GBDV September 2021 Rebalance Announcement

The Global Beta Smart Income ETF will turnover in accordance with the rebalance of its underlying index, the Global Beta Smart Income Index, at the close of 09/17/21!

Please visit https://gbdv.globalbetaetf.com/ to view fund holdings find out more about the fund and its investment objective!

Oil futures are currently below its 30-day trailing price average as of 08/31/21, which will trigger our 3% energy sector cap. Additionally, below you will find securities in the fund that are at risk of being removed from the index:

Securities in Jeopardy

Ticker Company Name Current Price-to-Sales Ratio Current 12-Month Trailing Dividend Yield
MMM 3M Company 0.32 3.36%
GILD Gilead Sciences, Inc. 3.37 3.89%
NEE NextEra Energy, Inc. 1.75 8.68%
K Kellogg Company 1.54 3.62%
AMCR Amcor PLC 3.70 3.80%
AFG American Financial Group, Inc. 1.56 2.96%
HBAN Huntington Bancshares Incorporated 3.40 3.89%
ACC American Campus Communities, Inc. 7.85 3.77%
LSI Life Storage, Inc. 13.81 2.40%
COR CoreSite Realty Corporation 9.77 3.46%

Current price-to-sales ratio as of 08/31/21. 12-month trailing dividend yield based on price from 08/31/21 and 12-month trailing revenue as of most recently reported fiscal quarter. Price-to-sales takes the company’s current market capitalization and divides by the company’s most recently reported 12-month trailing revenue.

Below you will find securities that the index may be considering, given current valuations relative to their dividend yield and price-to-sales multiple:

Securities in Consideration

Ticker Company Name Current Price-to-Sales Ratio Current 1-Year Beta
T AT&T Inc. 1.11 7.70%
ABBV AbbVie, Inc. 3.97 4.22%
KHC Kraft Heinz Company 1.67 4.43%
QCOM Qualcomm Inc. 5.00 1.85%
GIS General Mills, Inc. 1.95 3.56%
D Dominion Energy Inc. 4.51 3.61%
AES AES Corporation 1.53 2.49%
CNP CenterPoint Energy, Inc. 1.89 2.44%
PDCO Patterson companies Incorporated 0.48 3.54%
MET MetLife, Inc. 0.78 3.00%

Current price-to-sales ratio as of 08/31/21. 12-month trailing dividend yield based on price from 08/31/21 and 12-month trailing revenue as of most recently reported fiscal quarter. Price-to-sales takes the company’s current market capitalization and divides by the company’s most recently reported 12-month trailing revenue.

As a reminder, our index methodology contemplates yield across all sectors. While yield for some securities may seem low on an absolute basis, it is actually high among their peers. This allows the index to be more diversified while also delivering strong yield. Below is a summary of the characteristics between the securities that are being considered versus those in jeopardy:

Turnover Recap

Current Price-to-Sales Ratio Current 12-month Trailing Dividend Yield
Stocks in Consideration of Index 2.29 3.68%
Stocks in Jeopardy of Index 4.71 3.98%

Current price-to-sales ratio as of 08/31/21. 12-month trailing dividend yield based on price from 08/31/21 and 12-month trailing revenue as of most recently reported fiscal quarter. Price-to-sales takes the company’s current market capitalization and divides by the company’s most recently reported 12-month trailing revenue. Dividend yield is calculated by dividing the dividends paid by the company over the past 12 months into the company’s current market capitalization.

Dividends represent past performance, and there is no guarantee that they will continue to be paid. The dividend yield is not representative of the fund’s yield.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges, and expenses. This and other information is in the prospectus or summary prospectus. A copy may be obtained by visiting www.globalbetaetfs.com or calling (833) 933-2083. Please read the prospectus or summary prospectus carefully before investing.

The fund’s primary risks:

Mid-Capitalization Securities Risk
The securities of mid-capitalization companies are often more volatile and less liquid than the stocks of larger companies and may be more affected than other types of securities during market downturns. Compared to larger companies, mid-capitalization companies may have a shorter history of operations, and may have limited product lines, markets or financial resources.

Concentration Risk
To the extent that the Target Index is concentrated in a particular industry, group of industries or sector, the Fund is also expected to be concentrated in that industry, group of industries or sector, which may subject the Fund to a greater loss as a result of adverse economic, business or other developments affecting that industry, group of industries or sector.

Dividend-Paying Securities Risk
The Fund’s emphasis on dividend-paying stocks involves the risk that such stocks may fall out of favor with investors and underperform the market. Also, a company may reduce or eliminate its dividend after the Fund’s purchase of such a company’s securities.

Large Capitalization Securities Risk
The securities of large market capitalization companies may underperform other segments of the market because such companies may be less responsive to competitive challenges and opportunities and may be unable to attain high growth rates during periods of economic expansion.

Distributor: Compass Distributors, LLC

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