| Investment Objective: |
The Regan Fixed Rate MBS ETF (the "Fund") seeks current income. Fund invests at least 80% of its net assets in fixed rate mortgage-backed securities ("MBS"). Regan Capital, LLC (the "Advisor"), the Fund's investment advisor, intends to invest primarily in fixed rate agency residential MBS. Agency residential MBS are securities issued, secured, or collateralized by government sponsored entities and are considered investment grade. Cash balances awaiting investment in portfolio holdings may be held in cash or other short-term investments, including short-term U.S. government securities and government agency securities; investment grade money market instruments; repurchase agreements; commercial paper and cash equivalents; and money market funds. The Fund may invest, without limitation, in securities of any maturity and duration. Maturity refers to the length of time until a debt security's principal is repaid with interest. The Fund is an actively managed ETF. |
