Defiance Trillion Dollar Club Index 

Under normal circumstances, the fund will invest at least 80% of its net assets, plus borrowings for investment purposes, in equity securities of Trillion Companies and/or financial instruments (such as swaps) that provide indirect exposure to Trillion Companies. The index tracks the performance of U.S. exchange-listed companies with market capitalizations of $1 trillion or greater (“Trillion Companies”). The fund is non-diversified.