To the clients and friends of ProfitScore:

First, we at ProfitScore want to extend our heartfelt thanks to everyone who has contributed to our growth.

Update: Upon the launch of AXSPX, Morningstar mistook the fund for the Large/Blend category. Morningstar has reclassified the ASXPX fund from its previous classification of Large/Blend to the L/S Equity category.

Many of you have provided valuable feedback that has helped us refine our strategy’s story and message. A common suggestion has been to show how our strategy impacts a portfolio. Since the ProfitScore PSRAE index serves as a potential risk offset for equities and fixed income, it has the most significant impact as a core-satellite allocation. By reallocating 10% from the equity bucket and 10% from the fixed income bucket to a satellite, we achieve a 50/30/20 allocation versus the traditional 60/40. This adjustment can potentially have a substantial impact on a portfolio’s risk/return metrics, as the simulation below demonstrates. 

Impact of adding ProfitScore as a Satellite AllocationCor+ – 50% Equities, 30% AGG, 20% Satellite (PSRAE Index)

Also, the chart below shows that the index has had a 66% annualized return advantage over the VBIAX (60/40 benchmark) over the same time period since its inception, with only a 6% increase in downside deviation.

AXSPX has achieved remarkable success, and we owe it all to our dedicated followers. In the coming weeks, we will be reaching out for our bi-annual update meetings with our followers and investors. We are excited to reconnect with you and share our latest developments.

Important disclosure information: Past performance of a ProfitScore index is not an indication of future results. You cannot invest directly in any ProfitScore index. The performance of any ProfitScore index does not represent actual fund or portfolio performance. A fund or portfolio may differ significantly from the securities included in an index. A decision to invest in any such fund or portfolio should not be made in reliance on any of the statements discussed above. The inclusion of a security within any ProfitScore index is not a recommendation by ProfitScore to buy, sell, or hold such security, nor is it considered to be investment advice. Index performance does not reflect any management fees, transaction costs, or other expenses that would be incurred by a portfolio or fund, or brokerage commissions on transactions in fund shares. Such fees, expenses, and commissions would reduce returns. ProfitScore receives compensation in connection with licensing rights to its indices. All information relating to any ProfitScore index is impersonal and not tailored to the specific financial circumstances of any person, entity, or group of persons. 

No Solicitation of Investment Advice: ProfitScore is not offering or rendering investment or financial planning advice through this email. This email is limited to the dissemination of general information about ProfitScore’s services and as a means of contacting us. Data and information are provided for informational purposes only and are not intended for trading purposes. ProfitScore gives no warranty, express or implied, as to the accuracy, reliability, utility or completeness of any information contained in this email. Neither ProfitScore nor any of its data or content providers shall be liable for any errors or delays in the content or any actions taken in reliance thereon. ProfitScore is not responsible for the contents of any website linked to this email. ProfitScore reserves the right at any time, and without notice, to change, amend, or cease publication of the Indices.

IMPORTANT RISK DISCLOSURE AXSPX FUND
Risk is inherent in all investing, and you could lose money by investing in the Fund. There can be no assurance that the Fund will achieve its investment objectives. ProfitScore Regime-Adaptive Long /Short Equity (PSRAE) is a highly liquid, systematic index managed by ProfitScore Capital Management. It trades U.S. Equity Index securities (long and short) and cash equivalents based on whether the market regime for U.S. equities is experiencing low volatility or high volatility. Derivatives Risk: The use of derivatives, including options and swaps, exposes the Fund to leverage, liquidity, valuation, market, counterparty and credit risks. Derivatives transactions can be highly illiquid and difficult to unwind or value, they
can increase Fund volatility, and changes in the value of a derivative held by the Fund may not correlate with the value of the underlying instrument or the Fund’s other investments. The Fund may enter into swap transactions. A swap contract is a commitment between two parties to make or receive payments based on agreed upon terms, and whose value and payments are derived by changes in the value of
an underlying financial instrument. Leveraging Risk: Certain Fund transactions, such as entering into futures contracts, options and short sales, may give rise to a form of leverage, which can magnify the effects of changes in the value of the Fund’s investments and make the Fund more volatile. LIBOR Risk: Many financial instruments, financings or other transactions to which the Fund may be a party use or may use a floating rate based on the London Interbank Offered Rate (“LIBOR”). Fixed Income Securities Risk: The prices of fixed income securities respond to economic developments, particularly interest rate changes, as well as to changes in an issuer’s credit rating or market perceptions about the creditworthiness of an issuer.

Investors should carefully consider the investment objectives, risks, charges and expenses of AXS Adaptive Plus Fund. This and other important information about the Fund is contained in the Prospectus, which can be obtained by visiting www.axsinvestments.com. The Prospectus should be read carefully before investing.