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Privacy Policy

Last Updated: May 25, 2026

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The following information discloses the privacy policy of MarketDesk Indices LLC. The terms "MarketDesk Indices," "MDI," "us," "we," or "our" refer to MarketDesk Indices LLC. The terms "you" and "your" refer to the user of the Service or viewer of our website (the "Site"). By using our Site, you agree to the collection and use of information in accordance with this policy.

 

Other websites you may access via MDI have different privacy policies and are not subject to this privacy policy. We suggest that you read each of their privacy statements to understand how they protect your personal information.

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We collect only relevant lawful information about you in order to conduct our business in a way to properly service you. Sources of financial and personal information include information (such as your name, address, telephone number, email address, etc.) provided by you through contact and request forms as well as oral, written, or email communication, and limited credit card and bank information obtained from your transactions with us.

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Visiting sections of our Site does not require supplying any personal information, and any personal information supplied is done so on a strictly voluntary basis. Information used to determine your identity is only information provided by you. When you visit the Site, our servers may also collect Site usage information and information about your computer, including your computer's operating system, internet browser type, your computer's IP address, and, if you arrived at our Site via another website, the URL of the linking page. Data collected by MDI is also used to optimize your experience on the Site and to assist in answering questions that you may have about our products and services. MDI DOES NOT SELL YOUR INFORMATION OR USER DATA TO ANYONE. MDI maintains records of our present and prior clients and contacts, including contact information and financial transactions. Once information is provided to us, such as contact information, we may keep such information indefinitely; provided that, upon request by a user, MDI will delete such user's data and information.

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Cookies, Tracking, and Advertising

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A "cookie" is a small string of information that a website stores on a user's device and that the user's browser provides back to the website on subsequent visits. We use cookies and similar tracking technologies to operate the Site, remember user preferences, analyze how the Site is used, and support our advertising.

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Some of these technologies are provided by third-party advertising and analytics partners. We and these partners use cookies and similar identifiers to link Site activity to personal information for the purpose of advertising and retargeting — for example, to show you MarketDesk Indices advertisements on other websites and platforms based on your prior interaction with our Site. This activity may involve sharing certain identifiers and Site-activity information with advertising partners.

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You can manage or refuse cookies through your browser settings, with the understanding that certain features of the Site may not function properly without them. You may also opt out of interest-based advertising from participating companies through industry tools such as the Digital Advertising Alliance (optout.aboutads.info) or the Network Advertising Initiative (optout.networkadvertising.org), and through the ad-settings controls offered by major advertising platforms. Where required by law, we honor opt-out preference signals such as Global Privacy Control (GPC).

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How We Share Information

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We do not disclose any nonpublic personal information about our readers or clients (both present and past) to anyone, except as permitted by law. As the law permits, we may share information about you with third parties who customarily provide services for your accounts in the ordinary course of MDI's business, including MDI's server company and payment-processing company. This information includes, but is not limited to, information provided by you through forms, applications, and oral, written, or email communication; and information derived from your transactions with us such as, but not limited to, amount of payment, method of payment, and user name. When any information is provided to third parties, it is only done so on the condition that such third parties keep your information confidential. We do not sell our subscriber or mailing lists, or any data related to these lists, to any third parties. Information shared with advertising partners is governed by the "Cookies, Tracking, and Advertising" section above.

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Data Security

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The security of your personal information is important to us, but remember that no method of transmission over the Internet, or method of electronic storage, is 100% secure. While we strive to use commercially acceptable means to protect your personal information, we cannot guarantee its absolute security due to the nature of the process.

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Your Privacy Rights

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Depending on where you reside, you may have certain rights regarding the personal information we hold about you. As a matter of policy, MDI extends the following rights to all users of the Site, regardless of location:

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  • The right to request access to the personal information we hold about you;

  • The right to request correction of inaccurate or incomplete personal information;

  • The right to request deletion of your personal information;

  • The right to opt out of marketing communications and interest-based advertising at any time; and

  • The right to be free from discrimination for exercising any of these rights.

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To exercise any of these rights, contact us using the information in the "Contact" section below. We will respond to verifiable requests within the timeframe required by applicable law. We may need to verify your identity before fulfilling a request, and certain information may be retained where retention is required or permitted by law (for example, to meet recordkeeping obligations applicable to a registered investment adviser).

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Notice to California Residents

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If you are a California resident, the California Consumer Privacy Act (CCPA), as amended, provides you with rights regarding your personal information, including the right to know what personal information we collect and how we use it, the right to request deletion or correction of your personal information, and the right to opt out of the "sale" or "sharing" of personal information.

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MDI does not sell your personal information for money. However, our use of third-party advertising cookies for retargeting (described in "Cookies, Tracking, and Advertising" above) may be considered "sharing" of personal information under the CCPA. You have the right to opt out of this sharing. You may do so by adjusting your cookie preferences on the Site, and we honor the Global Privacy Control (GPC) browser signal as a valid opt-out request.

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We do not use or disclose sensitive personal information for purposes that would require an additional opt-out under the CCPA, and we do not discriminate against any user for exercising their privacy rights. California residents may also exercise their rights to know, delete, and correct by contacting us using the information below. We will verify your request as required by law before responding.

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Notice to Users in the European Economic Area and United Kingdom

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If you access the Site from the European Economic Area (EEA) or the United Kingdom, the General Data Protection Regulation (GDPR) or UK GDPR may apply to our processing of your personal data. For purposes of these laws, MarketDesk Indices LLC is the data controller of personal data collected through the Site.

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We process personal data on the following legal bases: your consent (which you may withdraw at any time); the performance of a contract with you; our legitimate interests in operating, securing, and improving the Site and our business; and compliance with legal obligations. In addition to the rights described above, individuals in the EEA and UK have the right to data portability, the right to restrict or object to certain processing, and the right to lodge a complaint with their local data protection supervisory authority. We retain personal data only for as long as necessary for the purposes described in this policy or as required by applicable law. Personal data may be transferred to and processed in the United States; where required, we rely on appropriate safeguards for such transfers.

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Age of Users

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The Site is intended for financial professionals and adults and is not directed to children. We do not knowingly collect personal information from individuals under the age of 16. If you believe we have collected such information, please contact us so that we can delete it.

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Changes to This Privacy Policy

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We may update this privacy policy from time to time to reflect changes in our practices, technology, legal requirements, or other factors. When we make changes, we will revise the "Last Updated" date at the top of this policy. Material changes will be communicated through a prominent notice on the Site or by other appropriate means. We encourage you to review this policy periodically. Your continued use of the Site after any changes take effect constitutes acceptance of the revised policy.

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Contact

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If you have any questions, comments, or concerns about this privacy policy or our data practices, please contact us.

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Important Disclosures

 

This material must be preceded or accompanied by a prospectus. Please read the prospectus carefully before investing. The Funds' investment objectives, risks, charges and expenses must be considered carefully before investing. Click here for the FDIV and FMTM Prospectus and SAI. All fund documents can be found at www.marketdeskindices.com. A free hardcopy of the prospectus may be obtained by calling +1.215.882.9983.


Investments involve risk. Principal loss is possible. Redemptions are limited and often commissions are charged on each trade. Unlike mutual funds, ETFs may trade at a premium or discount to their net asset value.

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Principal Risks

 

An investment in the Fund involves risk, including those described below. There is no assurance the Fund will achieve its investment objective. An investor may lose money by investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency.

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Momentum Risk. Investing in or having exposure to securities with the highest relative momentum entails investing in securities that have had above-average recent returns. These securities may be more volatile than a broad cross- section of securities. Returns on securities that have previously exhibited momentum may be less than returns on other styles of investing or the overall stock market. Momentum can turn quickly and cause significant variation from other types of investments, and stocks that previously exhibited high momentum may not experience continued highest relative momentum. In addition, there may be periods when the momentum style is out of favor, and during which the investment performance of the Fund using a momentum strategy may suffer.

 

Dividend-Paying Common Stock Risk. The Fund will normally receive income from dividends that are paid by issuers of the Fund’s investments. The amount of the dividend payments may vary and depends on performance and decisions of the issuer. Poor performance by the issuer or other factors may cause the issuer to lower or eliminate dividend payments to investors, including the Fund. Additionally, these types of securities may fall out of favor with investors and underperform the broader market.

 

Value-Style Investing Risk. The Sub-Adviser may be wrong in its assessment of a company’s value, and the stocks the Fund owns may not reach what the Sub-Adviser believes are their true values. The market may not favor value-oriented stocks and may not favor equities at all, which may cause the Fund’s relative performance to suffer. Value stocks can perform differently from the market as a whole and from other types of stocks. While certain value stocks may increase in value more quickly during periods of anticipated economic upturn, they may also lose value more quickly in periods of anticipated economic downturn. Furthermore, there is the risk that the factors which caused the depressed valuations are longer term or even permanent in nature, and their valuations may fall or never rise.

 

Quantitative Security Selection Risk. Data for some companies may be less available and/or less current than data for companies in other markets. The Sub-Adviser uses quantitative analysis, and its processes could be adversely affected if erroneous or outdated data is utilized. The securities selected using quantitative analysis could perform differently from the financial markets as a whole as a result of the characteristics used in the analysis, the weight placed on each characteristic and changes in the characteristic’s historical trends. In addition, the investment analysis used in making investment decisions may not adequately consider certain factors, or may contain design flaws or faulty assumptions, any of which may result in a decline in the value of an investment in the Fund.

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Periodic Reallocation Risk. Because the Sub-Adviser will generally reallocate the Fund’s portfolio only on a monthly basis, (i) the Fund’s market exposure may be affected by significant market movements promptly following the monthly reconstitution that are not predictive of the market’s performance for the subsequent monthly period and (ii) changes to the Fund’s market exposure may lag a significant change in the market’s direction (up or down) by as long as a month if such changes first take effect promptly following the monthly reconstitution. Such lags between market performance and changes to the Fund’s exposure may result in significant underperformance relative to the broader equity or fixed income market.
 

Non-Diversification Risk. Because the Fund is non-diversified, it may be more sensitive to economic, business, political or other changes affecting individual issuers or investments than a diversified fund, which may result in greater fluctuation in the value of the Shares and greater risk of loss.
 

Equity Investing Risk. Equity securities, such as common stocks, are subject to market, economic and business risks that may cause their prices to fluctuate.


Sector Risk. Companies with similar characteristics may be grouped together into broad categories called sectors. A certain sector may underperform other sectors or the market as a whole. As the Sub-Adviser allocates more of the Fund’s portfolio holdings to a particular sector, the Fund’s performance will be more susceptible to any economic, business or other developments which generally affect that sector.
 

Management Risk. The Fund is actively-managed and may not meet its investment objective based on the Adviser’s or Sub-Adviser’s success or failure to implement investment strategies for the Fund.
 

New Fund Risk. The Fund is a recently organized investment company with no operating history. As a result, prospective investors have no track record or history on which to base their investment decision. There can be no assurance that the Fund will grow to or maintain an economically viable size.

 

Premium-Discount Risk. The Shares may trade above or below their NAV. The NAV of the Fund will generally fluctuate with changes in the market value of the Fund’s holdings. The market prices of Shares, however, will generally fluctuate in accordance with changes in NAV as well as the relative supply of, and demand for, Shares on the Exchange and other securities exchanges. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for Fund Shares (including through a trading halt), among other factors, may result in the Shares trading significantly above (at a premium) or below (at a discount) to NAV. If you buy Fund Shares when their market price is at a premium or sell the Fund Shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively. The Adviser cannot predict whether Shares will trade below, at or above their NAV. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for Shares will be closely related to, but not identical to, the same forces influencing the prices of the securities held by the Fund. However, given that Shares can be purchased and redeemed in large blocks of Shares, called Creation Units (unlike shares of closed-end funds, which frequently trade at appreciable discounts from, and sometimes at premiums to, their NAV), and the Fund’s portfolio holdings are fully disclosed on a daily basis, the Adviser believes that large discounts or premiums to the NAV of Shares should not be sustained, but that may not be the case.

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

©  MarketDesk Indices LLC – All Rights Reserved

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