Author: Wes Gray

Important Information

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a Prospectus or Summary Prospectus with this and other information about the Fund, please call +1.215.330.4476 or visit our website at draietf.com. Read the prospectus or summary prospectus carefully before investing.

Investments involve risk. Principal loss is possible. Redemptions are limited and often commissions are charged on each trade. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

Bond Risk. The Fund is subject to the same risks as the underlying bonds in the portfolio such as credit, prepayment, call and interest rate risk. As interest rates rise the value of bond prices will decline.

Foreign and International Risk. The Fund invests in foreign and emerging market securities which involves certain risks such as currency volatility, political and social instability and reduced market liquidity.

High Yield Bond Risk. High-yield bonds have a higher risk of default or other adverse credit events but have the potential to pay higher earnings over investment grade bonds. The higher risk of default, or the inability of the creditor to repay its debt, is the primary reason for the higher interest rates on high-yield bonds. Examples of other adverse credit events are interest rate risk (when interest rates rise, bond prices fall) and economic risk (the risk associated with downturns in the economy).

Currency Risk. Currency Risk is the risk that the values of foreign investments may be affected by changes in the currency rates or exchange control regulations.

Mortgage-Related and Other Asset-Backed Securities Risk. Investments in mortgage-related and other asset-backed securities are subject to certain additional risks, including extension risk and prepayment risk. The value of these securities may be particularly sensitive to changes in interest rates. Some mortgage-backed securities are to be announced (TBA) securities, which have additional risks.

ETF Risk. The Fund invests in ETFs (Exchange-Traded Funds) and is therefore subject to the same risks as the underlying securities in which the ETF invests as well as entails higher expenses than if invested into the underlying ETF directly.

Non-Diversification Risk. The Fund is non-diversified which means it may be invested in a limited number of issuers and susceptible to any economic, political and regulatory events than a more diversified fund.

Gold Investment Risk. The Fund may have exposure to gold through its investments in other ETFs, so the Fund’s portfolio may be adversely affected by changes or trends in the price of gold. The price of gold and gold related instruments historically has been volatile.

The Securities and Exchange Commission (SEC) does not approve or disapprove of any investment. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. References to other funds should not to be interpreted as an offer of these securities.

The Fund is distributed by PINE Distributors LLC. The Fund’s investment adviser is Empowered Funds, LLC, which is doing business as ETF Architect. Draco Evolution Corp. serves as the Sub-adviser to the Fund. PINE Distributors LLC is not affiliated with ETF Architect or Draco Evolution Corp. Learn more about PINE Distributors LLC at FINRA’s BrokerCheck.