THE FREE MARKETS ETF FMKT Stock Analysis

About THE FREE MARKETS ETF

TheFund invests in U.S.-listed equity securities of companies that the Fund’s investment sub-advisers, Point Bridge Capital,LLC (“Point Bridge”) SYKON Asset Management LLC (“SYKON”) and Tactical Rotation Management, LLC (“TRM”)(each, a “Sub-Adviser,” and together, the “Sub-Advisers”) expect to benefit from shifts in the regulatoryenvironment that are supportive of free market dynamics. These investments may include companies operating in segments of theeconomy currently burdened by high levels of regulation, such as the healthcare, financial services, and energy sectors, wherethe Sub-Advisers anticipate regulatory relief. They may also include companies expected to be less adversely affected by increasedregulation, such as those in the technology and consumer goods sectors. The Sub-Advisers consider the following to be examplesof shifts in the regulatory environment that would be supportive of free market dynamics: removal of government-imposed rulesand regulations on specific industries, reduced taxes or tax incentives, licensing reforms, elimination of tariffs, reductionof quotas, reduction of subsidies. Byinvesting in companies the Sub-Advisers believe are poised to benefit from regulatory reform and market liberalization, the Fundseeks to unlock value across economic sectors. In addition, the Sub-Advisers believe the Fund’s investments may also provideprotection against the impact of heightened regulatory burdens by investing in companies expected to demonstrate resilience undersuch conditions. Inaddition to individual equity securities, the Fund may invest in other ETFs (each, an “Underlying ETF”) that alignwith these themes. Further, the Fund may invest in ETFs that provide exposure to commodities potentially benefiting from a freermarket environment, such as energy commodities (e.g., oil and natural gas) and agricultural commodities (e.g., corn and soybeans). TheSub-Advisers employ an active, multi-faceted investment management process designed to identify companies they believe: ● Are well-positioned to benefit from broad deregulation trends; ● Can thrive in a more favorable regulatory environment; and ● Utilize business strategies that capitalize on regulatory shifts. TheSub-Advisers conduct an ongoing analysis of the regulatory landscape, focusing on pending and proposed deregulatory measures,historical regulatory patterns and their market impacts, sector-specific regulatory developments, and political and economic factorsshaping regulatory trends. This analysis forms the foundation of the Sub-Advisers’ investment strategy, aimed at identifyingsectors and companies with the potential for outperformance amid evolving regulations. The Sub-Advisers utilize a range of datasources for this analysis, commonly drawn from industry reports, direct company interactions, fundamental analysis, earnings transcripts,regulatory databases, and studies from governmental, economic, and industry-specific regulatory organizations. In addition, theSub-Advisers may use artificial intelligence (“AI”) and machine-learning tools as additional filters for their quantitativeresearch, analysis, and synthesis of publicly available data used in their analysis framework. TheSub-Advisers’ investment process incorporates company selection criteria, assessing potential investments based on theircapacity to benefit from targeted deregulatory measures, historical performance during past regulatory cycles, proactive and adaptivemanagement approaches, and strong competitive positioning within their respective industries. Emphasis is placed on companiesthat demonstrate agility in adapting to regulatory changes, innovative strategies that may enable them to capitalize on deregulationopportunities, and the ability to drive product or service innovation enabled by regulatory reform. AdditionalPortfolio Attributes: TheFund’s portfolio will generally hold approximately 25 to 50 positions. The Fund is unconstrained as to market capitalizationand may invest in…