XBOX

The Fund is an actively managed ETF that seeks to achieve its investment objective through multiple combinations of synthetic long and short exchange-listed options positions, each known as a box spread ("Box Spread") and collectively referred to as box spreads ("Box Spreads"). The Fund's synthetic long position is created though the purchase of a call option and sale of a put option, purchased or sold on the same reference asset, strike price and expiration date. The Fund's synthetic short position is created through the purchase of a put option and sale of a call option, purchased or sold on the same reference asset and expiration date as the synthetic long position, but at a higher strike price from the synthetic long position. The Fund expects to regularly buy, hold, and sell several Box Spreads. The Fund's Box Spread positions are expected to have maturities ranging from one to six months at the time they are established (i.e., "ultra short durations"). The Fund intends to use options on diversified securities, such as SPDR S&P 500 ETF Trust and Invesco QQQ Trust, Series 1, as the reference assets for its Box Spread positions.