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Northern Lights Fund Trust III
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FUND
SUMMARY – HCM SELECT 50 ETF
Investment
Objective:
<p id="xdx_A84_eoef--ObjectivePrimaryTextBlock_z2vMDtYM5QHf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The Fund seeks to provide income and long-term capital appreciation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Fees
and Expenses of the Fund:
<p id="xdx_A8E_eoef--ExpenseNarrativeTextBlock_z0WF9LTJDad5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund.
<b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables
and examples below.</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
<div id="xdx_A8B_eoef--AnnualFundOperatingExpensesTableTextBlock_zntNr2bFgvQg"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zuxP6kKz6Zte" 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; background-color: #C6D9F1">
<td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 85%; text-align: left; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Annual
Fund Operating Expenses<br/>
</b>(expenses that you pay each year<br/>
as a percentage of the value of your investment)</span></td>
<td id="xdx_49A_20261009__20261009__dei--LegalEntityAxis__custom--S000109821Member__oef--ClassAxis__custom--C000280946Member_z5QexDhBwPzb" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; width: 15%; text-align: center; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr id="xdx_401_eoef--ManagementFeesOverAssets_dpn_zyhZ53xaAyFg" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: left; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
Fees</span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.95%</span></td></tr>
<tr id="xdx_40C_eoef--DistributionAndService12b1FeesOverAssets_dpn_z2pud7EzxkCa" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: left; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Distribution
and Service (12b-1) Fees </span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.00%</span></td></tr>
<tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_ztIotBkGVqrf" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: left; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
Expenses </span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.40%</span></td></tr>
<tr id="xdx_409_eoef--ExpensesOverAssets_dpn_zJKISpOuNp28" style="font: 10pt Times New Roman, Times, Serif">
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: left; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Total
Annual Fund Operating Expenses</b></span></td>
<td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding: 1pt 5pt; text-align: center; layout-grid-mode: char"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>1.35%</b></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p>
0.0095
0.0000
0.0040
0.0135
Example:
<p id="xdx_A8A_eoef--ExpenseExampleNarrativeTextBlock_zNEBiW6Skt5k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b>This
Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
The
Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain
the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:
<div id="xdx_A8C_eoef--ExpenseExampleWithRedemptionTableTextBlock_zwezzIBiTgTl"></div>
<table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zqX1eKCsD4hf" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 30%; border-collapse: collapse; margin-right: auto" summary="xdx: Disclosure - Expense Example">
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none; width: 0%"> </td>
<td id="xdx_480_eoef--ExpenseExampleYear01_zZoVhmNFTKri" style="font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">1
Year</span></b></span></td>
<td id="xdx_48B_eoef--ExpenseExampleYear03_zog7jLvKlkaa" style="font: 10pt Times New Roman, Times, Serif; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span style="text-decoration: underline">3
Years</span></b></span></td></tr>
<tr id="xdx_412_20261009__20261009__dei--LegalEntityAxis__custom--S000109821Member__oef--ClassAxis__custom--C000280946Member_z7hoYA083jgh" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$137</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$428</span></td></tr>
<tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<td style="display: none"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td></tr>
</table>
137
428
Portfolio
Turnover:
<p id="xdx_A8E_eoef--PortfolioTurnoverTextBlock_zBX8qwlhsvF8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i></i></b>The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its
portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are
held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund’s
performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Principal
Investment Strategies:
<p id="xdx_A86_eoef--StrategyNarrativeTextBlock_zqqH3bIuqUAh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>The Fund’s investment advisor, Howard Capital Management, LLC (the “Adviser”), actively manages
the Fund’s portfolio using a proprietary investment model co-developed with Ned Davis Research, Inc. to select a portfolio of common
or preferred stocks of any market capitalization of companies from the S&P 500 Index designed to provide investment results that
correspond, before fees and expenses, generally to the performance of the Total Return Scotiabank U.S. Top 50 Large Cap Dividend Index.
At the close of every calendar quarter, the Adviser’s model assigns a score to every constituent of the S&P 500 Index based
on its dividend yield and EBITDA-to-Enterprise Value (“EBITDA/EV”) ratio. The EBITDA/EV ratio compares a company’s earnings
before interest, taxes, depreciation and amortization to its total value to evaluate a company’s return on investment. The EBITDA/EV
ratio is used to determine how much profit a company generates compared to its total value. Each constituent receives a score for its
dividend yield and EBITDA/EV ratio based on a rules-based system, which are then averaged to obtain a composite score. The Adviser selects
the top highest scoring companies (approximately 5) in each of the following 10 sectors for inclusion in the Fund: Energy, Materials,
Industrials, Consumer Discretionary, Consumer Staples, Health Care, Financials, Information Technology, Communication Services and Utilities.
Each company selected for the Fund is equally weighted within its own sector.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Each
position is held by the Fund until the next rescoring of the S&P 500 Index constituents at the end of the next calendar quarter,
unless there is a HCM-BuyLine® signal. After a quarterly rebalancing, the Fund will have equal exposure to every sector. The Adviser
expects the Fund to have a high portfolio turnover as a result of the Fund’s quarterly rebalancing of its portfolio. The Fund may
invest up to 20% of its net assets at any time, including borrowings for investment purposes but exclusive of collateral held from securities
lending, in index futures, options, options on index futures, swap contracts or other derivatives, cash equivalents, other investment
companies.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Adviser uses the HCM-BuyLine®, its proprietary quantitative investment model, to determine when the Fund should be in or out of the
market. The HCM-BuyLine® uses trend analysis to help identify the broad trend in the equity market. When the trend is down, the Adviser
reduces the Fund’s exposure to equities, and, when the trend is up, the Adviser increases the Fund’s exposure to equities.
The Adviser uses its discretion to make tactical allocations and determine how much the Fund is in or out of the market based on the
strength of the trend identified by HCM-BuyLine®.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">When
the Fund is out of the market, it invests in cash and cash equivalents. The Fund may be invested up to 100% in cash and cash equivalents
or up to 100% in equities depending on the strength of the trend identified by the HCM-BuyLine®. To respond to adverse market, economic,
political or other conditions, the Adviser may temporarily hold more cash and cash equivalents than indicated by the HCM-BuyLine®.</span></p>
<p id="xdx_A81_eoef--RiskTextBlock_gRBRTB-SGXXIP_z1wYJe1aJn2j" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>As with all funds, there is a risk that you could lose money through your investment in the Fund. Many factors affect
the Fund’s NAV and performance.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following describes the risks the Fund bears directly or indirectly through investments in other funds. As with any fund, there is no
guarantee that the Fund will achieve its goal.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zt0v7jar2owf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Authorized
Participant Risk: </i>Only an authorized participant that has entered into a contractual arrangement with the Fund’s distributor
may engage in creation or redemption transactions directly with the Fund. The Fund’s distributor has entered into contracts with
only a limited number of institutions that may act as authorized participants on an agency basis (i.e., on behalf of other market participants).
To the extent that authorized participants exit the business or are unable to proceed with creation or redemption orders with respect
to the Fund and no other authorized participant is able to step forward to create or redeem large blocks of shares known as “Creation
Units,” Fund shares (“Shares”) may be more likely to trade at a premium or discount to NAV and possibly face trading
halts or delisting. Authorized participant risk may be heightened for ETFs that invest in non-U.S. securities or other securities or
instruments that have lower trading volumes.</span></p><p id="xdx_A96_zOajjlIFpot3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashOrCashEquivalentsRiskMember_zvZUj6XG2yZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
or Cash Equivalents Risk: </i>At any time, the Fund may have significant investments in cash or cash equivalents. When a substantial
portion of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest,
will not keep pace with inflation, thus reducing purchasing power over time.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_gRBRTB-XISBF_zZn2DoYwFbdj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Derivatives
Risk: </i>Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes
in supply and demand relationships. Trading derivative instruments involves risks different from, or possibly greater than, the risks
associated with investing directly in securities.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_zwgdpmXizQpk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk: </i>The Fund’s use of futures contracts involves risks different from, or possibly greater than, the risks associated with
investing directly in securities and other traditional investments. These risks include (i) leverage risk; (ii) correlation or tracking
risk and (iii) liquidity risk. Because futures require only a small initial investment in the form of a deposit or margin, they involve
a high degree of leverage</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zrGHyrBtL4c6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire premium paid if the underlying security
or index does not decrease in value. When the Fund purchases a call option on a security or index it may lose the entire premium paid
if the underlying security or index does not increase in value. The Fund is also exposed to default by the option writer who may be unwilling
or unable to perform its contractual obligations o the Fund.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_zxltNwZDpm9i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk: </i>Swap agreements are subject to the risk that the counterparty to the swap will default on its obligation to pay the Fund and
the risk that the Fund will not be able to meet its obligations to pay the counterparty to the swap. Swap agreements may also involve
fees, commissions or other costs that may reduce the Fund’s gains from a swap agreement or may cause the Fund to lose money.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendPayingStockRiskMember_z2Bab0r1eQI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividend
Paying Stock Risk: </i>While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies
may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible
to these risks. 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 perform worse than other investment strategies or the overall stock market. The Fund’s
emphasis on dividend paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market.
Also, a company may reduce or eliminate its dividend.</span></p><p id="xdx_A96_z0t2CitWIpC2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p><p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_gRBRTB-NY_zrSHZYdogQma" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>Fluctuations in the value of equity securities held by the Fund causes the NAV of the Fund to fluctuate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommonStockRiskMember_zYkRQvEqOsI5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Stock Risk: </i>Common stock of an issuer in the Fund’s portfolio may decline in price if the issuer fails to make anticipated
dividend payments. Common stock is subject to greater dividend risk than preferred stocks or debt instruments of the same issuer.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zDFg4Nnpx743">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Preferred
Stock Risk: </i>Generally, preferred stockholders have no voting rights with respect to the issuing company unless certain events occur.
In addition, preferred stock is subject to greater credit risk than debt instruments of an issuer, and could be subject to interest rate
risk like fixed income securities.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRiskMember_gRBRTB-TESQ_zXH6o8rYFwQk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>ETF
Structure Risk: </i>The Fund is structured as an ETF and is subject to special risks, including:</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_z92d1k869Vwf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable: </i>Shares are not individually redeemable and may be redeemed by the Fund at NAV only in Creation Units. You
may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zjX9b5aterBb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues: </i>An active trading market for 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 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 Shares.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zJda6R2T3vU8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk: </i>The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV.</span></td></tr></table></div><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--FluctuationOfNetAssetValueRiskMember_zi1czbjfOTyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fluctuation
of Net Asset Value Risk: </i>The NAV of Shares generally fluctuates with changes in the market value of the Fund’s holdings. The
market prices of Shares generally fluctuate in accordance with changes in NAV as well as the relative supply of and demand for the Shares
on the Exchange. The adviser cannot predict whether the Shares will trade below, at or above their NAV.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zZG31xcd3vqk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk: </i>When the Adviser believes market conditions are unfavorable, the Adviser may attempt to “hedge” with defensive
positions and strategies including, for example, holding substantial positions in lower-yield fixed-income securities and/or cash equivalents,
which may limit potential gains when compared to unhedged funds. There can be no assurance that the Fund’s hedging strategy will
reduce the risk of the Fund’s investments.</span></p><p id="xdx_A96_z4GOwvTJL9o4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> </p><p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zmw1xwdyQxRl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large-Capitalization
Company Risk: </i>Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions.
Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader
securities markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_z88DB6FNyLJ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>The increasing interconnectivity between global economies and financial markets increases the likelihood
that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial
market. Securities in the Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates,
global demand for particular products or resources, natural disasters, climate change and climate-related events, pandemics,
epidemics, terrorism, international conflicts, tariffs and trade wars, regulatory events and governmental or quasi-governmental
actions. The occurrence of global events similar to those in recent years may result in market volatility and may have long term
effects on both the U.S. and global financial markets.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelRiskMember_z9oxFYK9MU0h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Model
Risk: </i>Like all quantitative analysis, the Adviser’s scoring system might be based on one or more incorrect assumptions. No
assurance can be given that the Fund will be successful under all or any market conditions.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--NoHistoryOfOperationsRiskMember_zK7jLUWyOwEi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>No
History of Operations Risk: </i>The Fund is a new fund without any history of operations for investors to evaluate.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--PortfolioTurnoverRiskMember_zrk2bYR3BNf3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Portfolio
Turnover Risk: </i>The Fund often buys and sells investments frequently. Such a strategy often involves higher transaction costs, including
brokerage commissions, and may increase the amount of capital gains (in particular, short term gains) realized by the Fund. Shareholders
may pay tax on such capital gains.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SecuritiesMarketRiskMember_zL3vswb92fs3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Securities
Market Risk: </i>The value of securities owned by the Fund may go up or down, sometimes rapidly or unpredictably, due to factors affecting
particular companies or the securities markets generally. A general downturn in the securities market may cause multiple asset classes
to decline in value simultaneously.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p><p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zp67oNW3YQZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>Other investment companies, such as ETFs, in which the Fund invests are subject to investment advisory and other expenses,
which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund is higher than the cost of investing directly
in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds.</span></p>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--AuthorizedParticipantRiskMember_zt0v7jar2owf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Authorized
Participant Risk: </i>Only an authorized participant that has entered into a contractual arrangement with the Fund’s distributor
may engage in creation or redemption transactions directly with the Fund. The Fund’s distributor has entered into contracts with
only a limited number of institutions that may act as authorized participants on an agency basis (i.e., on behalf of other market participants).
To the extent that authorized participants exit the business or are unable to proceed with creation or redemption orders with respect
to the Fund and no other authorized participant is able to step forward to create or redeem large blocks of shares known as “Creation
Units,” Fund shares (“Shares”) may be more likely to trade at a premium or discount to NAV and possibly face trading
halts or delisting. Authorized participant risk may be heightened for ETFs that invest in non-U.S. securities or other securities or
instruments that have lower trading volumes.</span></p>
<p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashOrCashEquivalentsRiskMember_zvZUj6XG2yZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash
or Cash Equivalents Risk: </i>At any time, the Fund may have significant investments in cash or cash equivalents. When a substantial
portion of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest,
will not keep pace with inflation, thus reducing purchasing power over time.</span></p><div id="xdx_C04_gRBRTB-SGXXIP_zcfcfnziO3Cj"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_gRBRTB-XISBF_zZn2DoYwFbdj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Derivatives
Risk: </i>Derivative prices are highly volatile and may fluctuate substantially during a short period of time. Such prices are influenced
by numerous factors that affect the markets, including, but not limited to: changing supply and demand relationships; government programs
and policies; national and international political and economic events, changes in interest rates, inflation and deflation and changes
in supply and demand relationships. Trading derivative instruments involves risks different from, or possibly greater than, the risks
associated with investing directly in securities.</span></p><div id="xdx_C0D_gRBRTB-SGXXIP_zMV02TWnUMac"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C02_gRBRTB-SGXXIP_zJFJ1LIG96Ig"><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_zwgdpmXizQpk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk: </i>The Fund’s use of futures contracts involves risks different from, or possibly greater than, the risks associated with
investing directly in securities and other traditional investments. These risks include (i) leverage risk; (ii) correlation or tracking
risk and (iii) liquidity risk. Because futures require only a small initial investment in the form of a deposit or margin, they involve
a high degree of leverage</span></td></tr></table></div></div><div id="xdx_C0B_gRBRTB-SGXXIP_zAz7Es8wDQ0h"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C0A_gRBRTB-SGXXIP_zSMkQ9S6PLf4"><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zrGHyrBtL4c6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire premium paid if the underlying security
or index does not decrease in value. When the Fund purchases a call option on a security or index it may lose the entire premium paid
if the underlying security or index does not increase in value. The Fund is also exposed to default by the option writer who may be unwilling
or unable to perform its contractual obligations o the Fund.</span></td></tr></table></div></div><div id="xdx_C08_gRBRTB-SGXXIP_zIS1XkuxeYn1"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C08_gRBRTB-SGXXIP_zNqfKByTFwY6"><div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_zxltNwZDpm9i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk: </i>Swap agreements are subject to the risk that the counterparty to the swap will default on its obligation to pay the Fund and
the risk that the Fund will not be able to meet its obligations to pay the counterparty to the swap. Swap agreements may also involve
fees, commissions or other costs that may reduce the Fund’s gains from a swap agreement or may cause the Fund to lose money.</span></td></tr></table></div></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--FuturesRiskMember_zwgdpmXizQpk">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Futures
Risk: </i>The Fund’s use of futures contracts involves risks different from, or possibly greater than, the risks associated with
investing directly in securities and other traditional investments. These risks include (i) leverage risk; (ii) correlation or tracking
risk and (iii) liquidity risk. Because futures require only a small initial investment in the form of a deposit or margin, they involve
a high degree of leverage</span></td></tr></table></div><div id="xdx_C01_gRBRTB-XISBF_zZfdbZ6hK01b"><div id="xdx_C0B_gRBRTB-SGXXIP_zAz7Es8wDQ0h"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zrGHyrBtL4c6">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Options
Risk: </i>When the Fund purchases a put option on a security or index it may lose the entire premium paid if the underlying security
or index does not decrease in value. When the Fund purchases a call option on a security or index it may lose the entire premium paid
if the underlying security or index does not increase in value. The Fund is also exposed to default by the option writer who may be unwilling
or unable to perform its contractual obligations o the Fund.</span></td></tr></table></div><div id="xdx_C0A_gRBRTB-XISBF_zoPhzMpKWeG1"><div id="xdx_C08_gRBRTB-SGXXIP_zIS1XkuxeYn1"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SwapsRiskMember_zxltNwZDpm9i">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Swaps
Risk: </i>Swap agreements are subject to the risk that the counterparty to the swap will default on its obligation to pay the Fund and
the risk that the Fund will not be able to meet its obligations to pay the counterparty to the swap. Swap agreements may also involve
fees, commissions or other costs that may reduce the Fund’s gains from a swap agreement or may cause the Fund to lose money.</span></td></tr></table></div><div id="xdx_C09_gRBRTB-SGXXIP_zw2jFqrw6Wf3"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--DividendPayingStockRiskMember_z2Bab0r1eQI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Dividend
Paying Stock Risk: </i>While the Fund may hold securities of companies that have historically paid a high dividend yield, those companies
may reduce or discontinue their dividends, reducing the yield of the Fund. Low priced securities in the Fund may be more susceptible
to these risks. 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 perform worse than other investment strategies or the overall stock market. The Fund’s
emphasis on dividend paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market.
Also, a company may reduce or eliminate its dividend.</span></p>
<p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquitySecuritiesRiskMember_gRBRTB-NY_zrSHZYdogQma" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Equity
Securities Risk: </i>Fluctuations in the value of equity securities held by the Fund causes the NAV of the Fund to fluctuate.</span></p><div id="xdx_C02_gRBRTB-SGXXIP_zy9qXUpcZusk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C08_gRBRTB-SGXXIP_zX90sBcVcrRf"><div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommonStockRiskMember_zYkRQvEqOsI5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Stock Risk: </i>Common stock of an issuer in the Fund’s portfolio may decline in price if the issuer fails to make anticipated
dividend payments. Common stock is subject to greater dividend risk than preferred stocks or debt instruments of the same issuer.</span></td></tr></table></div></div><div id="xdx_C0E_gRBRTB-SGXXIP_zMTJRDfenomd"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C02_gRBRTB-SGXXIP_zTJIX9bitq05"><div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zDFg4Nnpx743">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Preferred
Stock Risk: </i>Generally, preferred stockholders have no voting rights with respect to the issuing company unless certain events occur.
In addition, preferred stock is subject to greater credit risk than debt instruments of an issuer, and could be subject to interest rate
risk like fixed income securities.</span></td></tr></table></div></div>
<div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommonStockRiskMember_zYkRQvEqOsI5">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Common
Stock Risk: </i>Common stock of an issuer in the Fund’s portfolio may decline in price if the issuer fails to make anticipated
dividend payments. Common stock is subject to greater dividend risk than preferred stocks or debt instruments of the same issuer.</span></td></tr></table></div><div id="xdx_C03_gRBRTB-NY_zgRfhC7wjcQg"><div id="xdx_C0E_gRBRTB-SGXXIP_zMTJRDfenomd"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--PreferredStockRiskMember_zDFg4Nnpx743">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Preferred
Stock Risk: </i>Generally, preferred stockholders have no voting rights with respect to the issuing company unless certain events occur.
In addition, preferred stock is subject to greater credit risk than debt instruments of an issuer, and could be subject to interest rate
risk like fixed income securities.</span></td></tr></table></div><div id="xdx_C07_gRBRTB-SGXXIP_zfehGB7NvBsk"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ETFStructureRiskMember_gRBRTB-TESQ_zXH6o8rYFwQk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>ETF
Structure Risk: </i>The Fund is structured as an ETF and is subject to special risks, including:</span></p><div id="xdx_C04_gRBRTB-SGXXIP_z0Zt8C0hlIxk"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<div id="xdx_C0B_gRBRTB-SGXXIP_zMCFdtERRuHe"><div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_z92d1k869Vwf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable: </i>Shares are not individually redeemable and may be redeemed by the Fund at NAV only in Creation Units. You
may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</span></td></tr></table></div></div><div id="xdx_C06_gRBRTB-SGXXIP_zXiRP9Bjb45g"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C01_gRBRTB-SGXXIP_zaU1yZrSBPY3"><div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zjX9b5aterBb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues: </i>An active trading market for 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 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 Shares.</span></td></tr></table></div></div><div id="xdx_C02_gRBRTB-SGXXIP_zeMXKrVkZotb"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div><div id="xdx_C00_gRBRTB-SGXXIP_zV51zKvkNbW"><div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zJda6R2T3vU8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk: </i>The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV.</span></td></tr></table></div></div>
<div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--NotIndividuallyRedeemableMember_z92d1k869Vwf">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Not
Individually Redeemable: </i>Shares are not individually redeemable and may be redeemed by the Fund at NAV only in Creation Units. You
may incur brokerage costs purchasing enough Shares to constitute a Creation Unit.</span></td></tr></table></div><div id="xdx_C07_gRBRTB-TESQ_zg50N69Af8Ph"><div id="xdx_C06_gRBRTB-SGXXIP_zXiRP9Bjb45g"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingIssuesMember_zjX9b5aterBb">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Trading
Issues: </i>An active trading market for 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 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 Shares.</span></td></tr></table></div><div id="xdx_C08_gRBRTB-TESQ_zV28Qv6LMes3"><div id="xdx_C02_gRBRTB-SGXXIP_zeMXKrVkZotb"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div></div>
<div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketPriceVarianceRiskMember_zJda6R2T3vU8">
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"></td><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">○</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
Price Variance Risk: </i>The market prices of Shares will fluctuate in response to changes in NAV and supply and demand for Shares and
will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular
security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to
NAV.</span></td></tr></table></div><div id="xdx_C04_gRBRTB-SGXXIP_ze8z8kizruLi"><p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--FluctuationOfNetAssetValueRiskMember_zi1czbjfOTyb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Fluctuation
of Net Asset Value Risk: </i>The NAV of Shares generally fluctuates with changes in the market value of the Fund’s holdings. The
market prices of Shares generally fluctuate in accordance with changes in NAV as well as the relative supply of and demand for the Shares
on the Exchange. The adviser cannot predict whether the Shares will trade below, at or above their NAV.</span></p><div id="xdx_C0A_gRBRTB-SGXXIP_zyajtBuVDFKd"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--HedgingRiskMember_zZG31xcd3vqk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Hedging
Risk: </i>When the Adviser believes market conditions are unfavorable, the Adviser may attempt to “hedge” with defensive
positions and strategies including, for example, holding substantial positions in lower-yield fixed-income securities and/or cash equivalents,
which may limit potential gains when compared to unhedged funds. There can be no assurance that the Fund’s hedging strategy will
reduce the risk of the Fund’s investments.</span></p>
<p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCapitalizationCompanyRiskMember_zmw1xwdyQxRl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Large-Capitalization
Company Risk: </i>Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions.
Large capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies.
During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader
securities markets.</span></p><div id="xdx_C08_gRBRTB-SGXXIP_z0NEqBJtjLz2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_z88DB6FNyLJ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Market
and Geopolitical Risk: </i>The increasing interconnectivity between global economies and financial markets increases the likelihood
that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial
market. Securities in the Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates,
global demand for particular products or resources, natural disasters, climate change and climate-related events, pandemics,
epidemics, terrorism, international conflicts, tariffs and trade wars, regulatory events and governmental or quasi-governmental
actions. The occurrence of global events similar to those in recent years may result in market volatility and may have long term
effects on both the U.S. and global financial markets.</span></p><div id="xdx_C06_gRBRTB-SGXXIP_zro9d4u3pm9h"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--ModelRiskMember_z9oxFYK9MU0h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Model
Risk: </i>Like all quantitative analysis, the Adviser’s scoring system might be based on one or more incorrect assumptions. No
assurance can be given that the Fund will be successful under all or any market conditions.</span></p><div id="xdx_C00_gRBRTB-SGXXIP_z1lZCY24ApGi"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--NoHistoryOfOperationsRiskMember_zK7jLUWyOwEi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>No
History of Operations Risk: </i>The Fund is a new fund without any history of operations for investors to evaluate.</span></p><div id="xdx_C06_gRBRTB-SGXXIP_z6KEAxIOa3Of"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--PortfolioTurnoverRiskMember_zrk2bYR3BNf3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Portfolio
Turnover Risk: </i>The Fund often buys and sells investments frequently. Such a strategy often involves higher transaction costs, including
brokerage commissions, and may increase the amount of capital gains (in particular, short term gains) realized by the Fund. Shareholders
may pay tax on such capital gains.</span></p><div id="xdx_C04_gRBRTB-SGXXIP_zlJk6nVNKhfc"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8B_eoef--RiskTextBlock_hoef--RiskAxis__custom--SecuritiesMarketRiskMember_zL3vswb92fs3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Securities
Market Risk: </i>The value of securities owned by the Fund may go up or down, sometimes rapidly or unpredictably, due to factors affecting
particular companies or the securities markets generally. A general downturn in the securities market may cause multiple asset classes
to decline in value simultaneously.</span></p><div id="xdx_C03_gRBRTB-SGXXIP_zkBxQTC6yoWb"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p></div>
<p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--UnderlyingFundsRiskMember_zp67oNW3YQZg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Underlying
Funds Risk: </i>Other investment companies, such as ETFs, in which the Fund invests are subject to investment advisory and other expenses,
which will be indirectly paid by the Fund. As a result, the cost of investing in the Fund is higher than the cost of investing directly
in the Underlying Funds and may be higher than other funds that invest directly in stocks and bonds.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
Performance:
<p id="xdx_A8E_eoef--PerformanceNarrativeTextBlock_zvFhWVrLUy53" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b><span id="xdx_908_eoef--PerformanceOneYearOrLess_c20261009__20261009__dei--LegalEntityAxis__custom--S000109821Member_zOWK2XT2T7z4">Because
the Fund has only recently commenced investment operations, no performance information is presented for the Fund at this time.</span> In the
future, performance information will be presented in this section of the Prospectus. Also, shareholder reports containing financial and
performance information will be mailed to shareholders semi-annually. Updated performance information is available at no cost by visiting
<span style="text-decoration: underline"><span id="xdx_908_eoef--PerformanceAvailabilityWebSiteAddress_c20261009__20261009__dei--LegalEntityAxis__custom--S000109821Member_zSbSKvHA0LL8">www.howardcmetfs.com</span></span> or by calling <span id="xdx_909_eoef--PerformanceAvailabilityPhone_c20261009__20261009__dei--LegalEntityAxis__custom--S000109821Member_zIZOJc9KY3m1">1-770-642-4902</span>.</span></p>
Because
the Fund has only recently commenced investment operations, no performance information is presented for the Fund at this time.
www.howardcmetfs.com
1-770-642-4902