REALITY SHARES FUNDSTRAT DQM LONG ETF (DQML) Exchange: NYSE ARCA

DELISTED - The Fund seeks to provide long-term growth by tracking the investment returns, before fees and expenses, of the Index. The Index, which was developed by Fundstrat Global Advisors (“Fundstrat” or the “Index Provider”) and its Head of Data Science Research, Mr. Sam Doctor. It is constructed using a proprietary quantitative model-generated multi-factor stock selection process that seeks to identify investment opportunities among U.S. large-cap stocks. The stock selection process begins with a universe consisting of the largest 500 U.S. large-cap stocks listed and traded on a U.S. exchange as measured by free float market capitalization. It then evaluates each stock in the universe using eight factor groups representing more than 40 individual fundamental and valuation factors. The eight factor groups are: cash flow, credit metrics, balance sheet, income statement, valuation, sentiment, momentum, and laggards (i.e., lagging indicators, such as stock's trading range over multiple years). Each stock is assigned a normalized group factor score determined by measuring the relationship between an individual stock and its peers. A weight is also assigned to each factor for each GICS sector and adjusted modestly to reflect the performance learning generated by the Index Provider's proprietary learning algorithm. Each stock is then assigned an aggregate score that represents the weighted sum of the group factor scores. The Index is composed of the highest-scoring 100 large-cap stocks. The Index is equally weighted and rebalanced and reconstituted on a quarterly basis. The stock selection process is entirely model-driven; however, the Index Provider may exercise reasonable discretion in determining whether one or more factors should be added to or removed from the model to ensure Index integrity. As of December 31, 2018, the Index included companies with a capitalization range of $9.5 billion to $785.0 billion.   The Fund will invest at least 80% of its assets, other than collateral held from securities lending, if any, in component securities of the Index. The Fund may also invest up to 20% of its assets in swaps, futures, forwards, options, exchange traded funds (“ETFs”), and other securities that are not components of the Index, but which the Adviser believes will help the Fund seek to track the Index. The Fund generally uses a “replication” strategy to achieve its investment objective, meaning that it will invest in all of the securities included in the Index in approximately the same proportions as the Index. The Fund may, however, use a representative sampling strategy to achieve its investment objective when the Adviser believes it is in the best interest of the Fund. When using a representative sampling strategy, the Fund may invest in a subset or “sample” of the securities included in the Index whose collective risk, return and performance characteristics generally match the risk, return and performance characteristics of the Index as a whole. The Adviser expects that, over time, the correlation between the Fund's performance and that of the Index, before fees and expenses, will exceed 95%. A correlation percentage of 100% would indicate perfect correlation. If the Fund uses a replication strategy, it can be expected to have greater correlation to the Index than if it uses a representative sampling strategy.   The Fund seeks to remain fully invested at all times in securities or other instruments that provide exposure to the Index without regard to market conditions, trends or direction. The Fund is considered to be “non-diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”), and may invest in the securities of fewer issuers than a diversified fund.   To the extent the Index has significant exposure to a particular sector or is concentrated in a particular industry, the Fund will necessarily have significant exposure to that sector or be concentrated in that industry. As of the date of this Prospectus, the Fund has significant exposure to the Consumer Discretionary Sector, Financials Sector, Industrials Sector and Information Technology Sectors, as each sector is defined by the Global Industry Classification Standard, a widely recognized industry classification methodology developed by MSCI, Inc. and Standard & Poor's Financial Services LLC.