TDSC

TDSC is an actively managed fund-of-funds that shifts its allocation based on economic conditions and market outlook for five broad asset classes: equities, fixed income, real estate, currencies, and commodities. Equities include both domestic and foreign companies, including emerging markets. Fixed income securities have no restrictions in maturity, quality or duration. The sub-adviser utilizes a proprietary algorithm that combines fundamental economic and technical price data to identify assets that appear to be attractive based on the current business cycle. The portfolio is monitored and potentially adjusted daily to maintain a target drawdown of 10% during adverse market conditions. The drawdown is based on month-end data measured against the funds' most recent peak. There is no assurance the fund can maintain this target drawdown. On January 8, 2024, the fund acquired all assets and liabilities of Cabana Target Drawdown 13 ETF (ticker: TDSD) and Cabana Target Drawdown 16 ETF (ticker: TDSE), which had $68 million and $44 million in assets, respectively.