m+ DynaBuffer ETF MPDB

Important Fund Information



Investors should carefully consider the investment objectives, risks, and charges and expenses of the Fund before investing. The prospectus contains this and other information about the Fund, and it should be read carefully before investing. Investors may obtain a copy of the prospectus by calling 888-852-4281.

General Risks:

An investment in the Fund involves risk, including the possible loss of principal. There can be no assurance that the Fund will achieve its investment objective. The Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any other government agency. Investment risks may increase during periods of market volatility; please refer to the Fund’s prospectus for a complete discussion of risks. The Fund’s share price may vary and investors can lose money. Shares trade at market prices, which might differ from NAV, and an active trading market is not guaranteed. Unlike mutual funds, shares cannot be redeemed individually but only in large units by authorized participants. If these participants leave, shares may trade at a premium or discount to NAV, with wider bid-ask spreads. Brokerage commissions and ETF expenses will reduce returns. The Fund may use options and option combinations, including strategies designed to replicate defined cash flows or manage financing exposures. These strategies are subject to risks related to pricing, liquidity, counterparty performance, and execution, and may perform differently than expected under certain market conditions. The Fund is subject to counterparty risk, meaning losses may occur if a derivatives counterparty or other contractual counterparty fails to meet its obligations. Certain investments may be less liquid or more difficult to value, particularly during periods of market stress. Fund distributions are not guaranteed and may vary from period to period. Tax treatment may change and may differ for individual investors. The Fund is classified as ‘non-diversified’ under the 1940 Act. The Fund’s performance may be more sensitive to any single economic, business, political or regulatory occurrence than the value of shares of a diversified investment company because, as a non-diversified fund, the Fund may invest more than 5% of its total assets in the securities of one or more issuers. As buffers provide protection only up to a predefined level (approximately 10%). Losses beyond the buffer are fully borne by investors and may be substantial during significant market declines.

The information provided on this website is for informational purposes only and is not intended as investment advice or a recommendation to buy or sell any security. Investing involves risk, and investors should consult their financial, tax, or legal advisors before making investment decisions.

Selected Risks:

Authorized Participant Risk. Only certain financial institutions such as registered broker-dealers and banks that have entered into agreements with the Funds’ Distributor (“Authorized Participant” or “AP”) may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that may act as Authorized Participants on an agency basis (i.e., on behalf of other market participants). Authorized Participant concentration risk may be heightened for exchange-traded funds (ETFs), such as the Fund, that invest in securities issued by non-U.S. issuers or other securities or instruments that have lower trading volumes.

Capped Upside Return Risk. Each Buffer Note in the Buffer Index seeks to provide returns that are subject to the cap. In the event that the ETF has gains in excess of the cap, the Buffer Note will not participate in those gains beyond the cap.

Laddered Portfolio Risk. The laddered portfolio strategy may not perform as expected if market conditions remain unfavorable over an extended period, multiple Buffer Notes may experience losses simultaneously and/or the weekly rebalancing mechanism may result in suboptimal entry points during rapidly changing markets.

Derivative Risk. Derivative instruments involve risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Derivatives may create leverage, and the loss on derivative transactions may substantially exceed the Fund’s initial investment. Some derivatives have the potential for unlimited losses.

Rolling and Timing Risk. The Fund’s investment strategy relies on a laddered portfolio of synthetic instruments that are added and replaced through a systematic rolling process. While this approach is designed to reduce concentration risk and mitigate exposure to any single market entry point, it may nevertheless result in suboptimal entry timing, particularly during periods of rapidly changing or stressed market conditions. Market conditions at the time new positions are added may adversely affect future income payments or principal outcomes. In addition, unfavorable market conditions persisting across multiple roll periods may negatively impact the overall performance of the Fund.

Correlation Risk. The Fund’s return is not likely to match the expected returns of the Index Portfolio or the return of the Buffer Index for a number of reasons, including operating expenses, transaction costs, cash management, market conditions, and differences in calculation methodologies.

Buffer Structure Risk. The buffer is intended to absorb losses in the SPY ETF only up to that specified level. If losses in the SPY ETF exceed the buffer threshold, the investor bears the full amount of losses beyond the buffer, which may result in a substantial decline in the value of the Buffer Notes. As a result, during significant market downturns, the Fund may experience large and rapid declines in value, and investors may lose a significant portion, or all, of their investment.

Liquidity Risk. Liquidity risk exists when particular investments would be difficult to purchase or sell, possibly preventing the Fund from selling such illiquid securities at an advantageous time or price, or possibly requiring the Fund to dispose of other investments at unfavorable times or prices in order to satisfy its obligations.

Valuation Risk. The complex nature of buffer note structures may make accurate valuation difficult during market stress, potentially leading to significant premiums or discounts to NAV. In addition, during periods of reduced market liquidity or in the absence of readily available market quotations for the holdings of the Fund, the ability of the Fund to value the Swap Agreements may become more difficult.

Equity Securities Risk. The securities markets are volatile. The Fund’s exposure to the Underlying Reference Index subjects it to risks associated with equity markets. The value of the Underlying Reference Index may fluctuate, sometimes rapidly and unpredictably, due to factors affecting the U.S. equity markets generally or particular segments of the market. If the market prices of the securities to which the Underlying Reference Index is exposed decline, the value of your investment in the Fund will decline.

New Fund Risk. Because the Fund is recently launched, it has limited operating history. There can be no assurance that the investment strategy will perform as expected or achieve its long‑term objectives.

Definitions

Net Asset Value (NAV) represents the per-share value of the ETF’s underlying assets, minus its liabilities. NAV is calculated at the end of each trading day by dividing the total value of the Fund’s holdings by the number of shares outstanding.

Market Price is the price at which ETF shares trade on the exchange during market hours. Unlike NAV, the market price fluctuates throughout the day based on supply and demand.

A Premium occurs when an ETF’s market price is higher than its NAV. A Discount occurs when the market price is lower than NAV. Premiums and discounts may arise due to trading activity, liquidity, or market conditions.

30‑Day Median Bid/Ask Spread measures the typical difference between the highest price a buyer is willing to pay (bid) and the lowest price a seller is willing to accept (ask), calculated over the last 30 calendar days. It is expressed as a percentage and reflects trading liquidity and transaction costs.

Call and Put Options are contracts that give the holder the right, but not the obligation, to buy or sell an underlying asset at a specified price on or before the option’s expiration date. A call option provides the right to buy, while a put option provides the right to sell.

Expense Ratio is the annual fee expressed as a percentage of the Fund’s average net assets. It covers operating costs such as management, administration, and other fund expenses, and is deducted from the Fund’s assets.

The Fund’s expense ratio as of the prospectus dated 08.10.2026 is 0.70%.

The HSBC DynaBuffer US Large Cap Index (the “Index”) is owned by HSBC Bank PLC and is licensed for use by the Fund. The Fund obtains exposure to the Index through swap agreements with HSBC Bank PLC. HSBC Bank PLC is not affiliated with the Fund and does not sponsor, endorse, issue, sell, or promote the Fund. HSBC Bank PLC does not act as an investment adviser and has no obligation or responsibility with respect to the Fund’s investment results, marketing, trading, or suitability for any investor. HSBC Bank PLC and its affiliates have no responsibility for, and make no representations regarding, the advisability of investing in the Fund. Information about the Fund is provided solely by the Fund and its affiliates, and investors should not rely on any statements or representations made by HSBC Bank PLC or its affiliates.

S&P®, SPDR®, S&P 500® are trademarks of Standard & Poor’s Financial Services LLC.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE