Strategy. The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its objective through a combination of equity securities and total return swaps. The Fund invests primarily in a portfolio of other ETFs that invest in equity securities of non-U.S. (international) companies in developed and emerging markets throughout the world (the Equity Strategy) and invests the remainder of its assets in total return swaps (the Total Return Swaps Strategy). The Adviser may actively and frequently purchase and sell investments for the Fund. Equity Strategy Through its Equity Strategy, under normal circumstances, the Fund invests at least 80% of its assets in other ETFs that invest in the equity securities of non-U.S. companies. The Fund may also invest in … Show more… The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its objective through a combination of equity securities and total return swaps. The Fund invests primarily in a portfolio of other ETFs that invest in equity securities of non-U.S. (international) companies in developed and emerging markets throughout the world (the Equity Strategy) and invests the remainder of its assets in total return swaps (the Total Return Swaps Strategy). The Adviser may actively and frequently purchase and sell investments for the Fund. Equity Strategy Through its Equity Strategy, under normal circumstances, the Fund invests at least 80% of its assets in other ETFs that invest in the equity securities of non-U.S. companies. The Fund may also invest in common stocks and depositary receipts as part of its Equity Strategy, although such depositary receipts will generally comprise less than 20% of the Funds net assets. Aptus Capital Advisors, LLC, the Funds investment adviser (Aptus or the Adviser), generally expects to expose the Fund to a mix of developed and emerging markets. The Funds Equity Strategy seeks exposure to mid- and large-capitalization stocks. Aptus selects the ETFs in which the Fund invests based on a variety of characteristics, including the particular geographic exposure provided by the portfolio of securities held by the ETF, the cost to invest in and trade the ETFs shares, and the size of the ETF, among others. Aptus selects the individual common stocks and depositary receipts in which the Fund invests based on a companys fundamental and momentum characteristics to try to identify attractive opportunities for growth. Total Return Swaps Strategy The Fund invests in total return swaps that implement a systematic trading strategy (STS), with the primary goal of increasing the Funds total return. A total return swap is an agreement whereby one party contracts to make periodic payments to another party based on the change in market value of certain underlying assets (or trading strategy) in exchange for receiving periodic payments from the other party based on a fixed or variable interest rate or the total return of other underlying assets. An STS implemented by a total return swap is a rules-based investment approach to making trade decisions based on pre-established parameters. The Fund may invest in total return swaps that employ STSs using a combination of options and/or futures contracts on equity indexes, fixed income indexes, and/or volatility indexes ( e.g ., the CBOE Volatility Index, also known as VIX). Trading in these instruments may include selling (writing) and/or purchasing put or call options and/or entering into long or short futures contracts to implement the desired exposures in-line with the STS parameters. The Fund may hold Treasury Bills to provide a return on cash used as collateral for the total return swaps. The Fund seeks to maintain relatively stable quarterly distributions at a rate that is approximately double the distribution rate of its broad-based securities market benchmark, the MSCI AC World Index ex USA (Net). Although the Adviser will target this distribution rate, the Funds actual distribution rate will be based on a combination of dividends generated by the Funds underlying equity portfolio, the appreciation of the Funds equity holdings, and income from U.S. Government securities. As a result, the amount of income earned by the Fund will vary from quarter-to-quarter, and the Fund may pay out a return of capital to meet those targets if quarterly distributions exceed the current income generated by the Fund. In addition, the Fund does not guarantee and there can be no assurance that distributions will always be paid or will be paid at a relatively stable level in line with the Advisers internal targets. Show less