The investment objective of the fund is to seek long-term capital appreciation in a manner that is consistent with capital preservation. TBFC is an actively managed fund of funds, which seeks to achieve its investment objective by investing in a globally diversified portfolio of equity and bond markets. The Fund systematically adjusts its holdings using two proprietary strategies developed by the Fund’s investment adviser, The Milwaukee Company (the “Adviser”), that are run independently. Those strategies are the Systematic Market Beta Strategy 1 (“SMB”) and the Classic Asset Allocation Revisited Strategy (“CAAR”). SMB and CAAR systematically rebalance the underlying funds in which the Fund may invest based on a set of proprietary risk-management techniques. 

The investment objective of the fund is to seek long-term growth of capital. The Fund is an actively managed fund of funds, which seeks to achieve its investment objective by investing in a globally diversified portfolio of equity and bond markets. TBFG systematically adjusts its holdings using two proprietary strategies developed by the Fund’s investment adviser, The Milwaukee Company (the “Adviser”), that are run independently. Those strategies are the Systematic Market Beta Strategy (“SMB”) and the Classic Asset Allocation Revisited Strategy (“CAAR”). SMB and CAAR systematically rebalance the underlying funds in which the Fund may invest based on a set of proprietary risk-management techniques. The underlying funds in which the SMB strategy may invest represent distinct asset classes, such as (1) the aggregate U.S. equity market, (2) large-capitalization U.S. equities, (3) small-cap U.S. equities, (4) U.S. real estate sector equities through a broad real estate index-based ETF, (5) the aggregate U.S. bond market, (6) short-term U.S. Treasuries, and (7) diversified commodity exposure through No K-1 ETFs, which may hold futures contracts. 

CCEF seeks to deliver high monthly income and capital appreciation by investing in income producing closed-end funds trading at attractive discounts. The Fund is an actively managed exchange-traded fund (“ETF”) that seeks high current income and long-term capital appreciation by investing in unaffiliated closed-end funds that the Fund's investment adviser, Calamos Advisors LLC (“Calamos Advisors” or the “Adviser”), believes offer both attractive income opportunities as well as arbitrage opportunities resulting from such closed-end funds trading at attractive discounts (market prices that are less than the closed-end funds’ net asset value (“NAV”)). 

YMAX is an actively managed exchange-traded fund that seeks to generate current income. The Fund is a “fund of funds,” meaning that it primarily invests its assets in the shares of other ETFs, rather than in securities of individual companies. In addition, from time to time, the Fund may invest directly in the securities and financial instruments in which one or more Underlying YieldMax ETFs. Each Underlying YieldMax ETF employs a synthetic covered call strategy that seeks to generate income from option premiums and provide indirect exposure to a specific security’s share price returns, with a cap on potential gains. 

CCMG is an actively managed exchange-traded fund (“ETF”) that invests primarily in diversified equity exposure to domestic and international companies, as well as emerging markets, in a single fund Exposure to large, mid, and small cap stocks by investing in individual stocks and ETFs. A systematic, active investment strategy with a focus on profitable companies selling at attractive valuations that have a history of returning capital to shareholders and distinct risk management focus designed to provide investors with an investment portfolio that complements the inherent risks involved in financial planning.

PABD seeks to track the investment results of an index composed of large- and mid-capitalization developed market equities, excluding the U.S., that is designed to be compatible with the objectives of the Paris Agreement by, in aggregate, following a decarbonization trajectory, reducing exposure to climate-related transition and physical risks and increasing exposure to companies favorably positioned for the transition to a low-carbon economy. The Fund seeks to track the investment results of the MSCI World ex USA Climate Paris Aligned Benchmark Extended Select Index (the “Underlying Index”), based on MSCI World ex USA Index (parent index) which has been developed by MSCI Inc.

RJMG seeks to provide long-term capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of growth companies, as identified by the Fund’s sub-advisor, Raymond James & Associates, Inc. (“Raymond James” or the “Sub-Advisor”). The Fund seeks to achieve its objective by investing in a portfolio of U.S.-listed equity securities, including common stocks and real estate investment trusts (“REITs”) that are rated “Strong Buy” or “Outperform” by Raymond James Equity Research and exhibit growth characteristics by a model developed and overseen by Raymond James.

YBTC's primary investment objective is to provide current income. The Fund’s secondary investment objective is to provide exposure to the price return of one or more exchange-traded funds that provide exposure to bitcoin and whose shares trade on a U.S.-regulated securities exchange. YBTC is an actively-managed ETF. YBTC seeks to generate monthly income through a covered call strategy on bitcoin, which has historically offered significant option premiums.

The investment objective of XJAN is to seek to provide investors with returns (before fees and expenses) of approximately twice any positive price return of the SPDR S&P 500 ETF Trust (the “Underlying ETF”), up to a predetermined upside cap of 10.44% while providing a buffer (before fees and expenses) against the first 15% of Underlying ETF losses, over the period from January 22, 2024 through January 17, 2025. The Fund uses FLEX Options to employ a “target outcome strategy.” Target outcome strategies seek to produce pre-determined investment outcomes based upon the performance of an underlying security or index.

Under normal circumstances, MNTL seeks to achieve its investment objective by investing at least 80% of its net assets, which include borrowings for investment purposes, in neuroscience and mental health companies. A company is generally considered to be a neuroscience or mental health company that derives at least 50% of revenues from neuroscience or neurology-related diseases, or mental health. 

COAL seeks to provide exposure to companies that are involved in the metallurgical (met) and thermal coal industry. Companies classified as “Coal Industry” are likely engaged in one of the following areas production, exploration, development, transportation, and distribution (“Coal Companies”). Companies eligible for inclusion based on their exposure to the Coal Industry are those companies that have publicly disclosed through regulatory filings (e.g., Form 10-K, 10-Q, 20-F, and 8-K filings), quarterly earnings reports, company presentations or official earnings conference call transcripts either that they currently provide or intend to provide or operate services in, to, or in connection with the Coal Industry. 

LNGZ aims to provide investors with exposure to companies that are involved in the liquefied natural gas (“LNG”) ecosystem. Companies classified as an “LNG Ecosystem” are likely engaged in one of the following areas production, exploration, development, transportation, and distribution. Companies eligible for inclusion based on their exposure to the LNG Ecosystem are those companies that have publicly disclosed through regulatory filings (e.g., Form 10-K, 10-Q, 20-F, and 8-K filings), quarterly earnings reports, company presentations or official earnings conference call transcripts either that they currently provide or intend to provide or operate services in, to, or in connection with the LNG ecosystem. 

NUKZ is designed to provide exposure to companies that are involved in the following segments Advanced Reactor, Utilities, Construction & Services, and Fuel. Companies eligible for inclusion based on their exposure to the Nuclear Industry are those companies that have publicly disclosed through regulatory filings (e.g., Form 10-K, 10-Q, 20-F, and 8-K filings), quarterly earnings reports, company presentations or official earnings conference call transcripts either that they currently provide or intend to provide or operate services in, to, or in connection with the Nuclear Industry. 

OFOS is designed to provide exposure to companies that are involved in the offshore oil services ecosystem. Companies classified as “Offshore Oil Services” are likely engaged in one of the following areas production, exploration, development, transportation, and distribution. Companies eligible for inclusion based on their exposure to the Offshore Oil Ecosystem are those companies that have publicly disclosed through regulatory filings (e.g., Form 10-K, 10-Q, 20-F, and 8-K filings), quarterly earnings reports, company presentations or official earnings conference call transcripts either that they currently provide or intend to provide or operate services in, to, or in connection with the Offshore Oil Ecosystem.

TRES is an actively-managed exchange-traded fund (“ETF”) that seeks to generate current income by investing in U.S. government securities, including U.S. Treasury Bills and U.S. Treasury Bonds (“Treasuries”) with a targeted portfolio duration of one year or less and employing defined risk option strategies. These strategies include credit spreads, debit spreads, long calls, and long puts. To implement these risk strategies, the Fund will purchase and sell option contracts on selected exchange-traded Treasury funds (“Treasury ETFs”). The Fund will not invest directly in Treasury ETFs.

BBBI is newly organized, non-diversified and seeks to track the investment results (i.e., the total return) of the Bloomberg US Corporate BBB 5-10 Year Index (the “Index”), before fees and expenses, of the Fund. The Index is designed to reflect the performance of BBB (or its equivalent) fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. industrial, utility and financial issuers (as determined by Bloomberg Index Services 10 Limited (the “Index Provider”)). 

BBBL is newly organized, non-diversified and seeks to track the investment results (i.e., the total return) of the Bloomberg US Corporate BBB 10 Year Index (the “Index”), before fees and expenses, of the Fund. The Index is designed to reflect the performance of BBB (or its equivalent) fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. industrial, utility and financial issuers (as determined by Bloomberg Index Services 18 Limited (the “Index Provider”)). 

BBBS is newly organized, non-diversified and seeks to track the investment results (i.e., the total return) of the Bloomberg US Corporate BBB 1-5 Year Index (the “Index”), before fees and expenses, of the Fund. The Index is designed to reflect the performance of BBB (or its equivalent) fixed-rate, taxable U.S. dollar-denominated corporate bonds issued by U.S. and non-U.S. industrial, utility and financial issuers (as determined by Bloomberg Index Services Limited (the “Index Provider”)). 

INAV is an actively managed exchange traded fund (“ETF”) that is managed by Retireful, LLC (the “Adviser”) and designed for investors looking for long-term growth and who can tolerate large principal value fluctuations. The Adviser seeks to achieve the Fund’s investment objective by using a tactical approach to invest in the various industries that are found in the component sectors of the S&P 500 Index. The Adviser’s tactical investment strategy allocates the Fund’s assets to these industries based on the Adviser’s investment research process (as discussed below). “Nav” refers to the Fund’s strategy of seeking to “navigate” the Fund’s potential universe of investments through the use of the Adviser’s top-down process.

QFLR is designed to provide Nasdaq-100 equity exposure with reduced volatility, built-in tail risk protection, and high upside capture. The fund is sub-advised by Parametric. The Fund is an actively managed exchange-traded fund (“ETF”) that, under normal market circumstances, seeks to provide capital appreciation through participation in the large-capitalization U.S. equity securities of the Nasdaq-100 Index (the “Nasdaq-100”) while limiting the potential for maximum losses. 

QMID seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. MidCap Quality Growth Index. The WisdomTree U.S. MidCap Quality Growth Index is a market-cap weighted index that consists of companies with quality and growth characteristics. The top 60% of U.S. companies by market capitalization, after the 500 largest companies have been removed, are ranked on a composite score of two fundamental factors growth and quality, which are equally weighted. 

QSML seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Quality Growth Index. Uses as a U.S. growth investing strategy that combines quality, growth and size factors. Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the constituent securities of the Index, each of which is a security issued by a small-cap company, identified in accordance with the Index Provider’s (as defined below) market-capitalization selection parameters, that is incorporated and headquartered in the United States. 

AMJB Due January 28 2044 provide investors a convenient way to gain exposure to midstream energy MLPs. The ETNs pay a variable quarterly coupon linked to the cash distributions paid on the MLPs in the index, less accrued tracking fees. The Index measures the composite performance of MLPs that earn the majority of their cash flows from qualified activities involving energy commodities, which are referred to as Index Components, using a capped, float-adjusted, capitalization-weighted methodology. Qualified activities include compression, gathering and processing, liquefaction, marketing, pipeline transportation, rail terminating and storage of energy commodities.

NBOS is an actively managed Exchange Traded Fund (ETF). NBOS seeks long term growth of capital and income generation. The Fund seeks to achieve its goal primarily through a strategy of writing collateralized put options on U.S. indices, including the S&P 500 Index and other indices in the S&P 500 suite of indices, and exchange traded funds. The Fund attempts to generate returns through the receipt of option premiums from selling puts, as well as through investments in fixed income instruments, which collectively are intended to reduce volatility relative to what it would be if the Fund held the underlying equity index on which the options are written. 

YMAG is an actively managed exchange-traded fund that seeks to generate current income. The Fund is a fund of funds, meaning that it primarily invests its assets in the shares of other ETFs, rather than in securities of individual companies. In addition, from time to time, the Fund may invest directly in the securities and financial instruments in which one or more Underlying YieldMax ETFs invests. 

MVPA is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in securities that Miller Value Partners, LLC (the “Adviser”) believes have an above-average probability of outperforming the S&P 500 Index (the “S&P 500”) over a multi-year time horizon. The Fund will typically invest in a portfolio of approximately 20-40 common stocks without regard to market capitalization. In selecting investments for the Fund’s portfolio, the Adviser seeks maximum flexibility to identify stocks that are undervalued and likely to generate excess returns, using models designed to estimate possible outcomes under various conditions. 

QQQI seeks to generate high monthly income in a tax efficient manner with the potential for equity appreciation. The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a portfolio of stocks that make up the Nasdaq-100 Index (the “Nasdaq100” or the “Reference Index”) and a call options strategy, that consists of written (sold) call options on the Nasdaq100 Index (“NDX call options”). The Fund seeks to generate high monthly income from the premiums earned from the NDX call options as well as the dividends received from the Fund’s equity holdings.