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FUND SUMMARY - RAREVIEW
MULTI-ASSET ETF
Investment Objective:
<p id="xdx_A8E_eoef--ObjectivePrimaryTextBlock_zxTxv6DUuFB6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Rareview Multi-Asset ETF (the
“Fund”) seeks to achieve long-term capital appreciation.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p>
Fees and Expenses of the Fund:
<p id="xdx_A89_eoef--ExpenseNarrativeTextBlock_zyLcuehsEZoe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This
table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund. <b>You may pay other fees,
such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below.</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<div id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_z2zXjWmC2RW9"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A59_dU_zrVuPUP0Myr5" style="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse; margin-left: 0.5in" summary="xdx: Disclosure - Annual Fund Operating Expenses">
<tr style="vertical-align: top; background-color: #D9D9D9">
<td style="border: Black 1pt solid;width: 89%; padding-right: 5.4pt; padding-left: 5.4pt"><p id="xdx_984_eoef--OperatingExpensesCaption_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_gBFOEC-IGBM_zRj1xxkqzAO9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Annual
Fund Operating Expenses </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_C06_gBFOEC-IGBM_zx9QoT7tOT0d">(expenses that you pay each year </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_C07_gBFOEC-IGBM_zYNsiVrdZqY">as a percentage of the value of
your investment)</span> </p></td>
<td id="xdx_492_20260828__20260828__oef--ClassAxis__custom--C000279092Member_zomhcZidWQH" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid;width: 11%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td></tr>
<tr id="xdx_406_eoef--ManagementFeesOverAssets_dp_zvdN3aiibg26" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Management
Fees</td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.70%</td></tr>
<tr id="xdx_40A_eoef--DistributionAndService12b1FeesOverAssets_dp_zBJtuthAfXY7" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Distribution
and Service (12b-1) Fees</td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.00%</td></tr>
<tr id="xdx_40C_eoef--OtherExpensesOverAssets_dp_zY613nrlY2S2" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Other
Expenses<sup id="xdx_F4E_z3VKsu0bXKQe">(1)</sup></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.27%</td></tr>
<tr id="xdx_40C_eoef--AcquiredFundFeesAndExpensesOverAssets_dp_zNGa7ziQwtCj" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Acquired
Fund Fees and Expenses<sup id="xdx_F42_zV8LVgEL5La1">(1)(2)</sup></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.20%</td></tr>
<tr id="xdx_40A_eoef--ExpensesOverAssets_dp_zPTKByVR9MR4" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Total
Annual Fund Operating Expenses</td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.17%</td></tr>
<tr id="xdx_40F_eoef--FeeWaiverOrReimbursementOverAssets_dp_zal106ItZFy4" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Fee
Waiver and Expense Reimbursement<sup id="xdx_F4F_zH9JygsbvMu2">(3)</sup></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">(0.22%)</td></tr>
<tr id="xdx_407_eoef--NetExpensesOverAssets_dp_znwqvsQuNDUc" style="vertical-align: top">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Total
Annual Fund Operating Expenses After Fee Waiver and Reimbursement</td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.95%</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; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td id="xdx_F08_z4z3Nm4FsMkl" style="width: 0.5in">(1)</td><td id="xdx_F11_zpUatD2FlQBl" style="text-align: justify; padding-right: 0.4in"><span id="xdx_901_eoef--OtherExpensesNewFundBasedOnEstimates_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_zjgKaNSKiNka"><span id="xdx_903_eoef--AcquiredFundFeesAndExpensesBasedOnEstimates_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_z1bWQavyUSOh">Estimated for the current fiscal period.</span></span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td id="xdx_F02_zsU6U3SnKfc9" style="width: 0.5in">(2)</td><td id="xdx_F1C_z3tZTCKzoDB8" style="text-align: justify; padding-right: 0.4in">Acquired Fund Fees and Expenses are the indirect costs of investing in other
investment companies. <span id="xdx_902_eoef--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_zUx4i5UKiFB4">The 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.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.5in"></td><td style="width: 0.5in"><span id="xdx_F08_z3vSlBVIHzN6">(3)</span></td><td style="text-align: justify; padding-right: 0.4in"><span id="xdx_F16_zTLXmQDUGq4g">Rareview Capital LLC (the “Adviser”) has contractually agreed
to waive a portion or all of its management fees and/or reimburse Fund expenses (excluding front-end or contingent deferred loads,
Rule 12b-1 fees, shareholder servicing fees, acquired fund fees and expenses, taxes, leverage/borrowing interest, interest expense,
dividends on securities sold short, brokerage or other transactional expenses and extraordinary expenses) in order to limit the
Total Annual Fund Operating Expenses to 0.75% of average daily net assets of the Fund (the “Expense Cap”). The Expense
Cap will remain in effect through at least January 28, 2028 and may be terminated at any time upon 60 days’ written notice
by the Trust’s Board of Trustees (the “Board”). The Adviser may request recoupment of previously waived fees
and reimbursed expenses from the Fund for three years from the date they were waived or reimbursed, provided that after payment
of the recoupment, the Total Annual Fund Operating Expenses do not exceed the lesser of the Expense Limitation Agreement: (i) in
effect at the time of the waiver or reimbursement, or (ii) in effect at the time of recoupment.</span></td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
Annual
Fund Operating Expenses (expenses that you pay each year as a percentage of the value of
your investment)
0.0070
0.0000
0.0027
0.0020
0.0117
-0.0022
0.0095
Estimated for the current fiscal period.
Estimated for the current fiscal period.
The 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.
Example:
<p id="xdx_A80_eoef--ExpenseExampleNarrativeTextBlock_zNNxYZ3FKEi1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Example is
intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.</p>
<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">The Example assumes that you invest $10,000
in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes
that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The Example further
assumes that the Fund’s operating expense limitation agreement will only be in place for the term specified above. Although
your actual costs may be higher or lower, based upon these assumptions your costs would be:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<div id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_ztV8cHzJqoY2"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zmnv6GYkqvA" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example">
<tr style="vertical-align: top">
<td style="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b><span style="text-decoration: underline">1 Year</span></b><br/>
$<span id="xdx_901_eoef--ExpenseExampleYear01_c20260828__20260828__oef--ClassAxis__custom--C000279092Member_zfQItpzZK6q">97</span></td>
<td style="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><b><span style="text-decoration: underline">3 Years</span></b><br/>
$<span id="xdx_90C_eoef--ExpenseExampleYear03_c20260828__20260828__oef--ClassAxis__custom--C000279092Member_zlFEc1igLgy6">350</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
97
350
Portfolio Turnover:
<p id="xdx_A8F_eoef--PortfolioTurnoverTextBlock_zBFAjBvIWNVk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund pays
transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher
portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable
account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s performance.</p>
<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"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
Principal Investment Strategies:
<p id="xdx_A80_eoef--StrategyNarrativeTextBlock_zU57BAJSbLMb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In seeking to pursue its investment objective,
the Fund varies its mix of direct or indirect exposure to equity securities, debt securities and money market instruments (debt
securities maturing in one year or less) and cash. The Fund seeks to invest in equity securities that offer the opportunity for
growth and/or provide income. The Fund may invest in equity securities of issuers domiciled outside the United States (“U.S”).
The proportion of equities, debt and money market instruments and cash held by the Fund, as well as the selection of the underlying
fixed-income exchange-traded funds (“ETFs”), varies with market conditions and the Adviser’s assessment of their
relative attractiveness as investment opportunities. The underlying fixed-income ETFs may invest in a broad range of debt securities,
including corporate bonds and mortgage-backed and asset-backed securities issued by corporations, as well as U.S. government-sponsored
entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government. In
addition, the underlying funds may have significant exposure to bonds rated BB+ or below and Ba1 or below by Nationally Recognized
Statistical Rating Organizations designated by the Adviser, or unrated but determined by the Adviser to be of equivalent quality.
Securities rated BB+ or below and Ba1 or below are sometimes referred to as “junk bonds.” The Fund’s investment
in an underlying fund is not limited to a particular maturity or duration criteria. The Fund may invest in an affiliated money
market fund that is also advised by the Adviser.</p>
<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">The Adviser’s proprietary strategy
is an approach to strategic asset allocation that is designed with the goal of generating consistent returns across different economic
environments. The Adviser believes that asset classes have different structural sensitivities to economic conditions that can be
logically understood because they are rooted in the characteristics of the asset’s cash flows, and that this understanding
can be used to structure a portfolio that is diversified to what the Adviser believes are the most important fundamental macro
drivers of asset returns: growth and inflation. For example, allocating to assets that the Adviser believes will likely outperform
in rising growth (e.g., equities and commodities) alongside assets it believes will likely outperform in falling growth (e.g.,
fixed-rate and inflation-linked bonds) may help create a portfolio that collects the market risk premium with no fundamental sensitivity
to growth conditions. Similarly, allocating to assets that the Adviser believes will likely outperform in rising inflation (e.g.,
commodities and inflation-linked bonds) alongside assets it believes will likely outperform in low or stable inflation (e.g., fixed-rate
government debt and equities) may help create a portfolio that collects the market risk premium with no fundamental sensitivity
to inflation. </p>
<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"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
As
with all funds, there is the risk that you could lose money through your investment in the Fund.
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--AffiliatedFundRiskMember_zoYnE6OzJakl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Affiliated Fund Risk. </i>The Fund invests
in affiliated underlying funds (the “Affiliated Funds”), unaffiliated underlying funds, or a combination of both. The
Adviser, therefore, is subject to conflicts of interest in allocating the Fund’s assets among the Affiliated Funds. The Adviser
will receive more revenue to the extent it selects Affiliated Fund rather than an unaffiliated fund for inclusion in the Fund’s
portfolio. In addition, the Adviser may have an incentive to allocate the Fund’s assets to those Affiliated Funds for which
the net advisory fees payable to the Adviser are higher than the fees payable by other Affiliated Funds.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_z1uCoLpl1cz2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Cash and Cash Equivalents Risk. </i>The
Fund may hold cash or cash equivalents. Generally, such positions offer less potential for gain than other investments. Holding
cash or cash equivalents, even strategically, may lead to missed investment opportunities. This is particularly true when the market
for other investments in which the Fund may invest is rapidly rising. If the Fund holds cash uninvested it will be subject to the
credit risk of the depositing institution holding the cash.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommodityRiskMember_zSu33OIw4nOd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Commodity Risk. </i>Investing in the
commodities markets may subject the 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.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_zQdGSEWB1hr5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Derivatives Risk</i>. The Fund may
be subject to the risks of investing in derivative securities. The value of a derivative security may not move as expected relative
to the value of the relevant underlying assets, rates, or indices. Derivatives can be highly volatile and illiquid and may entail
investment exposure greater than the total value of the derivatives’ underlying assets (their “notional amount”).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesMember_zRZZgrCFHJs8"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Futures</i>. Futures contracts markets are highly volatile and are influenced by a variety
of factors, including national and international political and economic developments. Investing in futures usually exposes investors
to a greater degree of leverage than other investments. As a result, a relatively small price movement in a futures contract may
result in substantial losses to the Fund.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsMember_z6cnugXW8wzc"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Options</i>. The market value of options may not always move in synch with the market value
of the underlying securities. Specific market movements of an option and the instruments underlying an option cannot be predicted.
The purchaser of an option is subject to the risk of losing the entire purchase price of the option if the option has not been
sold or exercised prior to the option’s expiration date.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsMember_ztcI10XZrQZc"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Swaps</i>. Swaps are agreements to exchange cash flows. Swaps may be difficult to value and
may be considered illiquid. Swaps create significant investment leverage such that a relatively small price movement in a swap
may result in immediate and substantial loss.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquityRiskMember_zVR8dYkuhF4j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Equity Risk.</i> The NAV 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.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--FixedIncomeRiskMember_zGEymFKRmAJd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Fixed Income Risk. </i>The prices of
fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the
creditworthiness of individual issuers.</p>
<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"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--EtfStructureRisksMember_z8mBrif4B6q1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>ETF Structure Risks</i>. The Fund is
structured as an ETF and as a result is subject to special risks, including:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zgUmS2RmADBh"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Not Individually Redeemable</i>. The Fund’s shares (“Shares”) are not redeemable
by retail investors and may be redeemed only by Authorized Participants at NAV and only in Creation Units. A retail investor generally
incurs brokerage costs when selling shares.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--NoGuaranteeOfActiveTradingMarketMember_zg4rpLQviudj"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>No Guarantee of Active Trading Market</i>. While shares are listed on the Exchange, there can
be no assurance that an active trading market for the shares will be maintained. Further, secondary markets may be subject to irregular
trading activity, wide bid/ask spreads and extended trade settlement periods in times of market stress because market makers and
APs may step away from making a market in the shares and in executing creation and redemption orders, which could cause a material
deviation in the Fund’s market price from its NAV.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_znDQSLrDWsO6"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Trading Issues</i>. Trading in shares on the Cboe BZX Exchange, 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 which may result in the shares being delisted. An active trading market for the shares may not be developed or maintained.
If the 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 shares.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z0ToVeJjNcNg"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><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 shares. There may be times when the market price and the NAV vary significantly. This
means that shares may trade at a discount to NAV.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify">In times of market stress, market makers may step away from their role market making in the shares
and in executing trades, which can lead to differences between the market value of the shares and the Fund’s NAV.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify">The market price of the 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 the shares than the Fund’s
NAV, which is reflected in the bid and ask price for the shares or in the closing price.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.75in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify">In stressed market conditions, the market for the shares may become less liquid in response to
the deteriorating liquidity of the Fund’s portfolio. This adverse effect on the liquidity of the Shares may, in turn, lead
to differences between the market value of the shares and the Fund’s NAV.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zSiQGnCIGov6"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Authorized Participant Risk</i>. Only an Authorized Participant may engage in creation or
redemption transactions directly with the Fund. The Fund has a limited number of institutions that may act as an Authorized Participant
on an agency basis (i.e., on behalf of other market participants). To the extent that Authorized Participants exit the business
or are unable to proceed with creation or redemption orders with respect to the Fund and no other Authorized Participant is able
to step forward to create or redeem Creation Units, Fund shares may be more likely to trade at a premium or discount to NAV and
possibly face trading halts or delisting. Authorized Participant concentration risk may be heightened for investments or instruments
that have lower trading volumes.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashTransactionRiskMember_zcKCns6JVfb8"></div>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></td><td style="text-align: justify"><i>Cash Transaction Risk</i>. Purchases and redemptions of creation units
that are made primarily with cash, rather than through in-kind delivery of portfolio securities may cause the Fund to incur additional
costs including brokerage costs and taxable capital gains or losses that the Fund may not have incurred if the Fund had made redemptions
in-kind. These costs could be imposed on the Fund, and thus, decrease the Fund’s net asset value to the extent the costs
are not offset by a transaction fee table by an authorized participant.</td></tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignInvestmentRiskMember_z0PW7ENmUCrf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Foreign Investment Risk. </i>The Fund
may invest in securities domiciled in countries outside the U.S. that may experience more rapid and extreme changes in value than
a fund that invests exclusively in securities of U.S. companies. These companies may be subject to additional risks, including
political and economic risks, civil conflicts and war, greater volatility, expropriation and nationalization risks, currency fluctuations,
higher transaction costs, delayed settlement, and less stringent investor protection and disclosure standards than those of U.S.
markets.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--HighYieldFixedIncomeSecuritiesRiskMember_zu20SW9Ffd62" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>High Yield Fixed Income Securities Risk</i>.
Fixed income securities in a closed-end fund that are rated below investment grade (i.e., “high yield fixed income securities”
or “junk bonds”) are subject to additional risk factors such as increased possibility of default liquidation of the
security, and changes in value based on public perception of the issuer. High yield fixed income securities are considered primarily
speculative with respect to the issuer’s continuing ability to make principal and interest payments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_zdmzTaSbYgsh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Management Risk</i>. The Adviser’s
dependence on its judgments about the attractiveness, value and potential appreciation of derivatives in which the Fund invests
may prove to be incorrect and may not produce the desired results.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zoe8XVlh7qPk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Market and Geopolitical Risk</i>. The
increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions
in one region or financial market may adversely impact issuers in a different country, region or financial market. Investments
in the Fund’s portfolios may underperform due to inflation (or expectations for inflation), interest rates, global demand
for particular products or resources, natural disasters, pandemics, epidemics, terrorism, tariffs and trade wars, international
conflicts, regulatory events and governmental or quasi-governmental actions. The occurrence of global events similar to those in
recent years may result in market volatility and may have long term effects on both the U.S. and global financial markets.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MoneyMarketFundRiskMember_zTaTMDKJddU6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Money Market Fund Risk</i>. The Fund
may invest in money market funds in order to manage its cash component. An investment in a money market fund is not insured or
guaranteed by a Federal Deposit Insurance Corporation or any other government agency. Although such funds seek to preserve the
value of the Fund’s investment at $1.00 per share, it is possible to lose money by investing in a money market fund. The
Fund may invest in an affiliated money market fund. The Adviser, therefore, is subject to conflicts of interest in allocating the
Fund’s assets to the affiliated fund because it will receive more revenue to the extent it selects the affiliated fund rather
than an unaffiliated fund for inclusion in the Fund’s portfolio.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MortgagebackedAndAssetbackedSecuritiesRiskMember_zkBsVVVHiW99" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Mortgage-Backed and Asset-Backed Securities
Risk</i>. Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations
that represent interests in pools of mortgages or other income-bearing assets, such as residential mortgage loans, home equity
loans, mortgages on commercial buildings, consumer loans and equipment leases. While such securities are subject to the risks
associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also
subject to other and different risks. Mortgage-backed and other asset-backed securities are subject to changes in the payment
patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and an underlying fund’s
net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity.
This may result in an underlying fund having to reinvest the proceeds in lower yielding securities, effectively reducing an underlying
fund’s income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in
which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing an underlying fund’s
cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying
borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and
be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar
risks, as well as additional risks associated with the assets underlying those securities.</p>
<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"></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--Section351RiskMember_zAsHQKdRPJl8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Section 351 Risk</i>. The initial
capital raised from investors is expected to include some in-kind contributions of securities from current investors in the investment
strategy followed by the Fund in exchange for the Fund’s shares. In-kind contributions may qualify for non-recognition treatment
to the contributing parties under Section 351 of the Internal Revenue Code, assuming that the requirements of Section 351 are met,
which would have corresponding consequences for the tax basis to the Fund in those contributed securities. There can be no assurances
regarding the value or tax basis of the contributions in kind, which could result in a negative effect on after-tax returns to
investors seeding the Fund, and/or other investors in the Fund. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundRiskMember_zucM5aWUDU1h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Underlying Fund Risk.</i> Underlying
investment companies 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. Investing in underlying funds exposes the Fund
to the investment performance and risks of the investment companies. Each of the ETFs is subject to its own specific risks, but
the adviser expects the principal investments risks of such ETFs will be similar to the risks of investing in the Fund.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--USGovernmentSecuritiesRiskMember_zGAdZ8dV2Flg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>U.S. Government Securities Risk.</i>
It is possible that the U.S. Government would not provide financial support to its agencies or instrumentalities if it is not required
to do so by law. If a U.S. Government agency or instrumentality in which the Fund invests defaults, and the U.S. Government does
not stand behind the obligation, the Fund’s share price or yield could fall. Securities of certain U.S. Government sponsored
entities, such as Freddie Mac or Fannie Mae, are neither issued nor guaranteed by the U.S. Government.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
Performance:
<p id="xdx_A8D_eoef--PerformanceNarrativeTextBlock_zLMXFVtvkbR3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_907_eoef--PerformanceOneYearOrLess_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_zk3bR3FWb5Z">Since the Fund has
not yet launched, the performance section is omitted.</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_90D_eoef--PerformanceAvailabilityPhone_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_zzEOvXmNlOBh">1-888-783-8637</span> and may also be available
at <span id="xdx_903_eoef--PerformanceAvailabilityWebSiteAddress_c20260828__20260828__dei--LegalEntityAxis__custom--S000108117Member_ziPU5G86hzHb">www.rareviewcapital.com</span>.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
Since the Fund has
not yet launched, the performance section is omitted.
1-888-783-8637
www.rareviewcapital.com