BNDY

The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by utilizing its Core Bond Strategy and implementing its Options Strategy. The Fund's Core Bond Strategy invests primarily in investment grade, U.S. dollar-denominated, fixed-rate taxable Fixed Income Instruments. The fund primarily invests in investment-grade fixed-income securities, including U.S. government and corporate bonds, and by employing put spread overlays designed to improve the Fund's overall return profile while managing downside risk. The Fund may use options to manage risk or generate additional income by selling and purchasing put and call options on broad-based indices or ETFs that track such indices. As part of the Options Strategy, the Fund may engage in put spreads, which involve selling a put option on a portion of the portfolio and purchasing a put option with a lower strike price. The Fund may also buy or write put and call options on individual securities or indices for investment purposes, hedging, or generating additional income. These strategies may include covered call writing, cash-secured puts, or other collateralized options strategies.