Strategas Asset Management

FACTS	WHAT DOES STRATEGAS DO WITH YOUR PERSONAL INFORMATION?
Why?	Financial companies like Strategas Securities, LLC or Strategas Asset Management, LLC (collectively “Strategas”) choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?	When we refer to “personal information” we mean any data relating to an identified or identifiable individual. This could include information that could identify an individual, directly or indirectly, in particular, by reference to an identifier such as a name, ID number, location data or online identifier. It also includes factors specific to an individual’s characteristics. The types of personal information Strategas collects and shares depends on the product or service you have with Strategas. This information can include: Name, address, phone numbers, email, business title and functional role Social Security number and/or driver’s license, passport or other government ID number Date of birth Employment information, account balances, and transaction history Income and assets IP address (In connection with your use of Strategas’ website or mobile application) Mobile application usage (limited to date and time of last sign on) OS version (in connection with mobile application only) When you are no longer a Strategas customer, we continue to share your information as described in this notice.
How?	All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Strategas chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does Strategas share?	Can you limit this sharing?
For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders, legal investigations, or regulatory inquiries	Yes	No
For our marketing purposes — to offer our products and services to you	Yes	No
For joint marketing with other financial companies	No	N/A
For our affiliates’ everyday business purposes — information about your experiences	Yes	No
For our affiliates’ everyday business purposes — information about your creditworthiness	No	N/A
For our affiliates to market to you	No	N/A
For nonaffiliates to market to you	No	N/A

Questions?	Call 212-906-0130 or go to strategasetfs.com or strategasasset.com

Who we are
Who is providing this notice?	Strategas Securities, LLC and Strategas Asset Management, LLC

What we do
How does Strategas protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings.
How does Strategas collect my personal information?	We collect your personal information during the course of your dealings with us. For example, we collect your personal information when you: enter into an agreement with us to receive services (e.g., to manage your investment account or to obtain research) provide us your contact information use Strategas’ websites or Strategas Securities, LLC’s mobile application We also collect your personal information from affiliates or other companies such as custodians, credit bureaus, LinkedIn or other publicly available sources. We combine information about you from various sources, including the information that you have provided to us directly.
Why can’t I limit all sharing?	Federal law gives you the right to limit only: sharing for affiliates’ everyday business purposes—information about your creditworthiness affiliates from using your information to market to you sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See “Other Important Information” below for more on your rights under state law.
What happens when I limit sharing for an account I hold jointly with someone else?	Your choices will apply to everyone on your account.

Definitions
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies. Our affiliates include Baird Financial Group, Inc., Baird Financial Corporation, Robert W. Baird & Co. Incorporated, Baird Trust Company, Robert W. Baird Group Limited, Robert W. Baird GmbH, and Baird Funds, Inc.
Nonaffiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies. Nonaffiliates with whom Strategas shares your information for the reasons identified above include: service providers that provide services on Strategas’ behalf, including IT service providers; legal and other professional advisors and auditors; regulators and law enforcement agencies.
Joint marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you. Strategas does not have any joint marketing partners.

Other Important Information
For Nevada residents only. We are providing you this notice pursuant to state law. Nevada law requires that we also provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington Street, Suite 3900, Las Vegas, NV 89101; Phone number: (702) 486-3132; e-mail: BCPlNFO@ag.state.nv.us. Strategas Securities, LLC, and Strategas Asset Management, LLC (“Strategas”) 52 Vanderbilt Ave, New York, NY 10017; Phone Number 212-906-0131; e-mail: Click on “Contact Us” in the lower left corner at www.strategasasset.com or www.strategasrp.com, as applicable. Vermont: In accordance with Vermont law, we will not share information we collect about Vermont residents with companies outside of our corporate family, except as permitted by law, such as with your consent, to service your accounts or to other financial institutions with which we have joint marketing agreements. We will not share information about your creditworthiness within our corporate family except with your authorization or consent, but we may share information about our transactions or experiences with you within our corporate family without your consent. California: In accordance with California law, we will not disclose information we collect about you with companies outside of Strategas, unless the law allows. For example, we may disclose information, to service your accounts, or to provide rewards or benefits you are entitled to. We will limit disclosures among our companies to the extent required by California law. We collect personally identifiable information from online customers when those customers use Strategas’ websites and/or online services (including Strategas Securities, LLC’s mobile application). This information includes, but is not limited to, customer names and e-mail addresses. Strategas also does not disclose personally identifiable information with third-party persons or entities unless authorized by the customer or permitted by applicable law. If Strategas Securities, LLC’s online customers wish to change the contents of the personally identifiable information previously supplied to Strategas, those customers may do so by contacting us and requesting the change. Alternatively, some websites and online services offered by Strategas permit customers to change the contents of their personally identifiable information online. We are aware that some internet browsers have incorporated Do Not Track (“DNT”) features. Most of these features, when turned on, send a signal or preference to the websites you visit indicating that you do not wish to be tracked. Strategas does not currently respond to DNT signals, whether on its websites or other online services. Strategas does not allow other parties to collect personally identifiable information about its online customers’ individual online activities over time or across different websites for such party’s own use. Strategas cannot, however, guarantee protection from web-based criminal conduct that could result in the collection of an online customer’s personally identifiable information by an outside party. Please refer to https://www.strategasrp.com/Disclosures#cpn for additional information specific to the California Consumer Privacy Act of 2018, as amended, as it relates to personal information collected or processed by Strategas Securities, LLC. Retention period: Strategas will only hold your personal information for as long as required to undertake the purposes of our processing, plus a prescribed period of time as required by laws in your jurisdiction. Strategas may change this privacy notice at any time, and any changes or updates will be effective immediately on the date of posting. For a current version, please visit www.strategasetfs.com/disclosures or www.strategasasset.com/Disclosures/Index or www.strategasrp.com/Disclosures

Other Important Information

For Nevada residents only. We are providing you this notice pursuant to state law. Nevada law requires that we also provide you with the following contact information: Bureau of Consumer Protection, Office of the Nevada Attorney General, 555 E. Washington Street, Suite 3900, Las Vegas, NV 89101; Phone number: (702) 486-3132; e-mail: BCPlNFO@ag.state.nv.us. Strategas Securities, LLC, and Strategas Asset Management, LLC (“Strategas”) 52 Vanderbilt Ave, New York, NY 10017; Phone Number 212-906-0131; e-mail: Click on “Contact Us” in the lower left corner at www.strategasasset.com or www.strategasrp.com, as applicable.

Vermont: In accordance with Vermont law, we will not share information we collect about Vermont residents with companies outside of our corporate family, except as permitted by law, such as with your consent, to service your accounts or to other financial institutions with which we have joint marketing agreements. We will not share information about your creditworthiness within our corporate family except with your authorization or consent, but we may share information about our transactions or experiences with you within our corporate family without your consent.

California: In accordance with California law, we will not disclose information we collect about you with companies outside of Strategas, unless the law allows. For example, we may disclose information, to service your accounts, or to provide rewards or benefits you are entitled to. We will limit disclosures among our companies to the extent required by California law. We collect personally identifiable information from online customers when those customers use Strategas’ websites and/or online services (including Strategas Securities, LLC’s mobile application). This information includes, but is not limited to, customer names and e-mail addresses. Strategas also does not disclose personally identifiable information with third-party persons or entities unless authorized by the customer or permitted by applicable law. If Strategas Securities, LLC’s online customers wish to change the contents of the personally identifiable information previously supplied to Strategas, those customers may do so by contacting us and requesting the change. Alternatively, some websites and online services offered by Strategas permit customers to change the contents of their personally identifiable information online. We are aware that some internet browsers have incorporated Do Not Track (“DNT”) features. Most of these features, when turned on, send a signal or preference to the websites you visit indicating that you do not wish to be tracked. Strategas does not currently respond to DNT signals, whether on its websites or other online services. Strategas does not allow other parties to collect personally identifiable information about its online customers’ individual online activities over time or across different websites for such party’s own use. Strategas cannot, however, guarantee protection from web-based criminal conduct that could result in the collection of an online customer’s personally identifiable information by an outside party. Please refer to https://www.strategasrp.com/Disclosures#cpn for additional information specific to the California Consumer Privacy Act of 2018, as amended, as it relates to personal information collected or processed by Strategas Securities, LLC.

Retention period: Strategas will only hold your personal information for as long as required to undertake the purposes of our processing, plus a prescribed period of time as required by laws in your jurisdiction.

Strategas may change this privacy notice at any time, and any changes or updates will be effective immediately on the date of posting. For a current version, please visit www.strategasetfs.com/disclosures or www.strategasasset.com/Disclosures/Index or www.strategasrp.com/Disclosures

Carefully consider each of the Funds' investment objectives, risk, and charges and expenses. This and other information can be found in the Funds' summary or full prospectus which can be obtained by calling (855) 273-7227 or by visiting strategasetfs.com. Please read the prospectus, carefully before investing.

Strategas Asset Management, LLC serves as the investment advisor for each Fund and Vident Advisory, LLC serves as a sub advisor to each Fund. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Strategas Asset Management, LLC or any of its affiliates, or Vident Advisory, LLC or any of its affiliates.

Shares of any ETF are generally bought and sold at market price (not NAV) and are not individually redeemed from the fund. Brokerage commissions will reduce returns.

An investment in the Fund involves risk, including possible loss of principal.

In addition to the normal risks associated with investing, the Strategas Global Policy Opportunities ETF (SAGP) is subject to lobbying focused investment risk. The adviser's investment process utilizes lobbying intensity as the primary input when selecting investments for the Fund's portfolio and does not consider an investment's traditional financial metrics. The Fund may underperform other funds that select investments utilizing more traditional investment metrics. The Fund may also focus its investments in a particular country or geographic region outside the U.S. and may be more susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within that country or geographic regions well as risks of increased volatility and lower trading volume.

In addition to the normal risks associated with investing, the Strategas Macro Thematic Opportunities ETF (SAMT) is subject to macro-thematic trend investing strategy risk. Therefore, the value of the Fund may decline if, among other reasons, macro-thematic trends believed to be beneficial to the Fund do not develop as anticipated or maintain over time, or the securities selected for inclusion in the Fund's portfolio do not perform as anticipated.

In addition to the normal risks associated with investing, the Strategas Macro Momentum ETF (SAMM) may invest in smaller companies, heavily in specific sectors, and also invest in gold, all of which can exhibit high volatility. Securities may be difficult or impossible to sell at the time and the price desired. Investments with exposure to international markets may experience capital loss from unfavorable fluctuation in currency values, differences in generally accepted accounting principles, or from social, economic or political instability in other nations. REITs are subject to changes in economic conditions, interest rates, and credit risk. MLPs involve risks related to limited control and limited rights to vote on matters affecting the MLP. MLP common units and other equity securities can be affected by 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. MLP investments in the energy industry entail significant risk and volatility.

The Funds may be more heavily invested in particular sectors and may be especially sensitive to factors and economic risks that specifically affect those sectors.

Strategas Asset Management ("SAM") is a registered investment adviser located in New York, NY. SAM and its representatives are in compliance with the current filing requirements imposed upon registered investment advisers by those states in which SAM maintains clients. SAM may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. For information pertaining to the registration status of SAM, please contact the SEC or the state securities regulators for those states in which SAM maintains a notice filing. A copy of SAM’s current written disclosure statement discussing SAM's business operations, services, and fees is available from SAM upon written request.

SAM's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of SAM's web site on the Internet should not be construed by any consumer and/or prospective client as SAM's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by SAM with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

SAM does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to SAM's web site or incorporated herein, and takes no responsibility therefore. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will either be suitable or profitable for a client or prospective client's investment portfolio. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Any decisions based on information contained on this website are the sole responsibility of the visitor and by using SAM’s website visitors are agreeing to hold SAM harmless against any claims of damages arising from any decisions based on information contained on the site.

Index Disclosures

This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only current as of the stated date of their issue. Prices, values, or income from any securities or investments mentioned inthis report may fall against the interests of the investor and the investor may get backless than the amount invested. Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate. When an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor. The information contained in this report does not constitute advice on the tax consequences of making any particular investment decision. This material is not intended for any specific investor and does not take into account your particular investment objectives, financial situations or needs and is not intended as a recommendation of particular securities, financial instruments or strategies to you. Before acting on any information in this material, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice.

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