UTRN — Vesper U.S. Large Cap Short-Term Reversal Strategy ETF ☆

The investment seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the Vesper U.S. Large Cap Short-Term Reversal Index (the "index"). The fund will normally invest at least 80% of its total assets in securities of the index. The index is designed to measure the performance of a portfolio of 25 stocks selected from the S&P 500 that Vesper Capital Management, LLC believes will most likely benefit from the "short-term reversal" effect, as determined by applying a proprietary algorithm ("Chow's Ratio" or "Algorithm").