MFUL

Mindful Conservative ETF

Fund Objective

The Mindful Conservative ETF (the “Fund”) seeks current income.

Principal Investment Strategy

The Fund seeks to achieve the Fund’s investment objective by using a tactical go-anywhere approach to invest in a wide variety of asset classes, which the Fund defines based on the market capitalization and/or industry classification. The Fund primarily invests in exchange-traded funds (“ETFs”) that invest equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The Fund may appeal to conservative investors who are seeking income and who can tolerate only a low risk of the potential for pricing volatility.

Fund Pricing and Data

As of: 12/06/2021

Market Price

$24.57

Number of Holdings

16

NAV Price

$24.53

Premium/Discount

0.15%

Net Assets

$1,226,745

Expense Ratio

1.07%

Shares Outstanding

50,000

30-Day Median Bid-Ask

0.28%

Fund Details

Fund Name
Mindful Conservative ETF

Primary Exchange
Cboe

Ticker
MFUL

Fund Inception Date
11/03/2021

CUSIP
19423L 615

Options Available
No

ISIN
US19423L6157

Portfolio Advisor
Mohr Capital Management

Fund Performance

As of: 12/06/2021
As of: 11/30/20211 month3 months6 months1 yearYTDSince Inception
NAVXX.XXXX.XXXX.XXXX.XXXX.XX-2.00%
Market PriceXX.XXXX.XXXX.XXXX.XXXX.XX-1.88%

 

Performance Disclosure

The performance data quoted represents past performance. Past performance does not guarantee future results. 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 and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. The Fund does not have a track record of reporting to investors or widely available research coverage which may result in price volatility.

Market performance is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

As of: MM/DD/YYYY1 month3 months6 months1 yearYTDSince Inception
NAVXX.XXXX.XXXX.XXXX.XXXX.XXXX.XX
Market PriceXX.XXXX.XXXX.XXXX.XXXX.XXXX.XX

Performance Disclosure

The performance data quoted represents past performance. Past performance does not guarantee future results. 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 and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained above. Returns less than one year are not annualized.

Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns. The Fund does not have a track record of reporting to investors or widely available research coverage which may result in price volatility.

Market performance is the price at which shares in the ETF can be brought or sold on the exchanges during trading hours, while the net asset value (NAV) represents the value of each share’s portion of the fund’s underlying assets and cash at the end of the trading day.

Fund Holdings

As of: 12/06/2021
TickerSecurity DescriptionCUSIP% of FundSharesMarket Value
CASH AND CASH EQUIVALENTS12.89%159,146$159,146
RDVYFIRST TRUST RISING DIVIDEND33738R5067.95%1,964$98,200
BSVVANGUARD SHORT-TERM BOND ETF9219378274.72%718$58,237
BIVVANGUARD INTERMEDIATE-TERM B9219378194.73%657$58,427
BLVVANGUARD LONG-TERM BOND ETF9219377934.68%548$57,776
PFFISHARES US PREFERRED STOCK E4642886874.67%1,497$57,664
SCHRSCHWAB INTERMEDIATE-TERM US8085248548.00%1,753$98,746
XLG USINVESCO EXCHANGE-TRADED F46137V2338.22%284$101,456
ICVTISHARES CONVERTIBLE BOND ETF46435G1024.10%572$50,639
VCSHVANGUARD SHORT-TERM CORPORATE BOND ETF92206C4094.74%720$58,572
VCITVANGUARD INTERMEDIATE-TERM CORPORATE BOND ETF92206C8704.75%628$58,693
SCHVSCHWAB US LARGE-CAP VALUE8085244098.02%1,394$98,946
IUSBISHARES CORE TOTAL BOND ETF46434V6138.10%1,882$99,953
AGGISHARES CORE U.S. AGGREGATE4642872264.77%514$58,940
VCLTVANGUARD LONG-TERM CORPOR92206C8134.84%554$59,738
BONDPIMCO TOTAL RETURN ACTIVE EX72201R7754.81%540$59,368

Premium / Discount

As of: 12/06/2021
Premium/DiscountPremium Discount Days (Quarterly)Premium Discount Days (Yearly)+2% Premium Discount Days
0.15%23 days23 daysNone (0 days in the last year)

Frequency Distribution of Premiums and Discounts Chart to be made available after December 31, 2021.

Supplemental Discussion

Mohr Capital Management (“Advisor”) will provide a discussion in the event the ETF’s premium or discount has been greater than 2% for seven consecutive trading days.

Disclosures

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are contained in the prospectus. Please read the prospectus carefully before investing. 

The principal risks of investing in the Mindful Conservative ETF include:

  • Cash and Cash Alternatives Risk: At any time, the Fund may have significant investments in cash or cash equivalents. When a substantial portion of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not keep pace with inflation, thus reducing purchasing power over time.

  • ETF Structure Risk: The Fund is structured as an ETF and as a result is subject to the special risks, including:
    • The market prices of shares will fluctuate in response to changes in NAV and supply and demand for shares and will include a “bid-ask spread” charged by the exchange specialists, market makers or other participants that trade the particular security. There may be times when the market price and the NAV vary significantly. This means that Shares may trade at a discount to NAV.
    • In times of market stress, market makers may step away from their role market making in shares of ETFs and in executing trades, which can lead to differences between the market value of Fund shares and the Fund’s NAV.
    • In stressed market conditions, the market for the Fund’s shares may become less liquid in response to the deteriorating liquidity of the Fund’s portfolio. This adverse effect on the liquidity of the Fund’s shares may, in turn, lead to differences between the market value of the Fund’s shares and the Fund’s NAV.

  • Emerging Markets Risk: Investing in emerging markets involves not only the risks described below with respect to investing in foreign securities, but also other risks, including exposure to economic structures that are generally less diverse and mature, limited availability and reliability of information material to an investment decision, and exposure to political systems that can be expected to have less stability than those of developed countries. The market for the securities of issuers in emerging market typically is small, and a low or nonexistent trading volume in those securities may result in a lack of liquidity and price volatility.

  • Exchange Traded Funds Risk: The cost of investing in the Fund will be higher than the cost of investing directly in the ETFs in which it invests and may be higher than other mutual funds that invest directly in stocks and bonds. Each ETF is subject to specific risks, depending on the nature of the ETF.

  • Fixed Income Securities Risk: When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities owned by the Fund. In general, the market price of fixed income securities with longer maturities will increase or decrease more in response to changes in interest rates than shorter-term securities. Other risk factors include credit risk (the debtor may default), extension risk (an issuer may exercise its right to repay principal on a fixed rate obligation held by the Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). These risks could affect the value of a particular investment by the Fund, possibly causing the Fund’s share price and total return to be reduced and fluctuate more than other types of investments.

  • Foreign Securities Risk: Changes in foreign economies and political climates are more likely to affect the Fund than a mutual fund that invests exclusively in U.S. companies. Foreign companies are generally not subject to the same regulatory requirements of U.S. companies thereby resulting in less publicly available information about these companies. In addition, foreign accounting, auditing and financial reporting standards generally differ from those applicable to U.S. companies.

  • High Yield Bond Risk: Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund’s ability to sell its bonds. The lack of a liquid market for these bonds could decrease the Fund’s share price.

  • Management Risk: The Sub-Adviser’s assessment of the attractiveness and potential appreciation of particular investments or markets in which the Fund invests may prove to be incorrect and there is no guarantee that the Sub-Adviser’s investment strategy will produce the desired results. 

  • Market and Geopolitical Risk: The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities in the Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters, pandemics, epidemics, terrorism, regulatory events and governmental or quasi-governmental actions. The occurrence of global events similar to those in recent years, such as terrorist attacks around the world, natural disasters, social and political discord or debt crises and downgrades, among others, may result in market volatility and may have long term effects on both the U.S. and global financial markets. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have and the duration of those effects.

  • Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs.

  • Small and Medium Capitalization Stock Risk: The earnings and prospects of small and medium-sized companies are more volatile than larger companies and may experience higher failure rates than larger companies. Small and medium sized companies normally have a lower trading volume than larger companies, which may tend to make their market price fall more disproportionately than larger companies in response to selling pressures and may have limited markets, product lines, or financial resources and lack management experience.