| Investment Objective: |
The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing in both long and short positions in equity securities or ETFs that Militia Investments, LLC, the sub-adviser believes offer the potential for capital appreciation. Under normal circumstances, the Fund invests at least 80% of its net assets (including borrowings for investment purposes) in equity securities or ETFs that provide exposure to equity securities. The equity securities in which the Fund invests may be common stocks of small-, mid-, or large-capitalization companies and depositary receipts. The Fund's long portfolio will consist of foreign (typically in developed markets) or domestic companies the Sub-Adviser believes present an opportunity for price appreciation. The Fund may, but is not required to, have long exposure greater than 100% of the Fund's net assets, and the Fund will cap its long exposure to typically less than 150% of its net assets, but may exceed this threshold from time to time. For the Fund's short portfolio, the Sub-Adviser seeks U.S.-listed companies for which the net present value of their anticipated future cash flows is expected to decline or be negative and consequently, their stock price is expected to decline. |
