Belpointe Tactical Income ETF (TBND)

Fund Objective

The Fund seeks to provide total return.

Principal Investment Strategy

In pursuing the Fund’s investment objective, the Fund will invest in exchange-traded funds (“ETFs”) that primarily invest in fixed income securities, real estate investment trusts (“REITs”), master limited partnerships (“MLPs”), dividend paying equity stocks including utility stocks, and exchange-traded notes (“ETNs”). Fixed Income ETFs will include those that invest in domestic and foreign fixed income securities of any credit rating maturity and duration. Such fixed income securities will include high yield bonds (commonly known as “junk bonds”). The Fund considers high yield bonds to be those that are rated lower than Baa3 by Moody’s Investors Service or lower than BBB- by Standard & Poor’s rating group. High yield bonds have a higher expected rate of default than investment grade bonds.

Downloads

Prospectus

SAI

XBRL Files: ATT00001.htm | ATT00002.htm | tbnd-20190607.zip

Fund Management

Investment Advisor: Belpointe Asset Management, LLC
Sub Advisor: Tuttle Tactical Management, LLC

Shareholder Fees

Maximum Sales Charge (Load) Imposed on Purchases	None
Maximum Deferred Sales Charge (Load)	None
Maximum Sales Charge (Load) Imposed on Reinvested Dividends and Other Distributions	None
Redemption Fee	None

Annual Fund Operating Expenses

(expenses that you pay each year as a percentage of the value of your investment)

Management Fee	.84%
Distribution and/or Service (12b-1) Fees	0.00%
Other Expenses	.57%
Acquired Fund Fees and Expenses	.30%
Total Annual Fund Operating Expenses	1.71%
Fee Waiver and/or Expense Reimbursement	.12%
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement	1.59%

The fund advisor has contractually ageed to reduce its fees and/or absorb expenses of the fund, through at least June 30, 2020, to ensure that Total Annual Fund Operating Expenses After Fee Waiver and/or Reimbursement will not exceed 1.59%.

Tactical Income ETF - Holdings

EffectiveDate	FundCusip	EntityName	HoldingName	Ticker	MarketValue%	MarketValue	SharesQuantity	SecurityID	SecuritySedol	SecurityISIN	AssetGroup	CouponRate	Principal
12/12/2019	19423L854	TACTICAL INCOME ETF	CASH AND CASH EQUIVALENTS		8.322647%	4234333.82	4234333.82
12/12/2019	19423L854	TACTICAL INCOME ETF	INVESCO ULTRA SHORT DURAT	GSY US	0.008921%	4538.70	90.0000	46090A887	BZ03T06	US46090A8870	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES SELECT DIVIDEND E	DVY	5.074970%	2582005.14	24882.0000	464287168	2165305	US4642871689	Mutual Fund	0.000000000	24882.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES 20+ YEAR TREASURY	TLT	40.759875%	20737502.50	148390.0000	464287432	2971546	US4642874329	Mutual Fund	0.000000000	148390.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	10.066042%	5121325.00	60500.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	60500.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES SHORT-TERM CORPOR	IGSB US	0.009487%	4826.70	90.0000	464288646	B1MYR50	US4642886463	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES FLOATING RATE ETF	FLOT	0.009009%	4583.70	90.0000	46429B655	B3SRYM3	US46429B6552	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES SHORT MATURITY	NEAR	0.008896%	4526.10	90.0000	46431W507	BF2H6S3	US46431W5076	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	JPMORGAN ALERIAN MLP INDE	AMJ	5.139924%	2615052.10	124645.0000	46625H365	B3SRKZ8	US46625H3654	Mutual Fund	0.000000000	124645.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	PIMCO ENHANCED SHRT MATUR	MINT	0.017980%	9147.60	90.0000	72201R833	B3Q9777	US72201R8337	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	PROSHARES ULTRASHORT 20+	TBT	5.121999%	2605932.00	103410.0000	74347B201	B3PL086	US74347B2016	Mutual Fund	0.000000000	103410.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	SPDR BLOOMBERG BARCLAYS C	CWB	5.072773%	2580887.40	47269.0000	78464A359	B3Z44V6	US78464A3591	Mutual Fund	0.000000000	47269.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	SPDR S&P DIVIDEND ETF	SDY	10.161664%	5169974.89	48467.0000	78464A763	B0Q4PL1	US78464A7634	Mutual Fund	0.000000000	48467.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	SPDR BLOOMBERG BARCLAYS 1	BIL	0.016182%	8233.20	90.0000	78468R663	BDFDQP1	US78468R6633	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	SCHWAB SHORT-TERM U.S ETF	SCHO	0.008928%	4542.30	90.0000	808524862	B53Y8C1	US8085248628	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	CONSUMER STAPLES ETF	XLP	0.007384%	3756.60	60.0000	81369Y308	2369389	US81369Y3080	Mutual Fund	0.000000000	60.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	UTILITIES SELECT ETF	XLU	5.020746%	2554417.50	40450.0000	81369Y886	2371812	US81369Y8865	Mutual Fund	0.000000000	40450.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	VANGUARD SHORT TERM BOND	BSV	0.014265%	7257.60	90.0000	921937827	B1VBX0	US9129378273	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	VANGUARD SHORT-TERM CORP	VCSH	0.014325%	7288.20	90.0000	92206C409	B4N0G06	US92206C4096	Mutual Fund	0.000000000	90.0000
12/12/2019	19423L854	TACTICAL INCOME ETF	ISHARES U.S. REAL ESTATE	IYR	5.143983%	2617117.07	28486.0000	464287739	2605652	US4642877397	Mutual Fund	0.000000000	28486.0000

Tactical Income ETF - NAV

Group	Fund	Basis	Class	Class Name	Fund Name	TA #	Net Assets	Net Shares	Current NAV	Prior NAV	NAV Change	NAV Change %	CUSIP
Collaborative	2200	N/A	01	ETF	Tactical Income ETF	22000	52,903,682.210	2,175,000.00	24.3235	24.2423	0.0812	0.33%	19423L854

Tactical Income ETF

Ticker	Fund Name	RateDate	NAV	Close Price	Mean Price	Premium Discount %	Volume
TBND	Tactical Income ETF	12/11/2019	24.3235	24.2852	24.2900	-0.1575	200

Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For more complete information on download and view a prospectus or summary prospectus now or call (855) 510-1763 for a free prospectus or summary prospectus. You should consider the fund’s investment objectives, risks, charges, and expenses carefully before you invest. Information about these and other important subjects is in the fund’s prospectus or summary prospectus, which you should read carefully before investing. Investing involves risk, including loss of principal. There is no guarantee that this, or any investment strategy will succeed. Shares of these ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. Brokerage commissions will reduce returns. The prospectus should be read carefully before investing.

PRINCIPAL RISKS: As with all mutual funds, there is the risk that you could lose money through your investment in the Fund.

Credit Risk: There is a risk that issuers will not make payments on fixed income securities held by the Fund, resulting in losses to the Fund. In addition, the credit quality of fixed income securities held by the Fund may be lowered if an issuer’s financial condition changes. The issuer of a fixed income security may also default on its obligations.

Fixed Income Risk: When the Fund invests in fixed income securities, the value of your investment in the Fund will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the value of fixed income securities.

Foreign Securities Risk: Because the Fund’s investments may include foreign securities, the Fund is subject to risks beyond those associated with investing in domestic securities. In addition, foreign accounting, auditing and financial reporting standards generally differ from those applicable to U.S. companies.

High Yield Risk: Lower-quality bonds, known as “high yield” or “junk” bonds, present greater risk than bonds of higher quality, including an increased risk of default.

Master Limited Partnership Risk: Investments in MLPs and MLP-related securities involve risks different from those of investing in common stock including risks related to limited control and limited rights to vote on matters affecting the MLP or MLP-related security, risks related to potential conflicts of interest between an MLP and the MLP’s general partner, cash flow risks, dilution risks (which could occur if the MLP raises capital and then invests it in projects whose return fails to exceed the cost of capital raised) and risks related to the general partner’s limited call right. MLPs and MLP-related securities are generally considered interest-rate sensitive investments.

REIT Risk: The Fund will have investment exposure to REITs. The value of the Fund’s investments in REITs may change in response to changes in the real estate market such as declines in the value of real estate, lack of available capital or financing opportunities, and increases in property taxes or operating costs.

Distributed by Foreside Fund Services, LLC. Three Canal Plaza, Suite 100, Portland, ME 04101.