AGFIQ DYNAMIC HEDGED U.S. EQUITY ETF (USHG) Exchange: NYSE ARCA

The Fund, under normal circumstances, invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities of issuers economically tied to the United States. The Fund will operate as a “fund-of-funds” by investing primarily in sector-based exchange-traded funds (“ETFs”) and other ETFs. The Fund is an actively managed ETF that seeks to achieve its investment objective by using proprietary, multi-factor quantitative models that use fundamental factors and market risk measurement factors to help establish allocation to primary sectors of the S&P 500® Index, as well as cash and cash equivalents. The primary sectors of the S&P 500® Index include: consumer discretionary, consumer staples, communications services, energy, financials, healthcare, industrials, materials, real estate, technology, and utilities. The sector allocation model is driven by factors related to size, valuation, momentum and quality. This sector model runs on a daily basis, ranking each sector based on relative attractiveness and expected returns to help the Fund’s portfolio managers determine whether to take an overweight, underweight or neutral position to a particular sector relative to that sectors’ benchmark weight. The sector model uses a multi-factor approach and considers all S&P 500® sectors but is not expected to generally emphasize any particular factor, valuation method or sector. The market risk model also runs on a daily basis and analyzes market and macro-economic data to help the portfolio managers identify the equity risk level. The portfolio managers use the output of both the sector model and market risk model to help determine final allocations for the strategy. The Fund seeks to provide risk controls in down markets, through embedded downside risk management, in order to attempt to protect capital in periods of falling equity markets, while providing potential for outperformance in up markets. To seek to provide risk controls in down markets, the Fund intends to invest in the AGFiQ U.S. Market Neutral Anti-Beta Fund, an ETF that is also managed by the Adviser and may also invest in similar lower beta ETFs available in the marketplace, including ETFs managed by the Adviser, as well as cash, money market ETFs, money market securities and Treasury Bills. For this purpose, “low beta” or “lower beta” refers to ETFs or other securities that are less sensitive to the movement of the overall equity market, as represented by the S&P 500®. A lower beta security is generally expected to be less volatile than the overall equity market and inclusion of low beta securities in a portfolio may help lower that portfolio’s overall volatility. The Fund does not anticipate using traditional hedging techniques such as derivatives or short sales. Instead, the portfolio managers intend to increase allocations to lower beta ETFs within the portfolio at times when they believe equity market risk to be high or rising and to decrease such allocations when equity market risk levels are estimated to be low or falling. The Fund’s allocations to lower beta ETFs is anticipated to fluctuate but typically range from 0% to 50% of net assets.