The following performance information provides some indication of the risks of investing in the Fund by showing changes in the Fund’s performance over time. 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&P 500 Total Return Index, an index that reflects a broad measure of the U.S. equity market’s performance. In addition, performance is shown for the Bloomberg U.S. Treasury 7-10 Year Total Return Index, another securities market index the Adviser believes provides a more applicable comparison to the Fund’s investments. The Fund’s past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.actfund.io.
The Fund’s year-to-date return as of September 30, 2026, was 1.25%.
During the period of time shown in the bar chart, the highest return for a calendar quarter was 3.36% (quarter ended September 30, 2025) and the lowest return for a calendar quarter was 0.58% (quarter ended December 31, 2025).
| 1 Year | Since Inception (November 19, 2024) | |
| Return Before Taxes | 8.99% | 8.57% |
| Return After Taxes on Distributions | 7.91% | 7.60% |
| Return After Taxes on Distributions and Sale of Fund Shares | 5.32% | 6.13% |
| S&P 500 Total Return Index (reflects no deduction for fees, expenses or taxes) | 17.88% | 15.44% |
| Bloomberg U.S. Treasury 7-10 Year Total Return Index (reflects no deduction for fees, expenses or taxes) | 8.40% | 6.79% |
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. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. 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”). 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. A higher after-tax return results when a capital loss occurs upon redemption and provides an assumed tax deduction that benefits the investor.