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margin: 0pt 0; text-align: justify">The Eagle Capital Select Equity ETF (the “Fund”) seeks to generate investment returns superior to U.S. equity markets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> Fund Fees and Expenses <p id="xdx_A8A_eoef--ExpenseNarrativeTextBlock_zoVs4X9sI776" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Fund. <b>You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div id="xdx_A8A_eoef--AnnualFundOperatingExpensesTableTextBlock_z4KaaSeaUiJh"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_znjUQ5sEdO57" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td id="xdx_98C_eoef--OperatingExpensesCaption_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zPFJ7PDkmQm" style="border-top: black 3pt solid; border-bottom: black 1pt solid; width: 93%"><b>Annual Fund Operating Expenses</b> (Expenses that you pay each year as a percentage of the value of your investment)</td> <td id="xdx_49D_20261028__20261028__oef--ClassAxis__custom--C000244572Member_zxwaHwMxVVI5" style="border-top: black 3pt solid; border-bottom: black 1pt solid; width: 7%"> </td></tr> <tr id="xdx_40F_eoef--ManagementFeesOverAssets_dp_zIifLhrZdqTl"> <td>Management fee</td> <td style="text-align: center">0.80%</td></tr> <tr id="xdx_406_eoef--DistributionAndService12b1FeesOverAssets_dp_ztTTjc6Gn4N8"> <td>Distribution and service (12b-1) fees</td> <td style="text-align: center">0.00%</td></tr> <tr id="xdx_40E_eoef--OtherExpensesOverAssets_dp_zYbVU23BGof"> <td>Other expenses</td> <td style="border-bottom: Black 1pt solid; text-align: center">0.00%</td></tr> <tr id="xdx_408_eoef--ExpensesOverAssets_dp_zfNDzlO5ERAj"> <td>Total annual Fund operating expenses</td> <td style="text-align: center">0.80%</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> Annual Fund Operating Expenses (Expenses that you pay each year as a percentage of the value of your investment) 0.0080 0.0000 0.0000 0.0080 Example <p id="xdx_A89_eoef--ExpenseExampleNarrativeTextBlock_zt8RbCXd4iA4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell 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 as shown in the Annual Fund Operating Expenses table above. Although your actual costs may be higher or lower, based on these assumptions your costs would be:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div id="xdx_A86_eoef--ExpenseExampleWithRedemptionTableTextBlock_zATfmjTLLxe5"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5B_dU_zk3hTDX1axRl" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top"> <td id="xdx_482_eoef--ExpenseExampleYear01_zqeC1qR2sLa9" style="border-top: black 1pt solid; width: 25%; text-align: center"><b>1 Year</b></td> <td id="xdx_48F_eoef--ExpenseExampleYear03_zGxNDLOJWF9a" style="border-top: black 1pt solid; width: 25%; text-align: center"><b>3 Years</b></td> <td id="xdx_485_eoef--ExpenseExampleYear05_zlJViBXK6rc8" style="border-top: black 1pt solid; width: 25%; text-align: center"><b>5 Years</b></td> <td id="xdx_487_eoef--ExpenseExampleYear10_zuHJ8Mwifov7" style="border-top: black 1pt solid; width: 25%; text-align: center"><b>10 Years</b></td></tr> <tr id="xdx_41E_20261028__20261028__oef--ClassAxis__custom--C000244572Member_z3Bm8qMxqPj" style="vertical-align: top"> <td style="border-bottom: black 1pt solid; text-align: center">$82</td> <td style="border-bottom: black 1pt solid; text-align: center">$255</td> <td style="border-bottom: black 1pt solid; text-align: center">$444</td> <td style="border-bottom: black 1pt solid; text-align: center">$990</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 82 255 444 990 Portfolio Turnover <p id="xdx_A84_eoef--PortfolioTurnoverTextBlock_zkduJUsa7XM3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover 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 above, affect the Fund’s performance. For the fiscal year ended June 30, 2026, the Fund’s portfolio turnover rate was <span id="xdx_905_eoef--PortfolioTurnoverRate_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zag7c7X7knVc">23%</span> of the average value of its portfolio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> 0.23 Principal Investment Strategies <p id="xdx_A8E_eoef--StrategyNarrativeTextBlock_ze7e4RHrqHsa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to attain its investment objective by utilizing a long only investment strategy and by investing primarily in the equity securities of companies that Eagle Capital Management, LLC (the “Adviser”) believes are undervalued. The Adviser believes there is an opportunity to capture excess returns (i.e., alpha) when a longer-term perspective is taken, and, as such, many of the Fund’s investments are expected to be made with a five to seven year holding period in mind. However, the Adviser also expects that, from time to time, sharp short-term price fluctuations or other market events may dictate sales outside of this expected holding period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_901_eoef--StrategyPortfolioConcentration_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zjrK8gtkuOjh">Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities, namely common or preferred shares of U.S. or non-U.S. companies, shares of other investment companies that invest primarily in equity securities, and depositary receipts, such as American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”), representing an interest in a foreign equity security. </span>When investing in another investment company, the Fund will consider whether such investment company has an 80% policy to invest in equity securities for purposes of determining whether to treat an investment therein toward the Fund’s 80% policy or, if the investment company does not have such an 80% policy, the Fund will consider the underlying investment company’s portfolio holdings.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The investment process for the Fund involves deep fundamental analysis. The Adviser will seek to identify change early, ahead of the general market to minimize risk and maximize upside potential.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A stock is generally added to the Fund’s portfolio when the Adviser believes that: (1) the issuer’s underlying assets are strong enough to generate cash flow and maintain a value floor for the investment, even in times of stress and (2) there is some change afoot that is unrecognized by the market and likely to be valuable in the future. The Adviser assesses the price of a security relative to the Adviser’s estimate of its long-term intrinsic value. Rather than anchoring on a specific metric (e.g., low price to earnings or price to book ratios), the Adviser’s team analyzes and debates items that may include business changes, growth prospects, margins, industry forces and valuation scenarios out 5 to 10 years, seeking to identify a “margin of safety” based on factors such as valuation discount, resilience, growth opportunities and strong management. Full investment positions to be acquired by the Fund are often acquired over time except in cases where the Adviser believes that the opportunity to purchase at an attractive value will be fleeting.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A stock is generally sold when it meets the Adviser’s investment criteria for doing so, which may include one or more of the following considerations: (1) the investment no longer has the characteristics discussed above, (2) a new investment offers better relative risk/reward, (3) the growth opportunities for the investment are not materializing and/or the issuer’s fundamentals deteriorate, (4) the position approaches any maximum exposure the Adviser has set for the position, and/or (5) the price is appreciating at a faster pace than what the Adviser believes is the investment’s intrinsic value. The Adviser engages in rigorous ongoing and iterative research, examining material risks to its portfolio, monitoring for new threats, and testing investment rationales.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund’s portfolio generally consists of the Adviser’s 20-35 best investment opportunities at any time. The Fund will focus on investments in U.S. equity securities, with a secondary focus on international equity securities, including emerging markets. In selecting equity securities for the Fund, the Adviser will generally focus on large capitalization companies, which the Adviser considers to be companies with more than $20 billion in market capitalization at the time of initial purchase. However, the Adviser may invest in companies of any size or capitalization. While investing in a particular market sector is not a strategy of the Fund, its portfolio may be significantly invested in one or more sectors as a result of the security selection decisions made pursuant to its strategy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund may pursue its investment objective and obtain exposure to some or all of its investment strategies by investing in other investment companies, including, for example, other open-end or closed-end investment companies and ETFs.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund is classified as “non-diversified” under the Investment Company Act of 1940 (the “1940 Act”), which means that it may invest a larger percentage of its assets in a smaller number of issuers than a diversified fund.</p> Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in equity securities, namely common or preferred shares of U.S. or non-U.S. companies, shares of other investment companies that invest primarily in equity securities, and depositary receipts, such as American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”), representing an interest in a foreign equity security.  As with all funds, a shareholder is subject to the risk that his or her investment could lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency.  <div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ManagementRiskMember_z8aClfxpkbN7"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Management Risk. </i>The Fund is actively-managed and may not meet its investment objective based on the Adviser’s success or failure to implement investment strategies for the Fund. The Fund’s principal investment strategies are dependent upon the Adviser’s security selection process and, as a result, the Adviser’s skill in understanding and utilizing such process. The achievement of the investment objective of the Fund cannot be guaranteed and the Adviser’s management of the Fund may not produce the intended results.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--CommonStockRiskMember_znknBEw7lT9c"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Common Stock Risk. </i>The value of the common stock held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or facts relating to specific companies in which the Fund invests.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zCrXx1DhMnoj"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Market Risk. </i>A number of factors can affect financial markets generally, which in turn, can impact the value of the Fund’s investments. Economic considerations such as GDP growth, inflation, interest rates, monetary and fiscal policy, barriers to capital formation and reinvestment, market instability, and budgetary deficits are key considerations in how overall markets perform. Political factors, including elections and political instability and unrest, foreign or domestic, can affect the extent to which investors choose to participate in financial markets. In addition, the impact of any epidemic, pandemic or natural disaster, or widespread fear that such events may occur, could negatively affect the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseeable ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which the Fund invests, which in turn could negatively impact the Fund’s performance and cause losses on your investment in the Fund.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--EtfRisksMember_z9NsuO4vxPT8"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>ETF Risks. </i>The Fund is an exchange-traded fund and, as a result of this structure, it is exposed to the following risks:</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--CostsOfBuyingOrSellingSharesRiskMember_z8ZFQNrt9Vn9"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">○</td><td style="text-align: justify"><i>Costs of Buying or Selling Shares Risk</i>. Due to the costs of buying or selling Fund shares, including brokerage commissions imposed by brokers and the variance in bid-ask spreads, frequent trading of Fund shares may significantly reduce investment results and an investment in Fund shares may not be advisable for investors who anticipate regularly making small investments.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitedAuthorizedParticipantsMarketMakersAndLiquidityProvidersRiskMember_zrO67H6JWSzg"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">○</td><td style="text-align: justify"><i>Limited Authorized Participants, Market Makers and Liquidity Providers Risk</i>. Because the Fund is an ETF, only a limited number of institutional investors (known as “Authorized Participants”) are authorized to purchase and redeem shares directly from the Fund. Retail investors cannot transact directly with the Fund. In addition, there may be a limited number of market makers and/or liquidity providers in the marketplace to transact in Fund shares, there may be demand for Fund shares thereby increasing the market price above NAV, or lack of demand, which may decrease the market price below NAV, or in stressed market conditions, the market for Fund shares may become less liquid in response to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings. As a result of these considerations, Fund shares may trade at a material premium or discount to NAV or these factors may, in turn, lead to wider spreads between the bid and ask price of Fund shares. In addition, the Fund may face possible delisting if: (i) Authorized Participants exit the business or otherwise become unable to process creation and/or redemption orders and no other Authorized Participants step forward to perform these services, or (ii) market makers and/or liquidity providers exit the business or significantly reduce their business activities and no other entities step forward to perform their functions. </td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--TradingRiskMember_zb3nK3NoNPWd"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">○</td><td style="text-align: justify"><i>Trading Risk.</i> Shares of the Fund may trade on the NYSE Arca, Inc. (the “Exchange”) above (premium) or below (discount) their net asset value (“NAV”). In stressed market conditions, the market for Fund shares may become less liquid in response to deteriorating liquidity in the markets for the Fund’s underlying portfolio holdings, which may increase the variance between the market price of the Fund shares and the value of its underlying holdings. This can be reflected as a spread between the bid and ask prices for the Fund shares quoted during the day or a premium or discount in the closing price from the Fund’s NAV. In addition, although the Fund’s shares are currently listed on the Exchange, there can be no assurance that an active trading market for Fund shares will develop or be maintained. Trading in Fund shares may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in shares of the Fund inadvisable.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__oef--RiskNondiversifiedStatusMember_zgUBzxJyXJu8"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Non-Diversification Risk. </i>The Fund is non-diversified, which means that it may invest in the securities of fewer issuers than a diversified Fund. As a result, the Fund may be more susceptible to a single adverse corporate, economic or political occurrence affecting one or more of these issuers, and may experience increased volatility due to its investments in those securities.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargecapitalizationCompanyRiskMember_zrPA92cUpTx6"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Large-Capitalization Company Risk. </i>The large capitalization companies in which the Fund may invest may lag the performance of smaller capitalization companies because large capitalization companies may experience slower rates of growth than smaller capitalization companies and may not respond as quickly to market changes and opportunities.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerspecificRiskMember_zZH6JJNwnIId"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Issuer-Specific Risk</i>. Fund performance depends on the performance of the issuers to which the Fund has exposure. Issuer-specific events, including changes in the financial condition of an issuer, can have a negative impact on the value of the Fund.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SectorFocusRiskMember_z3g1R3V1ilc7"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Sector Focus Risk</i>. To the extent the Fund invests a significant portion of its assets in a particular sector, the Fund may be susceptible to loss due to adverse occurrences affecting that sector. While the Fund’s sector exposure is expected to vary over time, the Fund anticipates that it may be subject to some or all of the risks described below. The list below is not a comprehensive list of the sectors to which the Fund may have exposure over time and should not be relied on as such.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div style="display: none"><span id="xdx_91C_exdx--NextElement_z6hTo4YIBZPj"></span></div> <div id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConsumerDiscretionarySectorRiskMember_zeW7X7ZfRztl"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><i>Consumer Discretionary Sector Risk.</i> The success of consumer product manufacturers, retailers, and other consumer discretionary companies is closely tied to domestic and global economic conditions, interest rates, competition, consumer confidence, disposable household income, and consumer spending. Companies in this sector may face intense competition that adversely affects their profitability. Changes in demographics, consumer preferences, and consumer tastes may also reduce demand for their products and services.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div style="display: none"><span id="xdx_91B_exdx--NextElement_zAgrUZTNMVwb"></span></div> <div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--InformationTechnologySectorRiskMember_zx6y5FL76JQ2"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><i>Information Technology Sector Risk.</i> Information technology companies may be adversely affected by rapid changes in technology, short product cycles, product obsolescence, intense competition, aggressive pricing, reduced profit margins, government regulation, cybersecurity incidents and changes in consumer preferences. These companies may have limited product lines, markets, financial resources or personnel and may depend heavily on patent, copyright, trademark and other intellectual property protections. The loss or impairment of those rights could adversely affect a company’s profitability. Securities of information technology companies may also experience greater price volatility than securities of companies in other sectors.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div style="display: none"><span id="xdx_91E_exdx--NextElement_ztn62yRZQhdi"></span></div> <div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--FinancialSectorRiskMember_zMPa3A97xvec"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top; 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">o</span></td><td style="text-align: justify"><i>Financial Sector Risk. </i>Companies in the financial sector are subject to governmental regulation and intervention, which may adversely affect the scope of their activities, the prices they can charge and the amount of capital they must maintain. Governmental regulation may change frequently, and may have adverse consequences for companies in the financial sector, including effects not intended by such regulation. The impact of recent or future regulation in various countries on any individual financial company or on the sector, as a whole, is not known.</td> </tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: -0.25in"> </p> <div style="display: none"><span id="xdx_918_exdx--NextElement_zgOMoTFyhei8"></span></div> <div id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--HealthCareSectorRiskMember_zXmMVjhFohX3"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">o</span></td><td style="text-align: justify"><i>Health Care Sector Risk. </i>Companies in the health care sector are subject to extensive government regulation and their profitability can be significantly affected by restrictions on government reimbursement for medical expenses, rising costs of medical products and services, pricing pressure (including price discounting), limited product lines and an increased emphasis on the delivery of healthcare through outpatient services. Companies in the health care sector are heavily dependent on obtaining and defending patents, which may be time consuming and costly, and the expiration of patents may also adversely affect the profitability of these companies. Health care companies are also subject to extensive litigation based on product liability and similar claims. In addition, their products can become obsolete due to industry innovation, changes in technologies or other market developments. Many new products in the health care sector require significant research and development and may be subject to regulatory approvals, all of which may be time consuming and costly with no guarantee that any product will come to market.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallAndMidcapitalizationCompanyRiskMember_zOynfYjUyZOi"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Small- and Mid-Capitalization Company Risk</i>. The small- and mid-capitalization companies in which the Fund invests may be more vulnerable to adverse business or economic events than larger, more established companies, and may underperform other segments of the market or the equity market as a whole. Securities of small- and mid-capitalization companies generally trade in lower volumes, are often more vulnerable to market volatility, and are subject to greater and more unpredictable price changes than larger capitalization stocks or the stock market as a whole.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--DepositaryReceiptRiskMember_zD9Ai33S40lh"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Depositary Receipt Risk</i>. ADRs and GDRs are subject to the risks associated with investing directly in foreign securities. In addition, investments in ADRs and GDRs may be less liquid than the underlying shares in their primary trading market. </td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zWnhpY4qNNo2"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Foreign Securities Risk.  </i>Investments in non-U.S. securities involve certain risks that may not be present with investments in U.S. securities. For example, investments in non-U.S. securities may be subject to risk of loss due to foreign currency fluctuations or to expropriation, nationalization or adverse political or economic developments. Foreign securities may have relatively low market liquidity and decreased publicly available information about issuers. Investments in non-U.S. securities also may be subject to withholding or other taxes and may be subject to additional trading, settlement, custodial, and operational risks. Non-U.S. issuers may also be subject to inconsistent and potentially less stringent accounting, auditing, financial reporting and investor protection standards than U.S. issuers. These and other factors can make investments in the Fund more volatile and potentially less liquid than other types of investments. In addition, where all or a portion of the Fund’s portfolio holdings trade in markets that are closed when the Fund’s market is open, there may be changes between the last quote from its closed foreign market and the value of such security during the Fund’s domestic trading day. This in turn could lead to differences between the market price of the Fund’s shares and the underlying value of those shares.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfInvestingInEuropeAndUnitedKingdomMember_zVNstUfzFIS3"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">○</td><td style="text-align: justify"><i>Risks of Investing in Europe and the United Kingdom</i>. To the extent that the Fund has direct or indirect investments in issuers located in Europe and the United Kingdom (“UK”), the Fund may be affected by the fiscal and monetary controls of the Economic and Monetary Union of the European Union (“EU”).  The UK formally withdrew from the EU (commonly referred to as “Brexit”) under the terms of a new trade agreement on December 31, 2020. The agreement governs the relationship between the UK and EU with respect to trading goods and services, but critical aspects of the relationship remain unresolved and subject to further negotiation and agreement. The full scope and nature of the consequences of the exit are not at this time known and are unlikely to be known for a significant period of time.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignCurrencyRiskMember_zeeasTp88fF8"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Foreign Currency Risk. </i>Fund investments in foreign currencies and securities denominated in foreign currencies are subject to currency risk. As a result, the value of securities denominated in foreign currencies can change significantly when foreign currencies strengthen or weaken relative to the U.S. dollar. ADRs indirectly bear currency risk because they represent an interest in securities that are not denominated in U.S. dollars. The value of the Fund’s assets measured in U.S. dollars can also be affected by exchange control regulations. The Fund will generally incur transaction costs in connection with conversions between various currencies which will negatively impact performance.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--EmergingMarketsSecuritiesRiskMember_z7azUC7DtAvg"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Emerging Markets Securities Risk. </i>Investments in emerging markets securities are considered speculative and subject to heightened risks in addition to the general risks of investing in foreign securities. Unlike more established markets, emerging markets may have governments that are less stable, markets that are less liquid and economies that are less developed. In addition, the securities markets of emerging market countries may consist of companies with smaller market capitalizations and may suffer periods of relative illiquidity, significant price volatility, restrictions on foreign investment, and possible restrictions on repatriation of investment income and capital. Furthermore, foreign investors may be required to register the proceeds of sales, and future economic or political crises could lead to price controls, forced mergers, expropriation or confiscatory taxation, seizure, nationalization or creation of government monopolies. Non-U.S. issuers may also be subject to inconsistent and potentially less stringent accounting, auditing, financial reporting and investor protection standards than U.S. issuers. These and other factors can make investments in the Fund more volatile and potentially less liquid than other types of investments. Differences in regulatory, accounting, auditing, and financial reporting and recordkeeping standards could impede the Adviser’s ability to evaluate local companies and impact the Fund’s performance. Investments in securities of issuers in emerging markets may also be exposed to risks related to a lack of liquidity, greater potential for market manipulation, issuers’ limited reliable access to capital, and foreign investment structures. Additionally, the Fund may have limited rights and remedies available to it to pursue claims against issuers in emerging markets.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--RisksOfInvestingInChinaMember_zGkfHTC3utSh"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">○</td><td style="text-align: justify"><i>Risks of Investing in China. </i>To the extent that the Fund has direct or indirect investments in Chinese securities, including certain Hong Kong-listed and U.S.-listed securities, it will be subject to risks specific to the People’s Republic of China (“China”). There is a greater risk in China than in many other countries of currency fluctuations, currency non-convertibility, interest rate fluctuations and higher rates of inflation or deflation. Unanticipated political or social developments may result in sudden and significant investment losses.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--InvestmentCompanyAndExchangetradedFundRiskMember_zsmw3OBi5bl1"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Investment Company and Exchange-Traded Fund Risk.</i> An investment company or other pooled investment vehicle, including any ETFs or money market funds, in which the Fund invests may not achieve its investment objective or execute its investment strategies effectively. Significant purchase or redemption activity by shareholders of such an investment company might negatively affect the value of its shares. The Fund must pay its pro rata portion of an investment company’s fees and expenses. In addition, by investing in the Fund, shareholders indirectly bear fees and expenses charged by the acquired investment companies or other pooled investment vehicles in addition to the Fund’s direct fees and expenses. As a result, the cost of investing in the Fund may exceed the costs of investing directly in investment companies or pooled investment vehicles.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--OperationalRiskMember_zE1nza19FkV6"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Operational Risk. </i>The Fund and its service providers may experience disruptions that arise from human error, processing and communications errors, counterparty or third-party errors, technology or systems failures, any of which may have an adverse impact on the Fund.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--CybersecurityRiskMember_zcDkm9NOsVVf"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">●</td><td style="text-align: justify"><i>Cybersecurity Risk</i>. Cybersecurity incidents may allow an unauthorized party to gain access to Fund assets or proprietary information, or cause the Fund, the Adviser, and/or other service providers (including custodians and financial intermediaries) to suffer data breaches or data corruption. Additionally, cybersecurity failures or breaches of the electronic systems of the Fund, the Adviser, or the Fund’s other service providers, market makers, Authorized Participants, the Fund’s primary listing exchange, or the issuers of securities in which the Fund invests have the ability to disrupt and negatively affect the Fund’s business operations, including the ability to purchase and sell Fund shares, potentially resulting in financial losses to the Fund and its shareholders.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> Performance Information <p id="xdx_A85_eoef--PerformanceNarrativeTextBlock_z5rjcjL2sFRd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_902_eoef--PerformanceInformationIllustratesVariabilityOfReturns_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zrAkZeq84VW7">The following performance provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time.</span> The following bar chart shows the Fund’s annual returns. The table illustrates how the Fund’s average annual returns for the 1-year and since inception periods compare with those of the S&amp;P 500^® Index, an index that reflects a broad measure of the U.S. equity market’s performance. <span id="xdx_90F_eoef--PerformancePastDoesNotIndicateFuture_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_z3LiuhHTO1G2">The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.</span> Updated performance information is available on the Fund’s website at <span id="xdx_905_eoef--PerformanceAvailabilityWebSiteAddress_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_z5ERunRE8Mka">www.eaglecap.com</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> The following performance provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. www.eaglecap.com Calendar Year Ended December 31 <div id="xdx_A8D_eoef--BarChartTableTextBlock_zNWTr7YJ6vXk"></div> <table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zxDw7n80RaXi" style="font: 10pt Times New Roman, Times, Serif; display: none; border-collapse: collapse; width: 100%; visibility: hidden" summary="xdx: Disclosure - Annual Total Returns"> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; width: 50%; visibility: hidden"> </td> <td style="display: none; width: 50%; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td style="display: none; visibility: hidden"><span id="xdx_902_eoef--AnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000244572Member_zewW4EeOHani" style="display: none; visibility: hidden">17.31%</span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><img alt="" src="eagle485bpos002.jpg" style="height: 182pt; width: 230pt"/></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> 0.1731 <p id="xdx_A88_eoef--BarChartClosingTextBlock_zo8imXrKX9il" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Fund’s calendar <span id="xdx_908_eoef--YearToDateReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zbS3qd7UXguh">year-to-date return</span> as of <span id="xdx_90D_eoef--BarChartYearToDateReturnDate_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zUeeQFomddTi">September 30, 2026 </span>was <span id="xdx_909_eoef--BarChartYearToDateReturn_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zrieY92lLWU4">4.81%</span>. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During the period of time shown in the bar chart, the Fund’s <span id="xdx_906_eoef--HighestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zC99P3JacEEl">highest quarterly return</span> was <span id="xdx_906_eoef--BarChartHighestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zLfFZVZfUHLe">7.61%</span> for the quarter ended <span id="xdx_909_eoef--BarChartHighestQuarterlyReturnDate_dd_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_z7KoaMLt7Vw5">June 30, 2025</span> and the <span id="xdx_902_eoef--LowestQuarterlyReturnLabel_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zqdfTBhXeyUk">lowest quarterly return</span> was <span id="xdx_903_eoef--BarChartLowestQuarterlyReturn_dp_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_ztss5Ct378Oi">0.74 %</span> for the quarter ended <span id="xdx_904_eoef--BarChartLowestQuarterlyReturnDate_dd_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zaanOTCyt9G9">March 31, 2025</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> year-to-date return 2026-09-30 0.0481 highest quarterly return 0.0761 2025-06-30 lowest quarterly return 0.0074 2025-03-31 Average Annual Total Returns For the Periods Ended December 31, 2025   <div id="xdx_A8B_eoef--PerformanceTableTextBlock_zvj0Oth0h3M5"></div> <table cellpadding="0" cellspacing="0" id="xdx_A53_dU_zI5mfHgHMUc5" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr> <td style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; width: 70%"> </td> <td id="xdx_49B_20250101__20251231_zTdfSfhpS6Yj" style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: bottom; width: 10%"><b>1 Year</b></td> <td id="xdx_495_20240322__20251231_zZOsZiasnwo7" style="border-top: black 1pt solid; border-bottom: black 1pt solid; vertical-align: top; width: 20%"><b>Since Inception</b><br/> <b>(<span id="xdx_901_eoef--PerfInceptionDate_dd_c20240322__20251231__oef--ClassAxis__custom--C000244572Member_zKf9H8K8txD">March 22, 2024</span>)</b></td></tr> <tr id="xdx_402_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000244572Member_zcihwLXky9o7" style="vertical-align: top"> <td>Return Before Taxes</td> <td>17.31% </td> <td>15.91%</td></tr> <tr id="xdx_40B_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000244572Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zWhl4i0qE1if" style="vertical-align: top"> <td>Return After Taxes on Distributions</td> <td>17.05% </td> <td>15.68%</td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000244572Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zDKy0OP8MZka" style="vertical-align: top"> <td>Return After Taxes on Distributions and Sale of Fund Shares</td> <td>10.25% </td> <td>12.18%</td></tr> <tr id="xdx_409_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--SAndP500IndexMember_zxoT1jIpST8l" style="vertical-align: top"> <td>S&amp;P 500^®Index <span id="xdx_902_eoef--IndexNoDeductionForFeesExpensesTaxes_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_z8fzdAcAB9B3">(reflects no deduction for fees, expenses, or taxes)</span></td> <td>17.88%</td> <td>17.69% </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> 2024-03-22 0.1731 0.1591 0.1705 0.1568 0.1025 0.1218 (reflects no deduction for fees, expenses, or taxes) 0.1788 0.1769 <p id="xdx_A8A_eoef--PerformanceTableClosingTextBlock_zkThFB6T2Ns1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_903_eoef--PerformanceTableUsesHighestFederalRate_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_z3DqwRvHd8b6">After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes.</span> Actual after-tax returns depend on an Investor’s tax situation and may differ from those shown. <span id="xdx_907_eoef--PerformanceTableNotRelevantToTaxDeferred_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_zZYAMqABshJi">After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred or other tax-advantaged arrangements such as an individual retirement account (“IRA”).</span> In certain cases, the figures representing “Return After Taxes on Distributions and Sale of Fund Shares” may be higher than the other figures for the same period. <span id="xdx_90C_eoef--PerformanceTableExplanationAfterTaxHigher_c20261028__20261028__dei--LegalEntityAxis__custom--S000081645Member_z6VQmwgtUEcj">A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> After-tax returns are calculated using the historical highest individual federal marginal income tax rates during the period covered by the table above and do not reflect the impact of state and local taxes. After-tax returns shown are not relevant to investors who hold their Shares through tax-deferred or other tax-advantaged arrangements such as an individual retirement account (“IRA”). A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.