Strategy. The Fund is an actively managed fund-of ETFs. Family Dynasty Advisors LLC, the Funds sub-adviser (the Sub-Adviser), invests the Funds assets in ETFs that are listed on U.S. stock exchanges (the Underlying ETFs). The Fund will invest in Underlying ETFs that primarily invest in U.S. equity securities or high-yield bonds. Additionally, the Fund will hold cash and cash equivalents. When the Sub-Advisers proprietary analysis (described below) forecasts a market uptrend (i.e., a rising equity market), the Fund will increase its holdings in Underlying ETFs and reduce its cash position. In contrast, the Sub-Adviser will reduce its holdings in Underlying ETFs and increase the Funds allocation to cash when the Sub-Advisers proprietary trading strategy perceives a market downtrend (i.e., a flat … Show more… The Fund is an actively managed fund-of ETFs. Family Dynasty Advisors LLC, the Funds sub-adviser (the Sub-Adviser), invests the Funds assets in ETFs that are listed on U.S. stock exchanges (the Underlying ETFs). The Fund will invest in Underlying ETFs that primarily invest in U.S. equity securities or high-yield bonds. Additionally, the Fund will hold cash and cash equivalents. When the Sub-Advisers proprietary analysis (described below) forecasts a market uptrend (i.e., a rising equity market), the Fund will increase its holdings in Underlying ETFs and reduce its cash position. In contrast, the Sub-Adviser will reduce its holdings in Underlying ETFs and increase the Funds allocation to cash when the Sub-Advisers proprietary trading strategy perceives a market downtrend (i.e., a flat or falling market). Allocation changes may apply to the Funds overall portfolio if, for example, equity markets as a whole are forecast to change, or may apply to a subset of the Funds portfolio if particular sub-markets (e.g., small-cap stocks) are forecast to change. The Sub-Adviser manages the Funds portfolio using its proprietary strategy, which analyzes both technical and macro-economic indicators. The Sub-Advisers strategy focuses on evaluating both Underlying ETF-specific and broad economic data to seek to forecast market trends to select the Underlying ETFs in which the Fund will invest. By adjusting the Funds cash position in times of forecasted flat or negative market conditions, the Fund expects to reduce to some extent the extent of loss which may be experienced in the broader equity market. The Funds ability to actively manage its cash position is intended to result in a lower volatility of its returns than an investment in the broader equity markets (because cash is a neutral investment that naturally dampens the volatility of an overall portfolio that is otherwise comprised of equity and fixed-income securities). Technical Indicators : The Sub-Adviser analyzes various technical indicators of potential Underlying ETFs, including, among others, indicators such as trading volume (how many shares are trading over various periods) and moving averages (e.g., prices over periods such as 20 days or 50 days). The Sub-Adviser also considers more complex indicators, including, among others, the stochastic oscillator and the moving average convergence divergence (MACD) described below. ? The stochastic oscillator is a momentum indicator that shows the location of the Underlying ETFs closing price relative to its high-low range over a set number of periods. The Sub-Adviser uses this indicator to determine whether the Underlying ETFs holdings are generally oversold (i.e., the Underlying ETFs holdings are potentially undervalued) or overbought (i.e., the Underlying ETFs holdings are potentially overvalued). ? The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of an Underlying ETFs price. The MACD can assist the Sub-Advisers assessment of whether a security (Underlying ETF) is oversold, overbought, or may be subject to a price reversal. The Sub-Adviser uses the technical indicators to identify when an Underlying ETF has bullish or bearish momentum, and to identify entry and exit points for trades. Generally speaking, technical indicators for different types of Underlying ETFs (e.g., small cap stocks vs. gold) move somewhat independently of one another. As a result, the trends for each of the Funds holdings will differ. Macro-Economic Indicators : The Sub-Adviser analyzes a broad range of macro-economic data, including actions taken by the Federal Reserve, gross domestic product figures, consumer spending reports, and housing reports. The Sub-Adviser uses its macro-economic analysis to identify broad market trends (e.g., do the stock markets appear likely to increase, stay steady, or decrease?). The Sub-Adviser uses its macro-economic data as an overlay to its technical analysis and incorporates this additional data when determining when to buy, hold, or sell Underlying ETFs. Fund Allocations : The Sub-Adviser seeks to position the Fund to seek to benefit from market uptrends by allocating all or substantially all of the Funds assets to equity ETFs and high-yield bond ETFs, while seeking to minimize the impact of investment price declines by reducing the Funds equity and high-yield bond exposure and increasing its allocation to cash equivalent holdings. The Sub-Adviser favors Underlying ETFs that are highly liquid and lower cost. The Funds Underlying ETFs will primarily invest in: ? one or more economic sectors (e.g., health care, technology, energy); ? one or more equity market segments (e.g., small- or mid-capitalization stocks); or ? high-yield bond market segments. Portfolio Construction : When the Sub-Advisers analysis anticipates market uptrends, the Funds portfolio will generally consist of between 10 and 15 Underlying ETFs. When the analysis reflects flat or negative market pricing trends, the Fund will hold fewer Underlying ETFs and allocate more of the Funds portfolio to cash or cash equivalent holdings. Generally, the Fund will be between 90% - 100% invested in Underlying ETFs because, in the Sub-Advisers view, most market growth happens more slowly over long time periods. In contrast, market declines, and subsequent recovery periods, usually occur more quickly. As a result, the Fund will substantially increase its cash position infrequently and for relatively short periods. The allocation of cash will depend on the severity of the Sub-Advisers assessment of the size and severity of an anticipated market decline. The Sub-Adviser anticipates that the Fund will briefly allocate a significant portion of its portfolio to cash (up to 75%) on a fairly regular basis (e.g., 2-3 times a year). Show less