As of 9/30/14InfraCap MLP ETF

INVESTMENT OBJECTIVEThe InfraCap MLP ETF (the “Fund”) seeks total return to shareholders through capital appreciation, a high level of current income, and steady growth in the income stream.

FUND DESCRIPTIONThe Fund is an actively managed exchange-traded fund invested in the US midstream energy infrastructure sector. The Fund invests in equity securities of publicly-traded master limited partnerships and limited liability companies taxed as partnerships (“MLPs”) as well as related general partners.

These companies are principally involved in the gathering, processing, transportation, and storage of crude oil, natural gas, natural gas liquids, and refined products. These volume based, ‘toll-road’ businesses typically generate and distribute substantial cash flow to their owners and represent a largely commodity insensitive investment in the domestic energy revolution.

Tax features of the Fund include 1099 tax reporting (no K-1s), qualified dividend potential, and quarterly income distributions. The fund is eligible for ownership in IRAs, in 401Ks, and by foreign investors.

INVESTMENT STRATEGYThe fund is structured to leverage the benefits of active management and proprietary internal research. Weightings are based on estimated total return and company fundamentals instead of market capitalization.

INVESTMENT MANAGEMENTThe Fund is actively-managed and is sub-advised by Infrastructure Capital Advisors, LLC, an SEC-registered investment advisor formed in 2012 and based in New York City. The company seeks total-return opportunities in key infrastructure sectors including energy, real estate, transportation, industrials, and utilities.

The Fund’s Portfolio Manager, Jay D. Hatfield, has served as portfolio manager for the Fund since the inception of the Fund’s operations and is primarily responsible for the day-to-day management of the Fund. Mr. Hatfield has extensive experience advising and investing in domestic energy infrastructure companies. His background as a co-founder and general partner of a NYSE-listed MLP, a hedge fund manager focused on the energy and utility sectors, and a Morgan Stanley utility and energy infrastructure investment banker provides him a unique perspective on the fund's target investment universe.

FUND INFORMATION

Inception Date 10/1/2014

Ticker Symbol AMZA

CUSIP 26923G103

Listing Exchange NYSE Arca

Total Expenses 0.95%

IOPV Symbol AMZA.IV

NAV Symbol AMZA.NV

IOPV, or Indicative Optimized Portfolio Value, is a calculation disseminated by the stock exchange that approximates the Fund’s NAV every fifteen seconds throughout the trading day.

TOP 10 HOLDINGS

Kinder Morgan Energy Prtnrs 9.4%

Markwest Energy Partners 7.5%

Magellan Midstream Partners 7.1%

Plain All Amer Pipeline LP 6.8%

Enterprise Products Partners 6.4%

Energy Transfer Partners LP 5.9%

Buckeye Partners LP 5.7%

Access Midstream Partners LP 5.1%

Sunoco Logistics Partners LP 4.5%

Targa Resources Partners LP 3.6%

FUND MANAGEMENT

Adviser Etfis Capital LLC

Sub-Adviser Infrastructure Capital Advisors, LLC

Distributor ETF Distributors LLC

Custodian BNY Mellon

© 2014 ETF Distributors LLC. All rights reserved.

As of 9/30/14

You should consider the fund’s investment objectives, risks, and charges and expenses carefully before investing. Contact ETF Distributors LLC at 1-888-383-4184 or visit www.infracapmlp.com to obtain a prospectus which contains this and other information about the fund. The prospectus should be read carefully before investing.

An investment in the Fund is subject to investment risks; therefore you may lose money by investing in the Fund. There can be no assurance that the Fund will be successful in meeting its investment objective. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility.

The fund is subject to management risk because it is an actively managed portfolio. In managing the fund's investment portfolio, the sub-adviser will apply investment techniques and risk analyses that may not have the desired result. There can be no guarantee that the fund will meet its investment objectives.

Investments in securities of MLPs involve risks that differ from investments in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP, risks related to potential conflicts of interest between the MLP and the MLP’s general partner and cash flow risks. MLP common units and other equity securities can be affected by macro-economic and other factors affecting the stock market in general, expectations of interest rates, investor sentiment towards MLPs or the energy sector, changes in a particular issuer’s financial condition or unfavorable or unanticipated poor performance of a particular issuer (in the case of MLPs, generally measured in terms of distributable cash flow). Prices of common units of individual MLPs and other equity securities also can be affected by fundamentals unique to the partnership or company, including earnings power and coverage ratios.

The Fund invests primarily in energy infrastructure companies. Energy infrastructure companies are subject to risks specific to the industry they serve including, but not limited to: reduced volumes of natural gas or other energy commodities available for transporting, processing or storing; new construction risks and acquisition risk which can limit growth potential; a sustained reduced demand for crude oil, natural gas and refined petroleum products resulting from a recession or an increase in market price or higher taxes; changes in the regulatory environment; extreme weather; rising interest rates which could result in a higher cost of capital and drive investors into other investment opportunities; and threats of attack by terrorists.

A fund concentrated in a single industry or sector, such as the energy infrastructure sector, is likely to present more risks than a fund that is broadly diversified over several industries or sectors. Compared to the broad market, an individual industry or sector may be more strongly affected by changes in the economic climate, broad market shifts, moves in a particular dominant stock or regulatory changes. Because the Fund focuses on investing in MLPs in the energy infrastructure sector, adverse events or economic changes that disproportionately affect the energy sector as a whole or parts thereof will have an adverse effect on the Fund.

The Fund is taxed as a corporation for federal income tax purposes. This differs from most investment companies, which elect to be treated as “regulated investment companies” under the Code in order to avoid paying entity level income taxes.

Etfis Capital LLC serves as the investment advisor and Infrastructure Capital Advisors, LLC serves as the sub-advisor to the fund. The Fund is distributed by ETF Distributors LLC, an affiliate of Etfis Capital LLC.

InfraCap MLP ETF

Past performance is not a guarantee of future results and current performance may be higher or lower than performance quoted. The fund is new and does not have a performance history. Investment returns and principal value will fluctuate and shares when sold or redeemed may be worth more or less than their original cost. You can obtain performance information which is current through the most recent month-end by visiting infracapmlp.com.

The fund is new and does not have a performance history.

Quarter EndPerformance

FundPerformance

NAV

Market Price

Quarter YTD 1 Yr. 3 Yr. 5 Yr. 10 Yr. SinceInception

Not FDIC Insured | Not Bank Guaranteed | May Lose Value