The Fund

The Fund | Performance

Monthly Returns as of April 30, 2020

April YTD 1 Year 3 Year Since Inception*
Ensemble Fund 14.31% -7.00% 4.58% 12.15% 11.60%
S&P 500 12.82% -9.29% 0.86% 9.04% 9.73%

Quarterly Returns as of March 31, 2020

1Q20 1 Year 3 Year Since Inception*
Ensemble Fund -18.64% -3.28% 8.24% 8.49%
S&P 500 -19.60% -6.98.% 5.10% 6.95%

Total returns presented for periods less than one year are cumulative, returns for periods greater than one year are annualized.

*Inception Date: November 2, 2015

Performance data quoted represents past performance. Past performance does not guarantee future results. The 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 higher than the performance data quoted.

All returns include changes in share price, and reinvestment of any dividends and capital gains distributions. Indices shown are broad-based, unmanaged indices commonly used to measure performance of US stocks. These indices do not incur expenses and are not available for investment. The fund’s expense ratio is 1.00%.

Short-term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.