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Fund Summary

As of: 05/18/2022
Fund NameThe Fear of Missing Out ETF
TickerFOMO
CUSIP19423L 664
ISINUS19423L6645
Primary ExchangeCboe BZX Exchange, Inc.
NAV$19.18
Market Closing Price$19.17
Fund Inception Date05/25/21
Number of Holdings9
Gross Expense Ratio0.90%*
30 Day Median Bid-Ask0.25%
Management StyleActively Managed
Options AvailableNo
Shares Outstanding300,000
Net Assets$5,754,450
Portfolio AdvisorTuttle Capital Management

* Estimated for the current fiscal period

Fund Documents

Fund Objective

FOMO (the “Fund”) seeks to provide capital appreciation. The Fund takes its name from the phrase “Fear of Missing Out” and seeks to reflect current or emerging trends. 

Principal Investment Strategy

In pursuing the Fund’s investment objective, the Fund will invest primarily in equity securities of U.S., foreign, and emerging market companies of any market capitalization and special purpose acquisition companies (“SPACs”). The Fund many invest in SPACs that have yet to complete a business combination transaction or companies that have completed a business combination transaction with a SPAC within the last two years. The Fund may also invest in equity exchange-traded funds (“ETFs”), fixed income ETFs, volatility and inverse volatility ETFs and ETNs, leveraged and inverse ETFs and ETNs. The Fund invests, on a short-term basis, in inverse and leveraged ETFs that seek to provide the inverse performance of stock indices, treasury bonds, and volatility ETFs.

Informed Agility

FOMO completely adheres to the principles of informed agility, which can be a strong methodology in managing money in today’s turbulent climate.

Cuts through Noise

FOMO helps cut through the chatter and market noise, which few investors have time to discern, to focus on what’s “important” news.

NAV & Market Price

As of: 05/18/2022

FOMO – Fund Holdings

As of: 05/18/2022
TickerSecurity DescriptionCUSIP% of FundSharesMarket Value
CASH AND CASH EQUIVALENTS67.10%3,864,190$3,864,190
IPOFSOCIAL CAPITAL HEDOSOPHIAG8251L1057.05%40,579$405,790
IPODSOCIAL CAPITAL HEDOSOPHIAG825141035.08%29,413$292,659
XLEEnergy Select Sector SPDR Fund81369Y5065.05%3,559$290,841
GGPI USGORES GUGGENHEIM INC38286Q1074.32%24,339$248,501
ESSC USEAST STONE ACQUISITION COG2911D1084.00%22,230$230,081
LLYELI LILLY & CO5324571082.53%492$145,806
WEATTEUCRIUM WHEAT FUND88166A5082.46%11,802$141,624
OXYOCCIDENTAL PETROLEUM CORP6745991052.42%2,168$139,402

Performance

As of: 04/30/20221 month3 months6 months1 yearYTDSince Inception
NAV-4.82%-8.40%-22.09%XX.XX-13.34%-20.48%
Market Price-4.72%-8.80%-22.05%XX.XX-13.48%-20.46%

Performance Disclosure

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

Market performance is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

As of: 03/31/20221 month3 months6 months1 yearYTDSince Inception
NAV-2.61%-8.95%-12.62%XX.XX-8.95%-16.45%
Market Price-2.56%-9.19%-12.61%XX.XX-9.19%-16.52%

Performance Disclosure

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.

Market performance is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Premium/Discount

As of: 05/18/2022
Premium/DiscountPremium (# of Days - Quarter)Discount (# of Days - Quarter)Premium/Discount (# of Days - Quarter)Premium/Discount (# of Days - YTD)Number of Days at 2%
-0.04%11223395None (0 days in the last year)

Distributions

Ex-dateRecord DatePay DateDividendSt Cap GainLT Cap GainTotal Distribution (per share)
12/27/202112/28/202112/29/2021$0.352275$0.00$0.00$0.352275

Frequency Distribution of Premiums and Discounts

(January 1, 2022 through March 31, 2022)*



Fund Total # of Days Fund Closed at Premium for the Quarter Total # of Days Fund Closed at Discount for the Quarter Total # of Days Fund Closed at Premium / Discount for the Quarter
The Fear of Missing Out ETF (FOMO) 40 22 62

*Fund Inception Date: 05/25/2021

Frequency Distribution of Premiums and Discounts

(January 1, 2022 through March 31, 2022)*



Fund Total # of Days Fund Closed at Premium for the Quarter Total # of Days Fund Closed at Discount for the Quarter Total # of Days Fund Closed at Premium / Discount for the Quarter
The Fear of Missing Out ETF (FOMO) 40 22 62

*Fund Inception Date: 05/25/2021

Supplemental Discussion

The Advisor will provide a discussion in the event the ETF’s premium or discount has been greater than 2% for seven consecutive trading days.

Disclosures

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are contained in the prospectus. Please read the prospectus carefully before investing.

The principal risks of investing in FOMO include: 

Authorized Participant Risk: Only an Authorized Participant may engage in creation or redemption transactions directly with the Fund. 

ETF Risk: ETFs are subject to investment advisory fees and other expenses, which will be indirectly paid by the Fund. As a result, your cost of investing in the Fund will be higher than the cost of investing directly in ETFs and may be higher than other mutual funds that invest directly in securities. ETF shares may trade at a discount to or a premium above net asset value if there is a limited market in such shares. ETFs are also subject to brokerage and other trading costs, which could result in greater expenses to the Fund. Index-tracking ETFs in which the Fund invests will not be able to replicate exactly the performance of the indices they track because the total return generated by the securities will be reduced by transaction costs incurred in adjusting the actual balance of the securities or index. Each ETF is subject to specific risks, depending on its investments. 

ETN Risk: ETNs are unsecured contractual obligations issue by a bank or broker-dealer. Accordingly, ETNs are subject to the risk that the issuer bank or broker dealer will not fulfill its obligations, potentially resulting in losses to the Fund.

Fixed Income Risk: When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Other risk factors include credit risk (the debtor may default) and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment, possibly causing the Fund’s share price and total return to be reduced and fluctuate more than other types of investments. 

High Yield Risk: Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. 

Large Capitalization Risk Stock Risk: Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. 

Management Risk: The ability of the Fund to meet its investment objective is directly related to the Adviser’s investment model. 

Market and Geopolitical Risk: The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. 

Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs. 

Short Selling Risk: If a security sold short or other instrument increases in price, the Fund may have to cover its short position at a higher price than the short sale price, resulting in a loss. 

Small and Medium Capitalization Stock Risk: The earnings and prospects of small and medium sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. 

SPAC Risk: The Fund invests in companies that have completed a business combination transaction with a SPAC as well as SPACs that have not yet completed a business combination transaction. SPACs are companies may be unseasoned and lack a trading or operational history, a track record of reporting to investors, and widely available research coverage. Public stockholders of SPACs may not be afforded a meaningful opportunity to vote on a proposed initial business combination because certain stockholders, including stockholders affiliated with the management of the SPAC, may have sufficient voting power, and a financial incentive, to approve such a transaction without support from public stockholders. As a result, a SPAC may complete a business combination even though a majority of its public stockholders do not support such a combination. In addition, SPAC-derived companies may share similar illiquidity risks of private equity and venture capital. The free float shares held by the public in a SPAC-derived company are typically a small percentage of the market capitalization. The ownership of many SPAC-derived companies often includes large holdings by venture capital and private equity investors who seek to sell their shares in the public market in the months following a business combination transaction when shares restricted by lock-up are released, causing greater volatility and possible downward pressure during the time that locked-up shares are released.