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You should consider the fund’s investment objectives, risks, changes and expenses carefully before investing. A statutory and summary prospectus with this and other information is available on the mfamfunds.com website. Please read the prospectus carefully before investing. 

The net asset value (“NAV”) of the Fund’s shares is determined as of the close of regular trading on the NYSE (generally 4:00 p.m. Eastern time) each day the NYSE is open. Shares are purchased and sold in secondary market transactions at negotiated market prices rather than at NAV. Shares of the Fund may be bought and sold throughout the day on the exchange through a brokerage account. However, shares are not individually redeemable, and may only be redeemed directly from the Fund by Authorized participants in very large creation/redemption units. Shares may trade at, above or below NAV. Brokerage commissions will reduce returns. 

The Motley Fool Small-Cap Growth ETF invests primarily in particular market capitalizations, including small cap stocks, thus its performance will be especially sensitive to market conditions that particularly affect smaller capitalization companies. The Fund is non-diversified, which means its NAV, market price and total returns may fluctuate or fall more than a diversified fund. Gains or losses on a single stock may have a greater impact on the Fund. The stocks of quality growth companies can continue to be undervalued by the market for long periods of time. As a consequence of its investing style the Fund may underperform the market and its peers over short time frames. Investing involves risk. Principal loss is possible.

To the extent that the Motley Fool 100 ETF invests more heavily in particular sectors of the economy (e.g., technology), its performance will be especially sensitive to developments that significantly affect those sectors. Similarly, the Fund is non-diversified, which means that it may invest a high percentage of its assets in a limited number of securities and, as a result, gains or losses on a single stock may have a greater impact on the Fund. In addition to normal risks associated with investing in equity securities, investments in the Fund are subject to those risks specific to ETFs. Unlike other funds managed my MFAM, the Fund is not actively managed and we do not attempt to take defensive positions in any market conditions, including adverse markets. Likewise, we would not sell shares due to current or projected under performance of a security, industry, or sector, unless that security is removed from the Index or the selling of shares of that security is otherwise required upon a reconstruction of the Index. As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons, including the operating expenses and portfolio transaction costs not incurred b the Index. In addition, the Fund ay not be fully invested in the securities of the Index at all time, or may hold securities not included in the Index. Finally, Fund shares may trade at a material discount to NAV, and this risk is heightened in times of market volatility or periods of steep market declines. 

The Motley Fool ETF’s are distributed by Quasar Distributors, LLC. Quasar Distributors, LLC is not affiliated with Foreside Funds Distributors, LLC.