North Shore Dual Share Class ETF (DUAL) Exchange: NYSE ARCA

The Fund normally invests at least 80% of its total assets in securities of the Index. The Index is designed to track the performance of "dual class stock" companies – companies that issue at least two share classes of common stock, generally one to the investing public, and the other to the company's founders and executives ("Dual Share Class Companies"). A share class or share classes that are offered to the general public typically have limited or no voting rights, generally giving the company's founders and executives more voting power and, therefore, more control over a company, which is viewed by advocates for Dual Share Class Companies as advantageous to growth, development and long-term success of a company. The Index includes the common stock offered to the general public by Dual Share Class Companies.   Eligible constituents for the Index are Dual Share Class Companies selected from the top 3,000 largest companies by total market capitalization that are primarily listed on a U.S. stock exchange (currently, New York Stock Exchange, The Nasdaq Stock Market LLC, or American Stock Exchange), with a minimum market capitalization of at least $100 million (the "Index Universe"). The Index Universe is then filtered by a company's age, relative to the date of its initial public offering ("IPO"). Companies with IPO offerings six (6) months to 20 years old are selected for the Index. Index constituents are then screened for whether they offer more than one share class of common stock to the public. In this circumstance, the Index methodology calls for either (i) the retention of the existing share class of stock held in the Index if it continues to satisfy all other eligibility criteria or (ii) investment in the share class with the highest trading volume over a 30 day calendar day period. The Index primarily consists of securities of companies incorporated in the United States. The Index is weighted according to a modified market capitalization weighting methodology. As of April 30, 2020, the Index was comprised of 177 component securities.   The Index is rebalanced and reconstituted on an annual basis at the close of the last trading day in June (the "Rebalance Date"). Security selection for the Rebalance Date begins on the close of the trading day on the nearest Friday falling at least one month before the Rebalance Date. Deletions from the Index may be made at any time due to changes in business, mergers, acquisitions, bankruptcies, suspensions, de-listings and spin-offs. The Index is unmanaged and cannot be invested in directly.   The Fund employs a "passive management" investment strategy designed to track the performance of the Index. Exchange Traded Concepts, LLC (the "Adviser") generally will use a replication methodology, meaning it will invest in all of the securities comprising the Index in proportion to the weightings in the Index. However, the Adviser may utilize a sampling methodology under various circumstances, including when it may not be possible or practicable to purchase all of the securities in the Index. The Adviser expects that over time, if the Fund has sufficient assets, the correlation between the Fund's performance, before fees and expenses, and that of the Index will be 95% or better. A figure of 100% would indicate perfect correlation.   The Fund will concentrate its investments (i.e., invest more than 25% of its total assets) in a particular industry or group of industries to approximately the same extent that the Index concentrates in an industry or group of industries. As of April 30, 2020, the Index was not concentrated in any industry. In addition, in replicating the Index, the Fund may from time to time invest a significant portion of its assets in the securities of companies in one or more sectors. As of April 30, 2020, a significant portion of the Index consisted of companies in the communication services and information technology sectors.   The index provider is North Shore Indices, Inc. (the "Index Provider"), which is not affiliated with the Fund or the Adviser. The Index Provider developed the methodology for determining the securities to be included in the Index and is responsible for the ongoing maintenance of the Index. The Index is calculated by Indxx, LLC, which is not affiliated with the Fund or the Adviser.