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0001484018 genter:BloombergIntermediateUSGovernmentCreditIndexMember 2024-05-21 2025-12-31 iso4217:USD pure false 485BPOS 0001484018 2026-08-31 N-1A Spinnaker ETF Series 2026-09-01 Genter Capital Dividend Income ETF Investment Objective Genter Capital Dividend Income ETF (the “Fund”) seeks current income and long-term capital appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares. Investors purchasing or selling Shares in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. These costs are not included in the fee table or expense example below. <div id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_zrQYOJnCohLj"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5F_dU_zZcDs8dJOsJ6" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top; background-color: black"> <td colspan="2" style="border: black 1pt solid;"><p id="xdx_98C_eoef--OperatingExpensesCaption_c20260831__20260831__dei--LegalEntityAxis__custom--S000089486Member_gBFOEC-AL_z6vmtPBUQeOg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: justify">Annual Fund Operating Expenses  (expenses that you pay each year as a percentage of the value of your investment)</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;width: 77%; font-size: 10pt; padding-left: 0.05in">Management Fees</td> <td id="xdx_987_eoef--ManagementFeesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000256067Member_zVJcBFGe7vKj" style="border-right: black 1pt solid; border-bottom: black 1pt solid;width: 23%; font-size: 10pt; text-align: center">0.20%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;font-size: 10pt; padding-left: 0.05in">Other Expenses</td> <td id="xdx_98A_eoef--OtherExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000256067Member_zyLL5icMYjHf" style="border-right: black 1pt solid; border-bottom: black 1pt solid;font-size: 10pt; text-align: center">0.18%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;font-size: 10pt; padding-left: 0.05in">Total Annual Fund Operating Expenses</td> <td id="xdx_988_eoef--ExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000256067Member_zq37gzVaZKx1" style="border-right: black 1pt solid; border-bottom: black 1pt solid;font-size: 10pt; text-align: center">0.38%</td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0020 0.0018 0.0038 Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell (or you hold) all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and 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_zsFejGfPKIzl"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5E_dU_zgBLwudTAONb" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 90%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: black"> <td id="xdx_483_eoef--ExpenseExampleYear01_z5RpeNP99ifd" style="border: black 1pt solid; width: 28%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">1 Year</td> <td id="xdx_487_eoef--ExpenseExampleYear03_zYvKV3uN6NRe" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">3 Years</td> <td id="xdx_48E_eoef--ExpenseExampleYear05_zMkKhRnUBvIa" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">5 Years</td> <td id="xdx_487_eoef--ExpenseExampleYear10_zxMK4iJAzYAf" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">10 Years</td></tr> <tr id="xdx_414_20260831__20260831__oef--ClassAxis__custom--C000256067Member_z0yQtpHuElu8"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">$39</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">$122</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">$213</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; text-align: center">$480</td></tr> </table> 39 122 213 480 Portfolio Turnover. The Fund may pay 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 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 portfolio turnover rate was 9.34%. 0.0934 Principal Investment Strategies Under normal market conditions, the Fund will invest at least 80% of its assets plus borrowings for investment purposes in domestic equity securities that have records of paying dividends. The Fund will invest primarily in companies with market capitalizations of $2 billion or higher at the time of initial purchase. In addition, the Fund will invest in a diversified portfolio of 25 to 50 securities typically spread across many economic sectors. Investments in and weightings of individual sectors will vary based on the Fund’s investment sub-advisor’s, RNC Capital Management, LLC d/b/a Genter Capital Management (“Genter Capital” or the “Sub-Advisor”) assessment of valuation and the economic outlook using the process described below. Examples of conditions that will affect the weighting of sectors include recent relative performance of each sector to the overall market performance, economic conditions such as inflation and economic growth and expectations of economic growth in the upcoming period of time and how that sector might be affected more or less than other sectors, and economic growth rate and geopolitical conditions, military conflicts which can typically affect availability and demand for natural resources that can have impact on one or more sectors relative to other sectors of the overall market economy. For example, the price of oil has a significant impact on the transportation sector, which can in turn have a significant impact on consumer goods and raw materials being transported. Another example which can have a significant impact on one or more sectors is tariffs. Tariffs imposed on either a country or a particular industry will increase the price and may reduce the supply as well. A tariff on consumer goods imported from China would impact retailers where those imported goods are sold. The Sub-Advisor employs a three-step process in selecting the Fund’s investments. The Sub-Advisor begins with a universe of domestic publicly traded companies that have paid a dividend in each of the previous four quarters. First, the Sub-Advisor uses publicly available filings, financial analyst’s reports and research information available both publicly and by subscription or purchase to identify companies that have 1) tax-advantaged dividend payments which qualify for tax treatment as capital gains tax rates versus ordinary income tax rates, which will allow the Fund shareholder to recognize that portion of the Fund income dividend as receipt of capital gain, a lower tax rate than ordinary income dividends, 2) market capitalizations greater than $2 billion, 3) dividend per share increase of any amount versus prior quarter and 4) investment grade debt ratings. Second, a thorough fundamental analysis of the companies is conducted focusing on valuation and balance sheet and income statement information. Lastly, the four characteristics identified in the first step are evaluated further to assess the likelihood of capital appreciation, and to assess the expected volatility and risk for each security. The Sub-Advisor will sell a security when one or more of the following occurs: <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">1)</td><td style="text-align: justify">the security’s price target is realized;</td></tr></table> <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">2)</td><td style="text-align: justify">an individual holding exceeds 5% of the portfolio;</td></tr></table> <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">3)</td><td style="text-align: justify">dividend payment falls below acquisition parameters;</td></tr></table> <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">4)</td><td style="text-align: justify">the company’s underlying debt rating falls below investment grade;</td></tr></table> <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">5)</td><td style="text-align: justify">sector rebalancing;</td></tr></table> <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">6)</td><td style="text-align: justify">payout ratio (proportion of a company’s earnings that is paid out to shareholders) exceeds proprietary forecasts of long-term sustainable earnings and free cash flow;</td></tr></table> <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">7)</td><td style="text-align: justify">a fundamental development weakens a company’s balance sheet or earnings potential (such as a rating agency downgrade of the debt held by a portfolio company to below investment grade); or</td></tr></table> <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">8)</td><td style="text-align: justify">the Fund requires cash to meet redemption requests.</td></tr></table> The Sub-Advisor will also sell call option contracts, that are based on the value of underlying securities held by the Fund, to generate income via option premiums. The Sub-Advisor sells call option contracts on securities held by the Fund with strike prices ranging from 0-15% above the then current price of the security against which the option is written. Calls will be written when the Sub-Advisor feels the underlying stock has a price at the time the call is written that is in line with other stocks in its sector and, in the Sub-Advisor’s view, is unlikely to appreciate more than the strike price of the written call prior to the call’s expiration, but the Sub-Advisor is not prepared to remove the position from the Fund portfolio. By doing so, the Fund gives up the potential to fully participate in the underlying security gains, if any, beyond the strike price of the sold call options in exchange for income received in the form of call option premium. If the price of the underlying security is less than the call option’s strike price at the expiration of the contract, the option contract will expire worthless and the Fund’s return on the sold call position will be the premium originally received for selling the option contract. If the price of the underlying security is greater than the strike price at the expiration of the option contract, the Fund will typically forgo all of the returns that exceed the strike price of the option contract, and there will be a cost to “close out” the now in-the-money call options. The short call options are “closed out” (repurchased) prior to their expiration so that the Fund will not get assigned the, now, in-the-money call options. A call option is “in-the-money” when the price of the underlying reference asset (i.e., stock) is higher than the strike price of the call option. At times the call options may be “rolled” instead of simply closed. The term “rolled” means new call options are simultaneously sold to open a new short call position, while the previously sold calls are repurchased to close out the original short call position. As an actively managed ETF that does not seek to replicate the performance of a specified index, the Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. Under normal market conditions, the Fund will invest at least 80% of its assets plus borrowings for investment purposes in domestic equity securities that have records of paying dividends. The loss of your money is a principal risk of investing in the Fund. Equity Securities Risk. Investments in equity securities may fluctuate in value response to many factors, including general market and economic conditions, interest rates, and specific industry changes. Such price fluctuations subject the Fund to potential losses. During temporary or extended bear markets, the value of equity securities will decline, which could also result in losses for the Fund. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from issuers. Small- and Mid-Cap Securities Risk. Securities of small and medium sized companies are often less liquid than those of large companies and this could make it difficult to sell a small or medium sized company security at a desired time or price. The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium 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 and may have limited markets, product lines, or financial resources and lack management experience. Risks from Selling or Writing Call Options. Writing option contracts can result in losses that exceed the Fund’s initial investment and may lead to additional turnover and higher tax liability. The risk involved in writing a call option is that there could be an increase in the market value of the security. If this occurred, the option could be exercised and the underlying security would then be sold by the Fund at a lower price than its current market value or in the case of cash settled options, the Fund would be required to purchase the option at a price that is higher than the original sales price for such option. Similarly, while writing call options can reduce the risk of owning stocks, such a strategy limits the opportunity of the Fund to profit from an increase in the market value of stocks in exchange for up-front cash at the time of selling the call option. Dividend Payment Risk. As a group, securities that pay high dividends may fall out of favor with investors and underperform companies that do not pay high dividends. Also, changes in the dividend policies of such companies and the capital resources available for such companies’ dividend payments may affect the Fund. 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. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may be worse than the market return of other investment strategies or the overall stock market. High-dividend stocks may not experience high earnings growth or capital appreciation. The Fund’s performance during a broad market advance could suffer because dividend paying stocks may not experience the same capital appreciation as non-dividend paying stock. Market Risk. Market risk refers to the possibility that the value of securities held by the Fund may decline due to daily fluctuations in the market. Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in general. The price of a security may even be affected by factors unrelated to the value or condition of its issuer, including changes in interest rates, economic and political conditions, and general market conditions. The Fund’s performance per share will change daily in response to such factors. Authorized Participant Risk. Only an authorized participant (“Authorized Participant” or “AP”) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). Authorized Participant concentration risk may be heightened for exchange-traded funds (ETFs), such as the Fund, that invest in securities issued by non-U.S. issuers or other securities or instruments that have lower trading volumes. ETF Structure Risks. The Fund is structured as an ETF and as a result is subject to certain risks, including: <div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_zJoBY7qPeNg2"></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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Not Individually Redeemable. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known as “Creation Units”, which are only available to Authorized Participants. Retail investors may only purchase or sell shares on the Exchange. You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</td></tr></table> <div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zy9aa22aGMYk"></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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Trading Issues. An active trading market for the Shares may not be developed or maintained. 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. 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> <div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashPurchasesMember_zhfNH06a8Xq8"></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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Cash Purchases. To the extent Creation Units are purchased or sold by APs in cash instead of in-kind, the Fund will incur certain costs such as brokerage expenses and taxable gains and losses. These costs could be imposed on the Fund and impact the Fund’s NAV if not fully offset by transaction fees paid by the APs.</td></tr></table> <div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_z6f4FlZggMMk"></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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Market Price Variance Risk. 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top"> <td style="width: 27.35pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27.35pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">To the extent Authorized Participants exit the business or are unable to process creations or redemptions and no other Authorized Participant can step in to do so, there may be a significantly reduced trading market in the Shares, which can lead to differences between the market value of Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27.35pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">The market price for the 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 receive significantly less for Shares than the Fund's net asset value, which is reflected in the bid and ask price for Shares or in the closing price.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27.35pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">When all or a portion of an ETFs underlying securities trade in a market that is closed when the market for the 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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27.35pt"></td><td style="width: 20pt; text-align: left">■</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 net asset value.</td> </tr></table> Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. In managing the Fund’s portfolio securities, the Sub-Advisor will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. The portfolio managers’ judgments about the attractiveness, income potential, 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 portfolio managers’ judgment will produce the desired results. The portfolio managers may rely on poorly chosen, ineffective investment techniques or risk analysis, and they may apply poor judgement to otherwise effective investment and analysis methods. Investors may lose money as a result. Limited History of Operations Risk. The Fund has a limited history of operations. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such a liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation. Investment Risk. An investment in shares is subject to investment risk, including the possible loss of the entire principal amount invested. An investment in shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The value of your shares at any point in time may be worth less than the value of your original investment. All investments involve risks, including the risk that the entire amount invested may be lost. No guarantee or representation is made that the Fund’s investment objectives will be achieved. Any real or perceived adverse economic changes, local, regional or global events such as war, acts of terrorism, disasters, trade disputes, disputes with specific countries that could result in additional tariffs, trade barriers and/or investment restrictions in certain securities of those countries, the spread of infectious illness or other public health issues, recessions, raising of interest rates, or other events, could have a material adverse impact on the Fund or its investments. Any of these conditions can adversely affect the economic prospects of many companies, sectors, nations, regions and the market in general, in ways that cannot necessarily be foreseen. Moreover, changes in these and other areas present uncertainty and risk with respect to the Fund’s NAV, performance, financial condition, results of operations, ability to pay distributions, and portfolio liquidity, among other factors. Economic problems in a single country are increasingly affecting other markets and economies, and a continuation of this trend could adversely affect global economic conditions and world markets. Uncertainty and volatility in the financial markets and political systems of the U.S. or any other country, including volatility as a result of the ongoing conflicts between Russia and Ukraine and Israel and Hamas and the rapidly evolving measures in response, may have adverse spill-over effects into the global financial markets generally. Early Close/Trading Halt Risk. The Fund’s investments in equity securities are subject to the risk that 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. Cybersecurity Risk. With the increased use of technologies such as the internet to conduct business, the Fund, like all companies, may be susceptible to operational, information security, and related risks. As part of its business, the Sub-Advisor processes, stores, and transmits large amounts of electronic information, including information relating to the transactions of the Fund. The Fund and its service providers are therefore susceptible to cybersecurity risk. Cybersecurity failures or breaches of the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, the inability of Fund shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, and/or reputational damage. The Fund and its shareholders could be negatively impacted as a result. Fund Performance Because the Fund does not have performance history for a full calendar year, no Fund performance information is shown. Performance information for the Fund will be provided once it has annual returns for a full calendar year. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information may be obtained by visiting www.genterfunds.com/GEND. Because the Fund does not have performance history for a full calendar year, no Fund performance information is shown. Performance information for the Fund will be provided once it has annual returns for a full calendar year. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.genterfunds.com/GEND Genter Capital International Dividend ETF Investment Objective Genter Capital International Dividend ETF’s investment objective is to seek current income and long-term capital appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares. Investors purchasing or selling Shares in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. These costs are not included in the fee table or expense example below. <div id="xdx_A8A_eoef--AnnualFundOperatingExpensesTableTextBlock_ztwpBSDf3EFa"></div> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_z4w55A7yu3F1" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top; background-color: black"> <td colspan="2" style="border: black 1pt solid;padding-right: 5pt; padding-left: 5pt"><p id="xdx_986_eoef--OperatingExpensesCaption_c20260831__20260831__dei--LegalEntityAxis__custom--S000089487Member_gBFOEC-FNN_z8M4AGlDMfK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Annual Fund Operating Expenses  (expenses that you pay each year as a percentage of the value of your investment)</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;width: 77%; font-size: 10pt; padding-right: 5pt; padding-left: 5pt">Management Fees</td> <td id="xdx_988_eoef--ManagementFeesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000256068Member_zqNQG2Tl7VKh" style="border-right: black 1pt solid; border-bottom: black 1pt solid;width: 23%; font-size: 10pt; text-align: center; padding-right: 5pt; padding-left: 5pt">0.20%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;font-size: 10pt; padding-right: 5pt; padding-left: 5pt">Other Expenses</td> <td id="xdx_985_eoef--OtherExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000256068Member_zneoAeYTP7Cj" style="border-right: black 1pt solid; border-bottom: black 1pt solid;font-size: 10pt; text-align: center; padding-right: 5pt; padding-left: 5pt">0.18%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;font-size: 10pt; padding-right: 5pt; padding-left: 5pt">Total Annual Fund Operating Expenses</td> <td id="xdx_981_eoef--ExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000256068Member_zsJHOZpE5tw7" style="border-right: black 1pt solid; border-bottom: black 1pt solid;font-size: 10pt; text-align: center; padding-right: 5pt; padding-left: 5pt">0.38%</td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0020 0.0018 0.0038 Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell (or you hold) all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and 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_A83_eoef--ExpenseExampleWithRedemptionTableTextBlock_zrnPUIDclkuj"></div> <table cellpadding="0" cellspacing="0" id="xdx_A53_dU_zeWnydygOWFk" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: black"> <td id="xdx_486_eoef--ExpenseExampleYear01_zvvqoIYW9ccf" style="border: black 1pt solid; width: 28%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">1 Year</td> <td id="xdx_48D_eoef--ExpenseExampleYear03_z5u3xtPRSJw7" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">3 Years</td> <td id="xdx_488_eoef--ExpenseExampleYear05_zsMo6oaN5wcc" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">5 Years</td> <td id="xdx_487_eoef--ExpenseExampleYear10_zepmatmerw08" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">10 Years</td></tr> <tr id="xdx_41A_20260831__20260831__oef--ClassAxis__custom--C000256068Member_zq1b0dipV1kd"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$39</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$122</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$213</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$480</td></tr> </table> 39 122 213 480 Portfolio turnover. The Fund may pay 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 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 portfolio turnover rate was 2.39%. 0.0239 Principal Investment Strategies Under normal market conditions, the Fund will invest at least 80% of its assets plus borrowings for investment purposes in foreign equity securities that have records of paying dividends. The Fund will invest primarily in companies with market capitalizations of $2 billion or higher at the time of initial purchase. In addition, the Fund will invest in a diversified portfolio of 25 to 50 securities typically spread across many economic sectors. Investments in and weightings of individual sectors will vary based on the Fund’s investment sub-advisor’s, RNC Capital Management, LLC d/b/a Genter Capital Management (“Genter Capital” or the “Sub-Advisor”) assessment of valuation and the economic outlook using the process described below. Examples of conditions that will affect the weighting of sectors include recent relative performance of each sector to the overall market performance, economic conditions such as inflation and economic growth and expectations of economic growth in the upcoming period of time and how that sector might be affected more or less than other sectors, and economic growth rate and geopolitical conditions, military conflicts which can and typically affect availability and demand for natural resources that can have impact on one or more sectors relative to other sectors of the overall market economy. For example, the price of oil has a significant impact on the transportation sector, which can in turn have a significant impact on consumer goods and raw materials being transported. Another example which can have a significant impact on one or more sectors is tariffs. Tariffs imposed on either a country or a particular industry will increase the price and may reduce the supply as well. A tariff on consumer goods imported from China would impact retailers where those imported goods are sold. The Fund defines foreign equity securities as equity securities of companies organized or having their principal place of business (location where they are subject to revenue tax) outside the U.S. The Fund’s investments in foreign securities will primarily be in American Depository Receipts (“ADRs”), which are receipts that represent interests in foreign securities held on deposit by U.S. banks. The Fund may also invest up to 20% of its assets in domestic equity securities that have records of paying dividends and derive more than 30% of revenues from non-U.S. operations. The Sub-Advisor employs a three-step process in selecting the Fund’s investments. The Sub-Advisor begins with a universe of those foreign publicly traded companies and domestic equity securities that derive more than 30% of revenues from non-U.S. operations that have paid a dividend in each of the previous four quarters. First, the Sub-Advisor uses publicly available filings, financial analyst’s reports and research information available both publicly and by subscription or purchase to identify companies that have 1) market capitalizations greater than $2 billion, 2) dividend growth, which the Sub-Advisor defines as no quarters among the previous four with any dividend reduction and at least one of the most recent two quarters having a dividend increase, and 3) investment grade debt ratings. Second, a thorough fundamental analysis of the companies is conducted focusing on valuation and balance sheet and income statement information. Lastly, the three characteristics identified in the first step are evaluated further to view the dividend yield, assessment of likelihood of capital appreciation, and to assess the expected volatility and risk for each security. The Sub-Advisor will sell a security when one or more of the following occurs: <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">1)</td><td style="text-align: justify">the security’s dividend is reduced by more than 10% in dividend per share over the preceding eight quarters;</td></tr></table> <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">2)</td><td style="text-align: justify">the yield falls by more than 10% below targeted parameters and available alternate options in the Fund’s universe of investments in less than a three-year period;</td></tr></table> <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">3)</td><td style="text-align: justify">one or more actual or projected financial metrics over the previous two-year period or analyst projections for the coming two-year period show or project a flat or negative growth of the company’s income which cannot be readily identified as a temporary or non-recurring change;</td></tr></table> <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">4)</td><td style="text-align: justify">the company’s underlying debt rating falls below investment grade;</td></tr></table> <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">5)</td><td style="text-align: justify">its price target is realized; or</td></tr></table> <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">6)</td><td style="text-align: justify">the Fund requires cash to meet redemption requests.</td></tr></table> As an actively managed ETF that does not seek to replicate the performance of a specified index, the Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. From time to time the Fund may focus its investments in one or more particular sectors. As of April 30, 2026, the Fund focused its investments in the Financials sector. Under normal market conditions, the Fund will invest at least 80% of its assets plus borrowings for investment purposes in foreign equity securities that have records of paying dividends. The loss of your money is a principal risk of investing in the Fund. Equity Securities Risk. Investments in equity securities may fluctuate in value response to many factors, including general market and economic conditions, interest rates, and specific industry changes. Such price fluctuations subject the Fund to potential losses. During temporary or extended bear markets, the value of equity securities will decline, which could also result in losses for the Fund. Common stocks are generally exposed to greater risk than other types of securities, such as preferred stock and debt obligations, because common stockholders generally have inferior rights to receive payment from issuers. Small- and Mid-Cap Securities Risk. Securities of small and medium sized companies are often less liquid than those of large companies and this could make it difficult to sell a small or medium sized company security at a desired time or price. The The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium 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 and may have limited markets, product lines, or financial resources and lack management experience. Foreign Securities Risk. Foreign securities have investment risks different from those associated with domestic securities. The value of foreign investments (including investments in ADRs) may be affected by the value of the local currency relative to the U.S. dollar, changes in exchange control regulations, application of foreign tax laws, changes in governmental economic or monetary policy, or changed circumstances in dealings between nations. There may be less government supervision of foreign markets, resulting in non-uniform accounting practices and less publicly available information about issuers of foreign securities. Foreign brokerage commissions, custody fees, and other costs of investing in foreign securities are often higher than in the United States. Investments in foreign issues could be affected by other factors not present in the United States, including expropriation, armed conflict, confiscatory taxation, and potential difficulties in enforcing contractual obligations. <div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--AdrsRiskMember_zd1MizkliKU2"></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">●</td><td style="text-align: justify">ADRs Risk. ADRs may be subject to some of the same risks as those described above for investments in foreign securities. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through.</td></tr></table> Dividend Payment Risk. As a group, securities that pay high dividends may fall out of favor with investors and underperform companies that do not pay high dividends. Also, changes in the dividend policies of such companies and the capital resources available for such companies' dividend payments may affect the Fund. 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. Past dividend payments are not a guarantee of future dividend payments. Also, the market return of high dividend yield securities, in certain market conditions, may be worse than the market return of other investment strategies or the overall stock market. High-dividend stocks may not experience high earnings growth or capital appreciation. The Fund’s performance during a broad market advance could suffer because dividend paying stocks may not experience the same capital appreciation as non-dividend paying stock. Market Risk. Market risk refers to the possibility that the value of securities held by the Fund may decline due to daily fluctuations in the market. Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in general. The price of a security may even be affected by factors unrelated to the value or condition of its issuer, including changes in interest rates, economic and political conditions, and general market conditions. The Fund’s performance per share will change daily in response to such factors. Authorized Participant Risk. Only an authorized participant (“Authorized Participant” or “AP”) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). Authorized Participant concentration risk may be heightened for exchange-traded funds (ETFs), such as the Fund, that invest in securities issued by non-U.S. issuers or other securities or instruments that have lower trading volumes. ETF Structure Risks. The Fund is structured as an ETF and as a result is subject to certain risks, including: <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Not Individually Redeemable. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known as “Creation Units”, which are only available to Authorized Participants. Retail investors may only purchase or sell shares on the Exchange. You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</td></tr></table> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Trading Issues. An active trading market for the Shares may not be developed or maintained. 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. 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> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Cash Purchases. To the extent Creation Units are purchased or sold by APs in cash instead of in-kind, the Fund will incur certain costs such as brokerage expenses and taxable gains and losses. These costs could be imposed on the Fund and impact the Fund’s NAV if not fully offset by transaction fees paid by the APs.</td></tr></table> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Market Price Variance Risk. 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">To the extent Authorized Participants exit the business or are unable to process creations or redemptions and no other Authorized Participant can step in to do so, there may be a significantly reduced trading market in the Shares, which can lead to differences between the market value of Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">The market price for the 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 receive significantly less for Shares than the Fund's net asset value, which is reflected in the bid and ask price for Shares or in the closing price.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">When all or a portion of an ETFs underlying securities trade in a market that is closed when the market for the 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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</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 net asset value.</td> </tr></table> Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. In managing the Fund’s portfolio securities, the Sub-Advisor will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. The portfolio managers’ judgments about the attractiveness, income potential, 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 portfolio managers’ judgment will produce the desired results. The portfolio managers may rely on poorly chosen, ineffective investment techniques or risk analysis, and they may apply poor judgement to otherwise effective investment and analysis methods. Investors may lose money as a result. Sector Focus Risk. Because the Fund’s investments may, from time to time, be more heavily invested in particular sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Fund’s share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of industries. The specific risks for each of the sectors in which the Fund may focus its investments include the additional risks described below: <div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialsMember_zU0sNM2x1EW6"></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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Financials. Companies engaged in banking, financial services, consumer finance, capital markets, and insurance activities, as well as mortgage real estate investment trusts (“REITs”) are subject to risks including extensive governmental regulation; decreased profits resulting from changes in interest rates and loan losses, which usually increase in economic downturns; severe price competition; and increased inter-industry consolidation and competition; all of which may adversely affect the value of those holdings. Companies in the financials sector have also been affected by increased competition, which could adversely affect the profitability or viability of such companies. Although regulators have focused on and taken measures to stabilize the financial system, bank failures and liquidity concerns continue to impact companies in the banking and financial services industries. Further regulatory intervention may be required to stabilize the U.S. banking industry if U.S. banks appear to be at a risk of failure, which could result in other unforeseen adverse impacts on the economy.</td></tr></table> Limited History of Operations Risk. The Fund has a limited history of operations. Accordingly, investors in the Fund bear the risk that the Fund may not be successful in implementing its investment strategy, may not employ a successful investment strategy, or may fail to attract sufficient assets under management to realize economies of scale, any of which could result in the Fund being liquidated at any time without shareholder approval and at a time that may not be favorable for all shareholders. Such a liquidation could have negative tax consequences for shareholders and will cause shareholders to incur expenses of liquidation. Investment Risk. An investment in shares is subject to investment risk, including the possible loss of the entire principal amount invested. An investment in shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The value of your shares at any point in time may be worth less than the value of your original investment. All investments involve risks, including the risk that the entire amount invested may be lost. No guarantee or representation is made that the Fund’s investment objectives will be achieved. Any real or perceived adverse economic changes, local, regional or global events such as war, acts of terrorism, disasters, trade disputes, disputes with specific countries that could result in additional tariffs, trade barriers and/or investment restrictions in certain securities of those countries, the spread of infectious illness or other public health issues, recessions, raising of interest rates, or other events, could have a material adverse impact on the Fund or its investments. Any of these conditions can adversely affect the economic prospects of many companies, sectors, nations, regions and the market in general, in ways that cannot necessarily be foreseen. Moreover, changes in these and other areas present uncertainty and risk with respect to the Fund’s NAV, performance, financial condition, results of operations, ability to pay distributions, and portfolio liquidity, among other factors. Economic problems in a single country are increasingly affecting other markets and economies, and a continuation of this trend could adversely affect global economic conditions and world markets. Uncertainty and volatility in the financial markets and political systems of the U.S. or any other country, including volatility as a result of the ongoing conflicts between Russia and Ukraine and Israel and Hamas and the rapidly evolving measures in response, may have adverse spill-over effects into the global financial markets generally. Early Close/Trading Halt Risk. The Fund’s investments in equity securities are subject to the risk that 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. The risk is heightened for the foreign securities that underly the ADRs in which the Fund invests because foreign markets are generally subject to more disruptions than domestic exchanges. Cybersecurity Risk. With the increased use of technologies such as the internet to conduct business, the Fund, like all companies, may be susceptible to operational, information security, and related risks. As part of its business, the Sub-Advisor processes, stores, and transmits large amounts of electronic information, including information relating to the transactions of the Fund. The Fund and its service providers are therefore susceptible to cybersecurity risk. Cybersecurity failures or breaches of the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, the inability of Fund shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, and/or reputational damage. The Fund and its shareholders could be negatively impacted as a result. Fund Performance Because the Fund has not been in operation for an entire calendar year, no Fund performance information is shown. You may request a copy of the Fund’s annual and semi-annual reports and financial statements, at no charge by calling the Fund at 1-800-773-3863. Updated performance information on the Fund’s results can be obtained by visiting www.genterfunds.com/GENW. Because the Fund has not been in operation for an entire calendar year, no Fund performance information is shown. 1-800-773-3863 www.genterfunds.com/GENW Genter Capital Municipal Quality Intermediate ETF Investment Objective Genter Capital Municipal Quality Intermediate ETF (the “Fund”) seeks current income free from federal income tax with a secondary objective of capital appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares. Investors purchasing or selling Shares in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. These costs are not included in the fee table or expense example below. <div id="xdx_A8F_eoef--AnnualFundOperatingExpensesTableTextBlock_zBS3MUB8H72l"></div> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_zswAF9mUnG3h" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top; background-color: black"> <td colspan="2" style="border: black 1pt solid;"><p id="xdx_986_eoef--OperatingExpensesCaption_c20260831__20260831__dei--LegalEntityAxis__custom--S000084933Member_gBFOEC-NA_zohDCc9xXGr" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: justify">Annual Fund Operating Expenses  (expenses that you pay each year as a percentage of the value of your investment)</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;width: 77%; padding-left: 0.05in">Management Fees</td> <td id="xdx_98D_eoef--ManagementFeesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249690Member_zLfwPHoByWxi" style="border-right: black 1pt solid; border-bottom: black 1pt solid;width: 23%; text-align: center">0.20%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;padding-left: 0.05in">Other Expenses</td> <td id="xdx_986_eoef--OtherExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249690Member_z6T7gZH3aJN4" style="border-right: black 1pt solid; border-bottom: black 1pt solid;text-align: center">0.18%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;padding-left: 0.05in">Acquired Fund Fees and Expenses1</td> <td id="xdx_98B_eoef--AcquiredFundFeesAndExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249690Member_fMQ_____zYvuKYjmETq7" style="border-right: black 1pt solid; border-bottom: black 1pt solid;text-align: center">0.01%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;padding-left: 0.05in">Total Annual Fund Operating Expenses</td> <td id="xdx_98B_eoef--ExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249690Member_zpBINYB9aTg" style="border-right: black 1pt solid; border-bottom: black 1pt solid;text-align: center">0.39%</td></tr> </table> <table border="0" 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="text-align: justify">1.</td> <td style="text-align: justify">“Acquired Fund Fees and Expenses” are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial statements, once available, because the financial statements include only the direct operating expenses incurred by the Fund.</td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0020 0.0018 0.0001 0.0039 The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial statements, once available, because the financial statements include only the direct operating expenses incurred by the Fund. Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell (or you hold) all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and 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_A87_eoef--ExpenseExampleWithRedemptionTableTextBlock_zSDIY9bUIjRg"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zC8WMI10yPrg" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: black"> <td id="xdx_48B_eoef--ExpenseExampleYear01_zd7N9aoeqPpc" style="border: black 1pt solid; width: 28%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">1 Year</td> <td id="xdx_485_eoef--ExpenseExampleYear03_zCWGrGLa0Gyh" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">3 Years</td> <td id="xdx_485_eoef--ExpenseExampleYear05_zZX67A70hY4h" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">5 Years</td> <td id="xdx_484_eoef--ExpenseExampleYear10_zPQQnzpo7stb" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">10 Years</td></tr> <tr id="xdx_414_20260831__20260831__oef--ClassAxis__custom--C000249690Member_z86dbIfj2qsg"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$40</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$125</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$219</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$493</td></tr> </table> 40 125 219 493 Portfolio turnover. The Fund may pay 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 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 portfolio turnover rate was 47.79%. 0.4779 Principal Investment Strategies The Fund is actively managed and will not seek to replicate the performance of an index. Under normal market conditions, the Fund invests at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. While these securities will be exempt from federal income taxes, a significant portion of these securities could be subject to the alternative minimum tax. The Fund normally invests in municipal obligations rated A or higher by S&P Global Ratings (“S&P”), Fitch Ratings (“Fitch”) or Moody’s Investors Service, Inc. (“Moody’s”)) or, if unrated, determined by the Fund’s investment sub-advisor’s, RNC Capital Management, LLC d/b/a Genter Capital Management (“Genter Capital” or the “Sub-Advisor”) to be of comparable quality at the time of purchase. The Fund may invest up to 30% of its net assets in municipal obligations rated BBB by S&P, Fitch or Moody’s or, if unrated, determined by the Sub-Advisor to be of comparable quality. For purposes of rating restrictions, if securities are rated differently by two or more rating agencies, the highest rating is used. The Fund may continue to hold securities that are downgraded (including bonds downgraded to below investment grade credit quality (“junk bonds”)) if the Sub-Advisor believes it would be advantageous to the Fund to do so. With respect to its investments in municipal obligations, the Fund invests primarily in general obligation or revenue bonds. General obligation bonds are backed by the general revenue of the issuing municipality, while revenue bonds are supported by a specific revenue source, such as income from a toll road or sewer system. The Fund currently targets an average portfolio duration of approximately 2 to 4.5 years and an average weighted portfolio maturity of approximately 3 to 6 years but may invest in securities of any maturity or duration and may in the future alter its maturity or duration target range. The Fund may use various techniques to shorten or lengthen its dollar-weighted average portfolio duration, including the acquisition of municipal obligations at a premium or discount. A premium municipal obligation is priced above the stated face value of the municipal obligation (also known as par). During periods of rising interest rates, municipal obligations may be offered and traded at a “discount,” which is when the municipal obligation is priced below par. The portfolio managers will generally seek to enhance after-tax total return by actively engaging in relative value trading within the portfolio. The Sub-Advisor defines relative value trading as taking advantage of price opportunities in the markets for municipal obligations by looking for market inefficiencies using the Sub-Advisor’s assessment of creditworthiness of the issuer, analysis of an issuer’s revenue history and projections of revenues to be used as sources of repayment for the debt issue, the issuer’s credit strength as measured by rating agencies, economic growth prospects in the regional economy that may affect the issuer, and the pricing of new issue and secondary market municipal issues of comparable quality. The same factors are used to assist the Sub-Advisor in making decisions to sell investments. With respect to 20% of its net assets, the Fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises. The Fund may hold cash and may invest in cash equivalents and money market instruments with up to 20% of the Fund’s net assets. The Sub-Advisor’s process for selecting municipal obligations for purchase and sale generally includes consideration of the creditworthiness of the issuer obligated to repay the obligation. In evaluating creditworthiness, the Sub-Advisor considers ratings assigned by rating agencies and generally performs additional credit and investment analysis. The portfolio managers may sell a security when its credit quality declines, when the remaining maturity of a fixed-income security reaches a certain point or to pursue more attractive investment options. As an actively managed ETF that does not seek to replicate the performance of a specified index, the Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. Under normal market conditions, the Fund invests at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. The loss of your money is a principal risk of investing in the Fund. Municipal Securities Risk. The risk of a municipal obligation depends on the financial and credit status of the issuer. Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions, credit rating downgrades, or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest or otherwise affect the value of such securities. Certain municipalities may have difficulty meeting their obligations due to, among other reasons, changes in underlying demographics. Municipal securities can be significantly affected by political changes as well as uncertainties in the municipal market related to government regulation, taxation, legislative changes or the rights of municipal security holders. Because many municipal securities are issued to finance similar projects, especially those relating to education, health care, transportation, utilities and water and sewer, conditions in those sectors can affect the overall municipal market. Municipal securities include general obligation bonds, which are backed by the “full faith and credit” of the issuer, which has the power to tax residents to pay bondholders. Timely payments depend on the issuer’s credit quality, ability to raise tax revenues and ability to maintain an adequate tax base. General obligation bonds generally are not backed by revenues from a specific project or source. Municipal securities also include revenue bonds, which are generally backed by revenue from a specific project or tax. Private activity bonds are an example of municipal securities backed by a specific project or tax. While income from most municipal securities is exempt from federal income taxes, the income from certain types of private activity bonds is included in the alternative minimum tax calculation. Only persons subject to the alternative minimum tax pay this tax. Private activity bonds may be issued for purposes such as housing or airports or to benefit a private company. Industrial development bonds are a special type of private activity bond permitted under Internal Revenue Service guidelines and are typically backed by a corporate obligor to finance projects benefiting the public. Revenue bonds generally are not backed by the full faith and credit and general taxing power of the issuer. The bond markets may experience reduced liquidity due to events such as limited trading activity, reductions in bond inventory, market volatility, and rapid or unexpected changes in interest rates. Less liquid markets could lead to greater price volatility and limit the Fund's ability to sell a holding at a suitable price. The market for municipal bonds may be less liquid than for taxable bonds. There may be less information available on the financial condition of issuers of municipal securities than for public corporations. Municipal instruments may be susceptible to periods of economic stress, which could affect the market values and marketability of municipal obligations of issuers in a state, U.S. territory, or possession. Municipal Issuer Focus Risk. The municipal issuers in which the Fund invests may be located in the same geographic area or may pay their interest obligations from revenue of similar projects, such as hospitals, airports, utility systems and housing finance agencies. This may make the Fund's investments more susceptible to similar social, economic, political or regulatory occurrences, making the Fund more susceptible to experience a drop in its share price than if the Fund had been more diversified across issuers that did not have similar characteristics. Tax Risk. There is no guarantee that the Fund’s income will be exempt from U.S. federal or state or local income taxes. Events occurring after the date of issuance of a municipal bond or after the Fund’s acquisition of a municipal bond may result in a determination that interest on that bond is includible in gross income for U.S. federal income tax purposes retroactively to its date of issuance. Such a determination may cause a portion of prior distributions by the Fund to its shareholders to be taxable to those shareholders in the year of receipt. Federal, state or local changes in income or alternative minimum tax rates or in the tax treatment of municipal bonds may make municipal bonds less attractive as investments and cause them to lose value. Alternative Minimum Tax Risk. Although the fund seeks to distribute tax-exempt income, a portion of the fund’s otherwise tax-exempt dividends may be taxable to those shareholders subject to the federal alternative minimum tax. Call/Prepayment Risk. During periods of falling interest rates, an issuer of a callable bond may exercise its right to pay principal on an obligation earlier than expected. This may result in the Fund reinvesting proceeds at lower interest rates, resulting in a decline in the Fund’s income. Securities subject to prepayment risk generally offer less potential for gains and greater price volatility than other income-bearing securities of comparable maturity. Interest Rate Risk. As interest rates rise, the value of fixed income securities held by the Fund are likely to decrease. Securities with longer durations tend to be more sensitive to interest rate changes, making them more volatile than securities with shorter durations. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy (including the Federal Reserve ending its “quantitative easing” policy of purchasing large quantities of securities issued or guaranteed by the U.S. government), rising inflation, and changes in general economic conditions. Interest rate changes can be sudden and unpredictable. Rising interest rates may lead to decreased liquidity in the bond markets, making it more difficult for the Fund to value or sell some or all of its bond investments at any given time. Changes in interest rates may also affect the Fund’s share price; for example, a sharp rise in interest rates could cause the Fund’s share price to fall. Securities with longer durations tend to be more sensitive to interest rate changes, making them more volatile than securities with shorter durations. Duration is an estimate of a security’s sensitivity to changes in prevailing interest rates that is based on certain factors that may prove to be incorrect. It is therefore not an exact measurement and may not be able to reliably predict a particular security’s price sensitivity to changes in interest rates. High Yield Debt Securities Risk. Compared to higher quality debt securities, high yield debt securities (also referred to as junk bonds or below-investment grade bonds) and other low-rated securities involve a greater risk of default or price changes due to changes in the credit quality of the issuer. Compared to higher quality debt securities, high yield debt securities are more likely to be unsecured and are more likely to be subordinated to other creditors; claims. High yield debt securities are considered speculative with respect to the issuer's capacity to pay interest and repay principal, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile. The values of high yield debt securities often fluctuate more in response to political, regulatory or economic developments than higher quality bonds, and their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at an acceptable price, thus subjecting the Fund to a substantial risk of loss. The secondary market for below investment grade securities may not be as liquid as the secondary market for more highly rated securities, a factor which may have an adverse effect on the fund's ability to dispose of a particular high yield security. There are fewer dealers in the market for high yield securities than for investment grade securities. The prices quoted by different dealers may vary significantly and the spread between the bid and asked price is generally much larger for high yield securities than for higher quality securities. Fixed Income Risk. 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), 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. Credit/Default Risk. Credit risk is the risk that issuers or guarantors of debt instruments is unable or unwilling to make timely interest and/or principal payments or otherwise honor its obligations. Changes in the financial condition of an issuer or counterparty, changes in specific economic, social or political conditions that affect a particular type of security or other instrument or an issuer, and changes in economic, social, or political conditions generally can increase the risk of default by an issuer or counterparty, which can affect a security’s or other instrument’s credit quality or value and an issuer’s or counterparty’s ability to pay interest and principal when due. Debt instruments are subject to varying degrees of credit risk, which may be reflected in credit ratings. Securities issued by the U.S. government have limited credit risk. Credit rating downgrades and defaults (failure to make interest or principal payment) may potentially reduce the Fund’s income and Share price. U.S. Government Securities Risk. U.S. government securities risk refers to the risk that debt securities issued or guaranteed by certain U.S. Government agencies, instrumentalities, and sponsored enterprises are not supported by the full faith and credit of the U.S. Government, and so investments in their securities or obligations issued by them involve credit risk greater than investments in other types of U.S. Government securities. Additionally, because of the rising U.S. Government debt burden, it is possible that the U.S. Government may not be able to meet its financial obligations or that securities issued or backed by the U.S. Government may experience credit downgrades. Such a credit event may adversely affect the financial markets or the broader U.S. or global economic outlook. Authorized Participant Risk. Only an authorized participant (“Authorized Participant” or “AP”) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). Authorized Participant concentration risk may be heightened for exchange-traded funds (ETFs), such as the Fund, that invest in securities issued by non-U.S. issuers or other securities or instruments that have lower trading volumes. ETF Structure Risks. The Fund is structured as an ETF and as a result is subject to certain risks, including: <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Not Individually Redeemable. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known as “Creation Units”, which are only available to Authorized Participants. Retail investors may only purchase or sell shares on the Exchange. You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</td></tr></table> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Trading Issues. An active trading market for the Shares may not be developed or maintained. 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. 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> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Cash Purchases. To the extent Creation Units are purchased or sold by APs in cash instead of in-kind, the Fund will incur certain costs such as brokerage expenses and taxable gains and losses. These costs could be imposed on the Fund and impact the Fund’s NAV if not fully offset by transaction fees paid by the APs.</td></tr></table> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Market Price Variance Risk. 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">To the extent Authorized Participants exit the business or are unable to process creations or redemptions and no other Authorized Participant can step in to do so, there may be a significantly reduced trading market in the Shares, which can lead to differences between the market value of Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">The market price for the 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 receive significantly less for Shares than the Fund's net asset value, which is reflected in the bid and ask price for Shares or in the closing price.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">When all or a portion of an ETFs underlying securities trade in a market that is closed when the market for the 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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</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 net asset value.</td> </tr></table> Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. In managing the Fund’s portfolio securities, the Advisor will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. Market Risk. Market risk refers to the possibility that the value of securities held by the Fund may decline due to daily fluctuations in the market. Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in general. The price of a security may even be affected by factors unrelated to the value or condition of its issuer, including changes in interest rates, economic and political conditions, and general market conditions. The Fund’s performance per share will change daily in response to such factors. Investment Risk. An investment in shares is subject to investment risk, including the possible loss of the entire principal amount invested. An investment in shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The value of your shares at any point in time may be worth less than the value of your original investment. All investments involve risks, including the risk that the entire amount invested may be lost. No guarantee or representation is made that the Fund’s investment objectives will be achieved. Any real or perceived adverse economic changes, local, regional or global events such as war, acts of terrorism, disasters, trade disputes, disputes with specific countries that could result in additional tariffs, trade barriers and/or investment restrictions in certain securities of those countries, the spread of infectious illness or other public health issues, recessions, raising of interest rates, or other events, could have a material adverse impact on the Fund or its investments. Any of these conditions can adversely affect the economic prospects of many companies, sectors, nations, regions and the market in general, in ways that cannot necessarily be foreseen. Moreover, changes in these and other areas present uncertainty and risk with respect to the Fund’s NAV, performance, financial condition, results of operations, ability to pay distributions, and portfolio liquidity, among other factors. Economic problems in a single country are increasingly affecting other markets and economies, and a continuation of this trend could adversely affect global economic conditions and world markets. Uncertainty and volatility in the financial markets and political systems of the U.S. or any other country, including volatility as a result of the ongoing conflicts between Russia and Ukraine and Israel and Hamas and the rapidly evolving measures in response, may have adverse spill-over effects into the global financial markets generally. Early Close/Trading Halt Risk. 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. Cybersecurity Risk. With the increased use of technologies such as the internet to conduct business, the Fund, like all companies, may be susceptible to operational, information security, and related risks. As part of its business, the Sub-Advisor processes, stores, and transmits large amounts of electronic information, including information relating to the transactions of the Fund. The Fund and its service providers are therefore susceptible to cybersecurity risk. Cybersecurity failures or breaches of the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, the inability of Fund shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, and/or reputational damage. The Fund and its shareholders could be negatively impacted as a result. Fund Performance The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the average annual total returns compared to that of a broad-based securities market index and a style-specific index (one reflecting the market segments in which the Fund invests). The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information on the Fund’s results can be obtained by visiting www.genterfunds.com/GENM. The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the average annual total returns compared to that of a broad-based securities market index and a style-specific index (one reflecting the market segments in which the Fund invests). The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.genterfunds.com/GENM Calendar Year Returns <div id="xdx_A84_eoef--BarChartTableTextBlock_zQ7wWmr6tVp5"></div> <table cellpadding="0" cellspacing="0" id="xdx_A56_zFMoiMEoy15g" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: bottom; text-align: center"> <th style="display: none">Years</th> <th style="display: none">Returns</th></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; width: 50%">2025</td> <td id="xdx_982_eoef--AnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000249690Member_ze1AOpdblFQd" style="display: none; width: 50%">5.10%</td></tr> </table> <img alt="" src="genter485bpos002.jpg"/> 0.0510 During the periods shown in the bar chart above, the Fund’s highest quarterly return was 2.19% (quarter ended September 30, 2025) and the Fund’s lowest quarterly return was -0.77% (quarter ended December 31, 2025). The Fund’s year-to-date return, as of June 30, 2026, was 1.74%. highest quarterly return 0.0219 2025-09-30 lowest quarterly return -0.0077 2025-12-31 year-to-date return 2026-06-30 0.0174 <div id="xdx_A80_eoef--PerformanceTableTextBlock_z96ltSnvYpl9"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zLZzclnFJAn1" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: top; background-color: black"> <td id="xdx_98F_eoef--PerformanceTableHeading_c20260831__20260831__dei--LegalEntityAxis__custom--S000084933Member_zd0nhk0nlSy9" style="border: Black 1pt solid;width: 69%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Average Annual Total Returns Period Ended December 31, 2025</td> <td id="xdx_49A_20250101__20251231_z8eiYpxfkf47" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid;width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Past 1 Year</td> <td id="xdx_499_20240521__20251231_zp7bycxJ7nNk" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid;width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Since Inception1</td></tr> <tr style="vertical-align: bottom"> <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"> Before taxes After taxes on distributions After taxes on distributions and sale of shares</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.10% 5.10% 4.24%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.81% 4.75% 4.38%</td></tr> <tr id="xdx_401_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BloombergMunicipalBondIndexMember_z8290HwagXml"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Bloomberg Municipal Bond Index (reflects no deductions for fees and expenses)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 5.03%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 4.53%</td></tr> <tr id="xdx_407_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--BloombergMunicipalBond5YearIndexMember_z5ba2qoujze1"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Bloomberg Municipal Bond 5 Year Index (reflects no deductions for fees and expenses)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 4.25%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 3.92%</td></tr> </table> <table border="0" 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="text-align: justify">1</td> <td style="text-align: justify">The Fund commenced operations on May 21, 2024.</td></tr> </table> Average Annual Total Returns Period Ended December 31, 2025 0.0510 0.0510 0.0424 0.0481 0.0475 0.0438 (reflects no deductions for fees and expenses) 0.0503 0.0453 (reflects no deductions for fees and expenses) 0.0425 0.0392 2024-05-21 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation, may differ from those shown, and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA). After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation, may differ from those shown, and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA). Genter Capital Taxable Quality Intermediate ETF Investment Objective Genter Capital Taxable Quality Intermediate ETF (the “Fund”) seeks current income with limited risk to principal with a secondary objective of capital appreciation. Fees and Expenses of the Fund This table describes the fees and expenses that you may pay if you buy, hold, and sell Shares. Investors purchasing or selling Shares in the secondary market may be subject to costs (including customary brokerage commissions) charged by their broker. These costs are not included in the fee table or expense example below. <div id="xdx_A81_eoef--AnnualFundOperatingExpensesTableTextBlock_zk1K4BWAMEaf"></div> <table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zm03cZ7aKzW5" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top; background-color: black"> <td colspan="2" style="border: black 1pt solid;"><p id="xdx_98A_eoef--OperatingExpensesCaption_c20260831__20260831__dei--LegalEntityAxis__custom--S000084932Member_gBFOEC-UYZCB_zu9RNZffO5Ze" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-align: justify">Annual Fund Operating Expenses  (expenses that you pay each year as a percentage of the value of your investment)</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;width: 77%; padding-left: 0.05in">Management Fees</td> <td id="xdx_98C_eoef--ManagementFeesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249689Member_z4vMVIt1HUGc" style="border-right: black 1pt solid; border-bottom: black 1pt solid;width: 23%; text-align: center">0.20%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;padding-left: 0.05in">Other Expenses</td> <td id="xdx_989_eoef--OtherExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249689Member_ze1FU6jR1fKf" style="border-right: black 1pt solid; border-bottom: black 1pt solid;text-align: center">0.18%</td></tr> <tr style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid;padding-left: 0.05in">Total Annual Fund Operating Expenses</td> <td id="xdx_986_eoef--ExpensesOverAssets_dp_c20260831__20260831__oef--ClassAxis__custom--C000249689Member_zFyAMLiupAe2" style="border-right: black 1pt solid; border-bottom: black 1pt solid;text-align: center">0.38%</td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0020 0.0018 0.0038 Example. This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell(or you hold) all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and 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_A84_eoef--ExpenseExampleWithRedemptionTableTextBlock_zjZc43iTUcaj"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zQtUI36MiWK9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top; background-color: black"> <td id="xdx_485_eoef--ExpenseExampleYear01_zIWWwpiaN1f6" style="border: black 1pt solid; width: 28%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">1 Year</td> <td id="xdx_489_eoef--ExpenseExampleYear03_zcfvfDvh2HRc" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">3 Years</td> <td id="xdx_48E_eoef--ExpenseExampleYear05_zn0TWxMilz7l" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">5 Years</td> <td id="xdx_483_eoef--ExpenseExampleYear10_zoZVyhJ6sCBk" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 24%; padding-top: 3pt; padding-bottom: 3pt; text-align: center">10 Years</td></tr> <tr id="xdx_41B_20260831__20260831__oef--ClassAxis__custom--C000249689Member_zVh8hCuWWda2"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$39</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$122</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$213</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; padding-top: 3pt; padding-bottom: 3pt; text-align: center">$480</td></tr> </table> 39 122 213 480 Portfolio Turnover. The Fund may pay 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 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 portfolio turnover rate was 34.90%. 0.3490 Principal Investment Strategies The Fund is actively managed and will not seek to replicate the performance of an index. Under normal market conditions, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in investment grade, intermediate term securities. The term “taxable” in the Fund’s name refers to taxable fixed income instruments and the term “quality” in the Fund’s name refers to investment grade securities. These investment grade, intermediate term securities will be U.S. Treasuries, Treasury Inflation Protected Securities (TIPS), Floating Rate Notes (FRN), U.S. agency bonds, U.S. agency mortgage backed securities, U.S. dollar denominated investment grade foreign (non U.S.) government issued debt securities, domestic and foreign investment-grade corporate bonds, domestic commercial mortgage backed securities, domestic commercial asset backed securities, and domestic preferred securities, all with a weighted average duration of no more than 150% of Bloomberg Intermediate U.S. Government/Credit Index or less than 50% of the Bloomberg Intermediate U.S. Government/Credit Index. The Bloomberg Intermediate U.S. Government/Credit Index had a weighted average maturity of 4.26 years and a weighted average duration of 3.74 years as of December 31, 2025. The average maturity or duration of the Fund’s portfolio will vary based on the Sub-Advisor’s assessment of economic and market conditions, as well as current and anticipated changes in interest rates. Maturity is the agreed-upon date on which an investment ends, triggering the repayment of the fixed income security. Duration measures the sensitivity of a fixed income security’s price to changes in interest rates. The Fund’s investment sub-advisor’s, RNC Capital Management, LLC d/b/a Genter Capital Management (“Genter Capital” or the “Sub-Advisor”) expects to actively adjust the Fund’s average maturity and average duration to meet its expectations of opportunity for incremental income and yield from the portfolio given its outlook for macroeconomic conditions and expected change, microeconomic credit quality of issuers, and other factors that affect the fixed income markets in general and issuers specifically (these include the current macroeconomic cycle of growth, recession, rates of growth in the economy and the Sub-Advisor’s assessment of how the Federal Reserve and the largest central banks, especially in Europe and Asia, might adjust monetary policy in the coming economic quarters and fiscal years). When considering the future direction of market interest rates and economic policy, the Sub-Advisor believes that consumer debt levels, government debt levels as a percentage of current and projected gross domestic product, corporate debt levels as a percentage of revenues, and net capital are some of the more important factors to consider. Each of these factors contributes to the Sub-Advisor’s assessment of the preferred average maturity and duration of the Fund’s portfolio at any given time. The securities in which the Fund invests will typically be investment grade (rated BBB or better by either Moody’s Investors Services, Inc. (“Moody’s”) or Standard & Poor’s (“S&P”) and unrated securities considered by the Sub-Advisor to be of comparable credit quality). The U.S. agency bonds in which the Fund invests are mortgage-backed securities guaranteed by, or secured by collateral that is guaranteed by, the United States Government, its agencies, instrumentalities, or sponsored corporations. These mortgage-backed securities include, among others, government mortgage pass-through securities (a security based on mortgage receivables that provides the investor a right to a portion of those profits) and collateralized mortgage obligations (“CMOs”). As an actively managed ETF that does not seek to replicate the performance of a specified index, the Fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. From time to time the Fund may focus its investments in one or more particular sectors. As of April 30, 2026, the Fund focused its investments in the Financials sector. Under normal market conditions, the Fund intends to invest at least 80% of its net assets (plus the amount of borrowings for investment purposes) in investment grade, intermediate term securities. The loss of your money is a principal risk of investing in the Fund. Call/Prepayment Risk. During periods of falling interest rates, an issuer of a callable bond may exercise its right to pay principal on an obligation earlier than expected. This may result in the Fund reinvesting proceeds at lower interest rates, resulting in a decline in the Fund’s income. Securities subject to prepayment risk generally offer less potential for gains and greater price volatility than other income-bearing securities of comparable maturity. Interest Rate Risk. As interest rates rise, the value of fixed income securities held by the Fund are likely to decrease. Securities with longer durations tend to be more sensitive to interest rate changes, making them more volatile than securities with shorter durations. A wide variety of market factors can cause interest rates to rise, including central bank monetary policy (including the Federal Reserve ending its “quantitative easing” policy of purchasing large quantities of securities issued or guaranteed by the U.S. government), rising inflation, and changes in general economic conditions. Interest rate changes can be sudden and unpredictable. Rising interest rates may lead to decreased liquidity in the bond markets, making it more difficult for the Fund to value or sell some or all of its bond investments at any given time. Changes in interest rates may also affect the Fund’s share price; for example, a sharp rise in interest rates could cause the Fund’s share price to fall. Securities with longer durations tend to be more sensitive to interest rate changes, making them more volatile than securities with shorter durations. Duration is an estimate of a security’s sensitivity to changes in prevailing interest rates that is based on certain factors that may prove to be incorrect. It is therefore not an exact measurement and may not be able to reliably predict a particular security’s price sensitivity to changes in interest rates. Fixed Income Risk. 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), 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. Inflation Protected Securities Risk. The value of inflation-protected securities, such as TIPS, generally will fluctuate in response to changes in real interest rates, generally decreasing when real interest rates rise and increasing when real interest rates fall. In addition, interest payments on inflation-protected securities will generally vary up or down along with the rate of inflation. Real interest rates are generally measured as a nominal interest less an inflation rate. As such, investors should be aware that an investment in TIPS over a particular timeframe may decrease in value even in an inflationary environment. Interest Interest payments on inflation-protected debt securities can be unpredictable. U.S. Government Securities Risk. U.S. government securities risk refers to the risk that debt securities issued or guaranteed by certain U.S. Government agencies, instrumentalities, and sponsored enterprises are not supported by the full faith and credit of the U.S. Government, and so investments in their securities or obligations issued by them involve credit risk greater than investments in other types of U.S. Government securities. Additionally, because of the rising U.S. Government debt burden, it is possible that the U.S. Government may not be able to meet its financial obligations or that securities issued or backed by the U.S. Government may experience credit downgrades. Such a credit event may adversely affect the financial markets or the broader U.S. or global economic outlook. Mortgage- and Asset-Backed Securities Risk. In addition to other risks commonly associated with investing in debt securities, mortgage-backed securities (“MBS”) are subject to “prepayment risk” and “extension risk.” Prepayment risk is the risk that, when interest rates fall, certain types of obligations will be paid off by the obligor more quickly than originally anticipated, and the Fund may have to invest the proceeds in securities with lower yields. MBS are priced with an expectation of some anticipated level of prepayment of principal. Extension risk is the risk that, when interest rates rise, certain obligations will be paid off by the obligor more slowly than anticipated causing the value of these securities to fall. MBS are also subject to the risk of default on the underlying mortgages, particularly during periods of economic downturn. Reduced investor demand for mortgage loans and mortgage- related securities may adversely affect the liquidity and market value of MBS. The risks associated with investing in asset-backed securities (“ABS”) are similar to those associated with investing in MBS. ABS also entail certain risks not presented by MBS, including the risk that in certain states it may be difficult to perfect the liens securing the collateral backing certain ABS. Certain ABS are based on loans that are unsecured, which means that there is no collateral to seize if the underlying borrower defaults. <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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Commercial Mortgage-Backed Securities (CMBS). CMBS are subject to additional risks associated with a lack of standardized terms, relatively sorter maturities as compared to residential mortgage-backed securities, and payment of all or substantially all of the principal at maturity, rather than regular amortization of principal. Moreover, the features, type and use of the commercial properties securing the underlying pool of mortgages may add to the overall risk of investing in CMBS. CMBS have historically been more volatile in response to adverse changes in economic conditions and circumstances than residential mortgage-backed securities.</td></tr></table> <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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Collateralized Mortgage Obligations (CMOs). CMOs are a type of MBS. CMOs are created by dividing the principal and interest payments collected on a pool of mortgages into several revenue streams (tranches) with different priority rights to portions of the underlying mortgage payments. Certain CMO tranches may represent a right to receive interest only (“IOs”), principal only (“POs”) or an amount that remains after floating-rate tranches are paid (an inverse floater). These securities are frequently referred to as "mortgage derivatives" and may be extremely sensitive to changes in interest rates. Interest rates on inverse floaters, for example, vary inversely with a short-term floating rate (which may be reset periodically). Interest rates on inverse floaters will decrease when short-term rates increase, and will increase when short-term rates decrease. These securities have the effect of providing a degree of investment leverage. In response to changes in market interest rates or other market conditions, the value of an inverse floater may increase or decrease at a multiple of the increase or decrease in the value of the underlying securities. If the Fund invests in CMOs (including CMO tranches issued by government agencies) and interest rates move in a manner not anticipated by the Sub-Adviser, it is possible that the Fund could lose all or substantially all of its investment.</td></tr></table> Preferred Securities Risk. Investing in preferred stock involves the following risks: (i) certain preferred stocks contain provisions that allow an issuer under certain conditions to skip or defer distributions; (ii) preferred stocks may be subject to redemption, including at the issuer’s call, and, in the event of redemption, the Fund may not be able to reinvest the proceeds at comparable or favorable rates of return; (iii) preferred stocks are generally subordinated to bonds and other debt securities in an issuer’s capital structure in terms of priority for corporate income and liquidation payments; and (iv) preferred stocks may trade less frequently and in a more limited volume and may be subject to more abrupt or erratic price movements than many other securities. Because preferred stocks generally pay dividends only after the issuing company makes required payments to holders of its bonds and other debt, the value of preferred stocks generally is more sensitive than bonds and other debt or actual or perceived changes in the company's financial condition or prospects. Floating Rate Obligations Risk. A floating rate obligation's value and coupon rate may be adversely impacted when market interest rates change. In addition, the secondary market on which floating rate obligations are traded may be less liquid than the market for investment grade fixed income securities or other types of income-producing securities, which may have an adverse impact on a floating rate obligation's market price. There is also a potential that there is no active market to trade floating rate obligations, that there may be restrictions on their transfer, or that the issuer may default. As a result, the Fund may be unable to sell floating rate obligations at the desired time or may be able to sell only at a price less than fair market value. Credit/Default Risk. Credit risk is the risk that issuers or guarantors of debt instruments is unable or unwilling to make timely interest and/or principal payments or otherwise honor its obligations. Changes in the financial condition of an issuer or counterparty, changes in specific economic, social or political conditions that affect a particular type of security or other instrument or an issuer, and changes in economic, social, or political conditions generally can increase the risk of default by an issuer or counterparty, which can affect a security’s or other instrument’s credit quality or value and an issuer’s or counterparty’s ability to pay interest and principal when due. Debt instruments are subject to varying degrees of credit risk, which may be reflected in credit ratings. Securities issued by the U.S. government have limited credit risk. Credit rating downgrades and defaults (failure to make interest or principal payment) may potentially reduce the Fund’s income and Share price. Foreign Securities Risk. Foreign securities have investment risks different from those associated with domestic securities. The value of foreign investments (including investments in ADRs) may be affected by the value of the local currency relative to the U.S. dollar, changes in exchange control regulations, application of foreign tax laws, changes in governmental economic or monetary policy, or changed circumstances in dealings between nations. There may be less government supervision of foreign markets, resulting in non-uniform accounting practices and less publicly available information about issuers of foreign securities. Foreign brokerage commissions, custody fees, and other costs of investing in foreign securities are often higher than in the United States. Investments in foreign issues could be affected by other factors not present in the United States, including expropriation, armed conflict, confiscatory taxation, and potential difficulties in enforcing contractual obligations. Sovereign Debt Risk. Investments in sovereign debt can involve a high degree of risk, including the risk that the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or to pay the interest on its sovereign debt in a timely manner. A sovereign debtor's willingness or ability to satisfy its debt obligation may be affected by various factors, including its cash flow situation, the extent of its foreign currency reserves, the availability of foreign exchange when a payment is due, the relative size of its debt position in relation to its economy as a whole, the sovereign debtor's policy toward international lenders, and local political constraints to which the governmental entity may be subject. Sovereign debtors may also be dependent on expected disbursements from foreign governments, multilateral agencies, and other entities. The failure of a sovereign debtor to implement economic reforms, achieve specified levels of economic performance, or repay principal or interest when due may result in the cancellation of third party commitments to lend funds to the sovereign debtor, which may further impair such debtor's ability or willingness to timely service its debts. High Yield Debt Securities Risk. Compared to higher quality debt securities, high yield debt securities (also referred to as junk bonds or below-investment grade bonds) and other low-rated securities involve a greater risk of default or price changes due to changes in the credit quality of the issuer. Compared to higher quality debt securities, high yield debt securities are more likely to be unsecured and are more likely to be subordinated to other creditors; claims. High yield debt securities are considered speculative with respect to the issuer's capacity to pay interest and repay principal, are more susceptible to default or decline in market value and are less liquid than investment grade debt securities. Prices of high yield debt securities tend to be very volatile. The values of high yield debt securities often fluctuate more in response to political, regulatory or economic developments than higher quality bonds, and their values can decline significantly over short periods of time or during periods of economic difficulty when the bonds could be difficult to value or sell at an acceptable price, thus subjecting the Fund to a substantial risk of loss. The secondary market for below investment grade securities may not be as liquid as the secondary market for more highly rated securities, a factor which may have an adverse effect on the fund's ability to dispose of a particular high yield security. There are fewer dealers in the market for high yield securities than for investment grade securities. The prices quoted by different dealers may vary significantly and the spread between the bid and asked price is generally much larger for high yield securities than for higher quality securities. Authorized Participant Risk. Only an authorized participant (“Authorized Participant” or “AP”) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). Authorized Participant concentration risk may be heightened for exchange-traded funds (ETFs), such as the Fund, that invest in securities issued by non-U.S. issuers or other securities or instruments that have lower trading volumes. ETF Structure Risks. The Fund is structured as an ETF and as a result is subject to certain risks, including: <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Not Individually Redeemable. Shares are not individually redeemable and may be redeemed by the Fund at NAV only in large blocks known as “Creation Units”, which are only available to Authorized Participants. Retail investors may only purchase or sell shares on the Exchange. You may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</td></tr></table> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Trading Issues. An active trading market for the Shares may not be developed or maintained. 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. 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> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Cash Purchases. To the extent Creation Units are purchased or sold by APs in cash instead of in-kind, the Fund will incur certain costs such as brokerage expenses and taxable gains and losses. These costs could be imposed on the Fund and impact the Fund’s NAV if not fully offset by transaction fees paid by the APs.</td></tr></table> <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: 18pt"></td><td style="width: 9pt">o</td><td style="text-align: justify">Market Price Variance Risk. 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">To the extent Authorized Participants exit the business or are unable to process creations or redemptions and no other Authorized Participant can step in to do so, there may be a significantly reduced trading market in the Shares, which can lead to differences between the market value of Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">The market price for the 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 receive significantly less for Shares than the Fund's net asset value, which is reflected in the bid and ask price for Shares or in the closing price.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</td><td style="text-align: justify">When all or a portion of an ETFs underlying securities trade in a market that is closed when the market for the 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 Shares and the Fund's net asset value.</td> </tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 27pt"></td><td style="width: 20pt; text-align: left">■</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 net asset value.</td> </tr></table> Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. In managing the Fund’s portfolio securities, the Advisor will apply investment techniques and risk analyses in making investment decisions for the Fund, but there can be no guarantee that these will produce the desired results. Market Risk. Market risk refers to the possibility that the value of securities held by the Fund may decline due to daily fluctuations in the market. Market prices for securities change daily as a result of many factors, including developments affecting the condition of both individual companies and the market in general. The price of a security may even be affected by factors unrelated to the value or condition of its issuer, including changes in interest rates, economic and political conditions, and general market conditions. The Fund’s performance per share will change daily in response to such factors. Sector Focus Risk. Because the Fund’s investments may, from time to time, be more heavily invested in particular sectors, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors. As a result, the Fund’s share price may fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of industries. The specific risks for each of the sectors in which the Fund may focus its investments include the additional risks described below: <div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialsMember_z9K5WC2MyIWd"></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: 9.35pt"></td><td style="width: 18pt">●</td><td style="text-align: justify">Financials. Companies engaged in banking, financial services, consumer finance, capital markets, and insurance activities, as well as mortgage real estate investment trusts (“REITs”) are subject to risks including extensive governmental regulation; decreased profits resulting from changes in interest rates and loan losses, which usually increase in economic downturns; severe price competition; and increased inter-industry consolidation and competition; all of which may adversely affect the value of those holdings. Companies in the financials sector have also been affected by increased competition, which could adversely affect the profitability or viability of such companies. Although regulators have focused on and taken measures to stabilize the financial system, bank failures and liquidity concerns continue to impact companies in the banking and financial services industries. Further regulatory intervention may be required to stabilize the U.S. banking industry if U.S. banks appear to be at a risk of failure, which could result in other unforeseen adverse impacts on the economy.</td></tr></table> Investment Risk. An investment in shares is subject to investment risk, including the possible loss of the entire principal amount invested. An investment in shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The value of your shares at any point in time may be worth less than the value of your original investment. All investments involve risks, including the risk that the entire amount invested may be lost. No guarantee or representation is made that the Fund’s investment objectives will be achieved. Any real or perceived adverse economic changes, local, regional or global events such as war, acts of terrorism, disasters, trade disputes, disputes with specific countries that could result in additional tariffs, trade barriers and/or investment restrictions in certain securities of those countries, the spread of infectious illness or other public health issues, recessions, raising of interest rates, or other events, could have a material adverse impact on the Fund or its investments. Any of these conditions can adversely affect the economic prospects of many companies, sectors, nations, regions and the market in general, in ways that cannot necessarily be foreseen. Moreover, changes in these and other areas present uncertainty and risk with respect to the Fund’s NAV, performance, financial condition, results of operations, ability to pay distributions, and portfolio liquidity, among other factors. Economic problems in a single country are increasingly affecting other markets and economies, and a continuation of this trend could adversely affect global economic conditions and world markets. Uncertainty and volatility in the financial markets and political systems of the U.S. or any other country, including volatility as a result of the ongoing conflicts between Russia and Ukraine and Israel and Hamas and the rapidly evolving measures in response, may have adverse spill-over effects into the global financial markets generally. Early Close/Trading Halt Risk. 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. Cybersecurity Risk. With the increased use of technologies such as the internet to conduct business, the Fund, like all companies, may be susceptible to operational, information security, and related risks. As part of its business, the Sub-Advisor processes, stores, and transmits large amounts of electronic information, including information relating to the transactions of the Fund. The Fund and its service providers are therefore susceptible to cybersecurity risk. Cybersecurity failures or breaches of the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, the inability of Fund shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, and/or reputational damage. The Fund and its shareholders could be negatively impacted as a result. Fund Performance The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the average annual total returns compared to that of a broad-based securities market index and a style-specific index (one reflecting the market segments in which the Fund invests). The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information on the Fund’s results can be obtained by visiting www.genterfunds.com/GENT. The following bar chart and table provide an indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by showing how the average annual total returns compared to that of a broad-based securities market index and a style-specific index (one reflecting the market segments in which the Fund invests). The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. www.genterfunds.com/GENT Calendar Year Returns <div id="xdx_A8D_eoef--BarChartTableTextBlock_zsuMCTXxpbm3"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5C_z8gL81Z9NUD4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: bottom; text-align: center"> <th style="display: none">Years</th> <th style="display: none">Returns</th></tr> <tr style="display: none; vertical-align: top; text-align: left"> <td style="display: none; width: 50%">2025</td> <td id="xdx_98D_eoef--AnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000249689Member_z9c3QdkisDx9" style="display: none; width: 50%">6.93%</td></tr> </table> <img alt="" src="genter485bpos003.jpg"/> 0.0693 During the periods shown in the bar chart above, the Fund’s highest quarterly return was 2.30% (quarter ended March 31, 2025) and the Fund’s lowest quarterly return was -0.70% (quarter ended December 31, 2025). The Fund’s year-to-date return, as of June 30, 2026, was 0.62%. highest quarterly return 0.0230 2025-03-31 lowest quarterly return -0.0070 2025-12-31 year-to-date return 2026-06-30 0.0062 <div id="xdx_A8B_eoef--PerformanceTableTextBlock_z8endNqcFyF5"></div> <table cellpadding="0" cellspacing="0" id="xdx_A54_dU_zRxAhYwkihF8" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: top; background-color: black"> <td id="xdx_98C_eoef--PerformanceTableHeading_c20260831__20260831__dei--LegalEntityAxis__custom--S000084932Member_zI0FnjGlGki9" style="border: Black 1pt solid;width: 69%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Average Annual Total Returns Period Ended December 31, 2025</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid;width: 13%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Past 1 Year</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid;width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Since Inception1</td></tr> <tr style="vertical-align: bottom"> <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"> Before taxes After taxes on distributions After taxes on distributions and sale of shares</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.93% 5.07% 4.07%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.52% 4.71% 4.21%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Bloomberg US Aggregate Bond Index (reflects no deductions for fees and expenses)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 7.30%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 6.13%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid;vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt">Bloomberg Intermediate US Government/Credit Index (reflects no deductions for fees and expenses)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 6.97%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid;padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> 6.31%</td></tr> </table> <table border="0" 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="text-align: justify">1</td> <td style="text-align: justify">The Fund commenced operations on May 21, 2024.</td></tr> </table> Average Annual Total Returns Period Ended December 31, 2025 0.0693 0.0507 0.0407 0.0652 0.0471 0.0421 (reflects no deductions for fees and expenses) 0.0730 0.0613 0.0697 0.0631 2024-05-21 After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation, may differ from those shown, and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA). After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation, may differ from those shown, and are not applicable to investors who hold Shares through tax-deferred arrangements such as a 401(k) plan or an individual retirement account (IRA). “Acquired Fund Fees and Expenses” are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial statements, once available, because the financial statements include only the direct operating expenses incurred by the Fund. The Fund commenced operations on May 21, 2024. The Fund commenced operations on May 21, 2024.