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TEST ETF

FundsWes Gray2022-04-20T04:20:46-04:00

Important Disclosures

The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. This and other important information is contained in the prospectus, which may be obtained by following the links Prospectus and SAI or by calling +1.215.882.9983. Please read the prospectus carefully before investing.

Investments involve risk. Principal loss is possible.

The Fund is actively-managed is subject to the risk that the strategy may not produce the intended results. The Fund is new and has a limited operating history to evaluate.

The Fund relies heavily on a proprietary statistical selection model as well as data and information supplied by third parties that are utilized by such model. If the model does not perform as intended, the Fund’s strategy may not be successfully implemented and the Fund may lose value. If the model or data are incorrect or incomplete similarly unavailable, any decisions made in reliance thereon may lead to the inclusion or exclusion of securities that would have been excluded or included had the model or data been correct and complete. Applying character scores to the investment process may exclude securities of certain issuers for non-investment reasons and therefore the Fund may forgo some market opportunities available to funds that do not use these criteria. As a result, at times, the Fund may underperform funds that are not subject to similar investment considerations.

The Fund will invest primarily in companies in certain sectors. The value of a security may decline due to factors that affect a particular industry or group of industries. Investing in securities of medium-capitalization companies may involve greater risk than larger, more established companies. Medium-Capitalization companies may be more sensitive to changing market conditions because they tend to be smaller or newer and may be more volatile and less liquid.

ETFs may trade at a premium or discount to their net asset value. ETF shares may only be redeemed at NAV by authorized participants in large creation units. There can be no guarantee that an active trading market for shares will exist. The trading of shares may incur brokerage.

This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. We make no representation or warranty as to the accuracy or completeness of the information contained herein including third-party data sources. The views expressed are as of the publication date and subject to change at any time. No part of this material may be reproduced in any form, or referred to in any other publication without express written permission. References to other funds should not to be interpreted as an offer or recommendation of these securities.

The Fund is distributed by Quasar Distributors, LLC. The fund’s investment advisor is Empowered Funds, LLC, which is doing business as EA Advisers.

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