QUARTERLY FACT SHEET

3/31/2024

AXS CHESAPEAKE STRATEGY FUND

FUND FACTS The AXS Chesapeake Strategy Fund seeks long-term capital
SHARE
appreciation by employing a long-term trend following strategy.
CLASS I A C
Access to:
Ticker EQCHX ECHAX ECHCX Broad universe of futures markets: Over 100 markets worldwide, including currencies,
commodities, interest rates and equity indices.
Inception
Date 9/10/2012 8/21/2015 8/21/2015 Diversified strategies: Both systematic and long-term trend following to potentially
Total
reduce risk without sacrificing performance.
Annual
Operating
Disciplined approach: Seeks to maximize the profit in each trade by following its
Expenses1 2.44% 2.69% 3.44% trading models regardless of market conditions.

Net Diversification: Seeks to deliver returns that are not correlated with returns from
Expenses1 1.94% 2.19% 2.94% traditional asset classes.

Minimum
Investment $5,000 $2,500 $2,500
Performance as of 3/31/2024
1 The Fund’s investment advisor has contractually agreed
to reduce its fees and/or absorb expenses of the Fund to
ensure that the Fund’s total annual operating expenses do ANNUALIZED RATES OF RETURN
not exceed on an annual basis: 1.85% Class I, 2.10% Class
A, and 2.85% Class C of the Fund’s average daily net SINCE
3 MO YTD 1 YEAR 3 YEAR 5 YEAR 10 YEAR
assets through at least 7/22/2024. Please review the (%) INCEPTION
Fund’s Prospectus for additional expense detail.
Class I 9.65 9.65 3.43 8.06 7.31 5.67 5.79

Class A 9.58 9.58 3.18 7.77 7.03 - 2.63

FUND SUB-ADVISER Class A (with 5.75% max. sales charge) 3.30 3.30 -2.72 5.66 5.77 - 1.93

Class C 9.45 9.45 2.45 6.98 6.25 - 1.88

Chesapeake Capital
SG Trend Index 12.20 12.20 16.00 12.84 11.00 6.88 5.20
Founded 35 years ago by Jerry
Parker, Chesapeake Capital
Corporation provides investors The performance data quoted represents past performance and is no guarantee of future results.
uncorrelated returns through Investment return and principal value of an investment will fluctuate so that an investor's shares, when
redeemed, may be worth more or less than their original cost. Current performance may be lower or
consistency in approach across a higher than the performance data quoted. For the most recent month-end performance, please call
broad range of global markets and 833.AXS.ALTS or visit the Fund’s website at www.axsinvestments.com.
variable market conditions. With
almost 30 years of managing
client capital, Chesapeake is Diversification by Sector as of 3/31/2024
focused, consistent and single-
minded in their approach. Jerry
FIXED INCOME 28%
Parker is currently the Chairman
and CEO of Chesapeake Capital EQUITY 27%
Corporation.
AGRICULTURE 13%
Headquarters: Richmond, Virginia
CURRENCY 13%
Founded: 1988
METALS 9%

ENERGY 11%
Sector positions subject to change.

www.axsinvestments.com
 AXS CHESAPEAKE STRATEGY FUND

Correlation as of 3/31/2024

U.S. Global Fixed Global

AXS Chesapeake Strategy Fund
Equities Equities Income Commodities

1.00 0.10 0.10 -0.51 0.42

DESCRIPTIONS OF INDICES AND TERMS

Managed Futures: SG Trend Index – An index designed to track the 10 largest trend following CTAs (by AUM) to represent trend followers in the managed futures space. Commodities: S&P
GSCI – An investable commodity index that is broad-based and production weighted to represent the global commodity market beta. It includes the most liquid commodity futures.
Equities: S&P 500® Total Return Index– A market-capitalization-weighted index of the 500 largest U.S. publicly traded companies. Fixed Income: Barclays Capital US Aggregate Bond Index®
– The most common index used to track the performance of investment grade bonds in the U.S. Global Equities: MSCI World Index– A free float-adjusted market capitalization weighted
index that is designed to measure the equity market performance of developed markets. Investors cannot directly invest in an index and unmanaged index returns do not reflect any fees,
expenses or sales charges.

Correlation is measured on a scale from 1.00 to -1.00. Investments with high correlation tend to rise and fall together. Non-correlated investments (0.00) tend to move up and down with no
relation to one another. Investments with negative correlation tend to move in opposite directions. Long-Term Trend-Following is a strategy that uses long-term indicators and averages,
general five months or longer. Systematic Trading employs computer-driven, mathematical models to identify when to buy or sell an instrument according to rules determined before a
trade is made, generally with little or no human intervention once a mathematical formula has been entered.

IMPORTANT RISK DISCLOSURE

Mutual funds involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective.

The Fund’s indirect and direct exposure to foreign currencies subjects the Fund to the risk that those currencies will decline in value relative to the U.S. Dollar, or, in the case of
short positions, that the U.S. Dollar will decline in value relative to the currency that the Fund is short. Currency rates in foreign countries may fluctuate significantly over short
periods for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad. In addition,
the Fund may incur transaction costs in connection with conversions between various currencies. The Fund will invest a percentage of its assets in derivatives, such as futures and options
contracts. The use of such derivatives may expose the Fund to additional risks that it would not be subject to if it invested directly in the securities and commodities
underlying those derivatives.

The Fund may experience greater losses than those experienced by funds that do not use futures contracts and options. There may be an imperfect correlation between the
changes in market value of the securities held by the Fund and the prices of futures and options on futures. Although futures contracts are generally liquid instruments, under
certain market conditions there may not always be a liquid secondary market for a futures contract. As a result, the Fund may be unable to close out its futures contracts at a
time that is advantageous. Trading restrictions or limitations may be imposed by an exchange, and government regulations may restrict trading in futures contracts and options.
Because option premiums paid or received by the Fund are small in relation to the market value of the investments underlying the options, buying and selling put and call
options can be more speculative than investing directly in securities.

Investors should carefully consider the investment objectives, risks, charges and expenses of AXS Chesapeake Strategy Fund. This and other important information
about the Fund is contained in the Prospectus, which can be obtained by calling 833.AXS.ALTS (833.297.2587). The Prospectus should be read carefully before
investing.

Distributed by ALPS Distributors, Inc, which is not affiliated with AXS Investments. AXI000452

www.axsinvestments.com