ACSI ETFs

American Customer Satisfaction Core Alpha exchange traded funds ("ACSI ETFs") are available commission free to clients of Interactive Brokers LLC ("Interactive Brokers") through an agreement between Interactive Brokers and ACSI Funds, adviser and sponsor of the ACSI ETFs.

With an Interactive Brokers account, you can gain access via the Trader Workstation platform to commission-free trading of ACSI ETFs. The program currently applies to the ETFs listed below. [For further information on the Interactive Brokers' trading platforms, click here.]

The American Customer Satisfaction Index (ACSI) was established in 1994 by researchers at University of Michigan's Ross School of Business as a national indicator of the quality of economic output, as measured by US household consumption experience. Today, the ACSI tracks trends in customer satisfaction and provides benchmarking insights for companies, industry trade associations and government agencies.

The American Customer Satisfaction Core Alpha ETF (Ticker: ACSI) provides large cap US equity exposure to investors with individual companies weighted within each sector by their ACSI customer satisfaction scores. By tracking the American Customer Satisfaction Investable Index, the ETF is designed to provide ACSI Funds’ thesis as a core holding for US stock market investors in a transparent and systematic process. Utilizing ACSI’s customer satisfaction data, the American Customer Satisfaction Core Alpha ETF is designed to deliver a fund that sheds light on customer satisfaction as an optimizing portfolio factor, and provides overweight exposure to the most loved products and services that are at the root of the US stock market.

This and additional information can be found in the Fund's prospectus. Read the prospectus carefully before investing. For more information, please visit acsietf.com.

No offer or solicitation to buy or sell securities or futures products of any kind, or any type of recommendation or advice, is made, given or in any manner endorsed by Interactive Brokers or any of its affiliates.

Interactive Brokers receives compensation from ACSI Funds in connection with an agreement that includes promotion of ACSI ETFs and certain commission waivers.


ACSI ETFs
Symbol Fund Name Fund Description Prospectus Fact Sheet
ACSI American Customer Satisfaction Core Alpha ETF The American Customer Satisfaction Core Alpha ETF seeks to track the American Customer Satisfaction Investable Index, a broadly diversified U.S. equity index developed by ACSI Funds and ACSI, LLC. Download Download
Disclosures

Carefully consider each Fund's investment objective, risk factors, charges, and expenses before investing. This and additional information can be found in the Fund's prospectus at http://acsietf.com/wp-content/uploads/2016/10/ACSI_Prospectus.pdf. Please read the prospectus carefully before investing.

The commission-free trades for ACSI ETFs must be done online via the IB Trader Workstation platform. Commission-free trades apply to all online buy and sell transactions on the ACSI ETFs listed above. Interactive Brokers may add or waive commissions on ACSI ETFs without prior notice. Click here for information regarding account minimums. All ETFs are subject to internal management fees and expenses.

An investment in the Fund is subject to investment risks; therefore you may lose money by investing in the Fund. There can be no assurance that the Fund will be successful in meeting its investment objective. Shares of any ETF are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Narrowly focused investments typically exhibit higher volatility.

The securities of large-capitalization companies may be relatively mature compared to smaller companies and therefore subject to slower growth during times of economic expansion. The Index relies heavily on proprietary quantitative models as well as information and data supplied by third parties (Models and Data). Because the index is composed based on such Models and Data, when such Models and Data prove to be incorrect or incomplete, the Index and Fund may not perform as expected. As with all index funds, the performance of the Fund and its Index may differ from each other for a variety of reasons. For example, the Fund incurs operating expenses and portfolio transaction costs not incurred by the Index. In addition, the Fund may not be fully invested in the securities of the Index at all times or may hold securities not included in the Index. Investments involve risk. Principal loss is possible. The Fund has the same risks as the underlying securities traded on the exchange through the day. Redemptions are limited and often commissions are charged on each trade, and ETFs may trade at a premium or discount to their net asset value. To the extent the Fund invests more heavily in particular sectors of the economy, the Fund’s performance may be more sensitive to developments that significantly affect those sectors.

An investor should consider the Fund’s investment objectives, risks, charges and expenses carefully before investing. The prospectus or summary prospectus contain this and other important information about the Fund(s) and are available at acsietf.com or by calling 734.882.2401. Please read the prospectus or summary prospectus carefully before investing.

Past performance does not guarantee future results.

Shares of the American Customer Satisfaction Core Alpha ETF may be sold throughout the day on the exchange through any brokerage account. However, shares may only be redeemed directly from the Fund by Authorized Participants, in very large creation/redemption units. There can be no assurance that an active trading market for shares of an ETF will develop or be maintained.

Alpha measures a portfolio's risk adjusted performance and represents the difference between a portfolio's actual performance and its expected performance given its level of risk as measured by beta. Beta is a means of measuring the volatility of a security or portfolio of securities in comparison with the market.

The S&P 500 Index is a market capitalization-weighted index focused on the large-cap segment of the market. The index is comprised of 500 of the top companies in leading industries in the U.S. economy. It is not possible to invest directly in an index.

ACSI Funds, a registered investment adviser, serves as investment adviser to the American Customer Satisfaction Core Alpha ETF and is paid a fee for its services.

The American Customer Satisfaction Core Alpha ETF is distributed by Quasar Distributors, LLC.

No offer or solicitation to buy or sell securities or futures products of any kind, or any type of recommendation or advice, is made, given or in any manner endorsed by Interactive Brokers LLC ("Interactive Brokers") or any of its affiliates.

Interactive Brokers receives compensation from ACSI Funds in connection with an agreement that includes promotion of ACSI ETFs and certain commission waivers.