FUND PERFORMANCE

QUARTER-END | MONTH-END

 

Quarter-End As of TBD

	1 MONTH	3 MONTHS	YTD	1-YR	SINCE INCEPTION (3/6/2024)
MVFG | NAV
MVFG | MARKET PRICE*

Month-End As of TBD

	1 MONTH	3 MONTHS	YTD	1-YR	SINCE INCEPTION (3/6/2024)
MVFG | NAV
MVFG | MARKET PRICE*

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares when redeemed may be worth more or less than the original cost. For the Fund’s most recent month end performance, please visit www.monarchfunds.com or call toll-free at 541-291-4405.

Without waivers, total annual operating expenses would be 1.80%. The Fund’s investment adviser has contractually agreed to reduce its fees and/or absorb expenses until at least February 28, 2025 to ensure that net annual operating expenses will not exceed 1.59%, subject to possible recoupment from the Fund in future years. * The Market Price represents the fund’s closing price through the “As Of” dates listed above.

PREMIUM/DISCOUNT DATA (AS OF TBD)

TOP 10 HOLDINGS (AS OF TBD)

Name	Ticker	Market Price	Shares Held	Market Value	Weight

Holdings are subject to change. Portfolio holdings should not be considered as investment advice or a recommendation to buy, sell or hold any particular security. The securities identified do not represent all of the securities purchased, sold or recommended for client accounts. It should not be assumed that an investment in the securities identified was or will be profitable.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Monarch Volume Factor Global Unconstrained Index ETF. This and other important information about the Fund is contained in the prospectus, which can be obtained at www.monarchfunds.com or by calling toll-free at 541-291-4405. The prospectus should be read carefully before investing. The Monarch Volume Factor Global Unconstrained Index ETF is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Kingsview Wealth Management, LLC and Penserra Capital Management, LLC are not affiliated with Northern Lights Distributors, LLC.

The Fund is new with limited operating history. Past performance does not guarantee future results. The Fund’s net asset value and investment return will fluctuate based upon changes in the value of its portfolio securities. There is no assurance that the Fund will achieve its investment objective, and an investment in the Fund is not by itself a complete or balanced investment program. For a complete description of the Fund’s principal investment risks please refer to the prospectus.

The Fund seeks positive absolute returns. Fund holdings may fluctuate in value in response to the activities of individual companies and general market and economic conditions. While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns. There is no guarantee that the Fund will achieve its objective.

While the Underlying ETFs seek to provide certain investment outcomes, there is no guarantee that they will successfully do so. Because the Fund’s value is based on the value of the Underlying ETFs, the Fund’s investment performance largely depends on the investment performance and associated risks of the Underlying ETFs. The Underlying ETFs are subject to many of the same structural risks as the Fund that are described in more detail herein, such as ETF Structure Risk, Passive Investment Risk and Tracking Error Risk.

The Fund may have significant exposure to a limited number of issuers conducting business in the same sector or group of sectors. Market conditions, interest rates, and economic, regulatory, or financial developments could significantly affect a single sector or a group of sectors, and the securities of companies in that sector or group of sectors could react similarly to these or other developments.

NOT A DEPOSIT | NOT FDIC INSURED | MAY LOSE VALUE | NOT GUARANTEED BY THE BANK | NOT INSURED BY ANY GOVERNMENT AGENCY