Using advanced signal processing and artificial intelligence (AI) the Index seeks to outperform by selecting momentum leaders during bull markets and automatically switching to a defensive strategy when bear conditions are detected. Rather than try to dilute risk the aim is to avoid the risk.

When bull markets are indicated, the Index evaluates over 100 ETFs and aims to hold 6 momentum leading ETFs, four in the Economic Sectors category and two in the Geopolitical Sectors category. Due to permitted duplicate selection, the Index may at times hold as few as 4 unique ETFs.

Economic Sector ETFs include ETFs that invest primarily in one of several economic sector categories, such as healthcare, energy, technology, and finance.

Geopolitical Sector ETFs include ETFs that invest primarily in a particular world region, such as Europe, Latin America, and the Asia Pacific, or any of the many individual countries of the world.

The Index employs multiple AI and signal processing tools that seek to identify momentum leaders and genetically evolve its underlying strategies as it attempts to learn market behavior.

Momentum leaders are evaluated and selected on a monthly basis when bull markets are indicated.

Fee Disclosures

• Other Expenses are estimated for the current fiscal year.
• Acquired Fund Fees and Expenses are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, and are estimated for the current fiscal year.
• The Fund’s investment adviser has contractually agreed to waive 40 basis points (0.40%) of its management fee. The waiver will remain in effect until at least January 30, 2024. This waiver agreement may be terminated early only by, or with the consent of, the Fund’s Board of Trustees.

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

Performance will be shown starting on March 31, 2021.

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance quoted. Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times.

Short term performance, in particular, is not a good indication of the ETF’s future performance and an investment should not be made based solely on returns.

Performance will be shown starting on March 31, 2021.

Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.