HCM Defender 100 Index ETF (QQH) Exchange: NYSE ARCA

The Fund seeks to achieve its investment objective by investing at least 80% of its net assets, including borrowings for investment purposes but exclusive of collateral held from securities lending, in securities included in the HCM 100 Index. The HCM 100 Index seeks to outperform the Nasdaq 100® Index using a proprietary methodology. The Nasdaq 100® Index is comprised of the largest domestic and international non-financial securities listed on the Nasdaq. The HCM 100 Index alternates exposure between a full equity position of securities issued by 100 of the largest non-financial companies listed on the Nasdaq, a 50/50 equity/3-month Treasury instruments (including ETFs, mutual funds or derivatives) or a full 3-month Treasury instruments position. The Fund may gain exposure to securities included in the HCM 100 Index indirectly through investments in derivatives and other investment companies. The HCM 100 Index is an index sponsored, created, compiled, and maintained by the adviser and uses a representative sampling strategy.   The HCM 100 Index uses the HCM BuyLine® (“BuyLine”), a proprietary quantitative investment model, to determine when the HCM 100 Index should be in or out of the market. The BuyLine uses trend analysis to help identify the broad trend in the equity market. When the trend is down, the HCM 100 Index reduces exposure to equities, and when the trend is up, the HCM 100 Index increases exposure to equities. When the S&P 500® Index’s closing price drops to 3.5% below the BuyLine, the HCM 100 Index will assume a 50/50 position in equities and 3-month Treasury bills. If the S&P 500® Index drops to 6.5% below the BuyLine, the HCM 100 Index will be 100% in 3-month Treasury bills. Once the S&P 500® Index closes above the BuyLine for five consecutive trading days, the HCM 100 Index will be reinvested in equities. If the S&P 500® Index closes above the BuyLine without having previously closed below the 3.5% or 6.5% levels for at least five consecutive trading days, the HCM 100 Index will add or maintain exposure equal to approximately 120% of the Nasdaq 100® Index. The Fund may invest in derivatives or leveraged exchange-traded funds (“ETFs”), sometimes referred to in this Prospectus as “Underlying Funds,” in seeking to track the HCM 100 Index’s greater than 100% exposure to the securities in the Nasdaq 100® Index.   The Fund may also invest up to 20% of its net assets (including borrowings for investment purposes but exclusive of collateral held from securities lending) in index futures, options, options on index futures, swap contracts or other derivatives, cash equivalents, other investment companies, as well as in securities and other instruments not included in the HCM 100 Index but which the Adviser believes will help the Fund track the HCM 100 Index.