REX GIF ETF: Covered Call Income & Growth from 9 Top Stocks

An investor should carefully consider a Fund’s investment objective, risks, charges, and expenses before investing. A Fund’s prospectus and summary prospectus contain this and other information about the REX Shares. To obtain a Fund’s prospectus and summary prospectus call 844-802-4004 or visit rexshares.com. Read prospectuses carefully before investing.

Investing in the Fund involves a high degree of risk. As with any investment, there is a risk that you could lose all or a portion of your investment in the Fund. An investor could lose the full principal value of his/her investment within a single day.

Holdings are subject to change. For the Fund’s current holdings, please visit https://www.rexshares.com/gif/

Leverage Risk: The underlying ETFs target modestly enhanced exposure (1.05x–1.50x). Compounding effects may cause returns to diverge from underlying stock returns over time.

Limited Upside / Full Downside: The Fund’s indirect exposure to gains of the underlying securities, if any, will be limited by the covered call overlay. However, the Fund will bear any losses resulting from a decline in value.

Distribution Risk: Distributions are not guaranteed. Distributions may include ordinary dividends, capital gains, and return of investor capital, which may decrease a fund’s NAV and the overall investment over time. Weekly payouts depend on stock volatility and market premiums and may change week to week. A high distribution rate does not imply a positive total return. Past distributions are not indicative of future distributions.

Single-Stock Concentration Risk: Each underlying ETF concentrates its exposure in a single stock, which introduces significant company-specific risk.

Covered Call Options Risk. A covered call strategy involves writing (selling) covered call options in return for the receipt of premiums. The seller of the option gives up the opportunity to benefit from price increases in the underlying instrument above the exercise price of the options but continues to bear the risk of underlying instrument price declines. The premiums received from the options may not be sufficient to offset any losses sustained from underlying instrument price declines over time. As a result, the risks associated with writing covered call options may be similar to the risks associated with writing put options. Exchanges may suspend the trading of options during periods of abnormal market volatility. Suspension of trading may mean that an option seller is unable to sell options at a time that may be desirable or advantageous to do so.

Equity Securities Risk. Equity securities are subject to changes in value, and their values may be more volatile than those of other asset classes. Equity securities prices fluctuate for several reasons, including changes in investors’ perceptions of the financial condition of an issuer or the general condition of the relevant equity market, such as market volatility, or when political or economic events affecting an issuer occur. Common stock prices may be particularly sensitive to rising interest rates, as the cost of capital rises and borrowing costs increase.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation, and legal restrictions.

Synthetic Exposure: Investors do not own the underlying stocks, nor do they have voting rights or receive stock dividends.

Fund of Funds Risk: The Fund’s investment performance depends on the investment performance of the underlying funds. The Fund indirectly bears the fees and expenses of the underlying funds in addition to its own fees and expenses.

The Fund is not suitable for all investors. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking targeted daily leveraged investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. The Fund is not intended to be used by, and is not appropriate for, investors who do not intend to actively monitor and manage their portfolios. For periods longer than a single day, the Fund will lose money if the underlying funds performance is flat, and it is possible that the Fund will lose money even if underlying funds performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The Fund, Trust, Adviser, and Sub-Adviser are not affiliated with the Fund’s underlying securities.

Funds distributed by Foreside Fund Services, LLC.