Disclosure

Investing involves risk. Principal loss is possible. Past performance is no guarantee of future results. The investment return and principal value of an investment in the Funds will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost.

This is for informational purposes only and is not a recommendation nor solicitation to buy, sell or invest in any investment product or strategy. Our materials may contain information deemed to be correct and appropriate at a given time but may not reflect our current views or opinions due to changing market conditions. No information provided should be viewed as or used as a substitute for individualized investment advice. An investor should consider the investment objectives, risks, charges, and expenses of the investment and the strategy carefully before investing.

KAM relies on third party sources for some of its information that we believe is reliable. However, we make no representation, warranty, endorse or affirm as to its accuracy or completeness. The information provided is current as of the date of publication and may be subject to change. We are not responsible for updating this information to reflect any subsequent developments or events.

Certain information contained herein constitutes “forward-looking statements,” which can be identified using forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events, results, or actual performance may differ materially from those reflected or contemplated in such forwardlooking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance, or a representation as to the future.

Testimonials or recommendations presented may not reflect the experiences of other financial professionals or investors and are not indicative of future performance or success.

Advisory services offered through Kensington Asset Management, LLC (“KAM”). Liquid Strategies, LLC (“Liquid Strategies”) is a subadvisor of KAM.

KAM is affiliated with Xtollo Investment Partners, LLC (“Xtollo”). However, neither Xtollo nor KAM are associated with Leuthold or Liquid Strategies. KAM serves as the Adviser to the Mutual Funds and Exchange Traded Funds (collectively, the “Funds”). The Funds are distributed by Quasar Distributors, LLC. KAM and Xtollo are not affiliated with Quasar.