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Collaborative Investment Series Trust, et al. – ‘485BPOS’ on 4/17/24 – ‘XML’

On:  Wednesday, 4/17/24, at 3:07pm ET   ·   Effective:  4/17/24   ·   Accession #:  1999371-24-4896   ·   File #s:  811-23306, 333-221072

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

 4/17/24  Collaborative Inv Series Trust    485BPOS     4/17/24   18:2.5M                                   Qes, LLC/FA
          → Anydrus Advantage ETF

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    769K 
                Registration                                                     
 2: EX-99.(D)(XII)  Management Agreement                            HTML     75K 
 3: EX-99.(D)(XIII)  Sub-Advisory Agreement                         HTML     51K 
 4: EX-99.(E)(II)  Underwriting Agreement                           HTML     82K 
 5: EX-99.(G)(II)  Custody Agreement                                HTML    245K 
 6: EX-99.(H)(IX)  Expense Limitation Agreement                     HTML     19K 
 7: EX-99.(I)(I)  Legal Opinion and Consent of Thompson Hine LLP    HTML     19K 
17: R1          Risk/Return Summary                                 HTML    119K 
18: R4          Risk/Return Detail Data                             HTML    180K 
13: XML         IDEA XML File -- Filing Summary                      XML     16K 
16: XML         XBRL Instance -- ndow-485bpos_041723_htm             XML    112K 
 9: EX-101.CAL  XBRL Calculations -- ndow-20240417_cal               XML     26K 
10: EX-101.DEF  XBRL Definitions -- ndow-20240417_def                XML    149K 
11: EX-101.LAB  XBRL Labels -- ndow-20240417_lab                     XML    383K 
12: EX-101.PRE  XBRL Presentations -- ndow-20240417_pre              XML    404K 
 8: EX-101.SCH  XBRL Schema -- ndow-20240417                         XSD     33K 
14: JSON        XBRL Instance as JSON Data -- MetaLinks              103±   211K 
15: ZIP         XBRL Zipped Folder -- 0001999371-24-004896-xbrl      Zip    292K

‘XML’   —   XBRL Instance — ndow-485bpos_041723_htm

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<rr:AnnualFundOperatingExpensesTableTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="ixv-9"> ~ http://anydrusfunds.com/role/OperatingExpensesData column period compact * column dei_LegalEntityAxis compact ndow_S000084713Member column rr_ProspectusShareClassAxis compact * row primary compact * ~ </rr:AnnualFundOperatingExpensesTableTextBlock>
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<rr:RiskReturnHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000016"> FUND SUMMARY: ANYDRUS ADVANTAGE ETF </rr:RiskReturnHeading>
<rr:ObjectiveHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000017"> Investment Objectives: </rr:ObjectiveHeading>
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<p id="xdx_A80_err--ObjectivePrimaryTextBlock_zdrpbEQeuDs8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true">The Anydrus Advantage ETF (the “Fund”) seeks to provide total return, consisting of capital appreciation and income.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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<rr:ExpenseHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000019"> Fees and Expenses of the Fund: </rr:ExpenseHeading>
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<p id="xdx_A8F_err--ExpenseNarrativeTextBlock_ztMqIVuH2TZd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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. <b>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</b>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
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<rr:OperatingExpensesCaption contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000022"> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) </rr:OperatingExpensesCaption>
<rr:ManagementFeesOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000024" unitRef="Ratio"> 0.0125 </rr:ManagementFeesOverAssets>
<rr:DistributionAndService12b1FeesOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000026" unitRef="Ratio"> 0.0000 </rr:DistributionAndService12b1FeesOverAssets>
<rr:OtherExpensesOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000028" unitRef="Ratio"> 0.0060 </rr:OtherExpensesOverAssets>
<rr:AcquiredFundFeesAndExpensesOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000030" unitRef="Ratio"> 0.0025 </rr:AcquiredFundFeesAndExpensesOverAssets>
<rr:ExpensesOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000032" unitRef="Ratio"> 0.0210 </rr:ExpensesOverAssets>
<rr:FeeWaiverOrReimbursementOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000034" unitRef="Ratio"> 0.0000 </rr:FeeWaiverOrReimbursementOverAssets>
<rr:NetExpensesOverAssets contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="INF" id="Fact000036" unitRef="Ratio"> 0.0210 </rr:NetExpensesOverAssets>
<rr:OtherExpensesNewFundBasedOnEstimates contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000038"> Other expenses are estimated for the current fiscal year. </rr:OtherExpensesNewFundBasedOnEstimates>
<rr:AcquiredFundFeesAndExpensesBasedOnEstimates contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000040"> 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="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000041"> 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:FeeWaiverOrReimbursementOverAssetsDateOfTermination contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000043"> July 31, 2025 </rr:FeeWaiverOrReimbursementOverAssetsDateOfTermination>
<rr:ExpenseExampleHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000044"> Example: </rr:ExpenseExampleHeading>
<rr:ExpenseExampleNarrativeTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000045">
<p id="xdx_A83_err--ExpenseExampleNarrativeTextBlock_zLp5AwUppLu3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">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:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
</rr:ExpenseExampleNarrativeTextBlock>
<rr:ExpenseExampleYear01 contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="0" id="Fact000047" unitRef="USD"> 213 </rr:ExpenseExampleYear01>
<rr:ExpenseExampleYear03 contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_C000249165Member" decimals="0" id="Fact000048" unitRef="USD"> 658 </rr:ExpenseExampleYear03>
<rr:PortfolioTurnoverHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000049"> PORTFOLIO TURNOVER: </rr:PortfolioTurnoverHeading>
<rr:PortfolioTurnoverTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000050">
<p id="xdx_A8B_err--PortfolioTurnoverTextBlock_zoCy1Vfjnlzk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-variant: small-caps"><b></b></span>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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
</rr:PortfolioTurnoverTextBlock>
<rr:StrategyHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000051"> PRINCIPAL INVESTMENT STRATEGIES: </rr:StrategyHeading>
<rr:StrategyNarrativeTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000052">
<p id="xdx_A88_err--StrategyNarrativeTextBlock_zgeUhD7U5Us6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund is an actively managed exchange traded fund (“ETF”) that seeks to achieve its investment objective by investing in a combination of equity securities, fixed income securities and ETFs (“Underlying Funds”) representing a broad range of asset classes. The Fund seeks to provide attractive risk adjusted returns over market cycles by investing in a broadly diversified portfolio. In doing so, the Fund seeks to provide investors with 1) reduced correlation to U.S. only stock and bond market movements, and 2) multiple alternative return sources that are independent from traditional U.S. stock and bond markets. A complementary strategy to holding a diverse asset-based portfolio is the fund manager's use of opportunistic selection of individual securities to hold within the selected asset class mix.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Underlying Funds in which the Fund invests each primarily invest in (1) equity securities of domestic, foreign, and emerging market issuers, (2) U.S. fixed income securities, (3) real estate investment trusts, (4) master-limited partnerships, (5) agency and mortgage-backed securities, (6) managed futures contracts or (7) physical commodities. The Fund may also invest in money market funds depending on market conditions. Underlying Funds that invest in equity securities may do so without regard to market capitalization and may invest in American Depositary Receipts (“ADRs”). Fixed income Underlying Funds may invest fixed income securities of any maturity or credit quality including non-investment grade fixed income securities, commonly known as “high yield” or “junk” bonds that are rated below Baa3 by Moody’s Investors Service or similarly by another rating agency.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund may also invest directly in individual equity securities without regard to capitalization and individual bonds from issuers of any credit quality or maturity, including high yield or “junk” bonds. The Fund considers an emerging market country to include any country that is (1) generally recognized to be an emerging market country by the international financial community, including the World Bank; (2) classified by the United Nations as a developing country; or (3) included in the MSCI Emerging Markets Index.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund has flexibility to invest in a broad range of equity, fixed income and alternative asset classes in the U.S. and other markets throughout the world. The Fund’s adviser invests the Fund’s assets, either directly or through Underlying Funds, in accordance with the following investment exposure ranges:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 50%; border-collapse: collapse; margin-right: auto"> <tr style="vertical-align: top; background-color: #CCCCCC"> <td style="border: black 1pt solid; width: 65%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Equity Securities</b></span></td> <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 35%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>30% to 70%</b></span></td></tr> <tr style="vertical-align: top; background-color: #F1F1F1"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Fixed Income Securities</b></span></td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>30% to 70%</b></span></td></tr> <tr style="vertical-align: top; background-color: #F1F1F1"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Alternative Assets</b></span></td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>0% to 30%</b></span></td></tr> <tr style="vertical-align: top; background-color: #F1F1F1"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>Cash/Money Market Funds</b></span></td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><span style="font-size: 10pt"><b>0% to 30%</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The adviser utilizes rules-based, quantitative systems combined with discretionary analysis to measure market risk and selects the underlying assets to buy and sell for the Fund. The Fund’s investment adviser will manage the Fund’s portfolio using an investment process that analyzes fundamental, market-related, technical and statistical attributes of eligible securities to assess total return potential. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Fund may hedge up to 10% of its portfolio by investing in futures contracts on equity indexes, U.S. and foreign sovereign bonds, commodities or volatility indexes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true">Through these actions, the Adviser seeks to provide favorable returns relative to standard benchmarks on both an absolute total return as well as on a risk-adjusted return basis. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
</rr:StrategyNarrativeTextBlock>
<rr:RiskHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000053"> PRINCIPAL RISKS: </rr:RiskHeading>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_rr_RiskLoseMoneyMember" id="Fact000054"> As with all ETFs, there is the risk that you could lose money through your investment in the Fund. </rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_AllocationRiskMember" id="Fact000056">
<p id="xdx_A80_err--RiskTextBlock_hrr--RiskAxis__custom--AllocationRiskMember_zl3y09vvja6b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Allocation Risk. </i>Investments in the Fund are subject to risks related to the Adviser’s allocation choices. The selection of the assets could cause the Fund to lose value or its results lag relevant benchmarks or other funds with similar objectives. </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_918_exdx--NextElement_z7oHxGLbqXP7"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_AssetBackedAndMortgageBackedSecuritiesRiskMember" id="Fact000058">
<p id="xdx_A82_err--RiskTextBlock_hrr--RiskAxis__custom--AssetBackedAndMortgageBackedSecuritiesRiskMember_zK0iGY9bkcbj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Asset-Backed and Mortgage-Backed Securities Risk.</i> When the Fund invests in asset-backed securities and mortgage-backed securities, the Fund is subject to the risk that, if the underlying borrowers fail to pay interest or repay principal, the assets backing these securities may not be sufficient to support payments on the securities.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91E_exdx--NextElement_zt1U6s3XUffb"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_CashAndCashEquivalentsRiskMember" id="Fact000060">
<p id="xdx_A8A_err--RiskTextBlock_hrr--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zQ9MNxDSwQYi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Cash and Cash Equivalents Risk.</i> 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91F_exdx--NextElement_ztgDjGKagXD"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_CommoditiesRiskMember" id="Fact000062">
<p id="xdx_A89_err--RiskTextBlock_hrr--RiskAxis__custom--CommoditiesRiskMember_zI8TLAnnogji" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Commodities Risk. </i>Investing in the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Commodity prices may be influenced by various external factors such as unfavorable weather, animal and plant disease, geologic and environmental factors as well as changes in government regulation such as tariffs, embargoes or burdensome production rules and restrictions.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_917_exdx--NextElement_zfesabIKHT3e"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_FuturesRiskMember" id="Fact000064">
<p id="xdx_A85_err--RiskTextBlock_hrr--RiskAxis__custom--FuturesRiskMember_z5FDKx1U9shg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Futures Risk.</i> Investment in futures contracts involves leverage which means a small percentage of assets invested in futures can have a disproportionately large impact on the Fund. This risk could cause the Fund to lose more than the principal amount invested. Futures contracts may become mispriced or improperly valued when compared to the adviser’s expectations and may not produce the desired results. Additionally, changes in the value of futures contracts may not track or correlate perfectly with the underlying index or reference asset because of temporary, or even long-term, supply and demand imbalances and because futures do not pay dividends unlike the stocks upon which they may be based. The adviser’s use of futures for hedging purposes may not work as intended, resulting in losses for the Fund. The use of futures for hedging purposes may also limit potential gains for the Fund when compared to unhedged funds.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true">Investments in futures contracts are subject to the volatility of the markets in which they trade. Prices of commodities, currencies, and financial instruments can fluctuate widely due to factors like changes in interest rates, exchange rates, government policies, and supply and demand dynamics. The futures markets are subject to comprehensive regulation. Changes in regulations or their enforcement could impact the strategies used by managed futures ETFs, potentially affecting performance. Managed futures strategies depend on a range of operational processes, including order execution, settlement, and clearing. Failures in these processes can result in unexpected losses.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_914_exdx--NextElement_zMrpWaaSP7P5"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_EmergingMarketsRiskMember" id="Fact000066">
<p id="xdx_A80_err--RiskTextBlock_hrr--RiskAxis__custom--EmergingMarketsRiskMember_zRjv9KRRb7ee" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Emerging Markets Risk. </i>Emerging market countries may have relatively unstable governments, weaker economies, and less-developed legal systems with fewer security holder rights. Emerging market economies may be based on only a few industries and security issuers may be more susceptible to economic weakness and more likely to default. Emerging market securities also tend to be less liquid. Due to this relative lack of liquidity, the Fund may have to accept a lower price or may not be able to sell a portfolio security at all. There may be less reliable or publicly available information about emerging markets due to non-uniform regulatory, auditing or financial recordkeeping standards (including material limits on Public Company Accounting Oversight Board (“PCAOB”) inspection, investigation and enforcement), which could cause errors in the implementation of the Fund’s investment strategy.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91D_exdx--NextElement_z1vT4ARRBJ33"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_ETFStructureRiskMember" id="Fact000068">
<p id="xdx_A8F_err--RiskTextBlock_hrr--RiskAxis__custom--ETFStructureRiskMember_zGm82YL2WJzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>ETF Structure Risk.</i> The Fund is structured as an ETF and as a result is subject to the special risks, including:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><span style="-sec-ix-redline: true"><span style="font-family: Times New Roman, Times, Serif">●</span></span></td><td style="text-align: justify"><span style="-sec-ix-redline: true">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.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif">●</span></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> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><span style="-sec-ix-redline: true"><span style="font-family: Times New Roman, Times, Serif">●</span></span></td><td style="text-align: justify"><span style="-sec-ix-redline: true">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.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.25in"></td><td style="width: 0.25in"><span style="-sec-ix-redline: true"><span style="font-family: Times New Roman, Times, Serif">●</span></span></td><td style="text-align: justify"><span style="-sec-ix-redline: true">When all or a portion of an ETF’s underlying securities trade in a market that is closed when the market for the shares is open, there may be changes from the last quote of the closed market and the quote from the Fund’s domestic trading day, which could lead to differences between the market value of the shares and the Fund’s NAV.</span></td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> </p> <div style="display: none"><span id="xdx_91F_exdx--NextElement_zxJ0YdJ6dWs3"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_ExchangeTradedFundsRiskMember" id="Fact000071">
<p id="xdx_A84_err--RiskTextBlock_hrr--RiskAxis__custom--ExchangeTradedFundsRiskMember_zjcGBrBqcn15" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Exchange Traded Funds Risk</i>. 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<i>.</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_913_exdx--NextElement_zhCLVadwIvB4"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_FixedIncomeRiskMember" id="Fact000073">
<p id="xdx_A8E_err--RiskTextBlock_hrr--RiskAxis__custom--FixedIncomeRiskMember_z4J6hfBtJf37" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Fixed Income Risk. </i>Typically, a rise in interest rates causes a decline in the value of fixed income securities. In general, the market price of fixed income securities with longer maturities will decrease more in response to rising 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 an American Underlying Fund or Other Underlying Fund later than expected), and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). Current conditions have resulted in a rise in interest rates, which in turn may result in a decline in the value of the fixed income investments held by an American Underlying Fund or Other Underlying Fund. As a result, for the present, interest rate risk may be heightened.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_914_exdx--NextElement_zgBW7qhtjoj8"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_BelowInvestmentGradeSecuritiesRiskMember" id="Fact000075">
<p id="xdx_A8A_err--RiskTextBlock_hrr--RiskAxis__custom--BelowInvestmentGradeSecuritiesRiskMember_zFchFWUa9st7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Below Investment Grade Securities Risk.</i> Although bonds rated below investment grade (also known as “junk” securities) generally pay higher rates of interest than investment grade bonds, bonds rated below investment grade are higher risk, which may result in loss of income and principal.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91A_exdx--NextElement_zb4IDDmTjpT5"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_ForeignRiskMember" id="Fact000077">
<p id="xdx_A82_err--RiskTextBlock_hrr--RiskAxis__custom--ForeignRiskMember_z2c9VxPYun0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Foreign Risk. </i>Investing in notes of foreign issuers involves risks not typically associated with U.S. investments, including adverse political, social and economic developments, less liquidity, greater volatility, less developed or less efficient trading markets, political instability and differing auditing and legal standards.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91E_exdx--NextElement_zJGsCVzg4cX1"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_LargeCapitalizationStockRiskMember" id="Fact000079">
<p id="xdx_A83_err--RiskTextBlock_hrr--RiskAxis__custom--LargeCapitalizationStockRiskMember_zPDHkhj65wP4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Large Capitalization Stock Risk.</i> 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_911_exdx--NextElement_zbMnqeBykfCg"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_ManagementRiskMember" id="Fact000081">
<p id="xdx_A8F_err--RiskTextBlock_hrr--RiskAxis__custom--ManagementRiskMember_z3vsccxRMlYk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Management Risk.</i> 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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91E_exdx--NextElement_zKVK0eZtoi53"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_MarketAndGeopoliticalRiskMember" id="Fact000083">
<p id="xdx_A85_err--RiskTextBlock_hrr--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zlVHaHjp1boa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Market and Geopolitical Risk</i>. 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.</p> <div style="display: none"><span id="xdx_910_exdx--NextElement_zpdYisDmKiVf"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_MasterLimitedPartnershipMLPRiskMember" id="Fact000085">
<p id="xdx_A8B_err--RiskTextBlock_hrr--RiskAxis__custom--MasterLimitedPartnershipMLPRiskMember_zzmNUoXreCl3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><br/> <i>Master-Limited Partnership (MLP) Risk.</i> Investments in MLPs involve risks different from those of investing in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security, risks related to potential conflicts of interest between an MLP and the MLP’s general partner, cash flow risks, dilution risks and risks related to the general partner’s limited call right. MLPs and MLP-related securities are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments may not provide attractive returns.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_912_exdx--NextElement_z09fsXixaTy6"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_MoneyMarketRiskMember" id="Fact000087">
<p id="xdx_A88_err--RiskTextBlock_hrr--RiskAxis__custom--MoneyMarketRiskMember_zRRUTrI9mSBk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Money Market Risk.</i> 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_911_exdx--NextElement_zZMKbxYNndt4"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_RealEstateInvestmentTrustREITRiskMember" id="Fact000089">
<p id="xdx_A8E_err--RiskTextBlock_hrr--RiskAxis__custom--RealEstateInvestmentTrustREITRiskMember_zHSwm7Yi4hJ2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Real Estate Investment Trust (REIT) Risk.</i> The value of securities issued by a REIT may be affected by changes in the value of the underlying property owned by the REITs and the value of mortgage REITs may be affected by the quality of loan assets. Investment in REITs involves risks similar to those associated with investing in small capitalization companies, and REITs (especially mortgage REITs) are subject to interest rate risks. Because REITs incur expenses like management fees, investments in REITs also add an additional layer of expenses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <div style="display: none"><span id="xdx_91F_exdx--NextElement_z2NoBfSlvL4b"></span></div>
</rr:RiskTextBlock>
<rr:RiskTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member_custom_SmallAndMediumCapitalizationStockRiskMember" id="Fact000091">
<p id="xdx_A8B_err--RiskTextBlock_hrr--RiskAxis__custom--SmallAndMediumCapitalizationStockRiskMember_zPHO5gYaMhMc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-redline: true"><i>Small and Medium Capitalization Stock Risk. </i> 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.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
</rr:RiskTextBlock>
<rr:BarChartAndPerformanceTableHeading contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000092"> Performance: </rr:BarChartAndPerformanceTableHeading>
<rr:PerformanceNarrativeTextBlock contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000093">
<p id="xdx_A85_err--PerformanceNarrativeTextBlock_zvY2JjAseh5a" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_90C_err--PerformanceOneYearOrLess_c20240417__20240417__dei--LegalEntityAxis__custom--S000084713Member_zRSS9LFMuoU5">Since the Fund has not yet launched, the performance section is omitted.</span> 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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
</rr:PerformanceNarrativeTextBlock>
<rr:PerformanceOneYearOrLess contextRef="From2024-04-172024-04-17_custom_S000084713Member" id="Fact000094"> Since 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="Footnote000037" xlink:label="Footnote000037" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">
<xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_90C_err--OtherExpensesNewFundBasedOnEstimates_c20240417__20240417__dei--LegalEntityAxis__custom--S000084713Member_zgFnvhyedr8j">Other expenses are estimated for the current fiscal year.</xhtml:span>
</link:footnote>
<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000028" xlink:to="Footnote000037" xlink:type="arc"/>
<link:loc xlink:href="#Fact000030" xlink:label="Fact000030" xlink:type="locator"/>
<link:footnote id="Footnote000039" xlink:label="Footnote000039" 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--AcquiredFundFeesAndExpensesBasedOnEstimates_c20240417__20240417__dei--LegalEntityAxis__custom--S000084713Member_zuZaqW8Z7iH3">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_c20240417__20240417__dei--LegalEntityAxis__custom--S000084713Member_zgWn9Z3BkrK5">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="Fact000030" xlink:to="Footnote000039" xlink:type="arc"/>
<link:loc xlink:href="#Fact000034" xlink:label="Fact000034" xlink:type="locator"/>
<link:footnote id="Footnote000042" xlink:label="Footnote000042" xlink:role="http://www.xbrl.org/2003/role/footnote" xlink:type="resource" xml:lang="en-US">
The adviser has contractually agreed to reduce its fees and to reimburse expenses, at least through <xhtml:span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJpc2svUmV0dXJuIERldGFpbCBEYXRhIHtFbGVtZW50c30A" id="xdx_90A_err--FeeWaiverOrReimbursementOverAssetsDateOfTermination_c20240417__20240417__dei--LegalEntityAxis__custom--S000084713Member_ztPMWitrwA08">July 31, 2025</xhtml:span> to ensure that Net Annual Fund Operating Expenses (exclusive of any (i) front-end or contingent deferred loads, (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses, (iv) fees and expenses associated with instruments in other collective investment vehicles or derivative instruments (including for example options and swap fees and expenses), (v) borrowing costs (such as interest and dividend expense on securities sold short), (vi) taxes, or (vii) extraordinary expenses such as litigation (which may include indemnification of Fund officers and trustees or contractual indemnification of Fund service providers (other than the advisor)) will not exceed 1.85%. Fee waivers and expense reimbursements are subject to possible recoupment from the Fund in future years on a rolling three-year basis (within the three years after the fees have been waived or reimbursed) if such recoupment can be achieved within the foregoing expense limits or the expense limits in place at the time of recoupment. Fee waiver and reimbursement arrangements can decrease the Fund’s expenses and boost its performance. This expense limitation agreement may be terminated at any time, by the Board upon sixty days written notice to the adviser.
</link:footnote>
<link:footnoteArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/fact-footnote" xlink:from="Fact000034" xlink:to="Footnote000042" xlink:type="arc"/>
</link:footnoteLink>
</xbrl>

1 Subsequent Filing that References 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

17 Previous Filings that this Filing References

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

 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
 8/16/23  Collaborative Inv Series Trust    485BPOS     8/16/23   15:2.3M                                   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
 1/14/22  Collaborative Inv Series Trust    485BPOS     1/19/22   16:1.9M                                   Quality EDGAR So… LLC/FA
10/04/21  Collaborative Inv Series Trust    485BPOS    10/05/21   17:2.3M                                   Quality EDGAR So… LLC/FA
10/01/21  Collaborative Inv Series Trust    485BPOS    10/04/21   20:2.1M                                   Quality EDGAR So… LLC/FA
 4/28/21  Collaborative Inv Series Trust    485BPOS     4/30/21    7:1.1M                                   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
 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
 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
10/23/17  Collaborative Inv Series Trust    N-1A¶                  5:2.8M                                   Mutual Sharehold… LLC/FA
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