0002043390 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:TechnologySectorRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:CommunicationsServicesSectorMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member oef:ConsumerDiscretionarySectorMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:EquityMarketRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:GrowthStockInvestmentRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:SectorRisksMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:ForeignSecuritiesRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:DepositaryReceiptsRisksMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:CurrencyExchangeRateRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:EmergingMarketsRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:EconomicAndMarketRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:EtfRisksMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:AuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:CostsOfBuyingOrSellingSharesMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:SharesMayTradeAtPricesOtherThanNavMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:TradingMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:ManagementRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:MarketCapitalizationRisksMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:LargecapitalizationInvestingMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:MidcapitalizationInvestingMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:SmallcapitalizationInvestingMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:NewFundRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member oef:RiskNondiversifiedStatusMember 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member mtgg:OperationalRiskMember 2026-09-04 2026-09-04 0002043390 mtgg:C000279592Member 2026-09-04 2026-09-04 0002043390 mtgg:S000108579Member oef:RiskLoseMoneyMember 2026-09-04 2026-09-04 iso4217:USD pure false 485BPOS 0002043390 2026-09-04 N-1A TIDAL TRUST IV 2026-09-07 MAYTECH GLOBAL GROWTH ETF - FUND SUMMARY Investment Objective The MayTech Global Growth ETF seeks 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 of the Fund (“Shares”). You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below. <div id="xdx_A89_eoef--AnnualFundOperatingExpensesTableTextBlock_zTKlJkg82Smk"></div> <table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zQ6FaxYi4qW3" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td id="xdx_989_eoef--OperatingExpensesCaption_c20260904__20260904__dei--LegalEntityAxis__custom--S000108579Member_z7SonsVubC4l" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif;width: 90%; text-align: justify">Annual Fund Operating Expenses(1) (expenses that you pay each year as a percentage of the value of your investment)  </td> <td id="xdx_495_20260904__20260904__oef--ClassAxis__custom--C000279592Member_zzFZuWIBPGz9" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: justify">  </td></tr> <tr id="xdx_401_eoef--ManagementFeesOverAssets_dpn_zG7BHBQIROT5" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif;text-align: justify">Management Fee  </td> <td style="font: 10pt Times New Roman, Times, Serif;text-align: right">0.75%</td></tr> <tr id="xdx_40D_eoef--DistributionAndService12b1FeesOverAssets_dpn_zCyEoMg3OrUl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif;text-align: justify">Distribution and Service (12b-1) Fees  </td> <td style="font: 10pt Times New Roman, Times, Serif;text-align: right">None </td></tr> <tr id="xdx_408_eoef--OtherExpensesOverAssets_dpn_zE2A16Tlzypf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif;text-align: justify">Other Expenses(2)  </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif;text-align: right">0.00% </td></tr> <tr id="xdx_406_eoef--ExpensesOverAssets_dpn_ze2pcOUvdqZd" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif;text-align: justify">Total Annual Fund Operating Expenses  </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif;text-align: right">0.75% </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 24px"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 30px">(1)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Under the Fund’s investment advisory agreement, in exchange for a single unitary management fee from the Fund, the Fund’s adviser has agreed to pay all expenses incurred by the Fund, except for its advisory fee, interest charges on any borrowings, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940 (the “1940 Act”), and litigation expenses, and other non-routine or extraordinary expenses. </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif">(2)</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Estimated for the current year. </td></tr> </table> Annual Fund Operating Expenses(1) (expenses that you pay each year as a percentage of the value of your investment)  0.0075 0 0.0000 0.0075 Estimated for the current year. 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 hold or redeem all of your Shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The Example does not take into account brokerage commissions that you may pay on your purchases and sales of Shares. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_zt94nqEN6vWh"></div> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zUVwph1lguO6" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td id="xdx_484_eoef--ExpenseExampleYear01_zd0doMNSxF8f" style="border-top: black 1pt solid; font: 10pt Times New Roman, Times, Serif;width: 50%; text-align: center">1 Year</td> <td id="xdx_484_eoef--ExpenseExampleYear03_zngAxfOqUdyb" style="border-top: black 1pt solid; font: 10pt Times New Roman, Times, Serif;width: 50%; text-align: center">3 Years</td></tr> <tr id="xdx_41E_20260904__20260904__oef--ClassAxis__custom--C000279592Member_zgL2v4TqJenf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif;text-align: center">$77</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif;text-align: center">$240</td></tr> </table> 77 240 Portfolio Turnover The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in total annual fund operating expenses or in the expense example above, affect the Fund’s performance. Because the Fund is newly organized, portfolio turnover information is not yet available. Principal Investment Strategies The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing primarily in equity securities of companies that MayTech Global Investments LLC, the Fund’s sub-adviser (the “Sub-Adviser” or “MayTech”) believes are benefiting from long-term secular growth trends and major structural changes across the global economy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of growth companies, as described below. The Sub-Adviser employs a fundamental, research-driven investment process that combines top-down thematic analysis with bottom-up company research. The investment process begins with the identification of long-term secular growth themes that the Sub-Adviser believes are reshaping industries, markets, and consumer behavior globally. These themes may arise from technological innovation, demographic changes, regulatory developments, evolving business models, or other structural shifts that create significant opportunities for sustained earnings growth and value creation. After identifying attractive investment themes, the Sub-Adviser conducts rigorous bottom-up fundamental analysis to identify companies that it believes are competitively advantaged and well-positioned to benefit from the identified themes (“growth companies”). In evaluating potential investments and identifying growth companies, the Sub-Adviser may consider factors such as market opportunity, business quality, competitive positioning, management team strength, financial characteristics, earnings growth potential, cash flow generation, valuation, and the company's ability to execute on long-term growth opportunities. The Fund generally invests in a concentrated portfolio of approximately 20 to 30 equity securities. The Sub-Adviser seeks to construct a portfolio of its highest-conviction investment ideas and may allocate a larger portion of the Fund's assets to companies that it believes possess the strongest combination of thematic relevance, business quality, and long-term growth potential. The Sub-Adviser believes that many secular growth opportunities exhibit "winner-take-most" characteristics, where a limited number of companies ultimately capture a significant share of industry profits and value creation. The Fund may invest in companies of any market capitalization and may invest in U.S. and non-U.S. issuers, including issuers located in developed and emerging markets. The Fund may invest in common stocks, preferred stocks, depositary receipts, including American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs"), and other equity securities. Fund Attributes Under normal circumstances, the Fund will invest at least 80% of the value of its assets, plus borrowings for investment purposes, in the equity securities of growth companies. As part of the 80%, the Fund will invest at least 40% of its net assets, or if conditions are not favorable, invest at least 30% of its net assets, in equity securities of growth companies whose primary operations or principal trading market is in a foreign market, and that are not subject to the requirements of the U.S. securities laws, markets and accounting requirements, i.e., foreign securities. The Fund considers an issuer’s “primary operations” to be in a foreign market if the issuer (i) is organized under the laws of that country, or (ii) derives at least 50% of its revenues or profits from goods produced or sold, investments made, services performed, or has at least 50% of its assets located within that country. Under normal circumstances, the Fund will maintain exposure to equity securities of growth companies in the United States and in at least three countries outside the United States. The Fund is classified as “non-diversified” for purposes of the 1940 Act, which means a relatively high percentage of the Fund’s assets may be invested in the securities of a limited number of companies that could be in the same or related economic sectors. From time to time, the Fund may focus its investments in particular sectors. Under normal circumstances, the Fund will invest at least 80% of the value of its assets, plus borrowings for investment purposes, in the equity securities of growth companies. The Fund may not achieve its investment objective and there is a risk that you could lose all of your money invested in the Fund. Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability. Communications Services Sector. Companies in the Communications Services Sector are subject to extensive government regulation. The costs of complying with governmental regulations, delays or failure to receive required regulatory approvals, or the enactment of new adverse regulatory requirements may adversely affect the business of such companies. Companies in the Communications Services Sector also can be significantly affected by intense competition, including competition with alternative technologies such as wireless communications (including with 5G and other technologies), product compatibility, consumer preferences, rapid product obsolescence, and research and development of new products. Technological innovations may make the products and services of such companies obsolete. Media content creation carries risks of changing consumer tastes and running afoul of regulatory content guidelines, which could result in large fines or the loss of regulatory licenses. Media companies collect significant amounts of personal consumer data and are at risk of data breaches and fines for the unauthorized and unplanned public release of sensitive consumer data. Consumer Discretionary Sector. The consumer discretionary sector may be affected by changes in domestic and international economies, exchange and interest rates, competition, consumers’ disposable income, consumer preferences, social trends and marketing campaigns. Equity Market Risk. 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 specific issuers. The equity securities held in the Fund’s portfolio may experience sudden, unpredictable drops in value or long periods of decline in value. This may occur because of factors that affect securities markets generally or factors affecting specific issuers, industries, or sectors in which the Fund invests. Common stocks, such as those held by the Fund, 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. Growth Stock Investment Risk. Growth-oriented common stocks may involve larger pricing swings and greater potential for loss than other types of investments. Growth stocks tend to trade at a premium when analyzed using traditional valuation metrics such as price-to-earnings ratio and price-to-book ratio. Due to this premium valuation, growth stocks tend to be more susceptible to big price swings. In bull markets, they tend to rise at a much faster pace than the overall market, and they tend to decline at a more rapid rate in bear markets. Sector Risks. The Sub-Adviser’s investment selection process may result in the allocation of more of the Fund’s investments to a particular sector or sectors in the market. If the Fund invests a significant portion of its total assets in a certain sector or certain sectors, its investment portfolio will be more susceptible to the financial, economic, business, and political developments that affect those sectors than a fund that is more diversified. Foreign Securities Risk. Investments in non-U.S. securities involve risks that may not be present with investments in U.S. securities. For example, investments in non-U.S. securities may be subject to risk of loss due to foreign currency fluctuations or to political or economic instability. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may be subject to different accounting, auditing, financial reporting and investor protection standards than U.S. issuers. Changes to the financial condition or credit rating of foreign issuers may also adversely affect the value of the Fund’s securities. Investments in non-U.S. securities may be subject to withholding or other taxes and may be subject to additional trading, settlement, custodial, and operational risks. Because legal systems differ, there is also the possibility that it will be difficult to obtain or enforce legal judgments in some countries. Since foreign exchanges may be open on days when the Fund does not price its Shares, the value of the securities in the Fund’s portfolio may change on days when shareholders will not be able to purchase or sell the Fund’s Shares. Conversely, Shares may trade on days when foreign exchanges are closed. Investment in foreign securities may involve higher costs than investment in U.S. securities, including higher transaction and custody costs as well as the imposition of additional taxes by foreign governments. Each of these factors can make investments in the Fund more volatile and potentially less liquid than other types of investments. <div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--DepositaryReceiptsRisksMember_zI4DUFThfsV9"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Depositary Receipts Risks. Depositary receipts involve risks similar to those associated with investments in foreign securities and certain additional risks. Depositary receipts listed on U.S. exchanges are issued by banks or trust companies and entitle the holder to all dividends and capital gains that are paid out on the underlying foreign shares (“Underlying Shares”). When the Fund invests in depositary receipts as a substitute for an investment directly in the Underlying Shares, the Fund is exposed to the risk that the depositary receipts may not provide a return that corresponds precisely with that of the Underlying Shares. The Fund may invest in unsponsored depositary receipts. The issuers of unsponsored depositary receipts are not obligated to disclose material information in the United States and, therefore, there may be less information available regarding such issuers and there may not be a correlation between such information and the value of the depositary receipts. </td></tr></table> <div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--CurrencyExchangeRateRiskMember_z5uGAAghULi8"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Currency Exchange Rate Risk. The Fund’s assets may include exposure to investments denominated in non-U.S. currencies or in securities or other assets that provide exposure to such currencies. Changes in currency exchange rates and the relative value of non-U.S. currencies will affect the value of the Fund’s investments and the value of Fund shares. Currency exchange rates can be very volatile and can change quickly and unpredictably. As a result, the value of an investment in the Fund may change quickly and without warning and you may lose money.</td></tr></table> <div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsRiskMember_zOZwrXLMxAc6"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Emerging Markets Risk. Investments in emerging market securities impose risks different from, or greater than, risks of investing in foreign developed countries, including significant price volatility and/or restrictions on foreign investment. Emerging market countries may have relatively unstable governments and may present the risk of nationalization of businesses, expropriation, and confiscatory taxation, or, in certain instances, reversion to closed market, centrally planned economies. Emerging market economies may also experience more severe downturns. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries. In addition, less information may be available about companies in emerging markets than in developed markets because such emerging markets companies may not be subject to accounting, auditing and financial reporting standards or to other regulatory practices required by U.S. companies. Such conditions may impact the ability of the Fund to buy, sell or otherwise transfer securities; adversely affect the trading market and price for such securities; and/or cause the Fund to decline in value. </td></tr></table> Economic and Market Risk. Economies and financial markets throughout the world are becoming increasingly interconnected, which increases the likelihood that events or conditions in one country or region will adversely impact markets or issuers in other countries or regions. Securities in the Fund’s portfolio may underperform in comparison to securities in the general financial markets, a particular financial market, or other asset classes, due to a number of factors, including inflation (or expectations for inflation), deflation (or expectations for deflation), interest rates, global demand for particular products or resources, market instability, financial system instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers, regulatory events, other governmental trade or market control programs and related geopolitical events. In addition, the value of the Fund’s investments may be negatively affected by the occurrence of global events such as war, terrorism, environmental disasters, natural disasters or events, country instability, and infectious disease epidemics or pandemics. The imposition by the U.S. of tariffs on goods imported from foreign countries and reciprocal tariffs levied on U.S. goods by those countries also may lead to volatility and instability in domestic and foreign markets. ETF Risks <div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember_z8hLkH3PqjP4"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk. The Fund has a limited number of financial institutions that are authorized to purchase and redeem Shares directly from the Fund (known as “Authorized Participants” or “APs”). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. To the extent either of the following events occur, Shares may trade at a material discount to NAV and possibly face delisting: (i) APs exit the business or otherwise become unable to process creation and/or redemption orders and no other APs step forward to perform these services; or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions.</td></tr></table> <div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--CostsOfBuyingOrSellingSharesMember_z54Vf3TibL1b"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Costs of Buying or Selling Shares. Due to the costs of buying or selling Shares, including brokerage commissions imposed by brokers and bid-ask spreads, frequent trading of Shares may significantly reduce investment results and an investment in Shares may not be advisable for investors who anticipate regularly making small investments.</td></tr></table> <div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--SharesMayTradeAtPricesOtherThanNavMember_zTyoHQaCwtx7"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Shares May Trade at Prices Other Than NAV. As with all ETFs, Shares may be bought and sold in the secondary market at market prices. Although it is expected that the market price of Shares will approximate the Fund’s NAV, there may be times when the market price of Shares is more than the NAV intra-day (premium) or less than the NAV intra-day (discount) due to supply and demand of Shares or during periods of market volatility. This risk is heightened in times of market volatility, periods of steep market declines, and periods when there is limited trading activity for Shares in the secondary market, in which case such premiums or discounts may be significant.</td></tr></table> <div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingMember_zCmdxTxiXMTa"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Trading. Although Shares are listed on a national securities exchange, such as The Nasdaq Stock Market, LLC (the “Exchange”), and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained or that the Shares will trade with any volume, or at all, on any stock exchange. In stressed market conditions, the liquidity of Shares may begin to mirror the liquidity of the Fund’s underlying portfolio holdings, which can be significantly less liquid than Shares. Shares trade on the Exchange at market price that may be below, at or above the Fund’s NAV. 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. In addition, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to the Exchange “circuit breaker” rules. There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged. As a result, the Fund could be adversely affected and be unable to implement its investment strategies in the event of an unscheduled closing.</td></tr></table> Management Risk. The Fund is subject to management risk because it is an actively managed portfolio. In managing the Fund’s investment portfolio, the portfolio managers will apply investment techniques and risk analyses that may not produce the desired result. There can be no guarantee that the Fund will meet its investment objective. Market Capitalization Risks. <div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargecapitalizationInvestingMember_zEoEJekxz7n5"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Large-Capitalization Investing. The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. Large-capitalization companies may also be unable to respond quickly to new competitive challenges, such as changes in technology and consumer tastes. </td></tr></table> <div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MidcapitalizationInvestingMember_zqO6Fy4l25Gi"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Mid-Capitalization Investing. The securities of mid-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large-capitalization companies. The securities of mid-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than large-capitalization stocks or the stock market as a whole. </td></tr></table> <div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallcapitalizationInvestingMember_zzAy2Kjha8Ne"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Small-Capitalization Investing. The securities of small-capitalization companies may be more vulnerable to adverse issuer, market, political, or economic developments than securities of large- or mid-capitalization companies. The securities of small-capitalization companies generally trade in lower volumes and are subject to greater and more unpredictable price changes than large- or mid-capitalization stocks or the stock market as a whole. There is typically less publicly available information concerning smaller-capitalization companies than for larger, more established companies.</td></tr></table> New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions. Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund. As a result, a decline in the value of an investment in a single issuer or a smaller number of issuers could cause the Fund’s overall value to decline to a greater degree than if the Fund held a more diversified portfolio. Operational Risk. The Fund is subject to risks arising from various operational factors, including, but not limited to, human error, processing and communication errors, errors of the Fund’s service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The Fund relies on third-parties for a range of services, including custody. Any delay or failure relating to engaging or maintaining such service providers may affect the Fund’s ability to meet its investment objective. Although the Fund, Adviser, and Sub-Adviser seek to reduce these operational risks through controls and procedures, there is no way to completely protect against such risks. Performance Performance information for the Fund is not included because the Fund has not completed a full calendar year of operations as of the date of this Prospectus. When such information is included, this section will provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance history from year to year and showing how the Fund’s average annual total returns compare with those of the Index and a broad measure of market performance. Although past performance of the Fund is no guarantee of how it will perform in the future, historical performance may give you some indication of the risks of investing in the Fund. Updated performance information will be available on the Fund’s website at www.maytechETF.com. Performance information for the Fund is not included because the Fund has not completed a full calendar year of operations as of the date of this Prospectus. When such information is included, this section will provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance history from year to year and showing how the Fund’s average annual total returns compare with those of the Index and a broad measure of market performance. Although past performance of the Fund is no guarantee of how it will perform in the future, historical performance may give you some indication of the risks of investing in the Fund. www.maytechETF.com Under the Fund’s investment advisory agreement, in exchange for a single unitary management fee from the Fund, the Fund’s adviser has agreed to pay all expenses incurred by the Fund, except for its advisory fee, interest charges on any borrowings, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940 (the “1940 Act”), and litigation expenses, and other non-routine or extraordinary expenses. Estimated for the current year.