0001141819 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:C000251331Member 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member oef:RiskLoseMoneyMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:PassiveInvestmentRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:StockMarketRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:RecentMarketEventsRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:ConcentrationRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:LargeCapCompanyRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:TechnologyCompaniesRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:NewFundRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:ETFRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:ETFRiskAuthorizedParticipantsMarketMakersAndLiquidityProvidersConcentrationRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:ETFRiskCostsOfBuyingOrSellingSharesRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:ETFRiskSharesMayTradeAtPricesOtherThanNAVRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:ETFRIskTradingRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:TrackingErrorRiskMember 2026-09-30 2026-09-30 0001141819 ck0001141819:S000085931Member ck0001141819:CybersecurityRiskMember 2026-09-30 2026-09-30 pure iso4217:USD 485BPOS 0001141819 false 2026-09-29 N-1A TRUST FOR PROFESSIONAL MANAGERS 2026-09-30 Jensen U.S. Quality Index ETF Investment Objective <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Jensen U.S. Quality Index ETF (the “Fund”) seeks to track the performance, before fees and expenses, of the Jensen U.S. Quality Index (the “Index”).</span></div> Fees and Expenses of the Fund <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund (“Shares”). </span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:700;line-height:120%">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.</span></div> Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) 0.0025 0.0000 0.0025 Estimated for the Fund's current fiscal year. 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 either redeem or 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 that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: Although your actual costs may be higher or lower, based on these assumptions your costs would be: 26 26 80 80 Portfolio Turnover <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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 generate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These transaction costs, and potentially higher taxes, which are not reflected in the Total Annual Fund Operating Expenses or in the Example, affect the Fund’s performance. Because the Fund is newly organized, portfolio turnover information is not yet available.</span></div> Principal Investment Strategies <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund is an exchange-traded fund (“ETF”) that employs a “passive management” (or indexing) investment approach </span></div><div style="display:inline-block;vertical-align:top;width:46.365%"><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">designed to track the performance, before fees and expenses, of the Jensen U.S. Quality Index. The Index follows a non-discretionary rules-based methodology (described generally below) to determine the securities included in the Index. The Index is owned and administered by VettaFi LLC (the “Index Provider”), and the Index Provider partnered with Jensen Investment Management, Inc. (the “Adviser”), the Fund’s investment adviser, to co-develop the Index methodology. The Adviser is not involved in the ongoing maintenance of the Index or any discretionary decisions relating to its application, and does not act in the capacity of an index provider.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Jensen U.S. Quality Index</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Index follows a rules-based methodology. The Index is constructed from an initial universe of companies included in the VettaFi US Equity 3000 Index, which represents 3,000 of the largest U.S. equity stocks. The initial universe is then screened and only companies that generate a return on equity of 15% or greater for at least ten consecutive fiscal years are eligible for inclusion in the Index. Companies are then ranked by market capitalization and the largest 100 qualifying stocks are included as Index constituents (each such company, a “Quality Company”). Index constituents are weighted according to their free-float market capitalization. The Index is rebalanced and reconstituted semi-annually, effective on the third Friday of the rebalancing month after market close.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">The Fund’s Investment Strategy</span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund attempts to invest all, or substantially all, of its assets in the component securities that make up the Index. Under normal circumstances, at least 80% of the Fund’s net assets (plus any borrowings for investment purposes) will be invested in “Quality Companies” that are component securities of the Index. The Adviser expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index. However, the Fund may use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics closely resemble the risk, return and other characteristics of the Index as a whole, when the Adviser believes it is in the best interests of the Fund (</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">e.g.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable, or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index).</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund generally may invest up to 20% of its net assets in equity securities listed on U.S. stock exchanges that are not included in the Index, but which the Adviser believes will help </span></div></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">the Fund track the Index. For example, the Fund may invest in equity securities that are not components of the Index such as a different share class of a company's stock than the share class that is a component of the Index.</span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To the extent the Index concentrates (</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">i.e.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, holds more than 25% of its total assets in the securities of a particular industry or group of related industries), the Fund will concentrate its investments to approximately the same extent as the Index. As of the date of this Prospectus, the Index is concentrated in the technology industry or group of industries. </span></div><div style="text-align:justify"><span><br/></span></div><div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund does not try to outperform the Index and does not seek to invest in temporary defensive positions when markets decline or appear overvalued.</span></div> Under normal circumstances, at least 80% of the Fund’s net assets (plus any borrowings for investment purposes) will be invested in “Quality Companies” that are component securities of the Index. To the extent the Index concentrates (i.e., holds more than 25% of its total assets in the securities of a particular industry or group of related industries), the Fund will concentrate its investments to approximately the same extent as the Index. Remember, in addition to possibly not achieving your investment goals, <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:700;line-height:120%">you could lose money by investing in the Fund</span>. <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">Passive Investment Risk</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund invests in the securities included in, or representative of, its Index regardless of their investment merit. The Fund does not attempt to outperform its Index or take defensive positions in declining markets. As a result, the Fund’s performance may be adversely affected by a general decline in the market segments relating to its Index. Generally, the Index Provider does not provide any warranty, or accept any liability, with respect to the quality, accuracy, or completeness of either the Index or its related data.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">Stock Market Risk</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The market value of stocks held by the Fund may decline over a short, or even an extended period of time, resulting in a decrease in the value of a shareholder’s investment.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">Recent Market Events Risk</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including uncertainty regarding inflation and central banks’ interest rate changes, the possibility of a national or global recession, trade tensions and tariffs, political events and geopolitical conflicts. As a result of continuing political tensions and armed conflicts, including the wars in Europe and the Middle East, markets have experienced increased volatility. Continuing market volatility as a result of recent </span></div>market conditions or other events may have an adverse effect on the performance of the Fund. <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10.73pt">Concentration Risk</span>The Fund’s investments will be concentrated in an industry or group of industries to the extent the Index is so concentrated. In such event, the value of Shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries. <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">Large-Cap Company Risk</span>Larger, more established companies may be unable to respond quickly to new competitive challenges such as changes in consumer tastes or innovative smaller competitors. Also, large-cap companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">Technology Companies Risk </span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Technology companies and companies that rely heavily on technological advances may have limited product lines, markets, financial resources, supply chains and personnel. These companies typically face intense competition, potentially rapid product obsolescence and changes in product cycles and customer preferences. They may face unexpected risks and costs associated with technological developments, such as artificial intelligence and machine learning. Technology companies also depend heavily on intellectual property rights and may be adversely affected by the loss or impairment of those rights. Technology companies may face increased government scrutiny and may be subject to adverse government or legal action.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">New Fund Risk </span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund is a recently organized management investment company with no operating history. As a result, prospective investors have a limited track record on which to base their investment decision. There is also a risk that the Fund will not grow to or maintain an economically viable size, in which case it could ultimately liquidate without shareholder approval.</span></div> <div style="padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">ETF Risk</span></div><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Fund is an ETF and, as a result of an ETF’s structure, it is exposed to the following risks:</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund has a limited number of financial institutions that may act as Authorized Participants (“APs”). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. To the </span></div><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Costs of Buying or Selling Shares.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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.</span></div><div style="text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Shares May Trade at Prices Other Than NAV.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> As with all ETFs, Shares may be bought and sold in the secondary market at market prices. As a result, investors in the Fund may pay significantly more or receive significantly less for Shares than the Fund’s NAV. 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.</span></div><div style="padding-left:18pt;text-align:justify"><span><br/></span></div><div style="padding-left:36pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">◦</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Trading. </span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Although Shares are listed for trading on the NYSE Arca, Inc. (the “Exchange”) and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that 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. This could lead to the Fund’s shares trading at a price that is higher or lower than the Fund’s NAV.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Authorized Participants, Market Makers, and Liquidity Providers Concentration Risk.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> The Fund has a limited number of financial institutions that may act as Authorized Participants (“APs”). In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace. To the </span><div style="padding-left:36pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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.</span></div> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Costs of Buying or Selling Shares.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> 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.</span> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Shares May Trade at Prices Other Than NAV.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> As with all ETFs, Shares may be bought and sold in the secondary market at market prices. As a result, investors in the Fund may pay significantly more or receive significantly less for Shares than the Fund’s NAV. 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.</span> <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:14.59pt">Trading. </span>Although Shares are listed for trading on the NYSE Arca, Inc. (the “Exchange”) and may be traded on U.S. exchanges other than the Exchange, there can be no assurance that 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. This could lead to the Fund’s shares trading at a price that is higher or lower than the Fund’s NAV <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:11.94pt">Tracking Error Risk.</span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons. For example, the Fund incurs operating expenses and portfolio transaction costs not incurred by the Index. In addition, the Fund may not be fully invested in the </span></div>securities of the Index at all times or may hold securities not included in the Index. <span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;padding-left:10.73pt">Cybersecurity Risk.</span><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:12pt;font-style:italic;font-weight:400;line-height:120%"> </span><div style="padding-left:18pt;text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">With the Internet and other technologies being essential to conducting business, the Fund is susceptible to operational, information security, and related risks. Cyber incidents affecting the Fund or its service providers have the ability to cause disruptions and impact business operations, potentially resulting in financial losses, interference with the Fund’s ability to calculate its NAV, impediments to trading, the inability of shareholders to transact business, violations of applicable privacy and other laws, regulatory fines, penalties, reputational damage, reimbursement or other compensation costs, or additional compliance costs. The growing use of artificial intelligence and machine learning may introduce new vulnerabilities in cybersecurity.</span></div> Performance <div style="text-align:justify"><span style="color:#000000;font-family:'Univers LT 47 Lt Cn',sans-serif;font-size:10pt;font-weight:400;line-height:120%">When the Fund has been in operation for a full calendar year, performance information will be shown in the Prospectus and will give some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by comparing the Fund’s average annual total returns with those of a broad measure of market performance. The Fund’s past performance, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.jenseninvestment.com or by calling the Fund toll-free at 800-992-4144.</span></div> When the Fund has been in operation for a full calendar year, performance information will be shown in the Prospectus and will give some indication of the risks of investing in the Fund by showing changes in the Fund’s performance from year to year and by comparing the Fund’s average annual total returns with those of a broad measure of market performance. The Fund’s past performance, both before and after taxes, is not necessarily an indication of how the Fund will perform in the future. www.jenseninvestment.com 800-992-4144 Estimated for the Fund's current fiscal year.