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TTAI - TTAM Advisors
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TTAI

FCF International Quality ETF

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Fund Info

EXCHANGE: Cboe BZX Exchange, Inc.
TICKER: TTAI
CUSIP: 89628W401
INCEPTION DATE: June 28, 2017
NAV SYMBOL: TTAI.NV
NET ASSETS AS OF $75,528,636.00
SHARES OUTSTANDING 2,325,000
CLOSING PRICE $32.46
NAV $32.49
PREMIUM/DISCOUNT -0.02%
GROSS/NET EXPENSE RATIO 0.61%
30-DAY SEC YIELD AS OF 02/28/2022** 2.38%
Median 30 Day Bid/Ask Spread 0.07
  • Above Average Morningstar Sustainability Rating™

The Morningstar Sustainability Rating™ is based on 100% of AUM out of a universe of 7,206 Global Equity Large Cap Funds as of 11/31/2021. AUM and Fund Universe information only applies to the sustainability rating.

Investor Materials

Fact Sheet
Form ADV
Prospectus
Summary Prospectus
SAI
Tax Information
Annual Report
Semi-Annual Report

Investment Objective

The FCF International Quality ETF (TTAI) seeks to generate long-term returns in excess of the total return of the S&P Developed ex-U.S. Broad Market Index , with similar volatility.

Why TTAI?

Our research has shown that strong Free Cash Flow is a better indicator of high‐quality companies. TTAI utilizes a transparent quantitative investment process, offering investors quality International equity exposure, along with the goal of achieving alpha.

  • Exposure to international stocks with strong free cash flow characteristics

  • Access to “high quality” companies identified by proprietary free cash flow research

  • Aims to generate excess return with manageable risk over the S&P Developed Ex-U.S. BMI NTR Index

  • Disciplined and consistent active management process driven by quantitative models

  • ESG integration for “high quality” consideration beyond company fundamentals

Where does TTAI fit into a portfolio?

Quality International Ex-US Exposure: TTAI offers quality core international equity exposure utilizing our decades of proprietary research, which has shown that strong Free Cash Flow is the best indicator of high‐quality companies. When Paired with TTAC, Global Equity

Exposure: TTAI targets a similar level of volatility as the major developed Ex‐US market averages, while offering core equity exposure across a range of countries, sectors, and economies.

Alpha Sleeve: Our strategy seeks to deliver alpha, or positive asymmetric returns, beyond the major developed Ex‐US market averages.

ESG: TTAI has tended to rank very well on an ESG scale. We believe that companies with strong Free Cash Flow and cushions of cash have greater fiscal flexibility to pursue environmental, social and governance (ESG) goals.

NAV and Market Price

FCF International Quality ETF

As of

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Market Price

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Performance

QUARTER END PERFORMANCE (As of 12/31/2021)
  Quarter 1 Yr 2 Yr 3 Yr Annualized
Since Inception
06/27/2017 - 12/31/2021
Fund Performance          
Market Price 5.71% 16.87% 17.58% 19.84% 10.15%
NAV 5.46% 17.03% 17.93% 19.93% 10.23%
S&P Developed Ex-US BMI TR 2.13% 10.87% 10.73% 14.40% 7.88%

Expense Ratio: 0.61%. The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will uctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. Performance current to the most recent month-end can be obtained by calling (toll free 800-617-0004).

Top 10 Holdings

Top 10 Holdings (As of )

Premium Discount

FCF International Quality ETF

January 02, 2020 to Decemeber 31, 2021

Calender Year 2020 Calendar Year 2021 through Decemeber 31, 2021

Days Traded at premium

133

136

Days Traded at net asset value

0

1

Days Traded at discount

120

115

The Following Table and line graph are provided to show the frequency at which the closing price of the fund was at a premium (above) or discount (below) to the Funds daily net asset value ("NAV"). The table and line graph represent post performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund share and receive less than NAV when those shares are sold because share are bought and sold at current market prices.

Distribution


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DISTRIBUTION DETAIL
EX- Date Record Date Payable Date Amount
12/28/201712/29/201701/02/2018$0.07160616
12/28/201812/31/201801/02/2019$0.20479334
12/30/201912/31/201901/02/2020 $0.51465475
12/30/202012/31/202001/04/2020$0.20292472
12/30/202112/31/202101/03/2022 $0.73352044

TTAI

Investing involves risk. Principal loss is possible.

Quasar Distributors, LLC

Holdings are subject to change and should not be considered a recommendation to buy or sell any security.

**The 30-Day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days.

The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and important information about the investment company, and it may be obtained by calling 800-617-0004. Read it carefully before investing.

There is no guarantee that TTAI will achieve its investment objective. Investing involves risk, including the possible loss of principal. Because the Fund is an ETF (rather than a mutual fund), shares are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemable. Owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Unit aggregations only, consisting of 25,000 shares. Brokerage commissions will reduce returns. Investments in the Fund include risks associated with small-and mid-cap securities, which involve limited liquidity and greater volatility than large-cap securities. Returns on investments in foreign securities could be more volatile than investments in domestic securities (TTAC).The evaluation of ESG ratings may affect the Fund’s exposure to certain issuers or industries and may not work as intended. There is no guarantee that screening the Fund’s portfolio or individual securities based on their ESG ratings will increase the Fund’s performance.

The S&P Developed Ex-U.S. BMI Index is a market capitalization weighted index that defines and measures the investable universe of publicly traded companies domiciled in developed countries outside the U.S. The Developed Index is float adjusted, meaning that only those shares publicly available to investors are included in the Developed Index calculation. It is not possible to invest directly in an index.

Free Cash Flow (FCF) represents the cash that a company is able to generate after accounting for capital expenditures.

Alpha is a measure of performance on a risk-adjusted basis.

Opinions expressed are subject to change, are not guaranteed, and should not be considered investment advice.

Market Price: The current price at which shares are bought and sold. Market returns are based upon last trade price. NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

Morningstar Sustainability Rating disclosure information:

The Morningstar Sustainability Rating™ is intended to measure how well the issuing companies of the securities within a fund’s portfolio holdings are
managing their financially material environmental, social and governance, or ESG, risks relative to the fund’s Morningstar Global Category peers.
The Morningstar Sustainability Rating calculation is a five‐step process. First, each fund with at least 67% of assets covered by a companylevel ESG Risk Score
from Sustainalytics receives a Morningstar Portfolio Sustainability Score. The Morningstar Portfolio Sustainability Score is an asset‐weighted average of
company‐level ESG Risk Scores. The Portfolio Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more
of its assets invested in companies with high ESG Risk. Second, the Historical Sustainability Score is an exponential weighted moving average of the
Portfolio Sustainability Scores over the past 12 months. The process rescales the current Portfolio Sustainability Score to reflect the consistency of the
scores. The Historical Sustainability Score ranges between 0 to 100, with a higher score indicating that a fund has, on average, more of its assets invested in
companies with high ESG Risk, on a consistent historical basis. Third, the Morningstar Sustainability Rating is then assigned to all scored funds within
Morningstar Global Categories in which at least thirty (30) funds receive a Historical Sustainability Score and is determined by each fund’s Morningstar
Sustainability Rating Score rank within the following distribution:
• High (highest 10%)
• Above Average (next 22.5%)
• Average (next 35%)
• Below Average (next 22.5%)
• Low(lowest 10%)
Fourth, then Morningstar applies a 1% rating buffer from the previous month to increase rating stability. This means a fund must move 1% beyond the rating
breakpoint to change ratings. Fifth, they adjust downward positive Sustainability Ratings to funds with high ESG Risk scores. The logic is as follows:
• If Portfolio Sustainability score is above 40, then the fund receives a Low Sustainability Rating.
• If Portfolio Sustainability score is above 35 and preliminary rating is Average or better, then the fund is downgraded to Below Average.
• If the Portfolio Sustainability score is above 30 and preliminary rating is Above Average, then the fund is downgraded to Average.
• If the Portfolio Sustainability score is below 30, then no adjustment is made.
The Morningstar Sustainability Rating is depicted by globe icons where High equals 5 globes and Low equals 1 globe. Since a Sustainability Rating is assigned
to all funds that meet the above criteria, the rating it is not limited to funds with explicit sustainable or responsible investment mandates.
Morningstar updates its Sustainability Ratings monthly. The Portfolio Sustainability Score is calculated when Morningstar receives a new portfolio. Then, the
Historical Sustainability Score and the Sustainability Rating is calculated one month and six business days after the reported as‐of date of the most recent
portfolio. As part of the evaluation process, Morningstar uses Sustainalytics’ ESG scores from the same month as the portfolio as‐of date. Please visit http://
corporate1.morningstar.com/SustainableInvesting/ for more detailed information about the Morningstar Sustainability Rating methodology and calculation
frequency. Sustainalytics is an independent ESG and corporate governance research, ratings, and analysis firm. Morningstar, Inc. holds a noncontrolling
ownership interest in Sustainalytics.
©2020 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be
copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any
damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Source: Morningstar