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Address: 10 Bank Street, White Plains, New York 10606

Email: Matrix@MatrixAssetAdvisors.com

Phone: 212-486-2004

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a Prospectus or Summary Prospectus with this and other information about the Fund, please call 215.330.4476 or visit our website at https://matrixadvisorsvalueetf.com/. Read the prospectus or summary prospectus carefully before investing.

Investments involve risk. Principal loss is possible.

Large-Capitalization Companies Risk. Large-capitalization companies may trail the returns of the overall stock market. Large-capitalization stocks tend to go through cycles of doing better – or worse – than the stock market in general. These periods have, in the past, lasted for as long as several years.

Value Strategy Risk. The stock of value companies can continue to be undervalued for long periods of time and not realize its expected value. The Sub-Adviser may not be able to accurately determine the “Intrinsic Value” of a company, resulting in the purchase of an overvalued security or premature sale of an undervalued company. Additionally, the market may use different criteria to determine a company’s value, which could have unexpected effects on a company’s performance and cause losses for the Fund.

Sector Emphasis Risk. Investing a substantial portion of the Fund’s assets in related industries or sectors may have greater risks, because companies in these sectors may share common characteristics and may react similarly to market developments. In recent years, the Predecessor Mutual Fund has overweighted its investments in the Information Technology sector, and as a result, it was more susceptible to the particular risks that may affect companies in the Information Technology sector because companies that rely heavily on technology are particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition. The Predecessor Mutual Fund has also overweighted its investments in the Financials sector, and as a result, it was more susceptible to the particular risks that may affect companies in the Financials sector, including government regulations, economic conditions, credit rating downgrades, changes in interest rates and decreased liquidity in credit markets.

Cyber Security Risk. Investment companies, such as the Fund, and their service providers may be subject to operational and information security risks resulting from cyber-attacks. Cyber-attacks include, among other behaviors, stealing or corrupting data maintained online or digitally, denial of service attacks on websites, the unauthorized release of confidential information or various other forms of cyber security breaches. Cyber-attacks may interfere with the processing of shareholder transactions, impact the Fund’s ability to calculate its net asset value, cause the release of private shareholder information or confidential company information, impede redemptions, subject the Fund to regulatory fines or financial losses, and cause reputational damage. The Fund may also incur additional costs for cyber security risk management purposes. Similar types of cyber security risks are also present for issuers of securities in which the Fund invests.

Investment Risk. When you sell your Shares, they could be worth less than what you paid for them. The Fund could lose money due to short-term market movements and over longer periods during market downturns. Securities may decline in value due to factors affecting securities markets generally or particular asset classes or industries represented in the markets. The value of a security may decline due to general market conditions, economic trends or events that are not specifically related to the issuer of the security. Geopolitical and other risks, including war, terrorism, trade disputes, political or economic dysfunction within some nations, public health crises, and environmental disasters such as earthquakes, fire, and floods, may add to instability in world

The Fund is non-diversified and may invest a greater percentage of its assets in a particular issuer than a diversified fund. Non-diversification increases the risk that the value of the Fund could go down because of the poor performance of a single investment or limited number of investments.

*Earnings growth is the annual compound annual growth rate of earnings from investments. The dividend growth rate is the percentage growth rate of a company’s dividend achieved during a certain period of time. Return on equity (ROE) is a measure of a company’s financial performance. It is calculated by dividing net income by shareholders’ equity. Free cash flow (FCF) represents the cash a company can generate after accounting for capital expenditures needed to maintain or maximize its asset base. Book value is a company’s total assets minus its total liabilities

The Fund is distributed by PINE Distributors LLC. The Fund’s investment adviser is Empowered Funds, LLC, which is doing business as ETF Architect Matrix Asset Advisors, Inc serve as the Sub-advisers to the Fund. PINE Distributors LLC is not affiliated with ETF Architect or Matrix Asset Advisors, Inc. Learn more about PINE Distributors LLC at FINRA’s BrokerCheck.

David A. Katz, CFA

Mr. David A. Katz, President and Chief Investment Officer of the Sub-Adviser, has overall responsibility for the Sub-Adviser’s investment efforts and is primarily responsible for the day-to-day management of the Fund’s portfolio. Mr. Katz graduated summa cum laude from Union College with a Bachelor of Arts degree in Economics. He received a Master of Business Administration degree, with a concentration in Finance, from New York University Graduate School of Business in 1987, graduating with distinction. His numerous works on Value Investing have earned him various awards and distinctions at the undergraduate and graduate levels. Mr. Katz is a CFA® charterholder. After initially working at Management Asset Corporation (Westport, CT), Mr. Katz co-founded Value Matrix Management with the late John M. Gates in 1986. He served as the firm’s Senior Vice President and Chief Investment Officer and was Head of the Investment Policy Committee. In 1990, he merged the Value Matrix Management organization into Matrix Asset Advisors, Inc. Mr. Katz chairs the Investment Policy Committee at Matrix Asset Advisors and is a Portfolio Manager/Analyst. He appears frequently as a guest on CNBC and Bloomberg Radio. He has been President and Chief Investment Officer of the Sub-Adviser and a principal shareholder of the Sub-Adviser for over thirty-five years.

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The JLens ETFs are available through many brokerages including those below. Don’t see your brokerage listed? No problem. Simply search your current platform for the JLens funds you’re interested in.

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The inclusion of these links is not an endorsement from any of these firms and does not represent a recommendation or solicitation to purchase or sell any securities. Additionally, the inclusion of these links does not represent an endorsement by JLens Asset Management LLC of any of these firms.

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