SEC Info - Collaborative Investment Series Trust, et al. - ‘485BPOS’ on 10/4/21

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Collaborative Investment Series Trust, et al. – ‘485BPOS’ on 10/4/21 – ‘XML’

On: Monday, 10/4/21, at 5:07pm ET · Effective: 10/5/21 · Accession #: 1387131-21-9771 · File #s: 811-23306, 333-221072

Previous ‘485BPOS’: ‘485BPOS’ on 10/1/21 · Next: ‘485BPOS’ on 11/4/21 · Latest: ‘485BPOS’ on 4/29/24 · 50 References:

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/04/21  Collaborative Inv Series Trust    485BPOS    10/05/21   17:2.3M                                   Quality EDGAR So… LLC/FA
          → Mohr Growth ETF ⇒ MOHR

Post-Effective Amendment of a Form N-1 or N-1A Registration — Rule 485(b)

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 485BPOS     Post-Effective Amendment of a Form N-1 or N-1A      HTML    566K 
                Registration                                                     
 2: EX-99.(D)(IX)  Sub-Advisory Agreement                           HTML     47K 
 3: EX-99.(D)(XIV)  Management Agreement                            HTML     43K 
 4: EX-99.(H)(XXIII)  Services Agreement                            HTML     26K 
 5: EX-99.(I)(I)  Legal Opinion and Consent                         HTML     15K 
 6: EX-99.(P)(VII)  Code of Ethics                                  HTML     19K 
13: R1          Risk/Return Summary                                 HTML    156K 
14: R4          Risk/Return Detail Data                             HTML    219K 
15: XML         IDEA XML File -- Filing Summary                      XML     16K 
12: XML         XBRL Instance -- mohr-48bpos_100521_htm              XML    163K 
 8: EX-101.CAL  XBRL Calculations -- cfs-20211005_cal                XML     26K 
 9: EX-101.DEF  XBRL Definitions -- cfs-20211005_def                 XML    121K 
10: EX-101.LAB  XBRL Labels -- cfs-20211005_lab                      XML    342K 
11: EX-101.PRE  XBRL Presentations -- cfs-20211005_pre               XML    379K 
 7: EX-101.SCH  XBRL Schema -- cfs-20211005                          XSD     25K 
16: JSON        XBRL Instance as JSON Data -- MetaLinks              101±   196K 
17: ZIP         XBRL Zipped Folder -- 0001387131-21-009771-xbrl      Zip    177K

‘XML’ — XBRL Instance — mohr-48bpos_100521_htm

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<dei:EntityCentralIndexKey contextRef="AsOf2021-10-05"> 0001719812 </dei:EntityCentralIndexKey>

<dei:AmendmentFlag contextRef="AsOf2021-10-05"> false </dei:AmendmentFlag>

<dei:DocumentCreationDate contextRef="AsOf2021-10-05"> 2021-10-04 </dei:DocumentCreationDate>

<dei:EntityInvCompanyType contextRef="AsOf2021-10-05"> N-1A </dei:EntityInvCompanyType>

<dei:DocumentType contextRef="AsOf2021-10-05"> 485BPOS </dei:DocumentType>

<dei:DocumentPeriodEndDate contextRef="AsOf2021-10-05"> 2021-10-04 </dei:DocumentPeriodEndDate>

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<dei:EntityRegistrantName contextRef="AsOf2021-10-05"> Collaborative Investment Series Trust </dei:EntityRegistrantName>

<dei:DocumentEffectiveDate contextRef="AsOf2021-10-05"> 2021-10-05 </dei:DocumentEffectiveDate>

<dei:TradingSymbol contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member"> MOHR </dei:TradingSymbol>

<dei:TradingSymbol contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member"> RULE </dei:TradingSymbol>

<dei:TradingSymbol contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member"> MFUL </dei:TradingSymbol>

<rr:ProspectusDate contextRef="AsOf2021-10-05"> 2021-10-05 </rr:ProspectusDate>

<rr:RiskReturnHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> FUND SUMMARY: MOHR GROWTH ETF </rr:RiskReturnHeading>

<rr:ObjectiveHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> Investment Objectives: </rr:ObjectiveHeading>

<rr:ObjectivePrimaryTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

The Mohr Growth ETF (the “Fund”) seeks to provide capital appreciation.

</rr:ObjectivePrimaryTextBlock>

<rr:ExpenseHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> Fees and Expenses of the Fund: </rr:ExpenseHeading>

<rr:ExpenseNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

This table describes the fees and expenses, excluding any brokerage fees, that you may pay if you buy, sell, and hold shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

</rr:ExpenseNarrativeTextBlock>

<rr:OperatingExpensesCaption contextRef="AsOf2021-10-05_custom_S000072880Member"> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </rr:OperatingExpensesCaption>

<rr:ManagementFeesOverAssets contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member" decimals="INF" unitRef="Ratio"> 0.0070 </rr:ManagementFeesOverAssets>

<rr:OtherExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member" decimals="INF" id="Fact000028" unitRef="Ratio"> 0.0012 </rr:OtherExpensesOverAssets>

<rr:AcquiredFundFeesAndExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member" decimals="INF" id="Fact000030" unitRef="Ratio"> 0.0014 </rr:AcquiredFundFeesAndExpensesOverAssets>

<rr:ExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member" decimals="INF" unitRef="Ratio"> 0.0096 </rr:ExpensesOverAssets>

<rr:OtherExpensesNewFundBasedOnEstimates contextRef="AsOf2021-10-05_custom_S000072880Member"> Other Expenses are estimated for the Fund’s initial fiscal year. </rr:OtherExpensesNewFundBasedOnEstimates>

<rr:AcquiredFundFeesAndExpensesBasedOnEstimates contextRef="AsOf2021-10-05_custom_S000072880Member"> Acquired Fund Fees and Expenses, which are estimated for the Fund’s initial fiscal year, are the indirect costs of investing in other investment companies. </rr:AcquiredFundFeesAndExpensesBasedOnEstimates>

<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="AsOf2021-10-05_custom_S000072880Member"> The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s highlights because the financial statements include only direct operating expenses incurred by the Fund </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>

<rr:ExpenseExampleHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> Example: </rr:ExpenseExampleHeading>

<rr:ExpenseExampleNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

</rr:ExpenseExampleNarrativeTextBlock>

<rr:ExpenseExampleYear01 contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member" decimals="0" unitRef="USD"> 98 </rr:ExpenseExampleYear01>

<rr:ExpenseExampleYear03 contextRef="AsOf2021-10-05_custom_S000072880Member_custom_C000229548Member" decimals="0" unitRef="USD"> 306 </rr:ExpenseExampleYear03>

<rr:PortfolioTurnoverHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> PORTFOLIO TURNOVER: </rr:PortfolioTurnoverHeading>

<rr:PortfolioTurnoverTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, may adversely affect the Fund’s performance. The Fund does not have any portfolio turnover because it has not yet launched.

</rr:PortfolioTurnoverTextBlock>

<rr:StrategyHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> PRINCIPAL INVESTMENT STRATEGIES: </rr:StrategyHeading>

<rr:StrategyNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

The Fund is an actively managed exchange traded fund (“ETF”) that is managed by Retireful, LLC (the “Adviser”) and designed for investors looking for long-term growth and who can tolerate large principal value fluctuations. The Adviser 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 invests in ETFs that invest in equity securities of any market capitalization that are representative of an asset class or an investment style and individual equity securities without regard to market capitalization. The Fund may invest in U.S., foreign, and emerging market issuers. The Fund defines emerging market issuers as those found in countries represented in the MSCI Emerging Market index. The Adviser delegates trading the Fund’s securities to Tuttle Capital Management, LLC (the “Sub-Adviser”). The Fund may invest in asset classes and investment styles such as: <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Blend - ETFs that include a mix of both value and growth stocks.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Global- ETFs that invest in companies located anywhere in the world including the investor’s own country. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Growth - ETFs with capital appreciation as their primary goal, with little or no dividend payouts. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">International - ETFs that invest in companies located anywhere in the world outside of its investors' country of residence.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Technology - ETFs that invest in assets of companies involved in the sector of technology.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Value - ETFs that follow a value investing strategy and seek to invest in stocks that are deemed to be undervalued in price based on fundamental characteristics.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Cash.</td></tr></table> The Adviser utilizes a proprietary technology that primarily analyzes the price of securities and ETFs and attempts to identify upward and downward trends. The price of a security is analyzed using multiple mathematical formulas. Each formula is combined to create a composite score for each potential investment and recommends when to buy and sell and how long to hold each security. The Adviser uses composite scores to create a portfolio, generally composed of approximately five to twenty securities. Between securities with similar ranks, those with lower expenses and higher liquidity are preferred by the Adviser. When an unexpected market event occurs, the Adviser’s proprietary technology may signal a move of up to the entire portfolio to cash or ETFs that invest in money market funds. The Fund may invest up to 100% of its assets in ETFs of a particular asset class or investment style. In managing the Fund’s portfolio, the Adviser will engage in frequent trading, resulting in a high portfolio turnover rate.

</rr:StrategyNarrativeTextBlock>

<rr:RiskHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> PRINCIPAL RISKS: </rr:RiskHeading>

<rr:RiskNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

As with all ETFs, there is the risk that you could lose money through your investment in the Fund. Many factors affect the Fund’s net asset value (“NAV”) and performance. <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Cash and Cash Equivalents 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ETF Structure Risk: The Fund is structured as an ETF and as a result is subject to the special risks, including:</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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 other ETF is subject to specific risks, depending on the nature of the ETF.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Large Capitalization Stock Risk: Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities market. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Management Risk: The portfolio manager’s judgments about the attractiveness, value and potential appreciation of particular stocks or other securities in which the Fund invests may prove to be incorrect and there is no guarantee that the portfolio manager’s judgment will produce the desired results.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Money Market Risk: The Fund’s investment in a money market fund is not a deposit of any bank and is not insured or guaranteed by the FDIC or any other government agency. Certain money market funds seek to preserve the value of their shares at $1.00 per share, although there can be no assurance that they will do so, and it is possible to lose money by investing in such a money market fund. A major or unexpected change in interest rates or a decline in the credit quality of an issuer or entity providing credit support, an inactive trading market for money market instruments, or adverse market, economic, industry, political, regulatory, geopolitical, and other conditions could cause the share price of such a money market fund to fall below $1.00. Other money market funds price and transact at a “floating” NAV that will fluctuate along with changes in the market-based value of fund assets. Shares sold utilizing a floating NAV may be worth more or less than their original purchase price. Recent changes in the regulation of money market funds may affect the operations and structures of money market funds.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td><td style="width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Sector Risk: The Fund may focus its investments in securities of a particular sector. Economic, legislative, or regulatory developments may occur that significantly affect the sector. This may cause the Fund’s net asset value to fluctuate more than that of a fund that does not focus in a particular sector. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table>

</rr:RiskNarrativeTextBlock>

<rr:RiskLoseMoney contextRef="AsOf2021-10-05_custom_S000072880Member"> As with all ETFs, there is the risk that you could lose money through your investment in the Fund. </rr:RiskLoseMoney>

<rr:BarChartAndPerformanceTableHeading contextRef="AsOf2021-10-05_custom_S000072880Member"> Performance: </rr:BarChartAndPerformanceTableHeading>

<rr:PerformanceNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072880Member">

<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_900_err--PerformanceOneYearOrLess_c20211005__20211005__dei--LegalEntityAxis__custom--S000072880Member_z05SigYFNbae">Because the Fund has not yet launched, the performance section is omitted. In the future, performance information will be presented in this section of this Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.

</rr:PerformanceNarrativeTextBlock>

<rr:PerformanceOneYearOrLess contextRef="AsOf2021-10-05_custom_S000072880Member"> Because the Fund has not yet launched, the performance section is omitted. </rr:PerformanceOneYearOrLess>

<rr:RiskReturnHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> FUND SUMMARY: ADAPTIVE CORE ETF </rr:RiskReturnHeading>

<rr:ObjectiveHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> Investment Objectives: </rr:ObjectiveHeading>

<rr:ObjectivePrimaryTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

Adaptive Core ETF (the “Fund”) seeks current income.

</rr:ObjectivePrimaryTextBlock>

<rr:ExpenseHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> Fees and Expenses of the Fund: </rr:ExpenseHeading>

<rr:ExpenseNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

This table describes the fees and expenses, excluding any brokerage fees, that you may pay if you buy, sell, and hold shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

</rr:ExpenseNarrativeTextBlock>

<rr:OperatingExpensesCaption contextRef="AsOf2021-10-05_custom_S000072878Member"> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </rr:OperatingExpensesCaption>

<rr:ManagementFeesOverAssets contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member" decimals="INF" unitRef="Ratio"> 0.0070 </rr:ManagementFeesOverAssets>

<rr:OtherExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member" decimals="INF" id="Fact000063" unitRef="Ratio"> 0.0012 </rr:OtherExpensesOverAssets>

<rr:AcquiredFundFeesAndExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member" decimals="INF" id="Fact000065" unitRef="Ratio"> 0.0009 </rr:AcquiredFundFeesAndExpensesOverAssets>

<rr:ExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member" decimals="INF" unitRef="Ratio"> 0.0091 </rr:ExpensesOverAssets>

<rr:OtherExpensesNewFundBasedOnEstimates contextRef="AsOf2021-10-05_custom_S000072878Member"> Other Expenses are estimated for the Fund’s initial fiscal year. </rr:OtherExpensesNewFundBasedOnEstimates>

<rr:AcquiredFundFeesAndExpensesBasedOnEstimates contextRef="AsOf2021-10-05_custom_S000072878Member"> Acquired Fund Fees and Expenses, which are estimated for the Fund’s current fiscal year, are the indirect costs of investing in other investment companies. </rr:AcquiredFundFeesAndExpensesBasedOnEstimates>

<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="AsOf2021-10-05_custom_S000072878Member"> The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>

<rr:ExpenseExampleHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> Example: </rr:ExpenseExampleHeading>

<rr:ExpenseExampleNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

</rr:ExpenseExampleNarrativeTextBlock>

<rr:ExpenseExampleYear01 contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member" decimals="0" unitRef="USD"> 93 </rr:ExpenseExampleYear01>

<rr:ExpenseExampleYear03 contextRef="AsOf2021-10-05_custom_S000072878Member_custom_C000229546Member" decimals="0" unitRef="USD"> 290 </rr:ExpenseExampleYear03>

<rr:PortfolioTurnoverHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> PORTFOLIO TURNOVER: </rr:PortfolioTurnoverHeading>

<rr:PortfolioTurnoverTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, may adversely affect the Fund’s performance. The Fund does not have any portfolio turnover because it has not yet launched.

</rr:PortfolioTurnoverTextBlock>

<rr:StrategyHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> PRINCIPAL INVESTMENT STRATEGIES: </rr:StrategyHeading>

<rr:StrategyNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

The Fund is an actively managed exchange traded fund (“ETF”) that is managed by Retireful, LLC (the “Adviser”). The Adviser believes the Fund is ideal for investors seeking long-term capital appreciation but who prefer to minimize principal fluctuation. The Adviser 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 invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The Fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality). The Fund defines junk bonds as those rated below Baa3 by Moody’s Investors Service or below BBB- by Standard and Poor’s Rating Group, or, if unrated, determined by the Adviser to be of similar credit quality. Foreign securities include issuers from emerging market countries. The Fund defines emerging market issuers as those found in countries represented in the MSCI Emerging Market index. The Fund may invest in asset classes and investment styles such as: <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Blend - ETFs that include a mix of both value and growth stocks.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Bonds - a fixed income instrument that represents a loan made by an investor to a borrower.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Convertibles - bonds or preferred shares, that can be converted into common stock.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Core - ETFs seeking stable growth in safer sectors of the economy. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Growth - ETFs with capital appreciation as their primary goal, with little or no dividend payouts.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">High Yield Bonds (Junk Bonds). </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Income - ETFs that emphasize current income, either on a monthly or quarterly basis, as opposed to capital gains or appreciation. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Multi-Sector Bond - ETFs that seek income by diversifying their assets among several fixed-income sectors, usually U.S. government obligations, U.S. corporate bonds, foreign bonds, and high-yield U.S. debt securities. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Cash.</td></tr></table> The Adviser utilizes a proprietary technology that primarily analyzes the price of securities and ETFs and attempts to identify upward and downward trends. The price of a security is analyzed using multiple mathematical formulas. Each formula is combined to create a composite score for each potential investment and recommends when to buy and sell and how long to hold each security. The Adviser uses composite scores to create a portfolio, generally composed of approximately five to twenty securities. Between securities with similar ranks, those with lower expenses and higher liquidity are preferred by the Adviser. When an unexpected event occurs, the Adviser’s proprietary technology may signal a move of the entire portfolio to cash or ETFs that invest in money market funds. The Fund may invest in up to 100% of its assets in ETFs of a particular asset class or investment style. In managing the Fund’s portfolio, the Adviser will engage in frequent trading, resulting in a high portfolio turnover rate. The Adviser delegates trading the Fund’s securities to Tuttle Capital Management, LLC. Adaptive Core in the Fund’s name refers to the ability of the Adviser’s proprietary technology to adapt to market conditions. The Fund’s proprietary technology allows the Adviser to shift the Fund’s portfolio from a growth to conservative position based on current market conditions.

</rr:StrategyNarrativeTextBlock>

<rr:RiskHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> PRINCIPAL RISKS: </rr:RiskHeading>

<rr:RiskNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

As with all ETFs, there is the risk that you could lose money through your investment in the Fund. Many factors affect the Fund’s NAV and performance. <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Cash and Cash Equivalents 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="-sec-ix-redline: true; text-align: justify">Convertible Securities Risk: Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities and are subject to risks associated with both fixed income and equity securities.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ETF Structure Risk: The Fund is structured as an ETF and as a result is subject to the special risks, including:</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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 funds that invest directly in stocks and bonds. Each other ETF is subject to specific risks, depending on the nature of the ETF.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Management Risk: The 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 Adviser’s investment strategy will produce the desired results. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Money Market Risk: The Fund’s investment in a money market fund is not a deposit of any bank and is not insured or guaranteed by the FDIC or any other government agency. Certain money market funds seek to preserve the value of their shares at $1.00 per share, although there can be no assurance that they will do so, and it is possible to lose money by investing in such a money market fund. A major or unexpected change in interest rates or a decline in the credit quality of an issuer or entity providing credit support, an inactive trading market for money market instruments, or adverse market, economic, industry, political, regulatory, geopolitical, and other conditions could cause the share price of such a money market fund to fall below $1.00. Other money market funds price and transact at a “floating” NAV that will fluctuate along with changes in the market-based value of fund assets. Shares sold utilizing a floating NAV may be worth more or less than their original purchase price. Recent changes in the regulation of money market funds may affect the operations and structures of money market funds.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table>

</rr:RiskNarrativeTextBlock>

<rr:RiskLoseMoney contextRef="AsOf2021-10-05_custom_S000072878Member"> As with all ETFs, there is the risk that you could lose money through your investment in the Fund. </rr:RiskLoseMoney>

<rr:BarChartAndPerformanceTableHeading contextRef="AsOf2021-10-05_custom_S000072878Member"> Performance: </rr:BarChartAndPerformanceTableHeading>

<rr:PerformanceNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072878Member">

<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_90F_err--PerformanceOneYearOrLess_c20211005__20211005__dei--LegalEntityAxis__custom--S000072878Member_zMzyhhFFqOnf">Because the Fund has not yet launched, the performance section is omitted. In the future, performance information will be presented in this section of this Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.

</rr:PerformanceNarrativeTextBlock>

<rr:PerformanceOneYearOrLess contextRef="AsOf2021-10-05_custom_S000072878Member"> Because the Fund has not yet launched, the performance section is omitted. </rr:PerformanceOneYearOrLess>

<rr:RiskReturnHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> FUND SUMMARY: MINDFUL CONSERVATIVE ETF </rr:RiskReturnHeading>

<rr:ObjectiveHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> Investment Objectives: </rr:ObjectiveHeading>

<rr:ObjectivePrimaryTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

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

</rr:ObjectivePrimaryTextBlock>

<rr:ExpenseHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> Fees and Expenses of the Fund: </rr:ExpenseHeading>

<rr:ExpenseNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

This table describes the fees and expenses, excluding any brokerage fees, that you may pay if you buy, sell, and hold shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.

</rr:ExpenseNarrativeTextBlock>

<rr:OperatingExpensesCaption contextRef="AsOf2021-10-05_custom_S000072879Member"> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </rr:OperatingExpensesCaption>

<rr:ManagementFeesOverAssets contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member" decimals="INF" unitRef="Ratio"> 0.0070 </rr:ManagementFeesOverAssets>

<rr:OtherExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member" decimals="INF" id="Fact000099" unitRef="Ratio"> 0.0012 </rr:OtherExpensesOverAssets>

<rr:AcquiredFundFeesAndExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member" decimals="INF" id="Fact000101" unitRef="Ratio"> 0.0025 </rr:AcquiredFundFeesAndExpensesOverAssets>

<rr:ExpensesOverAssets contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member" decimals="INF" unitRef="Ratio"> 0.0107 </rr:ExpensesOverAssets>

<rr:OtherExpensesNewFundBasedOnEstimates contextRef="AsOf2021-10-05_custom_S000072879Member"> Other Expenses are estimated for the Fund’s initial fiscal year. </rr:OtherExpensesNewFundBasedOnEstimates>

<rr:AcquiredFundFeesAndExpensesBasedOnEstimates contextRef="AsOf2021-10-05_custom_S000072879Member"> Acquired Fund Fees and Expenses, which are estimated for the Fund’s current fiscal year, are the indirect costs of investing in other investment companies. </rr:AcquiredFundFeesAndExpensesBasedOnEstimates>

<rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees contextRef="AsOf2021-10-05_custom_S000072879Member"> The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund. </rr:ExpensesNotCorrelatedToRatioDueToAcquiredFundFees>

<rr:ExpenseExampleHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> Example: </rr:ExpenseExampleHeading>

<rr:ExpenseExampleNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

</rr:ExpenseExampleNarrativeTextBlock>

<rr:ExpenseExampleYear01 contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member" decimals="0" unitRef="USD"> 109 </rr:ExpenseExampleYear01>

<rr:ExpenseExampleYear03 contextRef="AsOf2021-10-05_custom_S000072879Member_custom_C000229547Member" decimals="0" unitRef="USD"> 340 </rr:ExpenseExampleYear03>

<rr:PortfolioTurnoverHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> PORTFOLIO TURNOVER: </rr:PortfolioTurnoverHeading>

<rr:PortfolioTurnoverTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, may adversely affect the Fund’s performance. The Fund does not have any portfolio turnover because it has not yet launched.

</rr:PortfolioTurnoverTextBlock>

<rr:StrategyHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> PRINCIPAL INVESTMENT STRATEGIES: </rr:StrategyHeading>

<rr:StrategyNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

The Fund is an actively managed exchange traded fund (“ETF”) that is managed by Retireful, LLC (the “Adviser”). The Adviser believes the Fund is ideal for conservative investors who cannot tolerate too much fluctuation in portfolio value and who are seeking current income. The Adviser 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 invests in individual equity securities without regard to market capitalization and ETFs that invest in equity securities of any market capitalization including convertible equity securities and fixed income ETFs. The Fund’s portfolio may hold securities from issuers of any market capitalization, credit quality, maturity, or country. Fixed income securities may include securities with credit quality below investment grade (commonly referred to as “junk bond” credit quality). The Fund defines junk bonds as those rated below Baa3 by Moody’s Investors Service or below BBB- by Standard and Poor’s Rating Group, or, if unrated, determined by the Adviser to be of similar credit quality. Foreign securities include issuers from emerging market countries. The Fund defines emerging market issuers as those found in countries represented in the MSCI Emerging Market index. The Adviser delegates trading the Fund’s securities to Tuttle Capital Management, LLC. The Fund may invest in asset classes and investment styles such as: <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Blend - ETFs that include a mix of both value and growth stocks.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Bonds - Corporate and Treasury Intermediate and long term bonds.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Bonds/Convertibles - bonds or preferred shares, that can be converted into common stock.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Growth - ETFs with capital appreciation as their primary goal, with little or no dividend payouts.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Income - ETFs that emphasize current income, either on a monthly or quarterly basis, as opposed to capital gains or appreciation. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Cash.</td></tr></table> The Adviser utilizes a proprietary technology that primarily analyzes the price of securities and ETFs and attempts to identify upward and downward trends. The price of a security is analyzed using multiple mathematical formulas. Each formula is combined to create a composite score for each potential investment and recommends when to buy and sell and how long to hold each security. The Adviser uses composite scores to create a portfolio, generally composed of approximately ten to twenty securities. Between securities with similar ranks, those with lower expenses and higher liquidity are preferred by the Adviser. When an unexpected event occurs, the Adviser’s proprietary technology may signal a move of up to the entire portfolio to cash or ETFs that invest in money market funds. The Fund may invest up to 100% of its assets in ETFs of a particular asset class or investment style. In managing the Fund’s portfolio, the Adviser will engage in frequent trading, resulting in a high portfolio turnover rate. Mindful Conservative in the Fund’s name refers to the Fund’s strategy, which the Adviser designed for investors who want an adaptive, conservative strategy but also is designed to provide adequate performance during a recovery.

</rr:StrategyNarrativeTextBlock>

<rr:RiskHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> PRINCIPAL RISKS: </rr:RiskHeading>

<rr:RiskNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

As with all ETFs, there is the risk that you could lose money through your investment in the Fund. Many factors affect the Fund’s NAV and performance. <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Cash and Cash Equivalents 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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td style="width: 0.25in"> </td> <td style="width: 0.25in">●</td> <td style="-sec-ix-redline: true; text-align: justify">Convertible Securities Risk: Convertible securities are hybrid securities that have characteristics of both fixed income and equity securities and are subject to risks associated with both fixed income and equity securities. </td></tr> </table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">ETF Structure Risk: The Fund is structured as an ETF and as a result is subject to the special risks, including:</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.75in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Large Capitalization Stock Risk: Large-capitalization companies may be less able than smaller capitalization companies to adapt to changing market conditions. Large-capitalization companies may be more mature and subject to more limited growth potential compared with smaller capitalization companies. During different market cycles, the performance of large capitalization companies has trailed the overall performance of the broader securities market.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Management Risk: The 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 Adviser’s investment strategy will produce the desired results. </td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="-sec-ix-redline: true; width: 0.25in"/><td style="-sec-ix-redline: true; width: 0.25in">●</td><td style="-sec-ix-redline: true; text-align: justify">Money Market Risk: The Fund’s investment in a money market fund is not a deposit of any bank and is not insured or guaranteed by the FDIC or any other government agency. Certain money market funds seek to preserve the value of their shares at $1.00 per share, although there can be no assurance that they will do so, and it is possible to lose money by investing in such a money market fund. A major or unexpected change in interest rates or a decline in the credit quality of an issuer or entity providing credit support, an inactive trading market for money market instruments, or adverse market, economic, industry, political, regulatory, geopolitical, and other conditions could cause the share price of such a money market fund to fall below $1.00. Other money market funds price and transact at a “floating” NAV that will fluctuate along with changes in the market-based value of fund assets. Shares sold utilizing a floating NAV may be worth more or less than their original purchase price. Recent changes in the regulation of money market funds may affect the operations and structures of money market funds.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">Portfolio Turnover Risk: A higher portfolio turnover will result in higher transactional and brokerage costs.</td></tr></table> <table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"/><td style="width: 0.25in">●</td><td style="text-align: justify">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.</td></tr></table>

</rr:RiskNarrativeTextBlock>

<rr:RiskLoseMoney contextRef="AsOf2021-10-05_custom_S000072879Member"> As with all ETFs, there is the risk that you could lose money through your investment in the Fund. </rr:RiskLoseMoney>

<rr:BarChartAndPerformanceTableHeading contextRef="AsOf2021-10-05_custom_S000072879Member"> Performance: </rr:BarChartAndPerformanceTableHeading>

<rr:PerformanceNarrativeTextBlock contextRef="AsOf2021-10-05_custom_S000072879Member">

<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_902_err--PerformanceOneYearOrLess_c20211005__20211005__dei--LegalEntityAxis__custom--S000072879Member_z8aUKw6GjxKj">Because the Fund has not yet launched, the performance section is omitted. In the future, performance information will be presented in this section of this Prospectus. Also, shareholder reports containing financial and performance information will be mailed to shareholders semi-annually.

</rr:PerformanceNarrativeTextBlock>

<rr:PerformanceOneYearOrLess contextRef="AsOf2021-10-05_custom_S000072879Member"> Because the Fund has not yet launched, the performance section is omitted. </rr:PerformanceOneYearOrLess>

<link:footnoteLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">

<link:loc xlink:href="#Fact000028" xlink:label="Fact000028" xlink:type="locator"/>

<link:footnote id="Footnote000033" xlink:label="Footnote000033" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">

<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_902_err--OtherExpensesNewFundBasedOnEstimates_c20211005__20211005__dei--LegalEntityAxis__custom--S000072880Member_zTyJ3LYu3iWb">Other Expenses are estimated for the Fund’s initial fiscal year.</xhtml:span>

</link:footnote>

<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000028" xlink:to="Footnote000033" xlink:type="arc"/>

<link:loc xlink:href="#Fact000030" xlink:label="Fact000030" xlink:type="locator"/>

<link:footnote id="Footnote000035" xlink:label="Footnote000035" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">

<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_905_err--AcquiredFundFeesAndExpensesBasedOnEstimates_c20211005__20211005__dei--LegalEntityAxis__custom--S000072880Member_zDkeleFMYs91">Acquired Fund Fees and Expenses, which are estimated for the Fund’s initial fiscal year, are the indirect costs of investing in other investment companies.</xhtml:span> <xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_90A_err--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20211005__20211005__dei--LegalEntityAxis__custom--S000072880Member_zbCska0OJsR9">The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s highlights because the financial statements include only direct operating expenses incurred by the Fund</xhtml:span>.

</link:footnote>

<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000030" xlink:to="Footnote000035" xlink:type="arc"/>

<link:loc xlink:href="#Fact000063" xlink:label="Fact000063" xlink:type="locator"/>

<link:footnote id="Footnote000068" xlink:label="Footnote000068" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">

<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_901_err--OtherExpensesNewFundBasedOnEstimates_c20211005__20211005__dei--LegalEntityAxis__custom--S000072878Member_z5AJ6JWuQsS2">Other Expenses are estimated for the Fund’s initial fiscal year.</xhtml:span>

</link:footnote>

<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000063" xlink:to="Footnote000068" xlink:type="arc"/>

<link:loc xlink:href="#Fact000065" xlink:label="Fact000065" xlink:type="locator"/>

<link:footnote id="Footnote000070" xlink:label="Footnote000070" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">

<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_904_err--AcquiredFundFeesAndExpensesBasedOnEstimates_c20211005__20211005__dei--LegalEntityAxis__custom--S000072878Member_zYsWRt9fy4p4">Acquired Fund Fees and Expenses, which are estimated for the Fund’s current fiscal year, are the indirect costs of investing in other investment companies.</xhtml:span> <xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_908_err--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20211005__20211005__dei--LegalEntityAxis__custom--S000072878Member_zIgSVlOKvf2h">The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.</xhtml:span>

</link:footnote>

<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000065" xlink:to="Footnote000070" xlink:type="arc"/>

<link:loc xlink:href="#Fact000099" xlink:label="Fact000099" xlink:type="locator"/>

<link:footnote id="Footnote000104" xlink:label="Footnote000104" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">

<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_90E_err--OtherExpensesNewFundBasedOnEstimates_c20211005__20211005__dei--LegalEntityAxis__custom--S000072879Member_zh5v7Q3C8Fr5">Other Expenses are estimated for the Fund’s initial fiscal year.</xhtml:span>

</link:footnote>

<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000099" xlink:to="Footnote000104" xlink:type="arc"/>

<link:loc xlink:href="#Fact000101" xlink:label="Fact000101" xlink:type="locator"/>

<link:footnote id="Footnote000106" xlink:label="Footnote000106" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">

<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_900_err--AcquiredFundFeesAndExpensesBasedOnEstimates_c20211005__20211005__dei--LegalEntityAxis__custom--S000072879Member_zNTxkiGXty1">Acquired Fund Fees and Expenses, which are estimated for the Fund’s current fiscal year, are the indirect costs of investing in other investment companies.</xhtml:span> <xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_909_err--ExpensesNotCorrelatedToRatioDueToAcquiredFundFees_c20211005__20211005__dei--LegalEntityAxis__custom--S000072879Member_zbhQFtJ3R3je">The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.</xhtml:span>

</link:footnote>

<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000101" xlink:to="Footnote000106" xlink:type="arc"/>

</link:footnoteLink>

</xbrl>

27 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/29/24  Collaborative Inv Series Trust    485BPOS     4/29/24   15:2.2M                                   Qes, LLC/FA
 4/17/24  Collaborative Inv Series Trust    485BPOS     4/17/24   18:2.5M                                   Qes, LLC/FA
 3/13/24  Collaborative Inv Series Trust    485APOS                1:738K                                   Qes, LLC/FA
 2/02/24  Collaborative Inv Series Trust    485APOS                1:799K                                   Qes, LLC/FA
 1/29/24  Collaborative Inv Series Trust    485BPOS     1/29/24   14:9.9M                                   Qes, LLC/FA
12/04/23  Collaborative Inv Series Trust    485BPOS    12/04/23   17:12M                                    Qes, LLC/FA
 9/20/23  Collaborative Inv Series Trust    485APOS                1:763K                                   Quality EDGAR So… LLC/FA
 8/16/23  Collaborative Inv Series Trust    485BPOS     8/16/23   15:2.3M                                   Quality EDGAR So… LLC/FA
 6/02/23  Collaborative Inv Series Trust    485APOS                1:900K                                   Quality EDGAR So… LLC/FA
 5/26/23  Collaborative Inv Series Trust    485BPOS     5/26/23   14:2M                                     Quality EDGAR So… LLC/FA
 5/01/23  Collaborative Inv Series Trust    485BPOS     5/01/23   14:2M                                     Quality EDGAR So… LLC/FA
 3/27/23  Collaborative Inv Series Trust    485APOS                1:740K                                   Quality EDGAR So… LLC/FA
 1/31/23  Collaborative Inv Series Trust    485BPOS     2/01/23   18:8.6M                                   Quality EDGAR So… LLC/FA
12/30/22  Collaborative Inv Series Trust    485BPOS     1/02/23   17:1.9M                                   Quality EDGAR So… LLC/FA
10/18/22  Collaborative Inv Series Trust    485APOS                1:721K                                   Quality EDGAR So… LLC/FA
 8/12/22  Collaborative Inv Series Trust    497         8/12/22    1:754K                                   Quality EDGAR So… LLC/FA
 8/12/22  Collaborative Inv Series Trust    497         8/12/22    1:858K                                   Quality EDGAR So… LLC/FA
 7/29/22  Collaborative Inv Series Trust    485BPOS     7/29/22   14:2M                                     Quality EDGAR So… LLC/FA
 7/29/22  Collaborative Inv Series Trust    485BPOS     7/29/22   14:1.8M                                   Quality EDGAR So… LLC/FA
 4/27/22  Collaborative Inv Series Trust    485BPOS     4/30/22   14:1.9M                                   Quality EDGAR So… LLC/FA
 1/28/22  Collaborative Inv Series Trust    485BPOS     2/01/22   17:7.8M                                   Quality EDGAR So… LLC/FA
 1/14/22  Collaborative Inv Series Trust    485BPOS     1/19/22   16:1.9M                                   Quality EDGAR So… LLC/FA
12/30/21  Collaborative Inv Series Trust    485BPOS     1/05/22   15:1.7M                                   Quality EDGAR So… LLC/FA
12/06/21  Collaborative Inv Series Trust    485BPOS    12/07/21   20:2M                                     Quality EDGAR So… LLC/FA
11/05/21  Collaborative Inv Series Trust    485APOS                1:688K                                   Quality EDGAR So… LLC/FA
11/04/21  Collaborative Inv Series Trust    485BPOS    11/05/21   16:2.1M                                   Quality EDGAR So… LLC/FA
10/22/21  Collaborative Inv Series Trust    485APOS                1:631K                                   Quality EDGAR So… LLC/FA

23 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/01/21  Collaborative Inv Series Trust    485BPOS    10/04/21   20:2.1M                                   Quality EDGAR So… LLC/FA
 8/13/21  Collaborative Inv Series Trust    485BPOS     8/16/21    6:846K                                   Quality EDGAR So… LLC/FA
 7/28/21  Collaborative Inv Series Trust    485BPOS     7/29/21    4:854K                                   Quality EDGAR So… LLC/FA
 5/11/21  Collaborative Inv Series Trust    485BPOS     5/11/21    5:1M                                     Quality EDGAR So… LLC/FA
 4/29/21  Collaborative Inv Series Trust    485BPOS     4/30/21    4:763K                                   Quality EDGAR So… LLC/FA
 4/29/21  Collaborative Inv Series Trust    485BPOS     4/30/21   12:1.7M                                   Quality EDGAR So… LLC/FA
 4/28/21  Collaborative Inv Series Trust    485BPOS     4/30/21    7:1.1M                                   Quality EDGAR So… LLC/FA
 1/28/21  Collaborative Inv Series Trust    485BPOS     2/01/21    5:1.5M                                   Quality EDGAR So… LLC/FA
12/11/20  Collaborative Inv Series Trust    485BPOS    12/14/20    7:1M                                     Quality EDGAR So… LLC/FA
10/16/20  Collaborative Inv Series Trust    485APOS                8:1.2M                                   Quality EDGAR So… LLC/FA
 9/21/20  Collaborative Inv Series Trust    485BPOS     9/21/20    7:1M                                     Quality EDGAR So… LLC/FA
 4/29/20  Collaborative Inv Series Trust    485BPOS     5/01/20    5:2.1M                                   Mutual Sharehold… LLC/FA
 2/26/20  Collaborative Inv Series Trust    485BPOS     2/28/20   13:3.1M                                   Mutual Sharehold… LLC/FA
 2/25/20  Collaborative Inv Series Trust    485BPOS     2/26/20    8:2.6M                                   Mutual Sharehold… LLC/FA
 8/19/19  Collaborative Inv Series Trust    485BPOS     8/20/19    6:1.8M                                   Mutual Sharehold… LLC/FA
 6/06/19  Collaborative Inv Series Trust    485BPOS     6/07/19    8:2.9M                                   Mutual Sharehold… LLC/FA
 5/22/19  Collaborative Inv Series Trust    485BPOS     5/22/19    9:2.7M                                   Mutual Sharehold… LLC/FA
 5/16/19  Collaborative Inv Series Trust    485BPOS     5/16/19   17:3.5M                                   Mutual Sharehold… LLC/FA
 5/16/19  Collaborative Inv Series Trust    485BPOS     5/16/19   12:820K                                   Mutual Sharehold… LLC/FA
 5/15/19  Collaborative Inv Series Trust    485BPOS     5/15/19   13:3.3M                                   Mutual Sharehold… LLC/FA
 1/24/18  Collaborative Inv Series Trust    N-1A/A¶                4:2.1M                                   Mutual Sharehold… LLC/FA
 1/16/18  Collaborative Inv Series Trust    N-1A/A¶               11:1.4M                                   Mutual Sharehold… LLC/FA
10/23/17  Collaborative Inv Series Trust    N-1A¶                  5:2.8M                                   Mutual Sharehold… LLC/FA

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Filing Submission 0001387131-21-009771 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Collaborative Investment Series Trust, et al. – ‘485BPOS’ on 10/4/21 – ‘XML’

On: Monday, 10/4/21, at 5:07pm ET · Effective: 10/5/21 · Accession #: 1387131-21-9771 · File #s: 811-23306, 333-221072

Post-Effective Amendment of a Form N-1 or N-1A Registration — Rule 485(b)Filing Table of Contents

‘XML’ — XBRL Instance — mohr-48bpos_100521_htm

This Document is an XBRL XML File.

27 Subsequent Filings that Reference this Filing

23 Previous Filings that this Filing References

Post-Effective Amendment of a Form N-1 or N-1A Registration — Rule 485(b)

Filing Table of Contents