AIMO Roundhill LLM ETF

The Fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in the equity securities of large language model (“LLM”) companies (“LLM Companies”). The Fund will generally seek to invest primarily in the equity securities of LLM Companies but may also seek exposure to LLM Companies through derivative instruments, such as swap agreements and forward contracts.

According to the Fund’s adviser, Roundhill Financial Inc. (“Roundhill” or the “Adviser”), an LLM is an artificial intelligence model trained on large-scale datasets using deep learning architectures (such as transformer-based neural networks) designed to understand, generate, and manipulate natural language and other modalities across a range of applications, including conversational agents, content generation, software development, enterprise productivity tools, and search. The Adviser identifies LLM Companies as those companies with at least 50% of their revenues or profits attributable to the development, training, maintenance, or sale of LLM products.

Under normal circumstances, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities (which may include depositary receipts) or financial instruments (i.e., swap agreements or forward contracts) that provide exposure to LLM Companies. For purposes of compliance with this investment policy, derivative contracts (i.e., swap agreements and forward contracts) will be valued at their notional value. The Fund may invest up to 20% of its net assets in the equity securities (or derivatives thereof) of companies that derive less than 50% of their revenues or profits attributable to the development, training, maintenance, or sale of one or more LLM products or own a substantial equity stake in an LLM Company.

The Fund is classified as “non-diversified” under the Investment Company Act of 1940 (the “1940 Act”).