| Investment Objective: |
TappAlpha S&P 500 Growth & Daily Income ETF (the "Fund") seeks current income while maintaining prospects for capital appreciation. The Fund's secondary investment objective is to seek exposure to the performance of the S&P 500 Index. The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objectives through the use of a call option strategy that combines a long position in one or more exchange-traded funds ("ETFs") that provide exposure to the S&P 500 Index (such as SPDR S&P 500 ETF Trust ("SPY") and/or Vanguard S&P 500 ETF ("VOO")), with short positions in certain call options. The strategy is a daily covered call option strategy that sells "out of the money" call options with zero days to expiration each day, known as a "daily call". Daily call options having zero days to expiration are also known as "0DTE" options. In general, an option is a contract that gives the purchaser of the option, in return for a premium, the right to buy from the seller (writer) of the option the security underlying the option at a specified exercise price (the "strike price") at a specified expiration date. |
