DIVY - Sound Income Strategies

Stay Invested, Generate Income

SDEI has a new ticker name as of 4/03/23, all fund documents are in the process of being updated.

Fund Information

Sound Equity Income ETF (DIVY) is an actively managed exchange-traded fund (ETF) that seeks current income and long-term capital appreciation.

DIVY seeks to achieve its investment objective by investing in common stock issued by dividend-paying, mid-and large-capitalization companies. The sub-adviser focuses on companies with what it believes are sound economic foundations, as demonstrated by indicators such as: generally positive cash flows, favorable profitability ratios and manageable leverage ratios.

Fund Documents

Fact Sheet

Prospectus

Summary Prospectus

SAI

Fiscal Q1 Holdings

Annual Report

Semi Annual Report

Fiscal Q3 Holdings

Investment Case

Fund Information

Fund Name	Sound Equity Income ETF
Fund Inception	12/30/20
Ticker	DIVY
Primary Exchange	NYSE Arca
CUSIP	886364793
NAV Symbol	SDEI.NV
Expense Ratio	0.45%
30 Day SEC Yield*	–

Fund Data and Pricing

Name
06/05/2023

Name	value
Net Assets	$23.80m
NAV	$24.41
Shares Outstanding	975,000.00
Premium/discount Percentage	0.16%
Closing Price	$24.45
Median 30 Day Spread**	1.33%

Data as of

*The 30-Day Yield represents net investment income earned by the Fund over a 30-Day period, expressed as an annual percentage rate based on the Fund’s share price at the end of the 30-Day period, and does not reflect any fee waivers/reimbursements/limits in effect.

Performance

Month-End

Quarter-End

Month-End

Name
05/31/2023

Fund Name	Fund Ticker	1 Month	3 Month	6 Month	YTD	1 Year	3 Year	5 Year	Since Inception Cumulative	Since Inception Annualized	Date
Sound Equity Income ETF	DIVY NAV	-6.62	-8.14	-8.89	-6.16	-8.60	–	–	30.88	11.78	05/31/2023
Sound Equity Income ETF	DIVY MKT	-6.51	-7.24	-8.73	-5.98	-8.70	–	–	30.90	11.79	05/31/2023
S&P 500 TR	SPTR2	0.43	5.75	3.33	9.65	2.92	–	–	16.32	6.46	05/31/2023

Quarter-End

Name
3/31/2023

Fund Name	Fund Ticker	1 Month	3 Month	6 Month	YTD	1 Year	3 Year	5 Year	Since Inception Cumulative	Since Inception Annualized	Date
Sound Equity Income ETF	DIVY NAV	-1.86	0.25	15.23	0.25	0.05	–	–	39.83	16.07	03/31/2023
Sound Equity Income ETF	DIVY MKT	-0.87	0.47	14.93	0.47	-0.64	–	–	39.89	16.09	03/31/2023
S&P 500 TR	SPTR2	3.67	7.50	15.62	7.50	-7.73	–	–	14.04	6.01	03/31/2023

As of January 31, 2023 (Cumulative)				As of December 31, 2022 (Annualized)
	MTD	QTD	YTD	QTD	YTD	1 Year	3 Year	Since Inception
Market Price	5.90%	5.90%	5.90%	14.39%	3.47%	3.47%	–	17.97%
Fund NAV	5.78%	5.78%	5.78%	14.94%	3.83%	3.83%	–	18.07%
Index	6.28%	6.28%	6.28%	7.56%	-18.11%	-18.11%	–	2.99%

The performance data quoted represents past performance. Past performance does not guarantee future results. Current performance may be lower or higher than the performance data quoted. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Returns less than one year are not annualized. For the most recent month-end-performance, please call (833) 916-9056. You cannot invest directly in an index. Shares are bought and sold at market price (closing price), not net asset value (NAV), and are individually redeemed from the Fund. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time when the NAV is typically calculated. Brokerage commissions will reduce returns.

Performance Returns Calendar Year

	YTD 2022
Market Price	5.90%
Fund NAV	5.78%

Distribution Detail

Fund Name	EX-Date	Record Date	Payable Date	Amount
SDEI	3/24/2021	3/25/2021	3/29/2021	0.1805
SDEI	6/1/2021	6/2/2021	6/4/2021	0.0326
SDEI	6/15/2021	6/16/2021	6/18/2021	0.0326
SDEI	6/29/2021	6/30/2021	7/2/2021	0.0326
SDEI	7/13/2021	7/14/2021	7/16/2021	0.0324
SDEI	7/27/2021	7/28/2021	7/30/2021	0.0320
SDEI	8/17/2021	8/18/2021	8/20/2021	0.0340
SDEI	8/31/2021	9/1/2021	9/3/2021	0.0340
SDEI	9/14/2021	9/15/2021	9/17/2021	0.0340
SDEI	9/28/2021	9/29/2021	10/1/2021	0.0340
SDEI	10/12/2021	10/13/2021	10/15/2021	0.0340
SDEI	10/26/2021	10/27/2021	10/29/2021	0.0340
SDEI	11/16/2021	11/17/2021	11/19/2021	0.0340
SDEI	11/30/2021	12/1/2021	12/3/2021	0.0340
SDEI	12/14/2021	12/15/2021	12/17/2021	0.0340
SDEI	12/28/2021	12/29/2021	12/31/2021	0.1100
SDEI	2/23/2022	2/24/2022	2/28/2022	0.0340
SDEI	4/12/2022	4/13/2022	4/18/2022	0.0340
SDEI	4/26/2022	4/27/2022	4/29/2022	0.0340
SDEI	5/11/2022	5/12/2022	5/16/2022	0.0340
SDEI	5/25/2022	5/26/2022	5/31/2022	0.0340
SDEI	6/13/2022	6/14/2022	6/16/2022	0.0340
SDEI	6/27/2022	6/28/2022	6/30/2022	0.0340
SDEI	7/12/2022	7/13/2022	7/15/2022	0.0340
SDEI	7/26/2022	7/27/2022	7/29/2022	0.0340
SDEI	8/11/2022	8/12/2022	8/16/2022	0.0340
SDEI	8/25/2022	8/26/2022	8/30/2022	0.0340
SDEI	9/12/2022	9/13/2022	9/16/2022	0.0340
SDEI	9/27/2022	9/28/2022	9/30/2022	0.0340
SDEI	10/25/2022	10/26/2022	10/28/2022	0.0340
SDEI	11/25/2022	11/28/2022	11/30/2022	0.0340
SDEI	12/13/2022	12/14/2022	12/16/2022	0.0340
SDEI	12/23/2022	12/27/2022	12/28/2022	0.0340
SDEI	1/10/2023	1/11/2023	1/13/2023	0.0340
SDEI	1/26/2023	1/27/2023	1/27/2023	0.0340
SDEI	2/14/2023	2/17/2023	2/17/2023	0.0340
SDEI	2/23/2023	2/24/2023	2/28/2023	0.0340
SDEI	3/12/2023	3/14/2023	3/16/2023	0.0340
SDEI	3/28/2023	3/29/2023	3/31/2023	0.0340
SDEI	4/11/2023	4/12/2023	4/14/2023	0.0340

Top 10 Holdings

Holdings subject to change.

Name
06/06/2023

Date	Account	SecurityName	StockTicker	CUSIP	Shares	Price	MarketValue	Weightings	NetAssets	SharesOutstanding	CreationUnits	MoneyMarketFlag
06/06/2023	DIVY	ABBVIE INC	ABBV	00287Y109	7,750	136.86	1,060,665.00	4.46%	23,797,605	975,000	39
06/06/2023	DIVY	FRANKLIN RESOURCES INC	BEN	354613101	29,448	25.04	737,377.92	3.10%	23,797,605	975,000	39
06/06/2023	DIVY	CITIGROUP INC	C	172967424	14,523	46.24	671,543.52	2.82%	23,797,605	975,000	39
06/06/2023	DIVY	CARTERS INC	CRI	146229109	6,984	62.67	437,687.28	1.84%	23,797,605	975,000	39
06/06/2023	DIVY	CISCO SYS INC	CSCO	17275R102	19,094	50.21	958,709.74	4.03%	23,797,605	975,000	39
06/06/2023	DIVY	HF SINCLAIR CORP	DINO	403949100	8,807	43.09	379,493.63	1.59%	23,797,605	975,000	39
06/06/2023	DIVY	DOW INC	DOW	260557103	9,558	51.50	492,237.00	2.07%	23,797,605	975,000	39
06/06/2023	DIVY	EDISON INTL	EIX	281020107	9,878	66.80	659,850.40	2.77%	23,797,605	975,000	39
06/06/2023	DIVY	ENBRIDGE INC	ENB	29250N105	26,559	37.31	990,916.29	4.16%	23,797,605	975,000	39
06/06/2023	DIVY	ENTERGY CORP NEW	ETR	29364G103	4,931	99.76	491,916.56	2.07%	23,797,605	975,000	39
06/06/2023	DIVY	GREIF INC	GEF/B	397624206	14,898	71.31	1,062,376.38	4.46%	23,797,605	975,000	39
06/06/2023	DIVY	GSK PLC	GSK	37733W204	21,646	34.28	742,024.88	3.12%	23,797,605	975,000	39
06/06/2023	DIVY	HASBRO INC	HAS	418056107	9,009	59.89	539,549.01	2.27%	23,797,605	975,000	39
06/06/2023	DIVY	BLOCK H & R INC	HRB	093671105	18,863	30.73	579,659.99	2.44%	23,797,605	975,000	39
06/06/2023	DIVY	INTERNATIONAL BUSINESS MACHS COM	IBM	459200101	6,260	132.64	830,326.40	3.49%	23,797,605	975,000	39
06/06/2023	DIVY	JOHNSON & JOHNSON	JNJ	478160104	3,315	158.32	524,830.80	2.21%	23,797,605	975,000	39
06/06/2023	DIVY	LYONDELLBASELL INDUSTRIES N V SHS - A -	LYB	N53745100	12,092	89.72	1,084,894.24	4.56%	23,797,605	975,000	39
06/06/2023	DIVY	MSC INDL DIRECT INC	MSM	553530106	6,597	92.93	613,059.21	2.58%	23,797,605	975,000	39
06/06/2023	DIVY	M & T BK CORP	MTB	55261F104	4,646	122.09	567,230.14	2.38%	23,797,605	975,000	39
06/06/2023	DIVY	NEW YORK CMNTY BANCORP INC	NYCB	649445103	92,243	10.57	975,008.51	4.10%	23,797,605	975,000	39
06/06/2023	DIVY	ONEOK INC NEW	OKE	682680103	14,588	58.72	856,607.36	3.60%	23,797,605	975,000	39
06/06/2023	DIVY	OMNICOM GROUP INC	OMC	681919106	13,826	91.05	1,258,857.30	5.29%	23,797,605	975,000	39
06/06/2023	DIVY	PATTERSON COS INC	PDCO	703395103	36,358	26.86	976,575.88	4.10%	23,797,605	975,000	39
06/06/2023	DIVY	PFIZER INC	PFE	717081103	21,458	38.65	829,351.70	3.49%	23,797,605	975,000	39
06/06/2023	DIVY	PRINCIPAL FINANCIAL GROUP INC COM	PFG	74251V102	10,086	68.39	689,781.54	2.90%	23,797,605	975,000	39
06/06/2023	DIVY	AT&T INC	T	00206R102	38,784	15.39	596,885.76	2.51%	23,797,605	975,000	39
06/06/2023	DIVY	TRUIST FINANCIAL CORP	TFC	89832Q109	15,471	31.74	491,049.54	2.06%	23,797,605	975,000	39
06/06/2023	DIVY	TOTALENERGIES SE	TTE	89151E109	14,590	58.33	851,034.70	3.58%	23,797,605	975,000	39
06/06/2023	DIVY	UNILEVER PLC	UL	904767704	11,327	50.39	570,767.53	2.40%	23,797,605	975,000	39
06/06/2023	DIVY	VALERO ENERGY CORP	VLO	91913Y100	6,998	107.39	751,515.22	3.16%	23,797,605	975,000	39
06/06/2023	DIVY	WALGREENS BOOTS ALLIANCE INC COM	WBA	931427108	29,746	31.25	929,562.50	3.91%	23,797,605	975,000	39
06/06/2023	DIVY	XEROX HOLDINGS CORP	XRX	98421M106	31,409	14.24	447,264.16	1.88%	23,797,605	975,000	39
06/06/2023	DIVY	Cash & Other	Cash&Other	Cash&Other	148,704	1.00	148,704.10	0.62%	23,797,605	975,000	39	Y

Data as of

ETF holdings and allocations are subject to change at any time and should not be interpreted as an offer of these securities.

How to purchase our ETFs

Sound Income Strategies DIVY ETF is available through various channels including via phone (833) 916-9056, broker-dealers, investment advisers, and other financial services firms, including:

The Fund is not affiliated with these financial service firms. Their listing should not be viewed as a recommendation or endorsement.

Sound Income ETFs

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 calling (833) 916-9056 or viewing here. Please read the prospectus carefully before you invest.

Investing involves risk, including the potential loss of principal. There is no guarantee that the Funds investment strategy will be successful. Shares may trade at a premium or discount to their NAV in the secondary market. The Fund is new and has a limited operating history. The Fund has a limited number of financial institutions that are authorized to purchase and redeem shares directly from the Fund; and there may be a limited number of market makers or other liquidity providers in the marketplace. Since the Fund is actively managed it does not seek to replicate the performance of a specified index. The Fund may frequently trade all or a significant portion of its portfolio; and have higher portfolio turnover than funds that do seek to replicate the performance of an index. Securities rated below investment grade are often referred to as high yield securities or “junk bonds.” Investments in lower rated corporate debt securities typically entail greater price volatility and principal and income risk. High yield securities may be more susceptible to real or perceived adverse economic and competitive industry conditions than investment grade securities.

The Fund may, at times, hold illiquid securities. The Fund could lose money if it is unable to dispose of an illiquid investment at a time or price that is most beneficial to the Fund. The Fund’s investments in bonds and other debt securities will change in value based on changes in interest rates. If rates rise, the value of these investments generally declines. Securities with greater interest rate sensitivity and longer maturities generally are subject to greater fluctuations in value. The Fund is considered to be non-diversified, which means that it may invest more of its assets in the securities of a single issuer or a smaller number of issuers than if it were a diversified fund.

The Fund is distributed by Foreside Fund Services, LLC.