Date: As of 10/20/2025. Source: GuruFocus.com. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar.

The referenced index is shown for general market comparisons and is not meant to represent the Fund. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees, expenses or sales charges.   The sectors are presented to illustrate examples of the sectors that the fund is allocated and the diversity of areas in which the fund may invest, and may not be representative of the fund’s current or future investments. Sector allocations are subject to change and should not be considered investment advice. Diversification does not ensure profits or prevent losses.

In summary, the GFGF strategy is designed to be distinctive—not a closet indexer—just as the Gurus themselves maintain unique portfolios. It aims to serve as a valuable hedge or alternative for clients whose portfolios tend to closely track traditional indexes.

Important Information

The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The Prospectus and Summary Prospectus contains this and other important information about the investment company, and it may be obtained by calling 215-330-4476 or visiting www.GuruFocusETF.com/gfgf/. Read it carefully before investing.

Investments involve risk. Principal loss is possible.  The Fund is actively managed and may not meet its investment objective based on the Adviser’s success or failure to implement investment strategies for the Fund.

For a glossary of terms, click here: https://gurufocusetf.com/glossary/.

ETFs may trade at a premium or discount to their net asset value. Redemptions are limited and often brokerage commissions are charged on each trade which may reduce returns.

The Sub‐Adviser considers a Guru to be a prominent long‐term investor and must have a long‐term, publicly available, track record of at least ten years. In addition, the Guru must follow an investment strategy of investing in companies that the Guru considers to be high‐quality. Securities recommended for the Fund is based on publicly available information, however, it may not always reflect real‐time portfolio holdings. As a result, the Fund may purchase or retain securities that are no longer favored by the Gurus, which may hurt the Fund’s performance.

Sector Risk. A certain sector may underperform other sectors or the market as a whole. As the Sub-Adviser allocates more of the Fund’s portfolio holdings to a particular sector, the Fund’s performance will be more susceptible to any economic, business or other developments which generally affect that sector.

The Fund may be subject to quantitative security selection risk. Data for some companies may be less available or current and could perform differently from the financial markets as a whole. Because the Fund’ portfolio is reconstituted on a semi‐annual basis, the Fund’ market exposure may be affected by significant market movements following a reconstitution or may lag a significant change in the market’s direction. Such lags between market performance and changes to the Fund’s exposure may result in significant underperformance relative to the market.

The fund may invest in medium‐capitalization companies which may be subject to greater risks than large company stocks due to limited resources and inventory as well as more sensitivity to adverse market conditions.

For a complete description of the Fund’s principal investment risks, please refer to the prospectus.

The information provided here is for informational purposes only and investors should determine for themselves whether a particular service or product is suitable for their investment needs. Investments in securities entail risk and are not suitable for all investors. Nothing herein constitutes or should be construed as an offering of securities or a recommendation to purchase or sell securities. Please refer to the disclosure and offering documents for further information concerning specific products or services. Where specific advice is necessary or appropriate, consult with a qualified tax advisor, CPA, financial planner or investment manager.

All expressions of opinion are subject to change without notice in reaction to market conditions. Data contained here from third-party providers are considered reliable sources. However, its accuracy, completeness or reliability are not guaranteed.

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

ETFAC- 4969753-11/25