AGIQ: Agentic AI ETF

¹ The Fund’s investment adviser, Tidal Investments LLC (“Tidal” or the “Adviser”), a Tidal Financial Group company, will pay, or require a third-party to pay, all expenses incurred by the Fund (except for advisory fees and sub-advisory fees, as the case may be) excluding interest charges on any borrowings, dividends and other expenses on securities sold short, taxes, brokerage commissions and other expenses incurred in placing orders for the purchase and sale of securities and other investment instruments, acquired fund fees and expenses, accrued deferred tax liability, distribution fees and expenses paid by the Fund under any distribution plan adopted pursuant to Rule 12b-1 under the Investment Company Act of 1940 (the “1940 Act”), and litigation expenses, and other non-routine or extraordinary expenses (collectively, the “Excluded Expenses”).

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by clicking here. Please read the prospectus carefully before you invest.

Investors buy and sell ETF shares through a brokerage account or an investment advisor. Like ordinary stocks, brokerage commissions, and/or transaction costs or services fees may apply. Please consult your broker or financial advisor for their fee schedule.

Agentic AI Industry Risk. Companies focused on emerging artificial intelligence technologies may be subject to rapid technological change, competitive pressures, regulatory uncertainty, intellectual property challenges, and potential obsolescence.

Concentration Risk. Because the Fund invests heavily in companies involved in agentic AI, it may be more volatile and sensitive to industry-specific developments than more diversified funds.

Index Methodology Risk. The BITA US Agentic AI Select Index may not successfully identify companies that will benefit from agentic AI trends, and there is no guarantee the Fund will achieve its investment objective.

Market Risk. Equity securities are subject to general market fluctuations, which may cause the value of the Fund to decline regardless of company or sector performance.

Non-Diversification Risk. The Fund is classified as “non-diversified,” meaning it may invest a larger percentage of assets in fewer issuers, which increases risk and volatility.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Foreign and Emerging Markets Risk. Investments in foreign securities may involve additional risks such as currency fluctuations, political and economic instability, less liquidity, and different accounting or regulatory standards. Investing in emerging markets involves different and greater risks, as these countries are substantially smaller, less liquid, and more volatile than more developed markets.

Median 30 Day Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

Benchmark Disclosure. The Fund seeks to track the BITA US Agentic AI Select Index, which is composed of U.S. exchange-listed companies deriving significant revenue from agentic AI activities. There is no guarantee the Fund will achieve its investment objective, and the Index may not perform as intended.

ETF Trading Risk. As with all ETFs, Shares may be bought and sold in the secondary market at market prices. Although it is expected that the market price of Shares will approximate the Fund’s NAV, there may be times when Shares trade at a premium or discount due to supply and demand or during periods of market volatility.

General Investing Risk. There is no guarantee that the Fund’s investment strategy will be successful. Holdings and returns may deviate from those of its Index. You can lose money on your investment in the Fund. Diversification does not ensure profit or protect against loss in declining markets.

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Investors buy and sell ETF shares through a brokerage account or an investment adviser like ordinary stocks, brokerage commissions and/or transaction costs or service fees may apply. Please consult your broker or financial advisor for their fee schedule. The Fund’s investment adviser has agreed to waive its Management Fees for the Funds until at least January 31, 2025.

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