IPDP Supplemental Tax Info

Supplemental Tax Information
09/28/2023	Tax Information - 19(a)-1 Notice	Download
2022	Tax Information - Form 8937	Download
12/31/2022	Tax Information - 19(a)-1 Notice	Download
09/30/2022	Tax Information - 19(a)-1 Notice	Download
06/30/2022	Tax Information - 19(a)-1 Notice	Download

Innovative Portfolios, LLC is investment advisor to Dividend Performers ETF.

Carefully consider the Fund’s investment objective, risk factors, charges and expenses before investing. This and additional information can be found in the Dividend Performers ETF prospectus, which can be obtained by calling 800-617-0004 or clicking here. Please read the prospectus carefully before investing.

Investing involves risk, including possible loss of principal.

Derivative Securities Risk: The Fund invests in options that derive their performance from the performance of the S&P 500 Index. Derivatives, such as the options in which the Fund invests, can be volatile and involve various types and degrees of risks, depending upon the characteristics of a particular derivative. Derivatives may entail investment exposures that are greater than their cost would suggest, meaning that a small investment in a derivative could have a substantial impact on the performance of the Fund. The Fund could experience a loss if its derivatives do not perform as anticipated, or are not correlated with the performance of their underlying asset or if the Fund is unable to purchase or liquidate a position because of an illiquid secondary market. The market for many derivatives is, or suddenly can become, illiquid. Changes in liquidity may result in significant, rapid, and unpredictable changes in the prices for derivatives.

Dividend-Paying Security Risk: Securities that pay high dividends as a group can fall out of favor with the market, causing these companies to underperform companies that do not pay high dividends. Also, companies owned by the Fund that have historically paid a dividend may reduce or discontinue their dividends, thus reducing the yield of the Fund.

Reit Risk: Investment in real estate companies, including REITs, exposes the Fund to the risks of owning real estate directly. Real estate is highly sensitive to general and local economic conditions and developments.

(1) As disclosed in the January 31, 2023, prospectus.

© 2022 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

The Morningstar Rating^TM for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Dividend Performers fund received four stars among 84 funds in the U.S. Fund Derivative Income category for the overall and three-year periods ending June 30, 2023. The inception for the Dividend Performers fund is December 24, 2018 and, as such there is no performance for the 5- and 10-year periods. Past performance is no guarantee of future results.

Dividend Performers ETF is distributed by Foreside Fund Services, LLC.

IPDP Supplemental Tax Info

IPDP Dividend Performers ETF