Militia ETF

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Methodology

The Militia Long/Short Equity ETF pursues a higher turnover, fundamental long-short global stock selection strategy.

Fund Objective

The Militia Long/Short Equity ETF seeks capital appreciation.

Portfolio Manager

David Orr is the founder and CIO of Militia Investments, LLC and Militia Capital Management, LLC. In his role at Militia Capital, David manages a long-short global hedge fund.

Fund Documents

Summary Prospectus
Statutory Prospectus
SAI
Factsheet
Part F Q1
Part F Q3
Annual Financials
Annual Schedule of Investments
Annual Tailored Shareholder Report
Semi-Annual Schedule of Investments
Semi-Annual Financials
Semi-Annual Tailored Shareholder Report

Fees

Management Fee 1.30%
Distribution and/or Service (12b-1) Fees  0%
Other Expenses
Dividend Expense, Borrowing Costs and Brokerage Expenses on Short Sales * 9.61%
All Other Expenses 0%
Expense Ratio 10.91%

*When a cash dividend is declared on a stock the Fund has sold short, the Fund is required to pay an amount equal to the dividend to the party from which the Fund has borrowed the stock, and to record the payment as an expense. Interest expenses result from the Fund’s short sales. Any interest expense amount or dividends paid on securities sold short will vary based on the extent to which the Fund sells securities short.

Fund Details

NAV and Market Price

NAV is the sum of all assets less any liabilities, divided by the number of shares outstanding.

Month-End Performance

Quarter-End Performance

Performance quoted represents past performance and does not guarantee future results. Investment return and principal value will fluctuate so shares may be worth more or less when redeemed or sold. Current performance may be lower or higher than that quoted.

Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. YTD is year-to-date and ITD is inception-to-date.

Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV) and may trade at a discount or premium to NAV. Shares are not individually redeemable from the Fund and may only be acquired or redeemed from the fund in creation units.

Historical Premium / Discount

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Completed Calendar Quarters of Current Year

The fund is traded at a premium if the price of the fund is trading above its NAV. Conversely, the fund is traded at a discount if the price of the fund is trading below its NAV.

Most Recent Completed Calendar Year

Fund Distributions

Fund Holdings

Fund holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.