Strategy. The Fund is an actively managed exchange-traded Fund (ETF) that invests primarily in equity securities of large-capitalization companies, with a focus on growth potential. A growth stock is the stock of a company that generates substantial and sustainable positive cash flow and whose revenues and earnings are expected to increase at a faster rate than the average company within the same industry. Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in common stock of large-capitalization companies. These companies have market capitalizations in the range of companies included in the Russell 1000 Growth Index (the Index) at the time of purchase. As of December 31, 2022, the average market capitalization of … Show more… The Fund is an actively managed exchange-traded Fund (ETF) that invests primarily in equity securities of large-capitalization companies, with a focus on growth potential. A growth stock is the stock of a company that generates substantial and sustainable positive cash flow and whose revenues and earnings are expected to increase at a faster rate than the average company within the same industry. Under normal circumstances, the Fund invests at least 80% of its net assets, plus borrowings for investment purposes, in common stock of large-capitalization companies. These companies have market capitalizations in the range of companies included in the Russell 1000 Growth Index (the Index) at the time of purchase. As of December 31, 2022, the average market capitalization of companies in the Index was $627.57 billion and the median market capitalization of companies in the Index was $14.02 billion. In seeking to achieve the Funds investment objective, Princeton Fund Advisers, LLC (the Adviser), the Funds investment adviser, implements its alpha strategy to seek to identify investment opportunities in which the performance of a companys stock will exceed that of the market over time. In selecting stocks for the Fund, the Adviser combines its investment expertise with big data analytics and powerful machine learning to seek to identify, evaluate, and create a portfolio consisting of a consensus of high conviction positions held by what the Adviser believes are top-performing, active, large-cap growth fund managers and certain funds managed by those managers. These funds are screened by various objective risk and return metrics, including historical monthly and annual performance, Sharpe ratios (a measure of risk adjusted return), upside and downside capture ratios (a measure of performance against the market when it is up and down, respectively), and performance drawdown (a measure of downside volatility). Big data analytics is the use of advanced analytic techniques to analyze and extract information from large and complex data sets. High conviction positions are those positions in which the identified managers are overweight in relation to their benchmarks. The Adviser utilizes big data analytics to replicate those funds holdings and identify high conviction positions. From this universe, the Adviser identifies consensus agreement on high conviction stocks across the mutual funds, using analytics to evaluate frequency of appearance and magnitude of conviction. From this, the Adviser then selects stocks for the Fund, creating a portfolio consisting of those high conviction positions. The Adviser may sell a security from the Funds portfolio if the securitys risk parameters outweigh its return opportunities, more attractive alternatives are identified, or specific events alter the securitys prospects. Under normal circumstances, the Funds portfolio will consist of approximately 50 issuers, but it may at times consist of more or less than 50 issuers, depending on the Advisers assessment of appropriate and attractive investment opportunities. The Fund may engage in active and frequent trading of portfolio securities in implementing its principal investment strategies. The Fund is classified as a non-diversified investment company under the Investment Company Act of 1940, as amended (the 1940 Act). Show less