DAY HAGAN/
NED DAVIS RESEARCH
SMART SECTOR® ETF

OVERVIEW

FUND INFORMATION

The Day Hagan/Ned Davis Research Smart Sector® ETF seeks long-term appreciation and preservation of capital. Day Hagan Asset Management actively manages the Fund’s portfolio using proprietary investment models co-developed with Ned Davis Research. The Fund seeks to achieve its investment objective by principally investing in unaffiliated equity exchange-traded funds (ETFs) that track the performance of the individual sectors of the S&P 500 Index. The Fund attempts to enhance returns relative to the Index by overweighting and underweighting its exposure to the Sectors relative to the Index and may reduce its overall exposure to ETF’s as determined by its risk management model.

FUND NAME: DAY HAGAN/NED DAVIS RESEARCH SMART SECTOR® ETF

TICKER: SSUS

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Benchmark:	S&P 500 Index Total Return	Inception Date:	01/17/2020	Management Style:	Active
CUSIP:	86280R803	Total Gross Expense Ratio:	0.78%	Asset Class:	Equity
Exchange:	NYSE Arca, Inc.	Advisor:	Day Hagan Asset Management	IOPV Ticker Symbol*:	SSUS.IV

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*IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.
**“Net asset value” or “NAV” is determined by adding up the value of all the assets in the fund, including assets and cash, subtracting any liabilities, and then dividing that value by the number of outstanding shares in the ETF.
***Market Price is defined as the official closing price of the ETF share.
****30-Day Median Bid/Ask Percentage Spread Calculation: Based on Rule 6c-11(c)(1)(v), to calculate the median bid-ask spread the fund, (i) identifies the ETF’s NBBO as of the end of each 10-second interval during each trading day of the last 30 calendar days; (ii) divides the difference between each such bid and offer by the midpoint of the NBBO; and (iii) identify the median of those values.

LITERATURE

PREMIUM/DISCOUNT

As of August 6, 2020

PREMIUM / DISCOUNT

Daily median NBBO data for the most recent calendar year is not available due to the fund’s limited history. The data will be included when available.

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares because shares are bought and sold at current market prices.

*Distribution rate is calculated by annualizing the most recent distribution amount paid, excluding special distributions, divided by the closing market price or NAV. 

Daily median NBBO data for the most recent calendar year is not available due to the fund’s limited history. The data will be included when available.

Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares because shares are bought and sold at current market prices.

*Distribution rate is calculated by annualizing the most recent distribution amount paid, excluding special distributions, divided by the closing market price or NAV. 

PORTFOLIO HOLDINGS

IMPORTANT HOLDINGS INFORMATION: Portfolio holdings are based on total portfolio, and are subject to change at any time. Holdings are provided for informational purposes only and should not be construed as a recommendation to purchase or sell any security. Any negative allocations or allocations in excess of 100% are primarily due to unsettled trade activities.

IMPORTANT INFORMATION: All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s webpage for specific details regarding investment objective, risks, performance and other important information. Review this information carefully before you make any investment decision. Investors cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges.

Carefully consider a fund’s investment objectives, risks, charges and expenses before investing. Please view the prospectus or summary prospectus for this and other information. Read it carefully. 

Authorized participants (“APs”) may acquire shares in the primary market directly from the ETFs and may tender their shares for redemption directly to the ETFs, at net asset value per share only in Creation Units or Creation Unit Aggregations. Once created, shares of the funds generally trade in the secondary market in amounts less than a Creation Unit.

Retail investors buy and sell shares of ETFs at market price (not NAV) in the secondary market throughout the trading day. These shares are not individually available for purchase or redemption directly from the ETF.

If you are neither a resident nor a citizen of the United States or if you are a non-U.S. entity, the ETF’s ordinary income dividends (which include distributions of net short-term capital gains) will generally be subject to a 30% U.S. federal withholding tax, unless a lower treaty rate applies. For further information, please see each fund’s prospectus.

Redemption payments will be effected within the specified number of calendar days following the date on which a request for redemption in proper form is made. Please see each fund’s Statement of Additional Information (SAI) for more information.

FINANCIAL ADVISORS: Please note that not all products may be available for sale at your firm. Please call Day Hagan Asset Management 1-800-594-7930 or your Day Hagan Asset Management Sales contact for more information.

Exchange Traded Funds (ETFs) — A type of investment company that is bought and sold on a securities exchange. ETFs generally represent a portfolio of securities, derivative instruments, currencies or commodities. The risks of owning an ETF generally reflect the risks of owning the underlying securities or commodities the ETF is designed to track. ETFs also have management fees and operating expenses that increase their costs.

Day Hagan Asset Management, its affiliates, and its employees are not in the business of providing tax or legal advice to taxpayers. These materials and any tax-related statements are not intended or written to be used, and cannot be used or relied upon, by any such taxpayer for the purpose of avoiding tax penalties or complying with any applicable tax laws or regulations. Tax-related statements, if any, may have been written in connection with the “promotion or marketing” of the transaction(s) or matter(s) addressed by these materials, to the extent allowed by applicable law. Any such taxpayer should seek advice based on the taxpayer’s particular circumstances from an independent tax advisor.