Donoghue Forlines Tactical High Yield ETF

Donoghue Forlines LLC   |   One International Place, Suite 310   |   Boston, MA 02110   |   1.800.642.4276

Investing involves risk. Principal loss is possible.

Holdings are subject to change and should not be considered a recommendation to buy or sell any security.

**The 30-Day SEC Yield is computed under an SEC standardized formula based on net income earned over the past 30 days.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the statutory and summary prospectuses, a copy of which may be obtained by visiting the Fund’s website at www.donoghueforlinesetfs.com/etfs/dfnv/ and www.donoghueforlinesetfs.com/etfs/dfhy/. Please read the prospectus carefully before you invest.

Regarding the Donoghue Forlines Tactical High Yield ETF and Donoghue Forlines Risk Managed Innovation ETF: the information in this communication is not complete and may be changed. We may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This communication is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted.

Quasar Distributors, LLC

There is no guarantee that DFHY will achieve its investment objective. Investing involves risk, including the possible loss of principal. Because the Fund is an ETF (rather than a mutual fund), shares are bought and sold at market price (not NAV), may trade at a discount or premium to NAV, and are not individually redeemable. Owners of the shares may acquire those shares from the Fund and tender those shares for redemption to the Fund in Creation Unit aggregations only, consisting of 25,000 shares. Brokerage commissions will reduce returns. Investments in the Fund include risks associated with small-and mid-cap securities, which involve limited liquidity and greater volatility than large-cap securities. Because the Fund invests in ETFs, an investor will indirectly bear the principal risks of the underlying funds, including illiquidity, and an investment in the Fund will entail more costs and expenses than a direct investment in the Underlying ETFs. Index-Based Strategy Risk. Passive funds that seek to track an index may hold the component securities of the underlying index regardless of the current or projected performance of a specific security or relevant market as a whole, which could cause the Fund returns to be lower than if the Fund employed an active strategy. The performance of the Fund may diverge from that of its Index. The Fund may participate in futures markets, which are highly volatile, and the use of futures may increase the volatility of the Fund’s NAV. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investments by the Fund in high yield securities and unrated securities of similar credit quality are considered to be speculative and are generally subject to a greater risk of loss of principal and interest than investment grade securities. Investment in a fund that utilizes a tactical overlay that seeks to minimize risk may not be appropriate for every investor seeking a particular risk profile. Active and frequent trading of portfolio securities may result in increased transaction costs to the Fund, and may also result in higher taxes if Shares are held in a taxable account.

The FCF Tactical High Yield Index (the “Index”) derives its performance from a rules-based strategy that employs a tactical overlay driven by a technical signal to determine a bullish or defensive posture. The tactical overlay will trigger 80% of the portfolio into a defensive position, should market conditions warrant. When in a defensive position, the Fund will be invested in intermediate-term U.S. Treasury exchange-traded funds (“ETFs”). When bullish, the Fund will direct investments into a selection of High Yield Bond ETFs. It is not possible to invest directly in an index.

Free Cash Flow (FCF) represents the cash that a company is able to generate after accounting for capital expenditures.

Alpha is a measure of performance on a risk-adjusted basis.

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

Market Price: The current price at which shares are bought and sold. Market returns are based upon last trade price. 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.

The Bloomberg Barclays US Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market.