Strategy. The Fund is an actively managed exchange-traded fund (ETF) that, under normal market conditions, invests in a diversified portfolio of equity securities, primarily the common stocks of dividend paying large capitalization U.S. companies that provide exposure across most sectors of the U.S. equity market. As of the date of this Prospectus, these twelve (12) sectors / sub-sectors in which the Fund will invest are: communication services; consumer food; consumer discretionary; consumer staples; energy; financials; healthcare; industrials; information technology; real estate; retail; and utilities. The Fund currently defines a large capitalization (large cap) company as one whose market capitalization is at least $5 billion and, at the time of purchase, is within the range of the market capitalizations of companies in … Show more… The Fund is an actively managed exchange-traded fund (ETF) that, under normal market conditions, invests in a diversified portfolio of equity securities, primarily the common stocks of dividend paying large capitalization U.S. companies that provide exposure across most sectors of the U.S. equity market. As of the date of this Prospectus, these twelve (12) sectors / sub-sectors in which the Fund will invest are: communication services; consumer food; consumer discretionary; consumer staples; energy; financials; healthcare; industrials; information technology; real estate; retail; and utilities. The Fund currently defines a large capitalization (large cap) company as one whose market capitalization is at least $5 billion and, at the time of purchase, is within the range of the market capitalizations of companies in the Russell 1000 Index (the Russell 1000). The Russell 1000 is an unmanaged index that tracks the highest ranking 1,000 stocks of the Russell 3000 Index (the Russell 3000). The Russell 1000 represents roughly 93% of the total market capitalization of the Russell 3000. The market capitalizations within the Russell 1000 will vary, but as of June 25, 2025, they ranged from approximately $1.5 billion to $3.8 trillion. The Fund will invest across the broad spectrum of the U.S. equity market and will generally be invested in most sectors of the U.S. equity market. The Fund will consist of equally weighted investments designed to provide current income and capital appreciation potential with a focus on dividend-paying blue chip companies (companies that, in the Advisers view, are high quality companies with a long track record of dividend increases, strong growth potential characteristics, and potentially reduced volatility compared to the broad market). The Funds holdings will generally be equal-weighted by position and equal-weighted by sector. However, under certain circumstances, the Fund may be over-weighted in one or more positions or sectors because of market appreciation or if the Adviser believes that different weightings are appropriate. The Funds equity investments may not be equally weighted from time to time as the Fund navigates various market conditions and the Adviser manages various risks. Although investing in companies that provide dividend income is a fundamental component of the Funds principal investment strategy, the Fund may invest in securities that do not pay a dividend to shareholders. The Fund will be invested primarily in the equity securities of large-capitalization companies that have a strong track record of paying a rising dividend to shareholders and that the Adviser considers to be established and mature, market leaders, with a strong, stable financial foundation and that have the potential for reduced volatility and high liquidity. As a result of the Funds focus on divided paying securities, a significant portion of the Funds holdings could be considered to be large cap value securities. The Adviser generally expects to keep the Funds portfolios fully invested in the market regardless of current market conditions. The Adviser generally uses both a top-down and bottom up approach during portfolio construction. The Adviser will evaluate which industries, sectors and companies within the sectors the Fund will invest in based on the Advisers assessment of which companies exhibit favorable characteristics in the current and forecasted economic environments. The Funds portfolio components will be reviewed by the Adviser on a case-by-case basis to determine any changes to individual portfolio components and/or weights with the aim of enhancing the value of the Funds risk adjusted returns. The Advisers focus on investing in companies with strong, stable, dividend growing securities that exhibit a strong track record of earnings growth alongside strong balance sheets generally allows the Fund to have relatively low portfolio turnover. The Funds sub-adviser, Vident Asset Management (the Sub-Adviser) will purchase or sell securities to implement the Advisers investment selections at a time determined appropriate by the Sub-Adviser and in accordance with, but not necessarily in the identical amounts as provided with the Advisers investment selections. Show less