Anydrus Advantage ETF

¹ The philosophy is a stylized blend of the “endowment model” that Universities, Pension Funds, and Sovereign Wealth Funds employ and the risk-parity approach to investing that was pioneered at Bridgewater Capital (among others). These approaches have both theoretical and empirical support, we include some references: Understanding Risk Parity, 2013 ; The Endowment Model and Modern Portfolio Theory, 2019; Investing Like the Harvard and Yale Endowment Funds, 2017 ; University Endowments: A Primer, 2018; Risk Parity for the Long Run 2013; Diversification Benefits for Risk Parity 2023 and Sovereign Wealth Funds: Stylized Facts About Their Determinants and Governance 2022.

² As part of the philosophy we will always have exposure to different asset classes including: domestic fixed income and equity, international fixed income and equity, commodities, and liquid alternatives. The relative sizing of these positions are adjusted depending upon the macro economic environment as well as the perceived expected return of those assets relative to their expected future risk.

³ “Small Cap” (small public companies) through “Mega Cap” (the largest public companies) and across the “value spectrum” (e.g. value and growth).

⁴ A portfolio consisting of investment to 60% domestic equity and 40% domestic fixed-income.

⁵ A theoretical value measuring the risk of an asset or portfolio to the risk of the market portfolio. This is typically estimated using historical data and statistical analysis.

⁶ The cumulative price movement of an asset. Research suggests that typically assets that are increasing in price tend to continue as well as assets that are declining in price. Can be measured over different time horizons.

⁷ Considered for equity investments. A relative measure between the current market price of the company’s stock and an approximation of its economic worth. Some estimates of value could include: price-to-earnings, price-to-sales, or enterprise value to earnings before interest, taxes, depreciation, and amortization.

⁸ The estimated value of the company compared to firms within its own industry or product group. This helps to account for differences within the economy and associated expectations.

⁹ A measure of how the price of the asset is expected to move as a result of changes in expected inflation.

¹⁰ Adjustments made for level of diversification within the company. For example does the firm operate primarily in one industrial / product segment such as Nike or in multiple segments such as Amazon.

¹¹ Valuable capital that enhances firm value but is not physical and as such is not well accounted for in accounting measures. These ideas include for example patents, human capital, and unique data or information systems.

Carefully consider the Fund’s investment objectives, risk factors, charges and expenses before investing. This and additional information can be found in the Fund’s full and summary prospectus. Read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal. There can be no assurance that a Fund will achieve its stated objectives. An investment in the Fund may be subject to risks which include, among others, market, interest rate, tax, liquidity, leverage, non-diversified, investment restrictions, operational, authorized participant concentration, no guarantee of active trading market, trading issues, active management, fund shares trading, premium/discount and liquidity of fund shares and concentration risks, all of which may adversely affect the Fund. Diversification does not ensure profits or prevent losses.

Exchange-Traded Funds (ETFs) trade like stocks, are subject to investment risk, and will fluctuate in market value. Unlike mutual funds, ETF shares are not individually redeemable directly with the Fund and are bought and sold on the secondary market at market price, which may be higher or lower than the ETF’s net asset value (NAV). Transactions in shares of ETFs will result in brokerage commissions, which will reduce returns. Active Management Risk. The Fund is actively managed using proprietary investment strategies and processes. There can be no guarantee that these strategies and processes will be successful. Foreign Investment Risk. Foreign securities and emerging markets may involve risks such as social and political instability, market illiquidity, exchange-rate fluctuations, a high level of volatility and limited regulation. Cash and Cash Equivalents Risk. The Fund may hold cash or cash equivalents. Generally, such positions offer less potential for gain than other investments. Futures Risk. Investment in futures contracts involves leverage which means a small percentage of assets invested in futures can have a disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. The adviser’s use of futures for hedging purposes may not work as intended, resulting in losses for the Fund. The use of futures for hedging purposes may also limit potential gains for the Fund when compared to unhedged funds. Commodities Risk. Investing in the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may be influenced by various external factors such as unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions.

NOT FDIC INSURED * NO BANK GUARANTEE * MAY LOSE VALUE

Distributed by Paralel Distributors LLC.

Paralel Distributors LLC, ETF distributor and Anydrus Capital, ETF sponsor, do not provide financial advisory services or tax advice. Investors should consult a financial professional before making any investment decisions. Investors should also consult their own tax professionals for information regarding their own tax situations. This content is for informational purposes only and should not be construed as legal, tax, investment, financial, or other advice; nor should it be construed as a solicitation, recommendation, endorsement, or offer for any investment strategy or product for a particular investor.

Fund is advised by Collaborative Fund Advisors, LLC, a SEC-registered investment advisor.

Paralel Distributors LLC is not affiliated with Collaborative Fund Advisors, LLC or Anydrus Capital.

ETFs disclose their holdings daily and are subject to change and should not be considered buy/sell recommendations.