Defiance Nasdaq 100 Weekly Distribution ETF

QQQY seeks to provide current income while also seeking exposure to the performance of the Nasdaq-100 Index. The Fund is actively managed and is designed to generate weekly cash distributions primarily through options premiums. Under normal market conditions, QQQY sells daily credit call spreads on the Nasdaq-100 Index while maintaining long exposure to the Index through investments in Index-tracking ETFs and/or synthetic exposure using options.

The Fund’s options strategy is intended to generate consistent options premiums while defining risk through the use of call spreads rather than uncovered option positions. The structure of the credit call spreads limits the Fund’s participation in index gains up to a defined level, while still allowing for participation in upside performance above the spread cap through its long Index exposure. The Fund has established a target annual cash distribution level of approximately 30% of net asset value, although this target is not guaranteed and does not represent yield or total return. Distributions may vary and may include a return of capital.

Investment Objective

The Fund’s primary investment objective is to seek current income. The Fund’s secondary investment objective is to seek exposure to the performance of the Nasdaq 100 Index (the “Index”).

There is no guarantee that the Fund’s investment strategy will be properly implemented, and an investor may lose some or all of their investment.

¹ While the ETF seeks to provide weekly income, there is no assurance a distribution will be made. If distributions are made, it is likely such distributions will vary greatly from one distribution to the next.

Distribution from QQQY includes the following estimated return of capital per the 10/09/2026 19-a1 Notice: 100.00%. Distributions which include return of capital decrease the Fund’s NAV and trading price which over time can result in losses on an investment.