CWA INCOME ETF (CWAI) Exchange: BATS

DELISTED - Under normal circumstances, the Fund seeks to achieve its investment objective by investing its assets in a diversified portfolio of corporate bonds with varying maturities and equity securities. The Fund normally invests in investment grade corporate bonds of large cap domestic issuers, without a preference for particular market sectors, but the Fund may also invest in securities of small and mid-cap issuers, both foreign, including emerging markets, and domestic, in any market sector, regardless of credit quality.   The Fund may also invest in equity securities without restriction by market capitalization that are characterized by high dividend yield, including common stocks, preferred stocks, warrants, convertible securities, and pooled investment vehicles such as exchange-traded funds ("ETFs") or other investment companies. Under normal circumstances, the Fund will not invest more than 20% of its total assets in equity securities.   CWA Asset Management Group, LLC (the "Sub-Adviser"), the Fund's sub-adviser, selects the Fund's investments using a value strategy focused on the current and potential future valuation of a security, the credit quality of the issuer, and the stability of the issuer's balance sheets and competitive advantages. Lower rated, higher-yielding, higher-risk corporate bonds are commonly known as "high yield" or "junk" bonds. High yield bonds are generally rated lower than Baa3 by Moody's Investors Service ("Moody's") or lower than BBB- by Standard and Poor's Rating Group ("S&P"). High yield bonds have a higher expected rate of default than investment grade bonds.   The average portfolio duration of the Fund can vary significantly. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates.   The Fund may invest without limit in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.   The Fund's Board of Trustees may change the Fund's investment objective without shareholder approval upon 60 days' prior written notice to shareholders.