Reckoner Yield Enhanced AAA CLO Reinvesting ETF RAAR Strategy

The investment seeks total return, while seeking to minimize making dividend or distribution payments. The fund is an actively managed exchange-traded fund (“ETF”) that pursues its investment objective by investing, under normal circumstances, at least 80% of its net assets in investments that provide exposure to debt tranches of collateralized loan obligations (“CLOs”) of any maturity or duration that are rated, at the time of purchase, AAA (or equivalent by a nationally recognized statistical rating organization (“NRSRO”)), which is the most senior level of debt tranche and considered to be investment-grade. It is non-diversified.