Disclosures:

Normally, the Fund will target a 60% allocation towards U.S. equity securities and a 40% allocation towards fixed income securities, including, but not limited to, investment-grade corporate debt, U.S. agency securities, and U.S. mortgage-backed securities and related derivatives. The Fund may also invest in securities of foreign issuers. Although the Fund focuses on investments in larger capitalization companies, the Fund’s investments are not limited to a capitalization size. The Fund may also hold cash or money market instruments, including commercial paper and short-term securities. The percentage of the Fund’s assets invested in such holdings varies and depends on various factors, including market conditions and purchases and redemptions of Fund shares.

The Adviser may determine that it is appropriate to invest a substantial portion of the Fund’s assets in such instruments in response to certain circumstances, such as periods of market turmoil. The Fund may invest without limitation in such instruments for temporary defensive purposes. The Fund may engage in active and frequent trading of portfolio securities, which may also result in higher short-term capital gains that are taxable to shareholders. For a more complete description of which securities the Fund can invest in and securities ratings, see the SAI.

As with all mutual funds, investing in the Fund involves certain risks. There is no guarantee that the Fund will meet its investment objective, and there is never any assurance that the Fund will perform as it has in the past. You can lose money by investing in the Fund. The Fund may use various investment techniques, some of which involve greater amounts of risk than others. To reduce risk, the Fund is subject to certain limitations and restrictions on its investments, which are described in more detail in the SAI.

X-Square Balanced Fund disclosures:

An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus containing this and other information, please call 1-833-X-SQUARE or download one from www.xsquarecapital.com. Read the prospectus carefully before you invest.

Investing involves risks, including loss of principal.

An investment in the Fund is subject to, among others, the following risks: Asset-Backed Securities Risk:

Asset-backed securities are subject to credit, interest rate, prepayment, extension, valuation and liquidity perceived as unable or unwilling, to make timely interest or principal payments or otherwise honor its obligations. Derivatives Risk: Derivatives may be more sensitive to changes in economic or market conditions than other types of investments; this could result in losses that significantly exceed the fund's original investment. High-Yield Risk: The Fund's high-yield fixed income securities, sometimes known as "junk bonds" will be subject to greater credit risk, price volatility, and risk of loss than investment grade securities, which can adversely affect the Fund's return and net asset value. Liquidity Risk: Certain Fund holdings may be deemed to be less liquid or illiquid because they cannot be readily sold without significantly impacting the value of holdings. Small Cap Stock Risk: Stocks of smaller companies may be subject to more abrupt or erratic movements than stocks or larger, more established companies.

ALPS Distributors, Inc. is the distributor of the X-Square Balanced Fund. There is no affiliation between X-

Square Capital, LLC and ALPS Distributors, Inc. ALPS Distributors, Inc. 1290 Broadway, Suite 1000,

Denver, CO 80203.

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