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Terms of Use

Last Updated: May 25, 2026

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Terms & Conditions

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By using this website (the "Site"), you are agreeing to comply with and be bound by the following terms and conditions. If you do not agree to these terms and conditions, you may not use this Site. The terms "MarketDesk Indices," "MDI," "us," "we," or "our" refer to MarketDesk Indices LLC. The term "Service" includes, but is not limited to, the text, data, graphics, charts, and other content produced by MDI and appearing on the Site. The terms "you" and "your" refer to the user of the Service or viewer of this Site.

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Eligibility

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By using the Site, you affirm that you are at least 18 years of age and are fully able and competent to enter into, and to abide by and comply with, these Terms of Use. The Site is intended for financial professionals and other adult users and is not directed to children.

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Website Terms of Use

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When accessing this Site, you agree and acknowledge that the Service represents "intellectual property" of, and is proprietary to, MDI, and that access to this Site does not transfer any copyright or license to you in any way, except as detailed in a written agreement between you or your business entity and MDI. Unless otherwise provided in a written agreement, and provided that appropriate references are made to the copyright of MDI, the Service may not be used, copied, or distributed. You will not reverse engineer, decrypt, decompile, disassemble, or create derivative works from any part of the Service. All unauthorized reproduction or other use of MDI's materials (including the Service) could be deemed willful infringement(s) of MDI's copyright and other proprietary and intellectual property rights.

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You may not attempt to gain unauthorized access to any portion or feature of the Site, or any other systems or networks connected to the Site or to MDI's server, or to any of the services offered on or through the Site, by hacking, password "mining," or any other illegitimate means.

You may not probe, scan, or test the vulnerability of the Site or any network connected to the Site, nor breach the security or authentication measures on the Site or any network connected to the Site. You may not reverse look-up, trace, or seek to trace any information on any other user of or visitor to the Site to its source, or exploit the Site or any service or information made available or offered by or through the Site, in any way where the purpose is to reveal any information, including but not limited to personal identification or information, other than your own information, as provided for by the Site.

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You agree that you will not take any action that imposes an unreasonable or disproportionately large load on the infrastructure of the Site or MDI's systems or networks, or any systems or networks connected to the Site or to MDI.

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You agree not to use any device, software, or routine to interfere or attempt to interfere with the proper working of the Site or with any other person's use of the Site.

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Copyright Statement

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The works of authorship herein, including but not limited to all data, design, text, images, and charts or other data compilations or collective works, are owned, except as otherwise expressly stated, by MDI or one of our data providers, and may not be copied, reproduced, transmitted, displayed, performed, distributed, rented, sublicensed, altered, stored for subsequent use, or otherwise used in whole or in part in any manner without the prior written consent of MDI. The Site and the Service are also protected as collective works or compilations under U.S. copyright and other laws and treaties. All individual articles, columns, and other elements making up the Site or the Service are also copyrighted works. You agree to abide by all additional copyright notices or restrictions contained in the Site or the Service.

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Trademarks

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"MarketDesk" and related names, logos, and index names are trademarks or service marks of MarketDesk Indices LLC or its affiliates and are proprietary as such. Other marks appearing on the Site are the property of their respective owners.

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Important Notices & Disclaimer

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MarketDesk Indices LLC is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration with the SEC does not imply any certain level of skill or training. MarketDesk Indices LLC files an integrated Form ADV together with its affiliate, MarketDesk Research LLC.

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The content on this Site is for informational and educational purposes only. It is not investment, legal, tax, or accounting advice, and it is not a recommendation to buy, sell, or hold any security or to adopt any investment strategy. Nothing on this Site constitutes an offer or solicitation to buy or sell any financial instrument.

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MarketDesk Indices serves as the discretionary sub-adviser to, and a sponsor of, the MarketDesk Focused U.S. Momentum ETF (FMTM) and the MarketDesk Focused U.S. Dividend ETF (FDIV). MarketDesk Indices does not provide personalized investment advice to visitors of this Site or to individual shareholders of the ETFs. An investor should consider the investment objectives, risks, charges, and expenses of an ETF carefully before investing; this and other information is contained in each ETF's prospectus, which should be read carefully before investing.

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The content on this Site is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification, and there is no guarantee that any future event discussed herein will come to pass. MarketDesk Indices disclaims responsibility for updating information, and disclaims responsibility for third-party content, including information accessed through hyperlinks.

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Past performance does not guarantee or indicate future results. Index performance is for illustrative purposes only and does not reflect any management fees, transaction costs, or expenses. Indexes are unmanaged and one cannot invest directly in an index. Index performance does not represent the actual performance that would be achieved by investing in a fund. Hypothetical and back-tested performance has inherent limitations and does not represent actual trading.

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No mention of a particular security, index, or other instrument on this Site constitutes a recommendation to buy, sell, or hold that or any other security, nor does it constitute an opinion on the suitability of any security or index. INVESTING INVOLVES RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL AND FLUCTUATION OF VALUE.

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Links

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Although the Site may link to or promote others' websites or services from time to time, MDI is not responsible for and does not control those websites or services. The inclusion of any link does not imply endorsement, authorization, sponsorship, or affiliation by MDI with respect to that site or its owners.

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Viruses

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While every effort is made to ensure that any files and/or software provided on this Site are suitable for use on a wide variety of computer systems, you should take reasonable and appropriate precautions to scan for computer viruses and ensure compatibility of the files and/or software with your specific computer system.

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Disclaimer of Warranties; Limitation of Liability

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The Site and the Service are provided on an "as is" and "as available" basis, without warranties of any kind, either express or implied. To the fullest extent permitted by law, MDI disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, and non-infringement. To the fullest extent permitted by law, MDI and its affiliates, officers, directors, employees, and agents will not be liable for any direct, indirect, incidental, consequential, special, or punitive damages arising out of or relating to your use of, or inability to use, the Site or the Service.

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Indemnification

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You agree to indemnify and hold harmless MarketDesk Indices LLC and its affiliates, officers, directors, employees, agents, and licensors from and against any and all claims, damages, obligations, losses, liabilities, costs, and expenses (including but not limited to reasonable attorneys' fees) arising from or relating to: (i) your use of and access to the Site; (ii) your violation of any term of these Terms of Use; or (iii) your violation of any third-party right, including without limitation any copyright, property, or privacy right. This defense and indemnification obligation will survive termination of these Terms of Use and discontinuance of your use of the Site.

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Termination

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Your permission to access the Site under these Terms of Use will immediately terminate if you fail to comply with any term or condition. MDI may, in its sole discretion and with or without notice, suspend or terminate your access to all or any portion of the Site, and may discontinue providing the Site, with or without notice. You agree that MDI will not be liable to you or any third party for any such suspension, termination, or discontinuance.

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Miscellaneous

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The Site or the Service may be temporarily unavailable from time to time due to required maintenance, telecommunications interruptions, or other disruptions. Although MDI makes every reasonable effort to minimize such downtime, MDI does not guarantee full availability of the Site or the Service.

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The Site is controlled and operated by MDI from the United States. MDI makes no representation that the Site is appropriate or available for use in other jurisdictions. Those who access the Site from other jurisdictions do so on their own initiative and are responsible for compliance with applicable local law.

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These Terms of Use are governed by the laws of the State of Missouri, without regard to its conflict-of-laws principles. We may revise these Terms of Use from time to time; the "Last Updated" date above reflects the most recent changes, and your continued use of the Site after changes are posted constitutes acceptance of the revised terms.

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Entire Agreement; Severability

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These Terms of Use, together with the Privacy Policy and any other legal notices published by MDI on the Site, constitute the entire agreement between you and MDI concerning the Site, and supersede any prior agreements on that subject. If any provision of these Terms of Use is held invalid or unenforceable by a court of competent jurisdiction, the invalidity of that provision will not affect the validity of the remaining provisions, which will remain in full force and effect.

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No Waiver

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No waiver of any provision of these Terms of Use will be deemed a further or continuing waiver of that provision or any other provision, and MDI's failure to assert any right under these Terms of Use will not constitute a waiver of that right. You and MDI agree that any cause of action arising out of or related to the Site must commence within one (1) year after the cause of action accrues; otherwise, such cause of action is permanently barred.

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Privacy

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Your use of the Site is also governed by our Privacy Policy, which describes how we collect, use, and protect information. Please review it to understand our data practices.

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Contact

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If you have any questions, comments, or concerns, 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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