The Funds’ investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus and summary prospectus contains this and other important information about the investment company. The prospectus can be obtained by clicking here or a hard copy of the prospectus can be obtained by calling 1-833-HOYA-CAP. Please read it carefully before investing.

Investing involves risks. Principal loss is possible. The fund is passively managed and attempts to mirror the composition and performance of the Hoya Capital High Dividend Yield Index. The Fund’s returns may not match due to expenses incurred by the Fund or lack of precise correlation with the index and may at times not hold or be fully invested in the same securities as the index. The Fund’s investments will be concentrated in real estate-related industries. Investments in real estate companies involve unique risks. Real estate companies, including REITs, may have limited financial resources, may trade less frequently and in limited volume, and may be more volatile than other securities. Many factors may affect real estate values, including the availability of mortgages and changes in interest rates. Real estate companies are also subject to heavy cash flow dependency, defaults by borrowers, and self-liquidation. Preferred stocks may decline in price, fail to pay dividends, or be illiquid. Compared to large cap companies, small and mid-capitalizations companies may be less stable and their securities may be more volatile and less liquid. The Fund is new with no track record to evaluate.

The fund seeks to maintain relatively consistent monthly distributions; however, because the amount of income earned by the Fund varies from month-to-month, the Fund’s distributions may be more or less than the actual amount of income earned in that period and may include income, return of capital, and capital gains. Distributions for funds investing in real estate investment trusts (REITs) may later be characterized as capital gains and/or a return of capital, depending on the character of the dividends reported to each fund after year-end by REITs held by a fund. The final tax treatment of these distributions will be reported to shareholders after the close of each fiscal year on form 1099-DIV.

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price. Calculated at the end of each business day.

NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day.

¹Distributions are not guaranteed.

²Diversification does not assure a profit or protect against a loss in a declining market.

³Awards Methodology:

ETF Express Award Methodology

Awards are based on a “peer review system” whereby ETF Express readers – including institutional and high net worth advisors, managers, and other industry professionals at fund administrators, prime brokers, custodians, and advisers – are invited to elect a “best in class” in a series of categories via an online survey. There were 1,202 votes cast in total. ETF Express worked with Algo-Chain to pre-select ETF Providers in each category based on investment performance during the twelve month period of May 2018-May 2019 leading up to the award selection. Subjective categories did not have pre-selected categories. In each category, the firms with the most votes at the end of the voting period are subject to a final review by ETF Express’s Senior Editorial team. Awarded on October 24, 2019.

ETF.com Award Methodology

Winners are selected in a three-part process designed to leverage the insights and opinions of leaders throughout the ETF industry. Step 1: The awards process began with open nominations, which started Dec. 4, 2019, and closed Jan. 4, 2020. Self-nominations were accepted, and nominations were not limited to a maximum number of categories. Step 2: Following the open nominations process, the ETF.com Awards Nominating Committee—made up of ETF.com editorial staff—reviews nominations. Nominations are screened for eligibility (appropriate timing and category). If more than five unique entries are received in the nominations process, the members of the Nominating Committee force-ranked their top five, resulting in a final slate for each category. Votes were resolved on a majority basis, and ties broken where possible with head-to-head runoff votes. If ties could not be broken, more than five finalists were allowed. The Nomination Committee completed its work by Jan. 10, 2020. Shortly thereafter, the nominees were published on ETF.com. Step 3: Winners among these finalists were selected by a majority vote of the ETF.com Awards Selection Committee, a group of independent ETF experts from across the ETF community. Committee members recused themselves from voting in any category in which they or their firms appear as finalists. Ties were decided where possible with head-to-head runoff votes. Voting was completed by Jan. 31, 2019. Categories: ‘Best New US Equity ETF’ is awarded to an ETF Launched in 2019 that is judged by the ETF Awards Nominating Committee to be the best new ETF of the year in the equity category. ‘Most Innovative New ETF’ is awarded to an ETF Launched in 2019 that is judged by the ETF Awards Nominating Committee to be the most innovative new ETF of the year. ‘New ETF Issuer of the Year’ ETF’ is awarded to an ETF Issuer that launched their first fund in that year that is judged by the ETF Awards Nominating Committee to be the best new ETF issuer.

30 Day Median Spread is a calculation of Fund’s median bid-ask spread, expressed as a percentage rounded to the nearest hundredth, computed by: identifying the Fund’s national best bid and national best offer as of the end of each 10 second interval during each trading day of the last 30 calendar days; dividing the difference between each such bid and offer by the midpoint of the national best bid and national best offer; and identifying the median of those values.

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.

Opinions expressed are subject to change at any time, are not guaranteed and should not be considered investment advice.

Hoya Capital Real Estate is the advisor to RIET which is distributed by Quasar Distributors, LLC.

The Fund is offered only to United States residents, and information on this website is intended only for such persons. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of the Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.