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
06/01/2020	19423L854	TACTICAL INCOME ETF	CASH AND CASH EQUIVALENTS		7.632435%	2502133.95	2502133.95
06/01/2020	19423L854	TACTICAL INCOME ETF	ABBOTT LABORATORIES	ABT	0.000000%	0.00	0.0000	002824100	2002305	US0028241000	Common Stock	0.000000000	0.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	APPLE INC.	AAPL	0.996020%	326524.38	1027.0000	037833100	2046251	US0378331005	Common Stock	0.000000000	1027.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	CORESITE REALTY CORP	COR	1.049339%	344003.92	2756.0000	21870Q105	B3T3VV8	US21870Q1058	Common Stock	0.000000000	2756.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	VELOCITYSHARES 3X LONG	UGLD	3.413463%	1119032.39	5923.0000	22542D316	BF7NL92	US22542D3162	Mutual Fund	0.000000000	5923.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	CYRUSONE INC	CONE	1.047425%	343376.46	4619.0000	23283R100	B7YRLH9	US23283R1005	Common Stock	0.000000000	4619.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	DRX DLY 20+	TMF	6.783770%	2223916.92	54993.0000	25459W540	B3W6M88	US25459W5408	Mutual Fund	0.000000000	54993.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	DRX DLY REAL ESTATE	DRV	0.812623%	266401.28	14407.0000	25460E141	BJFCS54	US25460E1414	Mutual Fund	0.000000000	14407.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	FIRST TRUST UTILITIES ALP	FXU	4.006717%	1313518.28	48079.0000	33734X184	B1X3024	US33734X1845	Mutual Fund	0.000000000	48079.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	FIRST TRUST NASDAQ TECHNO	TDIV	4.573949%	1499473.50	37254.0000	33738R118	B84FTH6	US33738R1187	Mutual Fund	0.000000000	37254.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	GLOBAL X NASDAQ-100 COVER	QYLD	1.968205%	645234.72	31216.0000	37954Y483	BJ16T46	US37954Y4834	Mutual Fund	0.000000000	31216.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	HOME DEPOT INC	HD	0.000000%	0.00	0.0000	437076102	2434209	US4370761029	Common Stock	0.000000000	0.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	INTERCONTINENTAL EXCHANGE	ICE	0.995552%	326371.00	3356.0000	45866F104	BFSSDS9	US45866F1049	Common Stock	0.000000000	3356.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	ISHARES 1-3 YEAR ETF	SHY	9.807203%	3215086.00	37100.0000	464287457	2971524	US4642874576	Mutual Fund	0.000000000	37100.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	ISHARES EDGE MSCI MIN ETF	USMV	4.166218%	1365807.30	22165.0000	46429B697	B74T2B6	US46429B6974	Mutual Fund	0.000000000	22165.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	JOHNSON & JOHNSON	JNJ	0.964203%	316093.75	2125.0000	478160104	2475833	US4781601046	Common Stock	0.000000000	2125.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	KINDER MORGAN INC.	KMI	0.000000%	0.00	0.0000	49456B101	B3NQ4P8	US49456B1017	Common Stock	0.000000000	0.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	MAGELLAN MIDSTREAM	MMP	0.000000%	0.00	0.0000	559080106	2723037	US5590801065	Common Stock	0.000000000	0.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	PROSHARES SHORT HY	SJB	3.685985%	1208373.00	57900.0000	74347R131	B3WM9Q3	US74347R1317	Mutual Fund	0.000000000	57900.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	PROSHARES S&P 500 DIVIDEN	NOBL	4.589881%	1504696.20	22485.0000	74348A467	BFN8PY4	US74348A4673	Mutual Fund	0.000000000	22485.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	QTS REALTY TRUST	QTS	1.053601%	345401.00	5035.0000	74736A103	BDSV8H8	US74736A1034	Common Stock	0.000000000	5035.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	SPDR S&P 500 ETF TRUST	SPY	9.638422%	3159754.56	10383.0000	78462F103	2840215	US78462F1030	Mutual Fund	0.000000000	10383.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	SPDR BLOOMBERG BARCLAYS C	CWB	2.972126%	974349.36	17148.0000	78464A359	B3Z44V6	US78464A3591	Mutual Fund	0.000000000	17148.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	VANECK VECTORS FALLEN ANG	ANGL	5.902749%	1935092.42	68669.0000	92189F437	BZ6C532	US92189F4375	Mutual Fund	0.000000000	68669.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	VANGUARD DIVID ETF	VIG	11.849450%	3884593.83	33007.0000	921908844	B13V1N6	US9219088443	Mutual Fund	0.000000000	33007.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	VANGUARD GLBL EX-US	VNQI	8.420661%	2760537.18	60366.0000	922042676	B5WK187	US9220426764	Mutual Fund	0.000000000	60366.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	BROOKFIELD PROPERTY PARTN	BPY	0.940313%	308261.80	29755.0000	G16249107	B9MSZT8	BMG162491077	Other Security	0.000000000	29755.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	DIGITAL REALTY TRUST INC	DLR US	0.975834%	319906.73	2235.0000	253868103	B03GQS4	US2538681030	Common Stock	0.000000000	2235.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	ENTERPRISE PRODUCTS	EPD	0.741638%	243130.40	12640.0000	293792107	2285388	US2937921078	Common Stock	0.000000000	12640.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	PROSH ULTRAPRO SHORT S&P	SPXU	0.506383%	166006.91	12375.0000	74347B268	BF10898	US74347B2685	Mutual Fund	0.000000000	12375.0000
06/01/2020	19423L854	TACTICAL INCOME ETF	PROSH ULTRAPRO SHORT S&P	SPXU	0.505835%	165827.48	12375.0000	74347B268	BF10898	US74347B2685	Mutual Fund	0.000000000	12375.0000

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
NAV Change %	CUSIP	Collaborative	2200	N/A	01	ETF	Tactical Income ETF	22000	32,816,932.340	1,425,000.00	23.0294	22.9081	0.1213

Tactical Income ETF

Ticker	Fund Name	RateDate	NAV	Close Price	Mean Price	Premium Discount %	Volume
TBND	Tactical Income ETF	5/29/2020	23.0294	23.0242	23.0050	-0.0226	942

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.