Active Dividend Stock ETF (TADS) Exchange: NYSE ARCA

In pursuing the Fund’s investment objective, the Fund seeks to employ a tactical approach to invest in income-producing U.S. equity securities and ETFs. Under normal market conditions, the Fund will invest in income producing equity securities. While the Fund expects to be invested primarily in large capitalization companies, it may invest in equity securities of any capitalization. The Fund considers large capitalization companies to be those with capitalization greater than $5 billion.   The Fund’s adviser utilizes a proprietary quantitative process to select companies for investment by the Fund, taking into consideration companies’ dividend growth, liquidity, sector diversity, and potential for capital appreciation in the near term. The Fund is actively managed and utilizes tactical models that seek to identify strong sectors to buy and weak sectors to sell, or strong sectors that appear overbought to sell and weak sectors that appear oversold to buy. Market sectors are also analyzed for divergences, which may signal major market turning points. The adviser’s intermarket divergence analysis identifies divergences between two markets that either typically move in the same or opposite directions.   The Fund may invest, a portion of the Fund’s portfolio in volatility ETFs and ETNs, leveraged ETFs, inverse ETFs, Treasury Bond ETFs, and Inverse Treasury Bond ETFs. The Fund defines volatility ETFs and ETNs as funds that provide returns that correspond to or are the inverse of the S&P 500 VIX Short-Term Futures Index. In managing the Fund’s portfolio, the adviser will actively manage the Fund, resulting in a high portfolio turnover rate.