table></div></div></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--GrowthStockRiskMember_z3hsXjBoY2je" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Growth
Stock Risk.</b> “Growth” stocks can react differently to issuer, political, market, and economic
developments than the market as a whole and other types of stocks. “Growth” stocks also tend to be more expensive relative
to their earnings or assets compared to other types of stocks. As a result, “growth” stocks tend to be sensitive to changes
in their earnings and more volatile in price than the stock market as a whole. In addition, companies that the Adviser believes have
significant growth potential are often companies with new, limited or cyclical product lines, markets or financial resources and the
management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to
more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general. </span></p><div id="xdx_C09_gRBRTB-PFNEB_zDnZrsgNEWAl"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z8dZroLGrqCb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><div id="xdx_C08_gRBRTB-PFNEB_zOvT6U5zqJv7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_z4NWtixSeMI2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><div id="xdx_C0D_gRBRTB-PFNEB_zz2qASTE1lxa"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_ziGNgiqbgHL1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C08_gRBRTB-PFNEB_zMJoOJ5yb1S"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_z3OCCU0sCOEa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><div id="xdx_C0E_gRBRTB-PFNEB_zsPe4p7l9xA2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zVoV95DwT5r7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><div id="xdx_C04_gRBRTB-PFNEB_za7Mr8FGSJt1"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_z743VMJFyFi2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><div id="xdx_C06_gRBRTB-PFNEB_z4itBk3poV14"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zvu4cEdak0Z4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value and
potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zVgbSTmUaIY3" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><div id="xdx_C01_gRBRTB-PFNEB_zEz6Yug9c2ud"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zo4Y1fgSdn06" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid-sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><div id="xdx_C05_gRBRTB-PFNEB_zyj37WXH3YI5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zLXjvv5vRtYl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects. </span></p><div id="xdx_C0B_gRBRTB-PFNEB_ziqxS5juK9K2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_z0gphsCNMrG9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><div id="xdx_C0D_gRBRTB-PFNEB_zRIuo9PwOdNk"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_zYudoR2tHfti" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><div id="xdx_C0E_gRBRTB-PFNEB_zd2FVRb2aHr5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_zbAWcBXIF3Ph" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p>
Performance:
<p id="xdx_A85_eoef--PerformanceNarrativeTextBlock_zX9LUrwQ5wkj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b><span id="xdx_90F_eoef--PerformanceOneYearOrLess_c20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member_zEhK3tMOfiH2">Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.</span> In the future, performance information will be presented in this section of this Prospectus. Updated performance information will
be available at no cost at <span style="text-decoration: underline"><span id="xdx_904_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member_zaZOUBFWipk3">www.EventideETFs.com</span></span> or by calling <span id="xdx_902_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000095401Member_zYJEjnNBwVg9">1-877-771-3836</span>.</span></p>
Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.
www.EventideETFs.com
1-877-771-3836
Fund
Summary: Eventide Large Cap Value ETF
Investment
Objective:
<p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_zUGjYpch5oDl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Eventide Large Cap Value ETF’s (the “Large Cap Value Fund” or the “Fund”)
investment objective is to seek long-term capital appreciation.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A8C_eoef--ExpenseNarrativeTextBlock_zOkbnxRgXr57" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares of the Fund.</span> <b>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. </b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zCcjDn0A7QNe"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zbkzTvYeCzB" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></td>
<td id="xdx_495_20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member__oef--ClassAxis__custom--C000264123Member_zv3asMb1txpk" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; vertical-align: bottom; text-align: center; padding-right: 0pt; padding-left: 0pt"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_zR9k2j3nGV2e" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; padding-top: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; width: 85%; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholder
Fees <br/>
(fees paid directly from your investment)</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; vertical-align: bottom; width: 15%; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</span></td></tr>
</table>
<p style="margin: 0"> </p>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_zZ7TQkhNDoF3"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_zAXlAdgm2M0l" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</span></td>
<td id="xdx_495_20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member__oef--ClassAxis__custom--C000264123Member_zDC8RrNXAYJ6" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40D_eoef--ManagementFeesOverAssets_dpn_zBaC1eU7lh27" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
Fee<sup id="xdx_F48_z54cM50CO00g">(1)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.39%</span></td></tr>
<tr id="xdx_407_eoef--DistributionAndService12b1FeesOverAssets_dpn_zYpnnAGAw1Ak" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_405_eoef--OtherExpensesOverAssets_dpn_zBFatpDYDoP6" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zaWpcxxqwFlb" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.39%</span></td></tr>
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; padding-top: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F06_zFpWOLpMW4l4">(1)</sup></span></td><td><span id="xdx_F1A_zf0nJlZEKk3l" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
management fee is structured as a “unified fee,” from which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.0039
0.0000
0.0000
0.0039
Example:
<p id="xdx_A88_eoef--ExpenseExampleNarrativeTextBlock_zjxGfbNgtzK8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell all of your Shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A81_eoef--ExpenseExampleWithRedemptionTableTextBlock_zvJKVOwWMKCi"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zBwt6ep3WzJ7" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_482_eoef--ExpenseExampleYear01_z2J7qw5hntGl" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear03_zyCLeEEf5jG4" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>3
Years</i></span></td>
<td id="xdx_48F_eoef--ExpenseExampleYear05_zyitd3JfD3Jg" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>5
Years</i></span></td>
<td id="xdx_489_eoef--ExpenseExampleYear10_zMhpft5Cnrab" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>10
Years</i></span></td></tr>
<tr id="xdx_41A_20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member__oef--ClassAxis__custom--C000264123Member_zE0QsdUlOcwe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$40</span></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$125</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$219</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$493</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
40
125
219
493
Portfolio
Turnover:
<p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_zsAoIglPaKGf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">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. For the fiscal period from September 29, 2025 (commencement of operations) to April 30, 2026, the Fund’s portfolio
turnover rate was <span id="xdx_90C_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member_zr0zPdSp6Tde">22%</span>.</span></p>
0.22
Principal
Investment Strategy:
<p id="xdx_A81_eoef--StrategyNarrativeTextBlock_z4b5qQaJmXe8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>The Fund seeks to achieve its investment objective by investing primarily in the equity securities of United
States (“U.S.”) large-capitalization companies that exhibit value style characteristics, and are identified by Eventide Asset
Management, LLC, the Fund’s investment adviser (the “Adviser” ), as creating value for stakeholders (customers, employees,
supply chain, community, environment, and society) using the Adviser’s faith-based screening criteria as more fully described below
under “Faith-Based Screening.” The Adviser actively manages the Fund using a long-only investment approach, and seeks to achieve
its objective while generating performance that is similar to the performance of the Bloomberg U.S. 1000 Value Total Return Index (the
“Strategy Benchmark”) before Fund fees and expenses. The Strategy Benchmark is a float market-cap weighted benchmark comprised
of companies within the Bloomberg U.S. 1000 Index with the highest value factor scores based on their earnings yield, valuation, dividend
yield, and growth. The Fund is not an index fund and the Adviser is not required to purchase any specific securities or amount of securities
included in the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font: normal 10pt Arial, Helvetica, Sans-Serif">Under
normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes)
in the securities of large cap companies and companies that exhibit value style characteristics. The Fund considers large cap companies
to be companies with a market capitalization of $20 billion or greater. The Fund invests in securities the Adviser believes exhibit
value style characteristics based on price to projected earnings and earnings yield, while also taking into account market value, price-to-book,
price-to-sales, price-to-cash flow, and dividend yield. The equity securities that the Fund may invest in include common stock and real
estate investment trusts (“REITs”). The Fund may not invest 25% or more of its total assets in a particular industry or group
of industries, except that the Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to
the extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font: normal 10pt Arial, Helvetica, Sans-Serif">Stock
selection is supported by the Adviser’s fundamental research, including the faith-based screening criteria described below. The
Adviser effects portfolio changes for the Fund on an ongoing basis as it deems necessary and appropriate, and may consider overall market
conditions and trading volumes when making investment decisions. The Fund will seek to maintain at least 75 issuers in its portfolio
in normal market conditions. The Adviser monitors the portfolio and uses research and quantitative modeling and risk tools to reasonably
adjust the active weight of portfolio securities in order to improve the Fund’s ability to meet its investment objective and reduce
active risk compared with its Strategy Benchmark. While actively managing the portfolio, the Adviser will utilize quantitative tools
as an input to the management of position sizes on a forward-looking basis, including to help mitigate the impact of individual sectors,
industries, and stylistic factors (e.g., quantitative factors such as growth, momentum, quality and value) on active risk and the Fund’s
ability to perform in a manner that is similar to the performance of the Strategy Benchmark before Fund fees and expenses.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Faith-Based
Screening</b>. The Adviser uses its proprietary screening methodology to analyze all potential investments for the company’s ability
to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below.
The values assessed in the Adviser’s screening process are inspired by the Christian faith and rooted in a biblical worldview. While
few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations
for the companies in which the Fund invests. The Adviser uses its screening processes in connection with other fundamental research processes
to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless
the Adviser believes that the faith-based screens are met. If the Adviser’s research identifies events and/or business changes suggesting
that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company’s securities while the Adviser
performs additional research, including possible direct engagement with the company to assess practices. The Adviser’s faith-based
screening process for potential investments does not apply relative weights between values-based factors and financial factors. There
is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles
which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that
reflect the following values:</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.</span></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or serve the Fund’s
principal investment strategy to generate performance that is similar to the performance of the Strategy Benchmark before Fund fees and
expenses, or when the Adviser believes the underlying company is no longer consistent with the Adviser’s faith-based values.</span></p>
<p id="xdx_A86_eoef--RiskTextBlock_gRBRTB-KXZXK_zs4h9o4ltyH9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary, and you could lose money on your investment in the Fund and those losses could
be significant. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zJvk8j6HL2dd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zDcs463Rcia6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zx5pyxSgEdZ4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><p id="xdx_A93_zBMCmsnYdAO5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-FNPX_zTFvEkYIW4Rj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zyI6B7tvX5Wg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zpiHGwzKhAba">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zALuWPoZN889">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">■</td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p id="xdx_A91_zZWXC0RIsOc8" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zgEPCSzMS2Eg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Financial
Sector Risk<i>. </i></b>Performance of companies in the financial sector may be adversely impacted by many
factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and
decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual
financial company, or recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_zJTzFq0yhszd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zHEYClO71H0c" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zkbB7uTvJrR4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_z1xu97iNvGej" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zenegeuwqWZc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_zbiBImAcLI0l" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zMKRHC9G8nEj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zLsytNP2y4X6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price per
share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><p id="xdx_A9D_zOwwPfTa14Ce" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_z5P0qW0UTnJb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_ziwGzXQUMm7h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zlJ1LMW0igS2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_zWF8qociyPia" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk. </b>To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ValueInvestingRiskMember_z9pu06zEQAZb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Value
Investing Risk.</b> A value styl<b>e</b> of investing focuses on undervalued companies with characteristics for improved
valuations. “Value” securities are subject to the risk that their valuations never improve or that the returns on “value”
securities are less than returns on other styles of investing or the overall stock market. Thus, the value of the Fund’s investments
will vary and at times may be lower than that of other types of investments. Historically, value investments have performed best during
periods of economic recovery. Therefore, the value investing style may over time go in and out of favor. Value stocks also may decline
in price, even though in theory they are already underpriced.</span></p><p id="xdx_A91_zfLe5dm42Wi1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.” </i></span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zJvk8j6HL2dd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0B_gRBRTB-KXZXK_ze0gGQYjGHw9"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zDcs463Rcia6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C06_gRBRTB-KXZXK_zBqDxnZjtBW1"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zx5pyxSgEdZ4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-FNPX_zTFvEkYIW4Rj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C08_gRBRTB-KXZXK_zUqoUXlX7ehd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C01_gRBRTB-KXZXK_zmKSCIlE4Bjg"><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zyI6B7tvX5Wg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-KXZXK_zDh9OaPhoDya"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C02_gRBRTB-KXZXK_zFfAPMwo3H96"><div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zpiHGwzKhAba">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-KXZXK_zdN8IwH9sZne"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-KXZXK_zk8txfQL4ase"><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zALuWPoZN889">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-KXZXK_z2XUlGyBOFg8"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0E_gRBRTB-KXZXK_zUDR8jwPQj73"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-KXZXK_zCtResT7s0Jd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C05_gRBRTB-KXZXK_zP3Oqtufgts8"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-KXZXK_zOlPXaxBhbo5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0C_gRBRTB-KXZXK_z5aKm2q1ujLj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div></div><div id="xdx_C09_gRBRTB-KXZXK_zrKuzg0QYeS3"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C00_gRBRTB-KXZXK_zeLwtaZI6J7l"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">■</td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zyI6B7tvX5Wg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C05_gRBRTB-FNPX_zs3joVS2X1X3"><div id="xdx_C0B_gRBRTB-KXZXK_zDh9OaPhoDya"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zpiHGwzKhAba">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-FNPX_zckeuPKJmGce"><div id="xdx_C09_gRBRTB-KXZXK_zdN8IwH9sZne"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zALuWPoZN889">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-FNPX_znqr6lvG6fCj"><div id="xdx_C06_gRBRTB-KXZXK_z2XUlGyBOFg8"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0F_gRBRTB-FNPX_z1TLiWtQMxJ"><div id="xdx_C0E_gRBRTB-KXZXK_zUDR8jwPQj73"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C03_gRBRTB-FNPX_zrOPbJVRuIQl"><div id="xdx_C06_gRBRTB-KXZXK_zCtResT7s0Jd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C0E_gRBRTB-FNPX_zrbwET109eAb"><div id="xdx_C05_gRBRTB-KXZXK_zP3Oqtufgts8"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C0B_gRBRTB-FNPX_z1hc5tRU7hWc"><div id="xdx_C04_gRBRTB-KXZXK_zOlPXaxBhbo5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C05_gRBRTB-FNPX_zYfjNfNkpbf6"><div id="xdx_C0C_gRBRTB-KXZXK_z5aKm2q1ujLj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div></div></div>
<div id="xdx_C0E_gRBRTB-FNPX_zO9OZncwW14k"><div id="xdx_C09_gRBRTB-KXZXK_zrKuzg0QYeS3"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C07_gRBRTB-FNPX_zwvMNt1fbNoe"><div id="xdx_C00_gRBRTB-KXZXK_zeLwtaZI6J7l"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left">■</td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zgEPCSzMS2Eg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Financial
Sector Risk<i>. </i></b>Performance of companies in the financial sector may be adversely impacted by many
factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and
decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual
financial company, or recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><div id="xdx_C0B_gRBRTB-KXZXK_zatZLMUPrXda"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_zJTzFq0yhszd" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><div id="xdx_C0F_gRBRTB-KXZXK_zqBSuzcdWdUg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zHEYClO71H0c" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><div id="xdx_C0C_gRBRTB-KXZXK_zknJkofWglQ4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zkbB7uTvJrR4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C07_gRBRTB-KXZXK_zA7OXcVPrH2l"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_z1xu97iNvGej" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><div id="xdx_C00_gRBRTB-KXZXK_zn2ocRgz22Ba"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zenegeuwqWZc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><div id="xdx_C01_gRBRTB-KXZXK_ziFOUW1bsv09"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_zbiBImAcLI0l" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><div id="xdx_C02_gRBRTB-KXZXK_zfftqsNVEAo5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zMKRHC9G8nEj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C05_gRBRTB-KXZXK_zG5njgvhaRXg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zLsytNP2y4X6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price per
share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_z5P0qW0UTnJb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><div id="xdx_C0C_gRBRTB-KXZXK_zraW7R80iiXc"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_ziwGzXQUMm7h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C0F_gRBRTB-KXZXK_zo0hMfjGKxGa"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zlJ1LMW0igS2" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><div id="xdx_C04_gRBRTB-KXZXK_zLqRc2NUjbia"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_zWF8qociyPia" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk. </b>To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><div id="xdx_C04_gRBRTB-KXZXK_zsSQwH6n2bxf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ValueInvestingRiskMember_z9pu06zEQAZb" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Value
Investing Risk.</b> A value styl<b>e</b> of investing focuses on undervalued companies with characteristics for improved
valuations. “Value” securities are subject to the risk that their valuations never improve or that the returns on “value”
securities are less than returns on other styles of investing or the overall stock market. Thus, the value of the Fund’s investments
will vary and at times may be lower than that of other types of investments. Historically, value investments have performed best during
periods of economic recovery. Therefore, the value investing style may over time go in and out of favor. Value stocks also may decline
in price, even though in theory they are already underpriced.</span></p>
Performance:
<p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zfnIrJ7x31Q1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b><span id="xdx_90D_eoef--PerformanceOneYearOrLess_c20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member_zqGyEMDhj6Db">Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.</span> In the future, performance information will be presented in this section of this Prospectus. Updated performance information will
be available at no cost at <span style="text-decoration: underline"><span id="xdx_90A_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member_zXXvo1OGF8k8">www.EventideETFs.com</span></span> or by calling <span id="xdx_905_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000095402Member_zUEex7sJAsXk">1-877-771-3836</span>.</span></p>
Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.
www.EventideETFs.com
1-877-771-3836
Fund
Summary: Eventide Small Cap ETF
Investment
Objective:
<p id="xdx_A86_eoef--ObjectivePrimaryTextBlock_zGsxAoM294ik" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Eventide Small Cap Fund’s (the “Small Cap Fund” or the “Fund”)
investment objective is to seek long-term capital appreciation.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A85_eoef--ExpenseNarrativeTextBlock_zrgzWfo23UZg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares of the Fund. </span><b>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. </b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A84_eoef--ShareholderFeesTableTextBlock_zAUyiV9QNYQi"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A54_dU_zAwuDtTl6li" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt"></td>
<td id="xdx_49A_20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member__oef--ClassAxis__custom--C000264124Member_z1sekQqGlgrh" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; vertical-align: bottom; text-align: center; padding-left: 0pt"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_zD6lktDSR7Md" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; width: 85%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholder
Fees <br/>
(fees paid directly from your investment)</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; vertical-align: bottom; width: 15%; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</span></td></tr>
</table>
<p style="margin: 0"> </p>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A89_eoef--AnnualFundOperatingExpensesTableTextBlock_zTjc4d5iPqpe"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zKpdIHV4VMWg" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</span></td>
<td id="xdx_49A_20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member__oef--ClassAxis__custom--C000264124Member_zK0DulciP3s" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eoef--ManagementFeesOverAssets_dpn_zXHsiaVzxTh4" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
Fee<sup id="xdx_F45_z3WcjDM0t153">(1)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.49%</span></td></tr>
<tr id="xdx_402_eoef--DistributionAndService12b1FeesOverAssets_dpn_zbPABTw2awof" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_402_eoef--OtherExpensesOverAssets_dpn_zZHdzhLzOTCe" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40F_eoef--ExpensesOverAssets_dpn_zwNyGkgXqijh" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0pt; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.49%</span></td></tr>
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; text-align: center; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F0A_z33H1PcWvH59">(1)</sup></span></td><td><span id="xdx_F1C_z2pQGV3YqOol" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
management fee is structured as a “unified fee,” from which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.0049
0.0000
0.0000
0.0049
Example:
<p id="xdx_A8E_eoef--ExpenseExampleNarrativeTextBlock_zrOl6KyUz6Ah" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell all of your Shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_zEWzxg74Ik59"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_zlwRxT1fKebf" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_48E_eoef--ExpenseExampleYear01_z4O0ORLqEfD2" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_480_eoef--ExpenseExampleYear03_zVRCPimpvKAl" style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>3
Years</i></span></td>
<td id="xdx_486_eoef--ExpenseExampleYear05_zWYgcMS0a109" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>5
Years</i></span></td>
<td id="xdx_48E_eoef--ExpenseExampleYear10_zqCOXBYR3AE1" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>10
Years</i></span></td></tr>
<tr id="xdx_41E_20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member__oef--ClassAxis__custom--C000264124Member_zQQOTFwJ6Y8f" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$50</span></td>
<td style="border-bottom: Black 1pt solid; text-indent: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$157</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$274</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$616</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
50
157
274
616
Portfolio
Turnover:
<p id="xdx_A8F_eoef--PortfolioTurnoverTextBlock_zfmZe6XGDIRe" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">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. For the fiscal period from September 29, 2025 (commencement of operations) to April 30, 2026, the Fund’s portfolio
turnover rate was <span id="xdx_90E_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member_zKDaXnLx0L3a">14%</span>.</span></p>
0.14
Principal
Investment Strategy:
<p id="xdx_A85_eoef--StrategyNarrativeTextBlock_zftIAQeBde72" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Fund seeks to achieve its investment objective by investing primarily in the equity securities of United
States (“U.S.”) small-capitalization companies, identified by Eventide Asset Management, LLC, the Fund’s investment adviser
(the “Adviser”), as creating value for stakeholders (customers, employees, supply chain, community, environment, and society)
using the Adviser’s faith-based screening criteria as more fully described below under “Faith-Based Screening.” The Adviser
actively manages the Fund using a long-only investment approach, and seeks to achieve its objective while generating performance that
is similar to the performance of the Bloomberg U.S. 2000 Total Return Index (the “Strategy Benchmark”) before Fund fees and
expenses. The Strategy Benchmark is a float market-cap-weighted benchmark comprised of the lower 2,000 companies, rated by market capitalization,
of the Bloomberg U.S. 3000 Index. The Fund is not an index fund and the Adviser is not required to purchase any specific securities or
amount of securities included in the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font: normal 10pt Arial, Helvetica, Sans-Serif">Under
normal market conditions, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes)
in the securities of small cap companies, which the Fund considers to be companies with a market capitalization of less than $20 billion.
The equity securities that the Fund may invest in include common stock and real estate investment trusts (“REITs”). The Fund
may not invest 25% or more of its total assets in a particular industry or group of industries, except that the Fund may concentrate
25% to 35% of its total assets in a particular industry or group of industries to the extent that such industry or group of industries
represents 20% or more of the Fund’s Strategy Benchmark.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font: normal 10pt Arial, Helvetica, Sans-Serif">Stock
selection is supported by the Adviser’s fundamental research, including the faith-based screening criteria described below. The
Adviser effects portfolio changes for the Fund on an ongoing basis as it deems necessary and appropriate, and may consider overall market
conditions and trading volumes when making investment decisions. The Fund will seek to maintain at least 100 issuers in its portfolio
in normal market conditions. The Adviser monitors the portfolio and uses research and quantitative modeling and risk tools to reasonably
adjust the active weight of portfolio securities in order to improve the Fund’s ability to meet its investment objective and reduce
active risk compared with its Strategy Benchmark. While actively managing the portfolio, the Adviser will utilize quantitative tools
as an input to the management of position sizes on a forward-looking basis, including to help mitigate the impact of individual sectors,
industries, and stylistic factors (e.g., quantitative factors such as growth, momentum, quality and value) on active risk and the Fund’s
ability to perform in a manner that is similar to the performance of the Strategy Benchmark before Fund fees and expenses. </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Faith-Based
Screening</b>. The Adviser uses its proprietary screening methodology to analyze all potential investments for the company’s ability
to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below.
The values assessed in the Adviser’s screening process are inspired by the Christian faith and rooted in a biblical worldview. While
few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations
for the companies in which the Fund invests. The Adviser uses its screening processes in connection with other fundamental research processes
to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless
the Adviser believes that the faith-based screens are met. If the Adviser’s research identifies events and/or business changes suggesting
that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company’s securities while the Adviser
performs additional research, including possible direct engagement with the company to assess practices. The Adviser’s faith-based
screening process for potential investments does not apply relative weights between values-based factors and financial factors. There
is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles
which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that
reflect the following values:</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.</span></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or serve the Fund’s
principal investment strategy to generate performance that is similar to the performance of the Strategy Benchmark before Fund fees and
expenses, or when the Adviser believes the underlying company is no longer consistent with the Adviser’s faith-based values.</span></p>
<p id="xdx_A83_eoef--RiskTextBlock_gRBRTB-RK_z303oQxYEbFg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary, and you could lose money on your investment in the Fund and those losses could
be significant. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zqbB15Uv637a" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zapcdUmRgI04" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zUAp2PB18aX4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p><p id="xdx_A9E_zCkky7OO23P5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ZVRGEA_zsXzjk7wFYFg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zEHnhceS5HOk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z5yIk1sGtfHb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zpoMalL477Na">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><p id="xdx_A98_zFsrN2SlWo73" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_z5x4yLhwMoj9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Financial
Sector Risk<i>. </i></b>Performance of companies in the financial sector may be adversely impacted by many
factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and
decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual
financial company, or recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--HealthcareSectorRiskMember_zRsCoj9mwtd4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Healthcare
Sector Risk. </b>The healthcare sector may be affected by government regulations and government healthcare programs, increases or decreases
in the cost of medical products and services and product liability claims, among other factors. Many healthcare companies are heavily
dependent on patent protection, and the expiration of a company’s patent may adversely affect that company’s profitability.
Healthcare companies are subject to competitive forces that may result in price discounting and may be thinly capitalized and susceptible
to product obsolescence.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_zjSKhv5rMqj1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zDvd3dXpE0Kf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zlVhSYhnRTP7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zSFfiA9E2Ye" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s Shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_z2jJuGEUaVb1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zTUZGUAaigBi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value and
potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p id="xdx_A9B_zu7gn8gOK20l" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zmXoVTYqPHW5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zLJET6tOYoSc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zb472LsE6wW5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real estate, including sensitivity
to general economic downturns and the volatility of local real estate markets. REITs may have limited financial resources and their securities
may trade infrequently and in limited volume, and thus they may be more volatile than other securities. The liquidity of REITs may change
dramatically over time.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_ziPe6HkZQfd4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_zGM0STl1Cjs" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p><p id="xdx_A9D_zC0nWPrYdwYa" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.” </i></span></p>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zqbB15Uv637a" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C03_gRBRTB-RK_zsIzTiCmMyI4"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zapcdUmRgI04" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C00_gRBRTB-RK_zvNc7AQtJmB5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zUAp2PB18aX4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines.</span></p>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ZVRGEA_zsXzjk7wFYFg" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C07_gRBRTB-RK_zM5H3iRjwKkf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0F_gRBRTB-RK_zUK4IXUj0gBc"><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zEHnhceS5HOk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-RK_zZlUfF1QSAWf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-RK_zgUbjQilhDR5"><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z5yIk1sGtfHb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-RK_zg4L42HUfu5i"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-RK_zutqMDSZlFfb"><div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zpoMalL477Na">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C0E_gRBRTB-RK_zTiKZ0kata2c"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C02_gRBRTB-RK_zCbhvcjqrZDj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C07_gRBRTB-RK_z0UqQz4NKdD2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-RK_zrsq6UuKdHe2"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C02_gRBRTB-RK_z8fW1dQYKgQj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0D_gRBRTB-RK_zJGShoocWtXe"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-RK_zk0UdP3ynqlg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C07_gRBRTB-RK_zP6VWnz3dGZb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zEHnhceS5HOk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-ZVRGEA_zFapenXBfeYh"><div id="xdx_C0B_gRBRTB-RK_zZlUfF1QSAWf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_z5yIk1sGtfHb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C04_gRBRTB-ZVRGEA_zQYEjnyyUxDk"><div id="xdx_C0B_gRBRTB-RK_zg4L42HUfu5i"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zpoMalL477Na">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-ZVRGEA_zQkC80QIi2Z3"><div id="xdx_C0E_gRBRTB-RK_zTiKZ0kata2c"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C06_gRBRTB-ZVRGEA_zfnX5Rv3tWv"><div id="xdx_C02_gRBRTB-RK_zCbhvcjqrZDj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C09_gRBRTB-ZVRGEA_zkkKVLZUJqgj"><div id="xdx_C07_gRBRTB-RK_z0UqQz4NKdD2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C05_gRBRTB-ZVRGEA_zTigDSsSyLq2"><div id="xdx_C01_gRBRTB-RK_zrsq6UuKdHe2"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C09_gRBRTB-ZVRGEA_zUX1uE17Vmud"><div id="xdx_C02_gRBRTB-RK_z8fW1dQYKgQj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C07_gRBRTB-ZVRGEA_zesmnAy1BlFj"><div id="xdx_C0D_gRBRTB-RK_zJGShoocWtXe"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C08_gRBRTB-ZVRGEA_z4DkJEIcNyoe"><div id="xdx_C09_gRBRTB-RK_zk0UdP3ynqlg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C04_gRBRTB-ZVRGEA_zbrGkoG89gfa"><div id="xdx_C07_gRBRTB-RK_zP6VWnz3dGZb"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_z5x4yLhwMoj9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Financial
Sector Risk<i>. </i></b>Performance of companies in the financial sector may be adversely impacted by many
factors, including, among others, government regulations, economic conditions, credit rating downgrades, changes in interest rates, and
decreased liquidity in credit markets. The impact of more stringent capital requirements, recent or future regulation of any individual
financial company, or recent or future regulation of the financial sector as a whole cannot be predicted.</span></p><div id="xdx_C0E_gRBRTB-RK_zSlcOWgaFc31"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--HealthcareSectorRiskMember_zRsCoj9mwtd4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Healthcare
Sector Risk. </b>The healthcare sector may be affected by government regulations and government healthcare programs, increases or decreases
in the cost of medical products and services and product liability claims, among other factors. Many healthcare companies are heavily
dependent on patent protection, and the expiration of a company’s patent may adversely affect that company’s profitability.
Healthcare companies are subject to competitive forces that may result in price discounting and may be thinly capitalized and susceptible
to product obsolescence.</span></p><div id="xdx_C07_gRBRTB-RK_zXJZDq264KL7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_zjSKhv5rMqj1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><div id="xdx_C00_gRBRTB-RK_zcY5Qrc67CNl"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustryConcentrationRiskMember_zDvd3dXpE0Kf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industry
Concentration Risk.</b> The Fund may concentrate 25% to 35% of its total assets in a particular industry or group of industries to the
extent that such industry or group of industries represents 20% or more of the Fund’s Strategy Benchmark. A fund that concentrates
its investments in an industry or group of industries is more vulnerable to adverse market, economic, regulatory, political or other
developments affecting such industry or group of industries than a fund that invests its assets more broadly.</span></p><div id="xdx_C06_gRBRTB-RK_z4QptF1d8Oxb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zlVhSYhnRTP7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C03_gRBRTB-RK_zqjqlsEKJ6yf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zSFfiA9E2Ye" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s Shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><div id="xdx_C0C_gRBRTB-RK_zjcRAuCeOJMg"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_z2jJuGEUaVb1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><div id="xdx_C03_gRBRTB-RK_z5OZasAdkEka"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zTUZGUAaigBi" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value and
potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zmXoVTYqPHW5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><div id="xdx_C00_gRBRTB-RK_zGrNG0ICRGai"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zLJET6tOYoSc" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C0A_gRBRTB-RK_zpFLDMC6SmIb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zb472LsE6wW5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real estate, including sensitivity
to general economic downturns and the volatility of local real estate markets. REITs may have limited financial resources and their securities
may trade infrequently and in limited volume, and thus they may be more volatile than other securities. The liquidity of REITs may change
dramatically over time.</span></p><div id="xdx_C00_gRBRTB-RK_z2zE4jTVYHlj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_ziPe6HkZQfd4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><div id="xdx_C00_gRBRTB-RK_zklvd2zw9zj7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_zGM0STl1Cjs" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p>
Performance:
<p id="xdx_A83_eoef--PerformanceNarrativeTextBlock_zoQlZmKB1ZXf" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b><span id="xdx_90D_eoef--PerformanceOneYearOrLess_c20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member_zsvtwjiFb3wa">Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.</span> In the future, performance information will be presented in this section of this Prospectus. Updated performance information will
be available at no cost at <span style="text-decoration: underline"><span id="xdx_905_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member_zCPxyLs9cCzj">www.EventideETFs.com</span></span> or by calling <span id="xdx_90E_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000095403Member_z02R3TTg2G0k">1-877-771-3836</span>.</span></p>
Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.
www.EventideETFs.com
1-877-771-3836
Fund
Summary: Eventide US Market ETF
Investment
Objective:
<p id="xdx_A82_eoef--ObjectivePrimaryTextBlock_zDiU85Uxsx1h" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Eventide US Market ETF’s (the “US Market ETF” or the “Fund”)
investment objective is to seek long-term capital appreciation.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A84_eoef--ExpenseNarrativeTextBlock_zqpBSO6Und0k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares of the Fund. </span><b>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.</b></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8D_eoef--ShareholderFeesTableTextBlock_z0vLYjb9rjS1"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A53_dU_zjw5G9JpAfV5" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; vertical-align: top; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"></td>
<td id="xdx_498_20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_zirNPQyTjSU5" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; vertical-align: bottom; text-align: center; padding-right: 0pt; padding-left: 0pt"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_zzFVTIEXPAo1" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; padding-top: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; width: 85%; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholder
Fees <br/>
(fees paid directly from your investment)</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; vertical-align: bottom; width: 15%; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">None</span></td></tr>
</table>
<p style="margin: 0"> </p>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A85_eoef--AnnualFundOperatingExpensesTableTextBlock_zJnSWsqere2c"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zn4z3bU3HoG4" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt; width: 85%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</span></td>
<td id="xdx_498_20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_zzS8DHbgpmt9" style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_400_eoef--ManagementFeesOverAssets_dpn_zin22MNZpyzb" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
Fee<sup id="xdx_F47_zcXQIwW1t0Mj">(1)</sup></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.39%</span></td></tr>
<tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dpn_zH84dElQGoX4" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_401_eoef--OtherExpensesOverAssets_dpn_zA3RDupXwEEh" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zD1N3jmrvd8k" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">0.39%</span></td></tr>
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; padding-top: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt; text-indent: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-top: 0pt; text-align: center; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><sup id="xdx_F01_zLs3TcZlOAN9">(1)</sup></span></td><td><span id="xdx_F16_zPKI6sQun9p8" style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
management fee is structured as a “unified fee,” from which the Fund’s adviser pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.0039
0.0000
0.0000
0.0039
Example:
<p id="xdx_A85_eoef--ExpenseExampleNarrativeTextBlock_zapYJ04Ddz7k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example assumes
that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell all of your Shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A88_eoef--ExpenseExampleWithRedemptionTableTextBlock_zGX5HoKy6zh6"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zn0ZUD9NpVPj" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_483_eoef--ExpenseExampleYear01_zudYMm9AS3z3" style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_488_eoef--ExpenseExampleYear03_zdU5bXUYeMy" style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>3
Years</i></span></td>
<td id="xdx_488_eoef--ExpenseExampleYear05_zyjSNOpIdsLh" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>5
Years</i></span></td>
<td id="xdx_488_eoef--ExpenseExampleYear10_ztmTtolH5Q21" style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; width: 25%; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>10
Years</i></span></td></tr>
<tr id="xdx_41A_20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_z2MT2RUQqsJd" style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$40</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 0pt; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$125</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$219</span></td>
<td style="border-bottom: Black 1pt solid; padding-right: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0pt"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">$493</span></td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p>
40
125
219
493
Portfolio
Turnover:
<p id="xdx_A8B_eoef--PortfolioTurnoverTextBlock_zqdXuYqmmV7a" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">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. For the fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_90B_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zGBYWObg3TQ9">56%</span>.</span></p>
0.56
Principal
Investment Strategy:
<p id="xdx_A8A_eoef--StrategyNarrativeTextBlock_zIPMohKME347" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The Fund seeks to achieve its investment objective by investing, under normal market conditions, in a portfolio
of equity securities of United States (“U.S.”) companies, identified by Eventide Asset Management, LLC, the Fund’s investment
adviser (the “Adviser” ), as creating value for stakeholders (customers, employees, supply chain, community, environment, and
society) using the Adviser’s value-based screening criteria as more fully described below under “Faith-Based Screening.”
The Adviser actively manages the Fund using a long-only investment approach, and seeks to achieve its objective while reasonably limiting
tracking error to the Bloomberg U.S. 3000 Total Return Index (the “Strategy Benchmark”).</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font: normal 10pt Arial, Helvetica, Sans-Serif">Under
normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus the amount
of any borrowings for investment purposes) in the equity securities of companies domiciled in the United States. The Fund’s investment
in securities of issuers that are not domiciled in the United States, such as American Depository Receipts (“ADRs”) and the
ordinary stock of foreign issuers, is limited to a maximum of 20% of its net assets (plus the amount of any borrowings for investment
purposes). The equity securities that the Fund may invest in include common stock, Real Estate Investment Trusts (“REITs”),
ADRs, and the ordinary stock of foreign issuers, including those listed on U.S. stock exchanges and denominated in U.S. dollars. The
Fund may invest in companies of any market capitalization but will typically invest in companies with market capitalizations that fall
within the range of companies included in the Strategy Benchmark. <span>The market capitalization range
of companies within the Fund’s Strategy Benchmark is $5.5 million to $4.8 trillion as of </span>June <span>30,
</span>2026<span>.</span></span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Stock
selection is supported by the Adviser’s fundamental research, including the faith-based screening criteria described below. The
Adviser effects portfolio changes for the Fund on an ongoing basis as it deems necessary and appropriate, and may consider overall market
conditions and trading volumes when making investment decisions. The Fund will seek to maintain at least 100 issuers in its portfolio
in normal market conditions. The Adviser monitors the portfolio and uses research and quantitative modeling and risk tools to reasonably
adjust the active weight of portfolio securities in order to improve the Fund’s ability to meet its investment objective and reduce
active risk compared with its Strategy Benchmark. While actively managing the portfolio, the Adviser will utilize quantitative tools
as an input to the management of position sizes on a forward-looking basis, including to help mitigate the impact of individual sectors,
industries, and stylistic factors (e.g., quantitative factors such as growth, momentum, quality and value) on active risk and the Fund’s
ability to perform in a manner that is similar to the performance of the Strategy Benchmark before Fund fees and expenses.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Faith-Based
Screening</b>. The Adviser uses its proprietary screening methodology to analyze all potential investments for the company’s ability
to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below.
The values assessed in the Adviser’s screening process are inspired by the Christian faith and rooted in a biblical worldview. While
few companies may reach these ideals in every area of their business, these principles articulate the Adviser’s highest expectations
for the companies in which the Fund invests. The Adviser uses its screening processes in connection with other fundamental research processes
to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless
the Adviser believes that the faith-based screens are met. If the Adviser’s research identifies events and/or business changes suggesting
that a portfolio company no longer meets the faith-based criteria, the Fund may hold the company’s securities while the Adviser
performs additional research, including possible direct engagement with the company to assess practices. The Adviser’s faith-based
screening process for potential investments does not apply relative weights between values-based factors and financial factors. There
is no guarantee that the Adviser will be able to successfully screen out all companies that are inconsistent with the following principles
which help to guide the Adviser’s research and investment framework. Specifically, the Adviser seeks to invest in companies that
reflect the following values:</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Respecting
the value and freedom of all people: this includes the right to life at all stages and freedom from addictive behaviors caused by gambling,
pornography, tobacco, and alcohol.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Demonstrating
a concern for justice and peace: this includes fair and ethical relationships with customers, suppliers, and business partners and avoiding
products and services that promote weapons production and proliferation.</span></td>
</tr></table>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Promoting
family and community: this includes protecting children from violent forms of entertainment and serving low-income communities.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Exhibiting
responsible management practices: this includes fair dealing with employees, communities, competitors, suppliers, and customers as demonstrated
by a company’s record regarding litigation, regulatory actions against the company, and its record of providing products and services
that improve the lives of people.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Practicing
environmental stewardship: this includes practices considered more sustainable than those of industry peers, reduction in environmental
impact when compared to previous periods, and/or the use of more efficient and cleaner energy sources.</span></td>
</tr></table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
may be sold when the Adviser believes that they no longer represent relatively attractive investment opportunities or serve the Fund’s
principal investment strategy to track the Strategy Benchmark, or when the Adviser believes the underlying company is no longer consistent
with the Adviser’s faith-based values.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_gRBRTB-CF_z6T8Zj8kg9nj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its objective. Investment markets are unpredictable and there will be
certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset value
(“NAV”), market price and returns will vary, and you could lose money on your investment in the Fund and those losses could
be significant. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following identifies the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRsRiskMember_ztFzbQQ0NJml" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ADRs
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced
in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price
of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate
of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_z58Xb67bbSI4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zKHLBZ4DJHu4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><p id="xdx_A90_zGybsEvq7V98" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zxEgZR9Vwoq7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zff49HvNQKse" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines. </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ELICYF_zcSTI1mvFV77" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zyaw3W6aNHS">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zKoCDxZnwSJc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-JHS_zy9zlQnRflM4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div><p id="xdx_A9D_z9LFgdaeoKyj" style="margin-top: 0; margin-bottom: 0"> </p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day bid/ask spread of the Fund to
widen.</td></tr></table></div><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zceg4dj3Uzw9" style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0.25in; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Foreign
Investment Risk.</b> Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). The risks of investing in foreign securities are typically increased by investing in emerging
market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial
currency conversion costs.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z44ZEgemmeYl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_z4MFDvvZXIC5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zFv120YKWGNh" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zAW6QcH2nmQ7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p><p id="xdx_A9E_zTjdv5pmjpt6" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_z8YTG4i1Xbo1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zQDwqgvqnm3c" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zzgxFBfvk0l4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zTR634ZZKgm8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zTGfmUi7Urnk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zu8jQayhyOs9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zIj5crBgSz9k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Sector
Risk.</b> The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may
occur that significantly affect the sector. This may cause the Fund’s NAV to fluctuate more than that of a fund that does not focus in
a particular sector.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--SecurityRiskMember_zdcp4cekj3Zj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Security
Risk.</b> The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s
or an Underlying Fund’s portfolio.</span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_zJTvFnD1M2Ik" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p><p id="xdx_A9A_zgNPYlECM29e" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"> </p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_z5kJrgMgRzy4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p><p id="xdx_A98_z6p4wZqtLHc1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.” </i></span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRsRiskMember_ztFzbQQ0NJml" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ADRs
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. Although an ADR is priced
in the U.S. dollar, movements in the exchange rate of the local currency versus the U.S. dollar are automatically reflected in the price
of the ADR in U.S. dollars. Therefore, even if the price of the foreign security does not change on its market, if the exchange rate
of the local currency relative to the U.S. dollar declines, the ADR price would decline by a similar measure.</span></p><div id="xdx_C09_gRBRTB-CF_zOpYxfLSP3Vd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_z58Xb67bbSI4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”) and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, Shares of the
Fund may trade like closed-end fund shares at a discount to the Fund’s NAV per share and possibly face delisting by NYSE Arca, Inc.
(the “Exchange”). These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0D_gRBRTB-CF_zXfbQZQQOAPc"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zKHLBZ4DJHu4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zxEgZR9Vwoq7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The NAV and market price of the Fund will fluctuate based on changes in the value of the equity securities held
by the Fund. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to changing economic,
political or market conditions.</span></p><div id="xdx_C0F_gRBRTB-CF_zunWrz2Wuvz5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EthicalInvestmentRiskMember_zff49HvNQKse" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Ethical
Investment Risk.</b> The Fund’s ethical values screening criteria could cause it to underperform similar funds that do not have
such screening criteria. This could be due to ethically acceptable companies falling out of favor with investors or failing to perform
as well as companies that do not meet the Fund’s ethical screening guidelines. </span></p><div id="xdx_C02_gRBRTB-CF_zTlyQDPsprVd"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C06_gRBRTB-CF_zgi8Y5WPsOt5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">To
supplement its efforts in ethical investing, the Adviser may engage with portfolio companies to encourage consideration of corporate
strategies aligned with the Adviser’s values, including pricing and/or business practices that may be beneficial within particular
industries. The Adviser believes these activities will help promote ethical and effective corporate governance and long-term strategy
for companies, and potentially create a positive effect on the particular businesses and/or industries, their consumers, and the Fund.
There is no guarantee that the Adviser’s corporate engagements and related activities will achieve their intended results. There
is a risk that the Adviser’s activities in this regard could limit the Fund’s investment universe and reduce the amount of
profits that could be realized by affected companies, limiting the Fund’s investment returns. Furthermore, the U.S. government
or any agency thereof, may enact rules or legislation that, directly or indirectly, materially impacts the Adviser’s activities
in this regard, or materially affects the value of companies or opportunities for investment within particular industries.</span></p></div>
<div id="xdx_C0A_gRBRTB-CF_zPhSV1VSsNji"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-ELICYF_zcSTI1mvFV77" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund, and any ETFs the Fund may invest in, are structured as ETFs and as a result are subject to special risks,
including:</span></p><div id="xdx_C02_gRBRTB-CF_zdB0ujngY8Yc"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C06_gRBRTB-CF_zOGqFrA0VzJ1"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zyaw3W6aNHS">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div></div><div id="xdx_C0D_gRBRTB-CF_z6FD1izYzYO7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-CF_zJPQHcv7lDKj"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zKoCDxZnwSJc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-CF_zm9gjHd0pyx2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C03_gRBRTB-CF_zt5eskBE839i"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-JHS_zy9zlQnRflM4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C09_gRBRTB-CF_zplnl91g624k"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C00_gRBRTB-CF_zHs9vJYSE8Ph"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C0E_gRBRTB-CF_zb0DcIf5dRDl"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C07_gRBRTB-CF_zit3zxJAVFPj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C04_gRBRTB-CF_z0sDoeQRWUzb"><p id="xdx_A9D_z9LFgdaeoKyj" style="margin-top: 0; margin-bottom: 0"> </p></div><div id="xdx_C0C_gRBRTB-CF_zUc1oMKVsqMg"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div></div><div id="xdx_C0F_gRBRTB-CF_zQj7lZyU8rg5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-CF_zMy1aKxbIfX8"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day bid/ask spread of the Fund to
widen.</td></tr></table></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zyaw3W6aNHS">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Not
Individually Redeemable.</b> Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market and investors typically pay brokerage commissions or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-ELICYF_zWmx45D8JSHi"><div id="xdx_C0D_gRBRTB-CF_z6FD1izYzYO7"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zKoCDxZnwSJc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Trading
Issues.</b> Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for a Fund’s shares may not be developed or maintained. If the
Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-ELICYF_zu2YqpYqdzy4"><div id="xdx_C04_gRBRTB-CF_zm9gjHd0pyx2"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-JHS_zy9zlQnRflM4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Price Variance Risk.</b> The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid/ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-ELICYF_zYVmVMJ88204"><div id="xdx_C09_gRBRTB-CF_zplnl91g624k"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C07_gRBRTB-ELICYF_zxorTcV7vUqa"><div id="xdx_C00_gRBRTB-CF_zHs9vJYSE8Ph"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of
the Fund to widen.</span></td></tr></table></div></div></div>
<div id="xdx_C01_gRBRTB-ELICYF_zgCqxZCqOzg8"><div id="xdx_C0E_gRBRTB-CF_zb0DcIf5dRDl"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C03_gRBRTB-ELICYF_zZXsqOBw01vc"><div id="xdx_C07_gRBRTB-CF_zit3zxJAVFPj"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the result
that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected in the bid
and ask price for Fund shares or in the closing price.</span></td></tr></table></div></div></div>
<div id="xdx_C02_gRBRTB-ELICYF_z35gt3Xl3KC2"><div id="xdx_C04_gRBRTB-CF_z0sDoeQRWUzb"><p id="xdx_A9D_z9LFgdaeoKyj" style="margin-top: 0; margin-bottom: 0"> </p></div></div><div id="xdx_C07_gRBRTB-ELICYF_zp1FCpLxfez9"><div id="xdx_C0C_gRBRTB-CF_zUc1oMKVsqMg"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares is
open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could
lead to differences between the market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day
bid/ask spread of the Fund to widen.</td></tr></table></div></div></div><div id="xdx_C04_gRBRTB-ELICYF_ztqqXw6rgwd9"><div id="xdx_C0F_gRBRTB-CF_zQj7lZyU8rg5"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div></div><div id="xdx_C0E_gRBRTB-ELICYF_zyQbn80CDjO"><div id="xdx_C08_gRBRTB-CF_zMy1aKxbIfX8"><div><table cellpadding="0" cellspacing="0" style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">■</span></td><td><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of
the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s NAV, </span>which could cause the intra-day bid/ask spread of the Fund to
widen.</td></tr></table></div></div></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zceg4dj3Uzw9" style="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: 0.25in; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Foreign
Investment Risk.</b> Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). The risks of investing in foreign securities are typically increased by investing in emerging
market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by substantial
currency conversion costs.</span></p><div id="xdx_C04_gRBRTB-CF_zBhMbTppMfY"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialsSectorRiskMember_z44ZEgemmeYl" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Industrials
Sector Risk.</b> The value of securities issued by companies in the industrials sector may be adversely affected by supply and demand
related to their specific products or services and industrials sector products in general. The products of manufacturing companies may
face obsolescence due to rapid technological developments and frequent new product introduction. Government regulations, world events,
economic conditions and exchange rates may adversely affect the performance of companies in the industrials sector. Companies in the
industrials sector may be adversely affected by liability for environmental damage and product liability claims. Companies in the industrials
sector, particularly aerospace and defense companies, may also be adversely affected by government spending policies because companies
involved in this sector rely to a significant extent on government demand for their products and services.</span></p><div id="xdx_C08_gRBRTB-CF_z4PK0bWyN1xa"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_z4MFDvvZXIC5" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Investment
Style Risk.</b> The type of securities in which the Fund focuses may underperform other assets or the overall market.</span></p><div id="xdx_C03_gRBRTB-CF_zkw3ti5wK3N9"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zFv120YKWGNh" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Issuer
Specific Risk.</b> The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline. The
value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole. The value of securities of smaller issuers can be more volatile than those of larger issuers. The value of certain types
of securities can be more volatile due to increased sensitivity to adverse issuer, political, regulatory, market, or economic developments.
Market prices of securities in broad market segments may be adversely affected by a prominent issuer having experienced losses, lack
of earnings, failure to meet the market’s expectations with respect to new products or services, or even by factors wholly unrelated
to the value or condition of the issuer, such as changes in interest rates.</span></p><div id="xdx_C04_gRBRTB-CF_z0WtKNawcab6"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zAW6QcH2nmQ7" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>The Fund’s investment in larger companies is subject to the risk that larger companies are sometimes
unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion; and
may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes.</span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedHistoryOfOperationsRiskMember_z8YTG4i1Xbo1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Limited
History of Operations Risk.</b> The Fund has a limited history of operations for investors to evaluate.</span></p><div id="xdx_C05_gRBRTB-CF_ziEGbcFixLNj"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zQDwqgvqnm3c" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Management
Risk.</b> The Adviser’s reliance on its sector allocation and risk management strategies and related judgments about the value
and potential appreciation of securities in which the Fund invests may prove to be incorrect. The Adviser may not successfully implement
the Fund’s investment strategies and, as a result, the Fund may not meet its investment objective and/or underperform other investment
vehicles with similar investment objectives and strategies.</span></p><div id="xdx_C09_gRBRTB-CF_zXSZI4e6Lk1c"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zzgxFBfvk0l4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Factors such as domestic and foreign economic growth rates and market
conditions, interest rate levels, trading and tariff events and political events may adversely affect the securities markets.</span></p><div id="xdx_C02_gRBRTB-CF_zt2CUQsmdJGb"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zTR634ZZKgm8" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. These companies may experience
higher failure rates than larger companies. Mid- sized companies normally have a lower trading volume than larger companies, which may
tend to make their market price fall more disproportionately than larger companies in response to selling pressures. Mid-sized companies
may also have limited markets, product lines or financial resources and may lack management experience.</span></p><div id="xdx_C02_gRBRTB-CF_z3hPO4q43zkh"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zTGfmUi7Urnk" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Real
Estate Risk.</b> The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C00_gRBRTB-CF_zhaVnMqDEH41"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zu8jQayhyOs9" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>REIT
Risk.</b> The Fund’s investments in REITs are subject to the same risks as direct investments in real
estate, including sensitivity to general economic downturns and the volatility of local real estate markets. REITs may have limited financial
resources and their securities may trade infrequently and in limited volume, and thus they may be more volatile than other securities.
The liquidity of REITs may change dramatically over time.</span></p><div id="xdx_C0C_gRBRTB-CF_zzNxEgifAD87"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_zIj5crBgSz9k" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Sector
Risk.</b> The Fund may focus its investments in securities of a particular sector. Economic, legislative or regulatory developments may
occur that significantly affect the sector. This may cause the Fund’s NAV to fluctuate more than that of a fund that does not focus in
a particular sector.</span></p><div id="xdx_C04_gRBRTB-CF_zKx3AyCeHPTf"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--SecurityRiskMember_zdcp4cekj3Zj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Security
Risk.</b> The value of the Fund may decrease in response to the activities and financial prospects of an individual security in the Fund’s
or an Underlying Fund’s portfolio.</span></p><div id="xdx_C07_gRBRTB-CF_zGyNJRWfcCog"><p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallCapitalizationCompanyRiskMember_zJTvFnD1M2Ik" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Small
Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of smaller-sized companies, the Fund may be subject to
additional risks. The earnings and prospects of these companies are more volatile than larger companies. Smaller-sized companies may
experience higher failure rates than do larger companies. The trading volume of securities of smaller-sized companies is normally less
than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response
to selling pressure than is the case with larger companies. Smaller-sized companies may have limited markets, product lines or financial
resources and may lack management experience.</span></p>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--TechnologySectorRiskMember_z5kJrgMgRzy4" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b>Technology
Sector Risk.</b> Technology companies face intense competition, both domestically and internationally, which may have an adverse effect
on profit margins. Technology companies may have limited product lines, markets, financial resources or personnel. The products of technology
companies may face obsolescence or adoption challenges due to rapid technological developments and frequent new product introduction,
unpredictable changes in growth rates and competition for the services of qualified personnel. Companies in the technology sector can
be heavily dependent on patent and intellectual property rights. The loss or impairment of these rights may adversely affect the profitability
of these companies. Investments in this sector can be highly volatile. Their values may be adversely affected by such factors as, for
example, rapid technological change, changes in management personnel, changes in the competitive environment, and changes in investor
sentiment.</span></p>
Performance:
<p id="xdx_A89_eoef--PerformanceNarrativeTextBlock_zwZU96Ko9EMj" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><b></b><span id="xdx_907_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zr0FJXV7WJ09">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its Shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zWETLjIz3b7h">How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.</span> Updated performance information is available at no cost at <span style="text-decoration: underline"><span id="xdx_908_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zpHFN7Xq5NLe">www.EventideETFs.com</span></span> or by calling <span id="xdx_90B_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zfN0hBXtUgJ7">1-877-771-3836</span>.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its Shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication of how it will perform
in the future.
www.EventideETFs.com
1-877-771-3836
Annual
Total Returns
Eventide
US Market Fund Total Returns for the Years Ended December 31
<div id="xdx_A8C_eoef--BarChartTableTextBlock_zDStrJGsduo7"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zdsHcTAwBOU2" style="font: 10pt Arial, Helvetica, Sans-Serif; display: none; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: center">
<td style="text-align: center; width: 50%"> </td>
<td id="xdx_49D_20250101__20251231_zNtfkvZt7kRa" style="text-align: center; width: 50%">2025</td></tr>
<tr id="xdx_403_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_zzCTXtW732Zf" style="vertical-align: top; text-align: center">
<td> </td>
<td>12.19%</td></tr>
</table>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><img alt="(BAR GRAPH)" src="st008_v1.jpg"/></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; text-indent: 0in"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
0.1219
<p id="xdx_A8A_eoef--BarChartClosingTextBlock_zASaaGuRO057" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zyeZdOzNdpBk">the highest return for a quarter</span> was <span id="xdx_90C_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zA9nF31auHle">10.40%</span> (quarter ended <span id="xdx_906_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zOismUEobU39">June 30, 2025</span>), and <span id="xdx_909_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zqkssos0bi7c">the lowest return for
a quarter</span> was <span id="xdx_908_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zvfIe8BEQCff">(2.50)%</span> (quarter ended <span id="xdx_909_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zF2RhNxxuVE4">March 31, 2025</span> ).</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90D_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zkdNk1K1faT3">The
Fund’s year-to-date return</span> as of <span id="xdx_904_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zalRFU4eahkh">June 30, 2026</span> was <span id="xdx_902_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_z2q9Ew0dsLil">14.32%</span>.</span></p>
<p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></p>
the highest return for a quarter
0.1040
2025-06-30
the lowest return for
a quarter
-0.0250
2025-03-31
The
Fund’s year-to-date return
2026-06-30
0.1432
Average
Annual Total Returns (periods ended December 31, 2025)
<div id="xdx_A88_eoef--PerformanceTableTextBlock_zUN4y69CCQcj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zoot4eza6xzk" style="font: 10pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-bottom: Black 1pt solid; white-space: nowrap; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; width: 70%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"> </span></td>
<td id="xdx_49D_20250101__20251231_zcX5rWQFlkRe" style="border-bottom: Black 1pt solid; white-space: nowrap; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>1
Year</i></span></td>
<td id="xdx_491_20241217__20251231_zP6LOdgjWi48" style="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; white-space: nowrap; vertical-align: top; text-align: center; width: 15%"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i>Since
Inception</i></span><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><i><br/>
(<span id="xdx_90C_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_zvveVNNGJXZ6">December 17, 2024</span>)</i></span></td></tr>
<tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_zoyK49qfbsmk" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_908_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member_zwnyFsx3Ptbc">Return
Before Taxes</span></span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">12.19%</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.47%</span></td></tr>
<tr id="xdx_40F_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zLp1N5zcK8rc" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">11.95%</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">8.23%</span></td></tr>
<tr id="xdx_406_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000089355Member__oef--ClassAxis__custom--C000255876Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zXQupDAayPT" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">7.38%</span></td>
<td style="font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">6.44%</span></td></tr>
<tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000089355Member__oef--PerformanceMeasureAxis__custom--BloombergUS3000TotalReturnIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_z1OofY4y8UGg" style="font: 10pt Arial, Helvetica, Sans-Serif">
<td style="border-top: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: top"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Bloomberg
US 3000 Total Return Index (<span id="xdx_900_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zKfKCn2xngAf">reflects no deduction for fees, expenses or taxes</span>)</span></td>
<td style="border-top: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">17.21%</span></td>
<td style="border-top: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; vertical-align: bottom; text-align: center"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">13.12%</span></td></tr>
</table>
2024-12-17
Return
Before Taxes
0.1219
0.0847
0.1195
0.0823
0.0738
0.0644
reflects no deduction for fees, expenses or taxes
0.1721
0.1312
<p id="xdx_A89_eoef--PerformanceTableClosingTextBlock_z9pmyQiendA1" style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><span style="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><span id="xdx_90B_eoef--PerformanceTableUsesHighestFederalRate_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zeblf20SfFOa">After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.</span> <span id="xdx_904_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260827__20260827__dei--LegalEntityAxis__custom--S000089355Member_zJOOvXBXFiM5">Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to Shares held by non-taxable entities.</span></span></p>
After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to Shares held by non-taxable entities.
FUND
SUMMARY – STRATEGY SHARES GOLD ENHANCED YIELD ETF
Investment
Objective:
<p id="xdx_A85_eoef--ObjectivePrimaryTextBlock_zWSsnVtneOT4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s investment objective is to seek income and long-term capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A82_eoef--ExpenseNarrativeTextBlock_zJMDGiPqZIw" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A8B_eoef--ShareholderFeesTableTextBlock_zz1WN0kSA8P8"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_ziOiCsF9Dlhe" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; border-left: black 1pt solid"></td>
<td id="xdx_495_20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_z9QqBTKXKODc" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"></td></tr>
<tr id="xdx_40E_eoef--ShareholderFeeOther_dn_z8KRXXpRsew9" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; width: 80%; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td colspan="2" style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A88_eoef--AnnualFundOperatingExpensesTableTextBlock_zIIOYJz60vHf"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_z80AjqArPRQ5" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_495_20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_zjYFLMMRb1vl" style="border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"> </td></tr>
<tr id="xdx_40B_eoef--ManagementFeesOverAssets_dpn_zJLCEkksUq1a" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; border-left: black 1pt solid; width: 80%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee<sup id="xdx_F47_zbgBFKSX9ph5">(1)</sup></span></td>
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.79%</span></td></tr>
<tr id="xdx_40B_eoef--DistributionAndService12b1FeesOverAssets_dpn_z0wWvBIXdBb4" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40E_eoef--OtherExpensesOverAssets_dpn_z5uSGuDPOnk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40D_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_z6o4q770nVa1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F44_zbDaTABAbPd">(2) (3)</sup></span></td>
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.11%</span></td></tr>
<tr id="xdx_40C_eoef--ExpensesOverAssets_dpn_zkiRVgUiNir8" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.90%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F0C_zmUVD4SaFiYl">(1)</sup></span></td><td style="text-align: justify"><span id="xdx_F18_zyyCg2aj8lJ4" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
management fee is structured as a “unified fee,” out of which the Fund’s investment
adviser, Rational Advisors, Inc. (the “Advisor”), pays all routine expenses of
the Fund, except for the Fund’s management fee; payments under any 12b-1 plan; taxes;
brokerage commissions and trading costs; interest (including borrowing costs and overdraft
charges); short sale dividends and interest expenses; acquired fund fees and expenses; and
non-routine or extraordinary expenses of the Fund (such as litigation or reorganizational
costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F06_zTgHp0kQEDg2">(2)</sup></span></td><td style="text-align: justify"><span id="xdx_F1C_zlCRaCZao9db" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies. <span id="xdx_902_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_z2iupWLqDQCl">The total annual fund operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F00_zX6gShOr2xr6">(3)</sup></span></td><td style="text-align: justify"><span id="xdx_F1B_zY1fdMMQbWJk" style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><span id="xdx_904_eoef--AcquiredFundFeesAndExpensesBasedOnEstimates_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zXUdAZFSWKdh">Estimated
for the current fiscal year</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0079
0.0000
0.0000
0.0011
0.0090
The total annual fund operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
Estimated
for the current fiscal year
Example:
<p id="xdx_A8B_eoef--ExpenseExampleNarrativeTextBlock_zMmuv2UtoQ4h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_z00pc3hDYKSl"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A54_dU_zAy529vtWmFb" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 80%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="width: 2%"> </td>
<td id="xdx_487_eoef--ExpenseExampleYear01_zH8EXKAnKWdg" style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding: 1pt 5pt; width: 24.5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_480_eoef--ExpenseExampleYear03_zMpDvoA1bxRk" style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 24.5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_48F_eoef--ExpenseExampleYear05_zqAO0ndN2Ao8" style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 24.5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_48B_eoef--ExpenseExampleYear10_z0k13zSgHTF8" style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 24.5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_410_20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_zB6U9ZgpRlaf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: center; padding: 1pt 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$92</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$287</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$498</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,108</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
92
287
498
1108
Portfolio
Turnover:
<p id="xdx_A80_eoef--PortfolioTurnoverTextBlock_zzhg4M90kps2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. For the fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_90D_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zArMf8jU9rsi">100%</span> of the average value of its
portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
1
Principal
Investment Strategy
<p id="xdx_A82_eoef--StrategyNarrativeTextBlock_zI1785lYZQMe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund seeks to achieve its investment objective through its exposure to:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">corporate
bonds, U.S. treasury securities and corporate bond exchange traded funds (“ETFs”) (the “Bond Component”);</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">gold
futures contracts (the “Gold Component”); and</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">●</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">commodity
futures contracts and put options on commodity futures contracts that provide long and short economic exposure to energy and precious
metals (including gold) commodities (the “Commodity Basket Component”).</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund seeks to gain exposure to gold and other commodity futures contracts, and put options on gold and other commodity futures contracts,
by investing directly or indirectly through total return swaps. Such investments will be made indirectly through the Fund’s Subsidiary
(as described below). The Subsidiary will also hold cash and cash equivalents, such as U.S. Treasury securities, as collateral for the
Fund’s futures, put options, and total return swap investments. Under normal circumstances, the Fund will invest at least 80% of
its net assets (plus borrowings for investment purposes) in investments that provide exposure to gold. For purposes of this policy, “gold”
includes gold futures contracts, total return swaps on gold futures contracts, and other derivatives that provide exposure to the price
of gold. For purposes of determining compliance with this 80% investment policy, the Fund will value derivatives using their notional
amounts, with certain adjustments, rather than market value.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Bond
Component</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Bond Component of the Fund’s portfolio seeks returns to generate income by investing in U.S. dollar-denominated, domestic and foreign
corporate bonds, U.S. Treasury securities, and/or corporate bond ETFs. Corporate bonds that the Bond Component may hold include “Rule
144A” securities, which are subject to resale restrictions. The corporate bonds selected for investment by the Fund have remaining
time to maturity of at least 18 months, and are rated no lower than investment grade (at least BBB- / Baa3) by S&P Global Ratings,
or the equivalent by another nationally recognized statistical rating organization at the time of investment. The Fund will sell any
bonds in its portfolio that have been downgraded to below investment grade. The Fund may invest in U.S. Treasury securities without restriction
as to time to maturity. The Advisor uses quantitative and qualitative screening processes to select bonds for investment by the Fund.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Advisor’s quantitative screen focuses on credit metrics, including total leverage ratio (total debt/earnings before interest, taxes,
depreciation and amortization (“EBITDA”)), EBITDA interest coverage ratio (EBITDA/interest expense), and cash ratio (cash
and equivalents/current liabilities). The Advisor’s qualitative review involves an analysis of company fundamentals, including
business model, competitive advantages, cyclicality of the underlying industry, and addressable market opportunity. The Advisor generally
sells bonds if it believes the bonds no longer offer favorable risk-adjusted return potential.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
corporate bond ETFs that the Fund may invest in are designed to provide broad exposure to U.S. dollar-denominated investment grade corporate
bonds issued by domestic and foreign corporate issuers. The ETFs selected for investment by the Fund have an average duration of at least
18 months, and have investment mandates that focus on U.S. dollar-denominated investment grade corporate bonds that are rated no lower
than investment grade (at least BBB- / Baa3) by S&P Global Ratings, or the equivalent by another nationally recognized statistical
ratings organization.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Gold
Component</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Gold Component seeks capital appreciation. The Component seeks to track the performance of the near month gold futures contracts listed
on the Chicago Mercantile Exchange. A near month gold futures contract is the futures contract that is closest to expiration. As the
futures contracts approach their expiration dates, they are replaced by distant month gold futures contracts that are similar contracts
that have a later expiration. This process is referred to as “rolling.” The Fund achieves exposure to the near month gold
futures contracts by investing directly in gold futures contracts or indirectly through investment in over-the-counter total return swaps.
The process of rolling futures contracts may subject the Fund to additional costs based on the difference in price of expiring and next-month
futures contracts. To the extent that the Fund obtains exposure to gold futures contracts through a total return swap, it does not roll
futures contracts or incur roll costs directly. The return of the underlying gold futures contracts delivered through the swap reflects
these price differences, which may affect the Fund’s performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Commodity
Basket Component</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Commodity Basket Component seeks the returns generated from the purchase and sale of futures contracts and the sale of put options on
energy and precious metals (including gold) commodity futures contracts by investing directly in such commodity futures contracts or
indirectly through total return swaps to gain exposure to such positions. While the Commodity Basket Component may invest without restriction
in futures contracts and put options on energy and precious metals commodity futures, the Advisor expects that the Commodity Basket Component
will predominantly write put options on gold futures contracts. The objectives of the Commodity Basket Component are to: (i) obtain exposure
to the futures contracts of the commodities that the Advisor believes are undervalued, and to sell-short, or obtain exposure to, the
futures contracts of the commodities that the Advisor believes are overvalued; and (ii) generate additional returns by collecting option
premiums through the sale of put options on commodity futures contracts. The put writing strategy performs well when commodity futures
contract prices remain stable or increase, but incurs losses when commodity futures contract prices decline below the put option strike
price.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">It
is expected that the Fund will have approximately 100% market value exposure to the Bond Component, 100% notional exposure to the Gold
Component and between 10% and 100% notional exposure to the Commodity Basket Component. For example, if the Fund has $100 in assets,
then the Fund expects to achieve $100 of market value exposure to the Bond Component (akin to having $100 gross and net exposure to fixed
income securities), $100 of notional exposure to the Gold Component (akin to having $100 gross and net exposure to gold), and $10 to
$100 of notional exposure to the Commodity Basket Component (akin to having up to $100 of gross and net exposure to a Fund which invests
in a commodities strategy). Futures contracts and over-the-counter total return swaps do not require up-front payments equal to the notional
exposure represented by such instruments, which enables the Fund to obtain approximately 100% notional exposure to the Gold Component
and up to 100% notional exposure to the Commodity Basket Component. The amount of exposure to the Commodity Basket Component is determined
at the Adviser’s discretion based on conditions in the energy and precious metals markets. Because the Fund will achieve such notional
exposure to each of the Gold Component and the Commodity Basket Component through leverage, the Fund could sustain significant losses.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund is classified as “non-diversified” for purposes of the Investment Company Act of 1940, as amended (the “1940 Act”),
which means a relatively high percentage of the Fund’s assets may be invested in the securities of a limited number of issuers.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund actively trades its portfolio investments, which may lead to higher transaction costs that may affect the Fund’s performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Investments
in Subsidiary</span> – The Advisor executes a portion of the Fund’s strategy by investing up to 25% of the Fund’s total
assets in a wholly owned and controlled subsidiary (the “Subsidiary”). The Subsidiary invests the majority of its assets
in futures contracts, put options on futures contracts, and over-the-counter total return swaps. The Subsidiary is subject to the same
investment restrictions as the Fund, when viewed on a consolidated basis. The Subsidiary is SSGBI Fund Limited, a Cayman Islands company.
The Subsidiary is advised by the Advisor.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Distribution
Policy</span> – In order to allow shareholders of the Fund to realize a predictable, but not assured, level of cash flow, the Fund
has adopted a policy (which may be modified at any time by its Board of Trustees) to pay monthly distributions on Fund shares at a specific
target rate to be determined at the discretion of management. Shareholders receiving periodic payments from the Fund may be under the
impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Return
of capital is the portion of a distribution that is a return of your original investment dollars in the Fund. Shareholders should not
assume that the source of a distribution from the Fund is net profit. For more information about the Fund’s distribution policy,
please turn to “Additional Information About the Fund’s Principal Investment Strategies and Related Risks – Principal
Investment Strategies –Distribution Policy and Goals” section in the Fund’s Prospectus.</span></p>
<p id="xdx_A85_eoef--RiskTextBlock_gRBRTB-AJQE_zKPuvbR46e81" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its investment objective. Investment markets are unpredictable and there
will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset
value, market price and returns will vary and you could lose money on your investment in the Fund, and those losses could be significant.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any
other government agency, nor is it a complete investment program.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, market price,
total return and value of the Fund and your investment.</span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveTradingRiskMember_zTadU9WpDFrl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active
Trading Risk.</b> The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance)
and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Under certain market
conditions, the Fund’s turnover may be very high and considerably higher than that of other funds.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zVK5RCZiyL7k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders, and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to NAV, and possibly face delisting by the CBOE BZX Exchange (the “Exchange”).
These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zCxwqxZp0aI7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk</b>. At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance, and the Fund may not achieve its investment objective.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashTransactionsRiskMember_zsZECwCGAeJa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
Transactions Risk</b>. ETFs generally are able to make in-kind redemptions and avoid being taxed on gains on the distributed portfolio
securities at the Fund level. Because the Fund may effect redemptions partly or entirely in cash, rather than in-kind, it may be required
to sell portfolio securities in order to obtain the cash needed to distribute redemption proceeds. If the Fund recognizes gain on these
sales, this generally will cause the Fund to recognize gain it might not otherwise have recognized, or to recognize such gain sooner
than would otherwise be required if it were to distribute portfolio securities in-kind. The Fund generally intends to distribute these
gains to shareholders to avoid being taxed on this gain at the Fund level and otherwise comply with the special tax rules that apply
to it. This strategy may cause shareholders to be subject to tax on gains they would not otherwise be subject to, or at an earlier date
than if they had made an investment in a different ETF.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_zOVDPJ9202Va" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> The future direction of interest rates is uncertain. If interest rates rise, there is risk that
rates across the financial system also may rise. Changes in government intervention may have adverse effects on the Fund’s investments,
volatility, and illiquidity in debt markets. Interest rate increases could cause the value of the Fund to decrease. Federal Reserve policy
changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which
could cause the value of a Fund’s investments and share price to decline. If a Fund invests in derivatives tied to fixed-income
markets, the Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives. To the extent a Fund
experiences high redemptions because of these policy changes, the Fund may experience increased portfolio turnover, which will increase
the costs the Fund incurs and may lower its performance. Furthermore, if rising interest rates cause a Fund to lose enough value, the
Fund could also face increased redemptions, which could force the Fund to liquidate investments at disadvantageous times or prices, thereby
adversely affecting the Fund. In addition, decreases in fixed income dealer market-making capacity may persist in the future, potentially
leading to decreased liquidity and increased volatility in the fixed income markets.</span></p><p id="xdx_A99_z28Yyps41hIf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommodityRiskMember_zFS53yFjtZ34" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commodity
Risk. </b>Exposure to the commodities markets may subject a fund to greater volatility than investments in traditional securities. Commodity
prices may be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors, as well as changes in
government regulation, such as tariffs, embargoes or burdensome production rules and restrictions. The Commodity Basket Component will
invest in energy and industrial metals/precious metals commodities. Please see “Energy Sector Risk”, “Industrial Metals
Sector Risk” and “Precious Metals Sector Risk” below.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommodityTaxRiskMember_zklXWGAwjATj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commodity
Tax Risk. </b>The tax treatment of commodity-linked derivative instruments 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
derivatives was treated as non-qualifying income, the Fund might fail to qualify as a regulated investment company and be subject to
federal income tax at the Fund level, and all distributions from earnings and profits, including any distribution of net tax-exempt income
and net long-term capital gains, would be taxable to Fund shareholders as ordinary income. Should the Internal Revenue Service issue
further guidance, or Congress enact legislation, that adversely affects the tax treatment of the Subsidiary (which guidance might be
applied to the Fund retroactively), it could, among other consequences, limit the Fund’s ability to pursue its investment strategy.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--CounterpartyRiskMember_zxWqjAa47D23" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Counterparty
Risk. </b>The Fund may engage in transactions in securities and financial instruments that involve counterparties. Counterparty risk
is the risk that a counterparty (the other party to a transaction or an agreement, or the party with whom the Fund executes transactions)
to a transaction with the Fund may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise honor
its obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskMember_zXMgHDebtbEf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk</b>. Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the
Fund’s total return. There is a risk that issuers will not make payments on fixed income securities held by the Fund, resulting
in losses to the Fund. In addition, the credit quality of fixed income securities held by the Fund may be lowered if an issuer’s
financial condition changes. The issuer of a fixed income security may also default on its obligations.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_gRBRTB-XO_z7fbkP7AbQXg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk.</b> The performance of a derivative instrument depends largely on the performance of an underlying instrument, such as a currency,
security, rate or index. In addition, the use of derivative instruments involves risks different from, or possibly greater than, the
risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty
to a derivative transaction may be unwilling or unable to fulfill its contractual obligations; (ii) the risk of mispricing or improper
valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying reference asset.
Derivatives can also create leverage risk because they do not require payment up front equal to the economic exposure created by holding
a position in the derivative. As a result, an adverse change in the value of the underlying asset could result in the Fund sustaining
a loss that is substantially greater than the amount invested in the derivative or the anticipated value of the underlying asset, which
may make the Fund’s returns more volatile and increase the risk of loss. Derivative instruments may be less liquid than more traditional
investments, and the Fund may be unable to sell or close out its derivative positions at a desirable time or price. This risk may be
more acute under adverse market conditions, during which the Fund may be most in need of liquidating its derivative positions. Additionally,
the Fund’s obligation to make payments of margin, collateral, or settlement payments to counterparties may heighten liquidity demands
on the Fund’s portfolio. Derivatives may be less tax efficient and subject to changing government regulation that could impact
the Fund’s ability to use certain derivatives or their cost. When a derivative is used for hedging, the change in value of the
derivative may also not correlate specifically with the risk of the underlying asset being hedged. Derivatives are subject to the risk
of adverse market movements and the risk that markets could experience a change in volatility that adversely impacts Fund returns and
the Fund’s obligations and exposures. Derivative prices are highly volatile and may fluctuate substantially during a short period
of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to, changing supply and demand
relationships; government programs and policies; national and international political and economic events; geopolitical conflicts; changes
in interest rates; and inflation and deflation. Derivatives are also subject to operational risk, including potential documentation issues,
settlement issues, systems failures, inadequate controls and human error, as well as legal risks arising from insufficient documentation,
insufficient capacity or authority of counterparty, or the legality or enforceability of a contract. Derivatives strategies may not be
successful, and their successful use will depend on the portfolio managers’ ability to accurately forecast movements in the market
relating to the underlying asset.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_zOhrFJLBNlZk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk.</i> Investments in futures contracts involve leverage, which means a small percentage of assets invested in futures contracts can
have a disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. In
addition, futures contracts may become mispriced or improperly valued relative to the Advisor’s expectations and may not produce
the desired investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the
underlying reference asset because of temporary, or even long-term, supply and demand imbalances, and because futures contracts do not
pay dividends.</span></td>
</tr></table></div><div id="xdx_C07_gRBRTB-XO_zwZaujZ5HJO5"><p id="xdx_A90_zCoUtdZmJ2df" style="margin-top: 0; margin-bottom: 0"> </p></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlike
equities, which typically entitle the holder to a continuing stake in a corporation, futures contracts normally specify a certain date
for settlement in cash based on the reference asset. As the futures contracts approach expiration, they may be replaced by similar contracts
that have a later expiration. This process is referred to as “rolling.” The actual realization of a potential roll cost will
be dependent upon the difference in price of the near and distant contract. Because the margin requirement for futures contracts is less
than the value of the assets underlying the futures contract, futures trading involves a degree of leverage. As a result, a relatively
small price movement in a futures contract may result in immediate and substantial loss to the Fund, which could significantly adversely
affect the Fund’s performance.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageAndVolatilityRiskMember_zEcGxfJJkEu5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
and Volatility Risk. </i>Derivative contracts ordinarily have leverage inherent in their terms, meaning that the Fund can obtain significant
investment exposure in return for meeting a relatively small margin or other investment requirement. The low margin deposits normally
required in trading derivatives permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate
and substantial loss to the Fund, potentially in excess of the amounts invested or borrowed. The use of leverage may also cause the Fund
to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations or to meet collateral
segregation requirements. The use of leveraged derivatives can magnify the Fund’s potential for gain or loss and, therefore, amplify
the effects of market volatility on the Fund’s share price.</span></td>
</tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_z61PV3UMMJo1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity
Risk</i>: It is possible that particular derivative investments might be difficult to purchase or sell, possibly preventing the Fund
from executing positions at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable
times or prices in order to satisfy its obligations.</span></td>
</tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zBpSwKBPbVGh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk</i>. Markets for options and options on futures contracts may not always operate on a fair and orderly basis. At times, prices
for options and options on futures contracts may not represent fair market value and prices may be subject to manipulation, which may
be extreme under some circumstances. The dysfunction and manipulation of volatility of options markets may make it difficult for a fund
to effectively implement its investment strategy and achieve its investment objectives, and could potentially lead to significant losses.</span></td>
</tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zMRo2JE6vyL8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk</i>. There are risks associated with the Fund’s exposure to options. As a seller (writer) of a put option, the Fund will lose
money if the value of the underlying reference instrument falls below (written put option) the respective option’s strike price.
The Fund’s losses are potentially large in a written put transaction.</span></td>
</tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OverTheCounterOTCTradingRiskMember_ziawzzm1Qryc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Over-the-Counter
(“OTC”) Trading Risk.</i> Certain of the derivatives in which the Fund may invest may be traded (and privately negotiated)
in the OTC market. While the OTC derivatives market is the primary trading venue for many derivatives, it is largely unregulated. As
a result, and similar to other privately negotiated contracts, the Fund is subject to counterparty credit risk with respect to such derivative
contracts.</span></td>
</tr></table></div><p id="xdx_A9E_z9uYW8kE5cc2" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_C0A_gRBRTB-XO_zRJRBdqOA698"><div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--TotalReturnSwapRiskMember_zlwfhI4mju54">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Total
Return Swap Risk </i>Total return swaps are subject to tracking risk because they may not be perfect substitutes for the instruments
they are intended to replace. Total return over the counter swaps are subject to counterparty default. Leverage inherent in derivatives
will tend to magnify the Fund’s losses. The Fund’s use of swaps involves risks different from, or possibly greater than,
the risks associated with investing directly in securities and other traditional investments, and exposes the Fund to the risks associated
with derivative instruments described above. In a standard “swap” transaction, two parties agree to exchange the returns,
differentials in rates of return or some other amount earned or realized on the “notional amount” of predetermined investments
or instruments, which may be adjusted for an interest factor. Certain derivatives risks are heightened with respect to over-the-counter
(“OTC”) derivative instruments, like certain swap agreements, and may be greater during volatile market conditions. Such
risks include the risk of leverage (i.e., the risk that an adverse change in the value of the underlying asset could result in the Fund
sustaining a loss that is substantially greater than the amount invested in the derivative or the anticipated value of the underlying
asset), counterparty risk (i.e., the risk of a counterparty’s unwillingness or inability to perform its obligations, including
as a result of bankruptcy), credit risk (i.e., the risk that the issuer of the underlying asset may default on its obligations), and
pricing risk (i.e., swaps may be difficult to value).</span></td>
</tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--DistributionPolicyRiskMember_zpjMCEDYuIQ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Distribution
Policy Risk. </b>Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits.
However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should
not assume that the source of a distribution from the Fund is net profit. Any capital returned to investors through distributions will
be distributed after payment of Fund fees and expenses. Shareholders should note that return of capital will reduce the tax basis of
their shares and potentially increase the taxable gain, if any, upon disposition of their shares. For more information, please refer
to the section of the Fund’s prospectus entitled “Tax Consequences”.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zjy13BC7fpgh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duration
Risk. </b>Longer-term fixed-income securities may be more sensitive to interest rate changes, particularly in periods of rising interest
rates. Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration
may tend to understate the drop in a security’s price. If rates drop significantly, effective duration may tend to overstate the
rise in a security’s price.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergySectorRiskMember_zQUgqFX0jVSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Energy
Sector Risk. </b>The Fund’s exposure to the energy sector will result in the performance of the Fund being relatively corelated
to, and affected by, developments in the energy sector, such as the possibility that government regulation will negatively impact companies
in this sector. Energy entities are subject to the risks specific, but not limited, to the following:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
in commodity prices;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduced
volumes of natural gas or other energy commodities available for transporting, processing, storing or distributing;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
construction risk and acquisition risk, which can limit potential growth;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
sustained reduced demand for crude oil, natural gas and refined petroleum products resulting from a recession or an increase in market
price or higher taxes;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depletion
of the natural gas reserves or other commodities, if not replaced;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
in the regulatory environment;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Extreme
weather;</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rising
interest rates, which could result in a higher cost of capital and drive investors into other investment opportunities; and</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Threats
of attack by terrorists.</span></td>
</tr></table><p id="xdx_A97_zIuymRjNnvL7" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFRiskMember_zxWxAsXdeIwf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Risk. </b>Like a mutual fund, the value of an ETF can fluctuate based on the prices of the securities owned by the ETF. Because the Fund
may invest its assets in ETFs that have their own fees and expenses in addition to those charged directly by the Fund, the Fund may bear
higher expenses than a fund that invests directly in individual securities. By investing in other ETFs, the Fund will be subject to the
risks associated with the underlying investments of such ETFs. ETFs are also subject to the risks described under “ETF Structures
Risk.”</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-NKBNG_zpkDsKd1IrA5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund is structured as an ETF and, as a result, is subject to special risks, including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C04_gRBRTB-NKBNG_zdu23W8pSDxg"><div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zoRBNOWOX8Oa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” Fund shares are typically bought and sold in the secondary market, and investors typically pay brokerage
commissions or other charges on these transactions.</span></td>
</tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zFAlwDyicFUg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td>
</tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C02_gRBRTB-NKBNG_zfBex78Ln5rg"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zQ0XQSU7Cick">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares, and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and the intra-day bid/ask spreads may widen.</span></td>
</tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread
of the Fund to widen.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value, particularly during times of market stress,
with the result that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected
in the bid/ask price for Fund shares or in the closing price.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares
is open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which
can lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day
bid/ask spread of the Fund to widen.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity
of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between
the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeSecuritiesRiskMember_zwb1ygDb6vRa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed
Income Securities Risk. </b>The value of the Fund’s investments in fixed income securities will fluctuate with changes in interest
rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the
market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates
than shorter-term securities. Other risk factors include credit risk (the risk that the debtor may default), extension risk (the risk
that an issuer may exercise its right to repay principal on a fixed rate obligation held by the Fund later than expected), and prepayment
risk (the risk that the debtor may pay its obligation early, thereby reducing the amount of interest payments). These risks could affect
the value of a particular investment by the Fund, possibly causing the Fund’s share price and total return to be reduced and fluctuate
more than other types of investments.</span></p><p id="xdx_A9D_z99gypyyPvq1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zpOQcfRyJ63i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk</b>. Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social, and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions, such as exchange controls).</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--GoldRiskMember_zGBWwnAXtRh7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold
Risk.</b> The price of gold may be affected by several factors, including the global gold supply and demand and investors’ expectations
with respect to the rate of inflation. Developments affecting the value of gold may have a significant impact on the Fund. Gold markets
have been, and will likely continue to be, subject to sharp price fluctuations, which may lead to significant price fluctuations in the
shares of the Fund. In addition, it is possible that a shareholder may not realize his or her investment objective because the gold markets
have historically experienced extended periods of flat or declining prices, in addition to sharp fluctuations. There is no assurance
that gold will maintain its long-term value in terms of purchasing power in the future.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IncomeRiskMember_zYoNOcdr53w1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income
Risk. </b>The Fund’s distributions to shareholders may decline when prevailing interest rates fall, when the Fund experiences deterioration
of the underlying debt securities it holds, or when the Fund realizes a loss upon the sale of a debt security.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialMetalsSectorRiskMember_z4Uo68kTfyYa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Industrial
Metals Sector Risk.</b> Risks of investing in the industrial metals sector commodities include, in addition to other risks, substantial
price fluctuations over short periods of time, imposition of import controls, increased competition, government regulation, disruptions
in mining, storing, and refining of metals, and changes in industrial, governmental and commercial demand for certain metals.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_z3S8ewAft4r2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk. </b>Interest rate risk is the risk that bond prices overall, including the prices of securities held by the Fund, will decline
over short or long periods of time due to rising interest rates. Bonds with longer maturities tend to be more sensitive to interest rates
than bonds with shorter maturities. The maturity and effective duration of the Fund’s investment portfolio may vary materially,
from time to time, and there is no assurance that the Fund will achieve or maintain any particular target maturity or effective duration
of its investment portfolio.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zP2bIboi5USb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets, asset classes, and/or the overall market.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zCsAozwLYMDj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuer
Specific Risk. </b>The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline.
The value of a specific security can be more volatile than the market as a whole, and can perform differently from the value of the market
as a whole.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zv7c2YBX7Av6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> The Advisor may not successfully implement the Fund’s investment strategies and, as a result, the Fund may not meet its
investment objective.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z5XYilyfGQld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or
market price per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the
Fund. Factors such as domestic and foreign economic growth rates and market conditions, interest rate levels, trading and tariff events,
geopolitical conflicts interest rate levels, and political events may adversely affect the securities markets.</span></p><p id="xdx_A9A_zweGWz9nxLIh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zjNlgxb2V7A7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Diversification
Risk. </b>To the extent that the Fund holds securities of a smaller number of issuers, or invests a larger percentage of its assets
in a single issuer, than a diversified portfolio, the value of the Fund, as compared to the value of a diversified portfolio, will
generally be more volatile and more sensitive to the performance of any one of those issuers, and to economic, political, market or
regulatory events affecting any one of those issuers.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreciousMetalsSectorRiskMember_zZhIWx0Wp3F1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Precious
Metals Sector Risk. </b>Prices of precious metals and of precious metal-related securities have historically been volatile. Economic,
financial and political factors can cause periods of volatility. Because precious metals and other commodities do not generate investment
income, the return on such investments will be derived solely from the appreciation or depreciation of such investments. Changes in the
production and sale of precious metals by governments or central banks, or other large holders, can be unpredictable and may also have
a significant impact on the prices of precious metals.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--RegulatoryRiskMember_zRP51KDA9yz6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Regulatory
Risk. </b>Changes in the laws or regulations of the United States, Cayman Islands, or other countries, including any changes to applicable
tax laws and regulations, could impair the ability of the Fund to achieve its investment objective, and could increase the operating
expenses of the Fund. The Fund and the Subsidiary are “commodity pools” under the U.S. Commodity Exchange Act (the “CEA”),
and the Advisor is a “commodity pool operator” registered with and regulated by the CFTC.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--Rule144ASecuritiesRiskMember_zdUPrKn2eJ95" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rule
144A Securities Risk. </b>The Fund may invest in securities that are normally purchased or resold pursuant to Rule 144A under the Securities
Act of 1933 (the “Securities Act”). Rule 144A securities are restricted securities that are not publicly traded and may be
subject to legal restrictions on resale. Rule 144A securities are generally not traded on established markets, and the market for such
securities is typically less active than the market for publicly traded securities. As a result, Rule 144A securities may be illiquid,
difficult to value and subject to wide fluctuations in value. Delay or difficulty in selling such securities may result in a loss to
the Fund.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zBYiPQdgHCy" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may not be backed by the full faith and credit of the U.S. government, which could affect the Fund’s
ability to recover should they default.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--VolatilityRiskMember_zu9aH25eAqLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Volatility
Risk.</b> The Fund may have investments that appreciate or decrease significantly in value over short periods of time. This may cause
the Fund’s net asset value and market price per share to experience significant increases or declines in value over short periods
of time; however, all investments, whether long- or short-term, are subject to risk of loss.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--WhollyOwnedSubsidiaryRiskMember_zT8bmLXEOO43" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Wholly
Owned Subsidiary Risk.</b> By investing in the Subsidiary, the Fund is indirectly exposed to the commodities risks associated with the
Subsidiary’s investments in commodity-related instruments. There can be no assurance that the Subsidiary’s investments will
contribute to the Fund’s returns. The Subsidiary is not registered under the 1940 Act and is not subject to all the investor protections
of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or
the Subsidiary to operate as described in this Prospectus, and could adversely affect the Fund, such as by reducing the Fund’s
investment returns.</span></p><p id="xdx_A9D_zaCOTCqhns4c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Funds’
Principal Investment Strategies and Related Risks.”</span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveTradingRiskMember_zTadU9WpDFrl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Active
Trading Risk.</b> The Fund may trade securities actively, which could increase its transaction costs (thereby lowering its performance)
and could increase the amount of taxes you owe by generating short-term gains, which may be taxed at a higher rate. Under certain market
conditions, the Fund’s turnover may be very high and considerably higher than that of other funds.</span></p><div id="xdx_C07_gRBRTB-AJQE_zfzqpmmcZ7Hd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zVK5RCZiyL7k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders, and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to NAV, and possibly face delisting by the CBOE BZX Exchange (the “Exchange”).
These risks could cause intra-day bid/ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C09_gRBRTB-AJQE_z9npcVBnnEw6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zCxwqxZp0aI7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk</b>. At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance, and the Fund may not achieve its investment objective.</span></p><div id="xdx_C09_gRBRTB-AJQE_zwQPZz4sISI3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashTransactionsRiskMember_zsZECwCGAeJa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
Transactions Risk</b>. ETFs generally are able to make in-kind redemptions and avoid being taxed on gains on the distributed portfolio
securities at the Fund level. Because the Fund may effect redemptions partly or entirely in cash, rather than in-kind, it may be required
to sell portfolio securities in order to obtain the cash needed to distribute redemption proceeds. If the Fund recognizes gain on these
sales, this generally will cause the Fund to recognize gain it might not otherwise have recognized, or to recognize such gain sooner
than would otherwise be required if it were to distribute portfolio securities in-kind. The Fund generally intends to distribute these
gains to shareholders to avoid being taxed on this gain at the Fund level and otherwise comply with the special tax rules that apply
to it. This strategy may cause shareholders to be subject to tax on gains they would not otherwise be subject to, or at an earlier date
than if they had made an investment in a different ETF.</span></p><div id="xdx_C0B_gRBRTB-AJQE_zJOeiRdhJSV5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_zOVDPJ9202Va" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> The future direction of interest rates is uncertain. If interest rates rise, there is risk that
rates across the financial system also may rise. Changes in government intervention may have adverse effects on the Fund’s investments,
volatility, and illiquidity in debt markets. Interest rate increases could cause the value of the Fund to decrease. Federal Reserve policy
changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which
could cause the value of a Fund’s investments and share price to decline. If a Fund invests in derivatives tied to fixed-income
markets, the Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives. To the extent a Fund
experiences high redemptions because of these policy changes, the Fund may experience increased portfolio turnover, which will increase
the costs the Fund incurs and may lower its performance. Furthermore, if rising interest rates cause a Fund to lose enough value, the
Fund could also face increased redemptions, which could force the Fund to liquidate investments at disadvantageous times or prices, thereby
adversely affecting the Fund. In addition, decreases in fixed income dealer market-making capacity may persist in the future, potentially
leading to decreased liquidity and increased volatility in the fixed income markets.</span></p>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommodityRiskMember_zFS53yFjtZ34" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commodity
Risk. </b>Exposure to the commodities markets may subject a fund to greater volatility than investments in traditional securities. Commodity
prices may be influenced by unfavorable weather, animal and plant disease, geologic and environmental factors, as well as changes in
government regulation, such as tariffs, embargoes or burdensome production rules and restrictions. The Commodity Basket Component will
invest in energy and industrial metals/precious metals commodities. Please see “Energy Sector Risk”, “Industrial Metals
Sector Risk” and “Precious Metals Sector Risk” below.</span></p><div id="xdx_C0C_gRBRTB-AJQE_zssRpgo7vsxl"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommodityTaxRiskMember_zklXWGAwjATj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commodity
Tax Risk. </b>The tax treatment of commodity-linked derivative instruments 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
derivatives was treated as non-qualifying income, the Fund might fail to qualify as a regulated investment company and be subject to
federal income tax at the Fund level, and all distributions from earnings and profits, including any distribution of net tax-exempt income
and net long-term capital gains, would be taxable to Fund shareholders as ordinary income. Should the Internal Revenue Service issue
further guidance, or Congress enact legislation, that adversely affects the tax treatment of the Subsidiary (which guidance might be
applied to the Fund retroactively), it could, among other consequences, limit the Fund’s ability to pursue its investment strategy.</span></p><div id="xdx_C0B_gRBRTB-AJQE_zJldIguFAwAd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--CounterpartyRiskMember_zxWqjAa47D23" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Counterparty
Risk. </b>The Fund may engage in transactions in securities and financial instruments that involve counterparties. Counterparty risk
is the risk that a counterparty (the other party to a transaction or an agreement, or the party with whom the Fund executes transactions)
to a transaction with the Fund may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise honor
its obligations.</span></p><div id="xdx_C03_gRBRTB-AJQE_zQtfdfwDjS58"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskMember_zXMgHDebtbEf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk</b>. Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the
Fund’s total return. There is a risk that issuers will not make payments on fixed income securities held by the Fund, resulting
in losses to the Fund. In addition, the credit quality of fixed income securities held by the Fund may be lowered if an issuer’s
financial condition changes. The issuer of a fixed income security may also default on its obligations.</span></p><div id="xdx_C0B_gRBRTB-AJQE_zDw3iKmfluig"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_gRBRTB-XO_z7fbkP7AbQXg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk.</b> The performance of a derivative instrument depends largely on the performance of an underlying instrument, such as a currency,
security, rate or index. In addition, the use of derivative instruments involves risks different from, or possibly greater than, the
risks associated with investing directly in securities and other traditional investments. These risks include (i) the risk that the counterparty
to a derivative transaction may be unwilling or unable to fulfill its contractual obligations; (ii) the risk of mispricing or improper
valuation; and (iii) the risk that changes in the value of the derivative may not correlate perfectly with the underlying reference asset.
Derivatives can also create leverage risk because they do not require payment up front equal to the economic exposure created by holding
a position in the derivative. As a result, an adverse change in the value of the underlying asset could result in the Fund sustaining
a loss that is substantially greater than the amount invested in the derivative or the anticipated value of the underlying asset, which
may make the Fund’s returns more volatile and increase the risk of loss. Derivative instruments may be less liquid than more traditional
investments, and the Fund may be unable to sell or close out its derivative positions at a desirable time or price. This risk may be
more acute under adverse market conditions, during which the Fund may be most in need of liquidating its derivative positions. Additionally,
the Fund’s obligation to make payments of margin, collateral, or settlement payments to counterparties may heighten liquidity demands
on the Fund’s portfolio. Derivatives may be less tax efficient and subject to changing government regulation that could impact
the Fund’s ability to use certain derivatives or their cost. When a derivative is used for hedging, the change in value of the
derivative may also not correlate specifically with the risk of the underlying asset being hedged. Derivatives are subject to the risk
of adverse market movements and the risk that markets could experience a change in volatility that adversely impacts Fund returns and
the Fund’s obligations and exposures. Derivative prices are highly volatile and may fluctuate substantially during a short period
of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to, changing supply and demand
relationships; government programs and policies; national and international political and economic events; geopolitical conflicts; changes
in interest rates; and inflation and deflation. Derivatives are also subject to operational risk, including potential documentation issues,
settlement issues, systems failures, inadequate controls and human error, as well as legal risks arising from insufficient documentation,
insufficient capacity or authority of counterparty, or the legality or enforceability of a contract. Derivatives strategies may not be
successful, and their successful use will depend on the portfolio managers’ ability to accurately forecast movements in the market
relating to the underlying asset.</span></p><div id="xdx_C05_gRBRTB-AJQE_zDTGMp0sKqUf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C00_gRBRTB-AJQE_z2ficiWirRef"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_zOhrFJLBNlZk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk.</i> Investments in futures contracts involve leverage, which means a small percentage of assets invested in futures contracts can
have a disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. In
addition, futures contracts may become mispriced or improperly valued relative to the Advisor’s expectations and may not produce
the desired investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the
underlying reference asset because of temporary, or even long-term, supply and demand imbalances, and because futures contracts do not
pay dividends.</span></td>
</tr></table></div></div><p id="xdx_A90_zCoUtdZmJ2df" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_C0C_gRBRTB-AJQE_zD5hOQyURpWf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 1in; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlike
equities, which typically entitle the holder to a continuing stake in a corporation, futures contracts normally specify a certain date
for settlement in cash based on the reference asset. As the futures contracts approach expiration, they may be replaced by similar contracts
that have a later expiration. This process is referred to as “rolling.” The actual realization of a potential roll cost will
be dependent upon the difference in price of the near and distant contract. Because the margin requirement for futures contracts is less
than the value of the assets underlying the futures contract, futures trading involves a degree of leverage. As a result, a relatively
small price movement in a futures contract may result in immediate and substantial loss to the Fund, which could significantly adversely
affect the Fund’s performance.</span></p></div><div id="xdx_C05_gRBRTB-AJQE_z31OoSiB3Hld"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C06_gRBRTB-AJQE_zdPkBajt6zul"><div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageAndVolatilityRiskMember_zEcGxfJJkEu5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
and Volatility Risk. </i>Derivative contracts ordinarily have leverage inherent in their terms, meaning that the Fund can obtain significant
investment exposure in return for meeting a relatively small margin or other investment requirement. The low margin deposits normally
required in trading derivatives permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate
and substantial loss to the Fund, potentially in excess of the amounts invested or borrowed. The use of leverage may also cause the Fund
to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations or to meet collateral
segregation requirements. The use of leveraged derivatives can magnify the Fund’s potential for gain or loss and, therefore, amplify
the effects of market volatility on the Fund’s share price.</span></td>
</tr></table></div></div><div id="xdx_C04_gRBRTB-AJQE_zrwJ6pHSdpah"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0D_gRBRTB-AJQE_zIchklcmwAwi"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_z61PV3UMMJo1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity
Risk</i>: It is possible that particular derivative investments might be difficult to purchase or sell, possibly preventing the Fund
from executing positions at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable
times or prices in order to satisfy its obligations.</span></td>
</tr></table></div></div><div id="xdx_C07_gRBRTB-AJQE_zk908fVpZfi9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C07_gRBRTB-AJQE_zettuKUrkIPc"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zBpSwKBPbVGh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk</i>. Markets for options and options on futures contracts may not always operate on a fair and orderly basis. At times, prices
for options and options on futures contracts may not represent fair market value and prices may be subject to manipulation, which may
be extreme under some circumstances. The dysfunction and manipulation of volatility of options markets may make it difficult for a fund
to effectively implement its investment strategy and achieve its investment objectives, and could potentially lead to significant losses.</span></td>
</tr></table></div></div><div id="xdx_C03_gRBRTB-AJQE_zhzAaiYg3aE2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C00_gRBRTB-AJQE_zwAczi5oUYy5"><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zMRo2JE6vyL8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk</i>. There are risks associated with the Fund’s exposure to options. As a seller (writer) of a put option, the Fund will lose
money if the value of the underlying reference instrument falls below (written put option) the respective option’s strike price.
The Fund’s losses are potentially large in a written put transaction.</span></td>
</tr></table></div></div><div id="xdx_C05_gRBRTB-AJQE_zNDD8s6wgPw"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0B_gRBRTB-AJQE_zw1q5xzKt57d"><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OverTheCounterOTCTradingRiskMember_ziawzzm1Qryc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Over-the-Counter
(“OTC”) Trading Risk.</i> Certain of the derivatives in which the Fund may invest may be traded (and privately negotiated)
in the OTC market. While the OTC derivatives market is the primary trading venue for many derivatives, it is largely unregulated. As
a result, and similar to other privately negotiated contracts, the Fund is subject to counterparty credit risk with respect to such derivative
contracts.</span></td>
</tr></table></div></div><div id="xdx_C00_gRBRTB-AJQE_z8utxgMqIgGg"><p id="xdx_A9E_z9uYW8kE5cc2" style="margin-top: 0; margin-bottom: 0"> </p></div><div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--TotalReturnSwapRiskMember_zlwfhI4mju54">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Total
Return Swap Risk </i>Total return swaps are subject to tracking risk because they may not be perfect substitutes for the instruments
they are intended to replace. Total return over the counter swaps are subject to counterparty default. Leverage inherent in derivatives
will tend to magnify the Fund’s losses. The Fund’s use of swaps involves risks different from, or possibly greater than,
the risks associated with investing directly in securities and other traditional investments, and exposes the Fund to the risks associated
with derivative instruments described above. In a standard “swap” transaction, two parties agree to exchange the returns,
differentials in rates of return or some other amount earned or realized on the “notional amount” of predetermined investments
or instruments, which may be adjusted for an interest factor. Certain derivatives risks are heightened with respect to over-the-counter
(“OTC”) derivative instruments, like certain swap agreements, and may be greater during volatile market conditions. Such
risks include the risk of leverage (i.e., the risk that an adverse change in the value of the underlying asset could result in the Fund
sustaining a loss that is substantially greater than the amount invested in the derivative or the anticipated value of the underlying
asset), counterparty risk (i.e., the risk of a counterparty’s unwillingness or inability to perform its obligations, including
as a result of bankruptcy), credit risk (i.e., the risk that the issuer of the underlying asset may default on its obligations), and
pricing risk (i.e., swaps may be difficult to value).</span></td>
</tr></table></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_zOhrFJLBNlZk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk.</i> Investments in futures contracts involve leverage, which means a small percentage of assets invested in futures contracts can
have a disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. In
addition, futures contracts may become mispriced or improperly valued relative to the Advisor’s expectations and may not produce
the desired investment results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the
underlying reference asset because of temporary, or even long-term, supply and demand imbalances, and because futures contracts do not
pay dividends.</span></td>
</tr></table></div>
<div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageAndVolatilityRiskMember_zEcGxfJJkEu5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Leverage
and Volatility Risk. </i>Derivative contracts ordinarily have leverage inherent in their terms, meaning that the Fund can obtain significant
investment exposure in return for meeting a relatively small margin or other investment requirement. The low margin deposits normally
required in trading derivatives permit a high degree of leverage. Accordingly, a relatively small price movement may result in an immediate
and substantial loss to the Fund, potentially in excess of the amounts invested or borrowed. The use of leverage may also cause the Fund
to liquidate portfolio positions when it would not be advantageous to do so in order to satisfy its obligations or to meet collateral
segregation requirements. The use of leveraged derivatives can magnify the Fund’s potential for gain or loss and, therefore, amplify
the effects of market volatility on the Fund’s share price.</span></td>
</tr></table></div><div id="xdx_C05_gRBRTB-XO_zhXJOCFSXYYj"><div id="xdx_C04_gRBRTB-AJQE_zrwJ6pHSdpah"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LiquidityRiskMember_z61PV3UMMJo1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Liquidity
Risk</i>: It is possible that particular derivative investments might be difficult to purchase or sell, possibly preventing the Fund
from executing positions at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable
times or prices in order to satisfy its obligations.</span></td>
</tr></table></div><div id="xdx_C01_gRBRTB-XO_zHMkLFJ2Rwzk"><div id="xdx_C07_gRBRTB-AJQE_zk908fVpZfi9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zBpSwKBPbVGh">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk</i>. Markets for options and options on futures contracts may not always operate on a fair and orderly basis. At times, prices
for options and options on futures contracts may not represent fair market value and prices may be subject to manipulation, which may
be extreme under some circumstances. The dysfunction and manipulation of volatility of options markets may make it difficult for a fund
to effectively implement its investment strategy and achieve its investment objectives, and could potentially lead to significant losses.</span></td>
</tr></table></div><div id="xdx_C0B_gRBRTB-XO_zxxzCxvlcGWc"><div id="xdx_C03_gRBRTB-AJQE_zhzAaiYg3aE2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zMRo2JE6vyL8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk</i>. There are risks associated with the Fund’s exposure to options. As a seller (writer) of a put option, the Fund will lose
money if the value of the underlying reference instrument falls below (written put option) the respective option’s strike price.
The Fund’s losses are potentially large in a written put transaction.</span></td>
</tr></table></div><div id="xdx_C0E_gRBRTB-XO_zyHlEWjzLIZ3"><div id="xdx_C05_gRBRTB-AJQE_zNDD8s6wgPw"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OverTheCounterOTCTradingRiskMember_ziawzzm1Qryc">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Over-the-Counter
(“OTC”) Trading Risk.</i> Certain of the derivatives in which the Fund may invest may be traded (and privately negotiated)
in the OTC market. While the OTC derivatives market is the primary trading venue for many derivatives, it is largely unregulated. As
a result, and similar to other privately negotiated contracts, the Fund is subject to counterparty credit risk with respect to such derivative
contracts.</span></td>
</tr></table></div>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--TotalReturnSwapRiskMember_zlwfhI4mju54">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Total
Return Swap Risk </i>Total return swaps are subject to tracking risk because they may not be perfect substitutes for the instruments
they are intended to replace. Total return over the counter swaps are subject to counterparty default. Leverage inherent in derivatives
will tend to magnify the Fund’s losses. The Fund’s use of swaps involves risks different from, or possibly greater than,
the risks associated with investing directly in securities and other traditional investments, and exposes the Fund to the risks associated
with derivative instruments described above. In a standard “swap” transaction, two parties agree to exchange the returns,
differentials in rates of return or some other amount earned or realized on the “notional amount” of predetermined investments
or instruments, which may be adjusted for an interest factor. Certain derivatives risks are heightened with respect to over-the-counter
(“OTC”) derivative instruments, like certain swap agreements, and may be greater during volatile market conditions. Such
risks include the risk of leverage (i.e., the risk that an adverse change in the value of the underlying asset could result in the Fund
sustaining a loss that is substantially greater than the amount invested in the derivative or the anticipated value of the underlying
asset), counterparty risk (i.e., the risk of a counterparty’s unwillingness or inability to perform its obligations, including
as a result of bankruptcy), credit risk (i.e., the risk that the issuer of the underlying asset may default on its obligations), and
pricing risk (i.e., swaps may be difficult to value).</span></td>
</tr></table></div><div id="xdx_C09_gRBRTB-AJQE_zf90VTa8gw8e"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--DistributionPolicyRiskMember_zpjMCEDYuIQ" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Distribution
Policy Risk. </b>Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits.
However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should
not assume that the source of a distribution from the Fund is net profit. Any capital returned to investors through distributions will
be distributed after payment of Fund fees and expenses. Shareholders should note that return of capital will reduce the tax basis of
their shares and potentially increase the taxable gain, if any, upon disposition of their shares. For more information, please refer
to the section of the Fund’s prospectus entitled “Tax Consequences”.</span></p><div id="xdx_C06_gRBRTB-AJQE_zifjia2ybVbi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zjy13BC7fpgh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duration
Risk. </b>Longer-term fixed-income securities may be more sensitive to interest rate changes, particularly in periods of rising interest
rates. Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration
may tend to understate the drop in a security’s price. If rates drop significantly, effective duration may tend to overstate the
rise in a security’s price.</span></p><div id="xdx_C0B_gRBRTB-AJQE_zBD0VpiFZdI7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--EnergySectorRiskMember_zQUgqFX0jVSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Energy
Sector Risk. </b>The Fund’s exposure to the energy sector will result in the performance of the Fund being relatively corelated
to, and affected by, developments in the energy sector, such as the possibility that government regulation will negatively impact companies
in this sector. Energy entities are subject to the risks specific, but not limited, to the following:</span></p><div id="xdx_C08_gRBRTB-AJQE_zsX2Yo5chGra"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fluctuations
in commodity prices;</span></td>
</tr></table></div>
<div id="xdx_C03_gRBRTB-AJQE_zztk46jGbkzb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Reduced
volumes of natural gas or other energy commodities available for transporting, processing, storing or distributing;</span></td>
</tr></table></div>
<div id="xdx_C05_gRBRTB-AJQE_zZlqu875qG21"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">New
construction risk and acquisition risk, which can limit potential growth;</span></td>
</tr></table></div>
<div id="xdx_C0E_gRBRTB-AJQE_zNNS7jifEsV4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
sustained reduced demand for crude oil, natural gas and refined petroleum products resulting from a recession or an increase in market
price or higher taxes;</span></td>
</tr></table></div>
<div id="xdx_C01_gRBRTB-AJQE_zO8AAuY7T4Za"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depletion
of the natural gas reserves or other commodities, if not replaced;</span></td>
</tr></table></div>
<div id="xdx_C0D_gRBRTB-AJQE_zUZI106YVqNf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes
in the regulatory environment;</span></td>
</tr></table></div>
<div id="xdx_C02_gRBRTB-AJQE_zILtlzVH6oa5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Extreme
weather;</span></td>
</tr></table></div>
<div id="xdx_C0E_gRBRTB-AJQE_zQzS3BopOjid"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rising
interest rates, which could result in a higher cost of capital and drive investors into other investment opportunities; and</span></td>
</tr></table></div>
<div id="xdx_C08_gRBRTB-AJQE_z0KvYcxv8ag"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Threats
of attack by terrorists.</span></td>
</tr></table></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFRiskMember_zxWxAsXdeIwf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Risk. </b>Like a mutual fund, the value of an ETF can fluctuate based on the prices of the securities owned by the ETF. Because the Fund
may invest its assets in ETFs that have their own fees and expenses in addition to those charged directly by the Fund, the Fund may bear
higher expenses than a fund that invests directly in individual securities. By investing in other ETFs, the Fund will be subject to the
risks associated with the underlying investments of such ETFs. ETFs are also subject to the risks described under “ETF Structures
Risk.”</span></p><div id="xdx_C06_gRBRTB-AJQE_z4gJmcjqCQ5k"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-NKBNG_zpkDsKd1IrA5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund is structured as an ETF and, as a result, is subject to special risks, including:</span></p><div id="xdx_C09_gRBRTB-AJQE_z1x0GRBDD3Pd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zoRBNOWOX8Oa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” Fund shares are typically bought and sold in the secondary market, and investors typically pay brokerage
commissions or other charges on these transactions.</span></td>
</tr></table></div><div id="xdx_C0D_gRBRTB-AJQE_zMuKI5x5H0Ra"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C05_gRBRTB-AJQE_zSbpzhkzyUTk"><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zFAlwDyicFUg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td>
</tr></table></div></div><div id="xdx_C02_gRBRTB-AJQE_zdhkXI1YBXUf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zQ0XQSU7Cick">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares, and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and the intra-day bid/ask spreads may widen.</span></td>
</tr></table></div><div id="xdx_C0B_gRBRTB-AJQE_zYpzlx3Q85c2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread
of the Fund to widen.</span></td>
</tr></table></div><div id="xdx_C0C_gRBRTB-AJQE_zyob1VIPiEt1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value, particularly during times of market stress,
with the result that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected
in the bid/ask price for Fund shares or in the closing price.</span></td>
</tr></table></div><div id="xdx_C04_gRBRTB-AJQE_zs7JkuMhkdC8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares
is open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which
can lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day
bid/ask spread of the Fund to widen.</span></td>
</tr></table></div><div id="xdx_C0F_gRBRTB-AJQE_zRoVcTgPQKge"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity
of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between
the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td>
</tr></table></div>
<div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zoRBNOWOX8Oa">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” Fund shares are typically bought and sold in the secondary market, and investors typically pay brokerage
commissions or other charges on these transactions.</span></td>
</tr></table></div><div id="xdx_C01_gRBRTB-NKBNG_zeHoS5ktzQuc"><div id="xdx_C0D_gRBRTB-AJQE_zMuKI5x5H0Ra"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zFAlwDyicFUg">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td>
</tr></table></div><div id="xdx_C00_gRBRTB-NKBNG_z6bdidwRyxr2"><div id="xdx_C02_gRBRTB-AJQE_zdhkXI1YBXUf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zQ0XQSU7Cick">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares, and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and the intra-day bid/ask spreads may widen.</span></td>
</tr></table></div><div id="xdx_C01_gRBRTB-NKBNG_zfdL5pVWUGce"><div id="xdx_C0B_gRBRTB-AJQE_zYpzlx3Q85c2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread
of the Fund to widen.</span></td>
</tr></table></div></div>
<div id="xdx_C0E_gRBRTB-NKBNG_zqyKe6PD9992"><div id="xdx_C0C_gRBRTB-AJQE_zyob1VIPiEt1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value, particularly during times of market stress,
with the result that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected
in the bid/ask price for Fund shares or in the closing price.</span></td>
</tr></table></div></div>
<div id="xdx_C04_gRBRTB-NKBNG_zcF9C7u2joOj"><div id="xdx_C04_gRBRTB-AJQE_zs7JkuMhkdC8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares
is open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which
can lead to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day
bid/ask spread of the Fund to widen.</span></td>
</tr></table></div></div>
<div id="xdx_C03_gRBRTB-NKBNG_zDNkMyPlp5Df"><div id="xdx_C0F_gRBRTB-AJQE_zRoVcTgPQKge"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity
of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between
the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td>
</tr></table></div></div>
<div id="xdx_C0E_gRBRTB-AJQE_zTCCUlPctAk3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeSecuritiesRiskMember_zwb1ygDb6vRa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed
Income Securities Risk. </b>The value of the Fund’s investments in fixed income securities will fluctuate with changes in interest
rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the
market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates
than shorter-term securities. Other risk factors include credit risk (the risk that the debtor may default), extension risk (the risk
that an issuer may exercise its right to repay principal on a fixed rate obligation held by the Fund later than expected), and prepayment
risk (the risk that the debtor may pay its obligation early, thereby reducing the amount of interest payments). These risks could affect
the value of a particular investment by the Fund, possibly causing the Fund’s share price and total return to be reduced and fluctuate
more than other types of investments.</span></p>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zpOQcfRyJ63i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk</b>. Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social, and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions, such as exchange controls).</span></p><div id="xdx_C04_gRBRTB-AJQE_zh5wMCvy3Vfb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--GoldRiskMember_zGBWwnAXtRh7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Gold
Risk.</b> The price of gold may be affected by several factors, including the global gold supply and demand and investors’ expectations
with respect to the rate of inflation. Developments affecting the value of gold may have a significant impact on the Fund. Gold markets
have been, and will likely continue to be, subject to sharp price fluctuations, which may lead to significant price fluctuations in the
shares of the Fund. In addition, it is possible that a shareholder may not realize his or her investment objective because the gold markets
have historically experienced extended periods of flat or declining prices, in addition to sharp fluctuations. There is no assurance
that gold will maintain its long-term value in terms of purchasing power in the future.</span></p><div id="xdx_C09_gRBRTB-AJQE_zQWgmxYrkOD8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IncomeRiskMember_zYoNOcdr53w1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Income
Risk. </b>The Fund’s distributions to shareholders may decline when prevailing interest rates fall, when the Fund experiences deterioration
of the underlying debt securities it holds, or when the Fund realizes a loss upon the sale of a debt security.</span></p><div id="xdx_C00_gRBRTB-AJQE_zXJk1IsUPM51"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndustrialMetalsSectorRiskMember_z4Uo68kTfyYa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Industrial
Metals Sector Risk.</b> Risks of investing in the industrial metals sector commodities include, in addition to other risks, substantial
price fluctuations over short periods of time, imposition of import controls, increased competition, government regulation, disruptions
in mining, storing, and refining of metals, and changes in industrial, governmental and commercial demand for certain metals.</span></p><div id="xdx_C06_gRBRTB-AJQE_zM6WonAJ2IE9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_z3S8ewAft4r2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk. </b>Interest rate risk is the risk that bond prices overall, including the prices of securities held by the Fund, will decline
over short or long periods of time due to rising interest rates. Bonds with longer maturities tend to be more sensitive to interest rates
than bonds with shorter maturities. The maturity and effective duration of the Fund’s investment portfolio may vary materially,
from time to time, and there is no assurance that the Fund will achieve or maintain any particular target maturity or effective duration
of its investment portfolio.</span></p><div id="xdx_C0A_gRBRTB-AJQE_zTSSXGqNs645"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentStyleRiskMember_zP2bIboi5USb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Investment
Style Risk. </b>The type of securities in which the Fund focuses may underperform other assets, asset classes, and/or the overall market.</span></p><div id="xdx_C0F_gRBRTB-AJQE_zIomB7fLJxWb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zCsAozwLYMDj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuer
Specific Risk. </b>The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline.
The value of a specific security can be more volatile than the market as a whole, and can perform differently from the value of the market
as a whole.</span></p><div id="xdx_C0E_gRBRTB-AJQE_zzTUEjRUY8Pa"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zv7c2YBX7Av6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> The Advisor may not successfully implement the Fund’s investment strategies and, as a result, the Fund may not meet its
investment objective.</span></p><div id="xdx_C0C_gRBRTB-AJQE_zm3oVoRcfsAf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_z5XYilyfGQld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market Risk. </b>The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or
market price per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the
Fund. Factors such as domestic and foreign economic growth rates and market conditions, interest rate levels, trading and tariff events,
geopolitical conflicts interest rate levels, and political events may adversely affect the securities markets.</span></p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zjNlgxb2V7A7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Diversification
Risk. </b>To the extent that the Fund holds securities of a smaller number of issuers, or invests a larger percentage of its assets
in a single issuer, than a diversified portfolio, the value of the Fund, as compared to the value of a diversified portfolio, will
generally be more volatile and more sensitive to the performance of any one of those issuers, and to economic, political, market or
regulatory events affecting any one of those issuers.</span></p><div id="xdx_C02_gRBRTB-AJQE_zAl1C0egXNKd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreciousMetalsSectorRiskMember_zZhIWx0Wp3F1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Precious
Metals Sector Risk. </b>Prices of precious metals and of precious metal-related securities have historically been volatile. Economic,
financial and political factors can cause periods of volatility. Because precious metals and other commodities do not generate investment
income, the return on such investments will be derived solely from the appreciation or depreciation of such investments. Changes in the
production and sale of precious metals by governments or central banks, or other large holders, can be unpredictable and may also have
a significant impact on the prices of precious metals.</span></p><div id="xdx_C09_gRBRTB-AJQE_z0r9MeBopkmi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--RegulatoryRiskMember_zRP51KDA9yz6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Regulatory
Risk. </b>Changes in the laws or regulations of the United States, Cayman Islands, or other countries, including any changes to applicable
tax laws and regulations, could impair the ability of the Fund to achieve its investment objective, and could increase the operating
expenses of the Fund. The Fund and the Subsidiary are “commodity pools” under the U.S. Commodity Exchange Act (the “CEA”),
and the Advisor is a “commodity pool operator” registered with and regulated by the CFTC.</span></p><div id="xdx_C02_gRBRTB-AJQE_z835rsMIwjD2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--Rule144ASecuritiesRiskMember_zdUPrKn2eJ95" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Rule
144A Securities Risk. </b>The Fund may invest in securities that are normally purchased or resold pursuant to Rule 144A under the Securities
Act of 1933 (the “Securities Act”). Rule 144A securities are restricted securities that are not publicly traded and may be
subject to legal restrictions on resale. Rule 144A securities are generally not traded on established markets, and the market for such
securities is typically less active than the market for publicly traded securities. As a result, Rule 144A securities may be illiquid,
difficult to value and subject to wide fluctuations in value. Delay or difficulty in selling such securities may result in a loss to
the Fund.</span></p><div id="xdx_C0A_gRBRTB-AJQE_z6prkiQhsSvf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zBYiPQdgHCy" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. However, due to fluctuations in interest rates, the market value of such securities may vary
during the period shareholders own shares of the Fund. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may not be backed by the full faith and credit of the U.S. government, which could affect the Fund’s
ability to recover should they default.</span></p><div id="xdx_C03_gRBRTB-AJQE_zlGduVr7yp51"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--VolatilityRiskMember_zu9aH25eAqLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Volatility
Risk.</b> The Fund may have investments that appreciate or decrease significantly in value over short periods of time. This may cause
the Fund’s net asset value and market price per share to experience significant increases or declines in value over short periods
of time; however, all investments, whether long- or short-term, are subject to risk of loss.</span></p><div id="xdx_C0D_gRBRTB-AJQE_zW70mBODuFt4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--WhollyOwnedSubsidiaryRiskMember_zT8bmLXEOO43" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Wholly
Owned Subsidiary Risk.</b> By investing in the Subsidiary, the Fund is indirectly exposed to the commodities risks associated with the
Subsidiary’s investments in commodity-related instruments. There can be no assurance that the Subsidiary’s investments will
contribute to the Fund’s returns. The Subsidiary is not registered under the 1940 Act and is not subject to all the investor protections
of the 1940 Act. Changes in the laws of the United States and/or the Cayman Islands could result in the inability of the Fund and/or
the Subsidiary to operate as described in this Prospectus, and could adversely affect the Fund, such as by reducing the Fund’s
investment returns.</span></p>
Performance:
<p id="xdx_A86_eoef--PerformanceNarrativeTextBlock_zXxFSOgsUtLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zewFLAa58uJk">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index, as well as an additional index.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zvzkqqJGFh93">How the Fund has performed in the past (before and after taxes) is not necessarily an indication
of how it will perform in the future.</span> Updated performance information is available at no cost at <span id="xdx_903_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zoC6Yxq2HpFc">www.strategysharesetfs.com</span> or by calling
<span id="xdx_903_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zwsDcKGIuzh8">(855) 4SS-ETFS or (855) 477-3837</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to January 5, 2025, the Fund was a passively managed ETF and sought to track the performance of its underlying index, which was designed
to provide broad exposure to gold and corporate bonds. Effective January 5, 2025, the Fund changed its investment strategy and its name
to Strategy Shares Gold Enhanced Yield ETF (formerly, Strategy Shares Gold-Hedged Bond ETF). Performance information for periods prior
to January 5, 2025, does not reflect the Fund’s current investment strategy; consequently, such performance information may be
less pertinent for investors considering whether to purchase shares of the Fund, as the Fund’s performance may have been different
if the Fund’s portfolio was managed under the current investment objective, strategies, and policies.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of a broad-based
market index, as well as an additional index.
How the Fund has performed in the past (before and after taxes) is not necessarily an indication
of how it will perform in the future.
www.strategysharesetfs.com
(855) 4SS-ETFS or (855) 477-3837
Annual
Total Returns
<div id="xdx_A85_eoef--BarChartTableTextBlock_zqlYRyxhIwFk"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zPiYlVXdszg9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; display: none" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: left">
<td style="width: 20%"> </td>
<td id="xdx_492_20220101__20221231_zvn6dex0t47k" style="width: 20%">2022</td>
<td id="xdx_492_20230101__20231231_zaaDVALl2W3f" style="width: 20%">2023</td>
<td id="xdx_492_20240101__20241231_zpicWPLRY9j5" style="width: 20%">2024</td>
<td id="xdx_492_20250101__20251231_zSRLrk1ijZnf" style="width: 20%">2025</td></tr>
<tr id="xdx_405_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_zOrIkoS0brv5" style="vertical-align: top; text-align: left">
<td> </td>
<td>-19.80%</td>
<td>12.50%</td>
<td>19.92%</td>
<td>57.44%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><img alt="(BAR CHAT)" src="st010_v1.jpg"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
-0.1980
0.1250
0.1992
0.5744
<p id="xdx_A82_eoef--BarChartClosingTextBlock_zH31RcpcdOph" style="font: 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_90E_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zpuSCSlDaVKb">the highest return for a quarter was</span> <span id="xdx_902_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zDDygrLITYQ3">17.97%</span> (quarter ended <span id="xdx_905_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zEJ3XqAkSWw2">December 31, 2023</span>), and <span id="xdx_908_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zPnPQjKfLOel">the lowest return
for a quarter was</span> <span id="xdx_902_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zhTzDGq4Myle">(14.70)%</span> (quarter ended <span id="xdx_903_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zU0UzxzG0XW8">June 30, 2022</span>).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90F_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zfmuxHAjDTKl">The
Fund’s year-to-date return</span> as of <span id="xdx_904_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zHGQbKujHwf8">June 30, 2026</span> was <span id="xdx_901_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zZdSrBouY3rh">(25.56)%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
the highest return for a quarter was
0.1797
2023-12-31
the lowest return
for a quarter was
-0.1470
2022-06-30
The
Fund’s year-to-date return
2026-06-30
-0.2556
Average
Annual Total Returns
(For fiscal year or period ended December 31, 2025)
<div id="xdx_A80_eoef--PerformanceTableTextBlock_z7RE2zJmhCI6"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zEV2uMegw678" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="border: black 1pt solid; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; width: 62%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49E_20250101__20251231_zNbml7uHSML8" style="border-top: black 1pt solid; white-space: nowrap; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; width: 18%; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1
Year</b></span></td>
<td id="xdx_49E_20210517__20251231_zt1BJO447JK3" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; white-space: nowrap; padding: 1pt 5pt; vertical-align: bottom; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception (<span id="xdx_904_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_zeSmoDxcFopd">May 17, 2021</span>)</b></span></td></tr>
<tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_z1YD6mD3XAJd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member_zMfUxLo6nJEl">Return
Before Taxes</span></span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">57.44%</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.88%</span></td></tr>
<tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zu1gTR4x7Lth" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">52.25%</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11%</span></td></tr>
<tr id="xdx_40E_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000070448Member__oef--ClassAxis__custom--C000223943Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zeU3uYQ1S6F7" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">33.54%</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.43%</span></td></tr>
<tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000070448Member__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zq5KeQjfQjPh" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bloomberg
U.S. Aggregate Bond Index<span id="xdx_F44_zOtH1wlvzCZj">*</span> (<span id="xdx_90E_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zaXEbkAedyob">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.30%</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.21%</span></td></tr>
<tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000070448Member__oef--PerformanceMeasureAxis__custom--BloombergUSCorporateTRIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zeXIQyQvfW37" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; border-bottom: black 1pt solid; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bloomberg
U.S. Corporate TR Index<span id="xdx_F47_zEbAEIti2U7i">*</span> (<span id="xdx_90E_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zfLxI5cuxOE2">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.77%</span></td>
<td style="border-right: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.70%</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F08_zCHjxKeQuE25" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">*</span></td><td style="text-align: justify"><span id="xdx_F1E_zr4EssymCOnk" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
Fund has changed its primary benchmark from the Bloomberg U.S. Corporate TR Index to the Bloomberg U.S. Aggregate Bond Index to comply
with new regulatory requirements.</span></td>
</tr></table>
2021-05-17
Return
Before Taxes
0.5744
0.1188
0.5225
0.1011
0.3354
0.0843
reflects no deduction for fees, expenses or taxes
0.0730
0.0021
reflects no deduction for fees, expenses or taxes
0.0777
0.0070
<p id="xdx_A85_eoef--PerformanceTableClosingTextBlock_zA8dFOit7aug" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eoef--PerformanceTableUsesHighestFederalRate_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zrkobE82gOYj">After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.</span> <span id="xdx_90E_eoef--PerformanceTableNotRelevantToTaxDeferred_c20260827__20260827__dei--LegalEntityAxis__custom--S000070448Member_zOzFgqq7E3ek">Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.</span></span></p>
After-tax
returns are calculated using the highest historical individual federal marginal income tax rate and do not reflect the impact of state
and local taxes.
Actual after-tax returns depend on a shareholder’s tax situation and may differ from those shown. After-tax returns
are not relevant for shareholders who hold Fund shares in tax-advantaged accounts or to shares held by non-taxable entities.
FUND
SUMMARY – STRATEGY SHARES NEWFOUND/RESOLVE ROBUST MOMENTUM ETF
Investment
Objective:
<p id="xdx_A87_eoef--ObjectivePrimaryTextBlock_zqVe9xayxGV5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s investment objective is to seek to provide investment returns that correspond, before fees and expenses,
to the performance of the Newfound/ReSolve Robust Equity Momentum Index.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A81_eoef--ExpenseNarrativeTextBlock_zZvw1RLpW1W7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A86_eoef--ShareholderFeesTableTextBlock_z3vyjiZ9I9Fk"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zGOiCu8cF7Ef" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt; width: 80%"></td>
<td id="xdx_499_20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_zWr1QZb5BAs4" style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt; width: 20%"></td></tr>
<tr id="xdx_40C_eoef--ShareholderFeeOther_dn_zHAuOPacPag" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder Fees<br/>
(fees paid directly from your investment)</b> </span></td>
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td colspan="2" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-size: 3pt"><i> </i></span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_zUsvycz1trHk"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_zWnTvx9qy9Gf" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt; width: 80%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_499_20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_z1hHtqnhC7Fl" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; width: 20%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eoef--ManagementFeesOverAssets_dpn_zkBjlMSFXRSf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 0.49%</span></td></tr>
<tr id="xdx_401_eoef--DistributionAndService12b1FeesOverAssets_dpn_za1WNqRje1ae" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 0.00%</span></td></tr>
<tr id="xdx_406_eoef--OtherExpensesOverAssets_dpn_znZGv4VW1bQg" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 0.63%</span></td></tr>
<tr id="xdx_40F_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zIzz6VEbH2a2" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F4D_ztaJtOnHzLZd">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; vertical-align: bottom"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 0.17%</span></td></tr>
<tr id="xdx_40C_eoef--ExpensesOverAssets_dpn_zcPjuoNUJPXl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 1.29%</span></td></tr>
<tr id="xdx_40F_eoef--FeeWaiverOrReimbursementOverAssets_dp_z6f8dlq4bFGa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 2.5pt double; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5pt; padding-left: 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee
Waiver/Expense Reimbursement<sup id="xdx_F4C_z0MchhdeMnu1">(2)</sup></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; padding-top: 1pt; padding-right: 5pt; padding-left: 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.37)%</span></td></tr>
<tr id="xdx_40E_eoef--NetExpensesOverAssets_dpn_zvbF5WDCiJe9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses After Fee Waiver/Expense Reimbursement<sup id="xdx_F44_zUkZOMTyOgw1">(1)(2)</sup></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> 0.92%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F07_zjysFjrhSRoi">(1)</sup></span></td><td style="text-align: justify"><span id="xdx_F14_z5wzLDV0Ntq1" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies. <span id="xdx_905_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zsD5EPFZSBbb">The total annual fund operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 8pt"><sup id="xdx_F0A_z89s2PX9wwW7">(2)</sup></span></td><td style="text-align: justify"><span id="xdx_F18_z6rWHyl8GW9b" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
Fund’s investment advisor, Rational Advisors, Inc. (the “Advisor”), has contractually agreed to waive all or a portion
of its management fee and/or reimburse certain operating expenses of the Fund to the extent necessary in order to limit the Total Annual
Fund Operating Expenses (exclusive of: (i) acquired fund fees and expenses; (ii) brokerage commissions and trading costs; (iii) interest
(including borrowing costs and overdraft charges); (iv) taxes; (v) short sale dividends and interest expenses; and (vi) non-routine or
extraordinary expenses (such as litigation or reorganizational costs) to not more than 0.75% of the Fund’s daily net assets through
<span id="xdx_90D_eoef--FeeWaiverOrReimbursementOverAssetsDateOfTermination_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zrhKIjznCgSa">August 31, 2027</span>. This arrangement may only be terminated prior to this date with the agreement of the Fund’s Board of Trustees.
Under certain conditions, the Advisor may recoup management fees that it waived or Fund expenses that it paid under this agreement for
a period of up to three years from the date the fees were waived and/or expenses paid, provided such recoupment can be achieved without
causing the expense ratio (after the recoupment is taken into account) to exceed (i) the expense limit in effect at the time the fees
were waived or expenses paid, or (ii) the expense limit in place at the time of the recapture.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0049
0.0000
0.0063
0.0017
0.0129
-0.0037
0.0092
The total annual fund operating expenses in
this fee table will not correlate to the expense ratio in the Fund’s Financial Highlights because the financial statements include
only the direct operating expenses incurred by the Fund, not the indirect costs of investing in other investment companies.
August 31, 2027
Example:
<p id="xdx_A86_eoef--ExpenseExampleNarrativeTextBlock_zCutXlStnwq8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then sell or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. The Example also assumes that your investment has a 5% return each year, the Fund’s operating
expenses remain the same and the expense reduction/reimbursement remains in place for the contractual period only. Although your actual
costs may be higher or lower, based on these assumptions your costs would be:
<div id="xdx_A8C_eoef--ExpenseExampleWithRedemptionTableTextBlock_zgtzgxkOLM85"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zDqvM13GAYJ6" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 60%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="width: 2%"> </td>
<td id="xdx_483_eoef--ExpenseExampleYear01_zv5MKiNU45ke" style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24.5%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_489_eoef--ExpenseExampleYear03_zO6MxzAC9QWh" style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24.5%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_48C_eoef--ExpenseExampleYear05_zDAsAjUxqx67" style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24.5%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear10_zhAJayavH428" style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 24.5%; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_41C_20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_z6wBR9G7QVq5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$94</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$372</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$672</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,524</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: center; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
94
372
672
1524
Portfolio
Turnover:
<p id="xdx_A87_eoef--PortfolioTurnoverTextBlock_zZbxuy9Vy0q1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_903_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zciLjOeEiU1h">303%</span> of the average value of its
portfolio.</span></p>
3.03
Principal
Investment Strategy
<p id="xdx_A84_eoef--StrategyNarrativeTextBlock_zKTjzKo8H6Hk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund employs a “passive management” (or indexing) investment approach designed to track the total return performance, before
fees and expenses, of the Newfound/ReSolve Robust Equity Momentum Index (the “Index”). The Index is based on a proprietary
methodology co-developed and co-owned by Newfound Research LLC and ReSolve Asset Management SEZC (Cayman) (collectively, the “Index
Providers”). The Index is calculated and maintained by Solactive AG. The Fund will invest at least 80% of its assets in the component
securities of the Index.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Index uses a quantitative, rules-based methodology to provide exposure to broad U.S. equity, international equity, and emerging market
equity indices, to the extent that such equity indices are exhibiting positive momentum relative to U.S. Treasury market indices. The
Index generally consists of exchange-traded funds (“ETFs”) that track regional equity indices, representative of U.S. equities,
developed international equities and emerging market equities (collectively, “Regional Equity ETFs”), as well as ETFs that
track U.S. Treasury market indices, representative of short-term (i.e., 1-2 year maturity) U.S. Treasury notes and intermediate-term
(i.e., 7-10 year maturity) U.S. Treasury bonds (collectively, “U.S. Treasury ETFs”). The Regional Equity ETFs that may be
included in the Index invest in the equity securities, including common stock and American Depository Receipts (“ADRs”),
of companies of any market capitalization that are traded on foreign or U.S. exchanges. The Index typically includes between one and
five ETFs. Because the Index is comprised of securities issued by other investment companies, the Fund operates as a “fund of funds.”</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
allocations to Regional Equity ETFs within the Index are determined by proprietary quantitative models that include momentum and trend
following factors that are evaluated over various time horizons. The weightings of Regional Equity ETFs within the Index are determined
based on measures of the momentum of the global equity markets relative to the momentum of U.S. Treasury securities. Regional Equity
ETFs with the strongest momentum characteristics that also exhibit positive trend following characteristics receive greater weights.
The Fund may have 100% portfolio exposure to U.S. Regional Equity ETFs or developed international Regional Equity ETFs, and up to 25%
portfolio exposure to emerging market Regional Equity ETFs.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Index will include U.S. Treasury ETFs when Regional Equity ETFs exhibit negative momentum and trend following characteristics versus
the U.S. Treasury markets. The Fund may have 100% portfolio exposure to U.S. Treasury ETFs under such circumstances.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Index is rebalanced weekly and is reconstituted annually in December.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund generally will use a replication methodology, meaning it will seek to invest in all of the ETFs comprising the Index in proportion
to the weightings in the Index. However, under various circumstances, the Fund may use a representative sampling strategy, whereby the
Fund would invest in what it believes to be a representative sample of the component securities of the Index. To the extent the Fund
uses a representative sampling strategy, it may not track the Index with the same degree of accuracy as would an investment vehicle replicating
the entire Index.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an
industry or group of industries. The Fund may engage in frequent trading of portfolio securities.</span></p>
<p id="xdx_A89_eoef--RiskTextBlock_gRBRTB-XXNR_z5Y9zI62yMij" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its investment objective. Investment markets are unpredictable and there
will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset
value, market price and returns will vary and you could lose money on your investment in the Fund, and those losses could be significant.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any
other government agency, nor is it a complete investment program.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, market price,
total return and value of the Fund and your investment. These risks affect the Fund directly, as well as through the ETFs in which it
invests.</span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRRiskMember_zeSycVBB5gRh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Risk. </b>ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies <span style="text-decoration: underline">discussed below</span> and involve risks that are not found in investments in U.S. companies.
ADRs may not track the price of the underlying foreign securities on which they are based, and their value may change materially at times
when U.S. markets are not open for trading. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRCurrencyRiskMember_zIr0cICy2y5a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Currency Risk</b>. To establish a value for the shares, the issuer establishes a “conversion rate” equal to one share of
an ADR for a certain number of shares of the stock of a foreign company. This “conversion rate” establishes a universal monetary
relationship between the value of the ADR and the local currency of the foreign company stock. Although an ADR is priced in the US dollar,
in order to preserve the uniformity of the established “conversion rate,” movements in the exchange rate of the local currency
versus the US dollar are automatically reflected in the price of the ADR in US dollars. Therefore, even if the price of the foreign security
does not change on its market, if the exchange rate of the local currency relative to the US Dollar declines, the ADR price would decline
by a similar measure.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zo0CdsL3gqsa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to NAV and possibly face delisting by the CBO BZX Exchange, Inc (the “Exchange”).
These risks could cause intra-day bid ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_z2jW2tNlmEqi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> The future direction of interest rates is uncertain at this time. If interest rates rise, there
is risk that rates across the financial system also may rise. Changes in government intervention may have adverse effects on the Fund’s
investments, volatility, and illiquidity in debt markets. Interest rate increases could cause the value of the Fund to decrease. Federal
Reserve policy changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund
investments, which could cause the value of the Fund’s investments and share price to decline. If the Fund invests in derivatives
tied to fixed-income markets, the Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.
To the extent the Fund experiences high redemptions because of these policy changes, the Fund may experience increased portfolio turnover,
which will increase the costs the Fund incurs and may lower its performance. Furthermore, if rising interest rates cause the Fund to
lose enough value, the Fund could also face increased redemptions, which could force the Fund to liquidate investments at disadvantageous
times or prices, thereby adversely affecting the Fund. In addition, decreases in fixed income dealer market-making capacity may persist
in the future, potentially leading to decreased liquidity and increased volatility in the fixed income markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConcentrationRiskMember_z3lWWlNHzqH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration
Risk.</b> The Fund may concentrate its investments in securities of a particular industry to the extent the Index does. Economic, legislative,
or regulatory developments may occur that significantly affect the industry. This may cause the Fund’s net asset value or market price
to fluctuate more than that of a fund that does not concentrate in a particular industry.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--CurrencyRiskMember_zRjlSuwmxvUg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Currency
Risk.</b> If a Regional Equity ETF invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject
to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S.
dollar will decline in value relative to the currency being hedged. As a result, the Regional Equity ETF’s investments in foreign
currency-denominated securities may reduce the Fund’s returns.</span></p><p id="xdx_A9B_zaJGC0KzhU41" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EarlyCloseTradingHaltRiskMember_zGPQrNXcgp9c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Early
Close/Trading Halt Risk.</b> An exchange or market may close or issue trading halts on specific securities, or the ability to buy or
sell certain securities or financial instruments may be restricted, which may prevent the Fund from buying or selling certain securities
or financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price
its investments and may incur substantial trading losses.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_z3MTrmPExL03" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Markets Risk.</b> Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging markets usually are subject to greater market volatility, political, social, and economic instability, uncertainty regarding
the existence of trading markets and more governmental limitations on foreign investment relative to more developed markets. Emerging
market economies may be based on only a few industries, and security issuers may be more susceptible to economic weakness and more likely
to default. Emerging market securities also tend to be less liquid, and the prices of such securities tend to be more volatile than the
securities of issuers located in developed markets. Investments in emerging market securities may be subject to additional transaction
costs, delays in settlement procedures, unexpected market closures, and lack of timely information.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z23xK3hco5Gg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The price of equity securities will fluctuate based on actual or perceived changes in a company’s financial
condition and on market and economic conditions. Investor perceptions are based on various and unpredictable factors, including expectations
regarding government, economic, monetary, and fiscal policies; inflation and interest rates; economic expansion or contraction; tariff
and trade policy; geopolitical unrest; and global or regional political, economic and banking crises.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFRiskMember_zukG0XWacjCi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Risk</b>. Like a mutual fund, the value of an ETF can fluctuate based on the prices of the securities owned by the ETF, and ETFs are
also subject to the following additional risks: (i) the ETF’s market price may be less than its net asset value; (ii) an active
market for the ETF may not develop or be maintained; and (iii) market trading in the ETF may be halted under certain circumstances. Because
the Fund may invest its assets in ETFs that have their own fees and expenses in addition to those charged directly by the Fund, the Fund
may bear higher expenses than a fund that invests directly in individual securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EtfStructureRisksMember_gRBRTB-QRRKXW_zAHRj096ntZk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund is structured as an ETF and, as a result, is subject to special risks, including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C0A_gRBRTB-QRRKXW_zmeB4Y1rUjb6"><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zOJj6R0JnXb1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by
the Fund at NAV only in large blocks known as “Creation Units.” You may incur
brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are typically
bought and sold in the secondary market and investors typically pay brokerage commissions
or other charges on these transactions.</span></td></tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C0A_gRBRTB-QRRKXW_zlkMXOcPv7q4"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zScYwUqjFEs5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for
reasons that, in the view of the Exchange, make trading in Shares inadvisable, such as extraordinary
market volatility. There can be no assurance that Shares will continue to meet the listing
requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized
settlement system, the number of financial institutions that can act as authorized participants
that can post collateral on an agency basis is limited, which may limit the market for the
Fund’s shares.</span></td></tr></table></div></div><p id="xdx_A93_z4nZngeSg0je" style="margin-top: 0; margin-bottom: 0"> </p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zZ4WXxdYfcU1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes
in NAV and supply and demand for Shares and will include a “bid-ask spread” charged
by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means
that Shares may trade at a discount to NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares
of ETFs and in executing trades, which can lead to differences between the market value of
Fund shares and the Fund’s net asset value, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table><div id="xdx_C02_gRBRTB-QRRKXW_zD40mk2dMaA8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value,
particularly during times of market stress, with the result that investors may pay significantly
more or significantly less for Fund shares than the Fund’s net asset value, which is
reflected in the bid/ask price for Fund shares or in the closing price.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed
when the market for the Fund’s shares is open, there may be changes from the last quote
of the closed market and the quote from the Fund’s domestic trading day, which can
lead to differences between the market value of the Fund’s shares and the Fund’s
net asset value, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid
in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect
on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s net asset value, which could
cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialMarketsRegulatoryRiskMember_zC0g5zw0e7p8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
Markets Regulatory Risk. </b>Policy changes by the U.S. government or its regulatory agencies and political events within the U.S. and
abroad may, among other things, affect investor and consumer confidence and increase volatility in the financial markets, perhaps suddenly
and to a significant degree, which may adversely impact the Fund’s operations, universe of potential investment options, and return
potential.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zmXeMZM2f6Cc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk</b>. Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social, and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). All of the risks of investing in foreign securities are typically increased by investing in
emerging market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by
substantial currency conversion costs.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--GeographicConcentrationRiskMember_zwToBINx1YCf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Geographic
Concentration Risk.</b> The Fund may be particularly susceptible to economic, political, regulatory, or other events or conditions affecting
countries within the specific geographic regions in which the Regional Equity ETFs invest. Currency devaluations could occur in countries
that have not yet experienced currency devaluation to date or could continue to occur in countries that have already experienced such
devaluations. As a result, the Fund’s net asset value or market price may be more volatile than a more geographically diversified
fund.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRiskMember_zJrrXzXM2Nwe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index
Risk.</b> Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Index.
Therefore, it would not necessarily sell a security unless that security is removed from the Index, even if that security generally is
underperforming. Additionally, the Fund rebalances its portfolio in accordance with the Index, and, therefore, any changes to the Index’s
rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.</span></p><p id="xdx_A9E_zbpEIKyXcypf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"> </p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRelatedRiskMember_zW1UO86nMFdj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index-Related
Risk</b>. There is no assurance that the Index will be determined, composed, or calculated accurately. While the Index Providers provide
descriptions of what the Index is designed to achieve, the Index Providers do not guarantee the quality, accuracy or completeness of
data in respect of its indices and does not guarantee that the Index will be in line with the described index methodology. For example,
during a period where the Index contains incorrect constituents, the Fund would have market exposure to such constituents and would be
underexposed to the Index’s other constituents. As such, errors may result in a negative or positive performance impact to the
Fund and its shareholders. Shareholders should understand that losses resulting from errors may be borne by the Fund and its shareholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zELUWXN4XJY6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuer
Specific Risk. </b>The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline.
The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z6NaV9TpnQPa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>Investments in larger, more established companies are subject to the risk that larger companies are
sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.
Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Larger,
more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative
smaller competitors, potentially resulting in lower markets for their common stock. During different market cycles, the performance of
large capitalization companies has trailed the overall performance of the broader securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zQKz49fXXEbj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> As the Fund may not fully replicate the Index, it is subject to the risk that its investment management strategy may not produce
the intended results.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zsvxLMbW1cH1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s share price may decline
suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors such as economic growth
and market conditions, interest rate levels, trading and tariff events, geopolitical conflicts, and political events affect the securities
markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidSmallCapStockRiskMember_zQ4rhlPG59jh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mid/Small-Cap
Stock Risk. </b>The value of smaller and medium-capitalized company stocks may be subject to more abrupt or erratic market movements
than those of larger, more established companies or the market averages in general.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_zklAtAh456pa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk.</b> Like all quantitative analysis, the investment models utilized by the Index carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons, including errors,
omissions, imperfections, or malfunctions. Because models are usually constructed based on data supplied by third parties, the success
of the Index’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and the quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--PassiveInvestmentRiskMember_zyHYiDeg6JRb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passive
Investment Risk.</b> The Fund is not actively managed and may be affected by a general decline in market segments related to the Index.
The Fund invests in securities included in, or representative of securities included in, the Index, regardless of their investment merits.
The Fund does not take defensive positions under any market conditions, including conditions that are adverse to the performance of the
Fund, unless such defensive positions are also taken by the Index.</span></p><p id="xdx_A9E_zweA9avXc2yj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"> </p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SamplingRiskMember_z91TX67Cy4nh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sampling
Risk.</b> The sampling approach, if used, could result in the Fund holding a smaller number of securities than are in the Index. As a
result, an adverse development with an issuer of securities held by the Fund could result in a greater decline in NAV or market price
than would be the case if the Fund held all of the securities in the Index. To the extent the assets in the Fund are smaller, these risks
will be greater.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--TrackingErrorRiskMember_zfsQwCgJTb6e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tracking
Error Risk.</b> Tracking error is the divergence of the Fund’s performance from that of the Index. Tracking error may occur because
of imperfect correlation between the Fund’s holdings of portfolio securities and those in the Index, pricing differences, the Fund’s
holding of cash, differences in timing of the accrual of dividends, changes to the Index or the need to meet various regulatory requirements.
This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result
because the Fund incurs fees and expenses, while the Index does not.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zkkYCcg9vjN2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Turnover
Risk</b>. The Fund may have a high turnover of the securities held in its portfolio. Increased portfolio turnover causes the Fund to
incur higher brokerage costs, which may adversely affect the Fund’s performance and may produce increased taxable distributions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zThPoLAtoxXj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs in which the Fund invests are subject to investment advisory and other expenses, which will be indirectly paid
by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in the ETFs, and may be
higher than other funds that invest directly in stocks and bonds. Each of the ETFs is subject to its own specific risks and are also
subject to the following additional risks: (i) the ETF’s market price may be less than its net asset value; (ii) an active
market for the ETF may not develop or be maintained; and (iii) market trading in the ETF may be illiquid or even halted under certain
circumstances.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_z1bhNCNxNJ1c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities
or enterprises may not be backed by the full faith and credit of the U.S. government, which could affect the Fund’s ability to
recover should they default. No assurance can be given that the U.S. government will provide financial support to its agencies and authorities
if it is not obligated by law to do so.</span></p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRRiskMember_zeSycVBB5gRh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Risk. </b>ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies <span style="text-decoration: underline">discussed below</span> and involve risks that are not found in investments in U.S. companies.
ADRs may not track the price of the underlying foreign securities on which they are based, and their value may change materially at times
when U.S. markets are not open for trading. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.</span></p><div id="xdx_C0E_gRBRTB-XXNR_zEJQjpxuIs8j"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRCurrencyRiskMember_zIr0cICy2y5a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Currency Risk</b>. To establish a value for the shares, the issuer establishes a “conversion rate” equal to one share of
an ADR for a certain number of shares of the stock of a foreign company. This “conversion rate” establishes a universal monetary
relationship between the value of the ADR and the local currency of the foreign company stock. Although an ADR is priced in the US dollar,
in order to preserve the uniformity of the established “conversion rate,” movements in the exchange rate of the local currency
versus the US dollar are automatically reflected in the price of the ADR in US dollars. Therefore, even if the price of the foreign security
does not change on its market, if the exchange rate of the local currency relative to the US Dollar declines, the ADR price would decline
by a similar measure.</span></p><div id="xdx_C0F_gRBRTB-XXNR_zagAd9adrV1d"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zo0CdsL3gqsa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk.</b> The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to NAV and possibly face delisting by the CBO BZX Exchange, Inc (the “Exchange”).
These risks could cause intra-day bid ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0A_gRBRTB-XXNR_zayKxNN3M2Rd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_z2jW2tNlmEqi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> The future direction of interest rates is uncertain at this time. If interest rates rise, there
is risk that rates across the financial system also may rise. Changes in government intervention may have adverse effects on the Fund’s
investments, volatility, and illiquidity in debt markets. Interest rate increases could cause the value of the Fund to decrease. Federal
Reserve policy changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund
investments, which could cause the value of the Fund’s investments and share price to decline. If the Fund invests in derivatives
tied to fixed-income markets, the Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives.
To the extent the Fund experiences high redemptions because of these policy changes, the Fund may experience increased portfolio turnover,
which will increase the costs the Fund incurs and may lower its performance. Furthermore, if rising interest rates cause the Fund to
lose enough value, the Fund could also face increased redemptions, which could force the Fund to liquidate investments at disadvantageous
times or prices, thereby adversely affecting the Fund. In addition, decreases in fixed income dealer market-making capacity may persist
in the future, potentially leading to decreased liquidity and increased volatility in the fixed income markets.</span></p><div id="xdx_C0B_gRBRTB-XXNR_z1WjYRMsfK0b"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConcentrationRiskMember_z3lWWlNHzqH8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration
Risk.</b> The Fund may concentrate its investments in securities of a particular industry to the extent the Index does. Economic, legislative,
or regulatory developments may occur that significantly affect the industry. This may cause the Fund’s net asset value or market price
to fluctuate more than that of a fund that does not concentrate in a particular industry.</span></p><div id="xdx_C05_gRBRTB-XXNR_zwjSgovnvLsc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--CurrencyRiskMember_zRjlSuwmxvUg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Currency
Risk.</b> If a Regional Equity ETF invests in securities that trade in, and receive revenues in, foreign currencies, it will be subject
to the risk that those currencies will decline in value relative to the U.S. dollar, or, in the case of hedging positions, that the U.S.
dollar will decline in value relative to the currency being hedged. As a result, the Regional Equity ETF’s investments in foreign
currency-denominated securities may reduce the Fund’s returns.</span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EarlyCloseTradingHaltRiskMember_zGPQrNXcgp9c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Early
Close/Trading Halt Risk.</b> An exchange or market may close or issue trading halts on specific securities, or the ability to buy or
sell certain securities or financial instruments may be restricted, which may prevent the Fund from buying or selling certain securities
or financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price
its investments and may incur substantial trading losses.</span></p><div id="xdx_C0C_gRBRTB-XXNR_zLSUdOBlNQw4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_z3MTrmPExL03" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Emerging
Markets Risk.</b> Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems
with fewer security holder rights. Securities law and the enforcement of systems of taxation in many emerging market countries may change
quickly and unpredictably, and the ability to bring and enforce actions, or to obtain information needed to pursue or enforce such actions,
may be limited. Companies in emerging market countries generally may be subject to less stringent regulatory, disclosure, financial reporting,
accounting, auditing and recordkeeping standards than companies in more developed countries. As a result, information, including financial
information, about such companies may be less available and reliable, which can impede the Fund’s ability to evaluate such companies.
Emerging markets usually are subject to greater market volatility, political, social, and economic instability, uncertainty regarding
the existence of trading markets and more governmental limitations on foreign investment relative to more developed markets. Emerging
market economies may be based on only a few industries, and security issuers may be more susceptible to economic weakness and more likely
to default. Emerging market securities also tend to be less liquid, and the prices of such securities tend to be more volatile than the
securities of issuers located in developed markets. Investments in emerging market securities may be subject to additional transaction
costs, delays in settlement procedures, unexpected market closures, and lack of timely information.</span></p><div id="xdx_C0D_gRBRTB-XXNR_zcw1ZO5Z5EY"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z23xK3hco5Gg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The price of equity securities will fluctuate based on actual or perceived changes in a company’s financial
condition and on market and economic conditions. Investor perceptions are based on various and unpredictable factors, including expectations
regarding government, economic, monetary, and fiscal policies; inflation and interest rates; economic expansion or contraction; tariff
and trade policy; geopolitical unrest; and global or regional political, economic and banking crises.</span></p><div id="xdx_C06_gRBRTB-XXNR_zC8HfE9CGVe1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFRiskMember_zukG0XWacjCi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Risk</b>. Like a mutual fund, the value of an ETF can fluctuate based on the prices of the securities owned by the ETF, and ETFs are
also subject to the following additional risks: (i) the ETF’s market price may be less than its net asset value; (ii) an active
market for the ETF may not develop or be maintained; and (iii) market trading in the ETF may be halted under certain circumstances. Because
the Fund may invest its assets in ETFs that have their own fees and expenses in addition to those charged directly by the Fund, the Fund
may bear higher expenses than a fund that invests directly in individual securities.</span></p><div id="xdx_C0C_gRBRTB-XXNR_zQlxA2G8ufll"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--EtfStructureRisksMember_gRBRTB-QRRKXW_zAHRj096ntZk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks</b>. The Fund is structured as an ETF and, as a result, is subject to special risks, including:</span></p><div id="xdx_C0D_gRBRTB-XXNR_zkQLk4rr3h63"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zOJj6R0JnXb1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by
the Fund at NAV only in large blocks known as “Creation Units.” You may incur
brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are typically
bought and sold in the secondary market and investors typically pay brokerage commissions
or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-XXNR_zCofC7ZIbpHh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zScYwUqjFEs5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for
reasons that, in the view of the Exchange, make trading in Shares inadvisable, such as extraordinary
market volatility. There can be no assurance that Shares will continue to meet the listing
requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized
settlement system, the number of financial institutions that can act as authorized participants
that can post collateral on an agency basis is limited, which may limit the market for the
Fund’s shares.</span></td></tr></table></div><div id="xdx_C01_gRBRTB-XXNR_zhmObBeXSGh1"><p id="xdx_A93_z4nZngeSg0je" style="margin-top: 0; margin-bottom: 0"> </p></div><div id="xdx_C01_gRBRTB-XXNR_zFZu7lFupWYj"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zZ4WXxdYfcU1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes
in NAV and supply and demand for Shares and will include a “bid-ask spread” charged
by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means
that Shares may trade at a discount to NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-XXNR_zM7RyNOkP44l"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares
of ETFs and in executing trades, which can lead to differences between the market value of
Fund shares and the Fund’s net asset value, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value,
particularly during times of market stress, with the result that investors may pay significantly
more or significantly less for Fund shares than the Fund’s net asset value, which is
reflected in the bid/ask price for Fund shares or in the closing price.</span></td></tr></table><div id="xdx_C07_gRBRTB-XXNR_zy7qFAlDlB8i"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed
when the market for the Fund’s shares is open, there may be changes from the last quote
of the closed market and the quote from the Fund’s domestic trading day, which can
lead to differences between the market value of the Fund’s shares and the Fund’s
net asset value, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table>
</div><div id="xdx_C03_gRBRTB-XXNR_zjvrxi6FjPt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid
in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect
on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s net asset value, which could
cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zOJj6R0JnXb1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by
the Fund at NAV only in large blocks known as “Creation Units.” You may incur
brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are typically
bought and sold in the secondary market and investors typically pay brokerage commissions
or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C0C_gRBRTB-QRRKXW_zsIVSyOhCJbl"><div id="xdx_C06_gRBRTB-XXNR_zCofC7ZIbpHh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zScYwUqjFEs5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for
reasons that, in the view of the Exchange, make trading in Shares inadvisable, such as extraordinary
market volatility. There can be no assurance that Shares will continue to meet the listing
requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized
settlement system, the number of financial institutions that can act as authorized participants
that can post collateral on an agency basis is limited, which may limit the market for the
Fund’s shares.</span></td></tr></table></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zZ4WXxdYfcU1">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes
in NAV and supply and demand for Shares and will include a “bid-ask spread” charged
by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means
that Shares may trade at a discount to NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C03_gRBRTB-QRRKXW_zgpF7iHbifkj"><div id="xdx_C06_gRBRTB-XXNR_zM7RyNOkP44l"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares
of ETFs and in executing trades, which can lead to differences between the market value of
Fund shares and the Fund’s net asset value, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_C0D_gRBRTB-XXNR_zs2UACSqHrL8"><div id="xdx_C02_gRBRTB-QRRKXW_zD40mk2dMaA8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value,
particularly during times of market stress, with the result that investors may pay significantly
more or significantly less for Fund shares than the Fund’s net asset value, which is
reflected in the bid/ask price for Fund shares or in the closing price.</span></td></tr></table></div></div>
<div id="xdx_C06_gRBRTB-QRRKXW_zFaA8z2rn6dd"><div id="xdx_C07_gRBRTB-XXNR_zy7qFAlDlB8i"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed
when the market for the Fund’s shares is open, there may be changes from the last quote
of the closed market and the quote from the Fund’s domestic trading day, which can
lead to differences between the market value of the Fund’s shares and the Fund’s
net asset value, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table>
</div></div>
<div id="xdx_C0F_gRBRTB-QRRKXW_zBJf7AzOjW17"><div id="xdx_C03_gRBRTB-XXNR_zjvrxi6FjPt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; width: 0.25in; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid
in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect
on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s net asset value, which could
cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_C0C_gRBRTB-XXNR_zTy9d7hxkMxe"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialMarketsRegulatoryRiskMember_zC0g5zw0e7p8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Financial
Markets Regulatory Risk. </b>Policy changes by the U.S. government or its regulatory agencies and political events within the U.S. and
abroad may, among other things, affect investor and consumer confidence and increase volatility in the financial markets, perhaps suddenly
and to a significant degree, which may adversely impact the Fund’s operations, universe of potential investment options, and return
potential.</span></p><div id="xdx_C0D_gRBRTB-XXNR_zPqtX5UMGfv5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_zmXeMZM2f6Cc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Investment Risk</b>. Investments in foreign securities tend to be more volatile and less liquid than investments in U.S. securities because,
among other things, they involve risks relating to political, social, and economic developments abroad, including economic sanctions,
as well as risks resulting from differences between the regulations and reporting standards and practices to which U.S. and foreign issuers
are subject. Investing in foreign securities includes trading related risks (e.g., government supervision and regulation of foreign securities
and currency markets, trading systems and brokers may be less than in the U.S., and foreign securities may be subject to foreign governmental
restrictions such as exchange controls). All of the risks of investing in foreign securities are typically increased by investing in
emerging market countries. Securities denominated in foreign currencies may be adversely affected by changes in currency rates and by
substantial currency conversion costs.</span></p><div id="xdx_C05_gRBRTB-XXNR_zjnoYxsCqwP7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--GeographicConcentrationRiskMember_zwToBINx1YCf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Geographic
Concentration Risk.</b> The Fund may be particularly susceptible to economic, political, regulatory, or other events or conditions affecting
countries within the specific geographic regions in which the Regional Equity ETFs invest. Currency devaluations could occur in countries
that have not yet experienced currency devaluation to date or could continue to occur in countries that have already experienced such
devaluations. As a result, the Fund’s net asset value or market price may be more volatile than a more geographically diversified
fund.</span></p><div id="xdx_C0C_gRBRTB-XXNR_z3P0v8MsnTt7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRiskMember_zJrrXzXM2Nwe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index
Risk.</b> Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Index.
Therefore, it would not necessarily sell a security unless that security is removed from the Index, even if that security generally is
underperforming. Additionally, the Fund rebalances its portfolio in accordance with the Index, and, therefore, any changes to the Index’s
rebalance schedule will result in corresponding changes to the Fund’s rebalance schedule.</span></p>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRelatedRiskMember_zW1UO86nMFdj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index-Related
Risk</b>. There is no assurance that the Index will be determined, composed, or calculated accurately. While the Index Providers provide
descriptions of what the Index is designed to achieve, the Index Providers do not guarantee the quality, accuracy or completeness of
data in respect of its indices and does not guarantee that the Index will be in line with the described index methodology. For example,
during a period where the Index contains incorrect constituents, the Fund would have market exposure to such constituents and would be
underexposed to the Index’s other constituents. As such, errors may result in a negative or positive performance impact to the
Fund and its shareholders. Shareholders should understand that losses resulting from errors may be borne by the Fund and its shareholders.</span></p><div id="xdx_C09_gRBRTB-XXNR_zlq4gtGVOkFl"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zELUWXN4XJY6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuer
Specific Risk. </b>The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s shares, to decline.
The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole.</span></p><div id="xdx_C04_gRBRTB-XXNR_zVkulqfAkDW1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z6NaV9TpnQPa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk. </b>Investments in larger, more established companies are subject to the risk that larger companies are
sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.
Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Larger,
more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative
smaller competitors, potentially resulting in lower markets for their common stock. During different market cycles, the performance of
large capitalization companies has trailed the overall performance of the broader securities markets.</span></p><div id="xdx_C02_gRBRTB-XXNR_zpvonOJTqwq9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zQKz49fXXEbj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> As the Fund may not fully replicate the Index, it is subject to the risk that its investment management strategy may not produce
the intended results.</span></p><div id="xdx_C0F_gRBRTB-XXNR_zqhX3j0rHd1b"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zsvxLMbW1cH1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s share price may decline
suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors such as economic growth
and market conditions, interest rate levels, trading and tariff events, geopolitical conflicts, and political events affect the securities
markets.</span></p><div id="xdx_C07_gRBRTB-XXNR_ziBmAVdutTLg"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidSmallCapStockRiskMember_zQ4rhlPG59jh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Mid/Small-Cap
Stock Risk. </b>The value of smaller and medium-capitalized company stocks may be subject to more abrupt or erratic market movements
than those of larger, more established companies or the market averages in general.</span></p><div id="xdx_C0D_gRBRTB-XXNR_zM8Y4M1OzUme"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_zklAtAh456pa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk.</b> Like all quantitative analysis, the investment models utilized by the Index carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons, including errors,
omissions, imperfections, or malfunctions. Because models are usually constructed based on data supplied by third parties, the success
of the Index’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and the quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><div id="xdx_C08_gRBRTB-XXNR_zbLi8IVH5vaa"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--PassiveInvestmentRiskMember_zyHYiDeg6JRb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passive
Investment Risk.</b> The Fund is not actively managed and may be affected by a general decline in market segments related to the Index.
The Fund invests in securities included in, or representative of securities included in, the Index, regardless of their investment merits.
The Fund does not take defensive positions under any market conditions, including conditions that are adverse to the performance of the
Fund, unless such defensive positions are also taken by the Index.</span></p>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SamplingRiskMember_z91TX67Cy4nh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sampling
Risk.</b> The sampling approach, if used, could result in the Fund holding a smaller number of securities than are in the Index. As a
result, an adverse development with an issuer of securities held by the Fund could result in a greater decline in NAV or market price
than would be the case if the Fund held all of the securities in the Index. To the extent the assets in the Fund are smaller, these risks
will be greater.</span></p><div id="xdx_C0C_gRBRTB-XXNR_zzoBpcGFzDgf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--TrackingErrorRiskMember_zfsQwCgJTb6e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tracking
Error Risk.</b> Tracking error is the divergence of the Fund’s performance from that of the Index. Tracking error may occur because
of imperfect correlation between the Fund’s holdings of portfolio securities and those in the Index, pricing differences, the Fund’s
holding of cash, differences in timing of the accrual of dividends, changes to the Index or the need to meet various regulatory requirements.
This risk may be heightened during times of increased market volatility or other unusual market conditions. Tracking error also may result
because the Fund incurs fees and expenses, while the Index does not.</span></p><div id="xdx_C07_gRBRTB-XXNR_zvgJx1Nskn42"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--TurnoverRiskMember_zkkYCcg9vjN2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Turnover
Risk</b>. The Fund may have a high turnover of the securities held in its portfolio. Increased portfolio turnover causes the Fund to
incur higher brokerage costs, which may adversely affect the Fund’s performance and may produce increased taxable distributions.</span></p><div id="xdx_C07_gRBRTB-XXNR_zn1dZKUdfS29"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zThPoLAtoxXj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk. </b>The ETFs in which the Fund invests are subject to investment advisory and other expenses, which will be indirectly paid
by the Fund. As a result, the cost of investing in the Fund will be higher than the cost of investing directly in the ETFs, and may be
higher than other funds that invest directly in stocks and bonds. Each of the ETFs is subject to its own specific risks and are also
subject to the following additional risks: (i) the ETF’s market price may be less than its net asset value; (ii) an active
market for the ETF may not develop or be maintained; and (iii) market trading in the ETF may be illiquid or even halted under certain
circumstances.</span></p><div id="xdx_C00_gRBRTB-XXNR_zpd60MAHjuA4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_z1bhNCNxNJ1c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored instrumentalities
or enterprises may not be backed by the full faith and credit of the U.S. government, which could affect the Fund’s ability to
recover should they default. No assurance can be given that the U.S. government will provide financial support to its agencies and authorities
if it is not obligated by law to do so.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Performance:
<p id="xdx_A87_eoef--PerformanceNarrativeTextBlock_zCt5858Imh88" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90D_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_z4cPCULQAege">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of the Newfound/ReSolve
Robust Equity Momentum Index, as well as a broad-based market index reflecting the performance of growth stocks.</span> <span id="xdx_901_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_z6lxz5jqAw3j">How the Fund has performed
in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.</span> Updated performance information
is available at no cost at <span style="text-decoration: underline"><span id="xdx_908_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zDweDuiQeoj6">www.strategysharesetfs.com</span></span> or by calling <span id="xdx_904_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zYDAXSiRy1l3">(855) 4SS-ETFS or (855) 477-3837</span>.</span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of the Newfound/ReSolve
Robust Equity Momentum Index, as well as a broad-based market index reflecting the performance of growth stocks.
How the Fund has performed
in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.
www.strategysharesetfs.com
(855) 4SS-ETFS or (855) 477-3837
Annual
Total Return
<div id="xdx_A85_eoef--BarChartTableTextBlock_zAkyjc9yofwb"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zWoLpB2fXkxk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; display: none" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: left">
<td style="width: 16%"> </td>
<td id="xdx_498_20200101__20201231_zeqyPds8LLz" style="width: 14%">2020</td>
<td id="xdx_498_20210101__20211231_zBblO2asugp" style="width: 14%">2021</td>
<td id="xdx_498_20220101__20221231_zIpdmUZWArQ6" style="width: 14%">2022</td>
<td id="xdx_498_20230101__20231231_zrrEXXYiaNk4" style="width: 14%">2023</td>
<td id="xdx_498_20240101__20241231_zSPx3KWpgYek" style="width: 14%">2024</td>
<td id="xdx_498_20250101__20251231_zfL38eSo0QC8" style="width: 14%">2025</td></tr>
<tr id="xdx_404_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_z6o0WKpjOAld" style="vertical-align: top; text-align: left">
<td> </td>
<td>-3.39%</td>
<td>21.33%</td>
<td>-18.81%</td>
<td>11.12%</td>
<td>20.55%</td>
<td>9.19%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><img alt="(BAR CHAT)" src="st012_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
-0.0339
0.2133
-0.1881
0.1112
0.2055
0.0919
<p id="xdx_A8A_eoef--BarChartClosingTextBlock_zZh84dlVgcsi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_90B_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_z6JrdgDBOHza">the highest return for a quarter was</span> <span id="xdx_904_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_z57oPxu5IWm8">12.13%</span> (quarter ended <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zoYEZO4JDcYf">December 31, 2020</span>), and <span id="xdx_90C_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zLJCsDvMtnD4">the lowest return
for a quarter was</span> <span id="xdx_900_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zJB1XhBneQLb">(19.46)%</span> (quarter ended <span id="xdx_90D_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zLyFEqt2MVt1">March 31, 2020</span>).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_906_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_ztRUBGj2S1Qe">The
Fund’s year-to-date return</span> as of <span id="xdx_907_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zHabyk9ZexZc">June 30, 2026</span> was <span id="xdx_905_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_z0NSA1jRDEo3">6.31%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
the highest return for a quarter was
0.1213
2020-12-31
the lowest return
for a quarter was
-0.1946
2020-03-31
The
Fund’s year-to-date return
2026-06-30
0.0631
Average
Annual Total Returns
(for the periods ended December 31, 2025)
<div id="xdx_A88_eoef--PerformanceTableTextBlock_zlMySHdWmdA"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zPmvD8jvp82g" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 50%; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_494_20250101__20251231_zxMUl3jpJH08" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1
Year</b></span></td>
<td id="xdx_49C_20210101__20251231_zx3zVLQCWIX6" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 15%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5
Years</b></span></td>
<td id="xdx_497_20191101__20251231_z79vfUnTGtAi" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception <br/>
(<span id="xdx_90C_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_zwTStPWv0807">November 1, 2019</span>)</b></span></td></tr>
<tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_zyz9lOentzJ5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member_zQRxoN1jRqEj">Return
Before Taxes</span></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.19%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.58%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.29%</span></td></tr>
<tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_z1P4SywNL2o3" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.80%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.86%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.63%</span></td></tr>
<tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--ClassAxis__custom--C000215207Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zJs3UZDmaBX3" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt 1pt 0.25in; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.69%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.85%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.84%</span></td></tr>
<tr id="xdx_404_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--PerformanceMeasureAxis__custom--NewfoundReSolveRobustEquityMomentumIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zfWHdwl5kpF4" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Newfound/ReSolve
Robust Equity Momentum Index (<span id="xdx_902_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zR88eFjvCNI1">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.38%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.40%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.80%</span></td></tr>
<tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--PerformanceMeasureAxis__custom--MSCIACWIGrossTotalReturnReflectsNoDeductionForFeesExpensesOrTaxesMember_zVOvW9ewmmj7" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MSCI
ACWI Gross Total Return (<span id="xdx_902_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zI8WE8mvFxQj">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">22.87%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.70%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.27%</span></td></tr>
<tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000066847Member__oef--PerformanceMeasureAxis__custom--SAndPTargetRiskBalancedIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zRLRt0hKdgB2" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: top; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>S&P
Target Risk Balanced Index (<span id="xdx_902_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000066847Member_zKdKG623ikdi">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.59%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.05%</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.12%</span></td></tr>
</table>
2019-11-01
Return
Before Taxes
0.0919
0.0758
0.0629
0.0680
0.0686
0.0563
0.0669
0.0585
0.0484
reflects no deduction for fees, expenses or taxes
0.1038
0.0840
0.0680
reflects no deduction for fees, expenses or taxes
0.2287
0.1170
0.1327
reflects no deduction for fees, expenses or taxes
0.1659
0.0705
0.0812
FUND
SUMMARY: STRATEGY SHARES NASDAQ 7HANDL™ INDEX ETF
Investment
Objective:
<p id="xdx_A8A_eoef--ObjectivePrimaryTextBlock_zuRqlKTxbjj4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund’s investment objective is to seek </span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">investment
results that correlate generally, before fees and expenses, to the price and yield performance of the Nasdaq 7HANDL™ Index.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A8D_eoef--ExpenseNarrativeTextBlock_zYH1L0q9y9M8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A89_eoef--ShareholderFeesTableTextBlock_zxBKipnTbRu9"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zEfWft4FDF4h" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td id="xdx_491_20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zOHKbbSyBTX4" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr>
<tr id="xdx_401_eoef--ShareholderFeeOther_dn_zxG6qEfun9jd" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif">
<td style="font: 10pt Times New Roman, Times, Serif; width: 75%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 15%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A86_eoef--AnnualFundOperatingExpensesTableTextBlock_zt5Z9ETT7V2k"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5C_dU_zm9DbnHF44Ge" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 75%; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses <br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_491_20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zcKlMMj0C2ih" style="border-top: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 15%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_401_eoef--ManagementFeesOverAssets_dpn_zTu6otLNtbZ7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.60%</span></td></tr>
<tr id="xdx_400_eoef--DistributionAndService12b1FeesOverAssets_dpn_z8rYVJuKTXKe" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40F_eoef--OtherExpensesOverAssets_dpn_zQYZUTZOsFe5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.19%</span></td></tr>
<tr id="xdx_40A_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zQ7yXGhNgEYa" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Acquired
Fund Fees and Expenses<sup id="xdx_F49_znEU9dzYcrr6">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.15%</span></td></tr>
<tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zhwfy09IOkP1" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Fund Operating Expenses </span></td>
<td style="border-right: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.94%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 90%"><tr style="vertical-align: top">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F00_zKi8veNp7h3l" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="text-align: justify"><span id="xdx_F13_zlBIOty5Xgv3" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">Acquired
Fund Fees and Expenses are the indirect costs of investing in other investment companies.
<span id="xdx_904_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zD4002u84xBj">The total annual fund operating expenses in this fee table will not correlate to the expense
ratio in the Fund’s Financial Highlights because the financial statements include only
the direct operating expenses incurred by the Fund, not the indirect costs of investing in
other investment companies.</span></span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0060
0.0000
0.0019
0.0015
0.0094
The total annual fund operating expenses in this fee table will not correlate to the expense
ratio in the Fund’s Financial Highlights because the financial statements include only
the direct operating expenses incurred by the Fund, not the indirect costs of investing in
other investment companies.
Example:
<p id="xdx_A80_eoef--ExpenseExampleNarrativeTextBlock_zEZfPuUafSqf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then either hold or sell
all of your shares at the end of those periods. This Example does not reflect the effect of brokerage commissions or other transaction
costs you pay in connection with the purchase or sale of Fund shares. This 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:
<div id="xdx_A82_eoef--ExpenseExampleWithRedemptionTableTextBlock_zUvnUMSg9Egl"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zjAAZGydsYYa" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="width: 2%"> </td>
<td id="xdx_48F_eoef--ExpenseExampleYear01_zKYHdHOB6o8i" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_48B_eoef--ExpenseExampleYear03_zx2Wgotvouya" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_480_eoef--ExpenseExampleYear05_zFWfQSee6h9a" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_481_eoef--ExpenseExampleYear10_zVD3MRjl54g4" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_415_20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zOfkZkkrZzrb" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$96</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$300</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$520</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,155</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
96
300
520
1155
Portfolio
Turnover:
<p id="xdx_A8F_eoef--PortfolioTurnoverTextBlock_zS4YfHMIVSc4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 fiscal year ended April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_904_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zwDAbDwt9LA7">41%</span> of the average value of its
portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.41
Principal
Investment Strategy:
<p id="xdx_A83_eoef--StrategyNarrativeTextBlock_zK1hpbHy6wme" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund will invest at least 80% of its assets in securities of the Nasdaq 7HANDL™ Index (the “Index”). The Index generally
consists of securities issued by exchange-traded funds (“ETFs”) and is split into two components, with a 50% allocation to
fixed income and equity ETFs (the “Core Portfolio”) and a 50% allocation to ETFs of 12 asset categories (the “Explore
Portfolio”), as described below. Because the Index is comprised of securities issued by other investment companies, the Fund operates
as a “fund of funds.”</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By
tracking the broadly diversified Index, the Fund seeks to offer the potential for high monthly distributions while maintaining a stable
net asset value over time. The Index is expected to include 19 ETFs. The goal of the Index is to represent an allocation to a balanced
portfolio of U.S. equities, fixed income securities and alternative investments, then employ leverage in an amount equal to 23% of the
total portfolio (measured as a percent of the combined base of the portfolio plus the leverage amount (i.e., 30%/(100%+30%)=23%)). Accordingly,
returns for the Index are calculated assuming leverage on the underlying portfolio in the amount of 23% (net of the estimated cost of
employing such leverage). To achieve leveraged returns, the Fund will purchase a total return swap on a securities-only version of the
Index known as the Nasdaq HANDL™ Base Index (the “Base Index”), which is composed of only ETFs and does not include
a leverage component. The Index will have risk characteristics similar to the broad US capital markets and will generally rise and fall
with prevailing market conditions, with the goal, but not the guarantee, of achieving a total return sufficient, over time and after
expenses, to support a seven percent (7.0%) annual distribution rate.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Core Portfolio component of the Index seeks to provide broad exposure to the U.S. fixed-income and equity markets and consists of a 70%
allocation to U.S. aggregate fixed-income ETFs (the “Core Fixed Income Sleeve”) and a 30% allocation to U.S. large capitalization
equity ETFs (the “Core Equity Sleeve”). The Index defines U.S. aggregate fixed income ETFs as those ETFs that provide exposure
to the entire U.S. investment grade bond market without limitation of duration or issuer. The Index defines U.S. large cap equity ETFs
as those ETFs that provide exposure to a similar market capitalization range of the large capitalization segment of the Nasdaq US Benchmark
Index.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Core Fixed Income Sleeve weighting methodology allocates on an equal weight basis to the three U.S. aggregate bond ETFs with the lowest
expense ratios after waivers, provided each has at least $5 billion of assets under management. Half of the Core Equity Sleeve is allocated
on an equal weight basis to the three U.S. large cap ETFs with the lowest expense ratios after waivers, and the remaining half of the
Core Equity Sleeve is allocated to the ETF with the lowest expense ratio that tracks the Nasdaq-100 Index®, provided it has at least
$5 billion of assets under management. The Core Portfolio is rebalanced monthly to weight the Core Portfolio in accordance with the Index’s
methodology and is reconstituted annually in January.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 1.05pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Explore Portfolio component of the Index employs a 100% rules-based proprietary momentum-tilted, optimized allocation methodology to
provide exposure to non-levered ETFs across a range of U.S. asset categories that have historically provided high levels of income. The
following 12 asset categories are represented in the Explore Portfolio, and the Fund expects that less than 16% of the Fund’s assets
will be invested in any one category: <i>Dividend Equity</i> – an ETF that provides exposure to domestic dividend-paying stocks;
<i>Options Overlay</i> – an ETF that provides exposure to equity portfolios that include an options overlay; <i>High-Yield Bonds
</i>– an ETF that provides exposure to domestic high-yield corporate bonds (also known as “junk bonds”) of any duration
or maturity; <i>Investment Grade Bonds</i> – an ETF that provides exposure to domestic investment grade corporate bonds of any
duration or maturity; <i>MLPs</i> – an ETF that provides exposure to master limited partnerships; <i>MBS</i> – an ETF that
provides exposure to mortgage-backed securities (“MBS”), including residential, commercial, agency, and non-agency MBS, high-yield
MBS, collateralized debt obligations, and collateralized loan obligations; <i>Active Fixed Income</i> – an ETF that provides broad
exposure to actively managed fixed income ETFs that invest in securities of any duration or maturity; <i>Preferred Securities</i> –
an ETF that provides exposure to domestic preferred securities; <i>REITs</i> – an ETF that provides exposure to domestic real estate
investment trusts; <i>Growth & Income</i> – an ETF that provides exposure to multiple asset portfolios of stocks and bonds
or ETFs of stocks and bonds; <i>Utilities</i> – an ETF that provides exposure to domestic utility securities; and <i>Build America
Bonds</i> – an ETF that provides exposure to Build America Bonds. Build America Bonds are taxable municipal bonds that include
tax credits and/or federal subsidies for bondholders and state and local bond issuers. These bonds may be of any maturity or duration.
</span>The Explore Portfolio includes ETFs that can invest without limit as to maturity or duration. Up to 9% of the Index may be exposed
to below investment grade securities (i.e., junk bonds) that are rated C or lower through its High Yield Bonds asset category. The Index’s
overall indirect exposure to defaulted securities will be less than 5% of the Index.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
asset category in the Explore Portfolio is represented by a single ETF. By default, the ETF representative of an asset category is the
ETF with the lowest expense ratio in the asset category, provided it has at least $2 billion of assets under management. If no ETFs have
at least $2 billion of assets under management, the largest ETF in the asset category shall serve as the ETF representative. In such
cases, an ETF that is not the largest ETF in the asset category may serve as the ETF representative if it has an expense ratio after
waivers at least 20% lower than the largest ETF in the asset category. If there are multiple such ETFs with expense ratios at least 20%
lower than that of the largest ETF, the ETF with the lowest expense ratio after waivers shall serve as the ETF representative of the
asset category. An ETF cannot represent more than one asset category.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
12 ETF representatives of the Explore Portfolio asset categories are weighted using the Index’s proprietary weighting methodology
that measures an ETF’s returns, dividend and volatility, subject to the constraints that no position may be less than 15% nor more
than 185% of an equal weight position within the Explore Portfolio of the Index. The Explore Portfolio is rebalanced on a monthly basis
to weight the Explore Portfolio in accordance with this methodology and is reconstituted annually in January.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund employs a “passive management” investment strategy in seeking to achieve its investment objective. The Fund will typically
invest 90% of its assets in the Index’s component securities and hold 10% of its assets in cash and cash equivalents, including
money market mutual funds and treasury securities, to serve as collateral for the Fund’s 40% total return swap (measured as a percent
of the Fund’s portfolio) on the Base Index. The Fund does not include the swap for purposes of the 80% investment test described
above. Unlike many investment companies, the Fund does not try to “beat” the Index and does not seek temporary defensive
positions when markets decline or appear overvalued. <span style="background-color: white">The Fund generally will use a replication
methodology, meaning it will seek to invest in all of the ETFs comprising the Index in proportion to the weightings in the Index. However,
under various circumstances, the Fund may use a representative sampling strategy, whereby the Fund would invest in what it believes to
be a representative sample of the component securities of the Index. To the extent the Fund uses a representative sampling strategy,
it may not track the Index with the same degree of accuracy as would an investment vehicle replicating the entire Index.</span> The Fund
may concentrate its investments in a particular industry or group of industries to the extent that the Index concentrates in an industry
or group of industries. As of the date of this prospectus, the Index is not concentrated.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.5pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Index and Base Index were created, and are provided, by Bryant Avenue Ventures LLC (the “Index Provider”) and are calculated
by Nasdaq, Inc. (the “Index Calculator”). The Index Provider and Index Calculator are not affiliated with the Fund or the
Advisor.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Distribution
Policy:</i> In order to allow shareholders of the Fund to realize a predictable, but not assured, level of cash flow, the Fund has adopted
a policy (which may be modified at any time by its Board of Trustees) to pay monthly distributions on Fund shares at a target rate that
represents an annualized payout of approximately 7.0% on the Fund’s per-share net asset value on the date of a distribution’s
declaration. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits.
However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the source of a distribution
from the Fund is net profit. For more information about the Fund’s distribution policy, please turn to “Additional Information
About the Fund’s Principal Investment Strategies and Related Risks – Principal Investment Strategies –Distribution
Policy and Goals” section in the Fund’s Prospectus.</span></p>
<p id="xdx_A88_eoef--RiskTextBlock_gRBRTB-TFO_zo1hSpJTlFL4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any ETF, there is no guarantee that the Fund will achieve its investment objective. Investment markets are unpredictable and there
will be certain market conditions where the Fund will not meet its investment objective and will lose money. The Fund’s net asset
value, market price and returns will vary and you could lose money on your investment in the Fund, and those losses could be significant.
An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any
other government agency, nor is it a complete investment program.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the net asset value, market price,
total return and the value of the Fund and your investment. These risks affect the Fund directly, as well as through the ETFs in which
it invests. For purposes of the discussion below, “Fund” means the Fund and/or one or more of the ETFs in which the Fund
invests.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zVxa5Hsj5JU8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with Foreside Fund Services, LLC, the Fund’s distributor
(the “Distributor”). To the extent these Authorized Participants exit the business or are unable to process creation and/or
redemption orders and no other Authorized Participant is able to step forward to process creation and/or redemption orders, in either
of these cases, shares of the Fund may trade like closed-end fund shares at a discount to NAV and possibly face delisting by the Nasdaq
Stock Market (the “Exchange”). These risks could cause intra-day bid-ask spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--BuildAmericaBondsRiskMember_zhSVlULCC8t7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Build
America Bonds Risk. </b>Build America Bonds involve similar risks as municipal bonds, including credit and market risk. In particular,
should a Build America Bond’s issuer fail to continue to meet the applicable requirements imposed on such bonds, it is possible
that such issuer may not receive federal cash subsidy payments, impairing the issuer’s ability to make scheduled interest payments.
The Build America Bond program expired on December 31, 2010, and no further issuance is permitted unless Congress were to renew the program
at a future date. As a result, the number of available Build America Bonds is limited, which may negatively affect the value of the Build
America Bonds. In addition, there can be no assurance that Build America Bonds will be actively traded. It is difficult to predict the
extent to which a market for such bonds will continue, meaning that Build America Bonds may experience greater illiquidity than other
municipal obligations. The Build America Bonds outstanding as of December 31, 2010, will continue to be eligible for the federal interest
rate subsidy, which continues for the life of the Build America Bonds; however, no bonds issued following expiration of the Build America
Bond program will be eligible for the federal tax subsidy.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zmAji2LqE6x1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashTransactionsRiskMember_zxUmVn8lJ596" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
Transactions Risk.</b> ETFs generally are able to make in-kind redemptions and avoid being taxed on gain on the distributed portfolio
securities at the Fund level. Because the Fund may effect redemptions partly or entirely in cash, rather than in-kind, it may be required
to sell portfolio securities in order to obtain the cash needed to distribute redemption proceeds. If the Fund recognizes gain on these
sales, this generally will cause the Fund to recognize gain it might not otherwise have recognized, or to recognize such gain sooner
than would otherwise be required if it were to distribute portfolio securities in-kind. The Fund generally intends to distribute these
gains to shareholders to avoid being taxed on this gain at the Fund level and otherwise comply with the special tax rules that apply
to it. This strategy may cause shareholders to be subject to tax on gains they would not otherwise be subject to, or at an earlier date
than, if they had made an investment in a different ETF. Moreover, cash transactions may have to be carried out over several days if
the securities market is relatively illiquid and may involve considerable brokerage fees and taxes. These brokerage fees and taxes, which
will be higher than if the Fund sold and redeemed its shares principally in-kind, could be imposed on the Fund and thus decrease the
Fund’s NAV to the extent they are not offset by the creation and redemption transaction fees paid by purchasers and redeemers of
Creation Units.</span></p><p id="xdx_A91_zXAsDkWCBK5k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_z64ZScXDggo2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> The future direction of interest rates is uncertain. If interest rates rise, there is risk that
rates across the financial system also may rise. Changes in government intervention may have adverse effects on the Fund’s investments,
volatility, and illiquidity in debt markets. Interest rate increases could cause the value of the Fund to decrease. Federal Reserve policy
changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which
could cause the value of a Fund’s investments and share price to decline. If a Fund invests in derivatives tied to fixed-income
markets, the Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives. To the extent a Fund
experiences high redemptions because of these policy changes, the Fund may experience increased portfolio turnover, which will increase
the costs the Fund incurs and may lower its performance. Furthermore, if rising interest rates cause a Fund to lose enough value, the
Fund could also face increased redemptions, which could force the Fund to liquidate investments at disadvantageous times or prices, thereby
adversely affecting the Fund. In addition, decreases in fixed income dealer market-making capacity may persist in the future, potentially
leading to decreased liquidity and increased volatility in the fixed income markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConcentrationRiskMember_z2rZA6V0XaKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration
Risk.</b> The Fund may concentrate its investments in securities of a particular industry to the extent the Index does. Economic, legislative
or regulatory developments may occur that significantly affect a particular industry. This may cause the Fund’s net asset value
or market price to fluctuate more than that of a fund that does not concentrate in a particular industry.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CounterpartyRiskMember_zTKYvUF4Xd2i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Counterparty
Risk. </b>The value of the Fund’s investments may be adversely affected if an issuer’s securities experience a credit downgrade;
an issuer or guarantor of an investment held by the Fund fails to pay an obligation on a timely basis, otherwise defaults or is perceived
by other investors to be less creditworthy; or a counterparty to a derivatives or other transaction with the Fund files for bankruptcy,
becomes insolvent, or otherwise becomes unable or unwilling to honor its obligation to the Fund, and therefore delays or impairs the
Fund’s ability to recover its deposits with such counterparty.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskMember_zwn9xs0RwMA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk.</b> Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the
Fund’s total return. Credit risk may be substantial for the Fund.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_gRBRTB-PSJ_zeIgr21aONW" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk. </b>The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing
directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction
may not fulfill its contractual obligations; (ii) the risk of mispricing or improper valuation; and (iii) the risk that changes in the
value of the derivative may not correlate perfectly with the underlying reference asset. Derivatives can also create leverage risk because
they do not require payment up front equal to the economic exposure created by holding a position in the derivative. As a result, an
adverse change in the value of the underlying asset could result in the Fund sustaining a loss that is substantially greater than the
amount invested in the derivative or the anticipated value of the underlying asset, which may make the Fund’s returns more volatile
and increase the risk of loss. Derivative instruments may be less liquid than more traditional investments and the Fund may be unable
to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions,
during which the Fund may be most in need of liquidating its derivative positions. Derivatives may also be less tax efficient and subject
to changing government regulation that could impact the Fund’s ability to use certain derivatives or their cost. When a derivative
is used for hedging, the change in value of the derivative may also not correlate specifically with the risk of the underlying asset
being hedged. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events; geopolitical conflicts; changes in interest rates; and inflation
and deflation. Derivatives strategies may not always be successful, and their successful use will depend on the portfolio managers’
ability to accurately forecast movements in the market relating to the underlying asset.</span></p><p id="xdx_A9D_zwAfhdKcZUy9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p><div id="xdx_C0D_gRBRTB-PSJ_zgbkLwhJQ1s6"><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zLTqe74rrNF3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk. </i>There are risks associated with the Fund’s use of options. As the buyer of a call option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not rise above the strike price, which means the option will
expire worthless. As the buyer of a put option, the Fund risks losing the entire premium invested in the option if the underlying reference
instrument does not fall below the strike price, which means the option will expire worthless. Conversely, as a seller (writer) of a
call option or put option, the Fund will lose money if the value of the underlying reference instrument rises above (written call option)
or falls below (written put option) the respective option’s strike price. The Fund’s losses are potentially large in a written
put transaction and potentially unlimited in an unhedged written call transaction.</span></p></div><div id="xdx_C05_gRBRTB-PSJ_zC5P9asmJey5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
purchased options may decline in value due to changes in the price of the underlying reference instrument, passage of time and changes
in volatility. Generally, options may not be an effective hedge because they may have imperfect correlation to the value of the Fund’s
portfolio securities. Further, the underlying reference instrument on which the option is based may have imperfect correlation to the
value of the Fund’s portfolio securities. Option premiums are treated as short-term capital gains and, when distributed to shareholders,
are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders holding Fund shares
in a taxable account. Options are also subject to leverage and volatility risk, liquidity risk, tracking risk, and sub-strategy risk.</span></p><div id="xdx_C0F_gRBRTB-PSJ_z6u6B3DXUGXh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C04_gRBRTB-PSJ_zh5v2v6RpuS2"><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zHjmFGXmphLd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk.</i> Markets for options and options on futures contracts may not always operate on a fair and orderly basis. At times, prices
for options and options on futures contracts may not represent fair market value and prices may be subject to manipulation, which may
be extreme under some circumstances. The dysfunction and manipulation of volatility of options markets may make it difficult for the
Fund to effectively implement its investment strategy, achieve its investment objectives and could potentially lead to significant losses.</span></p></div><div id="xdx_C05_gRBRTB-PSJ_ziotMwm9qUoh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0E_gRBRTB-PSJ_z3xtL82BWP67"><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_zre214L0MsWc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk.</i> Total return swaps are subject to tracking risk because they may not be perfect substitutes for the instruments they are intended
to replace. Total return over the counter swaps are subject to counterparty default. Leverage inherent in derivatives will tend to magnify
the Fund’s losses. The Fund’s use of swaps involves risks different from, or possibly greater than, the risks associated
with investing directly in securities and other traditional investments and exposes the Fund to the risks associated with derivative
instruments described above. In a standard “swap” transaction, two parties agree to exchange the returns, differentials in
rates of return or some other amount earned or realized on the “notional amount” of predetermined investments or instruments,
which may be adjusted for an interest factor. Swaps can involve greater risks than direct investment in securities because swaps may
be leveraged and subject to counterparty risk (e.g., the risk of a counterparty’s defaulting on the obligation or bankruptcy),
credit risk (e.g., the risk that an issuer of a security may fail to pay principal and interest in a timely manner), and pricing risk
(i.e., swaps may be difficult to value). Swaps may also be considered illiquid. It may not be possible for the Fund to liquidate a swap
position at an advantageous time or price, which may result in significant losses.</span></p></div><div id="xdx_C02_gRBRTB-PSJ_zbzmVLYhh9D8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C04_gRBRTB-PSJ_z3bcxesZ6L5e"><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--WrittenCallOptionRiskMember_z80ChX8e7SJ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Written
Call Option Risk.</i> Selling covered call or stock index options will limit the Fund’s gain, if any, on its underlying securities.
Losses on stock index options may only be partially offset by gains in the Fund’s portfolio if the portfolio does not track the
call-related stock index. The Fund continues to bear the risk of a decline in the value of its underlying stocks. Option premiums are
treated as short-term capital gains and, when distributed to shareholders, are usually taxable as ordinary income, which may have a higher
tax rate than long-term capital gains for shareholders holding Fund shares in a taxable account.</span></p></div><p id="xdx_A94_zeS49Jnsikz4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--DistributionPolicyRiskMember_zMXRfKCsw6o3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Distribution
Policy Risk. </b>Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits.
However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should
not assume that the source of a distribution from the Fund is net profit. Shareholders should note that return of capital will reduce
the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendYieldRiskMember_zCZMzVKZdrB3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dividend
Yield Risk. </b>While the Fund may hold securities of companies that have historically paid a dividend, those companies may reduce or
discontinue their dividends, thus reducing the yield of the Fund. Lower priced securities in the Fund may be more susceptible to these
risks. Past dividend payments are not a guarantee of future dividend payments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zB10FqvYZb6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duration
Risk.</b> Longer-term securities may be more sensitive to interest rate changes, particularly during periods of rising interest rates.
Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may
tend to understate the drop in a security’s price. If rates drop significantly, effective duration may tend to overstate the rise
in a security’s price. For example, a five-year duration means that the fixed income security will decrease in value by 5% if interest
rates rise 1% and increase in value by 5% if interest rates fall 1%.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--EarlyCloseTradingHaltRiskMember_zQVlrU0093Xj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Early
Close/Trading Halt Risk.</b> An exchange or market may close or issue trading halts on specific securities, or the ability to buy or
sell certain securities or financial instruments may be restricted, which may prevent the Fund from buying or selling certain securities
or financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price
its investments and may incur substantial trading losses.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z6pfB37rqQ5g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> Equity securities are susceptible to general stock market fluctuations and to volatile increases and decreases in
value. Equity securities may experience sudden, unpredictable drops in value or long periods of decline in value.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFRiskMember_zuC2UPYLE3Tf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Risk. </b>Like a mutual fund, the value of an ETF can fluctuate based on the prices of the securities owned by the ETF, and ETFs are
also subject to the following additional risks: (i) the ETF’s market price may be less than its net asset value; (ii) an active
market for the ETF may not develop or be maintained; and (iii) market trading in the ETF may be halted under certain circumstances. Because
the Fund may invest its assets in ETFs that have their own fees and expenses in addition to those charged directly by the Fund, the Fund
may bear higher expenses than a fund that invests directly in individual securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-AUMHIP_zeGuvRsCvwfb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund is structured as an ETF and, as a result, is subject to special risks, including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C0B_gRBRTB-AUMHIP_zdBBTzHvcKPf"><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zZYfSqT8Y9he">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by
the Fund at NAV only in large blocks known, as “Creation Units.” You may incur
brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are typically
bought and sold in the secondary market, and investors typically pay brokerage commissions
or other charges on these transactions.</span></td></tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zGoGGaq3a468">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for
reasons that, in the view of the Exchange, make trading in Shares inadvisable, such as extraordinary
market volatility. There can be no assurance that Shares will continue to meet the listing
requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized
settlement system, the number of financial institutions that can act as authorized participants
that can post collateral on an agency basis is limited, which may limit the market for the
Fund’s shares.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-ZYGQPG_zjkUPJ9ct5p4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes
in NAV and supply and demand for Shares and will include a “bid/ask spread” charged
by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means
that Shares may trade at a discount to NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><p id="xdx_A95_zKscKQheyl13" style="margin-top: 0; margin-bottom: 0"> </p><p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares
of ETFs and in executing trades, which can lead to differences between the market value of
Fund shares and the Fund’s net asset value, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value,
particularly during times of market stress, with the result that investors may pay significantly
more or significantly less for Fund shares than the Fund’s net asset value, which is
reflected in the bid/ask price for Fund shares or in the closing price.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed
when the market for the Fund’s shares is open, there may be changes from the last quote
of the closed market and the quote from the Fund’s domestic trading day, which can
lead to differences between the market value of the Fund’s shares and the Fund’s
net asset value, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid
in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect
on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s net asset value, which could
cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeSecuritiesRiskMember_zm4LsEL1Gh8i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed
Income Securities Risk. </b>When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate
with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by
the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to
changes in interest rates than shorter-term securities. Other risk factors include credit risk (the debtor may default). Lowered credit
ratings may cause a drop in a fixed income security’s price and are associated with greater risk of default on interest and principal
payments. Certain fixed income securities may be paid off early when the issuer can repay the principal prior to a security’s maturity.
If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline
in the Fund’s income. If interest rates rise, repayments of principal on certain fixed income securities may occur at a slower
rate than expected and the expected maturity of those securities could lengthen as a result, which reduces the Fund’s ability to
reinvest at higher rates. These risks could affect the value of a particular investment by the Fund, possibly causing the Fund’s
share price and total return to be reduced and fluctuate more than other types of investments.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRiskMember_zaqXTEiFizKl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index
Risk.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlike many investment companies, the Fund
does not utilize an investing strategy that seeks returns in excess of the Index. Therefore, it would not necessarily sell a security
unless that security is removed from the Index, even if that security generally is underperforming. Additionally, the Fund rebalances
its portfolio in accordance with the Index and, therefore, any changes to the Index’s rebalance schedule will result in corresponding
changes to the Fund’s rebalance schedule.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRelatedRiskMember_zNx382dWQxF2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index-Related
Risk</b>. There is no assurance that the Index will be determined, composed or calculated accurately. While the Index Provider provides
descriptions of what the Index is designed to achieve, the Index Provider does not guarantee the quality, accuracy or completeness of
data in respect of its indices, and does not guarantee that the Index will be in line with the described index methodology. For example,
during a period where the Index contains incorrect constituents, the Fund would have market exposure to such constituents and would be
underexposed to the Index’s other constituents. As such, errors may result in a negative or positive performance impact to the
Fund and its shareholders. Shareholders should understand that losses resulting from errors may be borne by the Fund and its shareholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zs4T2QZjUl7b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk.</b> Interest rate risk is the risk that bond prices overall, including the prices of securities held by the Fund, will decline
over short or long periods of time due to rising interest rates. Bonds with longer maturities tend to be more sensitive to interest rates
than bonds with shorter maturities. The maturity and effective duration of the Fund’s investment portfolio may vary materially,
from time to time, and there is no assurance that the Fund will achieve or maintain any particular target maturity or effective duration
of its investment portfolio.</span></p><p id="xdx_A99_z5D9ZvZLxmDh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zXp77QxpjGJb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuer
Specific Risk. </b>The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s Shares, to decline.
The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondRiskMember_z6AHBIdPjHcf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Junk
Bond Risk.</b> Lower-quality bonds, known as “high-yield” or “junk” bonds, are considered to be speculative with
respect to the issuer’s ability to pay interest and principal when due and present greater risk than bonds of higher quality, including
an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds
and reduce the Fund’s ability to sell the bonds in its portfolio. The lack of a liquid market for these bonds could decrease the
value of the Fund’s portfolio and net asset value per share.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z00oireVKOuc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing
market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller
capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance
of the broader securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zFUPS1orUDD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leverage
Risk. </b>The use of leverage can amplify the effects of market volatility on the Fund’s share price and make the Fund’s
returns more volatile. The use of leverage may cause the Fund to liquidate portfolio positions when it would not be advantageous to do
so in order to satisfy its obligations. The use of leverage may also cause the Fund to have higher expenses than those of funds that
do not use such techniques.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_ztE95xefzgQ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> As the Fund may not fully replicate the Index, it is subject to the risk that its investment management strategy may not produce
the intended results.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zEmX2hzda9We" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, interest rate levels, trading and tariff events, geopolitical
conflicts, interest rate levels, and political events may adversely affect the securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--MbsAndCmoRiskMember_ztZb6MxDNHwj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MBS
and CMO Risk. </b>Mortgage-backed securities (“MBS”) and collateralized mortgage obligations
(“CMOs”) are subject to credit risk because underlying loan borrowers may default. MBS and CMO default rates tend to be sensitive
to overall economic conditions and to localized property vacancy rates and prices. Borrower default rates may be significantly higher
than estimated. Certain individual securities may be more sensitive to default rates because payments may be subordinated to other securities
of the same issuer. The Advisor’s assessment, or a rating agency’s assessment, of borrower credit quality, default rates
and loss rates may prove to be overly optimistic. Additionally, MBS and CMOs are subject to prepayment risk because the underlying loans
held by the issuers may be paid off prior to maturity at faster or slower rates than expected. The value of these securities may go down
as a result of changes in prepayment rates on the underlying mortgages or loans. During periods of declining interest rates, prepayment
rates usually increase and the Fund may have to reinvest prepayment proceeds at a lower interest rate. CMOs may be less susceptible to
this risk because payment priorities within the CMO may have the effect of a prepayment lock out period.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MlpAndMlprelatedSecuritiesRiskMember_gRBRTB-TTTGDM_z5J6j6qo9Akc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MLP
and MLP-Related Securities Risk.</b> Investments in MLPs and MLP-related securities involve risks different from those of investing in
common stock, including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security,
risks related to potential conflicts of interest between an MLP and the MLP’s general partner, cash flow risks, dilution risks
(which could occur if the MLP raises capital and then invests it in projects whose return fails to exceed the cost of capital raised)
and risks related to the general partner’s limited call right. MLPs and MLP-related securities are generally considered interest-rate
sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns. Depending on
the state of interest rates in general, the use of MLPs or MLP-related securities could enhance or harm the overall performance of the
Fund.</span></p><p id="xdx_A94_zwjOKaxZZOEk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p><div id="xdx_C0A_gRBRTB-TTTGDM_zpZ2xZP9bLca"><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MlpTaxRiskMember_znswH8KaEwB4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.45in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MLP
Tax Risk.</i> MLPs do not pay U.S. federal income tax at the partnership level, subject to
the application of certain partnership audit rules. Instead, each partner is allocated a
share of the partnership’s income, gains, losses, deductions and expenses. A change
in current tax law or in the underlying business mix of a given MLP could result in an MLP
being treated as a corporation for U.S. federal income tax purposes, which would result in
such MLP being required to pay U.S. federal income tax on its taxable income. The classification
of an MLP as a corporation for U.S. federal income tax purposes would have the effect of
reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs
owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could
result in a reduction of the value of your investment in the Fund and lower income, as compared
to an MLP that is not taxed as a corporation.</span></td></tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_z9bHIwTut90l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk.</b> Like all quantitative analysis, the investment models utilized by the Index carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons, including errors,
omissions, imperfections or malfunctions. Because models are usually constructed based on data supplied by third parties, the success
of the Index’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and the quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NoncorrelationRiskMember_zNaQEMr4FDH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Correlation
Risk.</b> The Fund’s return may not match the return of the Index for a number of reasons, including the following:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund incurs operating expenses not applicable to the Index, and incurs costs in buying and
selling securities, especially when rebalancing the Fund’s securities holdings to reflect
changes in the composition of the Index.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
performance of the Fund and the Index may vary due to asset valuation differences: the Fund
may fair value certain of the securities it holds and, to the extent it calculates its NAV
based on fair value prices, the Fund’s ability to track the Index may be adversely
affected.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
may be differences between the Fund’s portfolio and the Index as a result of legal
restrictions, cost or liquidity constraints. For example, the Index is not subject to the
tax diversification requirements to which the Fund must adhere; so the Fund may be required
to deviate its investments from the securities and relative weightings of the Index. Similarly,
the Fund may not invest in certain securities included in the Index due to liquidity constraints.
Liquidity constraints also may delay the Fund’s purchase or sale of securities included
in the Index.</span></td></tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
investment activities of one or more of the Advisor’s affiliates for their proprietary
accounts and for client accounts may also adversely impact the Fund’s ability to track
the Index. For example, in regulated industries, and in corporate and regulatory ownership
definitions, there may be limits on the aggregate amount of investment by affiliated investors
that may not be exceeded, or that may not be exceeded without the grant of a license or other
regulatory or corporate consent or, if exceeded, may cause the Advisor, the Fund or other
client accounts to suffer disadvantages or business restrictions. As a result, the Fund may
be restricted in its ability to acquire particular securities due to positions held by the
Advisor’s affiliates.</span></td></tr></table><p id="xdx_A92_zXK63dY1PP7j" style="margin-top: 0; margin-bottom: 0"> </p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--PassiveInvestmentRiskMember_zrqk3AilSv8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passive
Investment Risk.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund is not actively managed
and may be affected by a general decline in market segments related to the Index. The Fund invests in securities included in, or representative
of securities included in, the Index, regardless of their investment merits. The Fund does not take defensive positions under any market
conditions, including conditions that are adverse to the performance of the Fund, unless such defensive positions are also taken by the
Index.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zts21s5C8F31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Preferred
Stock Risk.</b> Typically, a rise in interest rates causes a decline in the value of preferred stocks. Preferred stocks are also subject
to credit and default risk, which is the possibility that an issuer of preferred stock will fail to make its dividend payment. Issuers
of preferred stocks may redeem their securities prior to maturity at a price below their current market value, which would negatively
impact the investment return of such preferred stocks.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--PrepaymentRiskMember_zW2cPjoWDJlk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Prepayment
Risk.</b> The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal
prior to a security’s maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower
interest rates, resulting in a decline in the Fund’s income.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zhGbn0f1VFC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate Risk</b>. The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zM4QxVKP3dy1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>REIT
Risk. </b>The Fund’s investments in REITs are subject to the same risks as direct investments in real estate, including sensitivity
to general economic downturns and the volatility of local real estate markets. REITs may have limited financial resources and their securities
may trade infrequently and in limited volume, and thus may be more volatile than other securities. The liquidity of REITs may change
dramatically over time.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SamplingRiskMember_zH9DGbilGmYh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sampling
Risk.</b> The sampling approach, if used, could result in the Fund holding a smaller number of securities than are in the Index. As a
result, an adverse development with an issuer of securities held by the Fund could result in a greater decline in NAV or market price
than would be the case if the Fund held all of the securities in the Index. To the extent the assets in the Fund are smaller, these risks
will be greater.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--TrackingErrorRiskMember_z8RQqvDCU7p8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tracking
Error Risk.</b> Tracking error is the divergence of the Fund’s performance from that of the Index. Tracking error may occur because
of imperfect correlation between the Fund’s holdings of portfolio securities and those in the Index, pricing differences, the Fund’s
holding of cash, differences in timing of the accrual of dividends, changes to the Index, transaction and financing costs related to
the use of derivatives or the need to meet various regulatory requirements. This risk may be heightened during times of increased market
volatility or other unusual market conditions. Tracking error also may result because the Fund incurs fees and expenses, while the Index
does not.</span></p><p id="xdx_A98_zL4um9bFqrxe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_gRBRTB-HH_z7ehNIdWPCK5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk</b>. Other investment companies, including ETFs (“Underlying Funds”), in which the Fund invests are subject to
investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will
be higher than the cost of investing directly in the Underlying Funds, and may be higher than other funds that invest directly in stocks
and bonds. Each of the Underlying Funds is subject to its own specific risks and is also subject to the following additional risks: (i)
the ETF’s market price may be less than its net asset value; (ii) an active market for the ETF may not develop or be maintained;
and (iii) market trading in the ETF may be illiquid or even halted under certain circumstances. Certain additional risks of investing
in ETFs are described below:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C07_gRBRTB-HH_zVervbRq6EL3"><div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NetAssetValueAndMarketPriceRiskMember_zzTihnbcwYMl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Net
Asset Value and Market Price Risk:</i> The market value of ETF shares may differ from their
net asset value. This difference in price may be due to the fact that the supply and demand
in the market for fund shares at any point in time is not always identical to the supply
and demand in the market for the underlying basket of securities. Accordingly, there may
be times when shares trade at a premium or discount to net asset value.</span></td></tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zpHQ9ON8KNja" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises. </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--UtilitiesSectorRiskMember_z13JC57mOlz8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Utilities
Sector Risk. </b>Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations,
including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in
periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated
with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition;
and potential losses resulting from a developing deregulatory environment.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zVxa5Hsj5JU8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with Foreside Fund Services, LLC, the Fund’s distributor
(the “Distributor”). To the extent these Authorized Participants exit the business or are unable to process creation and/or
redemption orders and no other Authorized Participant is able to step forward to process creation and/or redemption orders, in either
of these cases, shares of the Fund may trade like closed-end fund shares at a discount to NAV and possibly face delisting by the Nasdaq
Stock Market (the “Exchange”). These risks could cause intra-day bid-ask spreads for the Fund’s shares to widen.</span></p><div id="xdx_C02_gRBRTB-TFO_ze1Rxacll3Z3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--BuildAmericaBondsRiskMember_zhSVlULCC8t7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Build
America Bonds Risk. </b>Build America Bonds involve similar risks as municipal bonds, including credit and market risk. In particular,
should a Build America Bond’s issuer fail to continue to meet the applicable requirements imposed on such bonds, it is possible
that such issuer may not receive federal cash subsidy payments, impairing the issuer’s ability to make scheduled interest payments.
The Build America Bond program expired on December 31, 2010, and no further issuance is permitted unless Congress were to renew the program
at a future date. As a result, the number of available Build America Bonds is limited, which may negatively affect the value of the Build
America Bonds. In addition, there can be no assurance that Build America Bonds will be actively traded. It is difficult to predict the
extent to which a market for such bonds will continue, meaning that Build America Bonds may experience greater illiquidity than other
municipal obligations. The Build America Bonds outstanding as of December 31, 2010, will continue to be eligible for the federal interest
rate subsidy, which continues for the life of the Build America Bonds; however, no bonds issued following expiration of the Build America
Bond program will be eligible for the federal tax subsidy.</span></p><div id="xdx_C07_gRBRTB-TFO_zw5IrKvG0oOb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zmAji2LqE6x1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
and Cash Equivalents Risk.</b> At times, the Fund may have significant investments in cash or cash equivalents. When a substantial portion
of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not
keep pace with inflation, thus reducing purchasing power over time. Additionally, in rising markets, holding cash or cash equivalents
may adversely affect the Fund’s performance and the Fund may not achieve its investment objective.</span></p><div id="xdx_C0F_gRBRTB-TFO_zysCIAfXI50i"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashTransactionsRiskMember_zxUmVn8lJ596" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Cash
Transactions Risk.</b> ETFs generally are able to make in-kind redemptions and avoid being taxed on gain on the distributed portfolio
securities at the Fund level. Because the Fund may effect redemptions partly or entirely in cash, rather than in-kind, it may be required
to sell portfolio securities in order to obtain the cash needed to distribute redemption proceeds. If the Fund recognizes gain on these
sales, this generally will cause the Fund to recognize gain it might not otherwise have recognized, or to recognize such gain sooner
than would otherwise be required if it were to distribute portfolio securities in-kind. The Fund generally intends to distribute these
gains to shareholders to avoid being taxed on this gain at the Fund level and otherwise comply with the special tax rules that apply
to it. This strategy may cause shareholders to be subject to tax on gains they would not otherwise be subject to, or at an earlier date
than, if they had made an investment in a different ETF. Moreover, cash transactions may have to be carried out over several days if
the securities market is relatively illiquid and may involve considerable brokerage fees and taxes. These brokerage fees and taxes, which
will be higher than if the Fund sold and redeemed its shares principally in-kind, could be imposed on the Fund and thus decrease the
Fund’s NAV to the extent they are not offset by the creation and redemption transaction fees paid by purchasers and redeemers of
Creation Units.</span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ChangingFixedIncomeMarketConditionsRiskMember_z64ZScXDggo2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Changing
Fixed Income Market Conditions Risk.</b> The future direction of interest rates is uncertain. If interest rates rise, there is risk that
rates across the financial system also may rise. Changes in government intervention may have adverse effects on the Fund’s investments,
volatility, and illiquidity in debt markets. Interest rate increases could cause the value of the Fund to decrease. Federal Reserve policy
changes may expose fixed-income and related markets to heightened volatility and may reduce liquidity for certain Fund investments, which
could cause the value of a Fund’s investments and share price to decline. If a Fund invests in derivatives tied to fixed-income
markets, the Fund may be more substantially exposed to these risks than a fund that does not invest in derivatives. To the extent a Fund
experiences high redemptions because of these policy changes, the Fund may experience increased portfolio turnover, which will increase
the costs the Fund incurs and may lower its performance. Furthermore, if rising interest rates cause a Fund to lose enough value, the
Fund could also face increased redemptions, which could force the Fund to liquidate investments at disadvantageous times or prices, thereby
adversely affecting the Fund. In addition, decreases in fixed income dealer market-making capacity may persist in the future, potentially
leading to decreased liquidity and increased volatility in the fixed income markets.</span></p><div id="xdx_C08_gRBRTB-TFO_zlMipLxuPG31"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConcentrationRiskMember_z2rZA6V0XaKd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Concentration
Risk.</b> The Fund may concentrate its investments in securities of a particular industry to the extent the Index does. Economic, legislative
or regulatory developments may occur that significantly affect a particular industry. This may cause the Fund’s net asset value
or market price to fluctuate more than that of a fund that does not concentrate in a particular industry.</span></p><div id="xdx_C0A_gRBRTB-TFO_zsEwg6Oiv4de"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--CounterpartyRiskMember_zTKYvUF4Xd2i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Counterparty
Risk. </b>The value of the Fund’s investments may be adversely affected if an issuer’s securities experience a credit downgrade;
an issuer or guarantor of an investment held by the Fund fails to pay an obligation on a timely basis, otherwise defaults or is perceived
by other investors to be less creditworthy; or a counterparty to a derivatives or other transaction with the Fund files for bankruptcy,
becomes insolvent, or otherwise becomes unable or unwilling to honor its obligation to the Fund, and therefore delays or impairs the
Fund’s ability to recover its deposits with such counterparty.</span></p><div id="xdx_C0C_gRBRTB-TFO_zOPvQjbqlNA9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CreditRiskMember_zwn9xs0RwMA2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Credit
Risk.</b> Credit risk is the risk that an issuer of a security will fail to pay principal and interest in a timely manner, reducing the
Fund’s total return. Credit risk may be substantial for the Fund.</span></p><div id="xdx_C0E_gRBRTB-TFO_zk3lE8sFuE1b"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_gRBRTB-PSJ_zeIgr21aONW" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Derivatives
Risk. </b>The use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing
directly in securities and other traditional investments. These risks include (i) the risk that the counterparty to a derivative transaction
may not fulfill its contractual obligations; (ii) the risk of mispricing or improper valuation; and (iii) the risk that changes in the
value of the derivative may not correlate perfectly with the underlying reference asset. Derivatives can also create leverage risk because
they do not require payment up front equal to the economic exposure created by holding a position in the derivative. As a result, an
adverse change in the value of the underlying asset could result in the Fund sustaining a loss that is substantially greater than the
amount invested in the derivative or the anticipated value of the underlying asset, which may make the Fund’s returns more volatile
and increase the risk of loss. Derivative instruments may be less liquid than more traditional investments and the Fund may be unable
to sell or close out its derivative positions at a desirable time or price. This risk may be more acute under adverse market conditions,
during which the Fund may be most in need of liquidating its derivative positions. Derivatives may also be less tax efficient and subject
to changing government regulation that could impact the Fund’s ability to use certain derivatives or their cost. When a derivative
is used for hedging, the change in value of the derivative may also not correlate specifically with the risk of the underlying asset
being hedged. Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events; geopolitical conflicts; changes in interest rates; and inflation
and deflation. Derivatives strategies may not always be successful, and their successful use will depend on the portfolio managers’
ability to accurately forecast movements in the market relating to the underlying asset.</span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zLTqe74rrNF3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk. </i>There are risks associated with the Fund’s use of options. As the buyer of a call option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not rise above the strike price, which means the option will
expire worthless. As the buyer of a put option, the Fund risks losing the entire premium invested in the option if the underlying reference
instrument does not fall below the strike price, which means the option will expire worthless. Conversely, as a seller (writer) of a
call option or put option, the Fund will lose money if the value of the underlying reference instrument rises above (written call option)
or falls below (written put option) the respective option’s strike price. The Fund’s losses are potentially large in a written
put transaction and potentially unlimited in an unhedged written call transaction.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C0F_gRBRTB-TFO_z6WA2mUhxA7a"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
purchased options may decline in value due to changes in the price of the underlying reference instrument, passage of time and changes
in volatility. Generally, options may not be an effective hedge because they may have imperfect correlation to the value of the Fund’s
portfolio securities. Further, the underlying reference instrument on which the option is based may have imperfect correlation to the
value of the Fund’s portfolio securities. Option premiums are treated as short-term capital gains and, when distributed to shareholders,
are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders holding Fund shares
in a taxable account. Options are also subject to leverage and volatility risk, liquidity risk, tracking risk, and sub-strategy risk.</span></p></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zHjmFGXmphLd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk.</i> Markets for options and options on futures contracts may not always operate on a fair and orderly basis. At times, prices
for options and options on futures contracts may not represent fair market value and prices may be subject to manipulation, which may
be extreme under some circumstances. The dysfunction and manipulation of volatility of options markets may make it difficult for the
Fund to effectively implement its investment strategy, achieve its investment objectives and could potentially lead to significant losses.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_zre214L0MsWc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk.</i> Total return swaps are subject to tracking risk because they may not be perfect substitutes for the instruments they are intended
to replace. Total return over the counter swaps are subject to counterparty default. Leverage inherent in derivatives will tend to magnify
the Fund’s losses. The Fund’s use of swaps involves risks different from, or possibly greater than, the risks associated
with investing directly in securities and other traditional investments and exposes the Fund to the risks associated with derivative
instruments described above. In a standard “swap” transaction, two parties agree to exchange the returns, differentials in
rates of return or some other amount earned or realized on the “notional amount” of predetermined investments or instruments,
which may be adjusted for an interest factor. Swaps can involve greater risks than direct investment in securities because swaps may
be leveraged and subject to counterparty risk (e.g., the risk of a counterparty’s defaulting on the obligation or bankruptcy),
credit risk (e.g., the risk that an issuer of a security may fail to pay principal and interest in a timely manner), and pricing risk
(i.e., swaps may be difficult to value). Swaps may also be considered illiquid. It may not be possible for the Fund to liquidate a swap
position at an advantageous time or price, which may result in significant losses.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--WrittenCallOptionRiskMember_z80ChX8e7SJ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Written
Call Option Risk.</i> Selling covered call or stock index options will limit the Fund’s gain, if any, on its underlying securities.
Losses on stock index options may only be partially offset by gains in the Fund’s portfolio if the portfolio does not track the
call-related stock index. The Fund continues to bear the risk of a decline in the value of its underlying stocks. Option premiums are
treated as short-term capital gains and, when distributed to shareholders, are usually taxable as ordinary income, which may have a higher
tax rate than long-term capital gains for shareholders holding Fund shares in a taxable account.</span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zLTqe74rrNF3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk. </i>There are risks associated with the Fund’s use of options. As the buyer of a call option, the Fund risks losing the entire
premium invested in the option if the underlying reference instrument does not rise above the strike price, which means the option will
expire worthless. As the buyer of a put option, the Fund risks losing the entire premium invested in the option if the underlying reference
instrument does not fall below the strike price, which means the option will expire worthless. Conversely, as a seller (writer) of a
call option or put option, the Fund will lose money if the value of the underlying reference instrument rises above (written call option)
or falls below (written put option) the respective option’s strike price. The Fund’s losses are potentially large in a written
put transaction and potentially unlimited in an unhedged written call transaction.</span></p><div id="xdx_C04_gRBRTB-TFO_zYEvkIBPj1f8"><div id="xdx_C05_gRBRTB-PSJ_zC5P9asmJey5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_C03_gRBRTB-PSJ_zfeoVyNJqOie"><div id="xdx_C0F_gRBRTB-TFO_z6WA2mUhxA7a"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
purchased options may decline in value due to changes in the price of the underlying reference instrument, passage of time and changes
in volatility. Generally, options may not be an effective hedge because they may have imperfect correlation to the value of the Fund’s
portfolio securities. Further, the underlying reference instrument on which the option is based may have imperfect correlation to the
value of the Fund’s portfolio securities. Option premiums are treated as short-term capital gains and, when distributed to shareholders,
are usually taxable as ordinary income, which may have a higher tax rate than long-term capital gains for shareholders holding Fund shares
in a taxable account. Options are also subject to leverage and volatility risk, liquidity risk, tracking risk, and sub-strategy risk.</span></p></div></div>
<div id="xdx_C05_gRBRTB-TFO_zmZKbbeY4GPb"><div id="xdx_C0F_gRBRTB-PSJ_z6u6B3DXUGXh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMarketRiskMember_zHjmFGXmphLd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Market Risk.</i> Markets for options and options on futures contracts may not always operate on a fair and orderly basis. At times, prices
for options and options on futures contracts may not represent fair market value and prices may be subject to manipulation, which may
be extreme under some circumstances. The dysfunction and manipulation of volatility of options markets may make it difficult for the
Fund to effectively implement its investment strategy, achieve its investment objectives and could potentially lead to significant losses.</span></p><div id="xdx_C08_gRBRTB-TFO_zCaJsjPXXqlb"><div id="xdx_C05_gRBRTB-PSJ_ziotMwm9qUoh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_zre214L0MsWc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk.</i> Total return swaps are subject to tracking risk because they may not be perfect substitutes for the instruments they are intended
to replace. Total return over the counter swaps are subject to counterparty default. Leverage inherent in derivatives will tend to magnify
the Fund’s losses. The Fund’s use of swaps involves risks different from, or possibly greater than, the risks associated
with investing directly in securities and other traditional investments and exposes the Fund to the risks associated with derivative
instruments described above. In a standard “swap” transaction, two parties agree to exchange the returns, differentials in
rates of return or some other amount earned or realized on the “notional amount” of predetermined investments or instruments,
which may be adjusted for an interest factor. Swaps can involve greater risks than direct investment in securities because swaps may
be leveraged and subject to counterparty risk (e.g., the risk of a counterparty’s defaulting on the obligation or bankruptcy),
credit risk (e.g., the risk that an issuer of a security may fail to pay principal and interest in a timely manner), and pricing risk
(i.e., swaps may be difficult to value). Swaps may also be considered illiquid. It may not be possible for the Fund to liquidate a swap
position at an advantageous time or price, which may result in significant losses.</span></p><div id="xdx_C08_gRBRTB-TFO_zLfxl5wjwZg"><div id="xdx_C02_gRBRTB-PSJ_zbzmVLYhh9D8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--WrittenCallOptionRiskMember_z80ChX8e7SJ8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Written
Call Option Risk.</i> Selling covered call or stock index options will limit the Fund’s gain, if any, on its underlying securities.
Losses on stock index options may only be partially offset by gains in the Fund’s portfolio if the portfolio does not track the
call-related stock index. The Fund continues to bear the risk of a decline in the value of its underlying stocks. Option premiums are
treated as short-term capital gains and, when distributed to shareholders, are usually taxable as ordinary income, which may have a higher
tax rate than long-term capital gains for shareholders holding Fund shares in a taxable account.</span></p>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--DistributionPolicyRiskMember_zMXRfKCsw6o3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Distribution
Policy Risk. </b>Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits.
However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should
not assume that the source of a distribution from the Fund is net profit. Shareholders should note that return of capital will reduce
the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.</span></p><div id="xdx_C06_gRBRTB-TFO_zl66qZ3tAGZi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendYieldRiskMember_zCZMzVKZdrB3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Dividend
Yield Risk. </b>While the Fund may hold securities of companies that have historically paid a dividend, those companies may reduce or
discontinue their dividends, thus reducing the yield of the Fund. Lower priced securities in the Fund may be more susceptible to these
risks. Past dividend payments are not a guarantee of future dividend payments.</span></p><div id="xdx_C02_gRBRTB-TFO_zn1g5mPSBMw7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--DurationRiskMember_zB10FqvYZb6c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Duration
Risk.</b> Longer-term securities may be more sensitive to interest rate changes, particularly during periods of rising interest rates.
Effective duration estimates price changes for relatively small changes in rates. If rates rise significantly, effective duration may
tend to understate the drop in a security’s price. If rates drop significantly, effective duration may tend to overstate the rise
in a security’s price. For example, a five-year duration means that the fixed income security will decrease in value by 5% if interest
rates rise 1% and increase in value by 5% if interest rates fall 1%.</span></p><div id="xdx_C05_gRBRTB-TFO_zQmmITw86057"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--EarlyCloseTradingHaltRiskMember_zQVlrU0093Xj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Early
Close/Trading Halt Risk.</b> An exchange or market may close or issue trading halts on specific securities, or the ability to buy or
sell certain securities or financial instruments may be restricted, which may prevent the Fund from buying or selling certain securities
or financial instruments. In these circumstances, the Fund may be unable to rebalance its portfolio, may be unable to accurately price
its investments and may incur substantial trading losses.</span></p><div id="xdx_C09_gRBRTB-TFO_z132ZRC12ajf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_z6pfB37rqQ5g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> Equity securities are susceptible to general stock market fluctuations and to volatile increases and decreases in
value. Equity securities may experience sudden, unpredictable drops in value or long periods of decline in value.</span></p><div id="xdx_C07_gRBRTB-TFO_zhGh3BBRABgj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFRiskMember_zuC2UPYLE3Tf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Risk. </b>Like a mutual fund, the value of an ETF can fluctuate based on the prices of the securities owned by the ETF, and ETFs are
also subject to the following additional risks: (i) the ETF’s market price may be less than its net asset value; (ii) an active
market for the ETF may not develop or be maintained; and (iii) market trading in the ETF may be halted under certain circumstances. Because
the Fund may invest its assets in ETFs that have their own fees and expenses in addition to those charged directly by the Fund, the Fund
may bear higher expenses than a fund that invests directly in individual securities.</span></p><div id="xdx_C01_gRBRTB-TFO_zC4RF5rKQnN7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-AUMHIP_zeGuvRsCvwfb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund is structured as an ETF and, as a result, is subject to special risks, including:</span></p><div id="xdx_C01_gRBRTB-TFO_zpBoSw5yTpLg"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zZYfSqT8Y9he">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by
the Fund at NAV only in large blocks known, as “Creation Units.” You may incur
brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are typically
bought and sold in the secondary market, and investors typically pay brokerage commissions
or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C00_gRBRTB-TFO_zRN9GPIyfg0h"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C03_gRBRTB-TFO_zkU4xHrw8CAb"><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zGoGGaq3a468">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for
reasons that, in the view of the Exchange, make trading in Shares inadvisable, such as extraordinary
market volatility. There can be no assurance that Shares will continue to meet the listing
requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized
settlement system, the number of financial institutions that can act as authorized participants
that can post collateral on an agency basis is limited, which may limit the market for the
Fund’s shares.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-TFO_z2ZMkJPS4Rzd"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0B_gRBRTB-TFO_zXSjBgY4nNG1"><div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-ZYGQPG_zjkUPJ9ct5p4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes
in NAV and supply and demand for Shares and will include a “bid/ask spread” charged
by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means
that Shares may trade at a discount to NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div></div><div id="xdx_C02_gRBRTB-TFO_zTLoxWArAdv2"><p id="xdx_A95_zKscKQheyl13" style="margin-top: 0; margin-bottom: 0"> </p></div><div id="xdx_C06_gRBRTB-TFO_zqfuiJWEwUmd"><p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares
of ETFs and in executing trades, which can lead to differences between the market value of
Fund shares and the Fund’s net asset value, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-TFO_zR7OMufGYKd5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value,
particularly during times of market stress, with the result that investors may pay significantly
more or significantly less for Fund shares than the Fund’s net asset value, which is
reflected in the bid/ask price for Fund shares or in the closing price.</span></td></tr></table></div><div id="xdx_C0F_gRBRTB-TFO_zjoeSTo0j1jk"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed
when the market for the Fund’s shares is open, there may be changes from the last quote
of the closed market and the quote from the Fund’s domestic trading day, which can
lead to differences between the market value of the Fund’s shares and the Fund’s
net asset value, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div><div id="xdx_C01_gRBRTB-ZYGQPG_zkFZvqn8Tbce"><div id="xdx_C03_gRBRTB-TFO_zw3Thozyamfj"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid
in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect
on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s net asset value, which could
cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zZYfSqT8Y9he">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by
the Fund at NAV only in large blocks known, as “Creation Units.” You may incur
brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are typically
bought and sold in the secondary market, and investors typically pay brokerage commissions
or other charges on these transactions.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-AUMHIP_znQhSREUVfO"><div id="xdx_C00_gRBRTB-TFO_zRN9GPIyfg0h"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zGoGGaq3a468">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for
reasons that, in the view of the Exchange, make trading in Shares inadvisable, such as extraordinary
market volatility. There can be no assurance that Shares will continue to meet the listing
requirements of the Exchange. An active trading market for the Fund’s shares may not
be developed or maintained. If the Fund’s shares are traded outside a collateralized
settlement system, the number of financial institutions that can act as authorized participants
that can post collateral on an agency basis is limited, which may limit the market for the
Fund’s shares.</span></td></tr></table></div><div id="xdx_C06_gRBRTB-AUMHIP_zONloKzXct54"><div id="xdx_C06_gRBRTB-TFO_z2ZMkJPS4Rzd"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_gRBRTB-ZYGQPG_zjkUPJ9ct5p4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes
in NAV and supply and demand for Shares and will include a “bid/ask spread” charged
by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means
that Shares may trade at a discount to NAV and intra-day bid/ask spreads may widen.</span></td></tr></table></div><div id="xdx_C0A_gRBRTB-AUMHIP_zeSNdADpkSq8"><div id="xdx_C06_gRBRTB-TFO_zqfuiJWEwUmd"><p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares
of ETFs and in executing trades, which can lead to differences between the market value of
Fund shares and the Fund’s net asset value, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C0D_gRBRTB-AUMHIP_zDOh0b29xYAj"><div id="xdx_C06_gRBRTB-TFO_zR7OMufGYKd5"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s net asset value,
particularly during times of market stress, with the result that investors may pay significantly
more or significantly less for Fund shares than the Fund’s net asset value, which is
reflected in the bid/ask price for Fund shares or in the closing price.</span></td></tr></table></div></div><div id="xdx_C03_gRBRTB-AUMHIP_zNxrEEmGtcMi"><div id="xdx_C0F_gRBRTB-TFO_zjoeSTo0j1jk"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed
when the market for the Fund’s shares is open, there may be changes from the last quote
of the closed market and the quote from the Fund’s domestic trading day, which can
lead to differences between the market value of the Fund’s shares and the Fund’s
net asset value, which could cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div></div><div id="xdx_C03_gRBRTB-TFO_zw3Thozyamfj"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid
in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect
on the liquidity of the Fund’s shares may, in turn, lead to differences between the
market value of the Fund’s shares and the Fund’s net asset value, which could
cause the intra-day bid/ask spread of the Fund to widen.</span></td></tr></table></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeSecuritiesRiskMember_zm4LsEL1Gh8i" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Fixed
Income Securities Risk. </b>When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate
with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by
the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to
changes in interest rates than shorter-term securities. Other risk factors include credit risk (the debtor may default). Lowered credit
ratings may cause a drop in a fixed income security’s price and are associated with greater risk of default on interest and principal
payments. Certain fixed income securities may be paid off early when the issuer can repay the principal prior to a security’s maturity.
If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower interest rates, resulting in a decline
in the Fund’s income. If interest rates rise, repayments of principal on certain fixed income securities may occur at a slower
rate than expected and the expected maturity of those securities could lengthen as a result, which reduces the Fund’s ability to
reinvest at higher rates. These risks could affect the value of a particular investment by the Fund, possibly causing the Fund’s
share price and total return to be reduced and fluctuate more than other types of investments.</span></p><div id="xdx_C09_gRBRTB-TFO_zQSTXJszvkZ8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRiskMember_zaqXTEiFizKl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index
Risk.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unlike many investment companies, the Fund
does not utilize an investing strategy that seeks returns in excess of the Index. Therefore, it would not necessarily sell a security
unless that security is removed from the Index, even if that security generally is underperforming. Additionally, the Fund rebalances
its portfolio in accordance with the Index and, therefore, any changes to the Index’s rebalance schedule will result in corresponding
changes to the Fund’s rebalance schedule.</span></p><div id="xdx_C03_gRBRTB-TFO_zsX2310NR78b"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--IndexRelatedRiskMember_zNx382dWQxF2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Index-Related
Risk</b>. There is no assurance that the Index will be determined, composed or calculated accurately. While the Index Provider provides
descriptions of what the Index is designed to achieve, the Index Provider does not guarantee the quality, accuracy or completeness of
data in respect of its indices, and does not guarantee that the Index will be in line with the described index methodology. For example,
during a period where the Index contains incorrect constituents, the Fund would have market exposure to such constituents and would be
underexposed to the Index’s other constituents. As such, errors may result in a negative or positive performance impact to the
Fund and its shareholders. Shareholders should understand that losses resulting from errors may be borne by the Fund and its shareholders.</span></p><div id="xdx_C09_gRBRTB-TFO_zzQeVUvX9UV8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRateRiskMember_zs4T2QZjUl7b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Interest
Rate Risk.</b> Interest rate risk is the risk that bond prices overall, including the prices of securities held by the Fund, will decline
over short or long periods of time due to rising interest rates. Bonds with longer maturities tend to be more sensitive to interest rates
than bonds with shorter maturities. The maturity and effective duration of the Fund’s investment portfolio may vary materially,
from time to time, and there is no assurance that the Fund will achieve or maintain any particular target maturity or effective duration
of its investment portfolio.</span></p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerSpecificRiskMember_zXp77QxpjGJb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuer
Specific Risk. </b>The performance of the Fund depends on the performance of the issuers of the individual securities in which the Fund
invests. Poor performance by any issuer may cause the value of its securities, and the value of the Fund’s Shares, to decline.
The value of a specific security can be more volatile than the market as a whole and can perform differently from the value of the market
as a whole.</span></p><div id="xdx_C07_gRBRTB-TFO_z2iUWUsSALX"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--JunkBondRiskMember_z6AHBIdPjHcf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Junk
Bond Risk.</b> Lower-quality bonds, known as “high-yield” or “junk” bonds, are considered to be speculative with
respect to the issuer’s ability to pay interest and principal when due and present greater risk than bonds of higher quality, including
an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds
and reduce the Fund’s ability to sell the bonds in its portfolio. The lack of a liquid market for these bonds could decrease the
value of the Fund’s portfolio and net asset value per share.</span></p><div id="xdx_C03_gRBRTB-TFO_zbzIGZqled2a"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_z00oireVKOuc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing
market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller
capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance
of the broader securities markets.</span></p><div id="xdx_C01_gRBRTB-TFO_zStNujc9Orei"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"> </p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LeverageRiskMember_zFUPS1orUDD2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Leverage
Risk. </b>The use of leverage can amplify the effects of market volatility on the Fund’s share price and make the Fund’s
returns more volatile. The use of leverage may cause the Fund to liquidate portfolio positions when it would not be advantageous to do
so in order to satisfy its obligations. The use of leverage may also cause the Fund to have higher expenses than those of funds that
do not use such techniques.</span></p><div id="xdx_C0E_gRBRTB-TFO_zk7n6Y5Ri4ia"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_ztE95xefzgQ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> As the Fund may not fully replicate the Index, it is subject to the risk that its investment management strategy may not produce
the intended results.</span></p><div id="xdx_C09_gRBRTB-TFO_zCgd1uBFAB6f"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zEmX2hzda9We" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s NAV or market price
per share may decline suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors
such as domestic and foreign economic growth rates and market conditions, interest rate levels, trading and tariff events, geopolitical
conflicts, interest rate levels, and political events may adversely affect the securities markets.</span></p><div id="xdx_C06_gRBRTB-TFO_zjWf6PT5Rocf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--MbsAndCmoRiskMember_ztZb6MxDNHwj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MBS
and CMO Risk. </b>Mortgage-backed securities (“MBS”) and collateralized mortgage obligations
(“CMOs”) are subject to credit risk because underlying loan borrowers may default. MBS and CMO default rates tend to be sensitive
to overall economic conditions and to localized property vacancy rates and prices. Borrower default rates may be significantly higher
than estimated. Certain individual securities may be more sensitive to default rates because payments may be subordinated to other securities
of the same issuer. The Advisor’s assessment, or a rating agency’s assessment, of borrower credit quality, default rates
and loss rates may prove to be overly optimistic. Additionally, MBS and CMOs are subject to prepayment risk because the underlying loans
held by the issuers may be paid off prior to maturity at faster or slower rates than expected. The value of these securities may go down
as a result of changes in prepayment rates on the underlying mortgages or loans. During periods of declining interest rates, prepayment
rates usually increase and the Fund may have to reinvest prepayment proceeds at a lower interest rate. CMOs may be less susceptible to
this risk because payment priorities within the CMO may have the effect of a prepayment lock out period.</span></p><div id="xdx_C09_gRBRTB-TFO_z0PLKo0Bh8I8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MlpAndMlprelatedSecuritiesRiskMember_gRBRTB-TTTGDM_z5J6j6qo9Akc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>MLP
and MLP-Related Securities Risk.</b> Investments in MLPs and MLP-related securities involve risks different from those of investing in
common stock, including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security,
risks related to potential conflicts of interest between an MLP and the MLP’s general partner, cash flow risks, dilution risks
(which could occur if the MLP raises capital and then invests it in projects whose return fails to exceed the cost of capital raised)
and risks related to the general partner’s limited call right. MLPs and MLP-related securities are generally considered interest-rate
sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns. Depending on
the state of interest rates in general, the use of MLPs or MLP-related securities could enhance or harm the overall performance of the
Fund.</span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MlpTaxRiskMember_znswH8KaEwB4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.45in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MLP
Tax Risk.</i> MLPs do not pay U.S. federal income tax at the partnership level, subject to
the application of certain partnership audit rules. Instead, each partner is allocated a
share of the partnership’s income, gains, losses, deductions and expenses. A change
in current tax law or in the underlying business mix of a given MLP could result in an MLP
being treated as a corporation for U.S. federal income tax purposes, which would result in
such MLP being required to pay U.S. federal income tax on its taxable income. The classification
of an MLP as a corporation for U.S. federal income tax purposes would have the effect of
reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs
owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could
result in a reduction of the value of your investment in the Fund and lower income, as compared
to an MLP that is not taxed as a corporation.</span></td></tr></table></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--MlpTaxRiskMember_znswH8KaEwB4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.45in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>MLP
Tax Risk.</i> MLPs do not pay U.S. federal income tax at the partnership level, subject to
the application of certain partnership audit rules. Instead, each partner is allocated a
share of the partnership’s income, gains, losses, deductions and expenses. A change
in current tax law or in the underlying business mix of a given MLP could result in an MLP
being treated as a corporation for U.S. federal income tax purposes, which would result in
such MLP being required to pay U.S. federal income tax on its taxable income. The classification
of an MLP as a corporation for U.S. federal income tax purposes would have the effect of
reducing the amount of cash available for distribution by the MLP. Thus, if any of the MLPs
owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could
result in a reduction of the value of your investment in the Fund and lower income, as compared
to an MLP that is not taxed as a corporation.</span></td></tr></table></div><div id="xdx_C0E_gRBRTB-TFO_z0WgPWZXEBCk"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelAndDataRiskMember_z9bHIwTut90l" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Model
and Data Risk.</b> Like all quantitative analysis, the investment models utilized by the Index carry the risk that the ranking system,
valuation results and predictions might be based on one or more incorrect assumptions, insufficient historical data, inadequate design,
or may not be suitable for the purpose intended. In addition, models may not perform as intended for many reasons, including errors,
omissions, imperfections or malfunctions. Because models are usually constructed based on data supplied by third parties, the success
of the Index’s use of such models is dependent on the accuracy and reliability of the supplied data. Historical data inputs may
be subject to revision or corrections, which may diminish data reliability and the quality of predictive results. Changing and unforeseen
market dynamics could also lead to a decrease in the short-term or long-term effectiveness of a model. Models may lose their predictive
validity and incorrectly forecast future market behavior and asset prices, leading to potential losses. No assurance can be given that
a model will be successful under all or any market conditions.</span></p><div id="xdx_C0C_gRBRTB-TFO_zz0MUBlCWExh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--NoncorrelationRiskMember_zNaQEMr4FDH7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Correlation
Risk.</b> The Fund’s return may not match the return of the Index for a number of reasons, including the following:</span></p><div id="xdx_C03_gRBRTB-TFO_zRLcqF1Z4Wtg"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund incurs operating expenses not applicable to the Index, and incurs costs in buying and
selling securities, especially when rebalancing the Fund’s securities holdings to reflect
changes in the composition of the Index.</span></td></tr></table></div>
<div id="xdx_C0A_gRBRTB-TFO_z1YLCMkFDj3f"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
performance of the Fund and the Index may vary due to asset valuation differences: the Fund
may fair value certain of the securities it holds and, to the extent it calculates its NAV
based on fair value prices, the Fund’s ability to track the Index may be adversely
affected.</span></td></tr></table></div>
<div id="xdx_C08_gRBRTB-TFO_zQrNFkSD0UEl"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
may be differences between the Fund’s portfolio and the Index as a result of legal
restrictions, cost or liquidity constraints. For example, the Index is not subject to the
tax diversification requirements to which the Fund must adhere; so the Fund may be required
to deviate its investments from the securities and relative weightings of the Index. Similarly,
the Fund may not invest in certain securities included in the Index due to liquidity constraints.
Liquidity constraints also may delay the Fund’s purchase or sale of securities included
in the Index.</span></td></tr></table></div>
<div id="xdx_C09_gRBRTB-TFO_zpY9m3t30XW3"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
investment activities of one or more of the Advisor’s affiliates for their proprietary
accounts and for client accounts may also adversely impact the Fund’s ability to track
the Index. For example, in regulated industries, and in corporate and regulatory ownership
definitions, there may be limits on the aggregate amount of investment by affiliated investors
that may not be exceeded, or that may not be exceeded without the grant of a license or other
regulatory or corporate consent or, if exceeded, may cause the Advisor, the Fund or other
client accounts to suffer disadvantages or business restrictions. As a result, the Fund may
be restricted in its ability to acquire particular securities due to positions held by the
Advisor’s affiliates.</span></td></tr></table></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--PassiveInvestmentRiskMember_zrqk3AilSv8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Passive
Investment Risk.</b></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund is not actively managed
and may be affected by a general decline in market segments related to the Index. The Fund invests in securities included in, or representative
of securities included in, the Index, regardless of their investment merits. The Fund does not take defensive positions under any market
conditions, including conditions that are adverse to the performance of the Fund, unless such defensive positions are also taken by the
Index.</span></p><div id="xdx_C03_gRBRTB-TFO_zFSzGIhna5l1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zts21s5C8F31" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Preferred
Stock Risk.</b> Typically, a rise in interest rates causes a decline in the value of preferred stocks. Preferred stocks are also subject
to credit and default risk, which is the possibility that an issuer of preferred stock will fail to make its dividend payment. Issuers
of preferred stocks may redeem their securities prior to maturity at a price below their current market value, which would negatively
impact the investment return of such preferred stocks.</span></p><div id="xdx_C09_gRBRTB-TFO_z4zqtDWXbpXh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--PrepaymentRiskMember_zW2cPjoWDJlk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Prepayment
Risk.</b> The Fund may invest in debt securities that may be paid off early when the issuer of a debt security can repay the principal
prior to a security’s maturity. If interest rates are falling, the Fund may have to reinvest the unanticipated proceeds at lower
interest rates, resulting in a decline in the Fund’s income.</span></p><div id="xdx_C01_gRBRTB-TFO_zJkGUYspIYG8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--RealEstateRiskMember_zhGbn0f1VFC4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Real
Estate Risk</b>. The Fund is subject to the risks of the real estate market as a whole, such as taxation, regulations and economic and
political factors that negatively impact the real estate market and the direct ownership of real estate. These may include decreases
in real estate values, overbuilding, rising operating costs, interest rates and property taxes. In addition, some real estate related
investments are not fully diversified and are subject to the risks associated with financing a limited number of projects.</span></p><div id="xdx_C00_gRBRTB-TFO_zTZwE0PQH55f"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--REITRiskMember_zM4QxVKP3dy1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>REIT
Risk. </b>The Fund’s investments in REITs are subject to the same risks as direct investments in real estate, including sensitivity
to general economic downturns and the volatility of local real estate markets. REITs may have limited financial resources and their securities
may trade infrequently and in limited volume, and thus may be more volatile than other securities. The liquidity of REITs may change
dramatically over time.</span></p><div id="xdx_C0A_gRBRTB-TFO_zZbUGRbiSmIh"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--SamplingRiskMember_zH9DGbilGmYh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sampling
Risk.</b> The sampling approach, if used, could result in the Fund holding a smaller number of securities than are in the Index. As a
result, an adverse development with an issuer of securities held by the Fund could result in a greater decline in NAV or market price
than would be the case if the Fund held all of the securities in the Index. To the extent the assets in the Fund are smaller, these risks
will be greater.</span></p><div id="xdx_C09_gRBRTB-TFO_zOy0zpklGLP8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--TrackingErrorRiskMember_z8RQqvDCU7p8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Tracking
Error Risk.</b> Tracking error is the divergence of the Fund’s performance from that of the Index. Tracking error may occur because
of imperfect correlation between the Fund’s holdings of portfolio securities and those in the Index, pricing differences, the Fund’s
holding of cash, differences in timing of the accrual of dividends, changes to the Index, transaction and financing costs related to
the use of derivatives or the need to meet various regulatory requirements. This risk may be heightened during times of increased market
volatility or other unusual market conditions. Tracking error also may result because the Fund incurs fees and expenses, while the Index
does not.</span></p>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_gRBRTB-HH_z7ehNIdWPCK5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Underlying
Fund Risk</b>. Other investment companies, including ETFs (“Underlying Funds”), in which the Fund invests are subject to
investment advisory and other expenses, which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund will
be higher than the cost of investing directly in the Underlying Funds, and may be higher than other funds that invest directly in stocks
and bonds. Each of the Underlying Funds is subject to its own specific risks and is also subject to the following additional risks: (i)
the ETF’s market price may be less than its net asset value; (ii) an active market for the ETF may not develop or be maintained;
and (iii) market trading in the ETF may be illiquid or even halted under certain circumstances. Certain additional risks of investing
in ETFs are described below:</span></p><div id="xdx_C06_gRBRTB-TFO_zEl7YwHRiiaf"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NetAssetValueAndMarketPriceRiskMember_zzTihnbcwYMl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Net
Asset Value and Market Price Risk:</i> The market value of ETF shares may differ from their
net asset value. This difference in price may be due to the fact that the supply and demand
in the market for fund shares at any point in time is not always identical to the supply
and demand in the market for the underlying basket of securities. Accordingly, there may
be times when shares trade at a premium or discount to net asset value.</span></td></tr></table></div>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NetAssetValueAndMarketPriceRiskMember_zzTihnbcwYMl">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Net
Asset Value and Market Price Risk:</i> The market value of ETF shares may differ from their
net asset value. This difference in price may be due to the fact that the supply and demand
in the market for fund shares at any point in time is not always identical to the supply
and demand in the market for the underlying basket of securities. Accordingly, there may
be times when shares trade at a premium or discount to net asset value.</span></td></tr></table></div><div id="xdx_C0D_gRBRTB-TFO_zJIJ8DTGH6Sa"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentObligationsRiskMember_zpHQ9ON8KNja" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>U.S.
Government Obligations Risk.</b> U.S. Treasury obligations are backed by the “full faith and credit” of the U.S. government
and generally have negligible credit risk. Securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises may or may not be backed by the full faith and credit of the U.S. government. The Fund may be subject
to such risk to the extent it invests in securities issued or guaranteed by federal agencies or authorities and U.S. government-sponsored
instrumentalities or enterprises. </span></p><div id="xdx_C0E_gRBRTB-TFO_zZhyXfGpG09h"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--UtilitiesSectorRiskMember_z13JC57mOlz8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Utilities
Sector Risk. </b>Companies in the utilities sector are subject to a variety of factors that may adversely affect their business or operations,
including high interest costs associated with capital construction and improvement programs; difficulty in raising adequate capital in
periods of high inflation and unsettled capital markets; governmental regulation of rates the issuer can charge to customers; costs associated
with compliance with environmental and other regulations; effects of economic slowdowns and surplus capacity; increased competition;
and potential losses resulting from a developing deregulatory environment.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Performance:
<p id="xdx_A8C_eoef--PerformanceNarrativeTextBlock_znnpDeMTLoO4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zSalFmObiikj">The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of the Nasdaq 7HANDL<sup>TM
</sup>Index, as well as a broad-based market index reflecting the performance of investment grade fixed income securities.</span> <span id="xdx_90D_eoef--PerformancePastDoesNotIndicateFuture_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zYBC3HXYdcVf">How the Fund
has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.</span> Updated performance
information is available at no cost at <span id="xdx_90E_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_z844o99SZ42a">www.strategysharesetfs.com</span> or by calling <span id="xdx_90D_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_z8ac2KlZcGZb">(855) 4SS-ETFS or (855) 477-3837</span>.</span></p>
The
bar chart and accompanying table shown below provide an indication of the risks of investing in the Fund by showing the total return
of its shares for each full calendar year, and by showing how its average annual returns compare over time with those of the Nasdaq 7HANDLTM
Index, as well as a broad-based market index reflecting the performance of investment grade fixed income securities.
How the Fund
has performed in the past (before and after taxes) is not necessarily an indication of how it will perform in the future.
www.strategysharesetfs.com
(855) 4SS-ETFS or (855) 477-3837
Annual
Total Returns
<div id="xdx_A8E_eoef--BarChartTableTextBlock_znwh67kTtA3a"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zxU7S9bGXK59" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%; display: none" summary="xdx: Disclosure - Annual Total Returns">
<tr style="vertical-align: top; text-align: left">
<td style="width: 16%"> </td>
<td id="xdx_496_20190101__20191231_zoaB6LSRz3I8" style="width: 12%">2019</td>
<td id="xdx_496_20200101__20201231_zNc3GmbjO7o7" style="width: 12%">2020</td>
<td id="xdx_496_20210101__20211231_zvIilfAAUpp" style="width: 12%">2021</td>
<td id="xdx_496_20220101__20221231_zSt2v6RVnTtg" style="width: 12%">2022</td>
<td id="xdx_496_20230101__20231231_zr5aIdyi0J4b" style="width: 12%">2023</td>
<td id="xdx_496_20240101__20241231_zukCl0ZZ7y74" style="width: 12%">2024</td>
<td id="xdx_496_20250101__20251231_zRf874iRE9We" style="width: 12%">2025</td></tr>
<tr id="xdx_40A_eoef--AnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zCETzHlN70Qf" style="vertical-align: top; text-align: left">
<td> </td>
<td>16.98%</td>
<td>12.46%</td>
<td>9.32%</td>
<td>-18.71%</td>
<td>13.07%</td>
<td>10.47%</td>
<td>10.62%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><img alt="(BAR GRAPH)" src="st014_v1.jpg"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.1698
0.1246
0.0932
-0.1871
0.1307
0.1047
0.1062
<p id="xdx_A8C_eoef--BarChartClosingTextBlock_zatGCqEtp9Ml" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the period shown in the bar chart, <span id="xdx_900_eoef--HighestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_z1dbGZckf6a5">the highest return for a quarter was</span> <span id="xdx_909_eoef--BarChartHighestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zuHzUGwQGIbi">11.49%</span> (quarter ended <span id="xdx_90F_eoef--BarChartHighestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zCQVf0F5xfl3">June 30,
2020</span>), and <span id="xdx_90D_eoef--LowestQuarterlyReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zb5xSwooLYef">the lowest return for a quarter was</span> <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zD3qzoEARZJk">(12.60)%</span> (quarter ended <span id="xdx_90B_eoef--BarChartLowestQuarterlyReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zyH8CwWQLyR2">June
30, 2022</span>). </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90A_eoef--YearToDateReturnLabel_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zqq6OSjwkrl7">The
Fund’s year-to-date return</span> as of <span id="xdx_901_eoef--BarChartYearToDateReturnDate_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zMZKj0iyp1r6">June 30, 2026</span> was <span id="xdx_904_eoef--BarChartYearToDateReturn_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_z120iyNFHFKe">7.42%</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
the highest return for a quarter was
0.1149
2020-06-30
the lowest return for a quarter was
-0.1260
2022-06-30
The
Fund’s year-to-date return
2026-06-30
0.0742
Average
Annual Total Returns
(for
the periods ended December 31, 2025)
<div id="xdx_A83_eoef--PerformanceTableTextBlock_zPrUSbWdeph"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A54_dU_z1lZWRBVTjTf" style="font: 10pt Times New Roman, Times, Serif; width: 80%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="border-top: Black 1pt solid; padding: 0pt 5pt; font: 10pt Times New Roman, Times, Serif; width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td id="xdx_49A_20250101__20251231_zWdBhLPTkdad" style="border-top: Black 1pt solid; padding: 0pt 5pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1
Year</b></span></td>
<td id="xdx_490_20210101__20251231_zvFXnULzuhLe" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt 5pt; vertical-align: bottom; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>5
Years</b></span></td>
<td id="xdx_490_20180116__20251231_zLa2D3J061K" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt 5pt; vertical-align: bottom; width: 20%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Since
Inception<br/>
(<span id="xdx_90C_eoef--PerfInceptionDate_c20250101__20251231__dei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zcuyZVMuwSt4">January 16, 2018</span>)</b></span></td></tr>
<tr id="xdx_40D_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zp5ZNtzyBixd" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt 5pt 0pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eoef--AverageAnnualReturnLabel_c20250101__20251231__dei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member_zlLOcRqCoong">Return
Before Taxes</span></span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.62%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.19%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.56%</span></td></tr>
<tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zPuVy9FCgZ27" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt 5pt 0pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.25%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.67%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.87%</span></td></tr>
<tr id="xdx_408_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000059719Member__oef--ClassAxis__custom--C000195439Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zj3xS4NpLE6a" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 0pt 5pt 0pt 0.25in; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Return
After Taxes on Distributions and Sale of Fund Shares</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.35%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.57%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.58%</span></td></tr>
<tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000059719Member__oef--PerformanceMeasureAxis__custom--Nasdaq7HANDLTMIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_zArSjDR2eAn5" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Nasdaq
7HANDL<sup>TM</sup> Index (<span id="xdx_908_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_z3ccQqn6aI8j">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.90%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.54%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.98%</span></td></tr>
<tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hdei--LegalEntityAxis__custom--S000059719Member__oef--PerformanceMeasureAxis__custom--BloombergUSAggregateBondIndexReflectsNoDeductionForFeesExpensesOrTaxesMember_z8Yk0Dt2ZCug" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; font: 10pt Times New Roman, Times, Serif; vertical-align: top; border-bottom: Black 1pt solid; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Bloomberg
U.S. Aggregate Bond Index (<span id="xdx_908_eoef--IndexNoDeductionForFeesExpensesTaxes_c20260827__20260827__dei--LegalEntityAxis__custom--S000059719Member_zDHuMchL26a2">reflects no deduction for fees, expenses or taxes</span>)</b></span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.30%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(0.36)%</span></td>
<td style="border-right: Black 1pt solid; padding: 0pt 5pt; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.80%</span></td></tr>
</table>
2018-01-16
Return
Before Taxes
0.1062
0.0419
0.0556
0.0925
0.0267
0.0387
0.0635
0.0257
0.0358
reflects no deduction for fees, expenses or taxes
0.1190
0.0554
0.0698
reflects no deduction for fees, expenses or taxes
0.0730
-0.0036
0.0180
FUND
SUMMARY – MONOPOLY ETF
Investment
Objective:
<p id="xdx_A8E_eoef--ObjectivePrimaryTextBlock_zvz50XII6A7h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Fund seeks to provide long-term capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses:
<p id="xdx_A80_eoef--ExpenseNarrativeTextBlock_zvnwRkYfHEt6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may
pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example
below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Shareholder Fees (fees paid directly from your investment)
<div id="xdx_A84_eoef--ShareholderFeesTableTextBlock_zp3ezEeWjGya"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_z32LLbg2ZAh8" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 95%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Shareholder Fees">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"></td>
<td id="xdx_497_20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member__oef--ClassAxis__custom--C000260368Member_z5FuHDR9JRef" style="border-top: Black 1pt solid; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"></td></tr>
<tr id="xdx_40C_eoef--ShareholderFeeOther_dn_z864Szw8pH9j" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 85%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Shareholder
Fees<br/>
(fees paid directly from your investment)</b></span></td>
<td style="border-top: Black 1pt solid; vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">None</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td colspan="2" style="border-right: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
0
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A82_eoef--AnnualFundOperatingExpensesTableTextBlock_zbtSAJLthYhj"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A50_dU_ztVkyjY0tWHg" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 95%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: #D9D9D9">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual Fund Operating Expenses<br/>
(expenses that you pay each year as a percentage of the value of your investment)</b></span></td>
<td id="xdx_497_20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member__oef--ClassAxis__custom--C000260368Member_zLd8TjMn0ku5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt"> </td></tr>
<tr id="xdx_409_eoef--ManagementFeesOverAssets_dpn_zAOC8ZhDmMXk" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid; width: 85%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fee<sup id="xdx_F4F_zqErPwGfmR6k">(1)</sup></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.79%</span></td></tr>
<tr id="xdx_403_eoef--DistributionAndService12b1FeesOverAssets_dpn_zWnwVrm66Pk7" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and/or Service Fee (12b-1) Fees</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40B_eoef--OtherExpensesOverAssets_dpn_zRctbjo6PTfl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40F_eoef--ExpensesOverAssets_dpn_z5IxDDrvROB5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="border-bottom: black 1pt solid; padding: 1pt 5pt; font: 10pt Times New Roman, Times, Serif; border-left: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total
Annual Operating Expenses</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.79%</span></td></tr>
</table>
<p style="margin-top: 0; margin-bottom: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt auto; width: 95%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"></td><td style="width: 0.25in; text-align: left"><span id="xdx_F00_zMEuk3R2asKl" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</span></td><td style="text-align: justify"><span id="xdx_F1B_zCWRnL9ZOnBd" style="font-family: Times New Roman, Times, Serif; font-size: 8pt">The
management fee is structured as a “unified fee,” out of which the Fund’s advisor pays all routine expenses of the Fund,
except for the Fund’s management fee; payments under any 12b-1 plan; taxes; brokerage commissions and trading costs; interest (including
borrowing costs and overdraft charges); short sale dividends and interest expenses; acquired fund fees and expenses; and non-routine
or extraordinary expenses of the Fund (such as litigation or reorganizational costs), each of which is paid by the Fund.</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.0079
0.0000
0.0000
0.0079
Example:
<p id="xdx_A80_eoef--ExpenseExampleNarrativeTextBlock_zYgju5kaUcNj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
The Example
assumes that you invest $10,000 in the Fund for the time periods indicated and then sell or hold all of your shares at the end of those
periods. This Example does not reflect the effect of brokerage commissions or other transaction costs you pay in connection with the
purchase or sale of Fund shares. 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:
<div id="xdx_A86_eoef--ExpenseExampleWithRedemptionTableTextBlock_z5p4fZ0tKC6b"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A53_dU_z27krOnYjwka" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="width: 2%"> </td>
<td id="xdx_48F_eoef--ExpenseExampleYear01_zMnVBnu5KyCf" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 31pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_489_eoef--ExpenseExampleYear03_zvy8kNLd7im7" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td>
<td id="xdx_48D_eoef--ExpenseExampleYear05_zkx0TY3cFT3h" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">5
Years</span></b></span></td>
<td id="xdx_484_eoef--ExpenseExampleYear10_zhC15WPOfsmd" style="font: 10pt Times New Roman, Times, Serif; width: 24.5%; padding-right: 30.5pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">10
Years</span></b></span></td></tr>
<tr id="xdx_413_20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member__oef--ClassAxis__custom--C000260368Member_zEoB6A7KOTfh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.85pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$81</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$252</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$439</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$978</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.85pt; padding-left: 1.95pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 30.3pt; padding-left: 30.9pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table>
81
252
439
978
Portfolio
Turnover:
<p id="xdx_A80_eoef--PortfolioTurnoverTextBlock_zqamXpJM3a34" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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. For the fiscal period from May 15, 2025 (commencement of operations) to April 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_90A_eoef--PortfolioTurnoverRate_dp_c20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member_zrbPshrdK7P7">9%</span> of the average value of its portfolio.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
0.09
Principal
Investment Strategy
<p id="xdx_A8E_eoef--StrategyNarrativeTextBlock_zcyP9lpntjBh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund seeks to achieve its investment objective by investing in the common stock of companies that demonstrate “Monopolistic Attributes.”
Such companies may possess Monopolistic Attributes either: (1) individually, by dominating a market with limited to no competition for
its products or services from other companies (a monopoly); or (2) collectively, by dominating a market with one or more other companies
that sell similar products or services with limited to no competition from others (an oligopoly). Such characteristics typically allow
these companies to earn substantial economic rents (i.e., charge higher prices or incur lower costs than competitors), maintain robust
pricing power, and sustain strong revenue and earnings growth over time.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
normal market conditions, the Fund invests in U.S. and non-U.S. companies with market capitalizations of at least $2 billion and that
are traded on U.S. exchanges, including American depository receipts (“ADRs”). The Fund’s portfolio is predominantly
market cap weighted, meaning investments in the Fund are allocated based on the size of the companies. However, the Fund’s investment
sub-advisor, Rareview Capital LLC (the “Sub-Advisor”), uses its discretion to determine final portfolio weightings.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Companies
are selected for investment by the Sub-Advisor based on qualitative analysis of the Monopolistic Attributes of a company, as well as
quantitative analysis of various financial performance metrics, such as revenue growth, profit margin, return on investment, return on
equity, debt-to-equity ratio and earnings per share. Monopolistic Attributes of a company include, but are not limited to: (i) brand
dominance; (ii) regulatory exclusivity (i.e., when a company gets special protection from the government that prevents other companies
from competing with it for a certain period of time); (iii) industry concentration (i.e., possession of a substantial share of the market);
(iv) historical antitrust reviews (i.e., previous government accusations of antitrust law violations); (v) monopolistic or oligopolistic
economic rents; (vi) high barriers of market entry; (vii) pricing power (i.e., a company’s ability to increase prices without losing
customers); (viii) vertically integrated and control of the supply chain (i.e., the company owns or directly manages all the steps needed
to make and sell its product); (ix) benefits from network effects (i.e., a product or service that becomes more valuable as more people
use it); and (x) protected intellectual property or patents. To be considered for investment by the Fund, companies must possess one
or more of these attributes. The Sub-Advisor has broad discretion to invest in companies that it believes possess one or more of these
Monopolistic Attributes and exhibit strong financial performance metrics, and will sell companies that it believes no longer possess
or exhibit these Monopolistic Attributes and/or attractive financial performance metrics. Under normal circumstances, the Fund will invest
at least 80% of its net assets, plus the amount of borrowings for investment purposes, in the securities of companies that demonstrate
Monopolistic Attributes.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund expects to typically hold approximately 75 to 125 companies. The Fund may have significant exposures to specific sectors, such as
information technology. The Fund will not invest in federal or state regulated utilities that have price controls.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund is classified as a “non-diversified” investment company under the Investment Company Act of 1940, as amended (the “1940
Act”), which means that it may invest a high percentage of its assets in a limited number of issuers.</span></p>
<p id="xdx_A85_eoef--RiskTextBlock_gRBRTB-KSVIJW_z5v2O2dXQDj5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
with any Exchange-Traded Fund (“ETF”), there is no guarantee that the Fund will achieve its investment objective. Investment
markets are unpredictable and there will be certain market conditions where the Fund will not meet its investment objective and will
lose money. The Fund’s net asset value (“NAV”), market price and returns will vary and you could lose money on your
investment in the Fund, and those losses could be significant.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following summarizes the principal risks of investing in the Fund. These risks could adversely affect the NAV, market price, total return,
and the value of the Fund and your investment.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
could lose money by investing in the Fund. The Fund is subject to the risks summarized below. Any of these risks could adversely affect
the Fund’s NAV, trading price, yield, total return, or ability to meet its investment objective.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRRiskMember_zIxvAal8xyR2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. ADRs may not track the
price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets
are not open for trading. To establish a value for the shares, the issuer establishes a “conversion rate” equal to one share
of an ADR for a certain number of shares of the stock of a foreign company. As a result, even if the price of the foreign security does
not change on its market, if the exchange rate of the local currency relative to the US Dollar declines, the ADR price would decline
by a similar measure. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.</span></p><p id="xdx_A9C_zX0uzzwSz885" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zJOunAbslSDh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to NAV and possibly face delisting. These risks could cause intraday bid/ask
spreads for the Fund’s shares to widen.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zPQ0bUIvIDIj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The price of common stock in the Fund’s portfolio will fluctuate based on actual or perceived changes in a
company’s financial condition and on market and economic conditions. Investor perceptions are based on various and unpredictable
factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic
expansion or contraction; and global or regional political, economic and banking crises.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-AYGN_zQNApxvcntr" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund is structured as an ETF and as a result is subject to special risks, including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C00_gRBRTB-AYGN_zlwvawxAAjC6"><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zCmITEX11VGd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market, and investors typically pay brokerage commissions or other charges on these transactions.</span></td>
</tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C0F_gRBRTB-AYGN_zbFVkRyQnJa2"><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zQ0uKH6plEu2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td>
</tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C0E_gRBRTB-AYGN_zW2p3diLeOh2"><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zHStmzSIP5F4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td>
</tr></table></div></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread
of the Fund to widen.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the
result that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected
in the bid/ask price for Fund shares or in the closing price.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares
is open, there may be changes from the last quote of the closed market and the quote from the Fund’s trading day, which can lead
to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity
of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between
the market value of the Fund’s shares and the Fund’s NAV, which can cause the intra-day bid/ask spread of the Fund to widen.</span></td>
</tr></table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zlkBSxkD4lRj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Securities Risk. </b>Since the Fund’s investments may include ADRs, the Fund is subject to risks beyond those associated with investing
in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject
to the same regulatory requirements as U.S. companies, thereby resulting in less publicly available information about these companies.
In addition, foreign accounting, auditing and financial reporting standards generally differ from those applicable to U.S. companies.
</span></p><p id="xdx_A92_zUvC1mHtNPz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"> </p><p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zSUr5JLUGFl8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> Investments in larger, more established companies are subject to the risk that larger companies are
sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.
Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Larger,
more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative
smaller competitors, potentially resulting in lower markets for their common stock. During different market cycles, the performance of
large capitalization companies has trailed the overall performance of the broader securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zYmlmi7gz9j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> The investment strategies and models employed by the Sub-Advisor in selecting investments and asset allocations for the Fund
may not result in an increase in the value of your investment or in overall performance equal to other similar investment vehicles having
similar investment strategies. In addition, the Sub-Advisor’s judgment about the attractiveness, value and potential appreciation
of particular stocks or other securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the Sub-Advisor’s
judgment will produce the desired result. The measures that the Advisor, Sub-Advisor or portfolio manager use to monitor and manage the
risks of the Fund may not accomplish the intended results and the Fund may experience losses significantly greater than expected.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zlg0CVzTR671" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s share price may decline
suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors such as economic growth
and market conditions, trading and tariff events, geopolitical conflicts, interest rate levels and political events affect the securities
markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zrA8V3y8mHCg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject
to additional risks. The earnings and prospects of these companies tend to be more volatile than larger companies. These companies
may experience higher failure rates than larger companies. Midsized companies normally have a lower trading volume than larger
companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling
pressures. Mid-sized companies may also have limited markets, product lines or financial resources, and may lack management
experience.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--NewFundRiskMember_z5NOEetCUc3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>New
Fund Risk. </b>The Fund is a relatively new fund with limited history of operations as an ETF for investors to evaluate. If the Fund
is unable to achieve an economic size, expenses will be higher than expected and the Fund might close, which could produce adverse tax
consequences for shareholders.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zwZ5lvaRQ2x2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Diversification
Risk</b>. The Fund is classified as a “non-diversified” fund under the 1940 Act. Accordingly, the Fund may invest a high
percentage of its assets in a limited number of issuers. To the extent that the Fund holds securities of a smaller number of issuers
or invests a larger percentage of its assets in a single issuer than would a diversified portfolio, the value of the Fund, as compared
to the value of a diversified portfolio, will generally be more volatile and more sensitive to the performance of any one of those issuers,
as well as to economic, political, market or regulatory events affecting any one of those issuers.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_gRBRTB-ROFSTL_z0qultHTzhy4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk.</b> Companies with high market dominance can be susceptible to sector-specific downturns or sudden valuation corrections if regulatory
or competitive landscapes shift. Economic, legislative or regulatory developments may occur that significantly affect the sector. This
may cause the Fund’s NAV to fluctuate more than that of a fund that does not focus in a particular sector.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund is subject to the following specific sector risks:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_C05_gRBRTB-ROFSTL_zR6y7KDxdd1j"><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InformationTechnologySectorRiskMember_zrGLovCKcwSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Information
Technology Sector Risk.</i> Information technology companies face intense competition and may have limited product lines, markets, financial
resources or personnel. The products of information technology companies may face obsolescence. Companies in the information technology
sector are heavily dependent on patent and intellectual property rights.</span></p></div><p id="xdx_A95_z3SGCLpfJ2B5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
more information, please see the section of the Fund’s Prospectus entitled “Additional Information About the Fund’s
Principal Investment Strategies and Related Risks.”</span></p>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--ADRRiskMember_zIxvAal8xyR2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ADR
Risk.</b> ADRs, which are typically issued by a bank, are certificates that evidence ownership of shares of a foreign company and are
alternatives to purchasing foreign securities directly in their national markets and currencies. ADRs are subject to the same risks as
direct investment in foreign companies and involve risks that are not found in investments in U.S. companies. ADRs may not track the
price of the underlying foreign securities on which they are based, and their value may change materially at times when U.S. markets
are not open for trading. To establish a value for the shares, the issuer establishes a “conversion rate” equal to one share
of an ADR for a certain number of shares of the stock of a foreign company. As a result, even if the price of the foreign security does
not change on its market, if the exchange rate of the local currency relative to the US Dollar declines, the ADR price would decline
by a similar measure. Certain ADRs are not listed on an exchange and therefore may be considered to be illiquid.</span></p>
<p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zJOunAbslSDh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Authorized
Participant Risk. </b>The Fund has a limited number of financial institutions that may act as Authorized Participants. An “Authorized
Participant” is a participant in the Continuous Net Settlement System of the National Securities Clearing Corporation or the Depository
Trust Company (“DTC”), and that has executed a Participant Agreement with the Fund’s distributor (“Distributor”).
To the extent these Authorized Participants exit the business or are unable to process creation and/or redemption orders and no other
Authorized Participant is able to step forward to process creation and/or redemption orders, in either of these cases, shares of the
Fund may trade like closed-end fund shares at a discount to NAV and possibly face delisting. These risks could cause intraday bid/ask
spreads for the Fund’s shares to widen.</span></p><div id="xdx_C0E_gRBRTB-KSVIJW_zEglTdMykb3i"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_zPQ0bUIvIDIj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Equity
Securities Risk.</b> The price of common stock in the Fund’s portfolio will fluctuate based on actual or perceived changes in a
company’s financial condition and on market and economic conditions. Investor perceptions are based on various and unpredictable
factors, including expectations regarding government, economic, monetary and fiscal policies; inflation and interest rates; economic
expansion or contraction; and global or regional political, economic and banking crises.</span></p><div id="xdx_C07_gRBRTB-KSVIJW_zSaEr85k3jM7"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRisksMember_gRBRTB-AYGN_zQNApxvcntr" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.25in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>ETF
Structure Risks.</b> The Fund is structured as an ETF and as a result is subject to special risks, including:</span></p><div id="xdx_C0F_gRBRTB-KSVIJW_z93rCV3d2U46"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zCmITEX11VGd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market, and investors typically pay brokerage commissions or other charges on these transactions.</span></td>
</tr></table></div><div id="xdx_C04_gRBRTB-KSVIJW_zlkEtYV17T3b"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zQ0uKH6plEu2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td>
</tr></table></div><div id="xdx_C0B_gRBRTB-KSVIJW_zKBP7gwcOzzj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zHStmzSIP5F4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td>
</tr></table></div><div id="xdx_C09_gRBRTB-KSVIJW_zGJWTD45dRZ9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread
of the Fund to widen.</span></td>
</tr></table></div><div id="xdx_C0A_gRBRTB-KSVIJW_z7vQgUHBJTp8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the
result that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected
in the bid/ask price for Fund shares or in the closing price.</span></td>
</tr></table></div><div id="xdx_C0C_gRBRTB-KSVIJW_zpFafIQdBHtj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares
is open, there may be changes from the last quote of the closed market and the quote from the Fund’s trading day, which can lead
to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td>
</tr></table></div><div id="xdx_C07_gRBRTB-KSVIJW_zTuLNB46Psm6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity
of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between
the market value of the Fund’s shares and the Fund’s NAV, which can cause the intra-day bid/ask spread of the Fund to widen.</span></td>
</tr></table></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zCmITEX11VGd">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable</i>. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known
as “Creation Units.” You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit. Fund shares are
typically bought and sold in the secondary market, and investors typically pay brokerage commissions or other charges on these transactions.</span></td>
</tr></table></div><div id="xdx_C0B_gRBRTB-AYGN_zqmwfH2XuJxe"><div id="xdx_C04_gRBRTB-KSVIJW_zlkEtYV17T3b"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zQ0uKH6plEu2">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues</i>. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange,
make trading in Shares inadvisable, such as extraordinary market volatility. There can be no assurance that Shares will continue to meet
the listing requirements of the Exchange. An active trading market for the Fund’s shares may not be developed or maintained. If
the Fund’s shares are traded outside a collateralized settlement system, the number of financial institutions that can act as authorized
participants that can post collateral on an agency basis is limited, which may limit the market for the Fund’s shares.</span></td>
</tr></table></div><div id="xdx_C05_gRBRTB-AYGN_zLQ2S0325mce"><div id="xdx_C0B_gRBRTB-KSVIJW_zKBP7gwcOzzj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zHStmzSIP5F4">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk</i>. The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV and intra-day bid/ask spreads may widen.</span></td>
</tr></table></div><div id="xdx_C06_gRBRTB-AYGN_zhUOXiqEKRR3"><div id="xdx_C09_gRBRTB-KSVIJW_zGJWTD45dRZ9"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can
lead to differences between the market value of Fund shares and the Fund’s NAV, which could cause the intra-day bid/ask spread
of the Fund to widen.</span></td>
</tr></table></div></div>
<div id="xdx_C04_gRBRTB-AYGN_zm3N4nXFdhId"><div id="xdx_C0A_gRBRTB-KSVIJW_z7vQgUHBJTp8"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price for the Fund’s shares may deviate from the Fund’s NAV, particularly during times of market stress, with the
result that investors may pay significantly more or significantly less for Fund shares than the Fund’s NAV, which is reflected
in the bid/ask price for Fund shares or in the closing price.</span></td>
</tr></table></div></div>
<div id="xdx_C08_gRBRTB-AYGN_zyNjc56IiQK3"><div id="xdx_C0C_gRBRTB-KSVIJW_zpFafIQdBHtj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the Fund’s shares
is open, there may be changes from the last quote of the closed market and the quote from the Fund’s trading day, which can lead
to differences between the market value of the Fund’s shares and the Fund’s NAV, which could cause the intra-day bid/ask
spread of the Fund to widen.</span></td>
</tr></table></div></div>
<div id="xdx_C0E_gRBRTB-AYGN_zw19dtZUROD5"><div id="xdx_C07_gRBRTB-KSVIJW_zTuLNB46Psm6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">■</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity
of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between
the market value of the Fund’s shares and the Fund’s NAV, which can cause the intra-day bid/ask spread of the Fund to widen.</span></td>
</tr></table></div></div>
<div id="xdx_C09_gRBRTB-KSVIJW_zuZC8R90CYQd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zlkBSxkD4lRj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Foreign
Securities Risk. </b>Since the Fund’s investments may include ADRs, the Fund is subject to risks beyond those associated with investing
in domestic securities. The value of foreign securities is subject to currency fluctuations. Foreign companies are generally not subject
to the same regulatory requirements as U.S. companies, thereby resulting in less publicly available information about these companies.
In addition, foreign accounting, auditing and financial reporting standards generally differ from those applicable to U.S. companies.
</span></p>
<p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zSUr5JLUGFl8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Large
Capitalization Company Risk.</b> Investments in larger, more established companies are subject to the risk that larger companies are
sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion.
Large capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Larger,
more established companies may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative
smaller competitors, potentially resulting in lower markets for their common stock. During different market cycles, the performance of
large capitalization companies has trailed the overall performance of the broader securities markets.</span></p><div id="xdx_C05_gRBRTB-KSVIJW_zqRcIpLyd0o3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zYmlmi7gz9j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Management
Risk.</b> The investment strategies and models employed by the Sub-Advisor in selecting investments and asset allocations for the Fund
may not result in an increase in the value of your investment or in overall performance equal to other similar investment vehicles having
similar investment strategies. In addition, the Sub-Advisor’s judgment about the attractiveness, value and potential appreciation
of particular stocks or other securities in which the Fund invests may prove to be incorrect, and there is no guarantee that the Sub-Advisor’s
judgment will produce the desired result. The measures that the Advisor, Sub-Advisor or portfolio manager use to monitor and manage the
risks of the Fund may not accomplish the intended results and the Fund may experience losses significantly greater than expected.</span></p><div id="xdx_C0F_gRBRTB-KSVIJW_z8WUzcuPqRh3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zlg0CVzTR671" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Market
Risk.</b> The value of securities in the Fund’s portfolio will fluctuate and, as a result, the Fund’s share price may decline
suddenly or over a sustained period of time. Overall market risks may also affect the value of the Fund. Factors such as economic growth
and market conditions, trading and tariff events, geopolitical conflicts, interest rate levels and political events affect the securities
markets.</span></p><div id="xdx_C0A_gRBRTB-KSVIJW_z9Hz1jLzfewe"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MediumMidCapitalizationCompanyRiskMember_zrA8V3y8mHCg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Medium
(Mid) Capitalization Company Risk</b>. To the extent the Fund invests in the stocks of mid-sized companies, the Fund may be subject
to additional risks. The earnings and prospects of these companies tend to be more volatile than larger companies. These companies
may experience higher failure rates than larger companies. Midsized companies normally have a lower trading volume than larger
companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling
pressures. Mid-sized companies may also have limited markets, product lines or financial resources, and may lack management
experience.</span></p><div id="xdx_C05_gRBRTB-KSVIJW_z1pgpPKUqMIk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--NewFundRiskMember_z5NOEetCUc3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>New
Fund Risk. </b>The Fund is a relatively new fund with limited history of operations as an ETF for investors to evaluate. If the Fund
is unable to achieve an economic size, expenses will be higher than expected and the Fund might close, which could produce adverse tax
consequences for shareholders.</span></p><div id="xdx_C05_gRBRTB-KSVIJW_zprPsWnA2cG5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zwZ5lvaRQ2x2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Non-Diversification
Risk</b>. The Fund is classified as a “non-diversified” fund under the 1940 Act. Accordingly, the Fund may invest a high
percentage of its assets in a limited number of issuers. To the extent that the Fund holds securities of a smaller number of issuers
or invests a larger percentage of its assets in a single issuer than would a diversified portfolio, the value of the Fund, as compared
to the value of a diversified portfolio, will generally be more volatile and more sensitive to the performance of any one of those issuers,
as well as to economic, political, market or regulatory events affecting any one of those issuers.</span></p><div id="xdx_C0E_gRBRTB-KSVIJW_zQ5UBfXjlLBi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorRiskMember_gRBRTB-ROFSTL_z0qultHTzhy4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Sector
Risk.</b> Companies with high market dominance can be susceptible to sector-specific downturns or sudden valuation corrections if regulatory
or competitive landscapes shift. Economic, legislative or regulatory developments may occur that significantly affect the sector. This
may cause the Fund’s NAV to fluctuate more than that of a fund that does not focus in a particular sector.</span></p><div id="xdx_C0D_gRBRTB-KSVIJW_zt8V3QBuUMMj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0B_gRBRTB-KSVIJW_zajKHl6sKxw3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Fund is subject to the following specific sector risks:</span></p></div>
<div id="xdx_C09_gRBRTB-KSVIJW_zFkwhAb3zpk4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InformationTechnologySectorRiskMember_zrGLovCKcwSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Information
Technology Sector Risk.</i> Information technology companies face intense competition and may have limited product lines, markets, financial
resources or personnel. The products of information technology companies may face obsolescence. Companies in the information technology
sector are heavily dependent on patent and intellectual property rights.</span></p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--InformationTechnologySectorRiskMember_zrGLovCKcwSe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Information
Technology Sector Risk.</i> Information technology companies face intense competition and may have limited product lines, markets, financial
resources or personnel. The products of information technology companies may face obsolescence. Companies in the information technology
sector are heavily dependent on patent and intellectual property rights.</span></p>
Performance:
<p id="xdx_A80_eoef--PerformanceNarrativeTextBlock_zPZ2F6J27Ix8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_909_eoef--PerformanceOneYearOrLess_c20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member_zjeRuKasd4z7">Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.</span> In the future, performance information will be presented in this section of this Prospectus. Updated performance information will
be available at no cost by calling <span id="xdx_901_eoef--PerformanceAvailabilityPhone_c20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member_zBpnhBOGyOG">(855) 4SS-ETFS or (855) 477-3837</span> and on the Fund’s website at <span style="text-decoration: underline"><span id="xdx_905_eoef--PerformanceAvailabilityWebSiteAddress_c20260827__20260827__dei--LegalEntityAxis__custom--S000092393Member_znESTEWOAeXl">www.strategysharesetfs.com</span></span>.</span></p>
Because
the Fund does not yet have a full calendar year of investment operations, no performance information is presented for the Fund at this
time.
(855) 4SS-ETFS or (855) 477-3837
www.strategysharesetfs.com